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Rainy Day Funds

Posted by georgiannasaysjustdoyou on January 22, 2011


I would like to pass on a life lesson from my mother that has served me well over the years. Although this is written in a female voice, I believe that men can also take something from this that can be helpful.

I grew up with two dominant cultures that were constantly competing with each other. My father had a very traditional Puerto Rican perspective on the role of women and men although he was liberal in his practice. My mother was very non-traditional and believed that the boys in the house needed to learn to cook and sew and the girls needed to learn to fix things and be self-sufficient.

It was an interesting dynamic and one I thrived in. I was always pushed to go to college. I remember my father saying that it was a good thing so that I could meet an educated man that could take care of me in life (it’s what all Dad;s want, right?). My Mom told me that a man taking care of me was a bonus, but that I should always be prepared to take care of myself. You never know what life will deal. So going to college was about an education and a career.

I did both. I got married in college and I have enjoyed a great career that has allowed me some financial independence. Turns out, I needed it.

Anything can happen, separation, divorce, disability, illness, death. What happens if you are not prepared? Some people find that the partner in their relationship took care of the finances but didn’t always tell them how they were doing or that they were in deeper debt than they thought.

And another scenario which happens all too often, if you should ever have to flee an abusive partner. Could you manage it financially?

The last place you want to be is starting from scratch.

My recommendations for everyone:
– have a rainy day fund, even if you only put in $10 a week, in a year that is $520 plus interest. If you are doing this over 5 years you have a nice kitty.
– rainy day funds should not be for bills, it is your safety net
– rainy day funds should be an account only you have access to
– keep up your reading and knowledge of your trade, business, etc. If you are out of work for any reason, you want to be in a position of being able to jump back in.
– stay connected to friends and family, it will be them that you will need in your life if it suddenly changes

These are just baby steps, but they can give you piece of mind…

My Mother was always pushing a healthy independence. She still does. It is something I hope I am passing on to my children. Too many people are stuck when they shouldn’t be and too many people are set back unnecessarily. A rainy day fund won’t solve all of your problems, but it will help you take a needed step in a pinch.

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One Response to “Rainy Day Funds”

  1. Another thought provoking topic by Georgianna. Money and our relationship with it are amazing subjects. It’s tangible and intangible (energy) at the same time. A rainy day fund is a great idea, especially when it’s a part of an overall Financial Freedom initiative for the person and/or family!!

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