Some recent events - like my car being towed and getting locked out of my apartment - have had me thinking what my emergency fund is really for. Obviously, yes, anything that constitutes (in my opinion) as an emergency; any unexpected, rare, sudden occurrence.
For instance, if May had not been a 3-paycheck month, I would have had to take the towing fees out of my emergency fund. If one of my roommates had not been coming home soon when I was locked out, I would have called a locksmith and would have paid for that out of my emergency fund. Luckily, I have not yet had to dip into the fund to pay for anything!
I then made a list of what I would personally use my E-fund for:
- Job loss
- Medical expenses
- Taxes (if owe any)
- Other: out-of-city/state moving expenses, major car repair (if car fund doesn't cover it), plane ticket to wherever in case of a family emergency/death
Is there anything else you would add? What have you used your emergency fund for?