Revisiting the Emergency Fund
I have talked a bit about our emergency fund in the past. Since I made that post, we have actually changed it a bit since Ally changed to allow you to add buckets. For the past year or so, our e-fund has been:
- Emergency Fund- $20,000
- House Emergency Fund- $10,000
Previously we were not accounting for the house emergency fund at all so that would have been extra on top of the $30,000. With life going the way it was, we felt it was okay to scale it back a bit and not have $40,000 (the original $30,000 + $10,000 for the house fund) for the total in the e-funds. Then the last 1.5 weeks or so happened. Now, to say I am concerned would be, again, an understatement.
As those who have been here for a second all know, I currently live in Florida. Florida is a red state as far as politics are concerned. Technically it is purple, but Republicans control the state. This means that when/if Roe v Wade gets eliminated, the other laws I mentioned are all fair game. I do not for one second think that it will be safe to be a black female in an interracial marriage in this area for very long. Some may say that I am overreacting, but no one asked for those people’s opinions. The long and the short of it is that it is dangerous to be black in this country. When most of the people who look like me who I know in the area are making plans “just in case”, you make a fucking exit strategy. Cause the writing is on the wall at this point.
And with that, we turn to the emergency fund. If we have to leave Florida, we’re going to need money to do that. Is a total of $30,000 enough considering we would be replacing some things and moving quite literally everything? In this real estate market/rental market? I would love to think so, but more than likely not. So, time to increase it. Not sure how soon we will be able to do it given the delays with everything construction right now, but getting the fund to $50,000 would be ideal. That would be an additional $20,000 which makes more sense. Especially since where we would be moving is still up in the air. Whether we move to another state or another country. Is this doable with the other goals this year? Who knows? If we get to this point, the other goals are pretty much on hold/dead in the water.
I would love to be wrong about being this cautious with everything. That would mean that things that moving in another direction and the elections in November go well. However, the way things are right now, it would be stupid not to have a Plan Z just if you can. I truly hate that we have reached the point where we need to think about this shit. 🙁
Feature Photo by elaine alex on Unsplash
We have definitely upped our Emergency Fund this year. I hope you and your family stay safe.
Thanks! Same to you and your family.
Thanks for reading.
I’m sorry that moving is something you even need to consider. I’m so angry about *waves arms* that I don’t know how to express it.
I don’t know at this point either. At this point, there is so much going on that I think I will eventually go completely numb or start laughing manaically. This country/world is nuts. Thanks for reading.
I’ve been reading up on Roe v Wade and I’ve been very perplexed by the development. Why the need to do this? For context, I’m from Malaysia where abortion is still illegal, unfortunately. I have always admired that women in America have this choice – even if, due to my Christian beliefs I prefer that abortion is not done unless absolutely necessary. I don’t believe in enforcing laws or forcing people to “agree” with my POV. But if I’m not mistaken, Roe v Wade has not bee not been overturned, right? There’s still hope?
Hiya. It has not been overturned, but it will be. There is no way that the court is going to change their vote from the preliminary vote given their opinions and leanings. It will be fought, but it is getting overturned. It’s absolute bullshit, but that’s the price of having a mad man be president for four years where he got to pick more justices on the supreme court than anyone. Between that and gun laws, the next 2-4 years will make or break this country.