Testimony from Amanda of Finding Joy in Depression
It was a quiet Friday evening. My husband was running an errand on his way home after work. He stopped at a stoplight and the unthinkable happened: he was rear-ended.
Thankfully, my husband was completely fine. The tailgate door and the bumper of my van, on the other hand, were both crushed and in sad shape.
When reporting the claim with our insurance company, we were informed that we’d have to pay the $500 deductible up front and wait to be reimbursed despite the fact that the other driver was at fault. My former self would have been relieved that the money was coming back but completely panicked in figuring out how we’d come up with the money.
But, we no longer needed to panic about the unexpected. We had a secret weapon. It’s called an emergency fund.
A few years ago we committed to funding an emergency fund at $1,000. Having children and owning a home, we didn’t feel like $1,000 was enough. So, we increased our goal to $2,500. Now, we keep our emergency fund between $2,500 and $3,000.
Rather than floating the money on a credit card or trying to juggle cash while praying that payments to our bills wouldn’t bounce, we used our secret weapon. I simply moved the money out of the emergency savings account and into the checking account.
From the checking account I paid the $500 deductible at the body shop. A few weeks later, the $500 reimbursement check arrived in the mail, and I replaced the $500 that had been taken out of emergency savings.
Pretty cool secret weapon, huh?
Amanda Pelser is a work-at-home(schooling) mom of two young boys who has been married to her high school sweetheart for nine years. She opens her home as an encouraging and inspirational shelter for the heart of moms through stories of faith, motherhood, and homeschooling at ThePelsers.com. Amanda is the author of Finding Joy in Depression and runs her own virtual assistant and WordPress maintenance business from home in an effort to reach her family’s goal of being debt-free.