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I am in for this one!!

I already have auto deposit of $20 a week. I am also trying really hard to repay $600 I used in November and December for unexpected eye doctor and dentist bills. I am sitting at about $2000 now and would love to be at $5000 by the end of the year. I think it is possible.
 
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Discussion Starter #3
I have my paycheck set up to auto-deposit $100/month for now. If I can just avoid HAVING an emergency this year, I should be able to get close to half way to my goal of $2500.
 

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Yes, I am in! We definitely need this... time to start the auto-savings account!
 

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I'm in too...but believe it or not...

I am going to only put $5 every other week into this for the time being...until income tax return comes back and i can get back on track...we get a pretty good return so as soon as that comes in....i will be able to add more...
 

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I would love to do this but I'm trying to figure out today how much we could put into this. I'm making my goals and budget today.
 

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I've come to these forums today with a purpose; I am looking for support and accountability. My husband and I have agreed on a plan that would allow me the luxury of having the option to quit my "punch the clock" job as of July of 2012 if we can meet some financial goals by that time. In order to have a chance a doing so, not only must I stay within in the budget (which I normally do), but I must reduce discretionary spending so that it is at least 10% below budget. I'm going to every challenge I think can help us meet this goal, and I would love some :smhelp:.

This being said, I am in on this one. We do not have an emergency fund, and I am sure we need a decent nest egg for this before I can quit my current job.
 

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Discussion Starter #11
tnthriftylady, what a great goal!! There are some really good challenges going on right now (many of which are in my sig!) and if you want support but accountability, you are in the right place!
 

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Discussion Starter #12
I am going to only put $5 every other week into this for the time being...until income tax return comes back and i can get back on track...we get a pretty good return so as soon as that comes in....i will be able to add more...
That is $10/month that wouldn't be going in otherwise, so good for you!
 

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I'm not currently on an Emergency Fund step of the plan but will be before the end of the year. :)
 

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Discussion Starter #14
I'm not even on the plan <g>, but that doesn't mean I don't see the value of having money set aside for when "the big one" hits.
 

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I'm not currently on an Emergency Fund step of the plan but will be before the end of the year. :)
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.
 

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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.
 

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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.
 

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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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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.
 
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