Goals for your Contingency fund

Everybody should allocate a set percentage of income in emergency savings until an contingency fund is established. Savings are the seeds of your financial independence. The Bible often talks about the seed as the potential of what will be. Galatians 6:7 says, “Be not deceived; God is not mocked: for whatsoever a man soweth, that […]

Long-term vs Short-term savings

The first step or priority in establishing financial freedom is to be debt-free. The second priority is to build a contingency fund (short-term savings) for future needs. The third priority is to build financial freedom through investments. Many people want to pass over the process of building a contingency fund and go directly into investing […]

Contingency Fund

One problem with most families is the inability to save consistently. Running into an unexpected expense causes most of them have to go into debt because they do not have a contingency fund (short-term savings) for such an emergency. As Christians, we know these emergencies are certain to occur. God’s Word tells us in 1 […]