FC Community
Discussion Boards => Off-Topic => Topic started by: camellia0 on October 22, 2013, 11:42:04 am
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How many of you have this. I've been trying hard to build it up but emergencies always rise.
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How many of you have this. I've been trying hard to build it up but emergencies always rise.
Basically you have to have a DO NOT TOUCH FUND!
Everything is not an emergency.
Put the money away and forget you ever had it.
Even if it is 10 a week, that will eventually add up over time.
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It is always good to keep emergency fund available. Sometimes, I don't remember about it.
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It's good to have an emergency fund since you never know what might happen in your life.
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i wish we could put money away we are lucky to get our bills paid each month i am unemployed and my man works part time and we both are constantly looking for work that's why i do the fusion cash and other ptc sites
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How many of you have this. I've been trying hard to build it up but emergencies always rise.
Basically you have to have a DO NOT TOUCH FUND!
Everything is not an emergency.
Put the money away and forget you ever had it.
Even if it is 10 a week, that will eventually add up over time.
That only works if you actually have enough money to pay for unexpected things without touching the emergency fund. I'm personally not going to go into debt or go without something I need when I do have money in an emergency fund.
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It helps to prepare a budget. Most expenses shouldn't be unexpected if you plan ahead.
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thats where all the fusioncash money goes to directly to savings, earning more pennines :thumbsup: ;D
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My rule of thumb has been 8 to 10 months but the most important thing is that you have and continue to build it.
This is where FC trally cpomes in handy! :wave: :peace:
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Yes! I have one and I'm glad I do!
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We used to have a year saved up... but then when the economy tanked and we both lost our jobs at the same time, I guess you could call that an emergency!
I was grateful that we had it, but I miss having that security and cushion.
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I think it's a great idea to have an emergency fund. I don't want to have to depend on others or the government to help me during a crisis.
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I don't have anywhere close to this, nor have I ever. I used to have about 2 months saved, but then I lost my job and when I finally got another one last year I was already behind on bills and am making a lot less money. Seems I am always playing catch up and never have the free money to save.
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I tell my Kids the same thing! If you can just put $5 away a week, that still builds up!! I have about a 5 month emergency fund!! I am currently retired, so I don't think I need to keep building, just enough to tide me over!!
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How many of you have this. I've been trying hard to build it up but emergencies always rise.
It's definitely important to have, helps to keep you sane! hahaha and it reduces your worrying about what to do in those situations when you may need one!
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I know I should have one but I do not. I am hoping finishing this course in Taxes I will be able to work extra job during tax season and that should help starting one up. I hope. :wave:
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:-\
I don't it hard for me to save money but happy for good goingyou :thumbsup: :thumbsup:
How many of you have this. I've been trying hard to build it up but emergencies a
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i do fusioncash, got 2 payouts so far
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How many of you have this. I've been trying hard to build it up but emergencies always rise.
Glad you mention that. I have been trying to have one but guess what?
Looks like that fund become monthly used. Hard for me to have this one. Emergencies arises
every single months.. :notworthy: :notworthy: :notworthy:
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I need to work on having an emergency fund. That will be my goal for next year.
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I'm working on one. I have a hard time saving money in an emergency fund, when I'd rather be saving for a new car or a down payment on a house! But I'm trying to follow Dave Ramsey's steps, so the emergency fund comes first.
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I couldn't have said it better! It's so very tempting to splurge or "treat yourself" when you see the money start to add up and then when you actually need it you regret that trip to the mall or fast food joint. It takes discipline, but it definitely can be done.
How many of you have this. I've been trying hard to build it up but emergencies always rise.
Basically you have to have a DO NOT TOUCH FUND!
Everything is not an emergency.
Put the money away and forget you ever had it.
Even if it is 10 a week, that will eventually add up over time.
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I definitely understand. Try doing a budget analysis to make sure there isn't something you're spending on that you don't absolutely need. Maybe you could cut your minutes or turn off your cable or decrease the amount of water you use. You'd be amazed at what you can save when you learn a need vs. want. I've had to do this. Even now I cut corners to the point where it's a habit and I don't have to think about doing it.
i wish we could put money away we are lucky to get our bills paid each month i am unemployed and my man works part time and we both are constantly looking for work that's why i do the fusion cash and other ptc sites
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I've heard that name before (Dave Ramsey), I'll look him up today. I'm always anxious to learn about acquiring assets, saving, and investments.
