MURPHY REPELLENT:  THE EMERGENCY FUND

Remember Murphy's Law?:  "When something can go wrong, it will."  Generally this seems to happen when we are the most vulnerable.  We cannot control the uncontrollable, but we can make ourselves less vulnerable with a cushion -- an emergency fund.

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Usually we begin this fund by quickly getting $1000 into some sort of account, fast.  There are some rare exceptions to this amount, and where it is located, but a good place might be a money market account.  We can discuss particulars.  This is your "beginner" emergency fund.  Now when the refrigerator needs a new motor or the car needs a repair, you suddenly do not go into panic mode or go into debt at 24% interest to pay for it.  One curious thing, too, is that "Murphy" just doesn't seem to visit as often when we have an emergency fund.