TIL that my "emergency fund" was actually just a vacation fund in disguise

I kept patting myself on the back for having $3,000 saved up. Then last month my car's transmission went out in Phoenix and the repair was $2,800. I had to pull from it and suddenly felt broke. It hit me that I never actually labeled that money for emergencies, I just liked seeing the number go up. Anyone else realize they been lying to themselves about what their savings is for?

3 comments

3 Comments

murray.robert11d ago

@phoenix_martin40 I started calling it my "car repair or dog surgery" fund and it finally clicked for me.

cole_murphy10d ago

Man, I felt that one. @phoenix_martin40 I swear my "rainy day fund" turned into a "I want tacos and a new video game" fund faster than I can admit. I finally named mine "the something will break soon" account and it's the only thing that stopped me from touching it. Still doesn't mean I'm prepared for when it actually does break though. Pretty sure I'll just stare at the number and then cry into a pillow when my water heater finally gives up.

phoenix_martin4011d ago

Honestly, this reminds me of my buddy Dave. He was so proud of his "oh crap" fund, had like four grand in it. Then his dog needed emergency surgery for eating a sock, cost him almost all of it. He told me the same thing, he just liked watching the number climb and never actually planned for when he'd need it. Tbh, it's a trap a lot of us fall into, thinking the money is for a rainy day but not defining what that rain looks like. Ngl, I had to learn the hard way too after my fridge died and I realized my "savings" was really just shy vacation money. It's a weird wake up call for sure.