Just when you think you have it all under control someone goes and changes the rules. It seems that it works that way for everyone at some time in life. When it comes to finances the best way to plan for the change in the rules is to set aside money for a rainy day.

Most experts will tell you that you need to set aside at least three to six months worth of expenses so that you will be prepared for those times when you get sick and can’t work (or the worse case scenario of you losing your job). No matter what life throws at you it will be easier to push on through if you know that there is a safety net to catch you.

The idea of an emergency fund is appealing to most people. The problem comes in funding that account. Average families with average incomes that would benefit most from having an emergency fund are the ones least likely to be able to afford to save for it.

1. Set aside the tax refunds and tax rebates that you get for the next two years. It is money that you don’t see anyway and setting it in an interest baring account will give your more money in the end.

2. Take a seasonal job or temporary part time job and allocate all of that money for the emergency fund.

3. Sale some wedding gifts or other expensive items that you have around the home that you are not using (or maybe don’t even like all that much).

4. Allocate gifts and bonuses to go towards the emergency fund.

5. Cut extravagant or unnecessary expenses for one year to fund the emergency account.

Getting an emergency fund in place will give you the reserve cash you need to pay unexpected expenses without pushing over the edge of debt.

October was a major month for our household. My husband - the only full time employee in our home - suddenly walked away from his job. At the same time my writing career took an interesting turn and I landed a couple of full time jobs that made up for his income.

Now we are both at home with the kids all day.

The hubby has big plans though. He wants to open a business of his own and he started talking about the fact that if he had stayed at his real job and we had both incomes coming in then we would have all the money that we needed. While that may be true, the money may not be worth what it costs.

1. When he was working he came home late and rarely got to do things with his children (and forget about mom and dad time).

2. When he worked he spent three hours each day commuting - wearing out the car and his legs from all that driving.

3. When he worked I had to struggle to plan doctor’s appointments, client meetings and errands so that I could have someone around to spend time with the kids while I was gone.

4. When he worked the weekends were the only time he had to do anything around the house or around the yard so he never took time to relax and enjoy the house, the yard or his family.

There are so many more things that are valuable in life. Is the money really worth what it costs you in the end?

The other day someone told me that if they hit the lottery they’d give me the ticket. I was the only person they knew that actually prayed about what to do with the windfall when it comes.

Several years back I began talking to God about what to do with the million dollar check that the man would show up at my door bringing. Then the lotteries began making news and I stretched my budget out a little farther. ‘Lord, when you bless me with 87 million dollars what do you want me to do with it?’

The scripture tells us to plan for the blessing and to expect it. So I plan for every possible scenario you can imagine - a long lost relative leaving me a giant inheritance or my first book hitting the best seller list and getting me a great big bonus check!

All this thinking and planning (and praying) has led to some surprises along the way. It seems that the more I challenge my scenario with different figures the fewer things I think about for myself. The last time I did the little exercise the amount spent on me and my immediate family was less than 25% of the winnings (and that included money set aside for investing).

What would you do with the money if you won the lottery or received a large inheritance? Make a list and then make a separate list with the things that you think God would want you to do with that same money. You might be shocked to find that over time the God list begins to consume my list.

It is my belief that when His list becomes the only list then the blessing will show up.

A church in Long Island, New York is calling it a miracle. The Truth North Community Church received a winning lottery ticket worth $3 million in the offering plate. Just three weeks ago Pastor Bert Crabbe had announced that because of incredible growth, the church would need to rent a bigger space, unless by some miracle, they received the two or three million dollars needed to buy their own church. “I was joking I said unless God drops a couple of million that’s what we’re going to do,” he said in a report to WABC-TV.

The member who handed over the winning ticket did it with just one stipulation– don’t reveal their identity. They wish to remain anonymous. The church will receive $150,000 a year for the next 20 years. Instead of keeping the first chunk of money, the church will pass it on to other charities. Eventually the non-denominational Christian church would like to buy a property and possibly build a bigger church. For now, they’re hoping this big showing of generosity will inspire others to do similar things in their own lives.

We all dream about what it would be like to strike it rich, hit the jackpot, and become an overnight millionaire. It sounds like a dream come true to go from being an average joe to a mega-winner, able to buy whatever you want. Vacations, homes, designer duds– sounds perfect, right? Actually that couldn’t be further from the truth.

I just came across an article from Dave Ramsey. It sites a new study published in the Journal of Behavioral Decision Making that finds that people who feel poor often spend more money trying to strike it rich. One report says that families who make under $12,400 spend $645 every year on lotto tickets!

But what happens if you win? Are you suddenly set for life? Not according to experts. Coming into a lot of money in a short amount of time means you’ll be faced with requests from family members you never knew existed looking for a piece of your pie. It instantly makes you a target for scammers.

The next time you feel the urge to spend your hard earned cash on a lottery ticket consider this: The odds of winning a lottery are literally about 1 in 125 million.

* You are 66 times more likely to die from a snake bite.
* You are 2,001 times more likely to die in the electric chair!
* You are 2,201 times more likely to die from a hornet, wasp or bee sting.
* You are 1,488,095 times more likely to die in a car wreck on the way to the gas station to buy the lottery ticket.

Those of us who aren’t millionaires need to spend our money wisely, and that doesn’t include blowing it on lottery tickets.

The extreme heat and lazy summer days have bred some bad habits in our home. In the past we have tackled the habits of television and computer with tokens. This year it was important to get the electronics back into control and also begin teaching basic checking.

It all began with a closed account. I had almost 1000 checks left over and no idea what to do with them. They became the inspiration for the ‘Bucks Banking System.’ I sat down and made a chart of activities that the children could do to earn bucks and also things that could be done to be fined bucks.

