In need of a new name...

mickeyd

Give me a museum and I'll fill it. (Picasso) Give me a forum ...
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Most posters here and other financial forums seem to generally understand what an "emergency fund" is and how it fits into one's asset allocation.

I have had an emergency fund long before I realized it or long before it had a name. I think I used to call it my back-up money, or something like that. By the time that I fell in line with everyone else and named it my emergency fund, I was only a few years from retirement.

Now that I am ERd it really is no longer an emergency fund so I need to call that chunk of cash something else. So far, "cushon fund" is the best that I can come up with, but that handle still seems to fall short.

What other name for "emergency fund" have you folks come up with for this chunk of change?
 
I think of it as "Ohsh!t money". As in, Oh Sh!t I need some cash right now...
 
That's just our "short term fund". We keep enough for 1 to 2 years in living expenses in a separate account from our retirement portfolio.

Audrey
 
That's just our "short term fund".  We keep enough for 1 to 2 years in living expenses in a separate account from our retirement portfolio. Audrey

I did an audit of my life's emerency expenses before  I retried. Came to a suprisingly paltry amount and almost all of those "Gotcha" and "Oh shirt!" expenses were directly related to having a job in the first place. Heavily oriented towards cars, traveling, finding a place to live, somebody dying 6 thousand miles away.

I keep about 40 grand over and above my "regular money"  in case I ever need to buy something that runs over my annual expenses. This has not happened in 10 yrs but ya never know.

And in a further separate account I keep enough money to cover forcastable, large, one-time expenses, like my next car.

I can't let it dent my living money when it comes time to spend ity but I can't all it emergency money either.

As far as what to call these "emergency funds" .. in the Military they have a term for money you can spend that isn't voted on by congress and is not part of the regular military budget.  "Non-Appropriated Funds". Slush fund.  Money comes from different sources so that you don't have to take a B-52 offline  just because the General wants new office furniture

I just call it "my other money", or "The money I don't count"
 
razztazz said:
As far as what to call these "emergency funds" .. in the Military they have a term for money you can spend that isn't voted on by congress and is not part of the regular military budget.  "Non-Appropriated Funds". Slush fund.  Money comes from different sources so that you don't have to take a B-52 offline  just because the General wants new office furniture
In my version of the military (Navy), NAF is the money that's raised by non-appropriated services... it comes from user fees, retail sales, or other fundraising activities. Once in a while there's even enough money left over to set off a holiday fireworks display or throw a base party.

When a submarine breaks you don't just dip into the slush funds. You send off a casualty report (CASREP) that lets the whole system know that you're broke and need money. Then the logistics guys cannibalize find the money to get you fixed, and later use your CASREP to get additional funding and incidentally to improve the quality of whatever broke. Otherwise everyone has to fix their own ragged gear while the logistics guys think that we're just mishandling their valuable equipment and the manufacturer gets away with blissful ignorance.

Office furniture is a different story. In the Navy we steal it from the Air Force and give our old stuff to the Army.
 
Contingency Fund
An amount kept in reserve to guard against possible losses/unforeseen expenses
 
Nords said:
In the Navy we steal it from the Air Force and give our old stuff to the Army.

I was wonderning how we were always able to requisition new stuff without a problem  ;)
 
I've heard it called the "FU Money" for the not yet REed because you need it when that's what you tell the boss :D
 
Navy, sure must have been proud, of those three legged milk stools, they got from the Air Force. :LOL:
 
WAM = Walking Around Money. Just a suggestion works fine. Put "WAM" in the check memo area or the wihdrawal slip - you will know what it was (assuming you spend it; or is if you do not).
 
I call it 'CASH' - because that is what it is. - Whether it's in a MM fund or Savings Account.

When you start withdrawing from you portfolio, you should decide on a time period that your cash will cover. Whether it's 2 years living expenses or 4 years or ? - Funding this Cash account during 'Up' Market years will keep you from selling in down market years.
 
Cut-Throat said:
I call it 'CASH' - because that is what it is.  - Whether it's in a MM fund or Savings Account.

When you start withdrawing from you portfolio, you should decide on a time period that your cash will cover. Whether it's 2 years living expenses or 4 years or ? - Funding this Cash account during 'Up' Market years will keep you from selling in down market years.

Ditto. It strictly is my cash component for 2-3 yrs, maybe 4 years expenses and is in MMF, ISA, etc.
 
How about "Suit Moving Money"?

There is a local state senator who is friendly to law enforcement labor relations issues. His weakness is that he chases beautiful women, even when he has one at home that he's married to. During one of his marriages he and the wife went on a vacation and the step kids had a big bash while the 'rents were away. One of the partiers helped himself to some valuables and when ma and pa came home they called the police. So the cops show up (and of course they know him and this story gets out). Mr. Senator is still trying to figure out what all is missing as the cops trail him through the crib. He suddenly goes to his closet where he had his vast collection of lawyer/senator suits (much more than the average person, or so the story goes).

He starts digging through the pockets of one suit and then exclaims "Damn, they got my suit moving money!" Mr. Senator had come home more than once to find that his presence was no longer desired, and the joint bank accounts had all been cleaned out. So, he had made the habit of keeping $5,000 in cash in an old suit so if he ever had to move out under such circumstances he wouldn't be dead broke. He said the ex's always let him take the suits when he explained he couldn't work to make the alimony and child support money without the proper attire. He started that after being forced to live on some friend's sofa for a month during his first divorce. "I've had to pack up and move my suits a few times over the years. It's always better to have a little cash handy so at least I can shack out at the Holiday Inn rather than sleeping on somebody's stinky couch.
 
What-If money? (What if I have en expense I didn't expect!)

Just-in-case account? (Just in case my investments blow up!)

Whoopee cushion? (Sounds fun!)

French Fund? (I figure if our govt can call French fries "freedom fries," I can call my Freedom Fund my French Fund--for the sake of balance ;) )
 
Thanks so much for all of your ideas folks! :D

So far, I prefer contingency fund as my new name.

I already call what is in my checking account (pays monthly expenses and overages are swept into MMF) CASH and I still wish to diffrentiate CASH from my STASH. I never had to scoot out of the house with my clothing so "suit money" is too limiting, but it is a hell of a story, thanks.
 
Cut-Throat said:
I call it 'CASH' - because that is what it is.  - Whether it's in a MM fund or Savings Account.

Yep, me too.  I track all my funds as a single portfolio, no separate stashes whatsoever.  My portfolio contains a subset called "cash."  The amount of "cash" I keep is determined by my asset allocation plan and considers the need for liquid assets such as to get through a down market period or for unplanned, urgent expenditures.
 
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