Ramit Sethi tweeted this :
“Why do pundits still suggest saving up for an emergency fund? Nobody does it. Stop beating a dead horse and come up with another suggestion.”
I was stunned. Am I the only person on the planet with an emergency fund?
I decided to throw out the question to whoever was following me on Twitter:
@hank_MiB - 3 months saved up here. ate a big chunk of it for landscaping though…
@willandbeyond - Grad student stipend’s don’t really give much room to save for an emergency fund unfortunately…
@ericyng - I had about 8 months of income saved up, but decided to use it to pay off my car (6.5%). Now I’m working on saving again
@bripblap - I have an emergency fund covering about 2 months’ expenses now. Last year, 10 mos.,we decided that was too much cash on hand.
@brucethetaxguy - 6 months
@Green_Panda - 3 months in EF in an ING account
So there are at least a handful of p...
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The No Debt Plan: Step One: A BudgetFrom: nodebtplan.net
Post Date: 2008-02-27 05:00:03
I have been afraid of writing this post for some time. Out of anything I will ever write on this blog, this is by far near the top of the list of the most important topics. To succeed in your financial life, to run your No Debt Plan, to really understand what is going on… you must be able to budget. There is no alternative. Call it a spending or savings plan if you like, when it comes down to it they are all the same — a budget.
Definition
From Webster’s Dictionary:
4 ...
more An Introduction to My PointsFrom: nodebtplan.net
Post Date: 2008-02-26 08:00:10
MyPoints is a marketing website designed to encourage users to visit sponsoring retailers to buy stuff. If you buy stuff at Circuit City through MyPoints, you get 4 MyPoints for every dollar you spend. Later on you can swap out your MyPoints for gift cards to other retailers.
I can’t remember which personal finance blog I saw it on, but I was skeptical at first. Anything where I have to spend money to get money makes me nervous. However, this sounded a bit like FatWallet , which I have...
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