Emergency funds, emergency funds
So once we’re not in debt, what is the best amount to have in an emergency fund?
This is the question I keep asking myself. Now that I’ve convinced myself there will be a time we aren’t actually in debt, I ponder letting money actually… sit… just in case. 3 months? 6 months? 6 months seems like a lot of money to sit around.
And won’t the colleges my kids go to just demand I pay it to them anyway if it is sitting around?
I don’t know. Someday I’ll start researching answers to that. For now I look forward to when I have a “fully funded” emergency fund, whatever that number is we choose to make it.
~J
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June 24th, 2007 at 6:08 pm
have you checked out Dave RAmsey yet?
daveramsey.com
June 24th, 2007 at 6:14 pm
I have indeed. Although being only slightly past baby step #1, I haven’t really looked at the part of “What happens once you are debt-free” lol. The spouse and I had a discussion about what we think an emergency fund would be and it has left many thoughts still percolating in my head.
Thanks for stopping by! ~J