Comments on: Cash Flow Crunch http://blog.canadian-dream-free-at-45.com/2008/11/12/cash-flow-crunch/ Tue, 07 Feb 2012 18:14:07 +0000 hourly 1 http://wordpress.org/?v=3.1 By: Canadian Dream http://blog.canadian-dream-free-at-45.com/2008/11/12/cash-flow-crunch/comment-page-1/#comment-14657 Canadian Dream Thu, 13 Nov 2008 11:50:11 +0000 http://blog.canadian-dream-free-at-45.com/?p=560#comment-14657 Jordan, Ah you forget I don't keep cash for an emergency fund (until recently where I've started keeping some). Also the loan from the Christmas fund is going to be for about 15 days so even if I did have cash in an emergency fund I might not even use it for something so minor. Tim Jordan,

Ah you forget I don’t keep cash for an emergency fund (until recently where I’ve started keeping some). Also the loan from the Christmas fund is going to be for about 15 days so even if I did have cash in an emergency fund I might not even use it for something so minor.

Tim

]]> By: Cash Canuck http://blog.canadian-dream-free-at-45.com/2008/11/12/cash-flow-crunch/comment-page-1/#comment-14618 Cash Canuck Thu, 13 Nov 2008 02:02:21 +0000 http://blog.canadian-dream-free-at-45.com/?p=560#comment-14618 I maintain a minimum balance to avoid paying monthly fees at my bank. If I screw up my math and the balance dips below $3000, I get dinged for one month's worth fees. I guess that's my punishment for not watching my spending more closely (I've only done it once since I opened that account). I maintain a minimum balance to avoid paying monthly fees at my bank. If I screw up my math and the balance dips below $3000, I get dinged for one month’s worth fees. I guess that’s my punishment for not watching my spending more closely (I’ve only done it once since I opened that account).

]]> By: Mintycake http://blog.canadian-dream-free-at-45.com/2008/11/12/cash-flow-crunch/comment-page-1/#comment-14582 Mintycake Wed, 12 Nov 2008 17:52:42 +0000 http://blog.canadian-dream-free-at-45.com/?p=560#comment-14582 It happened once, about 6 years ago. I was agressively paying down my mortgage and I overspent on my credit card. I had a choice: pay my minimum mortgage payment or pay the credit card. Since I never carry a balance on my card I paid off my card and used my line of credit at the bank to cover my mortgage payment. I bridged it at my next paycheque but it still burned me I had to use my LOC. After that I made sure to watch my credit card spending - If I don't have the money in the bank to cover the purchase, I don't buy it! It happened once, about 6 years ago. I was agressively paying down my mortgage and I overspent on my credit card. I had a choice: pay my minimum mortgage payment or pay the credit card. Since I never carry a balance on my card I paid off my card and used my line of credit at the bank to cover my mortgage payment. I bridged it at my next paycheque but it still burned me I had to use my LOC. After that I made sure to watch my credit card spending – If I don’t have the money in the bank to cover the purchase, I don’t buy it!

]]> By: Jordan Clark http://blog.canadian-dream-free-at-45.com/2008/11/12/cash-flow-crunch/comment-page-1/#comment-14579 Jordan Clark Wed, 12 Nov 2008 17:44:58 +0000 http://blog.canadian-dream-free-at-45.com/?p=560#comment-14579 Why would you have to borrow the money from your Christmas fund? Isn't that the reason to have an emergency fund? In times where we've busted our budget (it's happened a couple times this year) that's where the extra money has come from. Then we tighten things down for a month or two and pay it back. It's the same thing as you're doing, it just sounds a bit harsher because if something prevented you paying it back you're sort of saying Christmas is cut. Why would you have to borrow the money from your Christmas fund? Isn’t that the reason to have an emergency fund?

In times where we’ve busted our budget (it’s happened a couple times this year) that’s where the extra money has come from. Then we tighten things down for a month or two and pay it back.

It’s the same thing as you’re doing, it just sounds a bit harsher because if something prevented you paying it back you’re sort of saying Christmas is cut.

]]> By: Frog of Finance http://blog.canadian-dream-free-at-45.com/2008/11/12/cash-flow-crunch/comment-page-1/#comment-14578 Frog of Finance Wed, 12 Nov 2008 17:44:08 +0000 http://blog.canadian-dream-free-at-45.com/?p=560#comment-14578 That's why I have an emergency fund. I use it as a buffer when an unexpected cash shortage happens. I usually put the money back within a month or two. That’s why I have an emergency fund. I use it as a buffer when an unexpected cash shortage happens. I usually put the money back within a month or two.

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