Today’s word in the 100 Day Challenge is MARGIN.
Make sure you get this word right, and that you teach it to young people you know. It is especially important when it pertains to money.
Margin is all about the borders. There are borders with money. Start with living within them. Spend less that you make. Save something consistently.
Financial expert Dave Ramsey suggests seven steps to financial freedom beginning with an emergency fund. That means setting aside $1,000 for emergencies. That is your margin when your car needs repaired unexpectedly, or one of your home appliances stops. Your emergency fund will let you take care of the repair or replacement without having to use a credit card or go into debt. That is margin. We need margin in our lives. Margin is good.
Today’s Winning Thought: You will never regret having enough margin in your life.