Comments on: Reluctance to Use Emergency Funds http://frugaldad.com/2008/02/13/reluctance-to-use-emergency-funds/ Tips for living frugal while still having a life Thu, 18 Mar 2010 18:56:47 -0500 http://wordpress.org/?v=2.8.5 hourly 1 By: Local Emergency Savings Funds | Frugal Dad http://frugaldad.com/2008/02/13/reluctance-to-use-emergency-funds/comment-page-1/#comment-19062 Local Emergency Savings Funds | Frugal Dad Sat, 28 Feb 2009 04:37:42 +0000 http://frugaldad.com/2008/02/13/reluctance-to-use-emergency-funds/#comment-19062 [...] an emergency with the self-promise to pay it off when I get the bill. The bill arrives, and I am reluctant to use such a large chunk of savings to pay if off in one payment, so I rationalize that I will pay [...]

[...] an emergency with the self-promise to pay it off when I get the bill. The bill arrives, and I am reluctant to use such a large chunk of savings to pay if off in one payment, so I rationalize that I will pay [...]

]]> By: Kevin http://frugaldad.com/2008/02/13/reluctance-to-use-emergency-funds/comment-page-1/#comment-14630 Kevin Sat, 27 Dec 2008 22:10:06 +0000 http://frugaldad.com/2008/02/13/reluctance-to-use-emergency-funds/#comment-14630 Lynnae, I'm curious about what unexpected taxes you have to pay with your emergency fund. If they are income taxes, you should change your deductions to reflect the appropiate amount so you do not pay or get back the next year. If they are property taxes, start saving through the year so you are not "surprised" again. Dave Ramsey has some great books and advice on these topics. You should find them at your library. Best wishes for 2009 Kevin Lynnae,
I’m curious about what unexpected taxes you have to pay with your emergency fund. If they are income taxes, you should change your deductions to reflect the appropiate amount so you do not pay or get back the next year.
If they are property taxes, start saving through the year so you are not “surprised” again.
Dave Ramsey has some great books and advice on these topics. You should find them at your library.
Best wishes for 2009
Kevin

]]> By: Financial planning tips and Roth IRA conversion planning for those in their 30s and 40s » Chance Flavors of the Week http://frugaldad.com/2008/02/13/reluctance-to-use-emergency-funds/comment-page-1/#comment-354 Financial planning tips and Roth IRA conversion planning for those in their 30s and 40s » Chance Flavors of the Week Sun, 17 Feb 2008 11:38:25 +0000 http://frugaldad.com/2008/02/13/reluctance-to-use-emergency-funds/#comment-354 [...] Reluctance to Use Emergency Funds - Nice easy read on the importance of an emergency fund and how you should set it up. I agree with FD, using credit as an emergency fund is plain wrong, if anything, it should act as overdraft protection for your emergency fund. [...]

[...] Reluctance to Use Emergency Funds – Nice easy read on the importance of an emergency fund and how you should set it up. I agree with FD, using credit as an emergency fund is plain wrong, if anything, it should act as overdraft protection for your emergency fund. [...]

]]> By: Frugal Bachelor http://frugaldad.com/2008/02/13/reluctance-to-use-emergency-funds/comment-page-1/#comment-306 Frugal Bachelor Thu, 14 Feb 2008 01:06:58 +0000 http://frugaldad.com/2008/02/13/reluctance-to-use-emergency-funds/#comment-306 My policy is to never withdraw from my savings account, ever. In my main savings account which I opened up a little over a year ago, I don't have a single withdrawal. I've had one emergency and I paid it with credit card and took loan out of future paycheck which would have gone into savings. I'm currently paying it back with money which I would have spent and am paying myself interest! My policy is to never withdraw from my savings account, ever. In my main savings account which I opened up a little over a year ago, I don’t have a single withdrawal. I’ve had one emergency and I paid it with credit card and took loan out of future paycheck which would have gone into savings. I’m currently paying it back with money which I would have spent and am paying myself interest!

]]> By: 1stopmom http://frugaldad.com/2008/02/13/reluctance-to-use-emergency-funds/comment-page-1/#comment-304 1stopmom Wed, 13 Feb 2008 23:22:58 +0000 http://frugaldad.com/2008/02/13/reluctance-to-use-emergency-funds/#comment-304 You are tagged! I love your site. You are tagged! I love your site.

