How My Money Ghosted Me in Casper, Wyoming
In the next few months, you will see brands and companies ramp up their marketing for your dollars. The holidays are right around the corner. So it's good to have a plan. Let's talk about another plan you should consider.
A few years ago, I was driving to Cheyenne, Wyoming, with my little sister. I decided to visit my best friend and book a hair appointment - 8 hours away from my house (if you lived in the Northwest, you know the struggle).
Me on my last missile alert, somewhere in Montana.
As I was driving 80 mph (the speed limit), my car began to slow down out of nowhere. We went from 80mph to 0 mph in seconds - scary! We pulled over to the side of the road without incident and started praying. I checked my oil and it was running low. So my car puttered at 40mph to the closest gas station. I poured the oil in and was on my way, or so I thought.
Twenty miles from the gas station, my car went from 80 to 0 mph.
Something was wrong, and it was time to enlist an expert. We were stuck with no cell service in Casper, Wyoming. A man stopped and offered help. He lay on the dirt road to see what was happening. He called a tow truck and waited until they came. Once at the Honda Dealership, they were closing and told me it would take a day to fix. So now, I was in the middle of Wyoming with my pre-teen sister with no car, little cell service, and six hours away from a friend's house (who was also returning home from the East Coast). Every hotel was booked for a motorcycle rally. I booked an Airbnb with a family.
There were so many unexpected costs that day:
Unknown car maintenance costs
Airbnb
Uber to Airbnb
Dinner
Thankfully, the family fed us dinner and breakfast and took me to the dealership to pick up my car. What a blessing! We would make it to our destination a day later and have a good time in Cheyenne with my friend. But the same issue happened 10 miles outside Casper on the way home. This time, I left my car at the Honda Dealership for a week and had to rent another!
Even more expenses:
Rental car expenses for a week
Additional maintenance expenses
Roundtrip gas to pick up my car and drive back home
I was so glad I had an emergency fund for this emergent situation! I never had any issues with my car up until this point. Even though I was panicking, I knew I had planned for it. Even though I didn't want to pay the money, I did have it! This story is an excerpt from my first book, Set Your Truth Free. It was relevant to share as it pertains to emergency funds!
Emergency funds should consist of 3-6 months of expenses. Why? Because life happens, Casper Wyoming events happen. I recommend saving this amount in a High Yield Savings Account (HYSA) to receive higher interest than a regular savings account. I use Marcus by Goldman Sachs for mine. Read more about HYSAs here.
Were you encouraged to open up a HYSA? If so, let me know below.