My husband got involved by picking up some registers from the bank. He also has some suggestions for additional fines or benefits from the bucks. Then the game began.

1. At the end of each week the bucks are tallied and a ‘check’ is issued to the child in that amount. Each child is responsible for recording the deposit and also keeping the register balanced.

2. First thing each morning each child writes a check for the amount that was spent the day before - including any fines that were accumulated. Television and computer costs one buck per 30 minutes of use.

3. At the end of the month the children will have the opportunity to cash in unused bucks for special activities - like putt-putt with dad or a trip to the bowling alley.

4. The end of the month will also bring a ‘bank statement’ to each child. We will then work through the task of balancing a check book with the statement.

Since firs beginning the game the children have gone from uncountable hours in front of the television to usually less than two hours. Instead of watching television or playing computer games, they are drawing pictures, reading books and making crafts.

They are also getting use to writing out checks, keeping a running balance and also working with statements. By the time they open their first account they should be ready to hit the ground running.

Today was the first day of business for our children and their flower nursery. They spent four hours at the local Farmer’s Market pitching their goods to folks stopping in for fresh fruit and vegetables. It was a tough crowd for the most part, but they were both happy with the $15 that they each walked away with (after putting aside a portion for the business and a portion for taxes).

Each of the boys (ages 11 and 9) took turns asking people walking past if they were interested in the flowers. The boys would then explain the products and the prices. The oldest is more comfortable with strangers and fell easily into a regular spiel that he would present, but even the younger son eventually built up the nerve to ask total strangers if they wanted to buy some of their flowers.

The day was even more empowering for them because mom had the sense to print up some business cards for each of them. The eagerly handed those out to anyone that would take them and sometimes to people who didn’t really want to take them. Hopefully the enthusiasm will pour over into the upcoming week when they will have to get out in the dirt and dig more flowers and pot more plants.

All and all the day was a success. The boys learned something about business, advertising and hard work. Mom and dad learned that it is okay to sit back and let the kids struggle a little. And the oldest son reminded us (as we were dividing up the profits) that we should give 10% off the top of all our profits and not just what we each were going to get paid.

I will have to say that even if the business goes no farther today’s results made it worth the effort.

It looks like a major hurricane is taking aim at New Orleans once again. From the recent reports of Gustav, it is likely that no matter where this massive storm comes ashore it will cause substantial damage - and probably impact deep inland as well. So, how can you be sure that you are protected?

1. Review your policy right now. You don’t want to wait until after the storm to determine your level of protection. Talk over all your questions with your agent before the storm arrives.

2. Make a list of all of your belongings. If there is a major disaster you will need a record of all that was lost - including estimated values or receipts if you have them.

3. Pick up loose limbs, furniture and other items from around your property. Things like this can become almost like bombs when the winds begin to pick up.

4. Have an evacuation plan. Know where you are going to go, how you are going to get there and also have an emergency kit packed (including copies of your insurance documents, contact numbers and documentation of your possessions) and ready to go. Be sure that your car is full of gas.

If you are not in the regions that are projected to be impacted by Hurricane Gustav let this storm be a wake up call. You need to know what protection you have before you need the protection. Take the time now to review all of your policies and update anything that might need it.

If your budget is feeling squeezed more than usual, try eating at home more often. Eating low-cost meals doesn’t have to mean buying cheap, unhealthy food. Beyond clipping coupons there are ways to slash your food spending and start cooking on a budget.

Plan Ahead

The worst thing you can do to your food budget is to stop planning. Last minute meals can require extra trips to the grocery store which means spending more on gas and more on food. Take my advice– set aside 30 minutes a week to plan out meals for the next seven days. You’ll feel far more organized and prepared.

Make More than you Need

By making extra food each night you’ll have leftovers for lunch the next day. This will prevent you from eating out and spending more on food than you need to.

Search for Cheap Recipes

More and more people are interested in cooking on a budget. That means that more websites are offering valuable information on this topic. Some to check out are www.cheapcooking.com, www.cooks.com, and www.miserlymoms.com
At AllRecipes.com you’ll find ten meals for under $10.

Eat Vegetarian

Meat can be the most expensive thing on your grocery list. You don’t have to become a vegetarian, but try to avoid recipes with large amounts of pricey meat. Check out these budget-friendly recipes for ground beef. Ground turkey is another affordable meat option.

Rice and Beans

When cooking on a budget, rice and beans can be your best friends. They are cheap ingredients and fairly healthy, too. They are incredibly versatile and can be used in dozens of different ways.

There are good deals year around– you just have to know the perfect time to find them. The end of the summer marks a great time to buy several things including swimsuits, summer clothes school supplies, and patio furniture. Here are some sales to help you snag end-of-summer savings.

Swimsuits

Old Navy’s swimwear is normally inexpensive, but right now it’s downright cheap. Score swim separates for 50% off the regular price. Rather than pick through the clearance racks, shop online for a better chance of finding all the sizes you want.

Summer Clothes

Now is the best time to stock up on summer staples for next year. Starting today through September 1, take an additional 25% off of summer clothes at Armani Exchange for their End of Summer Sale. The prices you see online already reflect the additional 25% off.

School Supplies

Just as most little kiddies wrap up their first or second week of class, prices on school supplies get slashed. Now is the time to stock up on backpacks, lunch bags, pens, notebooks, and just about anything else that your little one might need during the year.

Patio Furniture

If your patio furniture looks like it needs to go into retirement, now is a great time to buy a replacement patio set. There is a long list of outdoor items available at the Crate and Barrel online outlet. At Home Depot patio sets are discounted up to 75% off regular prices proving it pays to wait until the end of the summer.