UnThreaded | Threaded | Whole Thread (28) | Ignore Thread Prev | Next
Author: Windowseat Big funky green star, 20000 posts Feste Award Nominee! Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 308674  
Subject: Re: E-fund disasters: what's yours? Date: 7/30/2007 7:30 PM
Post New | Post Reply | Reply Later | Create Poll . Report this Post | Recommend it!
Recommendations: 0
What's the worst thing that ever happened to your e-fund?

I realize I'm a bit late to this thread.

I've had a number of e-fund problems, including exploratory surgery on the cat and a brake job on the car. There was also the time I was on short-term disability while recuperating from surgery, and Cigna took several weeks to send a check. The e-fund paid the rent while I was on hold with Cigna. That was probably the worst hit the fund took, because I had to pay two month's worth of utilities and rent from the e-fund.

When I went through a long period of unemployment, the e-fund helped pay COBRA.

The best thing the e-fund has given me is the ability to sleep at night, and not lie awake wondering how I would pay a crucial bill. I know the general advice is to keep the e-fund at $1,000 while paying down debt. I'd make that one month's bare bones expenses. (Housing + utilities + COBRA and/or deductible on insurance). But that's just me.

We've had a number of posters on this board who insisted that having any e-fund whatsoever while paying down debt is stupid, because it's better to just keep shoving unexpected expenses on the credit cards at 13%, and still others who insisted that any e-fund, ever, at any time, was ridiculous, because what you do with extra money is invest it. Then, when you suddenly need to pay for COBRA or the mortgage, or the deductible on the car, you sell some of your stock. I couldn't live that way.

Nancy
Post New | Post Reply | Reply Later | Create Poll . Report this Post | Recommend it!
Print the post  
UnThreaded | Threaded | Whole Thread (28) | Ignore Thread Prev | Next

Announcements

TMF Credit Center
The Motley Fool Credit Center arms you with real tools and simple messages, that will help you in every credit situation.
Pencils of Promise - Back to School Drive
"Pencils of Promise works with communities across the globe to build schools and create programs that provide education opportunities for children."
Managing Your Wealth
Our own TMFHockeypop from Rule Your Retirement fame on the TV show Managing Your Wealth.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
Community Home
Speak Your Mind, Start Your Blog, Rate Your Stocks

Community Team Fools - who are those TMF's?
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and "#1 Media Company to Work For" (BusinessInsider 2011)! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.
Advertisement