First topic on new board!

[annemc]

Im working on it, thats why Im in the Credit Union, they really encourage you to save and when you need to draw your money for an emergency you have the option of raising a loan with low and diminishing interest payments over a period of time that suits you.

Im not spamming with this but its definately the answer to my prayer and possibly a lot of other people too if you could look into this. I cant sing their praises highly enough

that way you still have savings and continue to save while repaying our loan every little helps

Anne

[Starlite]

You bet we do. *After going through unemployment with my dh about 3 years ago, I realized that the old rule of thumb about having 3 months of your salary stashed away was not enough. *My dh was unemployed for 5 months. *We got through that time OK because we are excellent savers and we did have money put back. *We now have 6 months of dh's salary stuck back, plus other accounts and investments we can tap into if we have a desperate emergency.

[allgirls]

we had $8000.00 at one point. then dh was let go. after 2 1/2 years of unemployment and under employment we used it all up. we have since paid off cc that we used to offset paycheck. we are now starting to save again. we are doing the change thing for now. and once I can get this decluttering under control then I will put my attention to actively saving.
The experts changed the 3 month to more like 6-9 months.

allgirls

[lamby248]

well, right now I have a few hundred dollars sitting in the bank, but I don't really have that saved back for emergencies. I will though next year put some back to cover insurance deductibles in case I have an accident or something happens to my house.

[maoftwinboys]

Yes, we have an emergency fund.

I hadn't heard the new "standard" was 6-9 months instead of 3. So I guess we keep on saving!!

[Jared&Maggie'smom]

Dave Ramsey's thing is to get $1000 in an emergency fund and then pay off all debt except your house. At that point then get 3-6 months of living expenses saved up. He'd rather see people getting rid of their debt faster so that they aren't paying interest.....

[Rookie]

Right now it's paychecl to paycheck...sometimes with a little praying in between.

But things are looking up and we are trying to get money saved up. With the wedding and then me being out of work any and all wiggle room got wiggled away.

But when I finally win this Work Comp appeal we will be putting at least $10k of it into savings!!!!!!!

[stacia]

Every time we get alot saved up something big happens and we have to use it. We also have the high cc balance that we don't use and the equity in our home that is open to us, so for a large $$$ emergency we have that. For a small emergency we have money in our checking and savings accounts. We are working on getting our savings back up to what it should be!

[momma2boys]

Almost five years of marriage, and dh finally opened the savings account that I've been begging to have for years! We now have $500.00 put away, and hopefully (if I can convince dh!) we will be adding to it

Erin

[Missystuy]

NOpe, I know I should, but I don't. I can never find theextra money to do that with.