Quote:
Originally Posted by Snave
I understand this logic, but how many times do you lose a job.
|
The problem is that you may not have any warning that it is going to happen, so you always need to be prepared. The other issue is that job loss is not the only potential emergency. For example, my wife had very unexpected gallbladder surgery in Sept. 2006. Our responsibility after insurance was over $2,000. I know lots and lots of people who would have had no way to come up with that amount without resorting to debt. Less than a year later, she had hand surgery. That cost us another $800. Add in copays for doctor visits and therapy and we spent about $3,000 in 10 months that wasn't expected or budgeted for. It is those kinds of things that an EF is for also.