The Power of an Emergency Fund: My Journey as a Single Woman Living Abroad
- Karmen Moxie
- Apr 7
- 2 min read
Living abroad as a single woman comes with its own set of challenges, especially when it comes to managing finances. One rule I have always followed is never touching my emergency fund. This principle has saved me more than once, and I want to share why having a solid financial backup is essential, especially when you face unexpected situations far from home.
Why I Chose to Work Instead of Using My Savings
Currently, I am waiting for my Lithuanian resident visa. Instead of relying on my savings during this waiting period, I chose to work. The decision wasn’t just about earning money but about preserving my emergency fund for true emergencies. This approach gives me peace of mind and flexibility, knowing I have a safety net if things go wrong.
Lessons from Living in Russia During a Financial Crisis
I once lived in Russia when the country was banned from SWIFT platforms. This meant I couldn’t use my Visa or Mastercard, and my money was stuck. Without access to my usual funds, I had to rely entirely on my emergency fund. That experience taught me the real value of having money set aside that you never touch unless absolutely necessary.
How My Emergency Fund Helped During COVID-19
The COVID-19 pandemic was another test of financial resilience. When non-essential workers were not working, I used my emergency fund to cover living expenses. This fund allowed me to stay afloat without stress or desperation. It was a reminder that emergencies don’t wait for convenient times, and being prepared is crucial.
Working in Lithuania While Waiting for My Visa
Now, in Lithuania, waiting for my visa, I found a simple job dishwashing. It’s easy work, but it keeps me financially independent and protects my emergency fund. This choice reflects a mindset of responsibility and foresight, which I encourage everyone living abroad to adopt.
Tips for Building and Protecting Your Emergency Fund
Set a clear goal: Aim for at least three to six months of living expenses saved.
Keep it separate: Store your emergency fund in an account that’s easy to access but not tempting to dip into.
Use it only for emergencies: Define what counts as an emergency and stick to that rule.
Review regularly: Adjust your fund as your living costs change or your situation evolves.
Plan for the unexpected: Think about scenarios like job loss, health issues, or travel restrictions.
Final Thoughts on Financial Security Abroad
Living abroad means facing uncertainties, from visa delays to economic shifts. An emergency fund is not just money; it’s freedom and security. By choosing to work instead of spending savings, I keep my safety net intact. This approach has helped me navigate tough times in Russia, survive the pandemic, and now live comfortably in Lithuania while waiting for my visa.
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