Comments on: Best Investment for 2009: Use your Emergency Fund to pay off your debt http://www.gatherlittlebylittle.com/2009/10/best-investment-for-2009-use-your-emergency-fund-to-pay-off-your-debt/ Proverbs 13:11 - "...he who gathers money little by little makes it grow." Wed, 08 Feb 2012 18:29:01 +0000 hourly 1 By: eemusingshttp://www.gatherlittlebylittle.com/2009/10/best-investment-for-2009-use-your-emergency-fund-to-pay-off-your-debt/#comment-12702 eemusings Mon, 09 Nov 2009 22:19:55 +0000 http://www.gatherlittlebylittle.com/?p=2344#comment-12702 I'd never be comfortable totally depleting my EF. I definitely think there are great arguments for using it to pay down debt, but you always need a cash reserve - as Bret above says, once your cash is gone, it's gone. I’d never be comfortable totally depleting my EF. I definitely think there are great arguments for using it to pay down debt, but you always need a cash reserve – as Bret above says, once your cash is gone, it’s gone.

]]> By: Bret @ Hope to Prosperhttp://www.gatherlittlebylittle.com/2009/10/best-investment-for-2009-use-your-emergency-fund-to-pay-off-your-debt/#comment-12695 Bret @ Hope to Prosper Mon, 09 Nov 2009 19:01:01 +0000 http://www.gatherlittlebylittle.com/?p=2344#comment-12695 Having been laid off twice in the last decade, I can definitely say there is no substitute for cash, when times are tough. If you have an emergency fund, I recommend you hold onto it. And, if you have debt, make a plan to pay it off. Because, once your cash is gone, you can't get it back when you need it. Having been laid off twice in the last decade, I can definitely say there is no substitute for cash, when times are tough. If you have an emergency fund, I recommend you hold onto it. And, if you have debt, make a plan to pay it off. Because, once your cash is gone, you can’t get it back when you need it.

]]> By: Carnival of Personal Finance #230 : Carnival of Personal Financehttp://www.gatherlittlebylittle.com/2009/10/best-investment-for-2009-use-your-emergency-fund-to-pay-off-your-debt/#comment-12688 Carnival of Personal Finance #230 : Carnival of Personal Finance Mon, 09 Nov 2009 15:08:18 +0000 http://www.gatherlittlebylittle.com/?p=2344#comment-12688 [...] are the Editor’s Picks: Gather Little By Little: Best Investment for 2009: Use your Emergency Fund to pay off your debt Bible Money Matters: The Great Big List Of 75 Budgeting Tools, Finance Softwares And Iphone Money [...] [...] are the Editor’s Picks: Gather Little By Little: Best Investment for 2009: Use your Emergency Fund to pay off your debt Bible Money Matters: The Great Big List Of 75 Budgeting Tools, Finance Softwares And Iphone Money [...]

]]> By: Carnival of Personal Finance #230 – New Site Edition - Canadian Finance Bloghttp://www.gatherlittlebylittle.com/2009/10/best-investment-for-2009-use-your-emergency-fund-to-pay-off-your-debt/#comment-12683 Carnival of Personal Finance #230 – New Site Edition - Canadian Finance Blog Mon, 09 Nov 2009 10:03:51 +0000 http://www.gatherlittlebylittle.com/?p=2344#comment-12683 [...] @ GLBL from Gather Little By Little presents Best Investment for 2009: Use your Emergency Fund to pay off your debt, and says, “Just by writing this title, I already know that people won't agree with this [...] [...] @ GLBL from Gather Little By Little presents Best Investment for 2009: Use your Emergency Fund to pay off your debt, and says, “Just by writing this title, I already know that people won’t agree with this [...]