]]> By: Jeff@My Super-Charged Life http://frugaldad.com/2008/02/13/reluctance-to-use-emergency-funds/comment-page-1/#comment-303 Jeff@My Super-Charged Life Wed, 13 Feb 2008 22:33:08 +0000 http://frugaldad.com/2008/02/13/reluctance-to-use-emergency-funds/#comment-303 We love our emergency fund. It gives us that sense of security that is so nice to have. We are just about debt-free (except for the mortgage) and are ready to start building up a bigger emergency fund very soon. Great article! We love our emergency fund. It gives us that sense of security that is so nice to have. We are just about debt-free (except for the mortgage) and are ready to start building up a bigger emergency fund very soon. Great article!

]]> By: sassysunflwr http://frugaldad.com/2008/02/13/reluctance-to-use-emergency-funds/comment-page-1/#comment-301 sassysunflwr Wed, 13 Feb 2008 19:18:38 +0000 http://frugaldad.com/2008/02/13/reluctance-to-use-emergency-funds/#comment-301 We just used $400 of our emergency fund to replace a drive shaft and u-joints in my husbands truck. It was wonderful not having to stress and turn to credit cards to find the money - instead a quick transfer of funds and poof its paid for. And even better the emergency fund should be fully again by the end of the month! Great post! We just used $400 of our emergency fund to replace a drive shaft and u-joints in my husbands truck. It was wonderful not having to stress and turn to credit cards to find the money – instead a quick transfer of funds and poof its paid for. And even better the emergency fund should be fully again by the end of the month! Great post!

]]> By: Chicky Finance http://frugaldad.com/2008/02/13/reluctance-to-use-emergency-funds/comment-page-1/#comment-300 Chicky Finance Wed, 13 Feb 2008 16:27:13 +0000 http://frugaldad.com/2008/02/13/reluctance-to-use-emergency-funds/#comment-300 I am using the same template. The weird thing is when you look at chickyfinance.blogspot.com, the pink flower is there and then you go back to real domain name second time that flower will be there. But you never go blogspot website, the pink flower will not appear on the real doman name.I am confused :( I am using the same template. The weird thing is when you look at chickyfinance.blogspot.com, the pink flower is there and then you go back to real domain name second time that flower will be there. But you never go blogspot website, the pink flower will not appear on the real doman name.I am confused :(

]]> By: Frugal Dad http://frugaldad.com/2008/02/13/reluctance-to-use-emergency-funds/comment-page-1/#comment-299 Frugal Dad Wed, 13 Feb 2008 16:18:47 +0000 http://frugaldad.com/2008/02/13/reluctance-to-use-emergency-funds/#comment-299 Chicky - I don't see your "pink flower image" as I remember it appearing. Was it a background image, or part of your header? Perhaps this is an issue with the new template. Congrats on building out your own domain by the way - I look forward to your future posts. Lynnae - Don't taxes just stink! At least you have the funds in place to pay them - smart move. Ron - That line of thinking helped me cut up my credit cards. I figured instead of attaching $10,000 of the bank's money to a piece of plastic I would simply attach my own (when fully funded). Writer's Coin - You are so right. It's been said that there is no softer pillow than having money in the bank. Justin - I like your plan to save up to pay off those loans when they come do. Be sure to save something outside of that account strictly for emergencies (illnesses, car repairs, etc.). You don't want to be completely wiped out (financially) when you pay off the student loans. Chicky – I don’t see your “pink flower image” as I remember it appearing. Was it a background image, or part of your header? Perhaps this is an issue with the new template. Congrats on building out your own domain by the way – I look forward to your future posts.

Lynnae – Don’t taxes just stink! At least you have the funds in place to pay them – smart move.

Ron – That line of thinking helped me cut up my credit cards. I figured instead of attaching $10,000 of the bank’s money to a piece of plastic I would simply attach my own (when fully funded).

Writer’s Coin – You are so right. It’s been said that there is no softer pillow than having money in the bank.

Justin – I like your plan to save up to pay off those loans when they come do. Be sure to save something outside of that account strictly for emergencies (illnesses, car repairs, etc.). You don’t want to be completely wiped out (financially) when you pay off the student loans.

]]> By: Chicky Finance http://frugaldad.com/2008/02/13/reluctance-to-use-emergency-funds/comment-page-1/#comment-298 Chicky Finance Wed, 13 Feb 2008 16:01:55 +0000 http://frugaldad.com/2008/02/13/reluctance-to-use-emergency-funds/#comment-298 Frugal Dad- I got a new domanin name but seems like my pink flower image does not appear sometimes. Can you see it? www.chickyfinance.com and I am on my way to build up my emergency fund of $1,000. Thanks for the article! Frugal Dad-
I got a new domanin name but seems like my pink flower image does not appear sometimes. Can you see it? http://www.chickyfinance.com and I am on my way to build up my emergency fund of $1,000. Thanks for the article!

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