Comments on: Emergency Fund in Personal Finance-Step 5 in Financial Planning

By: Importance of Cash

Importance of Cash — Tue, 10 Nov 2009 11:02:17 +0000

[...] importance of cash is aligned with the significance of having an emergency fund. As previously emphasized it is imperative, especially in today’s economy, to have an emergency [...]

By: Risk Tolerance-Determine Your Investor Profile | Financial Highway

Risk Tolerance-Determine Your Investor Profile | Financial Highway — Tue, 21 Jul 2009 14:00:30 +0000

[...] The most common priorities are to have a savings plan and near-cash investments for emergency fund. When funds are available for investing, growth is usually the primary [...]

By: Understanding the Many Kinds of Savings Accounts | Financial Highway

Understanding the Many Kinds of Savings Accounts | Financial Highway — Mon, 08 Jun 2009 09:18:27 +0000

[...] being. Whether you are planning for retirement or simply saving money for the likelihood of a rainy day, you have several options available to you. However, you should not choose any option until you [...]

By: New Edge Credit

New Edge Credit — Wed, 06 May 2009 23:03:59 +0000

funds are needed in emergency…………so these funds are really helpful..

By: Financial Planning Basics-The Financial Pyramid | Financial Highway

Financial Planning Basics-The Financial Pyramid | Financial Highway — Sun, 03 May 2009 15:52:46 +0000

[...] Establishing an Emergency Fund (3-6 months of salary) [...]

By: Ray

Ray — Mon, 27 Apr 2009 16:39:01 +0000

Good point Harrison, that approach makes just as much sense, and I guess it depends on your comfort level.

By: Harrison

Harrison — Mon, 27 Apr 2009 13:07:19 +0000

I also agree that we must be debt free first. But I think it is too risky without any emergency fund left behind. For me, I will save up at least 2 months of emergency fund. After that I will concentrate my energy to pay debt off. Of course, at the same time I will limit my expenses so that I won’t get more debt.

By: Ray

Ray — Wed, 22 Apr 2009 04:29:53 +0000

I think it mostly depends on your personal situation but ideally, I would say between 15-20% is a good number to aim for. But i think first comes paying off your debt and try to be debt free.

By: Colourful Money

Colourful Money — Tue, 21 Apr 2009 05:15:36 +0000

What percentage of one’s paycheck would you recommend to put away for savings?