If you are reading a fair amount of personal finance blogs, you are readily aware of the importance of having an emergency fund. And for those of you that have a “fully funded” EF, hats off to you!
This post is as much of a reminder for myself as it is for you. Emergency funds are important and you need that extra financial cushion should the proverbial sky fall when you least expect it.
Expletive happens, or a more ladylike way of saying it is “Situations will arise”. Situations such as:
- Car problems
- Unforeseen medical treatments
- Vet bills
- Problems with your paycheck that result in delay of funds which could cause you to be short on other bills
On and on and on…right?
Especially with our economy not quite on the straight and narrow, and with the holiday season bearing down upon us, it’s important to remember to keep funding that emergency fund. If times are already tough, set aside what you can. Even if all you can contribute is $5 a week, keep at it. That money will add up over time, and you’ll be glad you set aside that coinage.
Like I said, I need the reminder just like everyone else does.
Save that dough!