Comments on: The Evolution of Our Emergency Fund http://www.bloggingawaydebt.com/2007/10/the-evolution-of-our-emergency-fund/ Our Journey to a Debt-Free Life Sun, 21 Mar 2010 12:23:03 -0700 http://wordpress.org/?v=2.8.4 hourly 1 By: Emergency Fund Update = $1,500 » Blogging Away Debt http://www.bloggingawaydebt.com/2007/10/the-evolution-of-our-emergency-fund/comment-page-1/#comment-184985 Emergency Fund Update = $1,500 » Blogging Away Debt Fri, 26 Oct 2007 03:06:30 +0000 http://www.bloggingawaydebt.com/2007/10/the-evolution-of-our-emergency-fund/#comment-184985 [...] Mark: Here is the link, it is long, but I don’t know how to link to it,... [...] [...] Mark: Here is the link, it is long, but I don’t know how to link to it,… [...]

]]> By: Mark http://www.bloggingawaydebt.com/2007/10/the-evolution-of-our-emergency-fund/comment-page-1/#comment-184147 Mark Thu, 25 Oct 2007 15:37:43 +0000 http://www.bloggingawaydebt.com/2007/10/the-evolution-of-our-emergency-fund/#comment-184147 <p>Here is the link, it is long, but I don't know how to link to it, just paste it.</p> <p><a href="http://msn.careerbuilder.com/custom/msn/careeradvice/viewarticle.aspx?articleid=1112&SiteId=cbmsnhp41112&sc_extcmp=JS_1112_home1&GT1=10466&cbRecursionCnt=1&cbsid=f47bffe314f14ca8b4e821d7f3aad277-246617801-TD-4" rel="nofollow">MSN Article</a></p> [EDIT] I fixed it, Mark. Thanks again for the article! Here is the link, it is long, but I don’t know how to link to it, just paste it.

MSN Article

[EDIT] I fixed it, Mark. Thanks again for the article!

]]> By: Tricia http://www.bloggingawaydebt.com/2007/10/the-evolution-of-our-emergency-fund/comment-page-1/#comment-184141 Tricia Thu, 25 Oct 2007 15:31:03 +0000 http://www.bloggingawaydebt.com/2007/10/the-evolution-of-our-emergency-fund/#comment-184141 Hi Mark - thanks for the info! I'll have to check out that article. Hi Mark – thanks for the info! I’ll have to check out that article.

]]> By: Mark http://www.bloggingawaydebt.com/2007/10/the-evolution-of-our-emergency-fund/comment-page-1/#comment-184112 Mark Thu, 25 Oct 2007 15:12:23 +0000 http://www.bloggingawaydebt.com/2007/10/the-evolution-of-our-emergency-fund/#comment-184112 There was good article on MSN today about part-time jobs that provide health benefits. It seems like something your husband should consider if any of these businesses are in your area. The businesses listed included Target, Circuit City, Starbucks, Barnes & Noble, Lowes, and JCPenney. It could do two things, 1) increase your household income, and 2) eliminate the health insurance payment. I am not telling you what to do, just throwing out an idea that may have not been considered. There was good article on MSN today about part-time jobs that provide health benefits. It seems like something your husband should consider if any of these businesses are in your area.

The businesses listed included Target, Circuit City, Starbucks, Barnes & Noble, Lowes, and JCPenney.

It could do two things, 1) increase your household income, and 2) eliminate the health insurance payment. I am not telling you what to do, just throwing out an idea that may have not been considered.

