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(In an effort to slowly merge all my blogs, I am transferring this article from here to this site.)

If you have found yourself looking forward to receiving your salary, feeling on a high that day and then a day or two later, going back on the same vicious cycle paycheck after paycheck, you may have to rethink your financial life over.

Take our case, for instance. With all the close monitoring we’ve been doing, you’d think we have it all figured out and that we’ve actually learned from our mistakes in the past such as when the daughter got hospitalized but, good heavens, no, of course we haven’t.

This month, I’ve (mostly me since I do the budgeting) found myself looking itching for payday to come. I We got ourselves into yet another sticky situation and this time, it was almost to the expense of the baby’s food. Yes folks, we almost ran out of baby formula. I had to divide the remaining milk really well and, thank the heavens, my pay came out earlier that day – the milk lasted only until lunch.

Have you set aside some for emergencies?

Have you set aside some for emergencies?

So, see? Living from paycheck to paycheck can be a really dangerous thing to do. Even if you do not have a child to send to school or a baby to feed or even if you are single.

You never really know what will happen in a day, a week, a month or a year. If you continuously look forward to your next pay as if the whole world relied on it (except if you’re looking forward to invest the money, of course) then you could be treading dangerous waters. The feeling you get could only mean one thing – that you just have enough or even barely enough – to make it through the next pay. It could only mean that you have no other secret stash kept away (such as an emergency fund) for real-life emergencies (and not when there’s a big sale at the nearest mall).

Having no emergency fund could only result to one thing: applying for a loan at the nearest bank or lending company or even your parents or relatives and then you’d find yourself stuck at a debt or months with possibly no room for financial mistakes if you borrowed a big amount. You wouldn’t want that, would you?

So think about it. Would you still want to go ahead and look forward to your next paycheck? Or would you rather let it pass by like an ordinary day because whether it will actually come or not, you have got everything covered and you can sleep through the night without worrying how to pay for your next meal?