She Strengthens

The Uncomfortable Truth About Emergency Funds

Financial conversations are often taboo, even among friends and family. But what if we dared to be honest about our emergency funds? We asked our contributors to share their current emergency fund balances, and their responses were surprisingly candid.

From Zero to Hero

Claire, a 23-year-old secretary and graphic designer, has a humble $40 in her emergency fund. After being fired last June, she’s been working hard to rebuild her savings. Despite her tight budget, Claire is determined to save for peace of mind and avoid going into debt.

The Power of Preparation

Shannon, a 26-year-old writer, has a combined savings and credit limit of $800. She and her fiancé have been setting aside $50-$200 from each paycheck to prepare for the unexpected. Shannon believes that having an emergency fund helps her stay calm in the face of uncertainty.

A Cushion for Life’s Surprises

Alice, a 23-year-old staff accountant, has a whopping $61,725 in her bank account, plus an additional $82,610 in easy-to-access stock markets. She and her husband have no debt and have been saving aggressively since college. Alice credits their emergency fund with reducing financial stress and making their marriage stronger.

Learning from Past Mistakes

Amanda, a 28-year-old chemist, has $4,500 in her savings account. She learned the hard way about the importance of emergency funds after her car broke down and she was forced to max out her credit cards. Now, Amanda prioritizes saving and has a plan to use her emergency fund for future expenses.

Discipline and Determination

Hannah, a 24-year-old training specialist, has reached her goal of saving $6,000 in her emergency fund. She achieved this by setting aside a fixed amount from each paycheck and prioritizing her expenses. Hannah’s emergency fund has already helped her navigate unexpected job loss and a mold infestation in her new apartment.

Small Steps Add Up

Paige, a 25-year-old client manager, has been adding $100 to her emergency fund each month since 2014, bringing her total to $2,400. She believes that having a safety net, no matter how small, can make a big difference in times of need.

Homeownership and Hard Lessons

Darby, a 24-year-old operations team lead, has $778.34 in her emergency fund. After buying her first home, she realized the importance of saving for unexpected expenses. Darby now prioritizes her emergency fund to avoid financial stress and maintain her independence.

Starting Small

Katie, a 24-year-old clinical consultant, has been saving $10 from each paycheck into her emergency fund since starting her job at Dillard’s. She also sets aside $10 weekly from her regular bank account. Katie believes that starting small has helped her develop a savings habit and think about her family’s future.

These stories show that having an emergency fund is not just about the amount; it’s about the peace of mind that comes with being prepared for life’s uncertainties.