How do you guys handle big expenses? What do you guys do with extra money? Do you send it to an investment account monthly? When you have expenses like home repairs or car reparis or replacing stuff, do you pull from your investment account? Do you pull from you EF and just replenish it? Or do you have just an extra cash cushion you pull from that is separate from your investment accounts and EF?
I find myself at a bit of a crossroads. I notice I don't like taking money out of my investment accounts ever. One exception is what I set aside for taxes (i'm self employed and stock sales). That I already set aside what I know I owe and wait until I make an estimated payment. But I have my EF at Vanguard in the settlement fund, thanks Disneysteve for pointing out how high it is.
I also rarely send money for investing monthly outside of our annual contributions to retirement stuff. Anyway I was just thinking I sort of let the excess cash build up in our capital one savings accounts and then it eventually gets spent or maybe I transfer a small amount when it get to $10k excess. But it seems like that extra cushion just gets burned up. So the EF is really a very generous EF for a maybe one day job loss and literally no inccome. Not really an emergency fund for stuff happening. Stuff happening is we no longer have income coming in.
How do you guys handle it? I'm trying to figure out if and how to change.
I find myself at a bit of a crossroads. I notice I don't like taking money out of my investment accounts ever. One exception is what I set aside for taxes (i'm self employed and stock sales). That I already set aside what I know I owe and wait until I make an estimated payment. But I have my EF at Vanguard in the settlement fund, thanks Disneysteve for pointing out how high it is.
I also rarely send money for investing monthly outside of our annual contributions to retirement stuff. Anyway I was just thinking I sort of let the excess cash build up in our capital one savings accounts and then it eventually gets spent or maybe I transfer a small amount when it get to $10k excess. But it seems like that extra cushion just gets burned up. So the EF is really a very generous EF for a maybe one day job loss and literally no inccome. Not really an emergency fund for stuff happening. Stuff happening is we no longer have income coming in.
How do you guys handle it? I'm trying to figure out if and how to change.
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