E-Fund, where do you keep it?

[CurlyQ284]

DH and I will be getting about $5-$7 K in the next few weeks. We want to start an E-Fund but we aren't sure where to put it. Do you just put yours in a savings account? Mutual fund? CD? Something else? I used to have a mutual fund with T.Rowe Price, but I don't know what else is out there. I don't even know who to ask that might be able to advise us. Financial consultant somewhere? Should I go back to T Rowe Price and ask them? I'm clueless as to where to start.

[jewel]

I have a good portion of it earning a whopping 0.8% and ING, and the rest goes to Mutual Funds with Vanguard.

If you're just starting your e-fund, I'd go with a regular savings account, either with ING or a local bank.

[thatgirl2478]

ING - because it's accessible, but not too easily (ie, I can't instantly access it because it takes 3 days to transfer to my account - which means I'm less likely to spend it unwisely)

[megalicious]

I get .9% with Discover Bank. There's an Ally CD currently for 1.12%.

[niki]

ING savings account, which is a different bank from checking and investments.

[bronxgirl]

We keep it in an ING account.

[Deleted]

American Express personal savings. When we opened it a slightly better interest rate than ING but I don't think that's true anymore.

[CloudBee]

We keep way too much cash in a savings account. We can be risky with investments, but hoard cash like crazy people.

sarajoy is going to come in here and yell at me about earning such dismal interest.

I can't hear you, sj.

[sillygoosegirl]

Savings account. For a while we had rotating CDs (2 months expenses cash, the rest of the e-fund divided between CDs with maturity dates staggered throughout the year), but interest rates aren't high enough to justify the hassle anymore.

[SJ]

sarajoy was here

Xoxo

[SJ]

Oct 30, 2012 19:49:14 GMT -5 @songforyou said:

ING, but really, most of what I consider our efund is invested in the market with Vanguard. It takes almost the same amount of time to pull money from either and the rates are just so low at this point, I figure, why bother.

This is my real answer but exchange "Sharebuilder" for "Vanguard "

[fbf2006]

Amex personal savings.

[Deleted]

ING as well

[aMrsin09]

Australia has a neat account called an offset savings account.

It doesn't pay any interest, BUT it is used to calculate your mortgage interest. So, if your mortgage is 100,000 and your saving is 8,000, you only pay mortgage interest on 92,000. Our e-fund, renovation fund, travel funds etc are all kept in that account.

[emyinpink]

Amex personal savings as well

[gibbinator]

We have it in what's called a Tax Free Savings Account, and through that the $ is in Mutual funds and bonds

[aspentosh]

Oct 30, 2012 19:07:51 GMT -5 suzubell said:

We keep it in an ING account. Out investments are separate from our actual e-fund.

+1

[CloudBee]

Oct 30, 2012 23:54:59 GMT -5 aMrsin09 said:

Australia has a neat account called an offset savings account.

It doesn't pay any interest, BUT it is used to calculate your mortgage interest. So, if your mortgage is 100,000 and your saving is 8,000, you only pay mortgage interest on 92,000. Our e-fund, renovation fund, travel funds etc are all kept in that account.

That is fascinating.

[Susie]

ING savings account

[Myrrhine]

Most of it is in our online savings account, but we also keep a portion in a traditional savings account, linked to our checking account. That way we have more immediate access to some of it.

[countthestars]

ING

[shaynaatl]

We have most of it in ING Direct, but some in US I-bonds.

[ejpint]

We have a small stash of emergency cash in a savings account linked to our checking, so in a true emergency, we could access it in seconds.

The rest of our e-fund is in ING (though it's not huge, either). Any other savings/investments are more long term savings, and are in a mix of stocks, retirement funds, and money market accounts.