]]> By: Tricia http://www.bloggingawaydebt.com/2007/10/the-evolution-of-our-emergency-fund/comment-page-1/#comment-182361 Tricia Tue, 23 Oct 2007 21:29:27 +0000 http://www.bloggingawaydebt.com/2007/10/the-evolution-of-our-emergency-fund/#comment-182361 We are now paying a little over $400/month (we both passed the big 3-0 since we first started the plan so our rates increased). Our insurance is through Blue Cross Blue Shield of Michigan. It's their Individual Blue program. It doesn't cover office visits but they cover 70% of a lot of services (for example, they cover childbirth, but not prenatal care). The deductible is $2,500. I remember the days where my husband had a job where we didn't pay a dime for our insurance and everything was covered 100%! But the job moved away, and we couldn't afford to follow (I was pregnant with our son at the time). We paid for Cobra to keep the insurance going until my son was born (almost $800/month). It was worth it to keep it going because we didn't have to pay anything for my son's birth. *sigh* I wonder if anyone out there has insurance like that anymore. We are now paying a little over $400/month (we both passed the big 3-0 since we first started the plan so our rates increased).

Our insurance is through Blue Cross Blue Shield of Michigan. It’s their Individual Blue program. It doesn’t cover office visits but they cover 70% of a lot of services (for example, they cover childbirth, but not prenatal care). The deductible is $2,500.

I remember the days where my husband had a job where we didn’t pay a dime for our insurance and everything was covered 100%! But the job moved away, and we couldn’t afford to follow (I was pregnant with our son at the time). We paid for Cobra to keep the insurance going until my son was born (almost $800/month). It was worth it to keep it going because we didn’t have to pay anything for my son’s birth.

*sigh*

I wonder if anyone out there has insurance like that anymore.

]]> By: Jaye http://www.bloggingawaydebt.com/2007/10/the-evolution-of-our-emergency-fund/comment-page-1/#comment-182340 Jaye Tue, 23 Oct 2007 21:07:42 +0000 http://www.bloggingawaydebt.com/2007/10/the-evolution-of-our-emergency-fund/#comment-182340 Chris, I wondered the same thing. We were paying nearly 20K per year for our family of 5. My husband went to work for Staples, which has good benefits. Whew. Chris, I wondered the same thing. We were paying nearly 20K per year for our family of 5. My husband went to work for Staples, which has good benefits. Whew.

]]> By: Chris http://www.bloggingawaydebt.com/2007/10/the-evolution-of-our-emergency-fund/comment-page-1/#comment-182024 Chris Tue, 23 Oct 2007 14:02:55 +0000 http://www.bloggingawaydebt.com/2007/10/the-evolution-of-our-emergency-fund/#comment-182024 What health insurance is that?? I pay almost $1,000 a month just for my wife and I. What health insurance is that?? I pay almost $1,000 a month just for my wife and I.

]]> By: Jaye http://www.bloggingawaydebt.com/2007/10/the-evolution-of-our-emergency-fund/comment-page-1/#comment-181995 Jaye Tue, 23 Oct 2007 12:40:18 +0000 http://www.bloggingawaydebt.com/2007/10/the-evolution-of-our-emergency-fund/#comment-181995 I think you should follow your instincts! I know only too well that having only $1000 in an emergency fund can be very stressful. My husband and I used to be self-employed and health insurance (among other things) was brutally expensive. Now that you're moving, have you thought about one of you taking a part-time job that will give your family benefits? There are companies like Starbucks that offer good benefits to its employees who work 20 hours. Not that it's any of my business! It's just that it helped us so much to not have to make those monthly payments. Good luck. I think you should follow your instincts! I know only too well that having only $1000 in an emergency fund can be very stressful.

My husband and I used to be self-employed and health insurance (among other things) was brutally expensive. Now that you’re moving, have you thought about one of you taking a part-time job that will give your family benefits? There are companies like Starbucks that offer good benefits to its employees who work 20 hours. Not that it’s any of my business! It’s just that it helped us so much to not have to make those monthly payments. Good luck.

