3. Is It Urgent? When an immediate need comes up, the last thing you should worry about is how going to you’re pay for it. So if your child catches a baseball with his face and needs stitches, or your furnace suddenly dies in the dead of winter, stress. Focus on the task at hand and don’t leave the rest up to your emergency fund. On the flip side, big sales urgent. Just because your favorite appliance shop is having the aren’t closeout sale of the century mean you deserve a new washer, dryer, oven and fridge. If doesn’t you want to replace old but still-functioning appliances, flash all that cash you saved up in your fund and see what kind of deals you can score. If You Have to Use the Money, It’s Okay! Your emergency fund may feel like a ton of money just sitting there doing nothing, but it’s actually doing a lot. your insurance policy against the unpredictable—the crazy part of It’s life. So drain it just because you see something shiny and new. don’t On the other hand, give yourself permission to use your emergency fund if you have an immediate, unexpected expense. Just remember to replenish your savings as soon as you get back on your feet. You never need it next. know when you’ll
3. Is It Urgent? When an immediate need comes up, the last thing you should worry about is how you’re going to pay for it. So if your child catches a baseball with his face and needs stitches, or your furnace suddenly dies in the dead of winter, don’t stress. Focus on the task at hand and leave the rest up to your emergency fund. On the flip side, big sales aren’t urgent. Just because your favorite appliance shop is having the closeout sale of the century doesn’t mean you deserve a new washer, dryer, oven and fridge. If you want to replace old but still-functioning appliances, flash all that cash you saved up in your fund and see what kind of deals you can score. If You Have to Use the Money, It’s Okay! Your emergency fund may feel like a ton of money just sitting there doing nothing, but it’s actually doing a lot. It’s your insurance policy against the unpredictable—the crazy part of life. So don’t drain it just because you see something shiny and new. On the other hand, give yourself permission to use your emergency fund if you have an immediate, unexpected expense. Just remember to replenish your savings as soon as you get back on your feet. You never know when you’ll need it next.
3_questions_to_ask_before_using_your_emergency_fund.docx