cincygal I'm doing paperwork.
Glad for it!
11 months ago
As the year ends, I’m choosing to use the savings to pay off a mortgage payment – keeping my account current. I’ll start again in 2009. It’s a worthy goal.
How to save $10,000 in an emergency fund
It made me
happy and relieved 
"It was a very freeing experience."
How I did it: We concentrated on putting any and all extra cash to savings. We found Dave Ramsey and did zero based budgeting to free up extra cash. We listened to his "Financial Peace University" CDs and read his books "Total Money Makeover" and "Financial Peace Workbook" for ideas. I also practiced being more frugal and kept myself accountable by posting on on-line communities. We planned on a set amount to go to savings every payday. Then, at the end of the pay period, we put any extra into savings too, rather than spending it. We postponed any big purchases over $50. I filed away my credit cards in DH's office, where I had to go past him to use them.
Lessons & tips: Be consistent and plan ahead. Determine how much you're going to set aside each pay period and just do it! Any extra money that comes your way should be sent directly to savings too.
Resources: Dave Ramsey's "Financial Peace University" CDs.
Entries
cincygal I'm doing paperwork.
Still saving.
13 months ago
In spite of the “scary” stuff “out there”, I still am putting away $100 automatically into my savings account. Thinking positive thoughts that I will figure a way to add to my income.
GOAL REACHED!
15 months ago
We are just shy of $10,000 and interest at the end of the month will throw our balance above $10K. We are doing the happy dance! We are also looking at more financial planning stuff to figure out what goal to work on next…
Jean
Untitled
16 months ago
We’re up to $9600…almost there. We’re having all kinds of curve balls thrown at us. The house is leaking, there are trees that need to be cut down. The neighbor isn’t happy about the trees as they are dangerous as they are. Sigh.
We did an estimate on house repairs and they run about $70,000 to have a contractor come do the job. We’ve decided to do most of them ourselves, as the money becomes available. We’ll see… Right now money is tight.
Have to sit down with my daughter to figure out her university expenses this year. That way we’ll know how much we’ll need to save for her education.
And then my husband wants to go to Costa Rica to visit his nephew. I’d like to go too. That’s a lot to do financially in one year. Well, six months really. Sigh. I will count myself lucky to keep the emergency fund intact!
Emergency Fund of $10,000...
16 months ago
This is a goal we set before ourselves in January 2008. We had about $4000 then. We are now at $9300! The question is, with all the other financial goals we have in front of us, can we sustain it. In the past we’ve pulled from the emergency fund to cover other expenses…not always emergencies (though they seemed like it at the time!). So now we are being extra vigilant and filing away our credit cards so we can save money.
cincygal I'm doing paperwork.
Saving Emergency Fund $1000
18 months ago
I started this goal last year. I really think I have more than $1000 saved. I don’t check that savings account very often because it is “off limits” for me. The bank automatically withdraws $100 a month for me. It’s a worthwhile goal.
