Comments on: Don’t You Wish You Have an Emergency Fund Right Now? http://moneyning.com/life-style/dont-you-wish-you-have-an-emergency-fund-right-now/ A personal finance blog where we share insights on carefully saving money, investing, early retirement, mortgages, stocks because the little things matter in achieving financial freedom! Sat, 21 Nov 2009 08:01:45 -0800 http://wordpress.org/?v=2.8.6 hourly 1 By: -=[OMF]=- http://moneyning.com/life-style/dont-you-wish-you-have-an-emergency-fund-right-now/comment-page-1/#comment-4206 -=[OMF]=- Wed, 23 Jan 2008 13:55:58 +0000 http://moneyning.com/life-style/dont-you-wish-you-have-an-emergency-fund-right-now/#comment-4206 I LOVE my emergency fund. It helps me sleep well at night. Even though I haven't fully funded it, I did have to tap it last week for a new washing machine and, while I felt a twinge of pain, it made me feel good when I thought back 3 years ago to how I would have racked up $400 in credit card debt and hoped to pay it down in 6-9 months time. I have to say though that when the market was going gang-busters it was a nice feeling to know stocks were too expensive and I'd be better off socking away money in the emergency account. Now that it's in the doldrums, and they're having a big after Christmas sale on stocks, it makes me wish I had some extra cash to put into the market. Oh well... I'll have to wait for the next sale. :) -=[OMF]=- I LOVE my emergency fund. It helps me sleep well at night.

Even though I haven’t fully funded it, I did have to tap it last week for a new washing machine and, while I felt a twinge of pain, it made me feel good when I thought back 3 years ago to how I would have racked up $400 in credit card debt and hoped to pay it down in 6-9 months time.

I have to say though that when the market was going gang-busters it was a nice feeling to know stocks were too expensive and I’d be better off socking away money in the emergency account. Now that it’s in the doldrums, and they’re having a big after Christmas sale on stocks, it makes me wish I had some extra cash to put into the market. Oh well… I’ll have to wait for the next sale. :)

-=[OMF]=-

]]> By: Cameron F. http://moneyning.com/life-style/dont-you-wish-you-have-an-emergency-fund-right-now/comment-page-1/#comment-4190 Cameron F. Mon, 21 Jan 2008 18:03:02 +0000 http://moneyning.com/life-style/dont-you-wish-you-have-an-emergency-fund-right-now/#comment-4190 I thought I had an emergency fund and then I heard about wamylove's emergency fund. Now wamylove should sing the title of this article to a certain tune: "Don't you wish your e-fund was hot like mine." I thought I had an emergency fund and then I heard about wamylove’s emergency fund. Now wamylove should sing the title of this article to a certain tune: “Don’t you wish your e-fund was hot like mine.”

]]> By: Micahel http://moneyning.com/life-style/dont-you-wish-you-have-an-emergency-fund-right-now/comment-page-1/#comment-4146 Micahel Fri, 18 Jan 2008 15:26:18 +0000 http://moneyning.com/life-style/dont-you-wish-you-have-an-emergency-fund-right-now/#comment-4146 You are absolutely right. Everyone has to have an emergency fund. Really, it is very helpful. Actually, i was unaware that this emergency fund also include help when we are fired from our job. thanks for this information. You are absolutely right. Everyone has to have an emergency fund. Really, it is very helpful. Actually, i was unaware that this emergency fund also include help when we are fired from our job. thanks for this information.

]]> By: MoneyNing http://moneyning.com/life-style/dont-you-wish-you-have-an-emergency-fund-right-now/comment-page-1/#comment-4143 MoneyNing Fri, 18 Jan 2008 05:39:00 +0000 http://moneyning.com/life-style/dont-you-wish-you-have-an-emergency-fund-right-now/#comment-4143 wamylove: I sense that you've looked past your set back which is great! 158,000 is no easy feat and I hope that you can past 200,000 handily :) wamylove: I sense that you’ve looked past your set back which is great! 158,000 is no easy feat and I hope that you can past 200,000 handily :)

]]> By: wamylove http://moneyning.com/life-style/dont-you-wish-you-have-an-emergency-fund-right-now/comment-page-1/#comment-4138 wamylove Fri, 18 Jan 2008 03:55:05 +0000 http://moneyning.com/life-style/dont-you-wish-you-have-an-emergency-fund-right-now/#comment-4138 Too late now that I have a record of having problems. However, my premiums are only $179/month and I'm 52. BCBS have been great and their reductions have saved me over $20,000 in medical fees this year. Having everything go wrong at once allows me some reduction in my taxes, at least. I didn't even have a Dr before last year. Most of the money is not in a checking account.... I have over 158,000 on the car now and the mechanic thinks it'll make it.. Too late now that I have a record of having problems. However, my premiums are only $179/month and I’m 52. BCBS have been great and their reductions have saved me over $20,000 in medical fees this year. Having everything go wrong at once allows me some reduction in my taxes, at least. I didn’t even have a Dr before last year.
Most of the money is not in a checking account….
I have over 158,000 on the car now and the mechanic thinks it’ll make it..

