Comments on: Day 22 of 33 Days And 33 Ways To Save Money And Reduce Debt: The Emergency Fund http://www.ncnblog.com/2007/09/28/day-22-of-33-days-and-33-ways-to-save-money-and-reduce-debt-the-emergency-fund/ Debt Reduction Rocks - We Are Living Debt Free! Fri, 10 Feb 2012 00:09:10 +0000 hourly 1 By: Achieving Financial Goals – The Process Remains The Same » No Credit Needed - Debt Reduction Rocks – We Are Living Debt Free! http://www.ncnblog.com/2007/09/28/day-22-of-33-days-and-33-ways-to-save-money-and-reduce-debt-the-emergency-fund/comment-page-1/#comment-215188 Achieving Financial Goals – The Process Remains The Same » No Credit Needed - Debt Reduction Rocks – We Are Living Debt Free! Tue, 25 Jan 2011 04:54:54 +0000 http://www.ncnblog.com/2007/09/28/day-22-of-33-days-and-33-ways-to-save-money-and-reduce-debt-the-emergency-fund/#comment-215188 [...] plan that I put in place may call for some actions not directly related to debt reduction (say, saving up for an emergency fund), but my goal – and my focus – will remain the [...] [...] plan that I put in place may call for some actions not directly related to debt reduction (say, saving up for an emergency fund), but my goal – and my focus – will remain the [...]

]]> By: Reevaluating Our Emergency Fund | One Caveman's Financial Journey http://www.ncnblog.com/2007/09/28/day-22-of-33-days-and-33-ways-to-save-money-and-reduce-debt-the-emergency-fund/comment-page-1/#comment-112071 Reevaluating Our Emergency Fund | One Caveman's Financial Journey Thu, 29 May 2008 19:10:25 +0000 http://www.ncnblog.com/2007/09/28/day-22-of-33-days-and-33-ways-to-save-money-and-reduce-debt-the-emergency-fund/#comment-112071 [...] NCN of No Credit Needed started at $1,000 and moved on to $20,000. [...] [...] NCN of No Credit Needed started at $1,000 and moved on to $20,000. [...]

]]> By: Myself http://www.ncnblog.com/2007/09/28/day-22-of-33-days-and-33-ways-to-save-money-and-reduce-debt-the-emergency-fund/comment-page-1/#comment-47172 Myself Tue, 06 Nov 2007 19:51:05 +0000 http://www.ncnblog.com/2007/09/28/day-22-of-33-days-and-33-ways-to-save-money-and-reduce-debt-the-emergency-fund/#comment-47172 http://www.ncnblog.com/2007/09/28/day-22-of-33-days-and-33-ways-to-save-money-and-reduce-debt-the-emergency-fund/ Well, that's a little foolish to not worry about the savings rate. After all, if the emergency fund is just sitting there, it could be earning 5.05%/yr at EmigrantDirect (or more in other places). Compare that to earning 0.75% (yes below 1%) at my local bank (unless you put in $50,000 or more, where it would go up to a "huge" 2.2%). As an example, there's a little chart on Wikipedia (http://en.wikipedia.org/wiki/Rule_of_72), that shows that using the rule of 72, 1%/yr would take 72 years to double, but 5%/yr would only take 14 years to double. Personally, I'd rather wait only 14 years (or less) to get double my money, than to wait a lifetime. http://www.ncnblog.com/2007/09/28/day-22-of-33-days-and-33-ways-to-save-money-and-reduce-debt-the-emergency-fund/

Well, that’s a little foolish to not worry about the savings rate.
After all, if the emergency fund is just sitting there, it could be earning 5.05%/yr at EmigrantDirect (or more in other places).
Compare that to earning 0.75% (yes below 1%) at my local bank (unless you put in $50,000 or more, where it would go up to a “huge” 2.2%).
As an example, there’s a little chart on Wikipedia (http://en.wikipedia.org/wiki/Rule_of_72), that shows that using the rule of 72, 1%/yr would take 72 years to double, but 5%/yr would only take 14 years to double.
Personally, I’d rather wait only 14 years (or less) to get double my money, than to wait a lifetime.

]]> By: Amanda http://www.ncnblog.com/2007/09/28/day-22-of-33-days-and-33-ways-to-save-money-and-reduce-debt-the-emergency-fund/comment-page-1/#comment-40056 Amanda Wed, 17 Oct 2007 12:11:42 +0000 http://www.ncnblog.com/2007/09/28/day-22-of-33-days-and-33-ways-to-save-money-and-reduce-debt-the-emergency-fund/#comment-40056 Hi NCN, I've found your blog to be pretty inspirational overall. I reference you in my post for today where I encourage my friends to start an emergency fund. Just wanted to say thanks! A Hi NCN,

I’ve found your blog to be pretty inspirational overall. I reference you in my post for today where I encourage my friends to start an emergency fund. Just wanted to say thanks!

A

]]> By: Velvet Jones http://www.ncnblog.com/2007/09/28/day-22-of-33-days-and-33-ways-to-save-money-and-reduce-debt-the-emergency-fund/comment-page-1/#comment-37919 Velvet Jones Wed, 10 Oct 2007 23:53:03 +0000 http://www.ncnblog.com/2007/09/28/day-22-of-33-days-and-33-ways-to-save-money-and-reduce-debt-the-emergency-fund/#comment-37919 It only took you several months to save $20k? Wow. It only took you several months to save $20k? Wow.

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