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Emergency Fund

Additions are being made to the Emergency Fund. For the last two week I have avoided using the TOLL road in the morning on the way to work, and I have not made a trip to the 7-11 either. Before I would make a daily pilgrimage to the 7-11 next to work and spend at least 5 dollars a day. NOw I bring my water, soda and lunch from home. (Why didn't I do this before??) I have now decided to put this money into my Emergency Fund to grow it to 5000.00 dollars. Many books say you should have at least three months of your wages put away for an emergency so I have a way to go yet.

I have put in the Emergency Fund a total of 178.00 dollars. 25.00 dollars is an auto withdrawl from my checking account to the Emergency Fund and 34.00 dollars is the amount of money my dad gave me for gas (again), 61.00 is from the change jar I keep that collect all the spare change I find or that hubby gives me and 58.00 dollars is the money I saved by NOT taking the toll road in the morning and by not going to the 7-11 for two weeks.

So there you go, a new total of 3539.00 dollars for the Emergency Fund. Yoo Hoo!
I am 1461.00 short of my goal of 5000.00. Not a problem, I can do it.


golbguru said...

Excellent ! keep it up. Another suggestion, don't stick to the $25 auto withdrawal. Every couple of months try to increase it a bit so next coupls of months $35 will be withdrawn, then few months after than $45..and so on...till you can withdraw anymore. See if that works for you.

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Lisa said...

Good suggestion. I increase my 401k contribution each quarter, it never occured to me to increase the Emigrant contribution. Duh.

Dimes said...

Sounds like solid progress! Every little bit helps.