It’s a rule of life that things happen in three’s, right? I’m veering a bit out of Extension territory this week (or perhaps simply into Family and Consumer Science areas) and would like to advocate for healthy financial management- specifically, that you keep a solid emergency fund handy for when life goes sideways. The standard for an emergency fund varies, but typically is at a minimum around $1,000. This fund is not supposed to be used for any specific bill or expense that you KNOW is going to happen, but is instead designed for the “what if’s” or unexpected emergencies. I wanted to share how my emergency fund has been a blessing in the last few weeks.
Obstacle #1: vehicle trouble. I am the proud owner of a 2006 Chevy Silverado 1500 with 250,000 miles on it. The truck is in good shape, but it is old and well loved! A few weeks ago, as I pulled out of my driveway, I heard a “thunk” when I hit the brakes and realized I might have a problem. After safely getting it to the shop, I learned the power brakes had failed- a pretty simple fix. The shop ordered the part and told me I could drive the truck carefully around town until it came in. The issue was- I was due to head up to NC for a wedding and birthday party that same day. Fortunately, my dad came to the rescue and met me in SC to take me up for the weekend, which included shopping and purchasing a new-to-me car. There’s more to this saga, but for the sake of space, just know that I was very thankful I had an emergency fund and was able to pay for the needed repairs without stressing out too much or ruining my normal budget.
Obstacle #2: vet bill (the first one). I noticed the other week that my horses’ eye was a bit swollen and runny. It’s not unusual this time of year for horses to have allergies that make their eyes irritated, so I wasn’t too worried. I put his fly mask on, which prevents bugs and other irritants from bothering the horse’s eyes and waited. It looked better after two days in the fly mask, so I took it off as we were expecting rain/weather from Hurricane Ian that night. The next day the eye looked worse again, so I put the mask back on and started talking to my vet. Now, remember that truck issue? Yep, still in the midst of it! I do own a horse trailer but at this point, didn’t have a truck to haul it with. When the eye still looked bad the next morning, the folks that keep my horse volunteered their truck so I could take him to the clinic. Of course, when we got there, the eye looked 100% normal- but the vet did put him on a course of meds just to be sure. Again, all I could be was thankful that I had the finances to pay an unexpected vet bill, kind folks letting me borrow their truck, and people willing to do medications while I was away for work.
Obstacle #3: vet bill (the second one). I got home from work on Friday and found my dog had gotten into a bottle of ibuprofen- which is incredibly toxic to canines. I still didn’t have a vehicle but had a friend in town to visit who did, and we immediately took her to the vet. With a course of treatment in place, an overnight stay, and estimates of a $500-1,200 bill, we could do nothing but wait and see how her body responded over the next 24 hours. I got very lucky- the next morning, her kidney labs came back normal and the vet released her to come home with subQ fluids to run that night and the next morning. Fortunately, she is back to her happy little self and I have learned an important lesson about putting things up properly.
Can you tell it’s been a chaotic few weeks? I tell these stories just to emphasize how important financial management and planning is. It also reminded me how important it is to have an idea of what your budget is for emergency care- when the vet mentioned my dog might need to go to UGA if she got sick enough and the estimated cost was $5-8k, I knew I could not reasonably afford that and it wouldn’t be an option for us. Those decisions are hard to make normally, but even more so when you’re under the pressure and stress of having a sick animal. I am counting my blessings that I could afford to pay the unexpected bills and unendingly thankful for such an incredible community of people, friends, and colleagues in the county who helped made this stressful time just a bit easier to handle. So, this is your reminder to start an emergency fund and maintain it! If you need resources on managing your finances, check out the UGA FACS money page: https://tinyurl.com/UGAFACS or contact us at uge3181@uga.edu or 706-359-3233.
