It happens to everyone at least once — just when you think you are on top of your finances and your budget is flowing smoothly, disaster strikes. The size of the disaster may not be huge; it could just be a blown tire during your tightly budgeted vacation. Or it could be as big as the loss of a job, a house fire or a disabling health condition. Whatever your financial emergency, you can get through it if you have planned ahead and prioritize.

A big part of making your budget is saving for the unexpected. Most financial experts agree that everyone should have an emergency fund of at least one month’s expenses. Ideally you should have savings and investments that could support you for six months or more.

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Do you need to save some money for a big purchase or recover from a large bill you just paid? Perhaps you just want to gain better control of your spending. Having a "No Splurge Month" could be the answer for you.

A “No Splurge Month” is when you designate a month where you won't spend any money on anything that isn't absolutely essential. There is no spending money on anything you don't legitimately need. When done as a family, this is a great way to save some money and learn more about what you can really live without.

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Living on a budget is not always an easy thing to do, especially when expenses will arise when you least expect them. But, even though it may not seem possible there are many ways to make your salary stretch further. Avoiding needless spending, comparison shopping and utilizing budget billing are a few ways to achieve this.

1. Avoid any needless spending.

• How many times have you gone to the store to pick up one or two items and left with a cart full? Sometimes it is easy to get drawn into sales that you did not know about and spend more than you wanted to. Most of the items are not necessary or needed at the moment.

• To help you curb unnecessary spending, either wait until you have a list of items to buy or keep yourself limited to the items you only need. Wants can be purchased at a later date as your budget allows.

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