Pay Yourself First, Or Reverse Budgeting

fivecentnickel has a cool post on what they call “Reverse Budgeting”.My wife calls it “paying yourself first. The idea , no matter what you call it is to make savings your first priority. I Have been trying to assemble an emergency fund since I no longer have credit. I squirrelled away almost $1500 and now it will be wiped out to pay for a new transmission. I believe that we all have to position ourselves to be able to live with an income disruption, so say it while it is coming in.

From Salon: My Big,Fat Credit Card Debt

Read the article here.All I can say is… $10,000 in debt? That’s for babies….. Try $35,000.