Credit Cards Good For Emergency Fund YAY or NAY?

Do you think its good to use credit cards for an emergency fund?
I my self say no. Save money up for emergency. Here my story.

Reason I say no is I’m in 12k credit card debt. Why because I
had nothing saved up. I had all most all our kids living with us.
Yes they did help out but every thing went into the house for bills
food ect.

Well last year I wasn’t expecting my husband to have a heart attack.
Yes I was working and did get a small amount from SSI. But once
my husband had his heart attack and was in the hospital for over
a month and rehab for over a month. He was away for 3 moths.
I didn’t work those 3 months and didn’t get full SSI check. So the
only way I could keep things going was pay with a credit card.
Which now I’m in debt and trying to get out of it.

Once I get my tax return I plan on putting some in the bank and not
touching it. Paying some credit cards off. Than each month after
that I will take the money from the credit cards I paid off to use to pay
off another credit card off faster till i’m out of debit. I will all so add to
to the money I put up it wont be much but at least I will be building my
funds up so I don’t have to use a credit card.

I all so plan to pay my domain and web hosting for a year or two.
Than start blogging and adding things to the site to make me extra

I hope my story helps some one else or makes other think twice about
using there credit cards for a emergency fund.

Thank you Bonnie Squires

Credit cards can really be a tricky business, it is dangerous to become dependent on them.

I would definitely caution anyone against using credit cards as a go to for an emergency.

The problem is, the money is “credit” so it is not your money so in the case of emergency, if you have to use them, you are putting yourself into even greater a financial bind than before.

Credit cards have their place, they can be great for making purchases that earn rewards or for making a larger purchase but they should always be used and paid off right away.

I failed at this and now I am suffering the consequences. But I have learned my lesson, now my credit card debt is so close to being paid off and I will not commit this error again.

Credit cards really should have no place in a solid financial fitness plan.

Nothing is wrong with having them, if you know how to use them properly.

But if you don’t you are probably better chopping them up!


I so agree with you. I’ve learned my lesson
on this one. Hard way to lean it but I did
and I can’t wait to get them paid off.
Than stay debit free for good.

I’ve all ways used cash for every thing up
until my husband got sick and nothing in
saving or any thing. But i’m glad I’m working
to get out of it my take awhile to get out of
this debt but i’m going to do it.

I’ve change so many things in my life from
learning from this group and I’m so glad for
that. I don’t spend money or swiping my card
(bank) cc before thing about do i need this or
not. I give my self time to cool off and see if
its really some i need most of the time its a
want not more of a need and i’m learning i
don’t want it or need it.


I think it’s helpful to have a credit card available in case of emergency, to make the situation of paying an unexpected bill quickly a little easier. But in order for that move to work you have to have money available in checking or savings to pay the bill ASAP!


@user_510364694983004611 that is true if you have the money
to pay it back,but at the time I didn’t.


I will be the dissenting voice, I think credit cards with no interest financing are a great way to purchase large, neccessary items instead of draining your savings. You just need to pay attention to what you need to pay each month to avoid finance charges at the end, or move the balance over to another no interest card if you haven’t paid it off. But you have to know your limitations, buy only what you need, not want. Doing this was the easiest way I found to pay off my credit card debt.


@makingithappen2019 that is exactly what i’m doing now.
thank you for your advice


Hi Bonnie, I think in your specific situation, you did what was best for your family at the time. Don’t be hard on yourself for this, you needed to be with your husband at the hospital. The connection to people is much more important. And as you have stated, you have learned from this experience & have a plan going forward. Awesome Job!


@nicole thank you and yes i had to do what i needed.
But i did learn my lesson and i’ve all ready paid 2 credit
cards off around $1,500 so far and put $1,000 up than
i paid off a bill where i use to live. I was paying $10 a week
I paid off $112 on that. So i’ve got some thing paid off.
The $10 a week will go i with the $1,000 i;ve put up and
the 2 credit cards i paid off will pay other ones off. I’ll keep
going till they are all paid off and I’m dept free. Than I’ll
pay off my house after that.

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