Interest Time, LCEF News

7 Reasons Everyone Needs an Emergency Fund

June 28, 2018 | Posted by Demian Farnworth

As Lutherans, we live by faith, knowing and trusting that God always has our backs.

“God works in mysterious ways” is a saying many of us have heard. Within that mysterious way, comes unexpected events in our lives. As good stewards, we’re invited to be financially prepared for opportunities of giving and saving. Having an LCEF Family Emergency StewardAccount® can be a powerful safety net for those times. Here are seven reasons why.

Car troubles

As best as we do to take care of our vehicles, it’s still a machine that will wear down. You just never know when something will go wrong, then having an emergency fund to get your car serviced when it breaks down is essential.

Medical Emergencies

Keeping up with a healthy lifestyle will definitely help avoid medical emergencies, but sometimes we still end up in the hospital. Though many of us might already have insurance, an unexpected trip to the dentist might not be covered.

Loss of Employment

We may have faced it ourselves or have seen it happen to others. Sometimes people will get laid off or people decide to leave a position for personal reasons. Your emergency fund can be a blessing when you need help between jobs.

Forgotten Bills

Life is busy, and with that, we sometimes forget things and need to have the resources to pay a bill that may have slipped through the cracks. Property taxes? Insurance? With your emergency fund, you can pay it and make a note not to forget next time.

Family Emergencies

We know and trust that God watches over us. Nonetheless, when a loved one ends up in the hospital, having an emergency fund to cover the costs of travel can allow us to worry about one less thing. This could also be for a time of celebration with the birth of a new family member.

Relocation

Sudden moving expenses can be a burden, especially when an opportunity for career growth has been presented. But you can be assured that when you have enough in your emergency fund, these expenses can be covered or aid in covering those costs.

Most importantly, when you invest with LCEF, your investment goes to helping support the Christ-exalting work of LCMS church workers, congregations, schools and organizations.

Want to learn more about LCEF’s Family Emergency StewardAccount? Visit lcef.org/stewardaccount or call 800-843-5233.

 

Originally appeared in the 2018 spring issue of Lutheran Church Extension Fund’s official magazine, Interest Time. View a digital version here.

AUTHOR
Demian Farnworth
Senior Content Writer for the Lutheran Church Extension Fund.