Thursday, June 28, 2007

Time to Raid the Emergency Fund


I have located my first ever stock that I would like to invest in (if you don't count the time my dad let me buy one share of General Mills when I was 10 because I liked their cereal). I read the Morningstar reports, the Standard & Poors reports, and the company's 20-F (the foreign equivalent of a 10K), and even logged into the motley fool forums to get a feeling of what people thought.

I've opened up a Zecco account, but now I have to fund it.

I will probably raid the emergency fund assuming I can figure out a way to set up a Zecco to FNBO Direct transfer. Lets hope our beat-up old car holds out for a couple of months.

4 comments:

TJP said...

Is it really worth raiding the emergency fund to buy into your Zecco Account? What if you need the cash immediately or something?

I mean I really like Zecco (I even reviewed zecco here on my blog), but my initial deposit was small because I'm building up my emergency fund.

As for General Mills, I like the defensive play on the market, especially considering we haven't seen the 10% correction for a while.

Angie Hartford said...

I was getting ready to suggest exactly what tjp did. Count on a genuine emergency to get you from behind if you've just spent your emergency fund on a non-emergency.

Alex said...

Well the most likely expense would be my car, as long as it doesn't totally break down I can raid it for a couple of thousand and refill it in a month or two.

But to be honest I might be getting too antsy, due to my stock jumping almost 1% today (as I try to line up the money)

TJP- I love how you complemented by 10 year old stock purchase :)

QUALITY STOCKS UNDER FIVE DOLLARS said...

Not a good idea to raid the emergency fund.