http://blog.lendingclub.com/2009/06/05/an-alternative-to-emergency-funds/ The Official Lending Club blog Sun, 29 Jan 2012 13:31:47 +0000 hourly 1 http://blog.lendingclub.com/2009/06/05/an-alternative-to-emergency-funds/#comment-1374 Jessica W Tue, 09 Jun 2009 21:22:42 +0000 http://blog.lendingclub.com/?p=1136#comment-1374 I do this also, but I save with SmartyPig. My expenses are automatically moved over to the account with the name. For instance, I know that by the end of this year I have to file re-adoption papers for my daughter (who was adopted abroad but must be finalized in the US). We've got an acocunt set up and automatically Smarty Pig moves a set amount every month. It's totally automated and earns 3.09% interest--far better than ING. We're paying off a couple of debts and then will have "new car fund" set up the same way as well as "current car repairs" Hope that helps, Jessica I do this also, but I save with SmartyPig. My expenses are
automatically moved over to the account with the name. For
instance, I know that by the end of this year I have to file
re-adoption papers for my daughter (who was adopted abroad but must
be finalized in the US). We've got an acocunt set up and
automatically Smarty Pig moves a set amount every month. It's
totally automated and earns 3.09% interest--far better than ING.
We're paying off a couple of debts and then will have "new car
fund" set up the same way as well as "current car repairs" Hope
that helps, Jessica

]]> http://blog.lendingclub.com/2009/06/05/an-alternative-to-emergency-funds/#comment-1373 Matt Jabs Fri, 05 Jun 2009 19:25:09 +0000 http://blog.lendingclub.com/?p=1136#comment-1373 Excellent point, I do both. I create savings funds (in ING) called gifts, car insurance, etc. Any irregular expense has its own fund. I then contribute an "average" amount to each, pay bills as they arrive, transfer necessary funds into checking, wash, rinse, repeat. I simultaneously fund our emergency fund with a certain amount each month. It has been a blessing several times. I'm a big fan of wisely combining both ideas. Excellent point, I do both. I create savings funds (in ING) called
gifts, car insurance, etc. Any irregular expense has its own fund.
I then contribute an "average" amount to each, pay bills as they
arrive, transfer necessary funds into checking, wash, rinse,
repeat. I simultaneously fund our emergency fund with a certain
amount each month. It has been a blessing several times. I'm a big
fan of wisely combining both ideas.

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