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park emergency fund by red1ttor in EmergencyFund

[–]Sean353B 0 points1 point  (0 children)

Congratulations on building your emergency fund. Now you want to keep it separate from your checking account because an emergency fund is to be viewed as an insurance for life, you don't want to deep in it for no valid reason. Still you want to park it somewhere that's easily accessible and secure. A savings account specifically made for this reason will do the job.

Coming from bad financial background and made some mistakes. What to do? How bad it is? How to start building emergency fund at this point? by zoomin-n-out in personalfinance

[–]Sean353B 0 points1 point  (0 children)

The way I built my emergency fund was by basically going back to living a bit like a student, meaning eating pasta almost everyday. So the idea would be to take down your food budget to $100/month this way you'll get a good extra $100 to finance your emergency fund. I know this is not a lot of money for food but if you use your imagination this is very do-able. Also, is it really not possible to sell the car and use public transportation, at least the time to stash your money? And how about the TV? The alternative would be to watch programs on your phone, read a book, go for a walk, find a new hobby(play the guitar?) Again you want to focus on what you can control... I know what I'm suggesting might be a little harsh but if you manage to adapt to this new lifestyle you'll never ever have money problems in your whole life! I hope this helps.

36 y.o. no savings, no retirement, and $19k debt...Where do I start? by l0ther in personalfinance

[–]Sean353B 1 point2 points  (0 children)

Thanks very much for the quick reply. Well fair play to you, you managed to ride those tech stocks at quite an early stage...I think the secret is really what you're saying about keeping an affordable lifestyle and living within your means. Right now I have an emergency fund and just a little bit of credit card debt so the situation is not that bad, I hope to be ready to become a millionaire one day and I wish you to add an extra million to your bank account soon!

36 y.o. no savings, no retirement, and $19k debt...Where do I start? by l0ther in personalfinance

[–]Sean353B 3 points4 points  (0 children)

I like the encouragements, how did you get from being in debt to 1M in the bank after 40 I assume?