North Florida Nesties
Dear Community,
Our tech team has launched updates to The Nest today. As a result of these updates, members of the Nest Community will need to change their password in order to continue participating in the community. In addition, The Nest community member's avatars will be replaced with generic default avatars. If you wish to revert to your original avatar, you will need to re-upload it via The Nest.
If you have questions about this, please email help@theknot.com.
Thank you.
Note: This only affects The Nest's community members and will not affect members on The Bump or The Knot.
Our tech team has launched updates to The Nest today. As a result of these updates, members of the Nest Community will need to change their password in order to continue participating in the community. In addition, The Nest community member's avatars will be replaced with generic default avatars. If you wish to revert to your original avatar, you will need to re-upload it via The Nest.
If you have questions about this, please email help@theknot.com.
Thank you.
Note: This only affects The Nest's community members and will not affect members on The Bump or The Knot.
Clicky-poll: Emergency Nest Egg
ETA: Bonus question -- when factoring "expenses," do you factor how you currently spend money, or the way you WOULD spend money if there were a loss in income?
[Poll]"You can make more friends in two months by becoming interested in other people than you can in two years by trying to get other people interested in you." - Dale Carnegie
Re: Clicky-poll: Emergency Nest Egg
Our e-fund is based on fixed expenses and cutting a lot of luxuries from the budget.
Also, if everyone answers with what they want their e-fund to be rather than what it is it could really skew the results which I don't think were jen's intentions. I'd also love to have a million dollar salary, but that's not what my answer would be if this was a salary poll.
Yeah, definitely an interesting question, but not what I was going for.
Well...sure. Wouldn't we all pick 1+ year if we were answering the question that way? Who would actually say, "Nah. I'm good with just 6 months, thanks?"
LOL. Good point. In this current economy where it seems like no job is safe, I would ideally have a year. When weighing options like you guys seem to be about what to have liquid & what debt to pay off, we've settled on closer to the 6 month mark.
Laner- That makes more sense now that you clarified.
We don't have a bunch of separate accounts devoted to specific things. Just our own individual bank acc'ts which we use to pay our regular bills and one joint savings which we don't ever touch, it's reserved for our real estate investments (down payments). So I guess that could technically count as our "e-fund", since we'd pull from there if there ever was a huge emergency that we couldn't cover with our checkings/individual savings. When our checking gets higher than we need, we dump it into the joint savings.
I don't think the MM gods approve of this method but it makes sense for us.
I would consider your e-fund whatever part of that savings account you would not be willing to use for your downpayment.
Our e-fund is 6 months worth of expenses, not to include travel, home improvements, Roth contributions, and the like. It assumes that both of us are out of a job at the same time, which would be an extreme situation, but we both have the same employer, so could theoretically happen. I think this is conservative, but that fits our personalities and is what we are comfortable with.
Currently our savings account is higher than that amount and we are deciding how to best leverage the extra. But we only consider the amount above what we've calculated our e-fund to be, to be available to us.
My Ovulation Chart