Question: Why are you so against having a credit card for emergencies?
Short answer: It’s just a silly idea!!
Long answer: Ask yourself this question: Do I really want to go into debt right in the middle of an emergency? I mean do you REALLY want to make a bad situation even worse by adding owed interest?
Sounds silly when you think about it, huh? Well that’s exactly what you’re doing by relying on credit cards to bail you out during an emergency!
When I hear this, what I immediately think of is a lack of discipline. Building an emergency fund with up to 6 months of expenses requires a lot of that and just as much focus.
It’s hard! But wouldn’t you rather have the peace of mind during the emergency than the few extra spicy chicken sandwiches right now?
Figure out what number would make you comfortable enough to ditch the credit cards and get there. You’ll want to start this process by, first, creating a budget and then working diligently to get out of all consumer debt.
For individuals looking for a more detailed plan, take some time to reserve a session with one of our financial coaches at the link below.
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