Question

I’m a newbie to TBM. Do you guys have your emergency fund as your “chequing cushion” or do you have a $1000 EF in a separate account, and then a chequing cushion that’s separate in the account that you pay bills with? Thanks . I have a cushion and now I’m saving an EF before I go hard on tackling debt, but wasn’t sure if I should have them separate or just a Cusion/EF combined

Answer 1

I have my EF in a separate bank so I am not tempted to dip into it.  

Answer 2

$1000 EF in savings, $100 cushion in checking

Comments

@hauteur thank you, these we’re going to be my amounts if I did them separate

Answer 3

1000 in my savings

Answer 4

Separate. They serve different purposes. The cushion is for oh hey, I spent $10 more on groceries this week. The emergency fund is for when you say  because of a bump in the road.  

Answer 5

Seperate. I have an emergency fund with 3 months of expenses saved, and also keep a $1, 000 buffer in checking. It has taken me a long time to get to this place, I started super slow with $50 here or there, any any extra I could.  

Answer 6

My EF is in a savings account.  

Answer 7

I have mine separate. I have my emergency fund in a savings account, a very small checking account cushion ($100) because I don't use it much and then I have a cushion for my cash wallet($300).  

Answer 8

We hv our separate

Answer 9

Separate account. If it’s in the checking account it’s too easy to end spending it on stupid stuff.