Posts tagged emergency fund
Burnout & The Power to Take a Break

Do all of those choices make great financial sense? Absolutely not. I’m sure that Dave Ramsey would tell me that I’m making poor financial choices. However, they were truly required for my emotional well-being, and I don’t regret them at all.

Has it been difficult to see my bank account balance decrease knowing that there’s no money coming in? Absolutely. But I had a 6 month emergency fund in place before I started cutting back, and now my savings can get me through even more than 6 months. For me, this absolutely was an emergency. Even if something is a bad financial decision, it still might be the right decision for you.

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Why You Need a Car Repair Fund

My total cost for 3 brand new tires? $292.79. My car repair fund that I've been diligently contributing to every month had more than that in it, so this unexpected $300 expense was an inconvenience, not an emergency. Even if the repair fund only had $100 in it, it still would have been an unexpected $200 instead of the full $300 expense. Any amount that you have saved for these, let’s face it, expected, expenses, the less they will be able to derail you financially.

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