Family Balance Sheet

MARCH 26, 2021

In the same week, I woke up one morning to an icy cold shower and the discovery that our hot water heater was broken beyond repair. Unemployment and reduced income are considered emergencies, and so is a leaking roof, a broken hot water heater, or a dead car battery. Create a separate savings account and call it your Emergency Fund.

Emergency Fund 130

Emergency Fund Building 2007 Credit Cards 130

Family Balance Sheet

FEBRUARY 11, 2016

In the same week, I woke up one morning to an icy cold shower and the discovery that our hot water heater was broken beyond repair. That emergency fund saved our business, our sanity, and our marriage. Create a separate savings account and call it your Emergency Fund. Be diligent about how you use this account.

Emergency Fund 100

Emergency Fund Building 2007 Credit Cards 100

Family Balance Sheet

FEBRUARY 22, 2011

By the end of 2007, our business was picking up again and we were gaining some momentum, but not before we practically wiped out our emergency fund with only $2000 left to spare, not enough to get us through one more month. We spent the next couple of years building our savings back up, but I am now thinking that it needs to be increased.

Emergency Fund 127

Emergency Fund 2007 Personal Finance Debt 127

Family Balance Sheet

OCTOBER 13, 2014

Several years ago, our other vehicle needed new tires to pass inspection and our hot water heater stopped working. By the end of 2007, our business was picking up again–thankfully–but not before we practically wiped out our emergency fund with only $2000 left to spare, not enough to get us through one more month.

Emergency Fund 100

Emergency Fund Finance Organic Organization 100