Comments on: How Much is Adequate for Emergency Fund http://kclau.com/wealth-management/how-much-is-adequate-for-emergency-fund/ Personal Finance Money Tips Thu, 09 Feb 2012 02:31:24 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: Carnival of Wealth Building #7 · Equity Loan Advice http://kclau.com/wealth-management/how-much-is-adequate-for-emergency-fund/comment-page-1/#comment-152996 Carnival of Wealth Building #7 · Equity Loan Advice Sun, 29 Aug 2010 17:08:02 +0000 http://kclau.com/2007/06/26/how-much-is-adequate-for-emergency-fund/#comment-152996 [...] presents How Much is Adequate for Emergency Fund posted at KCLau's Money Tips. If you are putting more money at low risk and liquid account, [...] [...] presents How Much is Adequate for Emergency Fund posted at KCLau's Money Tips. If you are putting more money at low risk and liquid account, [...]

]]> By: 3 Alternative financial resources that can help you eliminate your credit card debt http://kclau.com/wealth-management/how-much-is-adequate-for-emergency-fund/comment-page-1/#comment-23916 3 Alternative financial resources that can help you eliminate your credit card debt Sun, 24 Feb 2008 22:02:59 +0000 http://kclau.com/2007/06/26/how-much-is-adequate-for-emergency-fund/#comment-23916 [...]  Handy during emergency [...] [...]  Handy during emergency [...]

]]> By: Analyze Income & Expenses Flow in Your Life with Practical Advices |CASHFLOW RESEARCH http://kclau.com/wealth-management/how-much-is-adequate-for-emergency-fund/comment-page-1/#comment-2014 Analyze Income & Expenses Flow in Your Life with Practical Advices |CASHFLOW RESEARCH Sun, 16 Sep 2007 23:01:11 +0000 http://kclau.com/2007/06/26/how-much-is-adequate-for-emergency-fund/#comment-2014 [...] Build up an adequate emergency fund. Losing a job is just a temporary issue. If you still have your ability and skill set, getting a [...] [...] Build up an adequate emergency fund. Losing a job is just a temporary issue. If you still have your ability and skill set, getting a [...]

]]> By: Relax http://kclau.com/wealth-management/how-much-is-adequate-for-emergency-fund/comment-page-1/#comment-1243 Relax Fri, 17 Aug 2007 14:39:48 +0000 http://kclau.com/2007/06/26/how-much-is-adequate-for-emergency-fund/#comment-1243 30-50 days is too long when war or racial riot hit Malaysia. Even shops will not take credit cards and a lot of things will freeze. I was in an emergency situation where I lost my wallet and I have to travel across a country to get back home. By that time, credit card also no more, what can you do if you depend a lot of credit card? (I escaped such disaster through my traveling cheque) 30-50 days is too long when war or racial riot hit Malaysia. Even shops will not take credit cards and a lot of things will freeze.

I was in an emergency situation where I lost my wallet and I have to travel across a country to get back home.
By that time, credit card also no more, what can you do if you depend a lot of credit card?

(I escaped such disaster through my traveling cheque)

]]> By: kclau http://kclau.com/wealth-management/how-much-is-adequate-for-emergency-fund/comment-page-1/#comment-502 kclau Wed, 11 Jul 2007 23:31:45 +0000 http://kclau.com/2007/06/26/how-much-is-adequate-for-emergency-fund/#comment-502 Bob, thanks for your thoughtful comment. The point about emergency turning into a disaster really opened my mind about the way I treat emergency situation. In Malaysia, there are not much natural disaster all these while. No earth quake, no hurricane. But it still got hit with Tsunami and the big flood resulted from non-stop heavy rain. My area is not affected but keeping that in mind in terms of emergency need is really necessary. Thanks for dropping by :) Bob, thanks for your thoughtful comment. The point about emergency turning into a disaster really opened my mind about the way I treat emergency situation. In Malaysia, there are not much natural disaster all these while. No earth quake, no hurricane. But it still got hit with Tsunami and the big flood resulted from non-stop heavy rain. My area is not affected but keeping that in mind in terms of emergency need is really necessary.
Thanks for dropping by :)

]]> By: bob parker http://kclau.com/wealth-management/how-much-is-adequate-for-emergency-fund/comment-page-1/#comment-495 bob parker Wed, 11 Jul 2007 16:36:42 +0000 http://kclau.com/2007/06/26/how-much-is-adequate-for-emergency-fund/#comment-495 Your plan for a 30-50 day liquidation and using credit cards makes a couple of valid assumptions, that I would like to emphasize for others: 1) Make sure you have good credit. That primarily includes having credit available on your credit cards. Having reviewed over 1,100 credit reports. Your score is more dependent on how much credit you have available of your credit line. Having lots of credit cards is not bad. Having lots of credit cards 'filled up' is. This can take some time to manage - getting the right cards, paying off the ones you have, occasionally using them all (once a year is fine). But so is all wealth management. 2) Pay attention to your situation. The problem with most disasters is that people do not realize when a situation turned into an emergency. Next thing you know it is a disaster (this happens on a personal level as well as a national level - see Hurricane Katrina). If you do not react for a few weeks on an emergancy, your 30-50 day window can get real tight. If you are paying attention to your situation, this is plenty of time. Your plan for a 30-50 day liquidation and using credit cards makes a couple of valid assumptions, that I would like to emphasize for others:

1) Make sure you have good credit. That primarily includes having credit available on your credit cards. Having reviewed over 1,100 credit reports. Your score is more dependent on how much credit you have available of your credit line. Having lots of credit cards is not bad. Having lots of credit cards ‘filled up’ is. This can take some time to manage – getting the right cards, paying off the ones you have, occasionally using them all (once a year is fine). But so is all wealth management.

2) Pay attention to your situation. The problem with most disasters is that people do not realize when a situation turned into an emergency. Next thing you know it is a disaster (this happens on a personal level as well as a national level – see Hurricane Katrina). If you do not react for a few weeks on an emergancy, your 30-50 day window can get real tight. If you are paying attention to your situation, this is plenty of time.

]]> By: How I Save Money.net » Blog Archive » Festival of under 30 finances…June 29th edition http://kclau.com/wealth-management/how-much-is-adequate-for-emergency-fund/comment-page-1/#comment-340 How I Save Money.net » Blog Archive » Festival of under 30 finances…June 29th edition Fri, 29 Jun 2007 15:13:08 +0000 http://kclau.com/2007/06/26/how-much-is-adequate-for-emergency-fund/#comment-340 [...] presents How Much is Adequate for Emergency Fund posted at KCLau’s Money Tips, saying, “If you are putting more money at low risk and [...] [...] presents How Much is Adequate for Emergency Fund posted at KCLau’s Money Tips, saying, “If you are putting more money at low risk and [...]

]]> By: How to Solve Money Worries Blog Carnival http://kclau.com/wealth-management/how-much-is-adequate-for-emergency-fund/comment-page-1/#comment-339 How to Solve Money Worries Blog Carnival Fri, 29 Jun 2007 15:11:31 +0000 http://kclau.com/2007/06/26/how-much-is-adequate-for-emergency-fund/#comment-339 [...] presents How Much is Adequate for Emergency Fund posted at KCLau’s Money [...] [...] presents How Much is Adequate for Emergency Fund posted at KCLau’s Money [...]

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