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.