I didn’t really think that setting up an emergency fund was necessary until I was off for a month. I had to resolve into using credit card just to pay my car insurance. I had only $300 in my saving account. I got panic and didn’t really know what to do. I finally save $1000 for my Emergency Fund. I don’t know what situation you are in now, but I know that putting at least 5 months of money in an Emergency Fund is a wise decision.

You Could Get Fire Any Day
I deal with customer a lot doing networking. If I say something wrong and the customer report it to my project manager, then I can be written up or get fire. You can never think that you are safe because you have work. Work is not a backup for when things goes wrong. If you cannot save at least 5 months of saving for emergency, then you should at least save $1000. I didn’t work for a month but I was happy that I have some money save to supplement my paycheck.

Unexpected Things Always Happen
You never know when you car is going to break down. You friend might tell you that he is going to have a wedding. You could lose your job tomorrow. You will always have a rainy day that is a fact. You could lose your house if you don’t have work, and can’t pay the mortgage. We have to set aside some emergency to counter these unexpected events. When you are saving for emergency, you should only use that money for emergency. Don’t buy your girlfriend $500 phone and say it is for emergency; that is not a emergency. Emergency is when you can’t pay your light bill or mortgage payment. Emergency is when your car breaks down.

You Feel Better When You Have Some Money Save
I guess when your in a hard time and you have a few thousands save for emergency fund; you don’t get a lot of stress on what happening with the economy. Do you agree? When you have money save up for 5 to 7 months for emergency, you feel the sense of wealth. You might not have a million dollar but you feel secure when you set back up for yourself.

Final Thought
If you have not start a plan to save for Emergency, then I suggest you work hard to save a thousand by this month. We can never know what is going to happen tomorrow, but we can always be prepare for it. If you like this article please consider becoming a member and subscribe to get your free blog daily using the RSS feed.