Progress on Emergency Fund

If you remember from my 2012 Money Goals article and from the first quarter update I stated that I wanted to start saving back in my Emergency Fund. Since I have posted that I have yet to re-start the “E Fund” as it is labeled. The question I ask myself is why?

Is it because I’m to lazy or because of money issues? Do I not worry about if something bad happens what am I to do? Yes, and no, it is actually a mixture of all these. When I first started the E Fund I would put every little bit of extra money in my account. I had hardly any work to do and time was on my side. When I would go out to eat I would round up all transactions and move the “change” to my E Fund. I would get an extra check for my birthday or etc and I’d go put it into my E Fund. So what happened to the great progress?

At that point over a year ago I got a car, work reached a slow period and I just stopped rounding up and moving the excess. I started to use my extra money to buy myself a new monitor, a new cell phone, and more. I just let the account sit idle not even throwing a single penny into the account since I last touched it. Instead I started to take from the fund to pay my bills, while wasting my real income on unneeded expenses such as going to the movies and eating out.

So starting today I am going to change that, I just signed up for automated transfers on the 15th and end of the month. I will start out with just $10 each time. I would like to eventually increase this amount, but for now this is better then nothing. I am also setting one up for $15/mo just as a start for a place to live.

Which reminds me, I should start working more to increase my income which will let me bump it up. Which I have a week and a half before my summer classes start. Lets see where I stand in the next few weeks.

Moving Forward

I’m sure that several of you may have wondered when I would start posting articles again. The answer is this week. As you know from my last post I needed to take time off and during this time I have learned several lessons.

One of the very first things I learned is you can never have a big enough emergency fund. When this event happened my parents was able to pay in full for the funeral. They wasn’t limited by money. This helped enormously. I cannot imagine having to sacrifice during a time like that.

I also learned that you need to keep your family close. When this happened we had our yard full of people and  it was one of the larger funerals in the town. It made it a lot easier to have people with whom you can rely on.

Third, I learned that an understanding boss is a blessing. If I had been working somewhere else, there is no guarantee that I could have missed so much work as I did. To top it off one of my contracting clients even paid me a partial bit since they understood I still had expenses.

Which brings me to another thing, you shouldn’t over do eating out. By the end of it I felt physically sick from all the fast food and junk I have been eating. I normally packed my lunch and eating out as much as I did or having people bring fast food to us only made me physically worst.

On Friday I plan to publish a rough time line of topics for the next coming week. With summer session right around the corner along with the 2nd quarter being half over with these next few weeks will only fly.