expert says: forget the ER fund
November 13th, 2007
Just as I begin mine, someone says it’s not that important.
“The whole idea that everyone needs a big pile of cash, and needs it right now, should be rethought. In reality, the failure to have a fat emergency fund isn’t inevitably a crisis. At the same time, those who feel safe because they have three or even six months’ expenses saved up might be kidding themselves.”
Read the rest here.
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5 Responses to “expert says: forget the ER fund”
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I think it’s in everyone’s best interested to create an ER fund. These are very uncertain times that we live in and I would like to think that we should all be prepared, regardless of what the “experts” say. Afterall the experts can’t agree on anything.
BTW-I love your blog!
Right? that’s what I think, too.
Thanks for visiting!
GG,
Thanks for adding me. A lot of people, when they hear that, are kind of amazed. I grew up in a church where I became close friends with a lot of people that were a few years older and younger. Some couples (including my previous relationship) formed through this, given that everyone had known each other since we were kids, and that it eliminated casual dating from a lot of our lives.
That being said, some of the couples are in 23-26 range, so a little older than me. They did however get married closer to 22/23. Those couples formed when they were teenagers 15/16, and they (and everyone else) knew, that they’d rather start life together sooner than later.
I feel weird about it sometimes, especially when I was in a relationship (with a guy that was also a couple years older). but I’ve learned to really be blessed by watching love stories unfold, knowing that each couple’s story is different, regardless of age. =)
Okay, i just typed an essay again. ;p
PS. I read through some of your archives tonight, and I could really tell we have a lot in common!
Interesting article. I have just started my emergency fund. I’m not as concern about some catastrophic event happening as I am about day-to-day stuff, such as the hot water heater going out, unexpected doctor bill, etc. I was shooting for $3000 which wouldn’t even get us through 2 months of expenses if one of us was out of work (again). I am seriously thinking that I should just put a few hundred in a sock and concentrate on debt repayment. Thanks for sharing.