]]> By: Jaye http://www.bloggingawaydebt.com/2007/10/the-evolution-of-our-emergency-fund/comment-page-1/#comment-181996 Jaye Tue, 23 Oct 2007 12:40:03 +0000 http://www.bloggingawaydebt.com/2007/10/the-evolution-of-our-emergency-fund/#comment-181996 I think you should follow your instincts! I know only too well that having only $1000 in an emergency fund can be very stressful. My husband and I used to be self-employed and health insurance (among other things) was brutally expensive. Now that you're moving, have you thought about one of you taking a part-time job that will give your family benefits? There are companies like Starbucks that offer good benefits to its employees who work 20 hours. Not that it's any of my business! It's just that it helped us so much to not have to make those monthly payments. Good luck. I think you should follow your instincts! I know only too well that having only $1000 in an emergency fund can be very stressful.

My husband and I used to be self-employed and health insurance (among other things) was brutally expensive. Now that you’re moving, have you thought about one of you taking a part-time job that will give your family benefits? There are companies like Starbucks that offer good benefits to its employees who work 20 hours. Not that it’s any of my business! It’s just that it helped us so much to not have to make those monthly payments. Good luck.

]]> By: HS http://www.bloggingawaydebt.com/2007/10/the-evolution-of-our-emergency-fund/comment-page-1/#comment-181987 HS Tue, 23 Oct 2007 12:21:41 +0000 http://www.bloggingawaydebt.com/2007/10/the-evolution-of-our-emergency-fund/#comment-181987 It is so hard to save!! I have three savings accounts and trying to reach 1000 on each. For saving I try to set goals, like 100 this week and then I add that to the accounts. Money is so easy to spend, yet so hard to save. It is so hard to save!! I have three savings accounts and trying to reach 1000 on each. For saving I try to set goals, like 100 this week and then I add that to the accounts.

Money is so easy to spend, yet so hard to save.

]]> By: Fabulously Broke http://www.bloggingawaydebt.com/2007/10/the-evolution-of-our-emergency-fund/comment-page-1/#comment-181504 Fabulously Broke Mon, 22 Oct 2007 22:55:21 +0000 http://www.bloggingawaydebt.com/2007/10/the-evolution-of-our-emergency-fund/#comment-181504 Thanks for the inspiration... I just recently decided to overhaul our Emergency Fund, and after clearing it with Husband (this weekend maybe?) it's going to make me feel better in the long run to have a nice fat cushion. Thanks for the inspiration…

I just recently decided to overhaul our Emergency Fund, and after clearing it with Husband (this weekend maybe?) it’s going to make me feel better in the long run to have a nice fat cushion.

]]> By: Da Big D http://www.bloggingawaydebt.com/2007/10/the-evolution-of-our-emergency-fund/comment-page-1/#comment-181453 Da Big D Mon, 22 Oct 2007 21:03:58 +0000 http://www.bloggingawaydebt.com/2007/10/the-evolution-of-our-emergency-fund/#comment-181453 If you don't have an emergancy fund and need it, you will only go deeper into debt. I agree with what Rob in Madris said, you had it, you used it, you didn't create debt. Good job, keep it up! If you don’t have an emergancy fund and need it, you will only go deeper into debt. I agree with what Rob in Madris said, you had it, you used it, you didn’t create debt. Good job, keep it up!

]]> By: Rob in Madrid http://www.bloggingawaydebt.com/2007/10/the-evolution-of-our-emergency-fund/comment-page-1/#comment-181412 Rob in Madrid Mon, 22 Oct 2007 20:40:19 +0000 http://www.bloggingawaydebt.com/2007/10/the-evolution-of-our-emergency-fund/#comment-181412 If you think about what you wrote, we had an emergency fund but it got depleated. That is the whole point, you didn't have to use credit cards. Of course idea is not to have to touch it but life has at time different ideas. It's a struggle my wife and I have had as well, pay debt off or put money in the bank. And then the old stand by, how not to spend. If you think about what you wrote, we had an emergency fund but it got depleated. That is the whole point, you didn’t have to use credit cards. Of course idea is not to have to touch it but life has at time different ideas.

It’s a struggle my wife and I have had as well, pay debt off or put money in the bank. And then the old stand by, how not to spend.

