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Why You Need an Emergency Fund and How to Get It

Emergencies, I’ll bet that in your life you’ve had a few. Maybe a dead refrigerator—on Christmas Eve, with dinner guests arriving in just five hours (uh, yes been there and will not soon forget). Or was it a medical emergency where the ER required $500 cash up front? I’m sure that between us we could come with a list a mile long!

Do you really believe you will never again face an unexpected life event that has dollar signs written all over it?

Listen, there is a prevalent mostly-unstated belief out there—one I’ve heard touted by a very famous financial celebrity. Maybe you can guess what it is. Ok, I’ll tell you: This guy and his many followers live believing that the available credit on their credit card account(s) is their emergency fund. If something happens, that’s their go-to plan. That’s not a new philosophy. I lived with it for 12 years when I was first married. And trust me … that is a reckless way to live.

You need an emergency fund. There’s no way around it and I’m talking about not just your financial situation, but also your mental health, your peace of mind, the joy of living.

I know. Times are tough. You can barely get by from one paycheck to the next. And as long as you keep that mindset and give yourself a pass, you’ll continue to live on the edge where if one little thing goes wrong (believe me, it will) it will plunge you into the dark abyss of a financial disaster.

It doesn’t have to be that way. I want to help you step away from the edge and into the joy of being prepared. All that in today’s post. See you there! Love, xo m