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  1. says

    I think maintaining proper budget is also a way to save some money and add it to your emergency fund. It is not necessary that you invest somewhere and create an emergency fund. You can always save money from your monthly budget to meet unexpected financial crisis.

  2. says

    I have read that it also makes sense to keep some of your emergency dollars in cash at home. I agree which is why I keep a small percentage of my emergency fund at home.

  3. says

    I think you make a good point, Money Obedience! You should have some cash kept in a safe place in your home, just in case power is down or you can’t get to your bank or ATM to pull the money out. However, it is important to use some caution, since you don’t want that money to be stolen or ruined in some disaster.

  4. Recessionista says

    I think its a good idea to have some cash on hand for emergencies as well, however my husband hates the idea and therefore we never keep any money at home. I think if you can keep it in a fire resistent safe it should be fine – of course it would be a small amount.

  5. says

    I don’t think it can be ignored that most people should still keep some of their emergency fund in cash. At the end of the day, cash will always be reliable and ready to use.

  6. says

    Good article, having an emergency fund is vital. In fact I look at it as insuring one’s sustainability if an unexpected event like a job loss occurs.

  7. says

    I would keep a little at home in a fireproof box, but most can be kept at your bank where you can get to it at an ATM if needed.

  8. says

    I keep money in a rewards checking account earning 4% interest, FDIC insured. I can write a check or get the money with an electronic transfer. For real emergencies I have a little cash that is not in a bank account.

    Rewards checking is where you make a minimum of 10 purchases a month with a bank card and in return you get higher interest because the bank earns money off the merchant fees. I have been doing it for years and have compiled a list of the highest interest accounts ( http://www.rickety.us/rewards-checking/bank-rewards-checking/ ). There are a few nationally available accounts.

  9. says

    An emergency fund is an easily accessible stash of money you can tap if you lose your job, get sick, or run into immediate, unexpected expenses — like a blown gasket — so you don’t blow a gasket. Maintaining a cash cushion will help you ride out rough times without piling up debt and will protect your long-term financial health.


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  2. [...] — especially since you will have to start making payments immediately. With a properly set up emergency fund, you can begin rebuilding after the emergency has passed. You don’t have to worry as much [...]

  3. [...] know for certain you’ll be able to pay in full at the end of the billing cycle. Set aside an emergency fund, accumulate some savings and be sure to put money into a retirement account. If being able to do [...]

  4. [...] to evaluate your situation. Are you experiencing a temporary shortfall? Maybe you had an unexpected emergency expense that drained your finances, and you will be back on track quickly. On the other hand, you might be [...]

  5. [...] Fund Many personal finance experts recommend at least three months living expenses be saved in an emergency fund for “what ifs” in life, like an unpredictable job loss, home repair or medical expense. [...]

  6. [...] all that is settled, you should look at building an emergency fund just in case anything bad happens and you need money immediately. The aim is to get enough money to [...]

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