Just realized my emergency fund got WIPED OUT by a single car repair

Two weeks ago my alternator went dead on the way to work in Cincinnati. $680 later I was back on the road but my entire 3 month fund is gone. I had been so proud of building that up too. How do you guys rebuild without getting discouraged?

2 comments

2 Comments

claireo6713d ago

Man, that sucks. But you gotta look at it differently. That emergency fund did exactly what it was supposed to do. It saved you from putting that repair on a credit card and paying interest for months. That's not failure, that's the system working right. You'd be in a way worse spot if you didn't have that money tucked away. Just start fresh, even if it's slow, and don't beat yourself up over it.

wright.jesse12d ago

A buddy of mine had to drain his savings for a new transmission. He was fine.