My emergency fund saved me from a $900 car repair last Tuesday.

The alternator went out on my Honda in the grocery store parking lot. I had been putting $75 a week into a savings account for about four months. It felt pointless until I could pay the bill without touching my normal checking account. Has anyone else had a small, regular savings habit pay off in a big way?

3 comments

3 Comments

stella9042d ago

the_miles, I used to roll my eyes at people talking about "interest saved" like it was some kind of life hack or whatever. I mean, who cares about a few bucks in interest when the bill is $900, right? But man, reading this post... it honestly changed my mind. That "interest saved" isn't really about the money itself, it's about not having to borrow or put it on a credit card and pay it back later with more on top. It's the difference between paying $900 and paying $900 plus whatever crazy interest rate your card charges. I get it now. It's like you're paying yourself a little bonus by not having to owe anybody else.

the_miles2mo ago

Ever think about the interest you saved?

spencer_thomas42mo ago

Interest I saved" is a fun way to put it. Mostly I just think about the extra pizza I could buy. That's a better kind of math.