How Much Money Is Enough For Your Emergency Cash Fund

| Comments | 1 TrackBack
coins.jpgNow more than ever the idea of an emergency cash fund is critical.  Many personal finance gurus recommend that individuals and/or families put aside at least 3 months of living expenses in a conservative vehicle (such as a CD, money market fund, or traditional savings account).   Living expenses include: mortgage, taxes, utilities, food, gas, and car payments.  

An emergency cash fund is a must in any economic environment (including good times) as you never know when you may lose your job, need to make an emergency home repair, etc.  I also believe that establishing an emergency cash fund should be done early (that is, within the first six months of your first job) and ahead of any other money matter (even before funding your 401K).  Having cash at the ready provides a sense of security and freedom and also builds discipline in terms of saving for the cash fund.

I like to have well over 3 months of emergency cash on hand and I would recommend an amount closer to 6-9 months of living expenses.  Look for an online money market fund via ING or Vanguard and connect it with your checking account (this way transferring money to your emergency fund is easy and convenient).

Related Posts with Thumbnails

1 TrackBack

TrackBack URL: http://www.scordo.com/cgi-sys/cgiwrap/scordo/managed-mt/mt-tb.cgi/161

I'm a big fan of doing it yourself.  However, I will always hire a pro when:1. The project is important.  For example, I would never aim to re-wire my electrical system, run a new gas line, or put in a new roof... Read More

scordo on twitter scordo.com on facebook become a fan stumble scordo rss feed for scordo

Scordo.com Free Newsletter - Sign Up Today
* indicates required

BECOME A FAN OF SCORDO ON FACEBOOK:



GOOD READING:



MORE ABOUT US:



FEATURED STORIES:


Homemade Sun Dried Tomatoes in Olive Oil Recipe
Don't settle for the canned varieties found at supermarkets; find out how to make your own [+]


How to Make Authentic Tomato Sauce
This is the authentic Scordo family recipe - straight from Calabria. You'll be amazed at how simple the recipe is to make [+]


Guide to Italian Extra Virgin Olive Oil
My grandfather produced his own extra virgin olive oil in Italy and I've put together an olive oil buying guide just for you [+]


How to Make Rice Balls or Arancini At Home
The ultimate Italian street food - these fried treats are great for the holidays or for any lunch or dinner; try them with your kids [+]


Guide to Making Espresso at Home
Making good espresso at home isn't easy but once you master a few easy tips you'll never settle for the junk served at most cafes in the US, including Starbucks [+]


Why You Should Not Eat Out
My argument on why eating out doesn't make sense [+]


Guide to Italian Meats: Salame, Capicola, Prosciutto, etc.
Learn all about the great "deli meats" and authentic cured specialties from Italy [+]


Scordo Pizza Recipe
Who doesn't love pizza, but did you know it's real easy to make at home [+]

 


English to Italian Translation Powered by
Grab this Widget


SPONSORS, AFFILIATES, SUPPORTERS:

Italian Food and Life Site


mymelange
Independent Budget Backpacking Travel Tips

Advertise with Scordo.com
Advertise with Scordo.com

 


 

DONATE AND HELP KEEP US GOING:

 

Feeling generous and want to help keep Scordo.com producing fresh and original content?

 

QUESTIONS, IDEAS, TIPS:

 

email scordo.com: blog at scordo.com

 

 

Note: The views expressed herein are solely my own and should not be attributed to my employer in any way. This site is not maintained utilizing my employer's resources or on company time.

 

RSS feed graphic for scordo.com Subscribe to Scordo.com via RSSBlog Flux Directory