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Thread: emergency fund

  1. #1

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    Default emergency fund

    I have been working very hard on getting to stay home with my kids. The only downside to that is I make just enough to pay our bills(we have no credit card debt, just a car payment and house payment). I am considering taking a full time postion in out hospital which would take my bring home pay from 550 to 1500 every 2 weeks. We could put that extra 950 dollars into a saving account every 2 weeks saving considerably in 6 months. What do you think?

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    Registered User TheRootedNomad's Avatar
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    I would probably do that long enough to have 6 months worth of bills and then use it to pay off the car or the house. It sounds like your bills are really low so I suspect lower balances that could be paid off fairly quickly at that rate. Do know if I'm guessing correctly at the balances though. I would definately want some savings, especially with how the ecomomy is now.

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    Registered User my4littlebuffaloes's Avatar
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    I would consider working more to 1) get your baby EF, 2) pay off the car and 3) build 6 months worth of EF. Then go back to part time or quit and rest easy!

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