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That 'emergency fund' advice failed me when my water heater blew last Tuesday
I kept $500 in a savings account like they say, but the plumber quoted $1,200 for a replacement. Had to put it on a credit card and now I'm wondering if the whole three-to-six-months rule is even realistic anymore. Anyone else find their emergency fund fell way short when something actually broke?
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fiona_kim972d ago
My friend saved up for two years and then her car transmission died the same week her cat needed surgery. Life has a way of making jokes at the worst times I swear.
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The "emergency fund advice" thing usually means more like a few grand, not just five hundred bucks. A month of expenses is kind of the bare minimum these days, one bad repair can wipe that out easy.
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cole_murphy2d ago
Learned that lesson the hard way too - my emergency fund covered half a water heater.
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