2012 Emergency Challenge :)

**bee9984** · 01-11-2012, 02:46 PM

I didn't see one posted yet so thought that I would start a new thread on this

.

My goal is to get my baby emergency fund up and running. I received an income refund yesterday ( Income tax said that they didn't receive my form last year so I had to resend it this past November). I paid a few bills and was able to put $600 in my emergency fund as I didn't receive as much as I thought that I would. I am so thankful that I could deposit that much into it though.

So my total right now is $608.38

I would like to get to $1000 and then start funding a fully funded emergency fund.

Anyone else want to join in the Emergency Fund Challenge?

**Susanscraps** · 01-11-2012, 03:20 PM

Hi Bee! I will join you. I am fearful of my job being downsized, so in the fall, I started a layoff fund. Currently at $1125, and would love to be at 10k by 2013. Can I do it? Won't be easy...I was called off today. Ugh.
I am cheering you on and hope others will join us.

**bee9984** · 01-11-2012, 06:49 PM

Yes you can do it cause I asked myself the same thing over and over but if we have each other along with everyone else for support cheering us all on well, the sky is the limit!

I am totally hyped

**rebecca** · 01-12-2012, 06:36 PM

I'm in. I put $90 in my 2nd EF.

**bee9984** · 01-14-2012, 11:08 AM

Rebecca that is Awesome! I am waiting to fund my baby emergency fund first and then I will be starting my Big emergency fund. I am so excited.

**mango** · 01-14-2012, 05:24 PM

I'd like to join this challenge too. I had the baby fund saved but just needed to use it for some car repairs (it was so great to be able to use cash as opposed to putting the repairs on credit) so will top it back up tomorrow and then keep saving for the FFEF.

Plan is to save as much as I can out of my part-time wage.

**mombottoo** · 01-15-2012, 07:21 PM

Joining in

. Had to use my stash for a new engine and a couple of other things...hopefully, it won't take long to build it back up.

**khaski** · 01-16-2012, 12:09 AM

Joining in- have a little over $5k in our EF, goal is to add at least $4k this year.

**chevy_chick95** · 01-16-2012, 01:53 AM

Yep, def. on board for this. We are shooting for $200 right now. Very little income, very little ways to put money away.

Hopefully we can boost it up to $500 or $1000 goal by the end of the year. But $200 will be more than the zero we have now.

**Mom2-3** · 01-28-2012, 12:23 AM

I'd like to join. We have an emergency fund, but I'd like to add to it. I'll come with my goal number.

**MissouriAngel** · 01-28-2012, 12:39 AM

I'd like to join too. we don't have one and would like to get one started, but where do we start? Do you have this in you're bank account, or do you have a separate account for this? How about a savings account?

**kae** · 01-28-2012, 01:32 AM

Can I join in with an alternate goal?

I have a BEF fully fundeed ($1000) but need to save up a moving/out of a job fund. I'll be moving in June to be with my partner, and will be leaving my job. I'm working like mad and PRAYING that I'll have a job lined up before I move, but that is (of course) not promised. I'm a teacher, so I'll have subbing as a back-up plan if I can't find a teaching job. I have experience in an inner-city school, so I'm hoping that will help in my job search. However, teaching jobs are as hard to find right now as any other, and I'm not even 100% sure I want to continue in this line of work. I LOVE teaching but everything else that goes along with it (administration, politics, lack of funding, etc.) can be very disheartening. That is neither here nor there, except to mention that I am looking to go back to school and am willing to take an entry-level or administrative job in the meantime.

That said, I currently have $500 and some change in my moving fund. I have my income return coming up (should be around $1000) and a "bonus" for teaching in a high-needs area which will be around $1100 after taxes. I'm struggling with deciding where to put that, since I have storm clouds on the horizon with being out of work. I think I'll put $500 of it in the moving/out of work fund. My partner will be putting money towards it as well. $1500 is still nowhere near comfortable for me, since a good chunk of that will go towards moving. My partner will still be working and has a job interview next week for a better job (fingers and toes crossed!!) but I want to have as much money put away as I can.

I do NOT want to go back into debt and rely on credit cards in the in-between. SO, my Emergency Challenge will involve snowballing debt WHILE padding up this fund. By the time I move, I would like to have this at $3000. Not much, but should get me through until I can get more work.

I'll be selling possessions as we get closer to the move (I have a couple of tvs, a dining room set, and some odds and ends I can sell) and am working on a few very small online jobs that can bring in a decent amount of money if it comes down to it. Right now, I don't make much, but can make a lot more if I'm out of work and am at home all day!

Wow, that was really long-winded and probably way more than you needed to know!

Here's the current tally:

$525/$3000

**HeatSeeker** · 01-28-2012, 02:47 AM

Going for 1k. As a single, student with a part time, it will be difficult, but I am committed to it!

**mombottoo** · 01-28-2012, 09:17 AM

Originally Posted by MissouriAngel

I'd like to join too. we don't have one and would like to get one started, but where do we start? Do you have this in you're bank account, or do you have a separate account for this? How about a savings account?

Separate savings account. Ours is through ING & I have funds automatically transferred from our checking account once per month.