Emergency Funds - Why You need an emergency fund. - Canada

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RE: Why You need an emergency fund.

Postby Ashley Watson » Tue Aug 24, 2010 03:27:55 AM

Fast loan do not care for your credit history, so if you ever need for the emergancy money you can go through fast loan.
Ashley Watson
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RE: Why You need an emergency fund.

Postby jonathanpaul » Fri Aug 13, 2010 02:17:10 AM

hi everyone,

i think saving or putting a separate amount of money out from your salary would be essential. we may not know what will happen in the future. at least when you start to save now, you will have some money to use in the future.

currently, we are in a crisis situation and if ever worst comes to worst, we can still survive because of the saving we have made. taking off as small as $500 from your salary would be huge later without you knowing that i reached that certain amount.

lets start to save now and be secure in time of trouble.
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RE: Why You need an emergency fund.

Postby Chutters » Thu Aug 05, 2010 08:45:22 AM

The new CIBC widget has some great ideas on how to improve your financial standing.
MThirty has shared a widget with you on behalf of CIBC.
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RE: Why You need an emergency fund.

Postby buddy1000 » Wed Jan 20, 2010 04:19:51 PM

hello India,
You're doing better than us, and it sounds like you're on a single salary.

This is really a kick in the head for us. We never dreamed that we would be laid off like this.. We've never needed an emergency fund

Anyway. good for you for saving like that!
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RE: Why You need an emergency fund.

Postby India » Wed Jan 20, 2010 04:02:07 PM

hello i am new here
my question is: i have 2500 in savings

this isn't enough to cover 6 months of bills but it makes me feel good that its there

is it good enough to have 2 months of bills covered? i make enough money to get by and it's going to take about 2 years to save up enough money for six months emergency fund
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RE: Why You need an emergency fund.

Postby swents8 » Mon Feb 23, 2009 04:52:45 AM

A bank account is a good place to start an emergency fund. Some banks have accounts with no monthly fees. If you have enough money to earn bank interest, then that is even better. You should set monthly goals to add to your bank account.
There is incessant social pressure to spend spend spend so you can look like your favorite American Idol or "live large" like your favorite actor or rock star or just have the same things - or better things, actually - than your neighbors. Simple willpower doesn't do the trick in a country where the mean income for a family of four is in the low 30 thousands.
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Why You need an emergency fund.

Postby montyloree » Sat Dec 06, 2008 04:32:33 AM

If you're not saving for emergencies... all types of stressful things can happen.


In life you should expect the unexpected, and this is why you need an emergency fund. The best you can do is to prepare for emergencies that require access to additional money and having an emergency fund is the ideal solution.

Financial emergencies can come in the form of a job loss, significant medical expenses, home or auto repairs or something you’ve never dreamed of. The last thing you want to do is be forced to rely on credit cards or a loan which could simply compound the problem.
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