Knowing when to use the Emergency Fund

Save for a rainy day and it will surely rain. An emergency fund will see you through till brighter days come. How often you use it depends on how accident-prone you are and how long your luck runs.

Live on the edge and every thing feels like an emergency. Use your emergency fund to pay those bills and your life will become more secure and productive. You cannot get a job if you look desperate.

Cell phone replacements qualify as an emergency. You could also upgrade your service in the process to get your bill lowered. Putting funds back in the emergency fund is important.

Use your emergency fund for things you see coming. Recruit a designated driver and use emergency funds to cover their expenses. Prevent minor legal charges like DUI’s, bail bonds, and lawyer fees.

An emergency fund can prevent disasters. Use funds from your emergency account to upgrade your travel destinations to avoid rainy day beach closings or shark attacks. You have a limited number of vacation days for the year.

When is a gift an emergency? You forget. Come up with the cash you need from your emergency fund. When sending your grandparents on a 50th anniversary cruise, you need the money to book it.

It’s vital to have emergency funds on hand when you travel. The cost of air flight delays and cancellations are staggering. You may receive a discount certificate for a hotel and need emergency cash for meals.

Keep an emergency fund at home for your kids. When you can’t get home on time, they can order a pizza. Get caught in a traffic detour or your meeting runs late, you will have peace of mind that your family is taking care of business at home.

An emergency fund is essential when you have unexpected tips to cover. Bar hopping, gambling, and cover charges require unexpected expenses. When you are out with a group, where you go and what you do may not be up to you. Get separated and you need cab fare.

Have your emergency credit card balances transferred to a low interest payment plan. Making one low monthly payment will give you more options to build up your emergency fund. You never know what unexpected expenses you may have in the near future.

Keep your emergency fund in a flexible investment plan so you can use it quickly when you need it. Emergencies do not solve in 5 to 7 business days. When you experience an unexpected hospital emergency, you need your money ready and waiting.