There is power in being prepared for unforeseen expenses. Every household should prioritize funding for emergencies. A wealth builder shared that she and her husband had an unexpected $800.00 car repair. After she voiced her frustration that this repair impedes their debt-free run. I had a heart-to-heart talk with her. This is how it went in short.
Me: You’ve planned well by funding your emergency fund. Please don’t be hard on yourself because you have to use it. That’s why you have an emergency fund: for emergencies that arise. You can replenish it. Be happy that you have one in place.
Wealth builder: “You’re right! I thought of using a credit card, but I had cut them all up. I told my husband that we’ll have to use our emergency fund.”
Generational Wealth Builders, the moral of this story is: Don’t be upset when you have to break the jar and remove the chain (symbolically speaking). Your emergency fund is designed to cover unexpected expenses, such as car repairs or other unforeseen costs. You can and should replenish as soon as possible.
I love hearing your stories! Your testimonies strengthen and encourage others. Please keep sharing.
