Re: Crisis Fund
I like the article, but one suggestion I found helped. If you tap into your 'crisis' fund on a regular basis then you're probably not budgeting properly. Stuff like car repairs should be planned for in a separate account. I started to correct my life about 11 months ago, I don't make alot of money and I'm the sole earner for a family of four. But, I am now a pretty frugal guy. I've managed to get the crisis fund up to $5000.00 and need to save more to complete it. I was advised that it should be 3 x my monthly income (gross). To be used for job loss, medical emergencies (requiring time off), deaths in the family, etc. I budget for all of those other emergencies (like car stuff, house repairs, etc.) you'll find that they no longer seem like a crisis when you are all ready for them...
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