Why you absolutely should have an emergency fund

When we first got married, we decided to learn about finances. We knew some but we wanted to really be able to set ourselves up for success. Thankfully, our church offered the Financial Peace University  program! (We would definitely recommend it.) Now, we were challenged by some of the things mentioned in this program and had some difficulty with certain aspects but overall felt like it was a really valuable experience. The first step of the program is to create a $1,000 emergency fund. There are several steps after that but this is the key initial action. We’ve had our initial emergency fund set up for a few years and have been working to continue building this, while also working on the other steps! Yesterday, we learned why this is so incredibly important.

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Yesterday, we arrived home to find that our sweet dog Nanook had tried to escape from her kennel again only to get stuck in between the sides. She had clearly gone into a panic based on the destruction around the living room. When my husband found her, she was hanging part way out of the kennel essentially limp. She has only recently regained some mobility in her back legs, which she did not have when we first found her. We had to rush her to the Animal Emergency Center where it was found that she had heat stroke, was really sore around her back side, and her body was clearly in distress. She needed IVs, medicines and to be under medical supervision. We knew we were going to help her…and then the bill came. The bill was one of the largest purchases we’ve made in one single payment. But we were PREPARED. It was a little bit of a punch in the gut to see that bill and pay for it but THAT IS WHY WE HAVE AN EMERGENCY FUND. The whole point is that life will always throw you unexpected expenses at, likely, the worst times possible.

So, if you don’t already have an emergency fund or need some assistance in planning your finances, don’t wait for a big unexpected expense. It will be so worth it in the end.

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