I have $25,700 in my savings account specifically for an emergency fund. This is the largest emergency fund I’ve had, both in terms of nominal value and relative to my expenses. It’s good to know I have some cushion in case of financial trouble, but I won’t stop here. I’ll try to hit 8 months’ worth by the end of the year, and 24 months’ worth is the long term goal (several years out). 4 months ago
People doing thisSee everyone
One of my goals is to save $10K and that just seems impossible! I will say that I managed to save enough to live for 3 months out of work with the baby. Man it was tight at the end though. 8 months ago
that our debt is gone we are 100% focused on saving. We tapped into savings to pay off debt and are left with about $2300 so the task begins right away. We must increase this amount and at the same time not accumulate debt! 9 months ago
the more they stay the same. Was reading the early 2007 entries I wrote on this goal. Funny that today I can say the same thing that I said in 2007. To date we have one month’s worth saved. But I am sure our monthly expenses are higher now than 6 years ago, so that’s progress, right? Ha! 9 months ago
We spend a lot of money on food each month. We could definitely monitor this in a more effective way. 10 months ago
I just made it halfway, completing my goal of saving 3 months’. Now 6 months’ is the new milestone. I’ll try to save $6,000 more by the end of the year, and the remaining $1,455 by March 2014. 17 months ago
I’m almost at the $10K mark, maybe I’ll hit my 12K early in 2013? Cross fingers. 2 years ago
I see my goal is $12,000 by 2013.
Currently I’m $5110. I have my $10,000 goal set to be acheived by 2013. It SHOULD be do-able. I’m not so sure about the $12K though. 2 years ago
I have a good job, and make a decent wage
BUT – I spent too much and have a big mortgage and a family to support
I have paid off all credit cards and cars (finally, and then bought more cars and recharged the credit cards higher than ever.
What frightens me is having a big expense or a job or income change that causes me to have to borrow more and descend into insolvency.
6 months living expense for me is about $5k per month, or $30k total.
That’s a lot of dough for this small-town boy.
But I HAVE to do it. I want to sleep easy at night knowing I can handle unexpected monetary hits. It has taken me a long time to get to this point, but I am now deferring instant gratification in favor of savings. I’ve saved nothing. I have a long way to go.
Please God, be nice to me and let me keep saving without an emergency causing me to drop big bucks along the way.
Changing from a spender to a saver seems impossible to me.
But I keep trying. 7 years ago
That’s just under 30% of the way there. Looking through my other goals you will see the various ways I have it stashed or saved. 3 years ago
after the move. There was a bit of juggling finances this month and we did not stick to our budget. Our plan for July is different and we should get a sense then of how much we can save each month. 3 years ago