Unexpected Expenses

They keep coming. Arg! The need-to-fix-now expenses I have had in the past 3 months:

The Battery in My Car Died. I had the battery replaced, but the tech either overtightened the bolt on the contact, or the battery contact was larger than the terminal for my replaced battery. Turned out to be the latter. Mistakenly replaced the battery only to find out it was the terminal connector. Whoops... $260 total.

My Bike was Stolen. Went to a town hall lecture and some low life stole my bike. Used a cable lock - will only use U locks from now on. I have not yet replaced the bike, but it should be around $400-$600.

Illness. Had some sort of stomach/intestinal infection that did all kinds of nasty things. Went to the ER. Diagnosis is some type of bacterial infection. On home care unless things get worse (I'm doing better). Have not yet received the medical bill. I'm guessing since I haven't reached my deductible for this year, it will be around $150.

It's a great thing I have money socked away for this. My debt payments are on track, and I have plenty of money stashed for upcoming expenses. My oh-no-crap fund is doing it's job nicely.

Savings Account will Keep You in Control

Blogging Away Debt has an article about how an emergency fund helped her keep her cool during unexpected expenses via taxes. More About Emergency Funds, Rainy Day Funds, or Whatever You Want to Call Them"

There are a couple of things she mentions that I can relate to:

She was against the idea of having money in savings when that money could be used to pay down the debt. I want to get rid of the debt, and I want to do it now. However, without money in savings, I will have to borrow against someone else's money in a jam. With a savings account, I borrow against myself.

Emergency struck, she cried and was upset. Except with a savings account, she was in control. She paid for the money in cash she put aside for herself. No loans, no late penalties, no interest rates. Just straight up, paid up.

I was able to grow my savings by having it withdrawn automatically from each paycheck. I budget my remaining money for bills. Pay yourself first! Bank of YOU is investing in you. Everyone else gets the scraps, not the other way around. It's amazing what a difference in that mindset makes. You are the most important bill that needs to get paid.