It’s good to have saved money but it may not be enough. I went to Iraq in 2005 and had saved up a lot of money, 1000’s of dollars.
The 2008 financial crisis hit and I was laid off a week before Christmas. I went through all my savings, i went through all my unemployment insurance, my truck was repossessed, debt collectors were knocking my door down.
I lost everything.
I was living with my brother and his wife and they kicked me out. I was homeless for two years.
An emergency fund doesn’t help unless you have a support network. I didn’t have support either, my father was suffering from Alzheimer’s and my brothers practically disowned me, my friends, the few that I had abandoned me. I was SOL for two long years.
I wasn’t married at the time so I had no wife which I think was a good thing. I wouldn’t want to drag her through something like this or want to face the possibility of her leaving me.
So you really need tens of thousands of dollars and a support network to survive. The post I wrote is only for a short-term fix.
I thought about writing a book about my situation. Maybe one day.
Me facing combat situation daily in Iraq really helped me to cope living on the streets.