2010 Build up your Emergency fund challenge?

**Greebo** · 12-21-2009, 10:11 PM

Do we want a challenge where people can say how much they currently have set aside for emergencies?

Maybe start with your current balance and every time you set aside money, add a new post?

OTOH that might be disclosing too much info - wouldn't want anyone going around hunting down the FV member cookie jars.

What do you all think?

**Palooka** · 12-21-2009, 10:40 PM

I rather just post what I added and not the total amount.

But that is just me.

**NikoSan999** · 12-21-2009, 10:46 PM

My cookie jar screams when opened.

**frugalwarrior2** · 12-21-2009, 10:52 PM

I will say that although I like D.R.'s philosophy I have found that 1000. E.F. suffers too much fluctuation for our family of four to feel steadily safe. I have rebuilt it (again) and plan to keep no less than $1500. in there for small emergencies. I personally think that 2010 is going to be a "ride to remember" as much or more than 2009.

**NikoSan999** · 12-21-2009, 11:03 PM

Originally Posted by frugalwarrior2

I will say that although I like D.R.'s philosophy I have found that 1000. E.F. suffers too much fluctuation for our family of four to feel steadily safe. I have rebuilt it (again) and plan to keep no less than $1500. in there for small emergencies. I personally think that 2010 is going to be a "ride to remember" as much or more than 2009.

My sentiments exactly. Especially the more so.

**sinopa27** · 12-21-2009, 11:14 PM

Maybe we can add what changes we did to be able to add to the emergency fund. For example, I got an unexpected gift of money and want to add a part of it to my emergency fund

**frugalwarrior2** · 12-21-2009, 11:19 PM

They gave my DH's 4% of his salary back they took starting in FEB. It's how we got xmas paid in cash too. Also paid off my road assessment my DEAR neighbors got for me 6 years ago.(51% vote to pave the road). We live in a township.

**qsaver704** · 12-22-2009, 12:44 AM

Whatever you decide is good with me. I want in on this one. I am debt free except the house now, so here we go on growing that EF!

**EmilyD** · 12-22-2009, 12:51 AM

Yes, I am in as well.

I have had $500.00 in BEF this month and had two emergencies. Have $100.00 left if nothing else hits us.

**sinopa27** · 12-22-2009, 06:15 AM

I am in on this challenge no matter what you decide.

**pop goes the weasel** · 12-22-2009, 07:07 AM

My jar just broke into a million pieces. I can get it started but it never stays there. By the end of the mnth it's gone!!

**nic4549** · 12-22-2009, 08:09 AM

I'm in. I need to build my BEF to $1,000.
We do not have a cookie jar. We have a locked box in which I am the only one with a key and DH is the only one who can reach it (He is very tall and I'm short). Without one another, we cannot get into the BEF.

**beks37** · 12-22-2009, 08:27 AM

I would like to participate, this is one of my goals for 2010 anyways. I'm trying to save up for an 8 month emergency fund and also an adoption fund!

**Greebo** · 12-22-2009, 08:42 AM

Ok so we have interest in having a "grow your emergency fund challenge".

So - rules:

Only one, really, that I can think of as necessary - do we simply count ADDITIONS to the emergency fund for 2010 or do we start with current balances and go from there?

The more I think on it, the more I think we should go with additions - so even if you have 30k in the bank and add no more, you'd add nothing to this challenge (nor would you really need to).

Do we need to DEFINE an emergency fund?

**Luckybustert** · 12-22-2009, 09:25 AM

Sounds good, count me in. I think most of us understand the concept, but it wouldn't hurt to define the terms and rules upfront....here's what it is, here's how it works.