A few months ago, after moving apartments and traveling to renew some official documents (passport, visa, etc.), I had exhausted my emergency fund.
It turned out that in my next pay period, someone in accounting had forgotten to file time sheets on time, so all the employees who were not paid a salary had to wait until the next period, which was another two weeks. Following the next pay period, I didn't receive any work for 4 weeks. Over the next few days, it followed that my university raised tuition by 2k (for international students) and was due very shortly, and my car died whilst out and about, resulting in having to tow it home.
I spent the next 6 weeks living off of about $15-$20 / week. Although this is still very doable, when you are faced with buying a new tube of toothpaste, buying dinner for a few days, and running a load of laundry, you will of course choose the food.
Everything quickly deteriorates. Your clothes get dirtier and dirtier, because you are wearing them all continuously. Your lack of hygiene becomes noticeable (can I really afford a haircut?). Your shoes develop tears and holes from all the walking (could not afford public transport). The worst part of it all, is looking at other people who are more than comfortable and wishing for their help but being far too embarrassed to ask for it.
It is an extremely rut to get out of. It's very hard to achieve goals when you have such little energy. The easiest way to prevent this situation is to increase the size of your emergency fund, by definition, you cannot plan for emergencies. I should not have used my emergency fund to move apartments and do some last minute traveling.
It turned out that in my next pay period, someone in accounting had forgotten to file time sheets on time, so all the employees who were not paid a salary had to wait until the next period, which was another two weeks. Following the next pay period, I didn't receive any work for 4 weeks. Over the next few days, it followed that my university raised tuition by 2k (for international students) and was due very shortly, and my car died whilst out and about, resulting in having to tow it home.
I spent the next 6 weeks living off of about $15-$20 / week. Although this is still very doable, when you are faced with buying a new tube of toothpaste, buying dinner for a few days, and running a load of laundry, you will of course choose the food.
Everything quickly deteriorates. Your clothes get dirtier and dirtier, because you are wearing them all continuously. Your lack of hygiene becomes noticeable (can I really afford a haircut?). Your shoes develop tears and holes from all the walking (could not afford public transport). The worst part of it all, is looking at other people who are more than comfortable and wishing for their help but being far too embarrassed to ask for it.
It is an extremely rut to get out of. It's very hard to achieve goals when you have such little energy. The easiest way to prevent this situation is to increase the size of your emergency fund, by definition, you cannot plan for emergencies. I should not have used my emergency fund to move apartments and do some last minute traveling.