See Jane Get Rich » Emergency Fund http://seejanegetrich.com A Personal Finance Blog Mon, 30 Aug 2010 17:26:00 +0000 http://wordpress.org/?v=2.9.2 en hourly 1 The Importance of Emergency Funds http://seejanegetrich.com/2010/02/the-importance-of-emergency-funds/ http://seejanegetrich.com/2010/02/the-importance-of-emergency-funds/#comments Mon, 15 Feb 2010 16:13:44 +0000 seejanegetrich http://seejanegetrich.com/?p=555 I’ve woken up to find out that there is a possible emergency brewing in my family.  My grandmother had a fall yesterday and she is currently hospitalized.  There are some possible complication’s that at this time sounds like a stroke.  But, we are not sure at all.  I am hoping that she will stabilize.   

If this situation gets worse then Bum, my parent, will need to fly out to the “Old Country” to visit my grandmother.  And of course, that means I will be the one shelling out the dough to get Bum there since Bumt doesn’t want to dip into the money that is being saved for the first installment on my loan.  Translation =  there isn’t much saved to begin with. 

I’ve about $10k in hand that is easily accessible.  If this situation gets worse then I will, without a doubt, shell out for a trip abroad and wait to impart a financial lesson about the importance of emergency funds to my parent (!) later.  I checked the flights and right now they are coming in at $1,140. 

This is such a delicate personal situation that I don’t think this is the time to cut Bum off to show that I am no longer the safety net.  This situation has definitely shown me that if I don’t set up some ground rules then I can easily become an ATM.

Update: 2/19/2010

My grandmother is doing much better and we do not believe that she had a stroke.  Thank you for your support.

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