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How to Build your Emergency Fund

Family Balance Sheet

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. I’m going back to bed!

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How to Build your Emergency Fund

Family Balance Sheet

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. A few years ago, our van needed four new tires to pass inspection. The total cost of the replacements was $1000. Have you had weeks like that? Where Should the Money Go?

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Create an Emergency Fund | 31 Days to Organize Your Finances

Family Balance Sheet

The total cost for the new tires and the dryer repair was $900. Several years ago, our other vehicle needed new tires to pass inspection and our hot water heater stopped working. Last year, our van needed 4 new tires to pass its state inspection and our 13 year old dryer stopped working. Oh, and it happened all in one week.