Sept. Emergency Fund Challenge!
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  1. #1

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    Default Sept. Emergency Fund Challenge!

    Yes, it time for another payment into the good 'ol emergency fund. Some people say you should have 3-4 months for an emergency fund but with the unstable economy THEY are now suggesting 6 months!

    What I want to know is . . . who is they? They always have so much to say don't they?
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  2. #2

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    Even though it seems I am in this challenge by myself now, I am still going to keep going. Time to put another $200 in my emergency fund making a grand total of . . . $4,000.00. Yipee!!!!
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  3. #3
    Heather Bob
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    I'm almost embarassed to say we don't have one! It's one of those things that I keep saying, I have to set one up and never do. Do you have it as a savings account and transfer if need be or a chequing account?
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  5. #4
    Registered User Mom23boys's Avatar
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    We had to use ours up and now we need to start rebuilding it again. I get paid on the 25 of the month, so I plan to pay toward it.
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  6. #5

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    I keep it in a savings account & when I have $5,000 I will lock it up in a GIC or something. So far I haven't needed to use one penny.
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    Registered User couponchic's Avatar
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    What is a GIC? We have a savings account and I periodically deposit money into it. I really need to get into the habit of making a fixed amount per week or month.
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  8. #7

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    A GIC stands for guaranteed interest certificate I believe. It may not be available in the US. Another choice might be a bond. Something with low risk but a little higher interest then just you get with a savings account.
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    Registered User Jeanna's Avatar
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    I am with you Heather. But I am working on setting one up. I am also setting up a vacation account. A vacation every 7 years is not to much to ask, I don't think.
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