Save $1000 Emergency Fund

Now my water heater is leaking a small amount of water from the bottom. I’m freaking out right now because it’s 10:50pm and I can’t talk to any professional…I have to wait until tomorrow. Hopefully nothing bad will happen between now and then with it. Talking to my parents though, they seem to think it needs to be replaced. Great! That’s probably about $500! Guess I’ll have to put “get out of debt” back on my list. :\

or it’s always the car! I’m paying $600 to get the car repaired today. I only have $400 in the emergency fund and I have $60 in the car repair fund. I guess it’s better than nothing. So, it will go on the credit card, I’ll immediately pay the $460 then I can have the rest paid off at the end of this month.

My emergency fund is going to be ZERO. :`( tear

I changed this from “save three months of living expenses” to “save $1000 emergency fund” because I only have $400 right now and it needs to be built back up to $1000 and I need to pay off the animal hospital bill before I start saving for the three month expenses emergency fund.

right now and if I don’t have to dip into the $1,000 EF, I can be done with this goal by 10/09…then I would work on saving six months of expenses.

I should be (need to be) really motivated to get completely out of debt to start saving. I might go even further than three months…maybe five or six. It will take me awhile to save it.

I also should try to up my percentage on my 401K. I can only afford 1 percent each pay right now. Tomorrow I find out about our benefits package at work and how much more they’ll be taking out pre tax. Right now it’s $82.16 a month. I hope it doesn’t go up too much. I’m also enrolled in the flex spending account (pre tax money taken out for prescriptions and such), which is nice but I had calculated way too much for this year, so next year won’t be as much. Maybe I’ll be able to raise my 401K only to 2 percent. :\