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Emergency Fund

May 20th, 2007 at 04:26 am

I transferred money from our checking into our savings yesterday and we now have our emergency fund full again. This was after my little car repair in March and the new car purchase in April when I had to borrow from the account. I always feel so much better when I have a full 3 months of savings in the bank, and easy to access. We don't have anything unusual coming up in June...can't plan for surprises that I don't know about, of course. Property tax is due in July, but I have the money for that in our sinking funds, along with our holiday money for our vacation in August.

I really wanted to have an extra $2000 saved in another account because I won't be working all summer, and I don't want to penny pinch. I'm at $700 right now. I think I'll have $400 more at the end of this month to add to it. June is a 3 paycheck month for me, so that will almost fill it up. If I run out of summer money I have do have 3 options:
1)...borrow from the emergency account until September when I go back to work;
2)...find something to do that will make a bit of money to cover the difference, or;
3)...spend less.

Hmmm. Decisions, decisions, decisions.

3 Responses to “Emergency Fund”

  1. Amber Says:

    That is great, I am working on rebuilding the EF too. It's great to have that little security

  2. scfr Says:

    Isn't it nice to have the sense of security you get when your EF is where you want it to be?

    If we get to vote, I'd vote for option 2 or 3. Wink

  3. littlegopher Says:

    Yay for you! That's great start for your summer funds. Best wishes for a fun and relaxing summer!!

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