I have been doing pretty well on my emergency fund recently. It’s not fully funded, but it’s comfortable. March has certainly been a test of that.
A check up at the dentist in February turned into a three-phase follow up and my insurance covers some, but definitely not all.
A safety recall on my car turned into a complete overhaul. Okay, not complete, but the list of things they found wrong was immense! It was all stuff I knew needed to be fixed and had it on my list but never got around to (my future husband and my father both just rolled their eyes). It was convenient to just take care of it all at once while I got to drive a fun, little Jetta around for the day, but taking on the cost all at once was not fun. At all.
A few years ago, even though I had the money, I would have put it on credit cards so I didn’t have to think about it all coming out of my account at once. But now, instead of freaking out about these expenses, I reminded myself that this is what the emergency fund is for, transferred the money into my checking account and paid it like a big girl.
Okay, maybe I freaked out a little. I thought about how I could pull back on my spending to pump up what I’m contributing to get the e-fund back on track, thoughts of a second job flooded my brain.
But, I took a calming breath, reminded myself, again, that’s what it’s there for, so that I don’t have to disrupt my monthly budget. I honestly don’t remember the last time I dipped into it, so even though I had two “emergencies” this month, it doesn’t mean I’ll keep having them.
I also had a bit of a freak out when my second bride and the few bridesmaids she had in tow picked a dress that costs more than any dress, let alone a bridesmaid’s dress you’ll wear once, should and more than I had budgeted for. However, I smiled, said, “whatever the bride wants,” and forked over the first half for the down-payment while reminding myself that that’s what the wedding fund is for and the $30 that it went over what I budgeted just means I’ll sit out a round or two at the bachelorette party.
Without these focused funds, I’d probably still have the same amount in savings, but putting it aside and labeling its purpose really helps me a lot. And that’s what they’re there for!