Thursday, September 6, 2012

Emergency Fund

I'm neurotic. No denying it. I'm not so much a worrier though. I don't worry about tragedy, sickness, accident, Murphy if you will. I stress about the dishes not being done. My mom doesn't even know how to worry and luckily a bit of that rubbed off on me.

Here's the thing I'm realizing though, and I believe a HUGE reason I've never committed to the Emergency Fund (baby step numero uno in the Dave Ramsey program) now that I have money in the bank I've this constant feeling that something is going to happen; like the car might clonk any second, or the fridge might break down, or the dog might need surgery (again). I don't worry about those types of things normally but ever since I got that first $100 in the EF I can't stop feeling tragedy coming.

So, the question is am I insane or is this semi normal? I've never had savings before. Weird, I think I may have just realized that to be fact after typing it but I've never had savings or committed to saving before and now that I've begun it feels SOOO futile.


  1. Look at it this way: if the fridge is going to break down, its better to break down when you have a little padding in the EF :)

  2. Doodlebugmom is completely right! It's frustrating when your car repairs eat up your emergency fund (believe me, I've been there!), but it's no longer an EMERGENCY. You don't need to worry how on earth to pay for it because you have money set aside for that very reason.

    Once you get into it, you'll really enjoy it I think! It's kind of exciting to see your savings going up! Even during the past couple of months where my savings have been going down and down (car repairs, moving costs, etc. etc.), it's better than going into debt!

  3. I used to think that preparing for the worst was inviting it to happen. is going to happen, even if you aren't prepared!

    We try and have an EF for those true emergencies that we had no way of preparing for. And sub funds for things that are likely to happen (car repairs, vet bills, etc).

    It takes money from our regular budget...and there are times I am tempted to use it for debt. But when something least we have a small fund to help out.

  4. I was a firm believer that having a EF meant I would have an emergency, Until I realized that yea that is what it was for. Having kept $1000.00 in the bank for over 2 years and then finally having to dip into it for tires I saw the wisdom, but it was a hard sell for me also.

  5. I have $300 in te bank right now and am feeling much the same way


  6. I'm like you, have never saved in anyway. I have had my 1k EF for a few months and needed it this month with a tooth emergency! I sat in the dentist chair while he told me it would be $ if I didnt have the EF I would of crapped myself, but I said ok no problem, without fear, or hesitation, because I knew I actually had that money. Now Im worried because I need to replace it...Im scared what else will happen now the EF is low!! Its so much better to have it, even if its only 1k, its still better as a buffer! You'll be fine!