Emergency Fund Question

**AmyBoz** · 03-24-2004, 02:35 PM

To those of you involved in the emergency fund. Do you all keep that money in a bank account, or are some of you just putting aside cash somewhere in your home in case you need it?

I'm not going to open up another bank account for an emergency fund, but I am starting to put aside money in a secret location in my house, just in case. I don't know if that qualifies and I thought I'd ask!

**homesteadmamma** · 03-24-2004, 02:41 PM

Mine is in our savings account. I have a book that keeps track of the savings, emergency and freedom account. So even though I have a specific amount in our savings, I know it isn't all for savings, kwim.

**Shell** · 03-24-2004, 05:37 PM

I have a special account that I call my emergency fund account. I have no cheques to it or a debit card so I am not tempted to spend it. Once it reaches a certain limit I take the money and either buy and GIC or a bond with it.

I think if you save it at home you can still call it an emergency fund. But please, be very careful. I would hate to see that you were robbed and had that money stolen. As an insurance broker I know that there is a very small limit your policy will pay.

I hope this helps.

**halo475** · 03-24-2004, 08:20 PM

I have a seperate account for my emergency money at ING Direct. That way it is easily accesible, but not too easy

**graci42** · 03-24-2004, 10:09 PM

It's in my checking account...Don't laugh too hard but I've only had 2 checks left for the past 6 months...hehehe The only way I'm writing a check will be for a REAL EMERGENCY!