Once your have some money in your checking and emergency fund you may get tempted to spend it. You know, the kind of temptation you feel at midnight when you raid the fridge? Or the high you get when you hit the mall for a shopping spree?
It's the little kid in you screaming I want it now!
Think of the money in your emergency fund as off limits. Remind yourself that it's for a rainy day and leave it at that. It will feel good to know it's there, and just as important, it will be a relief to have it when an emergency hits.
In my opinion, in addition to the emergency fund, it's a good idea to keep at least $1,000 in your checking account. That way, if you have a cell phone bill to pay, you won't have to wait for your next paycheck to pay it off.
Remember, your checking account is in addition to your emergency fund. Imagine how tempting it would be to have emergency money in your checking? Don't do it.
Temptation is all around us, but if you want to save your money and build a financial foundation, avoid the urge to spend it.
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