RAINY DAY/ CHRISTMAS FUND.
My dad was always teaching us to save for rainy days. When I learned about the Christmas Fund, putting $5 a wk away and then having a couple hundred (a lot at one time)at the end of the year to spend, I applied that concept to everything and now I have quite a few little funds I can tap if needed. I taught my sons that today, they won't even miss the $20 a wk. Before they know it, they'll have over $1,000. Fortunately I've been blessed with a 401K from my job but this fund idea can work for retirement too. And when you reach a thousand or two, you can open up a long term, high interest acct of some kind. For this reason, I love Rainy Days!