Re: Is $1000 enough for an emergency fund?
It seems like a lot of people don't budget for certain expenses, and they become emergencies.
A blown trannie on a car. Missing a week of work due to being sick (no sick pay. Plane tickets to a funeral.
If I was in the very early stages of getting out of debt, those things might paralyze me. They aren't what I would consider emergencies, but having the $1,000 to take care of them might keep me from getting derailed.
I think the idea of a $1,000 cushion is great. Then i would build an emergency fund, and plan for certain expenses so that when my car needed repairs, I'd take it out of my "banked" car repair money instead of an emergency fund. (Maybe not funeral money-that's a bit macabre-but "urgent travel" or "family travel" or whatnot.)
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