SAVE for the UNKNOWN emergency

There was a day that I was completely broke and had an average bank balance of $4.13.  It was awful living with no margin.  Anytime an issue cropped up, we had a problem AND a money problem.

One of the best things that Jenn and I did was save money into an emergency fund.  What can the money be spent on?  I am not sure …  I have NEVER spent the money!  Seriously, in over five years of having an emergency fund, we have never spent the money.

Did I have an emergency?  Well, others might have called them emergencies, but the Sangl household did not.  Let me list just a few of the events that have occurred.

  • Jenn had major surgery that blew up the $2,300 insurance deductible.
  • Ten months later, Jenn had to have the surgery AGAIN.  AND it was in another deductible year.
  • Power steering went out on the car.
  • Transmission went out on the truck.
  • The dryer died.
  • Huge leaky roof problem.
  • I had hernia surgery that blew up the $3,000 insurance deductible.

The Sangl household did not use the emergency fund for ANY of the above expenses.  Why?  Because they are not really emergencies!!!

Think about it this way.

  • Is it a surprise that humans get sick and need surgery?  NOPE.
  • Is it a surprise that cars break down?  NOPE.
  • Is it a surprise that an appliance breaks?  NOPE.
  • Is it a surprise that roofs will leak?  NOPE.

When I really think about it, I am not sure we will ever use the emergency fund but it is incredible knowing that it is there!

I wonder if HAVING an emergency fund in place scares off emergencies? 

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