In Case of Emergency...

Pandemic.

Recession.

Long term illness.

There is often something that comes up that has a major economic impact on a family.

I was in the hospital for 2 weeks and unable to work for ten weeks, and I can tell you first hand the setback that happens to bill paying, credit scores, and sticking to a budget.



That is what an emergency fund is for - to tide you over these unexpected situations. However, I was surprised to find that I found it difficult to spend from our emergency fund even though that is what it's there for. 

I happen to know that many do not have an emergency fund. I know this because of the number of people I help get one started. National statistics also support this fact as well.

For most people, their emergencies are funded with a credit card swipe. Problem solved... for now.

If the problem impacted income then, repaying the swipe gets even harder to do with the shark-like interest and fees they slap on for the convenience of the loan.

Get a big mason jar and start throwing your change in. Lift sofa cushions if necessary to find the coins that leaked out of your pocket. Start your emergency fund and start it now, and grow it to a minimum of $1000. This $1000 emergency fund will mean you can replace a blown tire, a broken appliance, or your kid's walk-in clinic visit for that broken arm.

Emergencies are not if, but when. THAT you can plan on, and having an emergency fund will give you peace of mind without new debt and penalizing interest.

Comment below if you have a $1000 or more emergency fund in place, or comment if you intend to get one started. 

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