Where do you keep your emergency fund?

Sea_Shell

talexuser wrote: »

In a wooden box, under the bed, which I get out every night and gleefully count the gold with my fingerless gloves by the flickering light of a single faltering candle.



.

You've got me humming a tune now....

"In this life, one thing counts, in the bank, large amounts";)

iglad

benbay001 wrote: »

I seem to have a mental block to allowing money to accumulate in my current account.
Whenever I reach payday and have more than £1k in my account, I get the urge to move it into my S&S ISA.


Not the biggest sin in the world, and i would be willing to remove it at a loss, if a genuine emergency arose.
But i cant help but feel there are more appropriate places to save an easy access £3k or so.


Where do you keep your emergency fund?

Mine goes into a Marcus account.

Vet

Everything that is outside of investments or high interest current accounts is either in premium bonds or marcus for me.

iglad

benbay001 wrote: »

I seem to have a mental block to allowing money to accumulate in my current account.
Whenever I reach payday and have more than £1k in my account, I get the urge to move it into my S&S ISA.


Not the biggest sin in the world, and i would be willing to remove it at a loss, if a genuine emergency arose.
But i cant help but feel there are more appropriate places to save an easy access £3k or so.


Where do you keep your emergency fund?

That's a great block to have it's pity more people don't suffer from it.

foofi22

Ours in a joint Club Lloyds account. It is also where all our household expenses come out from. Interest rates were much better than they are now, but there aren't really any massively better options at the moment, so will most likely keep it as-is. The cinema tickets are a nice bonus though!

badger09

talexuser wrote: »

In a wooden box, under the bed, which I get out every night and gleefully count the gold with my fingerless gloves by the flickering light of a single faltering candle.



No need to get worked up, if your ISA has a competative rate and is a flexible one you can now withdraw and replace in the same tax year, so is fine as an emergency fund. I too only leave a grand in the current account I actually use and move the excess not needed every month.

OP said S&S ISA;)

I don't actually have an emergency fund, as I don't need one. If I did, I wouldn't choose S&S ISA to keep it in.

There are still several interest paying current accounts, or somewhere like Marcus, which I would suggest are more suitable.

MaxiRobriguez

In a current account, which I don't ever touch, which offsets the majority of our mortgage.

I keep about a consistent £200 in the bank account for daily spending needs.

Sea_Shell

How much emergency cash do you all actually keep as CASH (holding folding) and where do you keep it? Your wallet, in a tin, in a safe etc?

Rightly or wrongly, we've never got much actual cash on us (we hardly spend any), currently about £35 between us.

This could blow up in our face if the electronic systems went hay-wire (that sort of emergency), but then if we had £100-200 at home in cash, we're potentially losing interest on it and there's the theft risk too.

Doshwaster

My emergency fund is made up of

1. Around £10k kept in a cash ISA (recently moved from Nationwide to Tesco). Anything beyond that goes into long term investments which (so far) I have never touched.

2. About £1000 in instant access savings for any one-off expenses beyond the monthly budget.

3. Keep a credit card with a £5000 limit on it hidden away at home. I just pay an annual subscription on it to keep it alive.

4. About £100 in cash (plus a few dollars and Euros) in my travel wallet.

Zero_Sum

Sea_Shell wrote: »

How much emergency cash do you all actually keep as CASH (holding folding) and where do you keep it? Your wallet, in a tin, in a safe etc?

Rightly or wrongly, we've never got much actual cash on us (we hardly spend any), currently about £35 between us.

This could blow up in our face if the electronic systems went hay-wire (that sort of emergency), but then if we had £100-200 at home in cash, we're potentially losing interest on it and there's the theft risk too.

Im the same, i have several current accounts (interest bearing ones with enough in to cover absolute emergencies) so if another TSB incident were to happen, I have other bank accounts to call upon. Obviously in the event of a nuclear/zombie apocolypse there'll be no need for cash anyway.