Page 56 - Charles Calhoun Book Rich As You Want To Be

CHAPTER 5: PREPARE FOR “EMERGENCIES”

Get ready. Emergencies happen all the time.
Motto of the Boy Scouts of America is, “Be prepared”.

Preparation is on you. That is YOUR job!

The easiest way to fix many problems is to write a
check, providing that you have the funds ready and
waiting.

There is a saying known as Murphy’s law. It states,
“Whatever can go wrong, will go wrong.” And often when

that happens it happens at the worst time. As you will find
out, these unexpected emergencies happen pretty often.

So often in fact, that we all need to be prepared for them.
They will happen whether we are ready or not.

Some examples would be the car needs repair, there is

a car accident, any accident causing injury, a sickness, the
roof leaks, child needs braces, a major appliance needs

replacement (dish washer, water heater, washing
machine, refrigerator etc.). Life happens. And with these

emergencies comes expense. If you don’t have savings
handy it puts you in the position of having to borrow the

money needed to correct the problem. Then the person

would have two problems instead of one.
One way to prepare for emergencies is to build an

“emergency fund” of three to six months of expenses. Let’s

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