Greetings! I have wanted to do this for quite some time. I started this blog because I need an outlet for my thoughts and ideas. Also, I feel that I am not alone in thinking some of these things.
This brings me to my first observation. The benefits of having an emergency fund. Everyone talks about this and everyone knows that it is a good idea. Many people have an emergency fund, while others scramble to come up with the necessary funds when issues arise.
I would like to share a recent experience. I was driving home from work one evening. On the way, the front, drivers side, tire blew out. I pulled in to the nearest parking lot, and informed the manager of the establishment that my vehicle would remain there until the morning, as it was dark and I did not feel up to the task of changing out a tire in a suit. In the morning, I replaced the flat tire with the spare (which happened to be flat as well), and drove to the nearest tire center. Three hundred and sixty-five dollars later, I was on my way with four new tires. Three days later, while at work, my wife called me, informing me that her car would not start. Luckily, after a diagnostic at a local automotive center, the problem was solved with a new battery, which cost us one hundred and one dollars and some change.
Now, if we had not saved up money for an emergency fund, this may have caused some concern. Thankfully, we planned ahead for emergencies. I think back and wonder how we would react to these same situations without this fund in place? In the past, we have survived with only one car. It is not pleasant, but it is doable. Now, what would we have done when the battery expired, had we not had this emergency fund in place?
There are some that would say, "Charge it and pay it off when you get your statement from the credit card company." Having an emergency fund in place saved us from having to deal with the credit card companies. Having an emergency fund allowed us to handle our problems on our own, without having to turn to others for help. Having an emergency fund saves time, money, and heartache.
Well, that was my first observation, and a little bit of soap-boxery. I hope that you will come back and visit again. I am sure that you will not be disappointed.
