"Life's emergencies" are what credit cards are for.
I have a rule: I buy music gear ONLY from funds earned on gigs. If I don't have the cash in the bank I don't buy it, period. Car repairs, rent, groceries and stuff are funded by my day job.
It's not too bad, really, if I can get two gigs a week and average $75 take home per gig (which is not hard to do at all) that's $600 a month. Hey, a new Sadowsky every six months
Seriously, when I was in my 20s I didn't have a lot of cash either so my gear purchases were VERY carefully thought out. However, as long as you have steady gigs (maybe you don't) cash will continue to flow in. I had a gig every Sunday night for 7 years, it paid only $30...but over the 7 years I earned about $10,000 from that gig.