No. of Recommendations: 39
I'm marking a kind of milestone today.

I never meant to start an e-fund. It sort of happened by accident. DH and I live on a houseboat, and our slip fee is due annually each summer. Last summer, as the due date approached - so did complete despair! We *somehow* managed to scrape together the $4800 by maxing out some credit cards and cashing in some old savings bonds. I know, I *know*. But it was SUCH a struggle, and SO uncomfortable, that I resolved to set aside the $400 each month as if I were paying MONTHLY instead of ANNUALLY.

May. June. July. August. I had a little over $1600 in that fund when DH had his massive stroke late in August. Life went completely topsy-turvy. DH was hospitalized for 3 months, and in no condition to work when he came home. Mercifully, I was sitting on a heap of vacation time at work, so I continued to receive full-time paychecks, even though I was only putting in a few hours each week at the office.

September. October. November. I continued to save the $400 - for the SLIP FEE. $2800. Then I ran out of vacation time. Our income dropped to 25% of what we were BARELY making it on before.

BUT, there was this little pile of money. And it turned out to be JUST enough to ride us through. Along with a little help from our family, our friends, and our church.

Today is the first day that I've been able to come back to work full-time. Which means we've learned to live on a LOT less, and now I'll be able to save more than I used to. I've certainly learned a valuable lesson about emergency funds.

I hope my experience never happens to any of you. But if unexpected, life-changing disaster does strike, I hope you have an e-fund to help you ride through to the other side.

Thanks for reading,

Print the post  


UGC Disclosure Notice Regarding Credit Card Posts
Community board discussions about credit cards are not provided or commissioned by banks who may have advertising relationships with The Motley Fool. Responses have not been reviewed, approved or otherwise endorsed by the bank advertiser. It is not the bank advertiser's responsibility to ensure all posts and/or questions are answered.
TMF Credit Center
The Motley Fool Credit Center arms you with real tools and simple messages, that will help you in every credit situation.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.