How valuable is the emergency fund? Do you want to keep investing or go back in to debt? The emergency is the thing protecting your future investments. My family & I had a first hand experience last week.
I was acutally in the middle of a coaching session when my wife called & text me. I knew something had to be wrong. She is stuck in our church parking lot with a dead car. There is a new battery in the car, so that's not the problem.
Turns out the alternator went bad! This would normally be a moment where stress hits about how are we going to pay for this? Where do we move money around? Do we use a credit card? Which credit card? I've felt all of these thoughts first hand in the past.
Not this time. Car was towed, new alternator put it. Done deal. No stress. That feeling is invaluable.
Step #3....very important!