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Emergency fund/ Christmas fund

Emergency fund/ Christmas fund

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  • Mommy2Matthias Mommy2Matthias's Avatar 01-14-07 | 04:37 PM
  • We are making a real effort to make a budget and most of all...stick to it.

    So we have decided to have an emergency fund and a christmas fund...so my question is this...do you make 2 seperate accounts for those 2 things? BF says we'll have it on paper but put it all into the savings account...to me, that just doesn't make a whole lot of sense. What would you guys suggest?
  • skyqueen skyqueen's Avatar 01-14-07 | 05:39 PM
  • I would say that it doens't have to be in seperate accounts. Paper should be just fine. You should easily know how much of the money is for Christmas each year as you set aside a certain $ amount each month specifically for that, right?
  • Mommy2Matthias Mommy2Matthias's Avatar 01-14-07 | 05:43 PM
  • I guess so...I just want it to require as little thought as possible LOL
  • the_littleminx the_littleminx's Avatar 01-14-07 | 06:40 PM
  • I'd think two accounts would be confusing. So long as you keep good records of how much you put in for each fund you should be okay to have just one savings account. IMO
  • Linnylou 01-14-07 | 09:00 PM
  • We use part of our saving account as our emergency fund. This year we started a seperate "chirstmas club" account with our bank.