To be honest, I haven’t heard of and was never familiar with Murphy’s Law until I seriously did a Total Money Makeover and underwent an online Budget Blueprint Course.
Murphy’s Law is simply an adage or an old saying that “if anything wrong can happen, it will”.
Let’s put it this way- we all go through a storm in our lives; when things go bad, we call it “malas” in Filipino. It’s true, crap can happen; and it does when we least expect it!
How do we cushion ourselves from the unexpected? Pano tayo makakaiwas sa pangungutang? Let’s face it, it always has adverse effects on our finances which throws us off course.
Some people believes that owning a credit card and swiping it away is convenient for funding these “unexpected and emergency” expenses.
I used to think that way too, without realizing that I am actually digging my own hole.
We have seen so many Murphy’s come and go in our lives for the past couple of years. We were into two car accidents when we had our car totalled. Sure, it was covered by insurance but we still had to pay extra from out of the pocket. It has made a mess in our regular budgeting process.
Emergency Fund is Murphy repellent; it resolves the issue of having to incur unnecessary debts because we have prepared ourselves for Mr. Murphy before it even occured.
I have now learned a hard lesson from the mistakes of the past. In every monthly budget I create, I make sure that a category is funded purposely for the unknown called Rainy Days Fund a.k.a. Emergency Fund.
Hence, swiping my credit card is no longer necessary.