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Originally Posted by kristinecfp
The amount of ef depends on a number of things: how steady is your income? are you in a field that experiences layoffs? do you have good credit? is the car loan your only debt? do you have access to a home equity loan if a true emergency takes place?
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Income well he is in a field that is consistantly being pushed overseas, but he is also trying to get more into the hands on (hard to get a guy in india to fix your computer hardware that is sitting under your desk..) Basically in Aprilish he should be signing a contract for 3 years...so as long as that goes thru we are good for awile.
Excellent credit (well he does)
Car loan plus house. (car has yucky interest, house is ok)
home equity, doubt it, woulldn't want to but we do have enough open credit to buy a nice house on CCs so I think credit wise we have plenty of safety...we just don't want to have to use credit.
Right now we have some medical issues that need resolved, after that I think we will split the amount between car and EF.
Thank you for all the replies and ideas.