The Healing Power of an Emergency Fund

You don’t deserve to live at the mercy of an employer.

If you don’t yet have an emergency fund, NOW is the time to prioritize it. An emergency fund is a key component in building financial independence. You cannot break free from the chains of a job if you don’t have at least basic living expenses set aside or other income sources coming in. The rule of thumb is to keep between three and six months’ worth of living expenses in your emergency fund. This includes expenses like: housing (rent or mortgage), food, utilities, and car payments (if applicable).

Having money saved gives you the power and strength to withstand the possible repercussions of being let go from your job. Because news flash: employers don’t actually care about their employees as human beings. They care about their bottom line.

Having the discipline to save regularly to create an emergency fund is especially empowering and life-changing. It’s an important skill to learn and practice throughout your life. You’ll want to keep your emergency fund in an account that is easily accessible (like a high-interest savings account) so that it is easy to use when an emergency arises. However, the downside of having that money easily accessible means that it can be incredibly tempting to spend that money on other things! 

Having an emergency savings account and not touching it will help you build strength and discipline that will serve you well in all areas of your life and journey to financial independence.

When you’re able to let go of stress associated with money, it frees your mind and opens you up to receiving positive energy. You’ll notice that money will start to flow more easily into your life when you have open arms to embrace it.