According to FOXMONEY:

“According to Bankrate’s [annual emergency fund report], only 44% of Americans could pay a $1,000 emergency expense from their savings. More than one-third of adults have more credit card debt than emergency savings.”

This is a disturbing problem in America, and I say this with no judgment. In the financial chaos that followed my divorce, there were times when I did not have $1,000 in savings to pay for an emergency. Thankfully, I live in much more abundance now.

Think about the word “emergency.” An emergency might be a major car repair like a transmission overhaul, which normally costs more than $1,000. Where would you be without your car for a month or more? An emergency might be an unforeseen medical or dental expense for you or one of your children.

I know that, today, some of you feel like you are drowning—like all you can think about is your next breath and can’t even think about what you are going to do about breathing five minutes from now. I have been there, and I get it. I know how close to the edge of homelessness some of you are. With that understanding, I challenge you to set a goal of saving $1,000 for unforeseen emergencies and having that fund intact within six months.

You may be reading this and asking “how?” Here’s how:

  1. Pray for It:
    • Pray, believing the Lord will help you. After you have prayed for it the first time, give thanks to God that this blessing is coming.
  2. Save Every Windfall:
    • Save every extra dollar you receive until you have $1,000 in a separate account. Birthday money, high tips, or even found money—bank it all.
  3. Cut Your Budget:
    • Reduce unnecessary expenses. Explain to your children why a single $10 birthday gift is necessary. Avoid dining out, buying luxury items, and cancel unnecessary subscriptions until your emergency fund is complete.
  4. Be Creative:
    • Consider side jobs like data entry from home, extra hours at work, or neighborhood services like laundry, tutoring, or recycling.
  5. Pay Your Tithing:
    • Trust in God and pay your tithing. This is an act of faith. Trust that He will open the windows of Heaven and bless you for your faithfulness.

Friends, I promise you that if you make it a priority to put together a $1,000 emergency fund, it will change your life. If you discipline yourself to save $1,000 on a meager income, you will find yourself being careful not to invade those sacred funds to spend on non-essentials. You will eventually expand your emergency fund to cover larger emergencies. You will develop the confidence that you can save for other things too—such as a professional licensing course, a sewing machine for tailoring services, or other ventures. The important part is that you will gain confidence in your ability to save money—even on a very slim budget.

I realize some of you are subsisting on $1,000 (or even less) per month and putting together a $1,000 fund you cannot spend except in a true emergency seems overwhelming. But I believe in you. Make this a priority. Make it a matter of prayer and seek God’s help. Be open to learning, growing, and showing your children what grit and determination look like. I hope you will take this challenge! I believe in you!


If you would like additional resources, go to and sign up for a FREE Consult so we can direct you personally – we are here to support you! Coming soon, we will be offering a really affordable mini-class on thriving financially after divorce so stay tuned for that by signing up to receive our FREE weekly inspirational LILY Letter (which will keep you informed of new supportive resources). I am excited about this financial course that Cathy and I have been building and hope it will be life changing for many of you. Meanwhile, if you are still recovering from a painful divorce, know that you are not alone. We have a comprehensive Life Design After Divorce self-paced course to help you heal from the effect of divorce faster and intentionally design a life you love.

About the Author

Jeff Teichert, and his wife Cathy Butler Teichert, are the founders of “Love in Later Years,” which ministers to Latter-day Saint single adults seeking peace, healing, and more joyful relationships. They are co-authors of the Amazon bestseller Intentional Courtship: A Mid-Singles Guide to Peace, Progress and Pairing Up in the Church of Jesus Christ of Latter-day Saints. Jeff and Cathy each spent nearly a decade in the mid-singles community and they use that experience to provide counsel and hope to mid-singles and later married couples through written articles, podcasts, and videos. Jeff and Cathy are both Advanced Certified Life Coaches and have university degrees in Family & Human Development. They are the parents of a blended family that includes four handsome sons, one lovely daughter-in-law, and two sweet little granddaughters.

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