Comments on: There are no needs for an emergency fund http://www.thefinancialblogger.com/there-are-no-needs-for-an-emergency-fund/ This is where your finance takes place Tue, 07 Oct 2008 09:55:15 +0000 http://wordpress.org/?v=abc By: I Think This is BAD Money Advice http://www.thefinancialblogger.com/there-are-no-needs-for-an-emergency-fund/#comment-2062 I Think This is BAD Money Advice Sat, 15 Mar 2008 18:05:21 +0000 http://www.thefinancialblogger.com/there-are-no-needs-for-an-emergency-fund/#comment-2062 [...] really bad part is this blogger is not alone with this idea of using a HELoC instead of a cash emergency fund.  Some bloggers are not as specific about using credit instead of an emergency fund, but the idea [...] [...] really bad part is this blogger is not alone with this idea of using a HELoC instead of a cash emergency fund.  Some bloggers are not as specific about using credit instead of an emergency fund, but the idea [...]

]]> By: Reasons Why Your HELOC Can Be Your Emergency Fund http://www.thefinancialblogger.com/there-are-no-needs-for-an-emergency-fund/#comment-1905 Reasons Why Your HELOC Can Be Your Emergency Fund Tue, 26 Feb 2008 10:04:33 +0000 http://www.thefinancialblogger.com/there-are-no-needs-for-an-emergency-fund/#comment-1905 [...] other posts on this topic: Mr. Cheap is a fan of line of credits The Financial Blogger says that cash emergency funds are wasteful. The Money Gardener explains why he doesn’t like [...] [...] other posts on this topic: Mr. Cheap is a fan of line of credits The Financial Blogger says that cash emergency funds are wasteful. The Money Gardener explains why he doesn’t like [...]

]]> By: Thicken My Wallet » Blog Archive » To Emergency Fund or not to Emergency Fund? http://www.thefinancialblogger.com/there-are-no-needs-for-an-emergency-fund/#comment-699 Thicken My Wallet » Blog Archive » To Emergency Fund or not to Emergency Fund? Thu, 04 Oct 2007 10:01:11 +0000 http://www.thefinancialblogger.com/there-are-no-needs-for-an-emergency-fund/#comment-699 [...] on why I am so pro emergency fund. Financial Blogger wrote on the flip side of this argument on why there is no need for an emergency fund. I don’t believe the argument is fundamentally wrong. It really comes down to what life [...] [...] on why I am so pro emergency fund. Financial Blogger wrote on the flip side of this argument on why there is no need for an emergency fund. I don’t believe the argument is fundamentally wrong. It really comes down to what life [...]

]]> By: The Financial Blogger http://www.thefinancialblogger.com/there-are-no-needs-for-an-emergency-fund/#comment-692 The Financial Blogger Wed, 03 Oct 2007 00:26:10 +0000 http://www.thefinancialblogger.com/there-are-no-needs-for-an-emergency-fund/#comment-692 Hey Ted, You should ask to broke people how they got broke; some of them might have great advice to give to you anyway ;-) Many, the 0% apr is a great idea! it's pretty cheap and very effective! Hey Ted,
You should ask to broke people how they got broke; some of them might have great advice to give to you anyway ;-)

Many, the 0% apr is a great idea! it’s pretty cheap and very effective!

]]> By: manu singh http://www.thefinancialblogger.com/there-are-no-needs-for-an-emergency-fund/#comment-687 manu singh Tue, 02 Oct 2007 16:50:38 +0000 http://www.thefinancialblogger.com/there-are-no-needs-for-an-emergency-fund/#comment-687 I like the idea . But i will still keep 2 month of expenses in savings account . i have faced unexpected expenses couple of times . In those situation i signed up for 0% apr offer on purchases and balance transfer and carried balance and paid off after few months . To use the credit card strategy you need a good credit history though . I like the idea . But i will still keep 2 month of expenses in savings account . i have faced unexpected expenses couple of times . In those situation i signed up for 0% apr offer on purchases and balance transfer and carried balance and paid off after few months . To use the credit card strategy you need a good credit history though .

