One of my goals for 2008 is to rebuild my non-retirement savings. In 2007, we purchased a new-to-us minivan and in early 2008, we had a new baby (and purchased several baby-related items). These expenses worked together to dramatically reduce our non-retirement savings and I’ve been working diligently to rebuild them. I just made a transfer from my primary checking…
Category: Emergency Fund
Real Life Example Of Why You Need An Emergency Fund
My wife is an educator. She recently gave birth to our third child, a baby girl. Mommy and baby are doing great. Our older kids are adjusting and they are having so much fun, learning to feed and hold the new baby. The timing of the birth worked out great. My wife will be home until school lets out in…
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…