Do you have an Emergency Fund? And what do you consider an Emergency?

[saundyl]

I consider emergencies to be a major or sudden out of the norm repair to the house or vehicles. A sudden vet visit or even a out of town trip.(like last month) because of a medical emergency.

I currently put 40 a month to my emergency fund (seems to drain faster than I fill it at times)

I have a utility overage account that I put over budgeted $ in for regular bills (ie power I budget 300 for...in the summer our bills have been under 200 so the difference is put aside ) ideally I'd like this account to have 3 months of what I budget for bills in.

A car savings account for repairs or potential replacement.

I have a savings I have not assigned a use for (tends to end up as groceries when we escape south)

I think putting a bit aside while paying debt gives one peace of mind or something to fall back on if something comes up Instead of digging a deeper hole.

Our joint is emergency or LG purchases or family vacation.

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[mutsadube]

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[frugal50]

i have RRSP, TFSA, LIRA, chequing and savings account

total net worth 400k and counting!!

[KDivers]

An emergency fund is used in the event that a person loses their job, illness or heath issues that are sudden and not covered (medication etc.)