What Is An Emergency Fund?
Posted by ChrisLeeVella from gettosaving.com
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Being prepared for the worst case scenario. How to set up a solid emergency fund!
Added in Man's Money, Being a Man!
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mango333 11 years ago
I would add, start small. We aren't up to the 3 - 6 months of expenses range yet. But we have $1000 which will cover most minor emergencies. Not a lot but something.
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ChrisLeeVella 11 years ago
Yea any would do for starters! :) A $1000 would cover most minor emergencies. But it's important to build on that depending on your expenses :)
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blkendrick 11 years ago
Most people are quick to discount and ignore the call for an emergency fund, flatly stating that they can't "afford" to create one. This is categorically false and can only be believed by someone who is utterly ignorant of their own finances. If you have money for a six dollar cup of coffee, you have enough discretionary money to put ten dollars a week in an emergency savings account. Hope for the best, plan for the worst; ever vigilant, always ready. These are the words that real men live by. Don't be a victim of your own lack of planning and foresight. Great post. Glad you shared.
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ChrisLeeVella 11 years ago
Very well said. People have money for the luxuries that mean nothing but can't put some finances aside for the "what ifs" that can, and will happen!
Thanks for your thoughts Blkendrick, and glad you liked the post! :)
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