Comments on: Emergency Funds: How Much Do You Really Need?

By: The Financial Engineer

The Financial Engineer — Fri, 12 Feb 2021 02:07:53 +0000

Building the emergency fund was one of the first things we did. It is hard to do that and save enough for a home down payment, among other things when you’re young.

Looking back now, it’s not nearly as important to have a large EF before having dependents.

By: Robert Farrington

Robert Farrington — Mon, 11 Jun 2012 02:11:20 +0000

In reply to Poor Student. Wow, running it lean. Investments do count, but what if you needed to pay for a big repair, and it's a Saturday. Best case is you sell your investments on Monday, and it settles by Wednesday. That means you won't get your car back for almost a week. Credit works, but be careful with it!

By: Poor Student

Poor Student — Sun, 10 Jun 2012 22:45:03 +0000

I do not need an emergency fund right now, but when I think about what six months of wages could earn if invested I know that I am going to just have an open line of credit in case I need money fast (job loss, illness, big repair).

At the very least the line of credit will tide me over until I could cash out any additional investments I need to pay for the emergency.

By: Robert Farrington

Robert Farrington — Thu, 31 May 2012 02:24:04 +0000

In reply to Barbara Friedberg. You never know when an emergency can happen, so it's nice to have a little something ready just in case. I feel more comfortable knowing that I have a rainy day fund.

By: Vincent Turner (@vinaeco)

Vincent Turner (@vinaeco) — Wed, 30 May 2012 23:42:39 +0000

In reply to Robert Farrington. Wow! .. I did not know that, such a change from only a few years back