3. When have you had to actually use your Emergency Fund?

When have you had to actually use your Emergency Fund?

Lost my job during covid. Decided to take 3 months to reconsider life then found work again fairly quickly. Was unemployed for 5 months in total.

Couldn't have been so relaxed about it without a healthy emergency fund. But truth is I barely touched it.

From the day I found out I was losing my job I was owed 2 months pay. We always live on less than I earn anyway so that could stretch 4 months without any real frugality. Plus a £10k 0% credit card for 24 months to defer some spending.

Only reason I touched my emergency fund is because we went on a family holiday. Hardly an emergency.

Having your finances in order is hugely important when things go south.

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