Who has actually used their emergency fund? Tell us about it! - Page 3

starshard0 · 04-22-2008, 03:22 PM

I have excellent job security, plus all of my utilities are payed for (I literally have $0 of expenses per month). Needless to say, I don't have an emergency fund, and instead I invest all of the money I make. I do plan on saving up a big chunk over the summer (getting a promotion), and I will probably set that aside into my savings instead.

Mary Webber · 10-30-2008, 05:13 AM

Years ago we started buying Savings Bonds through an automatic deduction plan. Of course every time we saw our stockbroker, he'd urge us to put that money to "better use," to earn a "much better return" in the market. Well, we resisted, and that $20,000 has been an absoute godsend. Sure, we've had penalties when redeeming a few of the more recent bonds, and we will declare the earned interest, but that safety net has eliminated a lot of stress in our lives.

AnninOhio · 11-01-2008, 10:38 AM

I used mine recently to hold a specific room for my mom at the nursing home she was in for rehab. Long story short, she's been admitted there several times but had a specific wing and group of staff she really liked. No sooner had we managed to get her a room in that wing than she had to go in the hospital with kidney failure. It cost a couple of thousand to hold that room for her, but to be able to tell her she would be able to go back to exactly the room she wanted was priceless. One of those moments where you say, "Oh, yeah. THAT's why I saved up that money."

singleguymoney · 11-22-2008, 09:36 AM

I have 2 levels of defense against emergencies. I have the Emergency Fund to dip into in case of job loss or a major catastrophe and I have a short term savings account to account for the other minor things that come up. I've had to dip into the short term account a few times but fortunately, I've been able to refill it back to my desired level.

wiggles · 11-22-2008, 01:22 PM

As of right now we have not but that could happen very soon.

RickLee · 11-23-2008, 01:05 PM

My emergency fund was actually invested in stocks. I dipped into it several weeks ago, to buy inventory for my business. I figured it would return 25 to 50% profit and since it happened before the recent stock market slide it was even a better move.

olena99 · 12-03-2008, 02:57 PM

If you are not disciplined, you can easily put yourself for impulse purchases...
When you must use money from emergency fund, make repaying it your top priority.

RJ W · 12-04-2008, 12:04 PM

I built it up to six months, and now down to three due to wedding expenses. Paying in cash has proven to be an amazing way to save for services.

My income is stable (isn't that what everyone says), but would still want to get it back up to six.

olena99 · 12-10-2008, 05:50 PM

After meeting basic needs, and while reducing spending — is to start an emergency fund.

MoneyTrev · 12-11-2008, 05:50 AM

I'm not having an emergency fund right now.

All into investments !

10-30-2008, 05:13 AM	#22
Mary Webber Family Thrift Counselor Join Date: Jun 2008 Location: Maine Posts: 145 Thanks: 0 Thanked 0 Times in 0 Posts Reputation: (27)	Years ago we started buying Savings Bonds through an automatic deduction plan. Of course every time we saw our stockbroker, he'd urge us to put that money to "better use," to earn a "much better return" in the market. Well, we resisted, and that $20,000 has been an absoute godsend. Sure, we've had penalties when redeeming a few of the more recent bonds, and we will declare the earned interest, but that safety net has eliminated a lot of stress in our lives. __________________ Family Thrift Counselor - Get practical advice on how to save money and eat better.

11-22-2008, 09:36 AM	#24
singleguymoney Member Join Date: Jul 2008 Location: Georgia Posts: 88 Thanks: 0 Thanked 2 Times in 2 Posts Reputation: (12)	I have 2 levels of defense against emergencies. I have the Emergency Fund to dip into in case of job loss or a major catastrophe and I have a short term savings account to account for the other minor things that come up. I've had to dip into the short term account a few times but fortunately, I've been able to refill it back to my desired level. __________________ I'm a single guy trying to get out of debt. Visit my personal finance blog @ http://www.singleguymoney.com

12-03-2008, 02:57 PM	#27
olena99 Junior Member Join Date: Dec 2008 Posts: 27 Thanks: 0 Thanked 0 Times in 0 Posts Reputation: (10)	If you are not disciplined, you can easily put yourself for impulse purchases... When you must use money from emergency fund, make repaying it your top priority. __________________ Payday Loans Canada

12-04-2008, 12:04 PM	#28
RJ W Junior Member Join Date: Nov 2008 Location: Chicago, IL Posts: 11 Thanks: 0 Thanked 1 Time in 1 Post Reputation: (11)	I built it up to six months, and now down to three due to wedding expenses. Paying in cash has proven to be an amazing way to save for services. My income is stable (isn't that what everyone says), but would still want to get it back up to six. __________________ Our Financial Planner

12-10-2008, 05:50 PM	#29
olena99 Junior Member Join Date: Dec 2008 Posts: 27 Thanks: 0 Thanked 0 Times in 0 Posts Reputation: (10)	After meeting basic needs, and while reducing spending — is to start an emergency fund. __________________ Payday Loans Canada

04-22-2008, 03:22 PM	#21
starshard0 Senior Member Join Date: Apr 2008 Location: Monterey, CA Posts: 608 Thanks: 0 Thanked 2 Times in 2 Posts Reputation: (13)	I have excellent job security, plus all of my utilities are payed for (I literally have $0 of expenses per month). Needless to say, I don't have an emergency fund, and instead I invest all of the money I make. I do plan on saving up a big chunk over the summer (getting a promotion), and I will probably set that aside into my savings instead.

11-01-2008, 10:38 AM	#23
AnninOhio Junior Member Join Date: Oct 2008 Posts: 4 Thanks: 0 Thanked 0 Times in 0 Posts Reputation: (10)	I used mine recently to hold a specific room for my mom at the nursing home she was in for rehab. Long story short, she's been admitted there several times but had a specific wing and group of staff she really liked. No sooner had we managed to get her a room in that wing than she had to go in the hospital with kidney failure. It cost a couple of thousand to hold that room for her, but to be able to tell her she would be able to go back to exactly the room she wanted was priceless. One of those moments where you say, "Oh, yeah. THAT's why I saved up that money."

11-22-2008, 01:22 PM	#25
wiggles Banned Join Date: Nov 2008 Posts: 12 Thanks: 0 Thanked 0 Times in 0 Posts Reputation: (10)	As of right now we have not but that could happen very soon.

11-23-2008, 01:05 PM	#26
RickLee Senior Member Join Date: Nov 2008 Location: Canada Posts: 119 Thanks: 0 Thanked 2 Times in 2 Posts Reputation: (17)	My emergency fund was actually invested in stocks. I dipped into it several weeks ago, to buy inventory for my business. I figured it would return 25 to 50% profit and since it happened before the recent stock market slide it was even a better move.

12-11-2008, 05:50 AM	#30
MoneyTrev Member Join Date: Dec 2008 Posts: 38 Thanks: 0 Thanked 0 Times in 0 Posts Reputation: (10)	I'm not having an emergency fund right now. All into investments !

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