Do you have an emergency fund?
@BigMoney25 (1286)
Philippines
April 14, 2017 1:12pm CST
It is said that you need to have an emergency fund worth 6 months of your salary so that when something happens to you, you have enough funds to pull out to cover your expenses. For me, I follow this and that's the only amount that I have in the bank, the rest I keep in the stock market and mutual funds, and some of it I keep in a safe. I don't want to sit most of my money in the bank since I want my money to be productive as well.
How about you? Do you also have an emergency fund?
3 people like this
5 responses
@1hopefulman (45111)
• Canada
14 Apr 17
Yes, I learned at a young age to always have something for a rainy day. And it has served me well over the course of life. 
@BigMoney25 (1286)
• Philippines
16 Apr 17
Yeah I agree with you, we should always have something for a rainy day so that we are prepared and we don't have to worry at all. It is important to have an emergency fund since we can never predict what's gonna happen in the future. So if something happens, at least we have something to pull out so that we can survive another day I suppose. Happy mylotting! @1hopefulman
1 person likes this
@1hopefulman (45111)
• Canada
16 Apr 17
@BigMoney25 We can also learn from the ant. Proverbs 6:6-8 Good News Translation (GNT) 6 Lazy people should learn a lesson from the way ants live. 7 They have no leader, chief, or ruler, 8 but they store up their food during the summer, getting ready for winter.
1 person likes this
@buenavida (9984)
• Sweden
17 Apr 17
No, I have almost no emegercy fund.. I have bought some food supplements that I can sell and take - some are actually food, so I will not starve for some months - I have kept my credit cards in order, so I can use them when and if necessary.. I am also earning from a couple of businesses online.. it looks like they are working this time.. 
@dragon54u (31633)
• United States
14 Apr 17
I did have such a fund but it's been badly depleted as I've dealt with my son's issues. Paying for a rehab facility and repairing his teeth took nearly all that fund plus $12K on my credit cards. I have a lot of it paid down now and am putting all I can into my emergency fund. I have less than a month's expenses in there right now but hopefully I can get enough online work to build it up more quickly. I feel very insecure when I don't have a solid emergency fund!
@infatuatedbby (94909)
• United States
14 Apr 17
It is important to have emergency fund just encase.
