[AP102209]

This is my biggest goal this year. I had a baby ten weeks ago, and his father and I live together, but are not married.

I am not comfortable relying on DB. There are no guarantees. Right now I have no income, no posessions, no car, no savings. Nothing. That is not okay with me.

Should something happen and I suddenly have to support my son and myself alone, I want to be prepared.

My goal is to get a $1500 EF set up just for the two of us ASAP. I won't be hiding it, but DB won't have any kind of access to it either.

When he files his taxes the end of this month, half of the tax credit for Parker is going to me. That $500 will be going directly into my EF. The beginning of February I will be getting a check for anywhere from $500-$1000+. Everything up to $1500 will go into Parker and my EF. Everything above that amount will go into the savings account for buying myself a car(that will be in my name and my name only.)

We'll also be working on getting a household $1000 EF setup (funded by his income) as well.

 

[Lady_V]

Okay... since it's officially 2010, time to kick this bad boy off !

I added -- $50

 

[Suprise]

Okay just added 80.00 so my total is 509.00 half way to my first goal. After I pay down my dept I will fully fund it.

 

[nic4549]

I added $35 today. That puts me up to $700 of $1,000.

 

[Greebo]

Greebo
-We are sure as we can be my Dh's job is secure. He is in specialized IT and travels internationally or works from home for a large firm that does restructuring for many clients. My DH has 8 accts. even though 2 would be plenty. He is going to Bermuda the 10th for 2 weeks they want him for 3 months but the other clients (spelled CHILDREN) get jealous.

-We have more consumer debt than we could pay in 12 months and a child in college.
-my anxiety level jumped up and down last year w/ the E.F.
-We still are contributing to the retirement fund but started late and are almost (ouch) a decade older.
-total debt load $107,000ish w/ the main mortgage done 12/2013 and 2nd 5/2016.
- I hope to dump 1 CC w/ the tax return and pay most of our bank loan w/ double and triple payments while paying tuition and adding $250. at least to savings, we'll see.
-also need a new furnace. working fine but from 1972 (60% efficient.)

I think perhaps you might want to discuss this in the Debt Reduction forum as there are a lot of variables here not directly EF related. What do you think?

 

[whoapony]

Count me In, I don't post here much, more of a lurker but as of today we have $83.71 in ours, I would like to have 3k by the end of the year. we shall see. great job everyone. [/COLOR]

 

[tervsforme]

I'm in. I have $55.62 in there now. I'd like to bring it up to $1,000.

 

[frugalwarrior2]

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

 

[qsaver704]

I have $1000 already. I would like to have at least $2500 by the end of the year. No additions yet.

 

[qsaver704]

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

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.....:winter:

 

[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.

 

[qsaver704]

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

 

[frugalwarrior2]

Hopefully, there will be signifigant this year.

 

[Greebo]

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".

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]

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

 

[Luckybustert]

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.....:winter:

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]

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]

Getting There

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]

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]

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...