Question about should I “emergency fund” or not. I do already set aside $150 a month to our savings account but during the months of November thru April I tend to rely on the money in our savings to help cover monthly expenses as well as Birthdays and Christmas. Background: my husband is a seasonal employee (has been since before we met and loves what he does, we’ve been married 11 years and he hasn’t changed yet. so I’ve adapted) and I have learned to set aside money from my paychecks (paid bi-weekly so $75 each check) and any overtime he receives when he is working to our savings. I just started budgeting the TBM way this month and am trying to save money toward birthdays, Christmas, and () a vacation this fall using Miko’s sinking funds method to hopefully cut down on using the money from our savings for these specific expenses. What I did not budget for is an emergency fund as I use my credit card for that. I only have the one, which is through my credit union at 7. 9% interest (I believe ). I don’t use it often, in fact I only used it twice last year but still owe just under $1, 400 on it. The reason I am asking is because last night my husband got hurt and we ended up at the doctor first thing this morning which was an unplanned expense in our budget. His copay is only $20 but he owed $52 from a visit in January that his insurance didn’t cover. So we ended up paying $72 today there, and he needed X-rays so no idea until that bill comes what his insurance will/will not cover. After reassessing my budget tonight for what I need to roll over for next months bills before payday next Friday, I now have just shy of a $100 cushion in our checking account. Do I take that and put it into an actual emergency fund? Or do I leave it be and continue to rely on my credit card for big emergencies? Any advice appreciated. I really thought I was doing well for my first month and then this happened which made me realize the one thing that I didn’t budget for.
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