I'm working on one. I have a hard time saving money in an emergency fund, when I'd rather be saving for a new car or a down payment on a house! But I'm trying to follow Dave Ramsey's steps, so the emergency fund comes first.
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We've been building our emergency fund slowly. My husband has a regular income now so it's been easier to save the extra.
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I don't have a emergency fund =(... I mostly spend my money on college tuition and necessity supplies... Never and hopefully had a emergency that requires a lot of money
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??? In 2008 my two month emergency fund was gone and my financial problems way outlasted the fund by months. Since then there has been no way to build it back up because as you said emergencies keep happening. I lost almost half my income when my husband died in January so two month emergency fund wouldn't have really helped with that and I didn't have another one anyway. Not everyone believes the same way but for me I have to believe in God to provide and he's never failed to do so yet.
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:-X I can't even have an emergency account. That's how tough things are for me. I wish I had one.
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I started in the beginning of the year but one thing after another always happened as well. I tried to forget i would have this emergency fund but didnt work. I have started up again and actually pretend as if it doesnt exist!
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I don't have an exact labeled emergency fund, but as I'm a very dedicated saver to begin with I have enough to last me a period of time. I just hope I don't have to resort to this anytime soon.
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I always try to save my FC money for emergencies.
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I know what you mean; last year my phone, washer, and transmission went out (in that order) and this year I had to get my truck joints replaced then my dryer and dvd player went out.
I started in the beginning of the year but one thing after another always happened as well. I tried to forget i would have this emergency fund but didnt work. I have started up again and actually pretend as if it doesnt exist!
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I don't but always say I'm going to. I'm like you, there is always an emergency. lol
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I'm in the process of building mine up. I used to have one, but I bought a house a few years ago and it became my down payment (investment). Most of the immediate house maintenance has been done, so now I've been concentrating on getting that emergency fund stocked up again.
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I wish I had it! I have only enough to live for the next sixty days.
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I don't have it, but I do save everything I can. I started saving when I was little and had close to $3000 when I asked my mom if I could open a bank account. Once I get a job, I will start working on something like that but for right now, I'm saving as much as possibly but doing what I need to to get that job.
What I keep telling my friend is to put SOMETHING aside. If you put all the change you get back throughout the day in a jar and that's your savings, then it's better than nothing. My friend said she has like $100 after all her bills to get food and other things she needs. I suggest she take $1-5 out at the least and put it aside so her savings start to accumulate. If you do something, not matter how small it seems, it will add up over time. And, you can always do things like if you get a bonus one month, put $20 in your savings instead of just the $5 so it sorta scales with your earnings.
You can also do something like a "want" pile and a "emergencies" pile, so for every $5 (or whatever number you set) you put in your emergencies pile, you get to put $1 in your want pile so that as you work towards getting something your really want, you build up an emergencies pile as well. Plus, then you'll have one pile to go to first before breaking into your emergencies pile.
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Great idea, but it is so hard for me to save money.
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I have enough to cover at least 6 months of expenses, if not more. Owning a house, always throws a curveball ; )
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Its always good to put back funds. It seems hard at first, but once you get started it becomes a habit.
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We used to have a year saved up... but then when the economy tanked and we both lost our jobs at the same time, I guess you could call that an emergency!
I was grateful that we had it, but I miss having that security and cushion.
Same thing happened here, only my husband was injured in a work accident and is now on permanent disability. We both are working several part time jobs and are always on the look out for anything else we can find. I think of our home as our retirement since the company we both had worked at for 25 years went bankrupt, taking our almost $700,000.00 retirement funds with it. They tell us we may still get about $7,000.00, but who knows by the time it is all done. I was very lucky to be able to save our home through refinancing, by the skin on my teeth(HA HA HA). SO NEEDLESS to say, every penny I get my hands on goes to bills. Before everything had happened we had been on a binge trying to pay everything off, so we are a lot luckier than a lot of people.
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We did have that emergency fund until we were hit with the furloughs this summer and then the government shutdown that occurred this month!!!!!!!!!!! Hits hard when there is nothing to fall back on!!!!!!
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I do it some time too. But the thing is that there are a lot of thing going on in life that you really need to spend it. :)
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In my current living situation I do have a 6 month emergency fund, but that is not my goal. My goal is to have a 12 month emergency fund in a more expensive living situation than I am now.