]]> By: Wednesday’s Trends in Credit Cards & Your Debt | Credit Karma Bloghttp://www.gatherlittlebylittle.com/2009/10/best-investment-for-2009-use-your-emergency-fund-to-pay-off-your-debt/#comment-12581 Wednesday’s Trends in Credit Cards & Your Debt | Credit Karma Blog Wed, 04 Nov 2009 19:55:04 +0000 http://www.gatherlittlebylittle.com/?p=2344#comment-12581 [...] Little By Little recommends using your emergency fund to pay off your debt. Topic: Credit Cards, Debt, In the News, Roundup SHARETHIS.addEntry({ title: "Wednesday’s [...] [...] Little By Little recommends using your emergency fund to pay off your debt. Topic: Credit Cards, Debt, In the News, Roundup SHARETHIS.addEntry({ title: "Wednesday’s [...]

]]> By: Craighttp://www.gatherlittlebylittle.com/2009/10/best-investment-for-2009-use-your-emergency-fund-to-pay-off-your-debt/#comment-12455 Craig Thu, 29 Oct 2009 15:07:54 +0000 http://www.gatherlittlebylittle.com/?p=2344#comment-12455 It's interesting this debate would come up. Some would ensure never to spend your emergency fund, and others would say an emergency fund should not even be started if you already have debt. If it is bad debt like CC debt, then you definitely should use the fund towards it. It’s interesting this debate would come up. Some would ensure never to spend your emergency fund, and others would say an emergency fund should not even be started if you already have debt. If it is bad debt like CC debt, then you definitely should use the fund towards it.

]]> By: fwisp.comhttp://www.gatherlittlebylittle.com/2009/10/best-investment-for-2009-use-your-emergency-fund-to-pay-off-your-debt/#comment-12453 fwisp.com Thu, 29 Oct 2009 14:45:31 +0000 http://www.gatherlittlebylittle.com/?p=2344#comment-12453 <strong>Best Investment for 2009: Use your Emergency Fund to pay off your debt...</strong> Just by writing this title, I already know that people won't agree with this strategy. How can you tell people to get rid of their emergency fund while we are in one of the most important recessions ever? So please, keep reading until the end of the po... Best Investment for 2009: Use your Emergency Fund to pay off your debt…

Just by writing this title, I already know that people won’t agree with this strategy. How can you tell people to get rid of their emergency fund while we are in one of the most important recessions ever? So please, keep reading until the end of the po…

]]> By: ABCs of Investinghttp://www.gatherlittlebylittle.com/2009/10/best-investment-for-2009-use-your-emergency-fund-to-pay-off-your-debt/#comment-12450 ABCs of Investing Thu, 29 Oct 2009 13:35:09 +0000 http://www.gatherlittlebylittle.com/?p=2344#comment-12450 I agree - if you have high interest debt then your emergency fund becomes very expensive to have. Nothing wrong with a small one (ie $2k) but any more than that and you are throwing money away. On the other hand if your debts have lower interest rates, say 7% or less then keeping money in an EF is not so expensive and it's ok to have a bit more. I agree – if you have high interest debt then your emergency fund becomes very expensive to have. Nothing wrong with a small one (ie $2k) but any more than that and you are throwing money away.

On the other hand if your debts have lower interest rates, say 7% or less then keeping money in an EF is not so expensive and it’s ok to have a bit more.

]]> By: Jameshttp://www.gatherlittlebylittle.com/2009/10/best-investment-for-2009-use-your-emergency-fund-to-pay-off-your-debt/#comment-12449 James Thu, 29 Oct 2009 13:13:25 +0000 http://www.gatherlittlebylittle.com/?p=2344#comment-12449 I agree with you. Debt essentially makes us a slave to the one who provides the loan. Better reimburse your credit card bills and debt. Need to be disciplined and invest wisely once that done but we must always hope and firmly rely on God's goodness and mercy and love to see us through the difficult times in life. I agree with you. Debt essentially makes us a slave to the one who provides the loan. Better reimburse your credit card bills and debt. Need to be disciplined and invest wisely once that done but we must always hope and firmly rely on God’s goodness and mercy and love to see us through the difficult times in life.

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