Emergency Fund Is In Place!

I finally have an emergency fund of one thousand dollars set aside in a savings account.  If you follow the advice of some financial gurus like Dave Ramsey,  they often list the emergency fund as the first step to getting out of debt.  It does make sense that if you have the emergency fund ready, you are less likely to have to borrow when you have some unexpected expense rear it’s ugly head.

I was so intent on getting our Care Credit account paid before the interest-free period expires that I decided to skip the emergency fund for a while.

I just got the best tax refund I’ve had in years and it’s enough to knock out the Care Credit and start the emergency fund.

We have never been good at saving money and I’m thinking we may be better off if the emergency fund is placed in another account other than the one we use everyday.  I believe the expression “Out of sight, out of mind” might apply here.

I have read a lot about the ING online banking accounts and have applied for one.  I’m waiting for them to verify my account right now and then I’ll use that to hold a portion of my emergency fund.