Those were the happy thoughts told to me one day at Church. The minister giving the sermon, worked with homeless people and such, so his view might be a little stunted, but that was the point of his statement,
“We are all three pay cheques away from living on the street“.Unknown Minister and Many Financial Pundits
Is this really the case? Well that all depends on the debt burden that you carry.Â If you suddenly had no means of income, but you didn’t have any debt to pay off, you’d simply need money to pay your day-to-day expenses that may be manageable or controllable. If you are carrying a large credit card debt load, and have minimum payments to make, then your issues are far more complicated and you must find ways to pay spiralling debt as well.
Are We Really ?
Am I three pay cheques from living on the streets? I don’t think so, I have a fair amount in RRSPs and such, and I also have some savings, but I also have a debt load that does worry me, and given the renewed vigour I have been given from reading good books like: Smoke and Mirrors , I think that is my goal is to kill my debt load while I can.