Everything You Need to
Know About Emergency Funds Michelle from Making Sense of Cents answers all the burning questions about emergency funds — for those times when «you need money fast».
Not exact matches
Anyone who's listened to Dave Ramsey's radio show
knows that he's all
about common sense: avoid buying on credit, pay cash for everything possible, get yourself out of debt and build an
emergency fund.
So far the only things l really
know are
about saving,
emergency funds, and using side hustles to make more.
I just don't
know much
about these things but I live and drive cheaply and add to my
emergency fund about 800 a month now that I'm done with school so I don't
know if that extra infohelps
I do not need an
emergency fund right now, but when I think
about what six months of wages could earn if invested I
know that I am going to just have an open line of credit in case I need money fast (job loss, illness, big repair).
I vaguely
knew about the 6 month
emergency fund rule, but wasn't sure when I should implement that.
1) Health insurance 2) Term Insurance: suggest me for what amt i have to take policy 3)
Emergency fund: for this i want to
know about Liquid MFs 4) Medium term investment: for house construction 5) Long term investment: for future purposes
I
know when I was out of college for
about a year or so I struggled with putting together an
emergency fund.
I
know this is a question
about investing, but I would also suggest making sure she has a cushioned
emergency fund
And that last point
about having an
emergency fund for security so you
know that if your furnace breaks down you can handle it speaks to the other side of the coin for not trying too hard to solve the problem of your investments being boring: they should help remove stress from the rest of your life, not add to it.
Before you even think
about paying extra on the mortgage I would pay off all consumer debt, have an
emergency fund of 3 - 6 months of living expenses and set up a savings account for the «You
know about it» expenses.
Whether you want to
know about saving for an
emergency fund, what is the difference between a 30 year fixed and a 5/1 ARM, or how to deal with a specific situation just for you, I am welcoming audio questions from you in addition to the email questions I've been answering since this site opened its virtual doors in 2006.
(Yes, I
know emergencies happen, even when you have an
emergency fund, so this is not talking
about that situation).
1) Health insurance 2) Term Insurance: suggest me for what amt i have to take policy 3)
Emergency fund: for this i want to
know about Liquid MFs 4) Medium term investment: for house construction 5) Long term investment: for future purposes