Emergency Fund Challenge for 2015

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Emergency Fund Challenge for 2015

Post by Jackielou »

Hope that this challenge continues here.

Everyone needs and emergency fund even if it is only a small one.

What are ways you build your emergency fund? How is your emergency fund doing?

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Re: Emergency Fund Challenge for 2015

Post by ErinHuffstetler »

Yep, we definitely need to keep this one going. This will definitely be a big focus of mine in 2016.

As to ways we fund ours ...
  • We have a monthly auto deposit set up, so our Emergency Fund magically funds itself

    We save our change; roll it; and deposit it into our EF several times a year

    In the past extra money (yard sale/consignment earnings, rebates and the like have gone into our EF, but I'm currently funneling those into my oldest daughter's summer camp fund.
Erin Huffstetler
Editor, MyFrugalHome.com

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Re: Emergency Fund Challenge for 2015

Post by mbrudnic »

I have money automatically transferred to mine also. Way back when I started it, it was to be used for quarterly and semi-annual bills, such as my trash and car insurance. But these days I can usually squeeze it out of the budget. I think we even were able to purchase our new stove and refurbish our deck out of the budget. I keep thinking I should have more to put in, but our surplus keeps getting eaten up by things as band fees, car repairs, etc...

Next up will be remodeling the powder room. Certainly after Hubby's upcoming overseas trip.

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Re: Emergency Fund Challenge for 2015

Post by Chickypoo »

I recently started having $50 per pay period ($25/wk) transferred to second bank acct we have that had originally been used for direct deposit of my paychecks. With Dh now working PT again, it will be easier to NOT touch those funds, but recently we've had to dip into them periodically between pay periods.

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