The Essential Emergency Fund

I don’t like spending money.  I especially don’t like spending money on things that aren’t fun like car and house repairs.  Let’s just say this hasn’t been a fun month.

I think all financial gurus advise having an emergency fund and I think they are right.  Less than half of Americans have enough saved to cover a $1,000 emergency.  Luckily I’m one of those that have an emergency fund and it really can save the day.  I couldn’t imagine my anxiety levels if I didn’t have backup funds.  I would stare at the ceiling at night imagining all the things that could go wrong and how I couldn’t pay for them.   I try to keep $10,000 in my emergency fund, the advice to only have $1,000 doesn’t meet my imagination’s ability to come up with expensive scenarios.

This month the unexpected expenses just keep adding up.  First, it was car repairs that cost over a thousand dollars, then it was a vet visit, followed by a plumber, which led to a water damage mess that required paying the homeowner’s insurance deductible.  That came to about $3,000 of unexpected expenses in one month.  I did manage to squeeze my monthly budget to cut out all non-essentials, divert what I would normally save and request my credit card’s cashback amount.  After that, I’ll have to spend about $1,500 from my emergency fund (assuming no more surprises this month!).  It still pains me to spend that much money, but that’s better than having to go into that much debt.

Here’s hoping for less unexpected expenses!


I’d like more flowers and butterflies in my life and less money stress!



2 thoughts on “The Essential Emergency Fund

  1. I know how you feel, Jules Lea.
    I also had a couple of very expensive months (new car battery, new tires etc.), On top of that I went and bought a Dyson! I am trying to spend as little as possible now.
    Let’s hope for a month (or better yet, two) with no unexpected expenses!


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