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Going to start an emergency fund challenge and credit card challenge soon!

4K views 32 replies 30 participants last post by  adavant 
#1 ·
Hi everyone. Remember me? Oh I used to be so good at having my credit cards paid off and saving money. What happened? I took a break. Grrrr.

Now, I have no emergency fund left and I owe on three credit cards. One of the best things to keep me on track was coming here and reporting it.

So . . . I'm back!!!!!

Starting Jan 1st, I will put $100 each month into my saving account and not use my credit cards. I'm going to work really hard at pay off my cards. Once my cards are paid off, I can save more.

My husband and I are also going to save some money each month for our trip to Disneyland in September. We already made out down payment. :thumb:

Who wants to join me and what are your goals? I've read when you write out your goals and commit to it there is a lot better chance of doing it.
 
#3 ·
I need to stop charging. I was doing oh so good until I hadn't done any Christmas shopping until after Thanksgiving. Usually I'm done before Thanksgiving. Our EF is now super low. I have managed to move around our money so that I still won't pay any interest on any credit card debt but oh, my the amount we are paying is insane.

Jan. goals for us would be pay in full both credit cards and start the rebuilding process on our EF.
 
#6 ·
I am so glad you are starting the challenges again! I need to start over in getting rid of my debt. My goals are to get out of debt!!! I already have money debited from my check each month for my EF and DH finally started putting money back in his 401k because the company will match it.
 
#10 ·
I need to get the EF started and regularly pay into it and I also have to pay off the credit card and pay more on the car loan so we can pay it off quicker.

Its a great idea to have a support thread and a kick in the bottom if we start to dwindle. Lol
 
#13 ·
i am totally in...i am going to stick with ALL my challenges. and this year we will be debt free by the end of the year!!!! that is my promise to myself!!!!!
 
#14 ·
I don't have any credit card debt, but I do have a goal to add $5000 to our savings in 2008. This is going to be a real challenge for me, but I plan to throw everything I can at it. Besides our regular monthly deposit, I'm going to add survey checks, change, rebates, etc.
 
#16 ·
Hi, Shell. :wave2: I joined while you were MIA, but I wanted to say I enjoyed reading your threads while I've been nosing around. I've got my baby EF fund, and the credit cards will be paid at the end of the year (bonus), but I have some old debt I need to take care of then I will be eligible to get an FHA loan and buy a house! I went through a rough time about 4 years ago (foreclosure, car repo) but I'm finally getting back on my feet. And I've found that I need people to hold me accountable. So my challenges for this year are a bit different, but I'm sure you'll keep us on the straight and narrow. :thumb:
 
#17 ·
I am in! I need this badly as I am not saving toward my new living room chair nor am I putting $$$$ in the emergency fund. Baby steps will get me moving again!
 
#18 ·
I'm in. I continue to not carry a credit card debt (yeah!) but I do want to work on that EF!
 
#21 ·
I am in for the EF challenge! EF took at hit with a $1008 car repair bill and about $1500 in unexpected medical bills.

I don't carry any credit card debt, but I do have a home equity loan that I'd like to pay down. I have finally been able to link this account to my checking account and transfer additional money each month.
 
#23 ·
Those are some great goals. There is just a couple of more weeks until Jan 1st. I suggest you start thinking and getting organized for your goals.

Do you need to open a savings account? Are you going to cut up or freeze or credit cards? What days are you going to deposit your money? The more details you have in your plan the more chances you'll have in doing it!

I already have a saving account. I will deposit my savings every mid-month paycheque. I'll pick the 17th.

I'm putting my credit cards away so I'm not tempted to use them when I am at the mall.

Have any of you seen, "'Til Debt Do Us Part?" She puts everyone on cash only and divides the money into jars. In some cases she cuts peoples spending down by 70%. Wow. What a shock that must be!
 
#24 ·
Cool Link Shell! I've watched a couple of episodes so far. I am not carrying any debt, and my mortgage is paid out. I can't believe the hole people get themselves into. I can verify Gail's ideas work. I've made a few notes on my own of things I want to change. DH wants to spend all our money now, and live off our pensions in retirement. I'd like to have some fun in retirement too. I'm looking at ways to supplement income through retirement. If for no other reason than to give me something to do!

Jean
 
#26 ·
I am so in!!!!! I will list my goals after I figuar then out for sure!
 
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