I am a big proponent of having an emergency fund. In fact, one of my medium term goals is to have a $10,000 emergency fund (about 4.5 months of living expenses). So you may be surprised to hear that I recently took $4,000 out of my emergency fund (balance was at $6,200 at the time) [...]
Category Archives: Emergency Fund
Where To Put My Excess Money? Roth? 401(K)? Emergency Fund?
It’s taken almost a year, but now every stray dollar that is associated to my name is now in my possession. This thanksgiving I picked up a few bonds and stock certificates that I ‘owned’ but didn’t have in my possession. Now, the question is where to allocate this ‘found’ money?
401(k), Roth IRA, Emergency Fund, [...]
Emergency Funds: I’ve Changed My Strategy
A handful of people will remember my post on why I, and people in similar situations as myself, didn’t need an emergency fund. I am not going to disagree with myself, however, I have had a change in my situation since I wrote that a bunch of months back; I bought a new car.
There is [...]
You Don't Need an Emergency Fund
I definitely don’t expect everyone to agree with me about the necessity of an emergency fund, but please remember I am only advocating this strategy as an alternative to younger adults who could be boosting their savings in the years when an emergency is least likely to happen. I personally don’t have an emergency fund set up.