Comments on: Basic Budget to Determine Your Emergency Fund http://movetoportugal.org/basic-budget-to-determine-your-emergency-fund/ Simple living and moving to the sunshine Mon, 21 May 2012 19:35:34 +0000 hourly 1 http://wordpress.org/?v=3.2.1 By: Tony http://movetoportugal.org/basic-budget-to-determine-your-emergency-fund/#comment-1129 Tony Sun, 07 Jun 2009 10:08:59 +0000 http://movetoportugal.org/?p=819#comment-1129 I do have an emergency fund of around £8,000. I figure if there's a "real" emergency I can take a mortgage payment holiday which helps considerably. I keep the money in a cash ISA - as you say - not ideal, but I also keep a working cache of around £4,000 in an e-saver account. Again, in a "real" emergency I don't think I'd be too concerned about losing a couple of years ISA allowance. One more thing my mortgage, as well as allowing a payment holiday, allows me to get a cash back on overpayments I've made. I reckon I could probably survive three years or so in a "real, real, real" emergency, using overpayment cashbacks :) Not saying I'd want to do that, but having that behind you does give you a nice feeling, as well as that most important of things: <b>options</b>. I do have an emergency fund of around £8,000. I figure if there’s a “real” emergency I can take a mortgage payment holiday which helps considerably.

I keep the money in a cash ISA – as you say – not ideal, but I also keep a working cache of around £4,000 in an e-saver account. Again, in a “real” emergency I don’t think I’d be too concerned about losing a couple of years ISA allowance.

One more thing my mortgage, as well as allowing a payment holiday, allows me to get a cash back on overpayments I’ve made. I reckon I could probably survive three years or so in a “real, real, real” emergency, using overpayment cashbacks :) Not saying I’d want to do that, but having that behind you does give you a nice feeling, as well as that most important of things: options.

]]> By: Shoestring http://movetoportugal.org/basic-budget-to-determine-your-emergency-fund/#comment-1127 Shoestring Sat, 06 Jun 2009 21:24:04 +0000 http://movetoportugal.org/?p=819#comment-1127 This is so impressive. I've only really cottoned on to the whole emergency fund concept this year. I'm currently stashing my cash for a few projects so I'll be starting my emergency fund late summer. Obviously if something happened I would use what I have saved already but ideally I won't need to! <abbr><em>Shoestring’s last blog post..<a href="http://shoestringalley.wordpress.com/2009/06/06/day-71-a-frilly-umbrella/" rel="nofollow">Day 71: A frilly umbrella</a></abbr></em> This is so impressive. I’ve only really cottoned on to the whole emergency fund concept this year. I’m currently stashing my cash for a few projects so I’ll be starting my emergency fund late summer. Obviously if something happened I would use what I have saved already but ideally I won’t need to!

Shoestring’s last blog post..Day 71: A frilly umbrella

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