Comments on: How Do You Spend Your Emergency Fund Money? http://studenomics.com/personal-finance/how-do-you-spend-your-emergency-fund-money/ Wed, 23 May 2012 15:40:24 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: Jeff Rose http://studenomics.com/personal-finance/how-do-you-spend-your-emergency-fund-money/#comment-1421 Jeff Rose Thu, 12 Feb 2009 17:25:01 +0000 http://studenomics.com/?p=577#comment-1421 We've been lucky enough to not have to touch our emergency fund for quite some time. The most recent time was to pay our architect for our house plans. If things continue, we should be able to reimburse the emergency fund with a little more on top. We’ve been lucky enough to not have to touch our emergency fund for quite some time. The most recent time was to pay our architect for our house plans. If things continue, we should be able to reimburse the emergency fund with a little more on top.

]]> By: The Financial Nut http://studenomics.com/personal-finance/how-do-you-spend-your-emergency-fund-money/#comment-1409 The Financial Nut Thu, 12 Feb 2009 01:54:43 +0000 http://studenomics.com/?p=577#comment-1409 I spent it on my honeymoon cruise. Okay- that sounds terrible. It's partially true. I had money in my IRA that could potentially act as an e-fund while I tried to get married. Buying a ring, paying for a honeymoon, and furnishing an apartment is expensive. We quickly repented and have a fully-funded efund for 6 months of living expenses. I spent it on my honeymoon cruise.

Okay- that sounds terrible. It’s partially true. I had money in my IRA that could potentially act as an e-fund while I tried to get married. Buying a ring, paying for a honeymoon, and furnishing an apartment is expensive.

We quickly repented and have a fully-funded efund for 6 months of living expenses.

]]> By: Suzie Bee http://studenomics.com/personal-finance/how-do-you-spend-your-emergency-fund-money/#comment-1400 Suzie Bee Wed, 11 Feb 2009 21:22:00 +0000 http://studenomics.com/?p=577#comment-1400 I don't have an emergency fund per se - I call it my "fun money". It's for: i. Unexpected present-buying ii. Unusually large one-off expenses (e.g. Buying a £60 ticket to see a musical) iii. Saving up for a big treat for myself. I want to go to Mexico this summer. I need between £800 and £1000. But I'm not sure whether to touch my fun money. I was planning on buying a new computer. Even if I used it all, I'd still be a couple of hundred short. So I'd need to dip into my proper savings account (affectionately known as the "house deposit fund"). I never realised before this that I have a huge psychological barrier when it comes to spending money I've saved. Once it's socked away in a savings account, I just don't want to take it out, even when I'd be spending it on exactly what I saved it for (i.e. having one-off expensive fun!). I don’t have an emergency fund per se – I call it my “fun money”. It’s for:
i. Unexpected present-buying
ii. Unusually large one-off expenses (e.g. Buying a £60 ticket to see a musical)
iii. Saving up for a big treat for myself.

I want to go to Mexico this summer. I need between £800 and £1000. But I’m not sure whether to touch my fun money. I was planning on buying a new computer. Even if I used it all, I’d still be a couple of hundred short. So I’d need to dip into my proper savings account (affectionately known as the “house deposit fund”).

I never realised before this that I have a huge psychological barrier when it comes to spending money I’ve saved. Once it’s socked away in a savings account, I just don’t want to take it out, even when I’d be spending it on exactly what I saved it for (i.e. having one-off expensive fun!).

]]> By: Erin D. http://studenomics.com/personal-finance/how-do-you-spend-your-emergency-fund-money/#comment-1398 Erin D. Wed, 11 Feb 2009 19:15:03 +0000 http://studenomics.com/?p=577#comment-1398 I have only touched my emergency fund for one thing. I broke my glasses and needed replacements. Coincidentally I also had to have a new exam. Since I was using my emergency fund anyway, I decided to take this opportunity to get contacts. I bought a whole year of contacts and some cheap glasses for when I was feeling lazy. Thankfully, I've already replaced the funds I used. I have only touched my emergency fund for one thing. I broke my glasses and needed replacements. Coincidentally I also had to have a new exam. Since I was using my emergency fund anyway, I decided to take this opportunity to get contacts. I bought a whole year of contacts and some cheap glasses for when I was feeling lazy. Thankfully, I’ve already replaced the funds I used.

]]> By: Stephanie PTY http://studenomics.com/personal-finance/how-do-you-spend-your-emergency-fund-money/#comment-1396 Stephanie PTY Wed, 11 Feb 2009 19:01:43 +0000 http://studenomics.com/?p=577#comment-1396 While in college, the only things I've touched my E-fund for have been unexpected car repairs. Yes, I know I should have a separate "car maintenance fund," but I don't. Yet. These next few months, immediately after college, I may have to dip into it if my getting-established fund is not enough. While in college, the only things I’ve touched my E-fund for have been unexpected car repairs. Yes, I know I should have a separate “car maintenance fund,” but I don’t. Yet. These next few months, immediately after college, I may have to dip into it if my getting-established fund is not enough.

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