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Posted by Lily Woodbury (MONEY FORUMS: 6, Answers: 3)
Asked on December 7, 2015 6:45 pm
I don't think there is a right or wrong answer here, except for the obvious stuff like not using it for vacations or a designer purse. I've found that one man's emergency is another man's Tuesday. For us, we used our emergency savings to cover our large and unexpected medical bills, my income when I was unable to work, and to pay moving costs when my husband was offered his dream job.
Unexpected medical bills, car repair, rent if you don't have enough money to cover it. Essentially, anything you can't live without....
I would use my emergency savings if my computer crashed or my car broke down. I would also use it to make sure I had a working cell phone. At nineteen I don't really have any other responsibilities.
things like a large car (or house?) repair, large medical bill, or to help make ends meet if you lose your job.