Comments on: Why do you need an Emergency Fund?

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Sun, 01 Nov 2009 04:04:13 +0000

[...] Why do you need an Emergency fund? [...]

By: kim @ Digital Trail Camera

kim @ Digital Trail Camera — Sat, 31 Oct 2009 17:04:33 +0000

I agree, save up at least 6 months worth of cash. But I’d like to have some gold too, for when the economy collapses.

By: Erick

Erick — Fri, 30 Oct 2009 20:12:39 +0000

Great tips! I like the Pay Yourself First, initially it’s difficult. If 20% is not attainable at the beginning better start (I suggest) at least 10%.

By: Kristine

Kristine — Fri, 30 Oct 2009 14:58:43 +0000

Ahh, guilty as charged. When I got my first job..err, paid internship (it wasn’t in the Philippines), I never even got the chance to save. Well yeah, I saved some only to spend it in a vacation by the Baltic Sea. Now I’m back home and working, I regret a bit that I didn’t get to save back there. Now, I feel like I’m just fresh off from college.

Now I’m separating my ‘spending account’ and my ‘savings account’ from each other. I also don’t withdraw money out of PayPal, except when I need to pay my phone bills or the electric bills. Sigh. Money frustrations.

By: Tyrone

Tyrone — Fri, 30 Oct 2009 07:05:43 +0000

Yes, definitely building an emergency fund is easier for singles that’s why it’s always advisable to save early – during your singlehood.

Having dependents such as your family would entail a much larger amount of emergency fund that needs to be build.

By: nel@momwithwork

nel@momwithwork — Fri, 30 Oct 2009 06:55:14 +0000

i like this topic. i believe in buiding emergency fund first before going into real investments.

very important indeed for those raising families.well, it’s easy for singles to raise for emergency fund but for parents with children, you’ve got to save a larger amount for your emergency fund.

By: Gabe | freebloghelp.com

Gabe | freebloghelp.com — Thu, 29 Oct 2009 16:31:24 +0000

Emergency funds are being used by over 10% of the US populations today due to unemployment. It’s crazy how many people can’t survive a few months without a job.

The primary reason is that they never had a good defense. They always think that a good offense (massive income) can solve their problems but that’s not true in most cases. Good spending and saving habits can help anyone in almost any situation.

By: Devon Business Directory

Devon Business Directory — Thu, 29 Oct 2009 14:44:18 +0000

Great reminder, especially in today’s economy. Also there’s the consideration of having money to be able to take advantage of unexpected opportunities

By: Tyrone

Tyrone — Thu, 29 Oct 2009 04:18:36 +0000

Although gold is a liquid commodity, I think it would still be better if the emergency fund is in the form of cash.

The saying that “cash is king” speaks louder in times of emergencies.

By: Dana @ Online Knowledge

Dana @ Online Knowledge — Thu, 29 Oct 2009 03:56:33 +0000

I think gold also can use as emergency fund. How do you think?

By: Extreme John

Extreme John — Thu, 29 Oct 2009 02:28:21 +0000

Without doubt excellent tips for putting together an emergency fund, not something many people think of.