Hit $10,000 in savings and got scared straight

I saved up $10,000 over two years of pressure washing gigs. Never had that much cash in my life, felt like I was doing something wrong. But then my truck needed a new transmission out of nowhere and it cost $3,800. That wiped out over a third of my savings in one day and I realized how fragile that number really was. If I had gotten sick or lost a big contract I would have been in trouble. Now I am pushing for a bigger emergency fund, like $15,000 or more, because life hits hard when you least expect it. What number did you think was safe until it wasnt?

2 comments

2 Comments

milalewis18h ago

i remember reading somewhere that like half of americans can't cover a $1,000 emergency and it really put things in perspective for me lol. $10k sounds huge until you realize one transmission or a short hospital stay can wipe it out fast. i had a friend who thought she was set with $5k and then her AC unit died and her dog got sick in the same month, boom money gone. it's wild how fast the cushion disappears when you actually need it. i'm not at $15k yet but hearing stories like yours makes me want to push harder for it too.

shane_wilson16h ago

Agree with @milalewis but honestly I think people blow this out of proportion sometimes. Even with that $3,800 hit you still had $6,200 left which is way more than most folks have in total savings. The real problem isnt the number, its thinking any number will make you totally bulletproof because life is always going to find a way to take a chunk out of you.