I remember the phone call clearly. I could tell from the sound of my husbands voice that he wasn’t calling just to say hello. Something was definitely wrong. “Babe,” He said, “I’ve got bad news. They laid me off today.”
My heat skipped a couple beats. “There go my Black Friday shopping plans”, was my first thought. “How could they do this to us just before Christmas!”, was my second. After a couple of deep breaths, a few mental calculations and a long chat with my hubby, we knew, despite the shock of being laid off, we’d be ok. We’d been smart, we had stuck to our budget, and we’d put money aside in case of an emergency. This wasn’t quite the emergency we had in mind, but never the less, the money was there.
For over a year we had diligently put money aside each month. Saving $100 each week wasn’t easy, but the peace of mind in knowing that we had an emergency fund in place for if and/or when we’d need it was priceless. And it was a good thing too! Hubs was off work for over 2 months!
Fortunately he’s back to work now and we’re back to saving as much as we can each week for the “rainy day” that will inevitably come. Fingers crossed its not the same kind of emergency as the last time!
Even with the Holidays upon us, its important to continue to save and put money in the emergency fund. It’s far to easy to get caught up in the hustle and bustle of the holiday season and lose sight of the goals we’ve set to help us achieve financial peace of mind! Once the Thanksgiving celebrations are done, be sure to add Capital One 360’s Black Friday Sale to your shopping list. Visit Capital One 360’s site to give yourself the lasting gift of financial peace of mind by taking advantage of Capital One 360’s deals on banking, brokerage and mortgage products.
In addition to taking advantage of deals on banking, brokerage and mortgage products yourself, you can give your friends and family the gift of financial peace of mind by encouraging them to take advantage of the deals and refer them to the sale. If they sign up, you may be eligible for a $40 referral bonus.
Do you stick to a budget year round? Do you have an emergency fund? Have you ever had to use it?
I was selected for this opportunity as a member of Clever Girls and the content and opinions expressed here are all my own.