Comments on: A complete guide to emergency funds – Part 1

By: My top posts yet. | eMoneyLog

My top posts yet. | eMoneyLog — Sat, 25 Jul 2009 12:34:17 +0000

[...] 3. The basics of an emergency fund [...]

By: prime-targeting

prime-targeting — Wed, 08 Jul 2009 06:12:59 +0000

Thanks for sharing such great post, according to me there are numerous reasons when we need such emergency funds. By building an emergency fund you will feel more secure because you are prepared for the facing any financial crisis.

By: 5 personal finance lessons we all should re-learn from the present financial crisis | eMoneyLog

Thu, 25 Jun 2009 02:55:34 +0000

[...] emergency fund is like a safety net you can build to insulate yourself in case of any unfortunate events that may [...]

By: Checking Account, A complete reference | eMoneyLog

Checking Account, A complete reference | eMoneyLog — Sun, 21 Jun 2009 15:08:14 +0000

[...] A complete guide to emergency funds – Part 1 [...]

By: admin

admin — Wed, 17 Jun 2009 01:53:42 +0000

I posted a relevant comment here:

http://www.affinefinancial.com/2009/06/16/carnival-time/comment-page-1/#comment-771

The reason I suggest not to put your emergency fund money in CDs is two fold.

1. There is penalty for breaking a CD
2. During a crisis you want your money to be easily accessible.

There are definitely advantages to have CD in terms of interest rate but to get good rate you have to put your money in long term CDs. What one could do is they could allocate some money to CDs and keep some in Checking/Savings account so that they do not always have to break their CD in case of an emergency.

By: Affine Financial Services » Blog Archive » Carnival time

Affine Financial Services » Blog Archive » Carnival time — Wed, 17 Jun 2009 01:26:25 +0000

[...] from eMoneyLog wrote a two part Complete guide to emergency funds, which in general is quite good. I disagree, however with his statement that certificates of [...]

By: threadbndr

threadbndr — Tue, 16 Jun 2009 22:21:20 +0000

and me too. Just knowing that – if I was handed a ‘pink’ slip, I wouldn’t have to take the first job if it wasn’t the ‘right’ job – such a relief.

And it smooths out lifes little bumps. Example. A couple of years ago, our office switched to a new payroll services provider. They totally messed up the first payroll that they were responsible for. We were paying people from petty cash and having to cover overdraft fees for people when auto debits came out, etc, etc. My boss was all like ‘why aren’t YOU in a panic?’ Meh, all I did was call my bank, move some $ from my efund to my checking account and business as usual. What could have been a nightmare was not even an inconvience.

By: A complete guide to emergency funds - Part 2 | eMoneyLog

A complete guide to emergency funds - Part 2 | eMoneyLog — Thu, 11 Jun 2009 02:48:24 +0000

[...] Part 1: [...]

By: AG

AG — Wed, 10 Jun 2009 13:37:28 +0000

Among other things, “psychological advantages” you mentioned, matters a lot, at least to me