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Realized I was treating my emergency fund like a vacation fund for way too long
It finally clicked when I saw my 'emergency' savings had paid for 3 weekend getaways last year. I had to admit I was just keeping the money in my checking account so I could grab it whenever I wanted. Anyone else have a similar wake up call about their savings?
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robin_foster14d ago
Right, I called mine a 'rainy day fund' but kept buying umbrellas.
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lee.lucas4d ago
Oh man, I literally just read an article about this exact thing last week lmao. It was saying how a lot of people keep their emergency money way too easy to grab, and then they spend it on stuff that's not really an emergency. I remember the writer called it "the checking account trap" or something like that. The solution was to move it to a separate high yield savings account where it takes a couple days to transfer out. That little delay helped me stop impulse spending my savings too. Now I actually have to think if something is a real emergency before I can touch that money.
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