It’s Wednesday, which means it’s time to dip our toes into some financial questions.
(I was originally going to write “dive into our financial questions,” but then I remembered that diving off the side of a pool is very unsafe. Diving boards only, team!)
Today, my question is: do we need an emergency fund of stuff? I read this article on Money After Graduation explaining why we should all stock up on basic household items (including non-perishable food) as well as everything from contact lenses to makeup. If we lose our jobs, become ill, or find ourselves in a scenario where either “earning money” or “keeping up with our shopping” is difficult, we’ll have this emergency fund of stuff to draw on.
There are a couple of caveats involved, e.g. needing to have enough space to store the stuff and needing to have enough extra income to buy it all, but it’s an interesting concept and I’m curious to know what you think about it.
Discuss — or ask your own questions — in the comments.
Support The Billfold