What would you do if you lost your job?
Do you have savings or an emergency fund ready?
The idea behind the fire drill, as personal finance blog Save Money, Dammit!
Not only that, but you will have a surplus of savings from living on less for the month.
For some this may be harder than others, depending on how you store your savings.
However, as Save Money, Dammit!
points out, that struggle is the point.
If this ever happened for real, it would be hard to deal with.
Knowing how to execute your plan in an emergency is what fire drills are for.
Perform a Fire Drill Month to Stress-Test Your Budget| Save Money, Dammit viaRockstar Finance
Photo byMike Poresky.
