Obvious result but it made me smile

[corn18]

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

[JustBill]

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

[corn18]

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.