Comments on: Step 3: Fully Funded Emergency Fund

By: Trevor @ Financial Nut

Trevor @ Financial Nut — Mon, 16 Mar 2009 23:02:09 +0000

Great article. Emergency funds are so important. Thanks for the clarifications. Trevor @ Financial Nut’s last blog post..A Financial Blogger Interview With The Owner & Author Of Studenomics

By: LVLC

LVLC — Tue, 02 Dec 2008 02:21:14 +0000

I have a doubt and have been surfing the net about it… About the full emergency fund. Say is 6 months of expenses… This expenses include basic needs only? or should we include envelopes for say car insurance, oil, repairs, or entertainment, or clothes… I mean… things that I take a little bit every month til they accumulate and then buy… OR should I just include, say MORGAGE, FOOD, GAS, etc, only?

By: Back To Basics: Establish A Personal Finance Emergency Fund | My Super-Charged Life

Wed, 08 Oct 2008 12:57:25 +0000

[...] your debt except your mortgage, then you should add to your emergency fund. The goal is to accumulate 3 to 6 months living expenses. This way if you lose your job or get hurt and can’t work, you can survive [...]

By: Should You Tithe When Times are Hard?

Should You Tithe When Times are Hard? — Mon, 11 Aug 2008 14:42:43 +0000

[...] $1,000 emergency fund, pay off all debt using a debt snowball, save 3 to 6 months living expenses (fully funded emergency fund), invest 15% of household income in retirement funds, create a college fund for your children, pay [...]

By: Spend Less Than You Earn

Spend Less Than You Earn — Wed, 23 Jul 2008 14:53:02 +0000

[...] cards. Dave Ramsey recommends starting out with A $1,000 emergency fund, then graduating to a fully funded emergency fund of 3-6 months of living expenses. I think this is a great place to start. Your emergency fund gives [...]

By: How to Get a Payday Loan (if you must) | Smarter Money Management

How to Get a Payday Loan (if you must) | Smarter Money Management — Thu, 12 Jun 2008 11:48:02 +0000

[...] 3: 3 to 6 months of expenses in savings – Being [...]

By: 5 Strategies to Survive An Economic Slowdown | Moolanomy

5 Strategies to Survive An Economic Slowdown | Moolanomy — Tue, 25 Mar 2008 13:05:21 +0000

[...] Dave Ramsey Baby Step 3 Fully Funded Emergency Fund at Being Frugal [...]

By: Getting Ahead in College | Green Panda Treehouse

Getting Ahead in College | Green Panda Treehouse — Thu, 13 Mar 2008 01:04:23 +0000

[...] Once you eliminated your debt, come back and build a cushion of 3-6 months of expenses. [...]

By: partgypsy

partgypsy — Wed, 12 Mar 2008 20:15:12 +0000

I just read Dave Ramsey’s total money makeover. I didn’t think I would like it as much as I did. We are doing some, but not all of his advice. For example we have 8K of debt(heloc). He would recommend stopping all contributions to 401K and also emptying all but 1K from emergency account to pay it off. Upon discussion with my spouse, we are more comfortable with: use the EF for the most recent emergency, and continue to pay off this debt at usual pace, and keep contributing to retirement. As we tried to raise money to pay off last emergency without EF, we will instead apply this extra money towards the debt instead.
But overall I think he has alot of good advice.

By: kentuckyliz

kentuckyliz — Wed, 12 Mar 2008 13:24:16 +0000

gypsy, I totally understand about not wanting to touch the EF. I’ve piled mine up nicely and it feels like a nice warm security blanket. I know I should pay off my last debt outright with it, but I have grown so attached to that big fat steamin’ pile o’ cash!!!