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Rob, I wasn't aware that a credit union would do that, but it sounds like it really helped.

I talk about making sure an emergency fund is safe and liquid. I talk about convenience. But, as you discovered, there really is such a thing as having it too convenient.

The DBA I mentioned earlier today as having his emergency fund in a ladder of CDs (6 6-month CDs, each maturing a month after the previous CD) has his CDs in an out-of-state bank to purposely make it inconvenient to use.

One of the programmers at work has a money market account at the same creidt union where I have my money market account. Like me, he was using it as his emergency fund. Unlike me, he was dipping into it for taking his wife out for dinner and for other non-emergency purposes. He gave up the idea of using that account for an emergency fund and ended up getting a money market fund at a brokerage out of the state, no web access, no check writing privileges. He said that if he needs the money, he has to call the brokerage and ask that they cut a check.

People are so different that generally generalizations are risky.
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