I do not have an emergency fund. Whenever I save up a chunk of money, I seem to either have a household emergency (collapsing wall in basement, dog needs operation, roof is leaking) or use it to do some work on my ongoing home renovation. I am perfectly happy doing this and don't in any way feel stressed or anxious about not having six months living expenses in the bank. I am not late on bills and my monthly expenses are pretty minimial -- I can always scrounge up the money for my mortgage, food, pets. This is what works for me.
I'm curious about those people who do have six months (or more, or less) of living expenses socked away somewhere. If this is you -- have you ever needed to tap into it for living expenses? Have you ever used it for an emergency? Have you ever used it to buy something fun and utterly non-essential? If so, how did that make you feel?
My theory is that people who have an emergency fund probably don't use it (kind of like car insurance), and those who don't have one are the ones (like me) who might actually dip into it if it were there. What do you think?