An emergency fund seems daunting. It is when you add up all your expenses in your budget for 3-6 months. If shit hits the fan this is your...you guessed it emergency fund. It also seemed crazy to me to have such a thing. This money isn't touched unless there is an emergency. I got this once I started following Dave Ramsey. It's goal is to avoid you from going into debt something happens beyond your control. Today our 8 year old car went in for a regular service and then we got the call. You know the one when your mechanics number appears on caller id and you have the feeling of dread. We got that call. Guess what? It sucked to know we have to pay this large amount. I had a freak out moment. Then I calmed down a bit and thought wait we have an emergency fund. It took us a loonnggggg time to collect this emergency fund. It certainly didn't happen fast.
To build up our emergency fund we saved everything we could u till we got to our number.
Selling things on kiji and Facebook helped. Coupons to lower the other budget categories helps.
I can't say enough about the importance of the emergency fund. I will be able to sleep tonight, if not for this emergency fund I would be freaking out!
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