Comments on: Get Out of Debt in 9 Steps # 4 – Create an Emergency Fund

By: T

Tue, 13 Jan 2009 00:28:35 +0000

Just a comment on your $1000 emergency fund. I know it seems daunting to save more than that, but you really, really should. The problem is that three to six months of savings may not actually be enough. I became unemployed at the age of 26ish. Although very well qualified for many jobs, I found it next to impossible to find anything (I realize many people don’t believe this, but it was one week before 9/11 that I became unemployed… remember the hiring freeze?). I had to live on unemployment for 5.5 months while sending out over 150 resumes/week, followed up with phone calls, etc… I did everything I could to work (I’m a workaholic), and those were the worst 5.5 months of my life. At 3-months savings now, I’d be screwed on unemployment and I live way beneath my means. But I’ve substantially built up a great buffer, and on a moderate investment over many years. All of you can do it! I know you can.

By: Carnival of Credit Report Stories November 26 | How I Save Money.net

Carnival of Credit Report Stories November 26 | How I Save Money.net — Fri, 30 Nov 2007 12:49:46 +0000

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By: Get Out of Debt in 9 Steps # 8 - Make Yourself Accountable » Finance and Fat

Tue, 27 Nov 2007 16:20:16 +0000

[...] your spending and keep your budget updatedGet Out of Debt in 9 Steps # 5 – Live Below Your MeansGet Out of Debt in 9 Steps # 4 – Create an Emergency FundGet Out of Debt in 9 Steps # 3- Turn Your Junk into [...]