Emergency Fund funded-then depleated

MrsChambers · #1 (**permalink**) 04-01-2005, 02:01 PM

whelp, two steps forward - one step back.

FINALLY saved up some money to fund the emergency fund...

POOF - emergency

all gone

.... didn't even have my emergency fund funded for a friggin week!.....(talk about timing)

happy because I had it and I need it.... but sad that I don't have at least the satisfaction of looking at it sit in the bank.

I know I didn't have the fund for more then a minute or two, but I am going to miss it all the same.

BACK TO TAKING STEPS FORWARD

miclason · #2 (**permalink**) 04-01-2005, 02:18 PM

Congratulations!! ....even if it only lasted a couple of weeks, it DID serve its intended purpose: not to dip into your "everyday" budget for emergencies!!...I'd say it was a LEAP forward (and maybe 2 tiny steps back!)

DivaJen · #3 (**permalink**) 04-01-2005, 02:21 PM

Quote:

Originally Posted by miclason

Congratulations!! ....even if it only lasted a couple of weeks, it DID serve its intended purpose: not to dip into your "everyday" budget for emergencies!!...I'd say it was a LEAP forward (and maybe 2 tiny steps back!)

I agree 100%! You achieved what you set out to do and know that it is possible!!

terry1156 · #4 (**permalink**) 04-01-2005, 03:09 PM

It worked exactly the way it was supposed to work! I realise that it must be frustrating to have in in place and find it gone so quickly and have to start building it up again, but you made a huge leap beyonf not having anything and putting the emergency on credit cards that would take years to pay off.

You can see that putting that money aside was exactly what you needed to be doing and it has helped you stay on your budget even when an emergency came about. That is a HUGE step and you should be congratulating yourself for having it in place.

Armywife · #5 (**permalink**) 05-09-2006, 12:42 PM

I see Congratulations are in order!

Why, you ask? Well...

#1. You could have borrowed the amount needed in a loan (which would cost you more in the long run)
#2. Whatever the situation was, the worst part (funding) is over and now you can turn over a new leaf.
#3. Whatever you did to get you the emergency fund in the first place is the best way to save money for you- stick with it and you'll be back in black in no time flat!

Haku · #6 (**permalink**) 05-09-2006, 01:29 PM

Agreed. I'd be glad that it didn't cost you more, plus interest!

PRICEPLUS · #7 (**permalink**) 05-09-2006, 04:36 PM

The fund did what it was intended to do just as an air bag keeps you safe in a crash. It, like the airbag, must now be replaced in preparation for the next crash as it were!

Ima saver · #8 (**permalink**) 05-09-2006, 05:18 PM

Keep it up, you can build that emergency fund again!!

Bluezy · #9 (**permalink**) 05-10-2006, 01:27 AM

That beats having to use a credit card for the emergency. Good for you! Do not take it hard when you see that balance go low, it will rise again soon.

PrincessPerky · #10 (**permalink**) 05-10-2006, 07:47 AM

I'll ditto the congrats!

And symapthes for whatever the emergency was..

markio26 · #11 (**permalink**) 05-10-2006, 01:22 PM

good job... repeat. repeat. repeat.... an emergency fund is to be used, no matter the timing, it is the time that counts... it does not matter, how, who, when and where... enjoy your life and be happy...... don't sweat the small stuff.. i used to rethink everything... move onto the next lil victory.... thanks for the post.

veronak · #12 (**permalink**) 05-10-2006, 04:01 PM

Look at it this way, at least you had it and did not need to use your CC's. When I first started with my EF everything you could imagine happened but with time I can honestly say that I have not needed to touch it so kee your head up and start at it agin. You'll see

zakity · #13 (**permalink**) 05-11-2006, 01:57 PM

That is way too cool that you had it saved up! Isn't it great that you had that to fall back on! I know what you mean about wanting to see the bank statement saying that it was in the bank. I like when we have a good month and nothing comes up and our EF is fully funded!! It looks heavenly. Unfortunately, that happens way too infrequently, but, it does happen!!

I have had an EF for about 10 years and it has been down more than up. But, on the other hand, it was lovely to have it there! It has saved our butts many a time.

Tree0164 · #14 (**permalink**) 05-11-2006, 03:09 PM

Been there done that!! But it feels good that you don't need to place it on the credit card!

flash · #15 (**permalink**) 05-15-2006, 01:00 PM

The bright side...once you know the feeling of having the EF, and savings, you can feel the loss. You want it back again. You know how good it felt. You know how impotant it is! So, you are much more likely to get there again!

I'm sorry to know you had an emergency, but GREAT job getting through!

kashi · #16 (**permalink**) 05-18-2006, 02:21 PM

I hear ya...I'm trying to build mine back up again now after having to get my car fixed. I'm glad I had the money there, though.