Category Archives: Emergency Fund
Reader Poll: Short-Term Savings
I’m interested in knowing, “How much money do you keep in short-term savings?”, but the more I think about that question, the more difficult it becomes to define “short-term savings”. So, I’m asking you to do two things. First, take a second to answer the poll question and second, leave a comment and let me [...]
Guest Author Big Honkin Speaks: The Value Of Having An Emergency Fund (And The Tragedy Of Not Having One)
Big Honkin (who recently introduced himself to readers of No Credit Needed) has written an article about the value of having and Emergency Fund. Big Honkin is a “real life” friend of mine and he’s just started to get out of debt and organize his finances. I think you’ll enjoy Big Honkin’s article and you [...]
Dissecting Dave Ramsey’s Baby Steps: Baby Step 1
I’ve been listening to Dave Ramsey’s radio program for more than five years. I’ve attended his Total Money Makeover Live Event. I’ve read all of his books, including The Total Money Makeover: A Proven Plan for Financial Fitness and Financial Peace Revisited. I’ve watched his DVDs and I’ve listened to his CD’s. In other words, [...]
Using My Emergency Fund To Buy A Car (How To Buy A $10,000 Car For $7800!)
By the end of 2007, I plan to have $20,000 in my emergency fund. (Remember, I “borrowed” some money from my Emergency Fund so that I could fully-fund my Roth IRA’s for 2006. I am in process of “paying myself back”.) Since I’ve been thinking about purchasing a “new” car, I started thinking about how [...]
