Just Fund the Damn Emergency Fund Already

Getting into debt in any financial situation is a bad idea. But it is an especially bad idea if you're already broke. Yet people do it all the time, and the fact is that once you are in debt, fixing the problem that led you down that very rocky path in the first place becomes that much more difficult to do.

Establishing an emergency fund that covers at least six months worth of income is advice that has been around for decades, if not hundreds of years. And it's pretty solid advice. Still, hardly anyone actually does it. And when the you-know-what hits the fan, the first thought that comes to mind is the credit card in your wallet and payday loan stores.

For a lot of people it is not difficult to actually save money. For those who say they cannot afford to, it's a mindset just like so many things are in life. If you have convinced yourself it is an impossibility, then even if that's not exactly true, in your mind it is, and that's what you are going to base your actions on. That's what you are going to believe.

I know it's not true. No matter your income, and even your situation, everybody can save money. But convincing people of that has been one of the most difficult things to accomplish in my life.

I say this with confidence because every single time I have sat down with someone who finally gave in and smugly told me, "Okay Mr. Smarty Pants. Show me the magic in your wisdom," I did. I found money. I found the problems that were at the root of their financial kerfuffle.

Things happen in life, and we all know this fact all too well. And things happen when we least expect it. Why not protect ourselves and make it so that we are at least prepared for it?

You know, if you think about it, there are so many other things we do in life to try to circumvent disaster. We look both ways before we cross the street. We make sure we change the oil regularly in our cars. We brush our teeth to make sure they don't decay and fall out. We try to maintain good health so we can enjoy life and be as free of disease as possible.

But money? We turn a blind eye to it and just keep our fingers crossed and hope it all works out.

It never does.

Just like anything, if you aren't actively doing anything to prevent disaster, disaster is going to happen. It's not a matter of if. It's a matter of when. The begging question is, why put yourself in that situation?

Covid presented an interesting situation that I thought might change people's perspectives a bit on the issue of money and emergency funds. It presented a reality that we really did not have before it—before Covid it was easy enough to find some kind of a job to replace some income if we lost a job. But during the height of Covid, of course, many jobs were simply not available.

Having six months worth of funds available may not have changed the situation entirely for a lot of people. But it sure would have made their situations much less dire, and would have put less of a burden on everyone else as well to make an attempt to right the ship.

Money matters are important. People should take care of them. People should be prepared for the unexpected, and not force themselves to pile on debt just to get through tough things.

Just fund your damn emergency fund already. No excuses. No reason not to do it. You will thank me later for this scolding and reminder. Trust me.

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