how much do you keep in your emergency fund? - Page 2 - Mothering Forums

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#31 of 35 Old 08-18-2009, 12:19 AM
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We have $20K right now and are debating whether or not it needs to be higher. In addition, we have sink funds for predicted expenses -- license renewal, insurance premiums, our accountant, etc. In theory we have a car replacement fund as well, although our budget is so tight that we only save $25 a month toward that.
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#32 of 35 Old 08-18-2009, 12:40 AM
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Goal: $15000. Reality: about $400. And that's to go towards moving to separate homes. Every time we get some extra money, it's sucked away in some crisis. I'm divorcing next year (as soon as we can afford to move) and I'm NEVER living like this again! No more paycheck to paycheck for me!!!!!

Good for you for thinking about it!
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#33 of 35 Old 08-18-2009, 11:37 AM
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Right now? Practically nothing.

We just (like 3 days ago) paid off our last credit card. We now have a substantial chunk of money to send to savings each month with a $10,000 goal. Should take us about 8 months.

Frugal, food growing mama to my four loves

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#34 of 35 Old 08-18-2009, 12:20 PM
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My current answer is that we save as much as we think is reasonable. We only have one savings account, and we regularly add to it. This savings account is not only used for emergency savings, but also as a sinking fund for any large purchases. I am still working on building up the amount of money in the account, right now we have a few months worth of expenses saved up. I think it will be a VERY long time before I feel like I have *too much* money in my savings account and need to move money to other places.

New signature, same old me: Ann- mama of 2 boys and 2 girls, partnered to a fabulous man.
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#35 of 35 Old 08-18-2009, 12:30 PM
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We have 7-8 months expenses sitting around in the highest yield savings acct. we can find, which is only like 1.9%, and some more in ING CDs. If I didn't feel so insecure about the market I would probably only keep 3-6 months at most uninvested.

XM,: mama to ds (5/08), dd (9/10) and ds (6/12) ! whale.gif :C.H.S & M.

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