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Buffer

September 8th, 2012 at 11:47 pm

I used to keep a buffer of $1000 in my bill paying account. Kinda baby emergency fund, a la Dave Ramsey. Now that I have almost $10,000 in my FFEF that is unnecessary. I decided to keep $500 in there, as that is roughly the amount of my monthly bills, and transferred the rest to my Financial Independence account.

3 Responses to “Buffer”

  1. patientsaver Says:

    I'm trying to rebuild my so-called emergency fund in an online account; i think i have a few thousand in there, but in my checking account, I usually feel I'm covered with $5,000 or more in there, which is really more than I need. since i don't earn interest in the checking acct and there are no minimum account balnace requirements, i should really try to minimize the running balance and bring it down to maybe $3,000-$4,000 on average.

  2. Jerry Says:

    Isn't it nice to have developed accounts that lead to a backup for your backup!? That kind of financial redundancy is the best insurance against future fiscal stressors... great job!
    Jerry

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