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Tag: rainy day fund

You’re Saving Too Much Money in Your Emergency Fund… And You Might Not Need It at All

October 13, 2022October 21, 2022 Lauren Torres ("Kitty") 18 Comments

We, the Bitches, have said many times that emergency funds are absolutely foundational to financial stability—which makes it wild that today, I’m here to completely contradict myself and say you might not need an emergency fund at all!

When we first started this blog, our frame of reference was regular folks. We gathered experiences from friends and coworkers who were mostly young and broke, with neither interest nor experience in managing money. Overwhelmingly, those people needed emergency funds and often didn’t have them.

Now we have a healthy readership of self-identified personal finance nerds… and we’re seeing the opposite problem! These people took the “build an emergency fund” step and ran with it. But like, past the goal post, straight out of the stadium, and deep into Parking Lot B. They’re sitting on shockingly large piles of cash, afraid to spend or invest, chasing ever-higher amounts for “safety.”

So today I want to talk about why you might not need an emergency fund. Or at least, why you might not need a classic emergency fund (i.e., the giant pile of X months’ expenses in cash). In some cases, it’s a smart, strategic decision to have a smaller or less traditional emergency fund. Especially if there may be better uses for your cash right now.

It doesn’t apply to everyone—but if you’re reading this blog, odds are good it applies to you!

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I took 1 shopping list to 17 grocery store chains over 3 days. Here are the winners, losers, and secrets I discovered about cheap groceries. #ToHellAndBackForCheapGroceries  ✔ Read a text version (with links to all our sources) at BitchesGetRiches.com.
✔ Discover more frugal life hacks at BitchesGetRiches.com, including our Cheese Cracker and Sandwich Cookie Taste Tests.
✔ If you like us, share us on your social media platform of choice.
✔ Subscribe for more money, career, and adulting wisdom.
✔ Support our work on Patreon.com/BitchesGetRiches.
✔ Join our Burnout Workshop at BitchesGetRiches.com/Courses  00:00:00 Introduction
00:02:22 Disclosures
00:02:45 The Investigation
00:04:16 The Methodology
00:19:24 #17 Whole Foods
00:23:32 #16 The Fresh Market
00:27:47 #15 Roche Bros
00:30:25 #14 CVS
00:33:15 #13 Walgreens
00:36:14 #12 Shaws
00:40:49 #11 Seabra
00:44:04 #10 Stop & Shop
00:46:13 #9 Market 32
00:50:50 #8 Trader Joe's
01:03:41 #7 Price Rite
01:10:42 #6 Target
01:21:18 #5 Dollar General
01:25:46 #4 Wegmans
01:35:02 #3 Walmart
01:39:27 #2 Aldi
01:49:14 #1 Market Basket
01:55:52 Why Market Basket
02:12:10 Conclusion
See More on YouTube


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