We don't have an emergency fund per se, but a emergency plan, which I think is a better use of our resources. We have insurance for life's crazy situations (car, home, medical, life). We have various accounts with various amounts of money like vacation fund, a tax account we save to pay our taxes at the end of the year we could "borrow" from, a savings account for bigger purchases (home improvements, etc), a months worth of expenses in our checking account, investments we can draw from, things like that. The largest amount we would really need barring some absolutely crazy situation that I can't even think of would be about $6000 for a new ac. And we have a bare bones budget slashing plan if worse comes to absolute worse.