Home MONEY & BILLSBills & Budgeting Should I save an emergency fund? The answer is yes! Do it now.

Should I save an emergency fund? The answer is yes! Do it now.

by Penina

Life is full of little emergencies. Some are awful and others are just annoying. I’ve had a few in the last few years that have tested my well-planned budgeting tactics. There was the time we moved house from the country. I moved to the beach while my hubby stayed up in the country finishing a home renovation. Moving from one regional area to another was expensive. Renovating was expensive. Just as I thought we had broken the budget altogether I got a call from NZ that one of my close relatives was very ill. I flew home twice in the midst of all of the above. Thankfully I had saved a small emergency fund. I had been stashing it away all year ‘in case of emergency.’ During the trauma of those days, having this little emergency fund was a godsend. I didn’t need the extra stress of having to worry about money.
This is a very useful calculator for helping you to put together an emergency fund.
Whether you’ve been hit with a traffic fine of $350, you copped a fine for not voting or Aunt Helga has arrived from Queensland and you have to take her out to the movies, you will be happy you stashed this money away.
Set up an account today via direct debit and then just forget about it. Job done. Happy family.

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