2011 Emergency Fund Challenge - Page 2
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  1. #16
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    I'm in and drained some of our savings in 2010. Only follow a few DR principles and we need to save up more. Auto deposit is fifty a month but I sometimes add more depending on how the finances are that month.

  2. #17
    Registered User madjen's Avatar
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    Quote Originally Posted by qsaver704 View Post
    I would still put $5 or so away as you can. I am sure it depends on how much debt you have and how big your snowball is, but I have found the first $1000 suggested by Dave Ramsey isn't always enough. I started by putting $5 a week away while paying debt. $20 a month isn't that much and it helped to see my debt shrink and savings grow. I paid myself first.

    That said, do whatever you want. There is also a debt repayment challenge I think.

    Yes, also, you don't have to be following Dave Ramsey, Mary Hunt or Suzy Orman to save an emergency fund. Do it for yourself.
    The emergency fund is above $1,000 because $1,000 isn't enough for my family and I either. We just have the car payment countdown that's in my siggy and of course a mortgage as well. If I can get my DH to sit down for longer than a minute, we'll be able to come up with a plan that works for us both. We are switching to the envelope system though which will be totally strange to me since I've had a bank card since I was 14.

  3. #18
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    I'm in definately. Even though DH is making enough money to float us while I'm laid off, I really want to have this set up for the next lay-off whenever that may be. We don't have any EF at the moment we just use money from savings and I don't want to touch our savings this year. Our savings will be for land/home. I think I will start at $10 a check, once I'm back to work. Also any money I make from recycling aluminum cans, and Inbox Dollars will all go in.

    Cat

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  5. #19
    Registered User JoJoBean8's Avatar
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    My goal is to add 4000 to our EF this year. We added a little more then 3400 this past year. I have it set so we do at least $105 every 2 weeks. I hope Hubby's ot comes back and we can do more! I am starting this year off with adding $4.99 in interest today.

  6. #20
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    I added $11.47 today in interest

  7. #21
    Registered User DJ1972's Avatar
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    I'm in. I started posting to the EF thread last year, then life got busy and I drifted away from the forums for a while. We currently have a 3 mo. EF...would like to bump that up to 6 months worth of expenses.

  8. #22
    Registered User crafty73's Avatar
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    Ok count me in! My goal for 2011 is to have an emergency fund of at least $6,000

  9. #23
    Registered User Lady_V's Avatar
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    I'm in!

    My goal is $3000 by December 31

    $335.00 went in today
    Last edited by Lady_V; 01-01-2011 at 09:56 PM. Reason: tired eyes don't catch tired fingers errors

  10. #24
    Master Dollar Stretcher madhen's Avatar
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    My first deposit won't be until Jan 10th (payday). Reading all these posts is making me itch to try to find some money to put in there before then!!

  11. #25
    Registered User emily_hope's Avatar
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    In, in, in...

  12. #26
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    Are we keeping a personal running total or does the OP want to keep a running total for the group? Either one works for me.

  13. #27
    Master Dollar Stretcher madhen's Avatar
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    Personal running total.

  14. #28
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    I need to re-build our emergency fund. Two cars needing work in November put a big bite on our current fund. My goal will be to get back to a $1000.

    The rest of the 'squeezed' dollars will go to pay off debt.

  15. #29
    Registered User qsaver704's Avatar
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    $10.49 added by cashing out my pay pal account.

  16. #30
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    Added 25 this weekend.

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