The last few weeks have been brutal. First, it was an unexpected $500 car repair. Then disaster struck. Ok, that might be slightly overdramatic. My Kindle stopped working. But I consider the Kindle to be the best invention ever, better even than the wheel, and one of the essentials of life, more important even than oxygen. So I had to immediately spend $250 for a replacement Kindle and case. (My old Kindle was the original model, so its case would not fit the latest version.) And now, I have plumbing issues at my house that are probably going to run a couple hundred bucks.
This is why emergency funds exist. Normally, I would pay for these things out of my emergency fund and then replenish it over the next few months. But my emergency fund is currently a meager $3,000, which is well below what it should be. So instead, I’m going to pay for these things partially from my vacation fund, which means my plan for a long weekend in St. Louis to visit my cousins next month is not going to happen. That is super disappointing, but it’s the right call. To make that trip, I would definitely have to dip into my emergency fund, and that just isn’t an option.
I also plan to cover these unexpected costs by dramatically reducing my spending on food for the next couple of months. This means cutting back on dining out, of course, but I also want to cut back on groceries. I have a lot of non-perishables on hand that will keep me fed for weeks. I also have a freezer full of venison. It will be like a little challenge to see how long I can go without buying groceries.
The past few weeks have really helped remind me just how important it is to keep a REAL emergency fund. Beefing mine up must become a top priority for the rest of the year. I’ll keep you posted on my progress.
Viva la Frugal!