Tagged With: emergencies

Pay less now, or pay more later, your choice

There are lots of ways to spend more money than you have to. One of the easiest ways to do that is to buy something before you have the money for it. And there are oodles of ways to do this. The most obvious one is the credit card. You can buy pretty much anything … Continue reading »

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Emergencies are the worst time for using debt

Not long after I got my drivers license, my mom gave me an Exxon card to carry around with me. “For emergencies, in case you run out of gas and are stranded.” I never used it. It’s not that I had any special objection to using it at the time (aside from not wanting to … Continue reading »

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How to pay for non-emergencies

We know what an emergency is. It’s an incident that is both unexpected, urgent, and unavoidable (and unfortunate). When you have an emergency, you use money from your emergency fund. (And if you have debt, here’s how you can still have an emergency fund.) When you have situation that’s not an emergency, you don’t touch … Continue reading »

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How to know when something is really an emergency

I’ve talked a lot about emergencies, those unfortunate aspects of life that you have to deal with sometimes, ones that often require a monetary outlay (dipping into your emergency fund, if you have one). I’ve made comments as to things that can feel like emergencies that actually aren’t. The example I often use is that … Continue reading »

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What to do when you have an emergency

Emergencies happen. We can minimize our exposure to incidents as best we can, but there are some things that we can’t control. That’s why they’re emergencies. We can debate what counts as an emergency. For example, I don’t believe wear-and-tear car repairs are an emergency, because if you own a car, you know that you’re … Continue reading »

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Can you use your retirement account as your emergency fund?

  My high school algebra teacher always had some sagacious advice for our class. “Open the door before you walk through it.” That sort of thing. This always elicited a laugh from us, which I suppose was the point. Though laughs aside, there is an order to operations. Walk before you run. Shallow before deep … Continue reading »

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How to have an emergency fund when you’re still in debt

  Some of you have already paid off their debts and are well on your way to becoming wealthy enough to feel safe, live easy, and accomplish anything. But some of you are knee-deep (or neck-deep) in debt, possibly living paycheck-to-paycheck. The living is anything but easy. I get it. Last time, I talked about … Continue reading »

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