2010 Emergency Fund Challenge - FINAL

**frugalwarrior2** · 01-02-2010, 12:46 AM

I was actually asking him how I should take that. I didn't like the What do you think? I should have PM'ed him.

**qsaver704** · 01-02-2010, 12:50 AM

no foul, sorry on my part! Look forward to your progress on either/both threads

**frugalwarrior2** · 01-02-2010, 01:01 AM

Hopefully, there will be signifigant this year.

**Greebo** · 01-02-2010, 03:06 AM

Originally Posted by frugalwarrior2

Greebo-I think perhap you are a little condescending at times. Do you mean to be?

No, and until I saw the next post I wasn't sure what you thought was condescending. I thought you were offended at my use of the word "perhaps".

Originally Posted by frugalwarrior2

I was actually asking him how I should take that. I didn't like the What do you think? I should have PM'ed him.

It's kind of funny actually - you read a completely different tone of voice than I intended.

I asked what you thought because I wanted to know whether you thought my suggestion that you start a separate thread was something you might also have thought was a good idea or not. I was thinking that a side discussion in this thread might get lost in the multitude of EF posts, but at the same felt time that you might not want a thread just dedicated to your situation. I was actually trying *not* to sound pushy - just checking to see what you thought of the idea.

**danimarie0820** · 01-02-2010, 05:42 PM

Added $80 today. Now at $943.99. I'm glad I joined. This really motivates me! Posting it helps keep me accountable

**Luckybustert** · 01-02-2010, 06:20 PM

Originally Posted by qsaver704

I have heard more than one person say that to him, but I think he is right. You have lots of stuff going on. At least post this info in the debt reduction thread and see what they will say.....

I understand and appreciate what you're saying here but I also think we should be careful not to create an environment where people become hesitant to ask things out of fear they're not posting to the correct thread. I know there have been a couple of threads recently where I've felt this way. A big part of why I find FV so helpful is that it's FUN...I can find condescending anywhere!

Greebo - I understand what you mean about that not being your intent. It's part of the challenge of communicating electronically, and it's an area where I have to be really careful myself. Have been told frequently at work that my intent doesn't really matter....what matters is how my message is received by others.

**Luckybustert** · 01-02-2010, 06:27 PM

Starting the year with a whopping $10.15 in my EF. Guess everybody has to start SOMEWHERE! My goal is to get a least $100 in there in January.

**fairlakes** · 01-02-2010, 10:16 PM

I am so glad i found this thread. I am trying to build my emergency fund but i also have cc debt. So far i have $3500.00 in my EF.

**kettlecorn** · 01-03-2010, 03:26 PM

Ok I am in too!

So we have $1000 in our BEF! Yay!
There is actually $200 more additional in the savings account. Once I get that up to $500 I plan to pay off a credit card with that. I would rather use any add'l money over the original $1000 to pay off debt, instead of moving on to 6 months living expenses. So does that mean I should move this over to the sinking fund challenge?

**Greebo** · 01-03-2010, 05:49 PM

Originally Posted by kettlecorn

Ok I am in too!

So we have $1000 in our BEF! Yay!
There is actually $200 more additional in the savings account. Once I get that up to $500 I plan to pay off a credit card with that. I would rather use any add'l money over the original $1000 to pay off debt, instead of moving on to 6 months living expenses. So does that mean I should move this over to the sinking fund challenge?

It sounds more like a sinking fund - but I'm curious as to your reasoning for waiting? Every day you leave a balance on a card, it accumulates more interest - why "save up" to pay off a card when you could get more bang for your buck by paying a LITTLE more earlier (if that's all you can pay right then I mean)?

Of course if the card is a charge-off, that's different...

**qsaver704** · 01-03-2010, 06:18 PM

I would agree with greebo. If you have an extra $300 send it in. If you check out the new debt reduction thread or even your statement, you may save tons in interest by paying it off earlier.

**frugal-fannie** · 01-03-2010, 06:37 PM

I am adding to my change to increase my EF but if I can get things paid off earlier I would like a goal this year of 1000.

**kettlecorn** · 01-03-2010, 07:30 PM

Originally Posted by Greebo

It sounds more like a sinking fund - but I'm curious as to your reasoning for waiting? Every day you leave a balance on a card, it accumulates more interest - why "save up" to pay off a card when you could get more bang for your buck by paying a LITTLE more earlier (if that's all you can pay right then I mean)?

Of course if the card is a charge-off, that's different...

I know, I know. I just feel like if I could get all the money to pay it off at one time in one lump sum, it would make me feel better, KWIM? I don't know, stupid way of thinking! And no, it's not a charge off so yeah, the interest is accumulating.

**Greebo** · 01-03-2010, 07:37 PM

Originally Posted by kettlecorn

I know, I know. I just feel like if I could get all the money to pay it off at one time in one lump sum, it would make me feel better, KWIM? I don't know, stupid way of thinking! And no, it's not a charge off so yeah, the interest is accumulating.

It makes you feel better to have interest piling up so you need MORE money to pay it off?

Really?

**kettlecorn** · 01-03-2010, 08:44 PM

Originally Posted by Greebo

It makes you feel better to have interest piling up so you need MORE money to pay it off?

Really?

No (hanging head in shame). I'd like to write just one check and have it be gone with in one payment. It sounds stupid, I know. The plan is to have the rest to pay it off by the end of the month. If I'm not able to, i'll just send in what I have.