Do you have an Emergency Fund?

That is something I sure hope I can put aside. I am targeting to put aside half a year of salary first. Then ultimately one year of my salary. That is one of the goal that I am trying to achieve. Something I am sure I will be able to do. IT is a matter of time taken to achieve that goal. It is always good to put aside some cash for that rainy day. You never know when you are going to need it. Better to be prepared than be sorry.

I had $20,000 American Dollars in an emergency fund. I now have $850 the last time I checked the market. I have been taking a lot of money out to do house repairs and pay bills. I'm very, very worried that I won't get to Chrismas with that little bit on money left. The best memory of taking money out was the 5 thousand I took out for a wedding. Now I wish I had just eloped! I would still have some money left. I have not had employment that has paid me enough to pay my bills from when I left one job in 1998 until 2000 and then I left another job that paid enough toward the last 1/2 year in 2004. Then I got another good job in 2005, but had to leave that at the very beginning (February) of 2007. So since 1998, I have had two years (including the 1/2) year when I made enough money to pay my bills. I was not able to replace more than $1,000 of the emergeny fund and then I had to take out the thousand when I lost my job the last time to carry me through to finding another job (no income at all for over a month) plus I had to take out $500 more to finish the month and start the next month until I received my first pay check. So, GO FOR IT! Put as much money as you can away. I wish I could put some away right now. But instead, I'm worried about how to pay my bills for the next two months.

I think if I put money aside for an emergency fund I would end out using it for a luxury item like a vacation. I consider credit cards best used for emergency funds. Our health care is paid for here and I wouldn't lend money to anyone other than my children. My husband has loaned money to friends and has had trouble getting the money back. My mother gave us an advance inheritance when she sold her house and we wisely invested a good portion of it towards our mortgage. We'll be paid off in less than 2 years now. We also invested in an almost new vehicle for my husband because he was always bringing home clunkers that didn't last very long. And gawd! My kids are such clothes hogs. So we have spent a lot of money on clothes. I've had to pull hard on the reins now but with Christmas coming I could end out finishing it off. My husband does have a lot of money invested in retirement funds which we consider emergency funds as he has had to withdraw a lot of it over the last few years.

AS a matter of fact I do. I'm saving for my daughter's education in the future. In case there is a problem with our health on any of our family members it won't be a problem at all because my company has health benefits for my daughter and husband. I also got an investment which I can use anytime in case there is an emergency.

I don't have a main emergency fund but I do have a car fund which I regularly put money into every month. The cost of running a car is so expensive so I top up my account as much as I can afford every month so that by the time the insurance, road tax and MOT are due I can pay out straight away no hassle. I like to keep a fair amount in this account just incase I have an accident in my car too...if I wrote my car off tomorrow I feel safe in the knowledge I have enough to buy a cheap run around which would probably last me for a few days while I save for something better.

hi, sydney. my husband and i do have an emergency fund, although it's not much right now. we have a hard time setting aside some money increase that fund. we started saving up even before we got married and we have withdrawn a considerable amount from that fund for some reason. but that's ok right? at least we are trying. it's also one of our top priorities. you'll never know when you will badly need money and having such fund would make things easier. have a nice day!

I think that is the way to do. Many people do not have the culture of saving, and when emergencies strike, they completely find themselves at a great loss!

frankly speaking now I do not have. i made one but the money got exhausted,. main part is that the I am only one to contribute there. so its hard to maintain

No, I don't currently have an emergency fund. I know I should. I used to have a good amount set aside. I then fell upon hard times and had to use it. Now I have to rebuild it. It is very hard to build it up.

We have funds in a Roth account and in a 401K. We are just working on getting just a regular savings account. Every time we do get ahead to save, something big always comes up and we have to spend it. But God always provides!! LOL

Very nice of you to do that. It's hard here in my place to save. Everyday, most people try to make ends meet. What most people earn is sometimes not enough for daily needs.

I do. I even have two to be honest, one a bit smaller ($1000) that I can access very easily (meant for smaller emergencies) and one bigger, where my goal is to have 6 months of salaries (I am still working on that one, I think I will have that in December this year). I never used any money from them so far, thank god!