3 paychecks month!

[iliketosavemoney]

For anyone getting paid bi-weekly, we get paid 3 times this month! Yeah!
I'm going to go buy a new 65" TV. What are you going to do with your paycheck?

Just kidding about the TV. It's going straight into our EF.

[JulieAlbright]

lucky you. My next 3 paycheck month isn't until October.

I usually use it to finish up what I'll need for Holiday shopping and then the rest gets put into some sinking funds like car repairs etc.

[klarose]

I'm with Julie. Paid bi-weekly but with the way my bills are due, I won't have an "extra" payment until Oct.

[JoeP]

Our "extra" payments (May and October this year) went toward and will go toward EF and saving toward certain household improvements.

[asmom]

Another October person here. I usually just contribute the "extra" to my EF.

[snafu]

There seems to be so many versions of 'Emergency Fund.' Is it liquid savings for an unplanned major expenses like car repair or major appliances that unexpectedly stopped functioning? Is it 3-6 months basic expenses to carry the family due to job loss? Is it all best kept liquid or should sums over say $5K be invested in CDs or some lesser liquidity?

[rennigade]

I wish we would only get paid once a month. Currently we get paid 2 times a month. Would be less space taken up in my checkbook registry.

[dawnwes]

I hear you.

DH gets paid twice a month. When I worked I got paid every 4 weeks, or 13 times per year. I loved it.

Dawn

I wish we would only get paid once a month. Currently we get paid 2 times a month. Would be less space taken up in my checkbook registry.

[JoeP]

There seems to be so many versions of 'Emergency Fund.' Is it liquid savings for an unplanned major expenses like car repair or major appliances that unexpectedly stopped functioning? Is it 3-6 months basic expenses to carry the family due to job loss? Is it all best kept liquid or should sums over say $5K be invested in CDs or some lesser liquidity?

It varies. Ours is for unplanned expenses such as appliance failures, broken windows, medical situations, and insurance deductibles. The default purpose is for job loss, should that occur. Some people budget separately for the eventual repairs needed on appliances, vehicles, household, etc.

We like to keep a large amount in a savings account which nets a whopping 0.08%, and an even larger amount in very low risk bond funds that have been doing well around 6%. The purpose is not to make a lot on the dividends, but to have a safe stash that will be there when we need it.

[feh]

What are you going to do with your paycheck?

My wife is in this boat...it will be saved/invested, just like any other surplus.