Comments on: A Flexible Fund for Out of the Ordinary Non-Emergencies http://financefreelancelife.com/2008/05/05/flexible-fund-for-out-of-the-ordinary-non-emergencie/ Fri, 19 Mar 2010 13:56:41 +0000 http://wordpress.org/?v=2.9.1 hourly 1 By: Alison @ This Wasn't In The Plan http://financefreelancelife.com/2008/05/05/flexible-fund-for-out-of-the-ordinary-non-emergencie/#comment-18099 Alison @ This Wasn't In The Plan Thu, 08 May 2008 19:55:23 +0000 http://financefreelancelife.com/?p=604#comment-18099 At the end of last year, my husband and I figured out how much money we had spent on miscellaneous things - such as travel, entertainment, memberships, etc. and started saving that amount in one of our ING accounts. We hit that amount pretty quickly and now should anything pop up, we can pull from there if necessary. We also have an account for gifts, primarily Christmas ones, as well as an account for all car expenses (including insurance), and then just a generic emergency fund. At the end of last year, my husband and I figured out how much money we had spent on miscellaneous things – such as travel, entertainment, memberships, etc. and started saving that amount in one of our ING accounts. We hit that amount pretty quickly and now should anything pop up, we can pull from there if necessary. We also have an account for gifts, primarily Christmas ones, as well as an account for all car expenses (including insurance), and then just a generic emergency fund.

]]> By: Save Money On Groceries At Kroger | HarvestingDollars http://financefreelancelife.com/2008/05/05/flexible-fund-for-out-of-the-ordinary-non-emergencie/#comment-18012 Save Money On Groceries At Kroger | HarvestingDollars Wed, 07 May 2008 11:58:21 +0000 http://financefreelancelife.com/?p=604#comment-18012 [...] have a full (3-6month) emergency fund you might consider this. If you had an opportunity fund or a flexible fund, that would be ideal. Should an emergency hit though you would potentially use your emergency fund [...] [...] have a full (3-6month) emergency fund you might consider this. If you had an opportunity fund or a flexible fund, that would be ideal. Should an emergency hit though you would potentially use your emergency fund [...]

]]> By: Heidi http://financefreelancelife.com/2008/05/05/flexible-fund-for-out-of-the-ordinary-non-emergencie/#comment-17980 Heidi Tue, 06 May 2008 16:37:27 +0000 http://financefreelancelife.com/?p=604#comment-17980 I use my "infrequent bills account" for this kind of thing. We use this account for everything from insurance to car maintenance. I use my “infrequent bills account” for this kind of thing. We use this account for everything from insurance to car maintenance.

]]> By: Tanya http://financefreelancelife.com/2008/05/05/flexible-fund-for-out-of-the-ordinary-non-emergencie/#comment-17979 Tanya Tue, 06 May 2008 15:54:04 +0000 http://financefreelancelife.com/?p=604#comment-17979 So glad it worked out well for you! I keep a "misc" fund that I contribute $20/mo to.... but I do lots of random savings. I also have a travel fund and a separately growing emergency fund. So glad it worked out well for you!

I keep a “misc” fund that I contribute $20/mo to…. but I do lots of random savings. I also have a travel fund and a separately growing emergency fund.

]]> By: Cath Lawson http://financefreelancelife.com/2008/05/05/flexible-fund-for-out-of-the-ordinary-non-emergencie/#comment-17977 Cath Lawson Tue, 06 May 2008 15:49:16 +0000 http://financefreelancelife.com/?p=604#comment-17977 Hi Mrs M - I keep small accounts in bank accounts I don't use often for this sort of emergency and I only use the money if I really need to. I used to collect pound coins too - I'd throw them into the bottom of my handbag and save them instead of spending. That was great for emergencies but not too good for my back as they could really mount up. That is great that you got money for writing that you didn't expect to get paid for by the way. It must have been good. Hi Mrs M – I keep small accounts in bank accounts I don’t use often for this sort of emergency and I only use the money if I really need to.

