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. Do you have enough cash to cover them or would you have to rely on high-interest credit cards or a loan from your family? That emergency fund saved our business, our sanity, and our marriage.

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. Do you have enough cash to cover them or would you have to rely on high interest credit cards or a loan from family? Our saving grace was the money we had saved in our emergency account.

Emergency Fund 100

Emergency Fund Building 2007 Credit Cards 100

Family Balance Sheet

FEBRUARY 22, 2011

Had it not been for the money in our emergency savings, we would most likely have used credit cards to survive. In 2007, we used about 6 months worth of living expenses and our savings came very close to drying up, so saving one year's worth of living expenses might be more wise for us. It was a scary time for us.

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. Both instances could have brought us down and we could have reached for a credit card, but thankfully, my husband and I are pretty adamant about having an emergency fund and I want you to become adamant about having one too.

Emergency Fund 100

Emergency Fund Finance Organic Organization 100