Thank You, Emergency Fund
The hubby and I have always had a large emergency fund. I’m accident prone and it just seemed like a good idea. While Dave Ramsey suggests that $1,000 is fine for starters, I like to keep considerably more than that in the fund. About 8 times that much, actually. Sometimes, I feel like that number is too large, and that it would do more good in an investment fund. But other times, like this morning, it was exactly what we needed to keep our peace of mind.
We took the hubby’s car to the shop last Wednesday because there’d been some rattling above the right wheel, and neither of us is handy with cars, but we knew that wasn’t a sound it should be making. Apparently, the struts were completely stripped, and this other rubber thing that sat under the hood was also ruined. The very nice man at the shop also explained that there had been some other bad car sounding stuff that I should be able to explain to you because I asked the guy a million questions, but I can’t because, like it or not, I’m not a huge car guru. Anyway, the total billed turned out to be $1,069.55, a number I want to cry about. Or, I would… Except that we were able to transfer it from our E-Fund no problem.
This has been the fourth time this year, we’ve had to pull from the fund. My car has had four flats since we bought it and one of them also came with a broken tire wheel and a tow. Not exactly the happiest situation. Each time we’ve been able to pull from the E-Fund and then slowly replace it. Part of the reason we’re able to slowly replace it is because the fund is large enough we’re not stressed about another impending emergency without back up cash on hand.
Even this latest bill, which kinda crushed my little heart when I saw the number, isn’t as bad in the grand scheme of money issues because we’ve decided that having a large E-Fund is more important than some other money priorities.
It’s a hard line for me to walk, because I’d rather build wealth, and a great way to do that is to invest. But times like these, where we can pay the bill and move on, are times when I’m reminded that being financially secure fits better with my values than being financially investing.
We’ll eventually be in a place where we can invest. We’re not there yet, and it will be an exciting day when it does happen. But in the meantime, we’re enjoying the financial security we do have.
Posted in Couple Money, Married Life
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