Many popular personal finance ‘gurus’ suggest maintaining an emergency fund with enough money to cover 6 months worth of expenses. I thought it might be interesting to see what my readers thought about this advice. If you are reading this post in a feed-reader, you will need to click through in order to leave a comment and vote in the poll.
Now that you’ve voted, a few questions –
Question 1: Where do you keep you emergency fund? In a savings account, money market, checking account, or under the mattress?
Question 2: What about six months worth of expenses? Is this too much… or too little?
Question 3: Would you sacrifice a fully-funded emergency fund in order to fully-fund a Roth IRA (or other retirement / education savings account)?
Question 4: What is the smallest emergency fund with which you wold be comfortable?
Thank you for your participation. Your answers will help me write a future post. If you are a blogger and you write a post about this subject, click the contact button at the top of this page and let me know about it. I’ll be more than happy to link to your post.