I met up with my friend last week. We were talking about money when she said to me: "do you know you're meant to have 3 months pay saved for an emergency?" Yep. She was quite surprised that I knew that, she only knew cause someone had came to her work to speak to them. I told her I knew about it because I've spent a lot of time online finding tips to save. However, I haven't got an EF. I wish I had one so I could have said: "Yep and I've got one"
I tried to start one last year but it turned into Moving Out Fund. Well I spoke to hubby and told him we have to start one. So that's my new goal for 2011: start an EF.
Good luck on the emergency fund!
Hey, knowledge is power, right? You can implement it now and it will lead to being able to say "Yes, and we have one" next time! Having a well-stocked EF really is the best insurance against Murphy's Law, and a remarkable stress-diminisher. Good luck on yours!