What about tax-exempt money market funds? Are they worth considering?
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Originally Posted by lrjohnson
I'm trying to decide what to do with my Emergency fund, too. Is everyone else aiming for 6 months expenses? Just like I don't want not enough in an EF, I don't want to much in there either.
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This is true, but I think 10k is reasonable for me. It means that even if my car dies tomorrow, I can pay one with cash if I really had to. 10k would also cover me for 6 months in case of job loss. More than likely, an emergency will cost less than that, so it also means that when it does happen, my safety net isn't completely depleted. 10k also has the aesthetically-appealing feel of a nice round number.
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How much do you guys keep in your "regular" checking/savings, before it goes to EF or investing/IRA/etc/? One month expenses? More?
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I have very little in my checking. Most of my cash is in my money market, and I'm hoping to move to that account exclusively some time in the near future. But I pay debit/cash on almost everything and rarely write checks, so I can get away with that.