creating an emergency fund

Hey there!

Glad you could join me on this 12 week e-money journey. Today we are going to outline one of my favorite money moves; creating an emergency fund. 

Emergency Fund, Efund, Rainy Day Account, When The Sh*t Hits The Fan Fund.... its all the same. Just start with a mere $1000 and it will change your world. 

That sliver of breathing room between you and disaster will offer enough time to make better decisions. It helps you keep your dignity and calm...isn't that the definition of banishing worry and stress?

WHY Just $1000?

I know it seems like a small amount, but for some of you there hasn't been a spare $1000 in an account for a long time (Word Sister!). Just imagine the dignity a $1000 would give you: 

It's a....

• Car insurance deductible; when the last thing you needed was an argument with a power pole (Hey Monday, I feel ya!)

• When Monday comes around again and there is a vehicle repair bill that can’t be postponed

• When it just didn’t work out….and you need a 1st month’s deposit on a new place to live…

• Or it REALLY didn’t work out….a retainer on an divorce attorney

• Flight to your dying parent's side…ok I can’t make that funny ☹

All those events have happened to friends, family or clients of mine and they were forever grateful to have had a small pot of money to band-aid over their immediate emergency. This mere $1000 keep them from using a credit card and magnifying their emergency to then include high interest debt. 

What your emergency fund is NOT:

It’s not:

• A girls weekend; not even if it’s a Divorce party! 

• A new wardrobe...even if you have an interview for your dream job

• A new puppy – but I would let you use it for immediate life-saving surgery for your pet 

• A down payment on a financed car…a shiver just ran down my back.  

If you are not sure; just take a pause and give your decision making some space- what you will find is your gut says "hey lady...this isn't an emergency...this is you wanting...)

Wanting something is Ok. In fact, I celebrate it and tell you to make it a goal. Remember you can have everything, just not all at the same time.

We will be talking about adding to your $1000 emergency fund in a later post; in the meantime visit me at my new website, macmoneysolutions.com and set up a time for us to review your everyday money. 

Until next week,

SandyMac