Comments on No More Spending.net: Never reaching my emergency fund goal

I'm the same, I have put $1000 aside for Emergency...

2009-01-16T06:28:00.000Z

I'm the same, I have put $1000 aside for Emergency Funds several times but I just end up paying it off debt. It just seems a waste sitting there, I probably 'should' have an EF, given we've had a few, but I desperately want the debt gone ASAP.

I was sure I commented here but I can't find it. I...

2009-01-14T20:12:00.000Z

I was sure I commented here but I can't find it. I was like that too when I was paying off debt, then I started to want the emerg fund to have 3 months expenses, so I did a more 50/50 route. Well done re the snowflake!

I actually went 50-50 with my debts, so by the tim...

2009-01-12T14:24:00.000Z

I actually went 50-50 with my debts, so by the time I paid off $20,000 in debt I also had $20,000 in savings. I don't know the right way, it worked for me and I'm a big proponent of doing what works. But I do think you need at least a minimum EF, Mike's idea is great.

Hi there-Mikes idea is good to use your snowflake ...

2009-01-12T08:41:00.000Z

Hi there-Mikes idea is good to use your snowflake money for an emergency fund. I nearly used mine for debts in a mad moment last week, but was pleased I didn't in the end! Good luck with reaching a plan that works for you!

It's probably worked well up until now because you...

2009-01-11T23:51:00.000Z

It's probably worked well up until now because you haven't had an emergency. What if you have an emergency? A car dies, someone gets really sick or injured, an appliance breaks, what will you do then? You would be forced to rely on your credit and build that debt back up again.

It may seem like you have better use for you money than putting it in an emergency fund, but you've got to plan for an emergency.

You mentioned snowflaking - so why not snowflake yourself an emergency fund?! Build that up with those little deposits and your debt won't suffer because it's extra "found" money.