Emergency Fund Tips From Kiplingers
May 30, 2008 | personal finance | Comments (0)Cameron Huddleston of Kiplinger had some great advice on how to get an emergency fund started. Her own story proves that sometimes unbudgeted expenses can get even the most financially savvy of us.
In my case, I had a surprise tax bill. I got a refund the previous year, so I didn’t expect to owe the IRS — especially not close to $3,000. Plus, my husband and I had been paying down high-interest debt. That left our account balance pretty low at the time our accountant finished our tax returns — only one week before the filing deadline. To top it off, I had a quarterly estimated tax payment due at the same time.
So I wiped out my account to pay Uncle Sam and relied on birthday cash from my mom to buy groceries until my next paycheck arrived. It was a terrible feeling being broke — even if it was just for a few days.
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