Guest Post: The Importance of an Emergency Fund

by Merissa on July 19, 2012

in Featured, Thrifty Living

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Today we get to enjoy a guest post from Tshanina Peterson about how important having an emergency fund is!

You knew that day would come. That day when the car breaks down, the ice maker explodes, and the kids need extra money for school all at the same time. You’ve had similar days before but never one where everything happened at one time.

Aren’t those days so frustrating - it feels like nothing is going right and you just want to crawl in a corner and cry!

Even more frustrating than all the problems that occurred that day is the fact that you didn’t plan ahead. You just paid the bills for the week and there’s no extra money. How will you ever pay for those extra expenses?

You’d heard that “rainy days” would come but you never expected it would happen to you. What do you think? Should you plan ahead now?

Saving for a rainy day doesn’t mean you have to put $100 back a week. The truth is, most of us don’t have $100 to put back each week. Whether you put back $5 or $50 a week, put something back.

The secret to saving for a rainy day is to put your money in a place where you know you won’t spend it. For those of us that are spenders, if we see a little extra cash in our checking account we think it’s okay to spend. So, we need to put our emergency funds into a savings account where we don’t see it - in essence, out of site and out of mind!

It’s inevitable, that day will come again. However, knowing that you’ve put money back especially for that day should make you feel so much better and help you be able to breathe easier!

Where do you put your emergency fund?

Tshanina Peterson blogs at Thrifty T’s Treasures where you can follow her journey of living a thrifty lifestyle.

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8:30 am

{ 5 comments… read them below or add one }

1 Gwen Hunter Valentino July 19, 2012 at 8:56 am

we are working on a 6 month “no touch” emergency fund. We also keep about 6 months of a food supply.


2 Penny Lajoie McCann July 19, 2012 at 9:24 am



3 Debbie Stone Perry July 19, 2012 at 10:59 am

Harder and harder to do with only one income. Hope hubby gets back to work soon. 3 years is a long time.


4 Carrie July 20, 2012 at 8:09 am

We have our emergency fund in a savings account. We deposits are set up to occur automatically and the account is not linked with our checking so it’s a little more difficult to make a withdrawal. We need every safeguard we can get!


5 Patty April 20, 2013 at 9:51 pm

I know this will sound strange to some, but I actually put my ‘rainy day fund’ in a mason jar and store it in a corner…for some reason, knowing it is there and watching it grow each month, keeps me from spending it! It’s always been easier for me to swipe the debit card or write the check, but if I have hard, cold cash, I just can’t let it go! Also, I started that jar thing that’s on Pinterest…where you put in a dollar the first week of the year, two dollars the second week, etc…I’m right on with it and on the last week of the year, when I have to put in that $52.00, I will have $1378.00 IN CASH!!


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