Why do I keep dipping into my emergency fund?
On Sunday night, Jiwoo takes out the money they saved this week. Counselor Golden Child looks with them at where it goes.
Jiwoo meant to build an emergency fund, but every Sunday night they take money out of their account. With Golden Child, they look at where it goes.
On Sunday night, Jiwoo transfers money from their emergency fund to their everyday account. By Monday morning, the credit card bill comes out, and the emergency fund is empty again. Golden Child Child watches with Jiwoo as they move the money, then asks what expense it’s covering. Jiwoo hasn’t found an answer yet. They look at the next card bill alert.
When you keep dipping into your emergency fund
Instead of focusing only on the money going down, look at where it goes each time. You may notice something different.
When you dipped into your emergency fund, where did the money go?
That moment of moving money from the emergency fund to the everyday account keeps coming back to me. The money I meant to save has been covering my card bill every week. If you’re going through similar Sunday nights, you’re welcome to talk with me about where your money goes.
Scenes
- 01 · Sunday night Moving it again this week — On Sunday night, Jiwoo moves money from the emergency fund to the everyday account.
- 02 · Card bill alert The money is gone — On Monday morning, an alert says the card payment has come out of the everyday account.
- 03 · The account is empty again Showing the balance — After the card payment comes out, only a small balance remains in the emergency fund. Jiwoo: I end up taking money from here every week. Golden Child: Ah, the money goes to the same thing every week. What expense is waiting for you each time?
- 04 · Before the next alert Will it come again next week? — Jiwoo looks at the phone as the next card bill alert appears, then falls silent. Golden Child: Jiwoo, while you wait for the next alert, what’s the first thought that comes to mind?
Stories by Golden Child
- Golden Child
- Even after dinner, I can't get back to what I left unfinished.
- After the meeting, I get back to my desk and my coworker’s praise is the first thing that comes to mind.
- I look over the utility bill, and the whole morning slips by.
- A number from the celebration
- I dream about money I still owe as I get ready for work.
- Even if you pick a number while thinking of someone you’re grateful for, the feeling stays with you.
- I’m about to answer my parents, but I start scrolling through social media again.
- I want to tell someone I’m hurt what I need, but I keep thinking of that day at the funeral home.