How do you determine an appropriate “emergency fund?” Would it make you feel more confident or just elevate your frustration to hear that it’s situation specific?
Maybe instead of asking how much is enough we should ask a different question. Instinctively we know having a stash of available cash easily accessible in the bank ranks high on the list of priorities, but why do we fight it?
Maybe because we feel our hard earned money isn’t doing enough with almost no interest being earned. In fact, it’s not even keeping up with inflation!
What if we called it an opportunity fund? People who have cash view the world different. For starters they get better deals on home and car repairs and large purchases, stress doesn’t compound medical challenges and they take advantage of good-for-the-long-term business opportunities or job offers.
If you started calling your emergency fund an opportunity fund, how would it change your view?