]]> By: Ted Valentine http://www.thefinancialblogger.com/there-are-no-needs-for-an-emergency-fund/#comment-683 Ted Valentine Tue, 02 Oct 2007 14:22:46 +0000 http://www.thefinancialblogger.com/there-are-no-needs-for-an-emergency-fund/#comment-683 My grandma always told me "don't take financial advice from broke people." I love my grandma. My grandma always told me “don’t take financial advice from broke people.” I love my grandma.

]]> By: Everyday Finance http://www.thefinancialblogger.com/there-are-no-needs-for-an-emergency-fund/#comment-681 Everyday Finance Tue, 02 Oct 2007 00:53:29 +0000 http://www.thefinancialblogger.com/there-are-no-needs-for-an-emergency-fund/#comment-681 I think it depends on the amount you hold. I think 6 months is overkill, especially given the various options of lower liquidity which wouldn't take a full 6 months to attain. However, I know a lot of people that live month to month and they get burned, have to mooch off parents, etc as adults when the unexpected happens. I can't tell you how many times, I've been able to save a good deal of money by offering to use cash or write a check on the spot if credit card isn't accepted. I always hold about 2 months worth in the event of job loss, unexpected financial events, etc. If anything, it's partial diversification so I don't have 100% tied up in equities, right? I haven't gotten around to it, but I'll have to do a post soon on a recent win with a furniture dealer where this saved me a several hundred bucks. Dan at edf. I think it depends on the amount you hold. I think 6 months is overkill, especially given the various options of lower liquidity which wouldn’t take a full 6 months to attain. However, I know a lot of people that live month to month and they get burned, have to mooch off parents, etc as adults when the unexpected happens. I can’t tell you how many times, I’ve been able to save a good deal of money by offering to use cash or write a check on the spot if credit card isn’t accepted. I always hold about 2 months worth in the event of job loss, unexpected financial events, etc. If anything, it’s partial diversification so I don’t have 100% tied up in equities, right? I haven’t gotten around to it, but I’ll have to do a post soon on a recent win with a furniture dealer where this saved me a several hundred bucks.

Dan at edf.

]]> By: The Financial Blogger http://www.thefinancialblogger.com/there-are-no-needs-for-an-emergency-fund/#comment-675 The Financial Blogger Mon, 01 Oct 2007 17:42:07 +0000 http://www.thefinancialblogger.com/there-are-no-needs-for-an-emergency-fund/#comment-675 Finance Buff, in fact, you can get a personal line of credit for P+2 or P+3 in Canada, I don't know about the states. It is obvious that the best case is to get a Home Equity Line of Credit. But the personal loc would work just fine. Finance Buff,
in fact, you can get a personal line of credit for P+2 or P+3 in Canada, I don’t know about the states. It is obvious that the best case is to get a Home Equity Line of Credit. But the personal loc would work just fine.

]]> By: The Finance Buff http://www.thefinancialblogger.com/there-are-no-needs-for-an-emergency-fund/#comment-674 The Finance Buff Mon, 01 Oct 2007 17:25:30 +0000 http://www.thefinancialblogger.com/there-are-no-needs-for-an-emergency-fund/#comment-674 When you line of credit, do you mean home equity line of credit? If that's the case, only homeowners can have a HELOC. If you don't own a home, tough luck. Unsecured personal line of credit is pretty expensive, close to credit card rates. It's like saying your credit cards are your emergency funds. When you line of credit, do you mean home equity line of credit? If that’s the case, only homeowners can have a HELOC. If you don’t own a home, tough luck. Unsecured personal line of credit is pretty expensive, close to credit card rates. It’s like saying your credit cards are your emergency funds.

]]> By: Carnival of Personal Finance » Carnival of Personal Finance #120 http://www.thefinancialblogger.com/there-are-no-needs-for-an-emergency-fund/#comment-673 Carnival of Personal Finance » Carnival of Personal Finance #120 Mon, 01 Oct 2007 17:06:42 +0000 http://www.thefinancialblogger.com/there-are-no-needs-for-an-emergency-fund/#comment-673 [...] There are No Needs for an Emergency Fund [...] [...] There are No Needs for an Emergency Fund [...]

]]>