Rant: My 'emergency fund' win turned into a loss when I realized I forgot about my deductible

Last Tuesday my furnace died on a 15 degree night and I had to shell out $1,200 for a repair because I only saved $1,000 in my emergency fund, forgetting my homeowner's deductible was $500 higher than I thought. Has anyone else had their budget plan blow up because of an unexpected cost you just didn't think to save for?

2 comments

2 Comments

bailey.sam4d ago

$1,200 on a credit card sting feels familiar. My water heater gave out last July and I was short by $400 because I budgeted for the fix but not the inspection fee the city tacked on after. Like you said, it's always something you didn't think of. @sagea88 your buddy Tom's situation hits close to home. I ended up borrowing from my parents and it took me six months to pay them back. It's brutal when you feel like you did everything right and still end up in the hole.

sagea884d agoMost Upvoted

My buddy Tom thought he was set with his emergency savings until his dog ate something it shouldn't have and the vet bill was double what he saved for that exact reason. He had to put half of it on a credit card and is still paying that off months later. It's like you always miss one expense no matter how careful you try to be.