A new survey has found that as many as half the Americans have do not have a mandatory three-month (though I like to think that it should be one year or more so that you have to make no changes right away) emergency fund and one out of three of you have zero savings. Now, chances are high that if you belong to either of these two groups, you have lost your job, or had housing and mortgage troubles, or were on the verge of medical bankruptcy, but in case, you simply have been reluctant to save or spending freely to enjoy life, it is time to change that.
For me nothing is more terrifying than not having money. I am willing to sacrifice today, live humble, not take a vacation, or eat out in a restaurant, or buy new clothes, but each night I want to go to bed knowing that I do not have to worry about bills to be paid or where is my next meal going to come from.
Boys and girls, it is better to live stress free for a long time than to have a good time now and then run into financial trouble later on. For me, the mantra has been to always live below my means. It is very tempting to raise our standard of living as our incomes go up so that we can enjoy the finer things in life or to impress our friends and family, lasting happiness comes from peace of mind.