Comments on: Emergency Fund Versus Getting Out of Debt? http://www.onemoneydesign.com/emergency-fund-versus-getting-out-of-debt/ True Financial Freedom Wed, 08 Feb 2012 21:15:02 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: Jason Price http://www.onemoneydesign.com/emergency-fund-versus-getting-out-of-debt/comment-page-1/#comment-10688 Jason Price Wed, 23 Jun 2010 21:44:09 +0000 http://onemoneydesign.com/blog/?p=7103#comment-10688 Khaleef, have you paid off any credit card related debt? I would also consider how quickly you can build the 1 month's living expense. If it's going to take you years you may choose to still work on some debt. But, as I mentioned in the article, I like the idea of having 1 month's living expenses set aside as quickly as possible. Khaleef, have you paid off any credit card related debt? I would also consider how quickly you can build the 1 month’s living expense. If it’s going to take you years you may choose to still work on some debt. But, as I mentioned in the article, I like the idea of having 1 month’s living expenses set aside as quickly as possible.

]]> By: Khaleef @ KNS Financial http://www.onemoneydesign.com/emergency-fund-versus-getting-out-of-debt/comment-page-1/#comment-10676 Khaleef @ KNS Financial Wed, 23 Jun 2010 19:17:00 +0000 http://onemoneydesign.com/blog/?p=7103#comment-10676 @ Jason, My wife and I reevaluated our plans and decided to do exactly what you suggested. We will plow 100% of all extra money to our EF until we hit one month of expenses. Then we will attack our debt! .-= Khaleef @ KNS Financial´s last blog ..<a href="http://feedproxy.google.com/~r/Knsfinancialcom/~3/5nUxkxdAw9A/" rel="nofollow">Trying to Reduce Expenses? Sweat the Big Stuff! – Car Costs</a> =-. @ Jason,

My wife and I reevaluated our plans and decided to do exactly what you suggested. We will plow 100% of all extra money to our EF until we hit one month of expenses. Then we will attack our debt!
.-= Khaleef @ KNS Financial´s last blog ..Trying to Reduce Expenses? Sweat the Big Stuff! – Car Costs =-.

]]> By: Weekend Wrap-Up: Memorial Day Yakezie Update Edition @ Beating Broke http://www.onemoneydesign.com/emergency-fund-versus-getting-out-of-debt/comment-page-1/#comment-8179 Weekend Wrap-Up: Memorial Day Yakezie Update Edition @ Beating Broke Mon, 31 May 2010 12:28:44 +0000 http://onemoneydesign.com/blog/?p=7103#comment-8179 [...] One Money Design: Emergency fund verses getting out of debt [...] [...] One Money Design: Emergency fund verses getting out of debt [...]

]]> By: Suzanne http://www.onemoneydesign.com/emergency-fund-versus-getting-out-of-debt/comment-page-1/#comment-7737 Suzanne Tue, 25 May 2010 01:44:48 +0000 http://onemoneydesign.com/blog/?p=7103#comment-7737 An emergency fund is essential especially if you are carrying a debt load. A good emergency fund can get you out of trouble if you are faced with say, car repairs or a leaky roof when credit is no loner available. A minimum of one months salary is a must, 3 months is better, and 6 months is optimum. Paying down your debt should remain a priority but having an emergency fund will help you to avoid future debt. Suzanne Social Media Specialist CareOne Debt Relief Services @AskCareOne An emergency fund is essential especially if you are carrying a debt load. A good emergency fund can get you out of trouble if you are faced with say, car repairs or a leaky roof when credit is no loner available. A minimum of one months salary is a must, 3 months is better, and 6 months is optimum. Paying down your debt should remain a priority but having an emergency fund will help you to avoid future debt.
Suzanne
Social Media Specialist
CareOne Debt Relief Services
@AskCareOne

]]> By: Jason http://www.onemoneydesign.com/emergency-fund-versus-getting-out-of-debt/comment-page-1/#comment-7710 Jason Mon, 24 May 2010 19:26:10 +0000 http://onemoneydesign.com/blog/?p=7103#comment-7710 Khaleef, interesting thought. I like allocating 100% of extra money to build the emergency fund to one month and then focus the rest on debt, but I suppose it all depends on your risk tolerance. Thanks for the comment! .-= Jason´s last blog ..<a href="http://feedproxy.google.com/~r/OneMoneyDesignBlog/~3/QIxhzUiCYfo/" rel="nofollow">Emergency Fund Versus Getting Out of Debt?</a> =-. Khaleef, interesting thought. I like allocating 100% of extra money to build the emergency fund to one month and then focus the rest on debt, but I suppose it all depends on your risk tolerance. Thanks for the comment!
.-= Jason´s last blog ..Emergency Fund Versus Getting Out of Debt? =-.

]]> By: Khaleef @ KNS Financial http://www.onemoneydesign.com/emergency-fund-versus-getting-out-of-debt/comment-page-1/#comment-7700 Khaleef @ KNS Financial Mon, 24 May 2010 15:05:30 +0000 http://onemoneydesign.com/blog/?p=7103#comment-7700 Like you, I also believe that $1,000 is MUCH too low for an emergency fund. I would suggest at least $2,500 to $3,000. One can shift all "extra" money to the emergency fund and then once it hit's $1,000 begin to split the shift between your EF and accelerated debt repayment. Once you hit your EF goal, shift all money to debt. Then afterwards, build your EF to about 9 months up to a year of living expenses. .-= Khaleef @ KNS Financial´s last blog ..<a href="http://feedproxy.google.com/~r/Knsfinancialcom/~3/VKh9cagDg0Q/" rel="nofollow">What Does the New Testament Teach About Tithing?</a> =-. Like you, I also believe that $1,000 is MUCH too low for an emergency fund. I would suggest at least $2,500 to $3,000. One can shift all “extra” money to the emergency fund and then once it hit’s $1,000 begin to split the shift between your EF and accelerated debt repayment. Once you hit your EF goal, shift all money to debt. Then afterwards, build your EF to about 9 months up to a year of living expenses.
.-= Khaleef @ KNS Financial´s last blog ..What Does the New Testament Teach About Tithing? =-.

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