Comments on: Switch from Debt Reduction to Emergency Fund

By: Stephanie

Stephanie — Wed, 03 Mar 2010 03:02:21 +0000

For the record, the author of this article is not a Dave Ramsey fan.

By: kristina

kristina — Tue, 02 Mar 2010 17:49:49 +0000

The author of this article MUST be a Dave Ramsey fan! All the advice that I get from Dave is sound. If you haven’t heard of him; your missing out. The article was good for a Dave Ramsey non-listener… but the rest of the folks it was all just a common sense refresher. Baby step 1.

By: WP

WP — Tue, 26 May 2009 20:05:37 +0000

I almost always focus more on getting out of debt before I work on putting monies into my emergency fund. Besides putting more into it, I haven’t touched my emergency fund since it’s creation.

By: Gary

Gary — Mon, 17 Dec 2007 18:40:59 +0000

Stephanie,

The “peaceful” feeling you carry by having the emergency fund is one thing. But I think the practice of building the fund also teaches you (at least it did for me) something in the process of adding on a regular basis to the fund. It proves to yourself that you can save money, your can control how your money behaves. It puts you in control of where the coins are going, instead of them flying out.

The emergency fund also let’s you win and seeing the balance go up. For whatever reason the credit card bills seem to move downward ever so slowly.

Keep building that fund because the “unexpected” is expected sometime.

I wish ore young people would grab hold to the problems debt causes in their lives!

All the Best,

Gary

By: Stephanie

Stephanie — Wed, 17 Oct 2007 17:37:41 +0000

Brian,

Actually, I do have a cell phone. I’m not sure what point you’re trying to go at, however. Yes, I have my own car. Yes, I’m getting a higher education. These things have been well addressed throughout this blog.

I could better address your concerns if I knew what you’re trying to point out.

By: Brian McGrath

Brian McGrath — Wed, 17 Oct 2007 17:05:53 +0000

So … you get to take classes while you work, live with your mom and dad, you have a generous grandmother, and you drive to work and to school in your own car. Tell me at least that you don’t have a cell phone.

By: Stephanie

Stephanie — Tue, 09 Oct 2007 18:09:52 +0000

Brian,

I have a car because I live 20 miles away from my campus – where I go to class and work. My car was partially a gift from my grandmother. It is my biggest expense, but it allows me to live off campus, at home with my parents, which saves me $3,500 a year.

By: Brian McGrath

Brian McGrath — Tue, 09 Oct 2007 17:15:37 +0000

You’ve got a car !? … luxury, luxury, luxury.

By: Jon

Jon — Mon, 13 Aug 2007 16:02:01 +0000

For me, having an emergency fund gives me great peace of mind. I would rather have it sitting in the bank than have paid an extra $1000-$1500 on my debts during the time I was saving. It has already saved me in an instance where I needed to write a check to someone where a credit card would have been of no use.

By: Jennifer

Jennifer — Sun, 12 Aug 2007 02:14:30 +0000

I have this sort of emergency fund, but for me it is called my summer fund. Since I drive school bus and don’t work essentially all summer. I have to work all winter to make enough to be able to live during the summer and because I don’t work in the summer I tend to want to do things, so I need that money to say go to the zoo.

So my emergency fund runs short right now…but I grow it as large as possible by June.

I try very hard not to use any credit cards. Those are my backup emergency fund. Aaaahhhh when I have to use them it sucks.