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Congratulations!! I'm in the process of saving to buy my home now.
I'm in the process of building mine up. I used to have one, but I bought a house a few years ago and it became my down payment (investment). Most of the immediate house maintenance has been done, so now I've been concentrating on getting that emergency fund stocked up again.
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I like your post! Very valuable info.
I don't have it, but I do save everything I can. I started saving when I was little and had close to $3000 when I asked my mom if I could open a bank account. Once I get a job, I will start working on something like that but for right now, I'm saving as much as possibly but doing what I need to to get that job.
What I keep telling my friend is to put SOMETHING aside. If you put all the change you get back throughout the day in a jar and that's your savings, then it's better than nothing. My friend said she has like $100 after all her bills to get food and other things she needs. I suggest she take $1-5 out at the least and put it aside so her savings start to accumulate. If you do something, not matter how small it seems, it will add up over time. And, you can always do things like if you get a bonus one month, put $20 in your savings instead of just the $5 so it sorta scales with your earnings.
You can also do something like a "want" pile and a "emergencies" pile, so for every $5 (or whatever number you set) you put in your emergencies pile, you get to put $1 in your want pile so that as you work towards getting something your really want, you build up an emergencies pile as well. Plus, then you'll have one pile to go to first before breaking into your emergencies pile.
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I have probably enough to survive money wise for close to that, getting there slowly but surely
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stock up on the canned goods, the good rice, the good oats, the granola bars - and add some sweets for comfort! :thumbsup:
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I have tried it. Never made it to 6 months but glad i had what i did when i did. I havent been able to build one back up though i think i should. :thumbsup: :thumbsup: :thumbsup:
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I put money aside and try not to use it. I am a server so I put some of my tips up each night and it builds up fast.
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I'm no where near that!
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I am currently working on a plan to get our finances back on track. We don't have a six-month (or even greater) emergency fund yet, but with our growing savings, I'm excited for our financial future. Having a plan helps me be in control of the money instead of the money controlling me.
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lol. I can't even afford to put back $10 a month. Let alone have a 6 month emergency fund. People are living pay check to pay check and most can't afford to do this.
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Everyday is an emergency at my house. I barely pay the bills, much less save anything!
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I'm working on one. I have a hard time saving money in an emergency fund, when I'd rather be saving for a new car or a down payment on a house! But I'm trying to follow Dave Ramsey's steps, so the emergency fund comes first.
The emergency fund comes first? So you put money in an emergency fund instead of buying food, gas for your car, or fixing your car if it tears up and you have no other way to get to work? There are a lot of people living pay check to pay check and even though they are working the do not have enough to make it or barely make ends meet. And they have cut out all the extras. It's hard to make it on min wage and getting part time hours. And sites like this only seem to help me once a year or so. I don't know how people make so much money or enough to cash out every month.
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Definitely have one. It puts one a good comfort zone. If you set aside just a little each week, it does add up!
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I'm working on one. I have a hard time saving money in an emergency fund, when I'd rather be saving for a new car or a down payment on a house! But I'm trying to follow Dave Ramsey's steps, so the emergency fund comes first.
The emergency fund comes first? So you put money in an emergency fund instead of buying food, gas for your car, or fixing your car if it tears up and you have no other way to get to work? There are a lot of people living pay check to pay check and even though they are working the do not have enough to make it or barely make ends meet. And they have cut out all the extras. It's hard to make it on min wage and getting part time hours. And sites like this only seem to help me once a year or so. I don't know how people make so much money or enough to cash out every month.
An emergency fund comes first in regards to your savings. You can only save when you have money left over from other expenses.
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We've got way less than 6 mos., but the FC money goes right to the savings. Every little bit helps.
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I know my parents try and do this.. something always seems to come up though for whatever reason. :BangHead:
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It sounds nice to have but there is no way we could save it up for that. We live week to week unfortunately!
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I know the feeling lol It's like every income tax season a part on the truck needs to be replaced or a major appliance breaks down.
I know my parents try and do this.. something always seems to come up though for whatever reason. :BangHead:
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Try sacrificing something. Whether it's eating out or name brand cleaning products, try cheaper alternatives and pocket the savings. There's got to be some way to cut corners to be able to put away at a few dollars per week.
It sounds nice to have but there is no way we could save it up for that. We live week to week unfortunately!
