Big, Fat, Tax, Bummer
We ended up having a huge tax bill, and we were pretty devastated when we realized that almost a whole month of extra principal payment would be gone.
If we could do a flashback to about two years ago, we would have been in full panic mode. Where would this money have come from if our emergency fund didn’t exist? We would have been in a bind, figuring out how to pay.
The awesome thing about having our emergency fund is that it doesn’t allow us to get in a bind, in a panic or in survival mode. The emergency fund has got our back. Although it sucks having to pay $6700, it ends up being only a big ,fat, bummer.
After reading Dave Ramsey’s books, we decided that it was worth that sense of security to save up 3-6 months of our personal expenses. It saves us, every time!
Questions for you: Do you have an emergency fund? Why or why not? Has it helped turned a crisis into a mere situation?