Author Topic: How do you handle your "emergency fund"?  (Read 14918 times)


  • 5 O'Clock Shadow
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  • Posts: 21
Re: How do you handle your "emergency fund"?
« Reply #50 on: July 31, 2014, 08:49:50 PM »
I've just recently hit the 10k mark for my emergency fund.  That is about 3.5 months after-tax income for me, but I save about 30% of my income, so it's actually about 5.5 months expenses at my current spending rate, and I definitely still have cuts I could make to that spending (I'm on the MMM path, but not too far) so I could make it last longer.

Right now I just have all my savings in super low yield savings account, but I'm playing around with putting money in different higher-yield accounts.  One option has 5% for up to 5000, I have an account that will pay 6% on up to $500, and then I'll try to find an account that earns at least 1% of the rest of it.

I have a hard time knowing what I'd spend my emergency fund on.  Obviously rent and bills if I lost my job but like... if I needed more than 10k I feel like that would be time to go into Serious Emergency mode that would involve things like moving in with my parents (realizing that's not an option for lots of folks).

My situation is that I'm single, no kids.  My boyfriend & I are looking to move in together in the next few months though and I'm hoping he lets me just handle all the finances and at that point I'll reassess what we need.


Wow, a phone plan for fifteen bucks!