]]> By: MoneyNing http://moneyning.com/life-style/dont-you-wish-you-have-an-emergency-fund-right-now/comment-page-1/#comment-4136 MoneyNing Fri, 18 Jan 2008 00:12:45 +0000 http://moneyning.com/life-style/dont-you-wish-you-have-an-emergency-fund-right-now/#comment-4136 Ann: You really should try to set aside anything you possibility can for the rainy days since you never know what would happen. Just remember that every dollar counts! Maybe there are things you are using/doing that you can cut down a little bit on to save some money? A few dollars here and there goes a long ways since they add up. Marc Woolf: Thank you. I hope that you have an emergency fund already setup or will start one because of this article!! wamylove: Wow that's a pretty big emergency fund!! I hope that you have it put into a high yield savings account because that's a lot of interest money missing if all of it is in a checking account. I'm glad that you were able to cover your medical care expense last year. Maybe you should look into getting a better health insurance this year if you haven't done so! Btw, 200,000 miles is no easy feat for any car so good luck with that :) Ann: You really should try to set aside anything you possibility can for the rainy days since you never know what would happen. Just remember that every dollar counts!

Maybe there are things you are using/doing that you can cut down a little bit on to save some money? A few dollars here and there goes a long ways since they add up.

Marc Woolf: Thank you. I hope that you have an emergency fund already setup or will start one because of this article!!

wamylove: Wow that’s a pretty big emergency fund!! I hope that you have it put into a high yield savings account because that’s a lot of interest money missing if all of it is in a checking account.

I’m glad that you were able to cover your medical care expense last year. Maybe you should look into getting a better health insurance this year if you haven’t done so!

Btw, 200,000 miles is no easy feat for any car so good luck with that :)

]]> By: MoneyNing http://moneyning.com/life-style/dont-you-wish-you-have-an-emergency-fund-right-now/comment-page-1/#comment-4135 MoneyNing Fri, 18 Jan 2008 00:12:11 +0000 http://moneyning.com/life-style/dont-you-wish-you-have-an-emergency-fund-right-now/#comment-4135 Ronald: I hope you are right. It's a tough market to make money if you are long right now but hopefully things will turn around soon. plonkee: It's great that you already have this in place because so many people don't! Brian: Actually, I've been to the mall this month and it was pretty empty. In previous years, I have seen much more people inside so maybe it's a different situation depending on where you are located. Debt Free Revolution: It's always great to hear people having free cash flow to cover emergencies. Hopefully you won't have to use your emergency fund in 2008 at all! Ronald: I hope you are right. It’s a tough market to make money if you are long right now but hopefully things will turn around soon.

plonkee: It’s great that you already have this in place because so many people don’t!

Brian: Actually, I’ve been to the mall this month and it was pretty empty. In previous years, I have seen much more people inside so maybe it’s a different situation depending on where you are located.

Debt Free Revolution: It’s always great to hear people having free cash flow to cover emergencies. Hopefully you won’t have to use your emergency fund in 2008 at all!

]]> By: wamylove http://moneyning.com/life-style/dont-you-wish-you-have-an-emergency-fund-right-now/comment-page-1/#comment-4134 wamylove Thu, 17 Jan 2008 23:30:03 +0000 http://moneyning.com/life-style/dont-you-wish-you-have-an-emergency-fund-right-now/#comment-4134 I meant "fund." I meant “fund.”

]]> By: wamylove http://moneyning.com/life-style/dont-you-wish-you-have-an-emergency-fund-right-now/comment-page-1/#comment-4133 wamylove Thu, 17 Jan 2008 23:29:25 +0000 http://moneyning.com/life-style/dont-you-wish-you-have-an-emergency-fund-right-now/#comment-4133 I have had about $100,000 in my emergency fund since I am self -employed. I used about $9,000 last year for medical care, since I have catastrophic health insurance. The next big payout will be paying cash for a new car, although I hope I won't need to for a few years and will be able to get to 200,000 miles on my Sentra. I've been able to stay self -employed for 18 years because of the find. I have had about $100,000 in my emergency fund since I am self -employed. I used about $9,000 last year for medical care, since I have catastrophic health insurance. The next big payout will be paying cash for a new car, although I hope I won’t need to for a few years and will be able to get to 200,000 miles on my Sentra.
I’ve been able to stay self -employed for 18 years because of the find.

]]> By: Marc Woolf http://moneyning.com/life-style/dont-you-wish-you-have-an-emergency-fund-right-now/comment-page-1/#comment-4132 Marc Woolf Thu, 17 Jan 2008 21:35:38 +0000 http://moneyning.com/life-style/dont-you-wish-you-have-an-emergency-fund-right-now/#comment-4132 Great post on emergency fund - the reason is freedom! Great post on emergency fund – the reason is freedom!

]]>