As if we didn't already have enough proof that life without an emergency fund just doesn't work well, we had another emergency yesterday that we couldn't afford and therefor had to be put on the credit card.
Yesterday was our daughter's two month check-up and the pediatrician heard a heart murmur and her heart rate was high, which he thought was cause for concern. We had to take her to the hospital yesterday, which is two hours from our house, for chest x-rays and an EKG and then back to the hospital today for an echo cardiogram. We decided that it would be better to stay in the town where the hospital is rather than drive back and forth to our house two hours away, so we got a hotel room that ended up costing us $234. We would give anything and pay anything for the health and happiness of our children, so the cost was not a concern. Thankfully the tests all came back normal and our daughter is just fine!
We have committed to following Dave Ramsey's plan and are in the process of filling out the worksheets and planning our route to saving an emergency fund and becoming debt free. A few days ago we filled out the form Major Components of a Healthy Financial Plan, and tonight I hope to fill out our Monthly Cash Flow Plan worksheet. Anyone know what the tax-reduction plan is? I don't remember reading anything about it in the book Total Money Makeover, and we couldn't find anything online on his website or elsewhere.
Friday, June 27, 2008
Proof We Need An Emergency Fund
Posted by Tracy at 7:44 PM
Labels: credit cards, dave ramsey, kids, medical
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2 comments:
That is quite an expensive hotel! Did they not have any cheaper hotels? I usually pay around $70 a night! Sorry things are tough for you right now. I would have the same reaction with my child and get all the tests done needed and do whatever it took to ensure her health.
It's possible, although the hospital is in Monterey so the hotels are a little more pricey there and we didn't want to drive around trying to find a cheaper one. Any other time I would never pay that (except maybe a special occasion like our anniversary).
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