Emergency Fund - FMVperformance.com : The site for all your Ford Mazda and Volvo needs
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post #1 of 34 (permalink) Old 07-21-2007, 10:36 PM Thread Starter
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Emergency Fund

Just wanted to find out how many of you guys have an emergency fund. I am starting to invest in an IRA and soon to be investing in my 401K plan at work. I been reading articles and it recommend 3 to 6 months of my salary.
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post #2 of 34 (permalink) Old 07-21-2007, 11:16 PM
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Re: Emergency Fund

yeah, i keep a minimum amount in a money market account so it's easy to get to, and anything extra goes into long term investment.
i also have a christmas account so that i always have that covered and don't have to use credit cards and pay any interest.

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post #3 of 34 (permalink) Old 07-21-2007, 11:21 PM Thread Starter
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Re: Emergency Fund

I plan on saving 3 months in a money market account. Just hard to do when its so easy to get to. Whats a Chrismas account? something done at you local back?
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post #4 of 34 (permalink) Old 07-21-2007, 11:24 PM
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Re: Emergency Fund

why is money market hard to do?
im about to dump all my money except 1 grand for emergeny that instant/fun time use into money market.
i dont need alot of money on hand however since i live with my parents. >.<
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post #5 of 34 (permalink) Old 07-21-2007, 11:30 PM
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Re: Emergency Fund

Ha ha ha ha ...no.


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post #6 of 34 (permalink) Old 07-21-2007, 11:32 PM
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Re: Emergency Fund

I contribute to my IRA and regular brokerage account. I need to start contributing more though. But I'm invested and diversified.

I also contribute to my ESPP (can't contribute to 401k until I hit my year anniversary).
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post #7 of 34 (permalink) Old 07-21-2007, 11:44 PM
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Re: Emergency Fund

id dont really have a plan for saving money right now, but usually i have 2-4 months of my pay saved. i also defer 5% into a 401k and my employer will match all, or most of it (i cant remember the exact amount).


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post #8 of 34 (permalink) Old 07-21-2007, 11:47 PM Thread Starter
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Re: Emergency Fund

I am going to max out my Roth Ira and Try and do the 3 months pay saved in a money market. I would like to max out my 401k with 15,500 and 5% from my employer but thats like 40% of my salary.
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post #9 of 34 (permalink) Old 07-22-2007, 09:49 AM
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Re: Emergency Fund

Currently I'm only contributing 6% of my pay (plus a 4% match from my employer) away. After paying off some debt, I will retain a $1,000 emergency fund at all times.


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post #10 of 34 (permalink) Old 07-23-2007, 04:25 PM
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Re: Emergency Fund

[quote author=kilacam19 link=topic=83920.msg1575005#msg1575005 date=1185074460]
I plan on saving 3 months in a money market account. Just hard to do when its so easy to get to. Whats a Chrismas account? something done at you local back?
[/quote]

yeah, it's just another account and I have a certain amount transferred automatically each month to that account from my checking account. Then I use the money in that account for x-mas presents.

2006 Whitewater Pearl Mazda 3 S GT Hatch: Garage Vary Valiant Lip, Grill and Eyelids : Custom JL/Alpine Audio : MazdaSpeed Accessory Springs and Swaybars : JDM MazdaSpeed Strut Bar : Koni Yellows : 5Zigen Pro Racer zr520 : Continental ExtremeContact DW : Buddy Club Condenser : XE Pedals : Black Rays Lugs : HP Tint : Stubby :
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