I'm marking a kind of milestone today.I never meant to start an e-fund. It sort of happened by accident. DH and I live on a houseboat, and our slip fee is due annually each summer. Last summer, as the due date approached - so did complete despair! We *somehow* managed to scrape together the $4800 by maxing out some credit cards and cashing in some old savings bonds. I know, I *know*. But it was SUCH a struggle, and SO uncomfortable, that I resolved to set aside the $400 each month as if I were paying MONTHLY instead of ANNUALLY.May. June. July. August. I had a little over $1600 in that fund when DH had his massive stroke late in August. Life went completely topsy-turvy. DH was hospitalized for 3 months, and in no condition to work when he came home. Mercifully, I was sitting on a heap of vacation time at work, so I continued to receive full-time paychecks, even though I was only putting in a few hours each week at the office.September. October. November. I continued to save the $400 - for the SLIP FEE. $2800. Then I ran out of vacation time. Our income dropped to 25% of what we were BARELY making it on before.BUT, there was this little pile of money. And it turned out to be JUST enough to ride us through. Along with a little help from our family, our friends, and our church.Today is the first day that I've been able to come back to work full-time. Which means we've learned to live on a LOT less, and now I'll be able to save more than I used to. I've certainly learned a valuable lesson about emergency funds.I hope my experience never happens to any of you. But if unexpected, life-changing disaster does strike, I hope you have an e-fund to help you ride through to the other side.Thanks for reading,Floatin
Are you going to have enough this summer to cover your slip fee?And...what's a slip fee?
A slip is where you park your boat on the river, bay, marina, whatever body of water you're boating on.Fredinseoul
Dear Floatin --What an incredible story. Thank you for posting your experience. My husband had a major health scare which required open heart surgery (at the age of 47! sheesh!) and I am so thankful that we were properly insured with good health coverage and had understanding employers.He recovered beautifully -- me, I am still not over the trauma, but I am trying! And I started an efund as well -- $25 a week... silly, but it's up to $500, and I haven't felt it.One never really thinks that catastrophic events can happen in one's happy home... sadly they do, and it's best to be prepared, at least financially.I hope your DH is doing well, and don't forget to take care of yourself as well.
I had a feeling it was something like that, and not a lacy underthing that the boat has to wear when you put a skirt on it...LOL
Thank you for sharing your very challenging times.LaSirena
frissy asked: Are you going to have enough this summer to cover your slip fee?Excellent question! I wouldn't have been able to do it, to tell you the truth. First of all, I had only saved for the first 6 or 7 months before the money flow stopped. And secondly, we spent everything I had saved to eat, pay medical, legal, accounting, and debt bills. Oh, and care repairs. Spent the last $250 last week on two new tires.But family members came to our rescue and filled in when our resources failed. I wish I had saved more ahead (ok, I *wish* we had saved up an emergency fund in ADDITION to the slip fee fund), so that we wouldn't have needed to ask for so much help.Now that life is beginning to even out, I plan to utilize my new financial savvy (along with the support & motivation from this board) to pay that back with haste.And...what's a slip fee? Heheh! Check with FredinSeoul. :-)
FloatinFool, Here's to life "evening out" , I, as I know we all are,am very, very glad you are able to say that. And here's to family and the great folks on the Fool. Ak, wishing all a happy and safe 4th of July, from the hills north of Fairbanks.
And I started an efund as well -- $25 a week... silly, but it's up to $500, and I haven't felt it.No $25 a week isn't silly. Wish I could afford to put that much in.joycets
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