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Started By
Message
How many of you have actually had to use an Emergency Fund?
Posted on 5/25/20 at 8:15 pm
Posted on 5/25/20 at 8:15 pm
Currently keeping 30k in a savings account. That would probably keep the wife and I going 8-10 months if we really had to cut expenses out.
Our jobs are solid. No debt outside of mortgage. My thinking is this is too much. She wants to keep it there just in case.
I have never had to use an emergency fund and I am 30. How many of you have had to tap into it? And how much do y’all like to keep liquid?
Our jobs are solid. No debt outside of mortgage. My thinking is this is too much. She wants to keep it there just in case.
I have never had to use an emergency fund and I am 30. How many of you have had to tap into it? And how much do y’all like to keep liquid?
26
Posted on 5/25/20 at 8:17 pm to HarveyBanger
30k would keep you going for 8-10 months but the only debt you have is a mortgage? Lol wut
Posted on 5/25/20 at 8:18 pm to HarveyBanger
No one one here has b/c we are all rich.
Posted on 5/25/20 at 8:19 pm to HarveyBanger
I like to keep a minimum of 75k.
Posted on 5/25/20 at 8:19 pm to HarveyBanger
Posted on 5/25/20 at 8:24 pm to HarveyBanger
I can probably go 18 months, but we are expecting our first child in September and I my expenses will increase a lot.
Posted on 5/25/20 at 8:27 pm to HarveyBanger
I had a stable job, until I didn’t have a stable job. Emergency fund was the only thing that kept me from having to take the first shitty job that came along and take the time I needed to find the right one. I needed every dollar of it.
Posted on 5/25/20 at 8:36 pm to HarveyBanger
I figured that people with <50k in their savings account probably qualified for welfare.
This post was edited on 5/25/20 at 8:37 pm
Posted on 5/25/20 at 8:37 pm to HarveyBanger
quote:
Currently keeping 30k in a savings account.
Congrats on the zero return.
Posted on 5/25/20 at 8:38 pm to dewster
quote:
we are expecting our first child
You dont seem very excited, but congrats anyway.
Posted on 5/25/20 at 8:38 pm to PillPusher
quote:
Currently keeping 30k in a savings account. That would probably keep the wife and I going 8-10 months
Posted on 5/25/20 at 8:40 pm to Allthatfades
quote:
Currently keeping 30k in a savings account. That would probably keep the wife and I going 8-10 months
Not sure what is so unbelievable about this ???
Posted on 5/25/20 at 8:41 pm to HarveyBanger
My emergency fund is in all Krugerrands.
Posted on 5/25/20 at 8:41 pm to HarveyBanger
That is way too much.
Posted on 5/25/20 at 8:42 pm to HarveyBanger
Have not had to go there.
Only time was Katrina to effect repairs before getting reimbursed.
Used about $30k out of it then for repairs.
Only time was Katrina to effect repairs before getting reimbursed.
Used about $30k out of it then for repairs.
Posted on 5/25/20 at 8:43 pm to HarveyBanger
You are really dumb for keeping that much in a savings account.
How much do you have stuffed in your mattress?
How much do you have stuffed in your mattress?
Posted on 5/25/20 at 8:43 pm to HarveyBanger
Not that it’s unbelievable, it shouldn’t be in a savings account.
That money needs to make you money.
That money needs to make you money.
Posted on 5/25/20 at 8:45 pm to HarveyBanger
quote:
Currently keeping 30k in a savings account. That would probably keep the wife and I going 8-10 months
Not sure what is so unbelievable about this ???
If the only debt you have is a mortgage, how in the hell would you burn through 30k in 8 months?
Posted on 5/25/20 at 8:46 pm to HarveyBanger
quote:
Not sure what is so unbelievable about this ???
It's far from unbelievable. I keep a few months expenses at hand. I invest the rest. If you are paying a mortgage, you are going backwards sitting on that much savings.
Posted on 5/25/20 at 8:48 pm to HarveyBanger
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