Create An Emergancy Cash Fund.

The amount you choose to stash away in a safe emergency fund is a personal choice. But if you don't fund your short-term savings enough, you may find yourself with a mountain of debt for years to come.
One thing you need to figure out is how much cash you need to store away. Figure out how much you spend each month on shelter, food, transportation and allowances for your kids. Boost up this number a little bit to include things like job-hunting expenses in the event you were to suddenly lose your job. Then multiply it by X amout, X representing the number of months you want to cover. Don't forget to factor in the amount of people for whom you're financially responsible.

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