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Building My Emergency Fund

Oh yes, I know that everyone needs an emergency fund, but what determines when you have enough. Well, I have decided to set my goal for $5,000.00. This is a short term goal as I think my emergency fund should have at least $10,000.00. But for now I will strive to reach the $5,000.00 mark in one year. My current balance in my emergency fund is $2,820.63 and I keep it at Emigrant. So, I will have to put away at least $182.00 a month.

I also just started a 1,000.00 CD at Emigrant, yes it was a spontaneous decision. Story of my Life. If nothing I am impulsive!!

1 comment:

lndsymaria said...

An EF is a great cushion against the 'unexpected.' That way you can be "impulsive" but still feel safe and secure. You're doing great!