Avoid financial ruin - cont.

Take it slow

Rome wasn't built in a day, and neither is an emergency fund. Any action you can take to establish an emergency fund will do you good. If you transfer $10 to a savings account each week, you'll have $500 in a year.
Don't be afraid to start with a small amount of savings each month, but try to increase it whenever possible.
When you pay off a credit card with a $50 monthly payment, increase your savings by that $50. With the same outflow you have today, you'll be paying yourself.
When you get a tax refund or commission check, add it to your fund, he says. And gradually boost your savings by selling items you don't need on eBay, holding a yard sale or putting change into a jar every evening.

Save rather than blow your excess money. By stashing the extra, in addition to your regular predetermined amount from your budget, you'll see your savings soar.