Tag: emergency fund

importance of an emergency fund

The Importance of an Emergency Fund

importance of an emergency fund

I can’t understate the importance of an Emergency Fund. Recently, I had a string of expenses, and if I hadn’t had cash saved up, then I might have found myself in debt.

Recent Expenses

They say when it rains it pours. That recently happened to me. In the past two weeks, I had to replace the battery in my tractor, take my truck to the dealership for service, and replace a power vent for my furnace. In all, I was looking at about $650 in expenses. While not a lot in the grand scheme of things, it was still a decent amount to shell out in such a short time.
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Why The Poor Stay Poor

This is not an easy article for me to write.  I now see this as an important counter to the other extreme I covered – life of a 1%er.  It brings back unpleasant memories from my time in Asia, during my corporate stint there.  Don’t get me wrong, we had a great time but the unpleasantness was for a different reason.  Asia is home to over 70% of the world’s poor people.   As is common practice there among all middle and upper middle class working households, the TFR household hired a part-time maid during our stay there. It was initially awkward to have a stranger spend couple of hours each day doing our chores but we slowly got used to it.

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