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Obvious result but it made me smile

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    Obvious result but it made me smile

    So I have been on a relentless quest to eliminate all debt but the house. What was interesting is I set up a formula in Excel to calculate my emergency fund based on current and projected expenses. I have it set up so I can eliminate each debt with a 1 or 0 in the corresponding debt box. I know this is obvious, but it was way cool to see the EF required amount drop dramatically as each debt was paid off. Paying off debt drops the 6 mo EF from $54,000 to $36,500. Made me smile.

    Tom

    #2
    Oh yeah. Just wait until you evaluate one without the mortgage payment factor.

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      #3
      Originally posted by JustBill View Post
      Oh yeah. Just wait until you evaluate one without the mortgage payment factor.
      Oh yeah! That knocks it down to $18,800 for a 6 month EF.

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