WHY YOU NEED AN EMERGENCY SAVINGS ACCOUNT

 

 Period.  End of Post.  OK, Let me explain....

Today my son who had surgery on his eye about 2 months ago woke up in extreme pain.  He could not open his eye for me to get a good look at it.  

Once he had some Tylenol I was able to look and see that it was angry, red, swollen little eyeball.

I called the children's hospital where he had his surgery to see if they could get him in.  Luckily the doctor said he had time.  

I had to take the day off work (lost income). The hospital is an hour away from our house so I had to fill the van with more gas.(extra gas $50)

Once we arrived at the hospital we paid for parking ($8.00).  The doctor prescribed medicine. ($20).  My son was in a ton of pain but was so brave so I bought him a treat for the way home. (8.00)

I am so grateful that I was able to get my son to see the doctor.  This was not something that I could have put off until later.  It was also something that I did not plan for.  The total of the day cost $86 not including lost wages.  Since we are on a very tight budget this would have blown the budget.

Luckily we have a $2000 savings set aside for times just like this.  Having that savings account means that we are able to worry about the emergency at hand without worrying about how to pay for it.  Or at least some if it.

I suggest you start an emergency savings account right now!  If it means that you set aside $5 this week and take some bottles back for refund then that is how you start.  Having a savings account is one of the most important things you can do BEFORE you start paying off your debt.  

If you do not have an emergency savings account, every little emergency or forgotten payment will send you back to using the credit...creating more debt.

Now that I have used some of my savings account, I need to top it back up!  I will reduce my debt payments until the savings account is back at $2000.  At that point I will put all the money back towards the debt.

Crisis adverted

Do you have an emergency savings account?  Why not?  Get started now... I am sure the couch you are sitting on has some change in it.