]]> By: Mar http://www.bloggingawaydebt.com/2007/10/the-evolution-of-our-emergency-fund/comment-page-1/#comment-181411 Mar Mon, 22 Oct 2007 20:39:36 +0000 http://www.bloggingawaydebt.com/2007/10/the-evolution-of-our-emergency-fund/#comment-181411 Either way, you are increasing your net worth and having money on hand in case you do move is a really good thing to have. Wise decision. Either way, you are increasing your net worth and having money on hand in case you do move is a really good thing to have. Wise decision.

]]> By: Cheryl http://www.bloggingawaydebt.com/2007/10/the-evolution-of-our-emergency-fund/comment-page-1/#comment-181408 Cheryl Mon, 22 Oct 2007 20:35:27 +0000 http://www.bloggingawaydebt.com/2007/10/the-evolution-of-our-emergency-fund/#comment-181408 I know how hard it is to choose between throwing sxtra $$ at debt, or building the E fund, but isn't it nice to know there is money sitting there "just in case"?? I know how hard it is to choose between throwing sxtra $$ at debt, or building the E fund, but isn’t it nice to know there is money sitting there “just in case”??

]]> By: Chief Family Officer http://www.bloggingawaydebt.com/2007/10/the-evolution-of-our-emergency-fund/comment-page-1/#comment-181379 Chief Family Officer Mon, 22 Oct 2007 19:45:06 +0000 http://www.bloggingawaydebt.com/2007/10/the-evolution-of-our-emergency-fund/#comment-181379 I think that makes a lot of sense, particularly because you're not accruing any interest on your credit card debit right now, if I recall correctly. If you end up not needing the money for the move, then you can apply it towards your debt and you'll actually come out ahead (having earned interest). (Sorry if this posts twice. I got an error message the first time.) I think that makes a lot of sense, particularly because you’re not accruing any interest on your credit card debit right now, if I recall correctly. If you end up not needing the money for the move, then you can apply it towards your debt and you’ll actually come out ahead (having earned interest).

(Sorry if this posts twice. I got an error message the first time.)

]]> By: Melissa http://www.bloggingawaydebt.com/2007/10/the-evolution-of-our-emergency-fund/comment-page-1/#comment-181378 Melissa Mon, 22 Oct 2007 19:43:21 +0000 http://www.bloggingawaydebt.com/2007/10/the-evolution-of-our-emergency-fund/#comment-181378 I think you are making a wise decision. Although it may feel like you are losing ground on paying off that debt, by building up that fund you are actually enabling yourself to avoid additional debt. I think you are making a wise decision. Although it may feel like you are losing ground on paying off that debt, by building up that fund you are actually enabling yourself to avoid additional debt.

]]> By: Mr. Debtbeater http://www.bloggingawaydebt.com/2007/10/the-evolution-of-our-emergency-fund/comment-page-1/#comment-181377 Mr. Debtbeater Mon, 22 Oct 2007 19:42:37 +0000 http://www.bloggingawaydebt.com/2007/10/the-evolution-of-our-emergency-fund/#comment-181377 I think our emergency fund is starting out as something that's almost depleted every month and will eventually stablize into something that we don't have to touch so often. I think it's a natural reflection of your financial progression. (well, at least I hope so. cuz digging into it every month before it can grow very much sure gets frustrating) I agree with the decision to beef it up until you know what you're going to do though. You've obviously got a proven track record with working the debt down, so give yourself a safety buffer until you know your plans for the time being. I think our emergency fund is starting out as something that’s almost depleted every month and will eventually stablize into something that we don’t have to touch so often. I think it’s a natural reflection of your financial progression. (well, at least I hope so. cuz digging into it every month before it can grow very much sure gets frustrating)

I agree with the decision to beef it up until you know what you’re going to do though. You’ve obviously got a proven track record with working the debt down, so give yourself a safety buffer until you know your plans for the time being.

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