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More on the bed fund.

September 8th, 2006 at 02:21 pm

I started thinking about this more and have decided to start diverting any extra cash I earn to my currently non-existant bed fund. So not only babysitting money, but any mystery shops, any odd jobs, any paid surveys, any paid to click/read payouts, etc will go into this bed fund. I have about a year to build it soley on that sporatic extra income. I think I can do it. I will continue to put money regularly into EF savings, anything that I sell will go to my EF savings since it was originally something I spent money on. It's the best way I can think of to differenciate between what should go in as an emergency and what should be saved for a needed big ticket item.

3 Responses to “More on the bed fund.”

  1. LuxLiving Says:

    Divide and Conquer - I like it!!

  2. Champion Cheapskate Says:

    You probably regularly search for the banks, s&ls and credit unions with the highest interest rates. If not, you may not maximize the return on your EF savings. Talk about money for nothing Smile

  3. ldyfaile Says:

    Champion Cheapskate Says:
    September 9th, 2006 a 13:54:31

    You probably regularly search for the banks, s&ls and credit unions with the highest interest rates. If not, you may not maximize the return on your EF savings. Talk about money for nothing Smile

    Agreed. I have most of my EF at ING, I know Emigrant's got a higher interest rate but I just don't feel like moving it. The rest of my EF is local and tied directly to my checking as the overdraft account. I need to keep some in there for imediate emergencies since ING takes two business days to transfer.

    The Bed Fund will go in a new Emigrant account. Which should also return a nice profit.

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