If you are living in an apartment, you are probably used to the idea of having to have an emergency fund. You never know when an emergency is going to happen and it is nice to have that safety net in place in case you have something come up and are worried about paying the rent. That money is yours, which is why it can seem so infuriating to have to worry about whether or not you are able to spend it. But if you spend the emergency fund all the time, you are going to end up in some trouble when there is an actual problem that will need your attention.
The less that you take out of that emergency fund over time, the better. This is often a sign that you are doing a good job managing your finances and taking care of what needs to be done. Remember that once you spend some of your money in that fund, you will have to add that line back into the budget and refill it in case another issue comes up.
If you do have an emergency and are considering using the fund to help pay for some of the expenses that come up, there are a few things to consider. Some of the questions to ask include:
# Is this unexpected? If this was something that you should have been planning on, then you need to add it to your budget and make sure that you are good to go next time. You should not rely on your emergency fund for some of those big things that come up all the time.
# Is it necessary: Sure, it may not have been expected, but that doesn’t mean that it is something that you need to spend on. If it is not a necessary expense, then do not dip into your emergency fund at all.
#Is it urgent: Is this something that you need to pay for right now, or can it wait until you have a chance to save up for it? If it is the latter, then don’t touch the emergency fund.
If your student is heading off to college, then it is time to look for some good student housing that is going to make them feel comfortable. We welcome you to come take a closer look at our student apartments for rent near UNR. We are confident the space will be perfect for all your needs, with a lot of space and great amenities rolled into one. Contact our team today to take a tour and learn more.
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