Have you keeping any amount separately as an Emergency fund ?

Yeah, one should be disciplined in putting up the emergency fund and using it according to its purpose only. If it is used to stuff other than an emergency, its essence is removed and the purpose gone already.

Thank you Gulaman for your comments. You know the meaning of the emergency fund. In this world job security is not there in private sector. Due to recession and all some time suddenly the people may loss their job. In between to get the new job, during that gap of time people need to pay bills, rent etc. During that time also the emergency fund will help them. Have a nice day.

Hi Raja, I am fine and thank you for asking. I am trying my best to reduce the expenditure. But the real problem is kid’s education is so costly here, which is eating the lion share of our earning. We have to provide good education to them and can’t compromise on that. As you said, we are happy on giving a good platform to them.

Hi Sreekala, how are you? i agree that cost of living is increased. But our earning is not increasing. But to make some emergency fund, why can't you reduce some expenses. If you want to make Potato curry for Chappathi, earlier you may take 4 Potato, now what can't you reduce to 3 Potago. Such a way you may try to reduce the expense in other expense also. Another I will tell you What Dalai Lama told that all the people are very crazy to make money by doing very hard work but they will not use a single paise for themself. But they are saving and investing not for them but for their children. What every we save it is not for us but for our children only. Small amount of your saving will be very beneficial for your children when they grown up or for their education, job, business etc. I think that feel will be very happy for any parents, am I right? Have a nice day.

Thank you for your comments Mr.Ravisivan, Actually I meant for the discussion to have the people to keep some money for emergency fund. This is not a recurring deposit for the future purpose. I have experienced several times that after 20th I will not have a single Rupee. Some time in month end I was struggle to have money for the doctor fees and medicine. In one occasion I had asked the school authority to pay some amount for the child's science exhibition etc. During that I had to borrow from my friends. In these occasion the emergency fund will help us. The money put in this account will not take if the matter is not that much emergency. Have a nice day Sir, thank you for welcoming to the Mylot.

I am sorry to hear that you are struggling. I too am struggling, my boyfriend just got laid off from his job two months ago and he works in a very specialized field so it is not easy for him to just go out and find another job quick. Add to that my computer crashed and the one that I am using now will not allow me to do the work that I do online, so I am broke too and in need of another computer. Through it all though God keeps blessing us, giving us just exactly what we need at the precise moment that we need it. We too are lucky to have a roof over our head and keeping it there next month is a constant concern. Keep your faith, don't give way to doubts or fears. Just trudge through what you gotta trudge through to come out the other side stronger and better for it!

Hello Mam, I agree that now a days what ever we earn the money which will not be sufficient for a family spending. Every penny has to be spend in the particular month without keeping any balance. Living cost is too high. Our own expence we can cut down but children's school expense we have to accept. But I suggest you what ever it may be your earning keep at least 1% of your income in separately. Please do not touch it. If there is no any emergency occured, it will be help you after some months or year. Just start to keep at least 1 dollar per month. If anyone in your family is smoking then at least one packet sigar cost to be saved. Let us try. God Bless you. Have a nice day.

My little ones aren't in school but diapers and pull ups aren't cheap these days and neither is milk and formula. I don't work I"m a stay at home mom and we can't put any money and side for anything at all, everything goes to the kids, rent, food, clothes and other bills that we have. Zero money is saved right now because we moved 10 weeks ago when my son was 6 months old. We live off of WIC, family, and we medicaid for our children. Nobody smokes in my house it's a nasty habit. Not every family can put money a side as you think they can it's not easy all of the time to do that when you live off of $8/hr.

Thank you for your comments. Please start to have an account. If you are not possible to keep the account then keep some thing in the Piggy Box. Have a nice day.

Jenny. Thanks for the comments. I feel the person is not having job and to do the part time job. But still you are keeping some money from your online shop earning. Great. Do not take the money back if it is not that much emergency. Which is your online shop? Any way have a nice day.

I am very much happy after reading my discussion point you are thinking to have an emergency fund. God bless you to get a good job soon. To keep some small money there is no need to get a Good job. Have a nice day.

Thanks for your comments. At least you know the problem if the money was not there in month end. May be initially you may have trouble to keep some money separately. But when an emergency comes you will understood the need of an emergency fund. Thank you and have a nice day.