A frequent piece of advice from personal finance bloggers is to establish an emergency fund. If you have an emergency fund it keeps you from going into debt due to small emergencies and helps stabilize your finances. I don’t keep a separate emergency fund myself. I just try to keep enough in savings that I can pay for small emergencies. This works as long as you don’t continually rob your savings for emergencies. Knowing that I have money in the bank to pay for small emergencies lowers my stress. Having a small emergency, such as an unanticipated car repair, is a minor annoyance rather than a major disaster.
To help you start your own emergency fund I am participating in a giveaway with other bloggers to give away $100 in PayPal cash. Click on the widget below to see all the ways you can enter.
If you would like to be a part of the next giveaway go to Snowflake Giveaway Project to get the details.
Always eager to add to the emergency fund. I am in.
I have never and still don’t have an emergency fund. Iam certain life would be less stressful if I had one.
I didn’t have to use my emergency fund so far. Thanks for the giveaway.
used it for non-emergency and still rebuilding 🙁 won’t do that again!
Great giveaway! We’ve had our emergency fund in place for 5 or 6 years and it has certainly reduced our stress level! There are very few things I worry about these days.
As other, have a savings account – but not one just for emergencies.
I find that we need not only an emergency fund, but a “slush” or “buffer” fund as well. We use that fund for medical and dental bills as well as large auto maintenance or repair bills.