What Your Emergency Fund Is For - Dave Ramsey Rant

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[lisadawley]

After three years of paying off over a $100k in debt, I finally have an emergency savings of $25, 000. Recently diagnosed with cancer, I can't tell you the peace of mind I have because those funds are there. It's one less thing to worry about.

[mattbono]

I had an emergency fund of $3K. My minivan with 196K miles broke down, and it wasn't worth investing anymore. Buying a used replacement minivan wasn't easy, but I did it, without a credit card or financing. Praise God, I endured the emergency. I am confident the fund will be built back up again.

[Glass]

I can honestly say no one has able me to think about my finances like Dave

[DJLEGION]

$13K in my emergency fund so far. That's about 4 months of expenses. I'm trying for $20K by the end of 2020.

[torijones]

I just got my first job out of college (graduated debt free) and started my emergency fund. $1, 500 in my check engine light came on. Something was wrong with my gas lines and it cost about $600. The emergency fund was amazing to have.

[jadine]

My life is about to change because of Dave Ramsey’s advice. I was looking for something completely different on YouTube when I found your video. I’m currently working on baby step #2 .God is good.

[untouchablex]

Thanks Dave. I saved 1.5 years of emergency funds because of you and riding out this storm. My dumb friends didn't listen and now they are in deep doodle because of the current situation.

[gamerschannel]

I am 33 years old and make $48, 000/year. I started Dave Ramsey’s program 2 years ago and in that time, I paid off $18, 000 in debt which was a combination of student loans and credit cards. I am almost done with baby step 3. I currently have $8, 500 and should have a fully funded emergency fund at the end of next month. Feels like forever but like Dave said, the $10, 000 fully funded emergency fund takes forever just like a foundation of a house. I wish I would’ve done these steps at 33. But I am hoping to say when I’m 43 that I was glad I did these steps at 33!

[Semiam]

Bulk up those emergency funds during the virus when you can.

[MinnieOnCam]

Found Dave Ramsey in the Spring when I dealt with an emergency, my place was completely destroyed. It got handled, but dealing with it made me realize I need to be prepared to take better care of myself

[netty]

I can’t thank this guy enough, wish I followed his programme sooner.

[youknowyoulikeit]

So true I was laid off from AT&T December first. I survived off my 401k. I now have learned to be prepared

[jaspdx]

This is the best explanation of the practical value of an emergency fund that I have heard. Clear. Jargon-free. Logical. Thank you.

[ChaceBonanno]

The foundation analogy says it all. Once you build your foundation/emergency fund, it remains there while you build on top of it.

[MiguelRPD]

Well I have $430 in emergency funds in my Ally Bank so far ...

[milenasings]

I listen to Dave regularly, although I never had loan in my life I still find is so helpful to stay motivated and save money. I mean...I’m doing baby steps as well. I was just able to skip Baby Step 2!
Debt free screams are the best! ❤️ Thank you Dave, for all of the people you’ve helped in your life!

[MrOccyc]

I really liked this explanation. I have an emergency fund and I was getting bummed about the low amount of interest. I needed to be reminded it was an insurance policy against emergencies.

[situated]

You must view your cash emergency fund like an insurance policy, and once you have it guard it carefully.  It is NOT a piggy bank.  You should not dip into it for incidental expenses. Use it only in the event of a true emergency, and hope that an emergency never comes. Remember, once that money is spent the time it takes to replace it is always much longer than anticipated.

[nicholasivey]

On baby step #3 for my emergency fund and got some money tucked away. Feels good to be debt free!!!

[danieldpa]

Amen - thank you Dave. Just rebuilding my fund after I took a part of it to fix my car