Welcome to our Friday Financials Series. In this series, we plan to talk about all things RV Financials including the real-life numbers we spend while traveling and living in our Airstream. If you have ANY money questions for us please let us know for future videos!

This week’s topic is The Importance of an Emergency Fund when Full-time RVing and really for anyone anywhere. An emergency fund is not the most fun thing to put money into when you want to save for other things, but it is absolutely critical when the worse happens. If something happens to a family member, a break down occurs on your RV, you have a medical emergency or you lose your job the emergency fund ensures you can focus on what’s important in those moments and not worry immediately about whether you have the funds to cover it.

Since we are early retirees with no solid income we have 3 years of living expenses in our emergency fund to ride out a recession or major emergency. For those with more normal situations we recommend 3-6 months but at absolute minimum 1 month of living expenses. If we need to touch our emergency fund we then bring it back up to the amount we want either by diverting money from other savings or not spending much fun money and diverting that until we are back up to the right level. Having our emergency fund ready for whatever comes at us makes us feel safe and secure in our future.

Do you have an emergency fund? How much do you think should be in it? Have you ever had to use yours?