11
Overheard my neighbor bragging about his $8000 emergency fund and I felt sick
I was grabbing my mail last Tuesday when this guy from three doors down starts telling his friend how he saved 8 grand in 6 months just by cutting out coffee runs and meal delivery. Here I am barely scraping together $50 a month for emergencies because my car needed new tires and my kid's dental bill hit $300 out of nowhere. How do people actually build that kind of cushion when life keeps throwing curveballs?
2 comments
Log in to join the discussion
Log In2 Comments
noahw533d ago
Hold up, is that $8000 really just cash sitting in a savings account? Cause I gotta be real with you, a lot of people brag about their "emergency fund" but they count stuff like their 401k or a credit card limit that they could use in a pinch. That's not the same thing. Most folks I know have a couple grand max in actual cash, and even that feels hard to keep around when a transmission goes out or your kid breaks their arm. That dental bill stings, I get it, but don't beat yourself up comparing to someone who might be leaving out details.
5
evand652d ago
Right? I always wonder if that $8000 is sitting there untouched or if they'd actually dip into it for something dumb. It takes serious discipline to not touch it when you want a new TV or something lol.
0