Emergency Fund
By maxsee212
@maxsee212 (799)
United States
March 15, 2008 4:22pm CST
Do you have an emergency fund? If you don't, you might consider saving money to start one. An emergency fund is basicly money that you could you for emergency spending. Like say, if you lose your job, you have money to support yourself to buy the things that you need. Experts say that an emergency fund should be able to support you 3-6 months just in case you lose your job and you need time to look for a new one.
1 person likes this
1 response
@enchantedleppard (1541)
• United States
15 Mar 08
We have funds set aside to handle an emergency, we have a savings, we have a Christmas account.. so yes, we have quite a few back ups. Not to mention a 401k for retirement. Not bad for a 25 year old huh?
1 person likes this
@maxsee212 (799)
• United States
15 Mar 08
not bad. i guess you are financially savvy. are you taking advantage of your employers matching program for you 401K? you should take advantage of it to its fullest and when your done with that you could also invest in an IRA.
@enchantedleppard (1541)
• United States
15 Mar 08
Yep I'm at 6%, thats what my match maxes out at.
1 person likes this
@maxsee212 (799)
• United States
15 Mar 08
don't go over the amount that your employer is matching. you should start an ira where you can put your extra money.
