What is an efund?

iVillage Member
Registered: 07-05-2006
What is an efund?
3
Fri, 12-12-2008 - 10:31pm

I've heard this term a few times here. Is it just an online bank account? Like ING?


Abbie

iVillage Member
Registered: 06-03-2006
Fri, 12-12-2008 - 10:45pm
I believe it is "emergency fund".
iVillage Member
Registered: 09-07-2003
Sun, 12-14-2008 - 12:34am

PP is correct... its an emergency fund.... I think most of the "experts" and the people here agree, as you're actively paying off debt you need about $1000 minimum in easily accessible cash.


More then $1000 if:

Teresa
http://www.affordingpickles.blogspot.com

iVillage Member
Registered: 02-01-2008
Sun, 12-14-2008 - 8:04am

I'm trying to follow the Dave Ramsey plan. I have an emergency fund (efund) of $1,000 in an INGDIRECT saving account ("out-of- sight/out-of-mind"). Yesterday I got an unexpected bill for $490 from my daughter's college. My first thought was to write a check from my home equity line of credit (HELOC). Then I remembered the efund. I just transferred the money this morning. It takes 2-3 business days before it will be in my checking account. Now I must stop paying extra to my Visa and HELOC until I've built my efund back to $1,000.

Mary Jo