I used to collect pound coins too – I’d throw them into the bottom of my handbag and save them instead of spending. That was great for emergencies but not too good for my back as they could really mount up.

That is great that you got money for writing that you didn’t expect to get paid for by the way. It must have been good.

]]> By: Anitra http://financefreelancelife.com/2008/05/05/flexible-fund-for-out-of-the-ordinary-non-emergencie/#comment-17973 Anitra Tue, 06 May 2008 13:56:26 +0000 http://financefreelancelife.com/?p=604#comment-17973 This is why we always keep some "float" in our checking account - in case we go over budget, or unexpected expenses come up (that aren't major emergencies). We have a formal emergency fund too, but that would only get tapped for true emergencies in excess of $1000. This is why we always keep some “float” in our checking account – in case we go over budget, or unexpected expenses come up (that aren’t major emergencies). We have a formal emergency fund too, but that would only get tapped for true emergencies in excess of $1000.

]]> By: My Small Cents http://financefreelancelife.com/2008/05/05/flexible-fund-for-out-of-the-ordinary-non-emergencie/#comment-17968 My Small Cents Tue, 06 May 2008 05:45:02 +0000 http://financefreelancelife.com/?p=604#comment-17968 This is a great idea. I always have something that I've forgotten to budget for, or that comes up unexpectedly. I love the tag 'slush fund'. This is a great idea. I always have something that I’ve forgotten to budget for, or that comes up unexpectedly. I love the tag ’slush fund’.

]]> By: Funny about Money http://financefreelancelife.com/2008/05/05/flexible-fund-for-out-of-the-ordinary-non-emergencie/#comment-17967 Funny about Money Tue, 06 May 2008 04:22:52 +0000 http://financefreelancelife.com/?p=604#comment-17967 Exactly. LOVE Frugal Dad's "sunny day fund" term for it. I put about $170 a month (was $200 before charming biweekly pay started) in a savings account for gifts, for indulgences, and to cover smaller emergencies such as the stream of veterinary bills I'm enjoying right now. The serious emergency fund is in Vanguard short-term corporate bond and money market funds. Since taking money out of the bond fund is a taxable event, that money gets left alone as much as possible. Exactly. LOVE Frugal Dad’s “sunny day fund” term for it.

I put about $170 a month (was $200 before charming biweekly pay started) in a savings account for gifts, for indulgences, and to cover smaller emergencies such as the stream of veterinary bills I’m enjoying right now.

The serious emergency fund is in Vanguard short-term corporate bond and money market funds. Since taking money out of the bond fund is a taxable event, that money gets left alone as much as possible.

]]> By: Lazy Man and Money http://financefreelancelife.com/2008/05/05/flexible-fund-for-out-of-the-ordinary-non-emergencie/#comment-17966 Lazy Man and Money Tue, 06 May 2008 03:09:32 +0000 http://financefreelancelife.com/?p=604#comment-17966 I think it depends how much you really get into budgeting. If you have $20,000 in an emergency fund, does it really matter much if you borrow 1% for a couple of weeks for a short term expense. I think it depends how much you really get into budgeting. If you have $20,000 in an emergency fund, does it really matter much if you borrow 1% for a couple of weeks for a short term expense.

]]> By: mark http://financefreelancelife.com/2008/05/05/flexible-fund-for-out-of-the-ordinary-non-emergencie/#comment-17965 mark Tue, 06 May 2008 02:44:26 +0000 http://financefreelancelife.com/?p=604#comment-17965 This is our biggest problem. Those expenses that pop up from time to time. we try to leave extra in the checking account for them. It works out good most of the time. We each have a savings account for the little surprises for presents. This is our biggest problem. Those expenses that pop up from time to time. we try to leave extra in the checking account for them. It works out good most of the time. We each have a savings account for the little surprises for presents.

]]>