Have you got an emergency fund?

Hello Dear Reader,

We learnt our lessons a few years ago and now make sure we live beneath our means. We spend only a fraction of what we earn and make sure we now save the rest. Some goes into over paying the mortgage and some goes into savings. We have money to pay annual bills and if we need anything or can justify a want such as an annual holiday.

We also know that sometimes, salaries and tax codes can get messed up. Imagine this, I opened my salary information and discovered that my pay was considerably less than usual. It was too late for phone the tax office to find out why I had been charged a mass more tax than usual or to discover whether I owe them money or if this is just a mistake. 

If this had been four years ago, with credit cards maxxed out, with my over draft at the limit and no savings, this would have been an utter crisis. How would I pay the mortgage, how would I fill the car with fuel, how would I pay for the groceries? Anyone who knows about tax and payroll, know sometimes that mistakes are made. I'm on the same tax code I've been for the past financial year and had the same pay for that duration and this month, I assume there's been a mistake. Four years ago, this would have been an agonising worry as I might have to wait weeks for the money to get back to me in the next salary payment and I genuinely would not have had enough money to get by. Tomorrow, I will be able to calmly phone the tax office and payroll and ascertain what has happened and go on from there. If I owe it, then so be it. If it's a mistake, then I will get it back.

Tonight, we logged onto our online banking details and simply moved money from savings to the current account. The mortgage will be paid, as will all our direct debits. Crisis averted. In times like this, it is so important to have savings as things like this happen from time to time. 

Until tomorrow,

Love Froogs xxxxxx