Comments on: Dave Ramsey’s Baby Step 3: Fully Funded Emergency Fund

By: What is the Difference Between Saving and Investing?

What is the Difference Between Saving and Investing? — Fri, 30 Dec 2011 15:39:41 +0000

[...] an emergency happens, the money is needed immediately. The emergency fund, therefore, should be in a very boring account, such as a Savings Account or Money Market Account. [...]

By: Pay Off Mortgage Early

Pay Off Mortgage Early — Wed, 24 Aug 2011 14:51:56 +0000

[...] at least a six month emergency fund. Why? Because emergencies WILL happen, and money tied up in their house cannot not be easily [...]

By: Living or Giving More? Financial Lessons From John Wesley

Living or Giving More? Financial Lessons From John Wesley — Wed, 11 May 2011 15:08:11 +0000

[...] stored very little of his earnings for the types of savings we deem non-negotiables today, such as emergency funds or retirement nest eggs. He urged his followers to purchase only the absolute basic necessities of [...]

By: How The Number One Personal Finance Principle Affects Two Diverse Families

How The Number One Personal Finance Principle Affects Two Diverse Families — Mon, 31 Jan 2011 10:02:13 +0000

[...] paths seldom cross without her taking time to ask me about my family. With no debt and a $12,000 emergency fund, Julie has few money worries. Oh…did I mention that she has a minimum wage [...]

By: Dave Ramsey’s Baby Step 7: Build Wealth and Give

Dave Ramsey’s Baby Step 7: Build Wealth and Give — Mon, 13 Dec 2010 21:05:21 +0000

[...] you have come a long way. All of your debt is gone, including your house mortgage. You have a great emergency fund, your children’s college is well funded and the positive cash flow you used to accomplish the [...]

By: Why I Said “Yes” … and then “No” to My Cell Phone Protection Plan

Why I Said “Yes” … and then “No” to My Cell Phone Protection Plan — Mon, 15 Nov 2010 14:27:50 +0000

[...] an extra 5 bucks every month for everything I ever purchase, I smugly self insure by keeping my emergency fund intact. Besides, when Dave Ramsey says that 50 to 80 percent of extended warranties/protection [...]

By: 7 Reasons to Rent Instead of Buy a Home

7 Reasons to Rent Instead of Buy a Home — Fri, 05 Nov 2010 13:53:46 +0000

[...] to the above chart, the renter has over $1,000 a month he can use to pay off debt, build his emergency fund or invest for retirement. The buyer does not have those [...]

By: Should You File That Insurance Claim?

Should You File That Insurance Claim? — Mon, 04 Oct 2010 01:17:59 +0000

[...] a “minor” claim, triggering a rate hike or cancellation. Hint: make sure you have a big enough emergency fund to cover those deductibles. Consider $1,000 on auto and $2,500 on [...]

By: Should We Pay Off Our Home Early?

Should We Pay Off Our Home Early? — Tue, 19 Jan 2010 16:01:44 +0000

[...] called it her “rainy day fund” for good reason: rainy days come. A big emergency fund is a higher priority than paying off your house early because when emergencies come, you need [...]

By: Branden @ FaithFitnessFinance

Branden @ FaithFitnessFinance — Sat, 17 Oct 2009 00:05:35 +0000

After having spent what feels like an eternity on baby step #2, I can’t wait to get under way for 3. We should be out of debt but our house by the end of the year and fully funded in our emergency fund pretty soon thereafter. Looking to the future, I can’t wait to get to this point and know that daily events in finances won’t determine our future. Thanks for the post!