Comments on: Emergencies are Assured So build your Own Emergency Money Fund

By: 2010 IRS Federal Tax Withholding Calculator is Out. Stop Loaning the Government Money

Tue, 05 Jan 2010 09:02:09 +0000

[...] recommend directing those extra payments at your debt snowball. From there you could round out your emergency fund or kick up your retirement savings. Anything but letting that money fall back into the mosh pit [...]

By: Should you Treat your Emergency Fund as an Investment?

Should you Treat your Emergency Fund as an Investment? — Mon, 19 Oct 2009 17:07:21 +0000

[...] he concluded that my buddy is on the right track and the one thing he should do is move his $30,000 emergency fund. Where should he move it? Why to a High Yield Bond Mutual Fund of course! . Let’s look at the [...]

By: Variable Expense Budgets or Sinking Funds taking Budgeting to the Next Level

Variable Expense Budgets or Sinking Funds taking Budgeting to the Next Level — Mon, 21 Sep 2009 14:32:56 +0000

[...] debt snowball so we were able to cash flow the maintenance. We didn’t even have to tap the emergency fund to tackle this unplanned expense. Had this been a year or two ago a situation like this would [...]

By: paul

paul — Mon, 21 Sep 2009 04:46:37 +0000

LOL, umm no my Uncle is not in jail, although I did own an AMC Gremlin when I was 16. So there’s your gremlin.

By: Matt Jabs

Matt Jabs — Sat, 19 Sep 2009 06:31:42 +0000

Is your uncle the water pump gremlin… and that’s why he’s incarcerated?

Per the EF… I’m a FIRM believer. Like you said, it gives me a warm fuzzy. More importantly, it makes my wife feel more secure – and if momma happy me happy!
Matt Jabs´s last blog ..Should I Invest While Still In Debt?

By: Peter

Peter — Sat, 19 Sep 2009 05:38:55 +0000

At our house we have a fully funded 8-9 month emergency fund right now just because things seem so uncertain. It gives my wife a bit more peace of mind (me as well), and it’s so freeing knowing that we could get by for many months before we were in too much trouble.

We keep our emergency fund and other funds separate – so we don’t buy a tv or a new car using our emergency fund – it’s untouchable. We keep it pretty liquid in an online account at ING.
Peter´s last blog ..First Time Homebuyer Tax Credit May Be Extended To All Homebuyers And Increased to $15,000 Through New Bill

By: Kevin Cafferty

Kevin Cafferty — Fri, 18 Sep 2009 19:55:34 +0000

I think saving more than six months is a good idea, but I also think if you’re going to save more than that you should keep the six month emergency fund liquid and put the savings beyond that into certificates of deposit (possibly with a six-month term that rolls over) so you can access it easily once the initial emergency fund runs out.
Kevin Cafferty´s last blog ..What’s the best place to stash your savings?

By: MLR

MLR — Fri, 18 Sep 2009 03:41:33 +0000

So many people nowadays are having a hard time finding a job in 3 or even 6 months. I don’t feel I have ANY risk of losing my job… but I still socked away about 9-10 months JUST IN CASE.

In my mind, what is that extra few thousand? Security. I’ll gladly put a little more aside to feel secure in the fact that if I lose my job I have some time to get myself collected and pursue a job I want, not just one to pay the bills.
MLR´s last blog ..The 5 Seemingly Obvious Rules That Most People Don’t Follow

By: paul

paul — Thu, 17 Sep 2009 15:26:15 +0000

I agree on the personal nature of the fund and if it takes 3 years of income to be comfortable so be it. The key is actually having one.

By: ctreit

ctreit — Thu, 17 Sep 2009 11:03:42 +0000

If my emergency fund starts shrinking, I get very nervous. Sometimes we do tap into it to finance some purchases, but our emergency fund is more than 6 months. – One of my general problems with emergency funds is the wide range that is offered by financial experts. $1000 or 3-6 months? I think in the end our individual circumstances matter the most, including what makes you comfortable. If you need 12 months expenses covered to sleep well at night, I don’t think it is wrong to put even that much money into an emergency fund.
ctreit´s last blog ..Owing more on a house than its value is not necessarily a problem