Comments on: When is the right time to start an emergency fund? http://www.bluntmoney.com/when-is-the-right-time-to-start-an-emergency-fund/ Wed, 12 Oct 2011 07:20:40 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: Mrs. Money http://www.bluntmoney.com/when-is-the-right-time-to-start-an-emergency-fund/comment-page-1/#comment-56538 Mrs. Money Wed, 03 Jun 2009 15:55:09 +0000 http://www.bluntmoney.com/when-is-the-right-time-to-start-an-emergency-fund/#comment-56538 I agree, there's no time like the present! It takes awhile, but it is possible. :) I agree, there’s no time like the present! It takes awhile, but it is possible. :)

]]> By: bouncing back betty http://www.bluntmoney.com/when-is-the-right-time-to-start-an-emergency-fund/comment-page-1/#comment-56533 bouncing back betty Wed, 03 Jun 2009 13:34:44 +0000 http://www.bluntmoney.com/when-is-the-right-time-to-start-an-emergency-fund/#comment-56533 I know lots of folks struggling with the concept of an E fund while paying down debt-should they even have one, etc. I agree with you 100%, simply put, open some sort of an account and start funding it, even if it's with a few dollars a week even if you are paying down your debt. If you have a true emergency and have thrown all your cash towards debt and no access to any additional funds what are you going to do? At least with an E-fund there is some cash somewhere for you! I know lots of folks struggling with the concept of an E fund while paying down debt-should they even have one, etc. I agree with you 100%, simply put, open some sort of an account and start funding it, even if it’s with a few dollars a week even if you are paying down your debt. If you have a true emergency and have thrown all your cash towards debt and no access to any additional funds what are you going to do? At least with an E-fund there is some cash somewhere for you!

]]> By: Tom http://www.bluntmoney.com/when-is-the-right-time-to-start-an-emergency-fund/comment-page-1/#comment-56510 Tom Wed, 03 Jun 2009 02:10:29 +0000 http://www.bluntmoney.com/when-is-the-right-time-to-start-an-emergency-fund/#comment-56510 Definitely I agree the best time is always now. It is more difficult at times to figure out how much that initial emergency fund should be. 3-6 months expenses is a common recommendation. However, I do like the Dave Ramsey plan of a smaller $1000 emergency fund (I know, it often is not easy even to get that amount of a fund). Then with all money beyond expenses that comes in, pay off debt. If you can pay off smaller debts you get more room in the budget to cash flow smaller emergencies if necessary. Definitely I agree the best time is always now. It is more difficult at times to figure out how much that initial emergency fund should be. 3-6 months expenses is a common recommendation.

However, I do like the Dave Ramsey plan of a smaller $1000 emergency fund (I know, it often is not easy even to get that amount of a fund). Then with all money beyond expenses that comes in, pay off debt. If you can pay off smaller debts you get more room in the budget to cash flow smaller emergencies if necessary.

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