Comments on: Thursday Thoughts on Emergency Funds

By: CindyS

CindyS — Fri, 04 Apr 2008 09:54:06 +0000

Denise, as much as misery loves company, I wish I were a lot more alone. I try to remember that while we can’t change the past, the future is ours to mold however we choose. The past year has taught me a lesson that I wish I had learned years ago but I have learned it now and things will get better.

By: Denise

Denise — Fri, 04 Apr 2008 02:33:47 +0000

I found your blog recently and really enjoy it. Your financial situation is akin to mine… as in, you don’t have money to blow, either!

I can relate to the issue of it taking a long time to build the emergency fund. It’s taking us months to get ours. We lost our house in foreclosure, we’ve sold all we can, we don’t have car payments, and we’re still struggling. We don’t blow a lot of money – we simply don’t make quite enough. I think you know what I mean!

Anyway, thanks for your great blog and know you aren’t alone.

By: CindyS

CindyS — Thu, 03 Apr 2008 21:46:51 +0000

@DebtFree, Thanks for the encouragement.

@ Enough Wealth, I agree with you wholeheartedly about the retirement account. Unfortunately, I was caught in a position where it was take the money out or lose two houses to foreclosure and there was that minor matter of eating.

Despite my intention of finding a job, until I do the business is all I have and I really don’t think $180 is enough of an emergency fund. When and if I find a job, I hope that a good portion of my debt and savings issues will be resolved.

Poor planning? Yes, I expect that is a fair judgment although I hope that I have changed that considerably over the last months.

By: Lightening

Lightening — Thu, 03 Apr 2008 21:44:00 +0000

LOL. Without knowing anything about this carnival, I also posted on Emergency Funds just yesterday (which was Thursday here in Australia). We had to draw on ours recently and I was REALLY glad it was there to draw on. It’s the first time since having one that we needed to draw on it.

By: Enough Wealth

Enough Wealth — Thu, 03 Apr 2008 21:38:43 +0000

You’re not “saving for retirement” if you put money into a retirement account (401K) only to later on pull it out and spend it! If you can’t afford to buy something without digging into your retirement savings, then you can’t really afford it.

Overall, your planning seems to need a bit of work. How come three days ago you were intending to find a job (and therefore expected your business to suffer), yet today you’re basing your savings “plan” on socking away $1 per dog?

By: Debt Free Revolution

Debt Free Revolution — Thu, 03 Apr 2008 19:30:49 +0000

It’s funny we both blogged about emergency funds today I’ve done the scrimp and save routine, and I do assure you it gets easier once you can knock out a couple of the debts! Keep going, it really is worth it. And I believe in you.