So why a thousand?
Starting off with a thousand takes the urgency out of things that unexpectedly come up and cost money. It gives you a solid first step to living debt free!
- Emergency Money
It apparently cost somewhere around a thousand dollars, more or less for EMS to transport you or your family member to the nearest hospital. So consider it as your “Emergency Money”
By God’s grace you will never have to use it for that.
Other urgent needs which may need immediate cash such as blown car tires, engine problems, plumbing leaks, etc. can easily be covered by having a thousand dollars handy.
The money is to be used to bridge you over unexpected “Emergencies”.
- It primes the well
The thousand dollars that you set aside will prime your mind to fetch more of it, wherever it came from.
Interestingly, what happens after you have put away that thousand dollars, is that it gives you a sense of accomplishment.
I just saved a thousand dollars!
That didn’t hurt much?
I can actually do it!
How else could I save more?
If I can do a thousand, why not two!
After a few months, of the same mind set, what you previously thought were emergencies becomes not so urgent anymore. You begin to save up for stuff before actually buying or paying for it, even your bills.
The thousand dollars may not pay for all your debt in an instant, but it is your first step to your journey to living debt free. As the cliché goes, all journey starts with a single step, so consider this your first step.