February Poll

The February poll is now officially closed. Many thanks to everyone that took the time to vote. The question was how much do you have in your emergency fund? What the poll showed didn’t match up to what I have been reading about savings. Several articles I have read have said that people just aren’t doing a good job with savings. The “pros” suggest that you have three to six months of living expenses in liquid accounts to fall back on in case something goes wrong. From the tone of the articles they make it seem that most people don’t have a rainy day fund. But, from the way people voted not everyone is forgoing the emergency fund. (I would guess that people who spend time reading financial blogs are more likely to have an emergency fund in place or be actively funding one. But like I said it is just a guess). This (unscientific) poll showed a full 63% of voters had at least three months or more of readily available cash.

The Breakdown:
3% of voters clicked on “Am I supposed to have one?” Let me address that, “Umm…YES.” Only 18% reported that they have less than one month set aside. Another 12% of voters were in that one to two month category. 21% of people have at least three to four months on hand. 15% said they were in the five to six month group. A big fat 27% of people taking the time to vote said they were sitting with over six months of living expenses stacked up in piles. 3% reported that they consider their home equity line of credit a good substitute for a “traditional” emergency fund.

Do you think that readers of financial blogs are more likely to have an emergency fund or at least be actively working on it?

That’s it for today. Here’s to solid rainy day funds and to keeping an eye on your EveryDay Money.

January Poll Results

Q: Your expected return for 2007?

As the New Year is getting into full swing I thought it would be good to find out what everyone thought the market would bring them this year. Now that the poll is closed I’ll share my thoughts. I have heard the market’s historical return of 10% idea so many times growing up that I think I am brainwashed. So my realistic answer, (the one I use with friends, coworkers, and such,) would be 10-20%. Now privately at home when it is just the wife and I, when I am running scenarios and the calculator on MoneyChimp ask for an interest rate… well then I invariably use something between 30-40%. Might as well shoot big, especially if no one is looking. Well enough about me, here is how you voted.

Above zero, I’ll be happy: four percent

Less than 10%: six percent

10-20%: forty three percent

20-30%: twenty three percent

30-40%: thirteen percent

40-50%: four percent

Above 50%, I’m that good: four percent

Thanks to everyone that voted. The February poll will be up in a couple of weeks.

That’s it for today. Here’s hoping the votes go your way. And don’t forget to keep an eye on your EveryDay Money.

Hang on (Poll closed)

Here's how it came out on this vote. 36% of people said they usally hold on to a stock less than a month. 36% report they hold less than a year. And 27% tend to be buy and hold thinkers. I have no idea where the other 1% went to. Thanks to everyone that voted.

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