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Wednesday, June 5, 2013

Sweeping Under The Pouring Rain and Emergency Fund

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Last Sunday I was enjoying a cup of hot mocha latte at Starbucks while watching the rain outside. I saw one guy sweeping the water away from the walkways and stairs. It seemed like a futile thing to do because the rain water kept on pouring down and when he got to the end, he had to come back and swept again.

What would you have done in that situation? If this was your own house, you would probably have waited until the rain had stopped before began sweeping. Well, I would anyway.

We often do not like doing something that seems futile and has no immediate or apparent results. For example, building a sizable amount of emergency fund. There seems to be countless emergencies popping up draining away our emergency fund, and we keep on trying to replace the depleted account. It may feel futile and sometime we just want to give up.

When you want to give up, remember the lesson from the sweeper. He kept on sweeping because he wanted to minimize the risk of people falling down due to slippery walkways or stairs. It was not futile because it was about minimizing loss and risk.

When we build our emergency fund, it is also for minimizing loss and risk. We reduce the risk of falling back into debt. It is not a futile thing to have a money cushion in the event of emergency or unexpected situations.

If you are still struggling to build your emergency fund, don’t give up! You are on the right track and sooner or later you will get there. Press on!

Learn and grow!
Inge Santoso, B. Com, CFP®

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