So last week, we started talking about 5 real emergencies that you should prepare for with your emergency fund. Those emergencies included the lost of a job, troubles with your car, a new addition to the family, the lost of a family member, and repairing damages to your home. So what are some other real emergencies worthy of you accessing your emergency fund?

6. Health: Your health sometimes takes a back seat as far as priorities go, but when you get really sick, it could be expensive. Whether it’s something as small as braces, or as big as surgery, keeping healthy can make a big dent in your pocket. It’s hard to say how much a health emergency is going to run you, even with insurance, but it’s safe to save up at least $1,000 for an unforeseen trip to the doctor’s office. Co-pays for visits and medication prices add up when you don’t even notice.

7. Relocation: When duty calls, sometimes you have to answer. Moving from one location to the next can get pretty expensive. Whether you’re breaking your lease or selling your house, you have to come out of pocket just to leave your current residence. Don’t forget the cost of a moving truck and boxes. When my fiance and I moved, we had to come up with last month’s rent for the place we were moving to, which was $1,175, another $1,000 for first month’s rent for our new place, then reserve a U-Haul for the day, which was about $75. So we spent $2,250 just to move! Depending on if you’re buying or leasing, your price varies. A good savings goal for this emergency is about $3,000 to take care of the miscellaneous events that go with moving that you may not be aware of.

8. Boot strapping a business: If you’re tired of running the rat race, working an 8-6 or 9-5, sitting in traffic from a long commute, and trying desperately to climb the corporate ladder, only to find yourself stressed, maybe starting your own business is the route to go. How is this an emergency? Your happiness in your career is important, and definitely constitutes as being an emergency. If you want to spend more time with your family, work from home or any other place you desire, you can start your own business. Becoming an entrepreneur doesn’t have to be expensive, but it could be. It costs to become a legal entity, whether a corporation or LLC. You may need a business license to operate in your city and/or state. You might need an office, equipment, software, or materials to get started. Depending on the business, you start up costs could be any amount, but a good starting point is a $1,000 to get off the ground.

9. Marriage: One of the happiest moments in your life could also be one of the most expensive events you’ll ever prepare for. Committing to your partner for life is something worth celebrating, not something worth going into debt for. Did you know the average cost of a wedding in America is well over $20,000? Ridiculous, isn’t it? When you and your significant other are preparing to tie the knot, budgeting is always a great way to prepare, but saving money to pay for a ceremony and possible reception of your dreams is going to help tremendously. I recommend saving between $5,000 and $10,000 to have a wonderful wedding with family and friends.

10. Divorce: It was the best of times, it was the worst of times. Some marriages just don’t work, and your next step is unfortunately divorce. As liberating or depressing as it may be for those involved, it can also get pretty expensive. Finding a good lawyer, dividing up property, etc. When you get separated, start saving up for the divorce. About $2,000 could cover the base charges that come with a split.

So how much do you have saved up in your emergency fund? Are you prepared for these real life emergencies? Is there anything else you would consider an emergency worth saving for?



Briana Myricks is a 20 something freelance writer and blogger. Striving for financial independence as a newlywed, she blogs about young married life at 20 and Engaged.