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Step 1: Emergency fund

December 14th, 2008 at 03:09 pm

In order to stick to a budget, there must be a failsafe. The failsafe is your emergency fund. We like Dave Ramseys Total Money Makeover so these are the steps that we are following.

Step one involves saving $1,000 dollars for emergencies. We store our emergency fund in an on line account. Currently we use www.ingdirect.com; our current emergency fund is $1,000 dollars.

Onto the next step.
Raymond

Posted in Financial Steps | 4 Comments »

4 Responses to “Step 1: Emergency fund”

  1. mommyof4 Says:
    December 14th, 2008 at 05:10 pm 1229274631
    1229274631

    Doesn't that first step feel good? I never would have thought that I'd actually be able to save 1K. But I did manage it. Now I'm working on BS2. I hope to have the credit card debt paid off my July 2009, and sooner, if possible.

  2. onesexylady Says:
    December 14th, 2008 at 05:28 pm 1229275727
    1229275727

    WOW!!! I'm on babystep 2 as well and this snowballing thing is working out so great.

  3. Amber Says:
    December 14th, 2008 at 06:22 pm 1229278946
    1229278946

    Good for you...keep it up and I am sure you will meet your goals Smile

  4. fruitbowlk Says:
    December 15th, 2008 at 02:46 am 1229309183
    1229309183

    Good Luck. I'm working on babystep 2 also.

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