Debt Free, Emergency Fund, Money Management

Building An Emergency Fund – Where Do I Keep It?

As I mentioned in my recent post about what to do after getting out of debt, I like the idea of having an emergency fund.  After  a series of super-secret mathematical calculations – I pulled a number from a hat – and decided that $16,000 would be a good amount to have in ours. Where do I keep our emergency fund? Online Savings Account – $14,000 Online Interest Bearing Checking Account – $1,500 Cash In My Pocket – $500 (Currently, our online savings account is with ING DIRECT.  Open your account online today. No fees and no minimums!) I like the idea of having some cash on me, at all times.  I also like to keep some money in a…

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