Many financial experts talk about having an emergency fund; a liquid source of money in the event of an emergency. There is another type of emergency fund that is very easy to establish and can really come in handy. Let me explain.
One day, I left my home and drove to my office like any other day. Around lunch time, I headed out to grab a bite and get some gas… here is where the fun begins. As I got to the restaurant (and thankfully before I ordered my food), I realized I did not have my wallet. Now I began to panic. I had not ordered thankfully, so I figured I would just go back to the office where I kept some random food stuffs (popcorn, soup, etc) in my desk. I then realized I was very close to being out of gas and I was about 30 miles from my home – this spelled trouble. I checked the change compartment and I believe I scraped up about $2 for gas and that was pretty embarrassing in itself. In my head, I saw the lady looking at me thinking “why is this guy driving a Lexus if he’s got to pay for gas like this.”
So now you have the picture of what having an extra $5 in my car would have done for me. I shared this with my wife and we now keep a few dollars in the car for these little emergencies. It also came in handy when I was recently at a drive through and their credit card machine was down.