View Full Version : Where do you keep your emergency fund?
tbs727 06-23-2005, 06:02 PM I am trying to get my husband to read the Dave Ramsey books. I think we are going to read one together as a study.
My DH has been an impulsive spender and hasn't always been honest about his purchases. I want to be able to trust him now but I'm nervous about it. One of his arguements for wanting to keep carrying a debit card is for emergencies. (such as a flat tire) So my question is, where do you keep your emergency fund? I would like to not keep money in the checking account. It wouldn't do any good for him to carry a debit card if our EF is in a savings account....
homesteadmamma 06-23-2005, 06:05 PM Its in a seperate bank account. It has not checking or debit card priviledges. If we need to take something out, we have to go to the bank to do so. Although right now there isn't a whole lot in it. :toothy:
Michelle 06-23-2005, 06:29 PM Right now, mine is in ING.com
If I have a situation where I need immediate cash (like when I'm on the road), I will use my debit card and then transfer the money from ING to my checking account afterwards.
Mom23boys 06-23-2005, 07:52 PM Originally posted by Michelle
Right now, mine is in ING.com
If I have a situation where I need immediate cash (like when I'm on the road), I will use my debit card and then transfer the money from ING to my checking account afterwards.
Same here. It keeps me from tapping into it whenever I want.
tightwadmommy 06-23-2005, 08:48 PM Me too. Have my little bit in ING. :toothy:
handmerounds 06-23-2005, 09:27 PM I have mine in my savings account at the bank. So far its working for us.
gkp1031 06-24-2005, 07:51 AM Mine is in the savings account--I've been pretty good about not touching it!! I do have a small amount in ING and haven't touched that at all :)
Michelle 06-24-2005, 07:52 AM Where does Dave Ramsey say one *should* put their EF? I had the book but returned it to the library yesterday. Oops :)
reanybeany 06-24-2005, 08:49 AM I haven't read his book yet. My library didn't have one. I have listened to his radio show a few times. I didn't find it at the used bookstore either, but I found YMOYL. I had a credit so it was FREE. I am starting my EF at ING so can't get my hands on it too easily.
DEBT: 1,000
EF : 0.00
bridge 06-24-2005, 01:34 PM Mine is also in ING.
kaykwilts 06-24-2005, 02:52 PM We have an ING account where we keep the EF.
Prairiemom 06-24-2005, 04:10 PM I started mine in a separate savings account. No debit card or check book for this account. I have to go to the bank to make any transactions.
I don't know your situation but, how about dh not using a debit card and instead budgeting a certain amount of cash for him each week?
For small emergencies I keep a $20 dollar bill tucked in one of the card slots in my wallet away from my spending money.
:)
tbs727 06-24-2005, 05:14 PM Originally posted by Prairiemom
how about dh not using a debit card and instead budgeting a certain amount of cash for him each week?
That's exactly what we plan to do. He just wants to keep a debit card in case of a tire blow out or that kind of emergency... I guess we could just plan on keeping $100 on hand for that kind of emergency. He has also talked about getting a secured credit card in case of emergencies... That way it is still money out of our pocket and we don't have any debt. I've never had a secured credit card, are there many reasons not to have one?
Rhaynefall 06-24-2005, 05:35 PM ING for me for our main savings.
More accessible savings is in a credit union savings account that only I have the card and pin for.
Then we have a small cedar box stashed with a bit of money in it for extreme emergencies.
Of course, right now the total of those three is just over $200, but it's a start.
mom2knk 06-24-2005, 06:48 PM Ours is in a savings account.
We have ours in a savings acct. A lot of you have ING. I have thought about it but do not know much about it. Are there rules to taking your money out? Is there things I need to know before doing ING? They don't say much about it on the web site other than how much interest you earn by comparison.
Michele Annette 06-28-2005, 04:37 PM Mine is in a seperate account from my savings and checking. Even though I don't have a debit card for this account, on a weekday I can tranfer the funds online, into my checking account if I need access to the cash.
Emerald_Mommy 06-28-2005, 07:37 PM Ours is just in our regular savings account. We're thinking about opening a separate savings account but we haven't yet.
bridge 06-28-2005, 08:02 PM Juto you have PM................
What is PM? Sorry, do not understand the abbreviation...
bridge 06-29-2005, 12:21 PM If you go to the top right of this screen and click on Users CP. This will take you to your CP (Control Panel)
In their you have a PM (Private Message) mail box. That you can get messages at.
Hope this helps, if not ask ....
Thanks Bridge! I don't know my way aroung Frugal Village yet! I will email you with that info...
bridge 06-29-2005, 01:17 PM No Problem!!! Glad to help!!;)
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