Here's a couple of questions you should be asking yourself. 

A. Do you have a rainy day fund?
B. Why not? 

If you don't know what a rainy day fund, its an account where you put a small amount of money on the side, and you use it when you need to use it for something unexpected.  And no, its not used to save up for that home entertainment system you've always wanted.

So no matter what profession you, or whatever stage you're at in your career, you should have a rainy day fund. 

I remember back when covid hit, a lot of realtors in our group discussion what people were going to do for income with all these new restrictions in place. And thats when a friend of mine, who mentors a lot of new realtors, replied.....A. Do you have a rainy day fund? And B. Why not?

And this group discussion was with a bunch of experienced realtors, that didn't have a rainy day fund. 

And this is after the group recommended a couple of books to read like the Richest Man in Babylon and the Wealthy Barber, both financial books that talk about having a rainy day fund within the first few chapters.

And with the market the way it is, the ones that do have a rainy day fund are very grateful that they made one for themselves.

And if you're home owner, having a rainy day fund is more important than ever....especially if you own an apartment or a townhouse. I notice that a lot of buyers made the mistake of buying into a building that they feel is so well maintained that they don't need to worry about a special levy or  a rainy day fund.  However, the reality is...is that well maintained buildings are well maintained because of specy levies. As a homeowner, special levies or unexpected costs may arise one year down the road, or ten years down the road.  It does't matter...its coming!

So , if youre by yourself or with a significant other, you can see how putting away 25$ after every pay check can be very beneficial. So you can do the calculation yourself and see where you are after one year....and it doesn't look too shabby. 

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