http://www.paidtwice.com/2008/12/17/what-does-a-fully-funded-emergency-fund-mean-to-you/#comment-67932 Jennifer Thu, 18 Dec 2008 18:52:12 +0000 http://www.paidtwice.com/2008/12/17/what-does-a-fully-funded-emergency-fund-mean-to-you/#comment-67932 When we started the DR plan, we had no money in savings and it was huge for us to pull together $1000 for something unspecified like just sitting there in savings. After a year or two though, we were no longer in debt, but still struggling to make ends meet each month. our emergencies tended to be pricey and with 4 kids and older cars, they tended to happen more often than other people's emergencies. So we decided to do everything we could to increase it to $2000. And that is where it sat for many years. finally about 2 years ago we started working on our fully funded emergency fund. We still aren't there, however we do have $5000 just sitting there in a savings account marked emergency. We have about $7000 in other savings accts for periodic expenses. I feel pretty comfortable, especially since dh has a very stable job. I still think that $10,000 would be ideal for us, however with needing to save cash to pay for a new roof and a new van in the next couple of years, I don't see us increasing the amount in our EF by anything. When we started the DR plan, we had no money in savings and it was huge for us to pull together $1000 for something unspecified like just sitting there in savings. After a year or two though, we were no longer in debt, but still struggling to make ends meet each month. our emergencies tended to be pricey and with 4 kids and older cars, they tended to happen more often than other people’s emergencies. So we decided to do everything we could to increase it to $2000. And that is where it sat for many years. finally about 2 years ago we started working on our fully funded emergency fund. We still aren’t there, however we do have $5000 just sitting there in a savings account marked emergency. We have about $7000 in other savings accts for periodic expenses. I feel pretty comfortable, especially since dh has a very stable job. I still think that $10,000 would be ideal for us, however with needing to save cash to pay for a new roof and a new van in the next couple of years, I don’t see us increasing the amount in our EF by anything.

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