I have a low five-digit savings account as an emergency fund that is yielding 1% but is mostly just sitting there. It represents about nine months worth of living expenses for me.
Last Wednesday I was hit by another car. Turns out the vehicle is state-owned, which means it could take up to 90 days to hear back about the status of my claim for damages. Reimbursement could take even longer. Oh the joys of local government.
That means I'll be paying out of pocket for towing ($200-300), repairs ($4-5,000), and an SUV car rental for at least one month ($1500-$2000) [need the extra space for work] before I see any of that money back.
Did I mention I'm buying a house and traveling out of the country in the next few weeks as well?
Build and keep a savings fund kids!
Submitted April 24, 2017 at 06:35PM by gcxlg http://ift.tt/2pYsqg7
