Where do you keep your Emergency Fund?

[Rubic]

Using the Papillon method. (As in the novel.)
So far so good.

Is this similar to the pocket watch method in Pulp Fiction?

[Pedant alert]:  It was a wristwatch, not a pocket watch.

[protostache]

Using the Papillon method. (As in the novel.)
So far so good.

Is this similar to the pocket watch method in Pulp Fiction?

[Pedant alert]:  It was a wristwatch, not a pocket watch.

Made by the first company to ever make wrist watches. (d'oh)

[oneil]

Late update.... Ended up taking a chunk of our "emergency fund" and maxing out both my and my husband's Roth IRAs. We had been contributing monthly.. but maxed that out.. now back to adding to the E-fund.. I've been too lazy to move it to a higher interest account yet..

[markbike528CBX]

Using the Papillon method. (As in the novel.)
So far so good.

Curiosity didn't kill this cat, but yet once again I learn the truth of the statement:
" Don't ask questions you don't want the answer to"

[cheapass]

Keep ours in a rewards checking account offered by Texas Bank. They pay 2.5% up to $25,000 and we just have to have 1 direct deposit and 10 or 12 card transactions per month. Easy money.

[Erica]

In a few different places. Mainly in a fireproof container in the house

[dreams_and_discoveries]

I don't have a true emergency fund, as I don't feel I need one.

I have £4k disposable income a month I can easily divert from investing if an emergency comes up, I usually have a slush fund in my current account as well as it gets 3% interest.

[HawkeyeNFO]

More credit on Visa and MasterCard than will ever be needed, so the e-fund is not required.  Mutual funds could be tapped to pay off the CC bill and avoid interest.

[Playing with Fire UK]

I have a float in my current accounts and 'emergency' cash in a shoe in the hall. Here emergency = taxi home when I lose my bike and wallet or committing the mmm sin of having food delivered.

I consider all other money fungible (unless it is in a pension account).

[FiftyIsTheNewTwenty]

I keep 5k at Mango Money earning 6%.


It's been stated a few times but HELOCs and credit cards aren't good emergency funds. Some people had them closed down in 2008, but what was more common was to have the limit drastically decreased to the point they were basically frozen.

They can and may still do this, in response to a major charge.

My mom was basically ruined by using her HELOC, not even anywhere near the limit.  Her loan then got sold to a sleazy subprime operator (Ocwen), who keep overcharging for her escrow account, misapplying payments and then charging BS fees, etc.

Credit card companies do this as well, in fact it's very much their MO.  Make a big charge and they'll lower your limits, raising your utilization even more, purposely lowering your credit score so they can both charge you more interest and fees, and kill your options for balance transfer.  You can usually avoid this by paying in full within 30 days, so you're probably OK if you have enough elsewhere to cover it.

[Rubic]

It's been stated a few times but HELOCs and credit cards aren't good emergency funds. Some people had them closed down in 2008, but what was more common was to have the limit drastically decreased to the point they were basically frozen.

They can and may still do this, in response to a major charge.

My mom was basically ruined by using her HELOC, not even anywhere near the limit.  Her loan then got sold to a sleazy subprime operator (Ocwen), who keep overcharging for her escrow account, misapplying payments and then charging BS fees, etc.

Credit card companies do this as well, in fact it's very much their MO.  Make a big charge and they'll lower your limits, raising your utilization even more, purposely lowering your credit score so they can both charge you more interest and fees, and kill your options for balance transfer.  You can usually avoid this by paying in full within 30 days, so you're probably OK if you have enough elsewhere to cover it.

+1

Unlike Blance DuBois, I never want to rely upon the kindness of strangers. I have my emergency funds in FDIC accounts.

[Regular Guy]

I keep my emergency fund (which is truthfully too big right now and will be reallocated shortly) in a USAA savings account drawing an anemic .15% interest.

[WackyTomato]

I also have one of these crappy 1% interest savings account.  From time to time it goes above 1% for a couple of months when there is a promotion or whatever.

[gggggg]

I have 10k in a 1% money market. My taxable vanguard is always available if needed. I also keep about $500 cash, in my fire safe.