What our vet said was a "mild" heart murmur actually turned out to be congestive heart failure. Our 11-year-old dog was extremely healthy - until she wasn't. The good news was we were able to tap our emergency fund so the electric company could open our account before we lost power. So we had to come up with the money somewhere - and fast, since the previous owners had already scheduled for the utilities to be turned off. Of course, we needed to be able to get our electricity turned on. Since we'd just spent a lot of money on closing costs to purchase the property, our house account was drained. But it was based on the fact that we'd never had an account with this company and the usage of the prior owners (who had run the air conditioner all the time during a very hot summer). But when we called to set up our utilities, the electric company wanted a whopping $980 as a deposit. We had never owned property in that state before and were excited to get settled there. Many years ago, my husband and I bought a vacation home in Florida. Here are four of the most surprising things covered by my emergency savings. My own rainy day fund has covered a number of unusual costs that I definitely didn't plan ahead for. They prepare you for those unexpected expenses. That's what makes an emergency fund essential. In fact, building an emergency fund has always been my top priority, even above paying loans off early.Įmergencies vary, and it's impossible to plan ahead for every one. Saving money in an emergency fund is one of the single most important things you can do to avoid debt and protect your financial security. You'd be surprised how many different situations can cause you to tap into your emergency fund.
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December 2022
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