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Emergency Fund

January 4th, 2007 at 11:54 am

I had $240.00 left from last weeks check, will put that towards an emergency fund account. I have a checking and savings in the town that my mother lives in, (we co-own a small business there, we are going into our second year, so hopefully will show some profit this year!) I will put my money there for awhile.

2 Responses to “Emergency Fund”

  1. disneysteve Says:

    It's great that you are building your EF. I would just suggest checking the interest rate on that savings account. If it isn't at least 5%, you should really consider one of the high-yield accounts like Emigrant or AmTrust or HSBC. There's a list here:http://www.savingadvice.com/forums/showthread.php?t=19240

  2. LuxLiving Says:

    Yeah YOU!!

    I like the idea of another town as well. For the longest time when I couldn't keep out of the $$'s I put my savings into a CU in the town my Dad lives in. I visited there about 8-9 times a year and it was only an hour away in the direst of emergencies, made Dad a joint owner so we could get at it if we really needed it. Of course this was BACK IN THE DAY when banks and CU's were old-school and we didn't have computers....but I could mail my deposits to them. It Worked!

    Good luck on your business venture!
    Listen to disney-steve, make sure wherever you're stashing it pays you a decent rate - 4-6% are the goingist rates for higher end interest these days.

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