We've had some serious expenses here the past few months:
$690 auto repair in Aug
$690 unexpected electrician bill Oct 1
$340 replace rental unit washing machine
I have been able to keep these purchases off the credit card but have had done serious damage to our savings account (and I just paid tuition for the 07-08 school year for 3 DKs for $3,200.) I figure if I really buckle down on most extraneous expenses I can come up with about $1,000 a month. I'm considering "laddering" three 3-month CDs for an EF knowing that I can access the money in no more than two weeks (14-day grace period) and my parents could always advance me fund til I'd pay them back (no more than two weeks). Does this make sense to anyone? Anyone else do this?
I'm also moving money to Vanguard's money market fund since our bank's intro-rate to new money market accounts dropped to 3 something%. But there is a 10 day hold on all money going into that fund/account so that is where my more significant savings ($10K is going)
where and what do you do with your savings/EFs?
Where do you keep your EF?
October 9th, 2007 at 08:35 pm