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We have a good strong emergency fund set up. Now if the stupid president doesn't come after all of us and take money out or our accounts. Am very woried about what is going to happen while he is in office. I also believe you should have at least a 3 month of food stuff and other supplies stored.
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I also have had trouble in the past with this, but it is now a goal I am working on and with the Lords help I will build up a savings and emergency fund. Good luck!!
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I would love to have an emergency fund, but I barely make end meat as it is; so no can do :(
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I actually opened up 2 accounts.. checking and savings. I have certain small amount checks going into my savings. Any other work checks or bigger checks go into my checking. I do not touch my savings at all. I have direct deposit on my checks that are small that go into my savings so I kinda just forget about that account and let it add up. Even if I have no money for something, I wait until I get more money THEN I will buy it. If I absolutely need something important and dont have the money, I will bring returnables back and use that money... But it is usually just gas money. Returnables are a great way to pay for your gas if you can save them til you really need to use them. Another great way to save money. :thumbsup: :wave: 8)
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I use my paypal account for this. All my cashouts go to my paypal and I don't make any withdrawals unless I really need it. Then at Christmas time I can go to my paypal and use some of that for the holidays. Works pretty well for me, but you have to make sure you forget about that money and DON"T take any of it unless absolutely necessary.
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I would love to have emergency fund but the thing is Im always in emergency lol ;D ;D ;D
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not me.
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I'm currently building one. I do not touch a penny from it & let it collect interest.
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This may sound like a stupid question, but what are returnables? This sounds like a good tip.
I actually opened up 2 accounts.. checking and savings. I have certain small amount checks going into my savings. Any other work checks or bigger checks go into my checking. I do not touch my savings at all. I have direct deposit on my checks that are small that go into my savings so I kinda just forget about that account and let it add up. Even if I have no money for something, I wait until I get more money THEN I will buy it. If I absolutely need something important and dont have the money, I will bring returnables back and use that money... But it is usually just gas money. Returnables are a great way to pay for your gas if you can save them til you really need to use them. Another great way to save money. :thumbsup: :wave: 8)
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It is a great idea to have an emergency fund. But with the economy and my being financially challenged, there is no emergency fund.
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I can't do it either.....it takes all I have to live by.....
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I understand your concern of debtors taking your money out of your account, that's why I closed my savings, which I hate I had to do because I could be earning monthly interest. That's also why I've been hesitant to purchase stocks and (6) bonds. I read something the other day about a loan forgiveness or debt forgiveness program, I'll do research on that soon.
We have a good strong emergency fund set up. Now if the stupid president doesn't come after all of us and take money out or our accounts. Am very woried about what is going to happen while he is in office. I also believe you should have at least a 3 month of food stuff and other supplies stored.
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i'm luckly enough to say I do have a stash put back for an emergency . I do not touch it. I add to it when I can even if its only 5 bucks lol
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Well I can't tell you that I have a 6 month emergency fund but I do have about 3 weeks worth saved up. It was quite an eye opener to me that the government went into a series of shutdowns earlier this year. My husband has a civilian job in the air force and, as I do the budgeting in the house, I made a huge effort to save up as much as I could in case of shutdowns. I'm so pleased I did. I realise we got back the furlough money as from 1st October but the sequestion that happened in July/August time, we did not get back. We lost $1,800. We will never get that back!
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I do.
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I thank you for that info., because if I had that emergency fund I would not be in trouble now.....
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Sorry you lost that money, but it's good you have what you have saved up, even if it's not as much as you'd like. Some is always better than none and a lot of people can barely pay their bills so for you to be able to save a little is great. You will regain what you lost x10.
Well I can't tell you that I have a 6 month emergency fund but I do have about 3 weeks worth saved up. It was quite an eye opener to me that the government went into a series of shutdowns earlier this year. My husband has a civilian job in the air force and, as I do the budgeting in the house, I made a huge effort to save up as much as I could in case of shutdowns. I'm so pleased I did. I realise we got back the furlough money as from 1st October but the sequestion that happened in July/August time, we did not get back. We lost $1,800. We will never get that back!
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i have just started doing this. what i have started doing is saving the money i make online in my paypal account and not touching it ;)
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Great plan! I also do this, I realized how much ebay shopping I was doing earlier this year and had to control myself. I'd have much more in that account if I'd realized it earlier.
i have just started doing this. what i have started doing is saving the money i make online in my paypal account and not touching it ;)