I would just use some of my postions in my non reg acct(and i might be able to just take the profits from my winning stocks/holdings and leave the base/book value amt alone(i could even redirect my divs(not a huge amt,maybe 300/350 a mth)I have several thousands in profits(excl my underwieght stocks)
Im single and youngish and don't have a lot of expenses-just the regular-rent/food/entertainment ect.
I could also tap my business/un-used credit-line/un-used cc ect ect(i have all these for the very reason of a emergency).....i believe in having most of my money always working
If its a life and death thing(ie:cancer or something to me and or a loved one,for example)I don't think id be thinking about $$ when/if that struck.....actually it would prob polarize how unimportant it is in the grand scheme of things.(not to state the obvious)
I don't see the need for any emergency fund as such. You should have savings and investments. Your savings may amount to a few hundred, or a few thousand dollars in a chequing account for day to day expenses. The balance should be invested in something that pays a better return.
In an emergency your investments can be turned into cash within a few days. If you need cash immediately, there are credit cards and LOCs. For a larger emergency you should have insurance. But to keep 6 months' wages stuffed in your mattress earning no interest "in case of an emergency" is silly.