save 6 months of living expenses

I opened an account this morning and deposited 40% of my goal to it. Yay! That was a big step toward my goal.

opened an account anywhere yet, I have been adding to the money I have set aside for this purpose. As it sits in my drawer (yes, I realize the cliche here), it grows. :)

I’ve pulled the money out to open the new account with so I won’t spend it, but I haven’t made it near the door of another financial institution yet.

Within the next 2 weeks I want to open an account at another institution and deposit some money. I have a little from the purchase of the property. It is meant to fix up the property, but I need a nest egg for any problems with the property. So I will put some money in that account so it is not as easily accessible to me.

OK, roughly estimating, 6 months of living expenses (and this is frugal living, no frills, no extras) is $15,000. That’s just not a realistic goal for 43things. At least not with my lifestyle. So I’m going to cut it in half and say 3 months of living expenses. My goal is $7,500 in a seperate account.

I definately need to think about this. I’m always living paycheck to paycheck and week to week. If it weren’t for my family, I’d be screwed if something bad happened to me.

I suppose first thing would be to determine how much IS 6 months of living expenses.

Then to open an account somewhere out of my reach to put it in, I’m so bad I would get to it without a doubt.

Then to make deposits to it with the end goal in mind. (I’ll be stretching myself thin, as of now I have regular deposits going to 401K and IRA besides my regular bills.)