Can $50 Build an Emergency Fund?

Let me ask you a question. Does looking at your savings account make you feel proud, or does it make you feel defeated?When you're working hard but the balance just barely moves, it's easy to believe the lie that you're falling behind. You might even be thinking, why bother saving $50 when everyone else seems to be saving 5,000?So today, if you feel like your shovel is just too small for the hole you're digging, stick. Stay with me. Because today I'm going to prove to you why slow and steady isn't just a nice saying. It's actually the only way to win. Hey, friend.Ralph Estep Jr. Here. This is financially Confident Christian, where every day we're working to break that cycle of financial shame and do it with confidence.And today, we're going to break that cycle by doing something small. Just dealing with a small savings discouragement that so many of us have faced. This which leads me to today's listener question. Listener wrote this.Ralph, I can only save $50 a paycheck, and it's breaking my heart. I know I should be proud, but I feel like I'm just feeling behind. At this rate, will I ever have enough to actually handle an emergency?How do people do this without giving up? Ralph, I need encouragement because I'm still struggling.Thank you so much for that question, and thank you for being honest, because I feel that struggle. And I don't usually say this, but I'm gonna jump right to it. Listen, $50 per paycheck is huge. That's not small. That's a lot. So be proud of yourself.And today's big idea is this. Saving small wins when it's consistent. And listen, you're being super consistent because that $50 turns into security.So here's what we got to start by. I want you to just lean into this right now. Reframe the story. Like I said, small Progress. And listen, $50 to me is not small progress.Small progress is still progress. The only progress that fails is zero. If you were doing nothing, then maybe we could say that is in progress. But I understand your heartache.That feeling is real. You're probably thinking you're looking at people around you. Well, they've got $5,000 saved or $10,000 saved. Yes, zero keeps you exposed.But $50, it actually buys you some options. And remember, that behind feeling, that's something you've got internally. That's. That's just a feeling. That's not a fact.Because, trust me, $50 is not a fact. Which is why you've Got to respect the math. I'm a math guy. This is what I spend my day, all day doing. I'm gonna throw something at you.$50 a paycheck is real protection. Bear with me here. I've already done the math. $50. Let's say you're paid biweekly. That's 26 paychecks a year. You know what that means in a year? $1300.Think about what you could do with $1300. $1300 can cover your car deductible. Maybe a car repair, a flight somewhere. Maybe something happens. Or maybe that medical bill you weren't expecting.So just think about that $50 a year from now, that little start. And like I said, I don't think $50 is a little start. You said make $2. Maybe we'll talk about a little. But $50 is not a little. A year from now.You're going to be grateful that you started. But here's where I think the trap is. You've got to name the real enemy. If you listen to my shows, you know where I'm going next.Because what you're really talking about is comparison. And comparison is a huge trap because social media makes it look like everyone else is ahead of us. Oh, I look on social media. Look at that.They've got it all together. Look at the big house. Look at the new car. You must be doing something. Look at the jewelry. Look at the purses. Look at all the stuff.That's where you fall into the trap. Because you got to remember, you're running your race. It's your race. It's not their race. It's not everyone else's race.It's not what you said in your question. Everyone else seems to be saving. Stop doing that to yourself. You're running your race. You're building your foundation.Scripture is very clear about it, says, don't despise small beginnings. Don't despise those small beginnings.But here's one thing you can do to make it easier for you, because I want to give you something you can take away. Make it automatic. I am a big believer in making this type of savings an automatic thing, because I want it become a habit, not a debate.So many people say, you know what, Ralph? I'm going to set it up that every Friday when I got paid, I'm going to go online and I'm going to transfer money. But you know what that does?It creates friction. And that friction is a debate because you start saying, yeah, but I wasn't expecting this. I Don't know if I can do that this week. Make it automatic.Treat it like a utility bill that you don't skip. Most people don't skip their utility bills because you want to flick the light on and the light comes on in your house.So set it up as an automatic transfer. Exactly. When you get paid, dare I say, before you even get paid. So it's not found money, it's separate money. Put it in somewhere else.It's kind of the pay yourself idea. We'll do a show about that here in a couple weeks. Coming up, we'll talk about paying yourself first.Another thing that I think is really a massive thing you can do is give the goal a name that fuels you. I personally don't like the word emergency fund. To me, it just sounds negative. Oh, if there's an emergency, I'm going to have to spend this money.I don't think that's the right answer. Here's one I will give you. And you don't have to use this one. I just love this one. Freedom Fund.It's my freedom fund because like I said, emergency feels scary. But for me, freedom feels like progress. Freedom feels like I've got a direction, I'm going somewhere.Because that name, every time you see that is going to remind you what you're building. That's $50 every other week is $1300 in a year. Your $50 is not small. It's faithful. So here's today's win. Just a single step that I want you to do.Rename that savings account today. Most banks, you can go right onto the banking website or on the app and just change the name of that savings account and call it your freedom fund.And maybe you set up a separate one that you just carve out this money. Separate. This is my freedom Fund. And then I'm going to encourage you. Set up that automatic transfer. Doesn't have to be $50. It can be $10.It could be $5 for that. Just set it up with every pay. Don't wait. Make it real right now while you're motivated.Right now you're like, ralph, yeah, I'm leaning into this, man. You're right. I want to do this. Go do that today. Rename that fund. Set up that automatic payment, whatever you can afford, and just watch it grow.Let's get into the Bible. Today we're going to go to Galatians, chapter 6, verse 9. And this one just reinforces what we're talking about today. Again, Galatians 6, 9.Let us not become Weary in doing good. For at the proper time, we will reap a harvest if we do not give up. There's the secret. Don't become weary at the proper time.You'll reap a harvest if you don't give up. See, saving $50, $25, $10 is doing good. Yes, it's slow and it might feel like slow motion, but slow motion is motion.And God is calling us not to quit. Don't become weary. How about we pray right now together? Father God, I pray right now for the listener who's feeling small.For the one who looks at their bank account and feels that heavy weight in their chest, wondering if they'll ever catch up. Lord, we know this. You are the God of multiplication. Accountants love God because he is the God of multiplication. We just think about Scripture.You took a few loaves of fish and you fed thousands.So, Lord, right now I ask you to take their faithfulness, everybody who's doing these things and that $50 for this person, that sacrifice, Lord, you just multiply it. Guard their heart against discouragement and comparison.And when they want to quit, Lord, remind them that you see their stewardship in the secret places. Just give them endurance to stay the course and let them reap a harvest of peace in the end, Lord, and we just ask this in Jesus name, amen.Here's what I want to do and encourage you. Slow and steady is not weak. It's how you build unshakable security. It's all about building that strong foundation.So I just want to encourage you, keep building those foundation. And if you haven't started, today's a great day to start.And if you've got a question for the show, I'd love to answer your question here on the show. Go right to financiallyconfidentchristian.com/questionwe'll put that in the show notes, but I'm gonna give it to you again if you wanna write this down, it's financiallyconfidentchristian.com/questions. Send your questions in and I'll answer them right here on the show. Thank you so much for joining me today. As I always say, stay financially savvy.May God bless you and you have a great day today.