No. of Recommendations: 13
The e-fund balance is $539.36 after yesterday's deposit! Woo hoo!

I also saved myself about $132 yesterday by changing my deductible for my car and renter's insurance from $500 to $1000 each. Even though I don't HAVE $1000 (yet!), I figure that I didn't have the $500 in the bank even a week ago, so I'm NO worse off in terms of something happening to my car or my stuff, and in a few more weeks (6 or so?) I will have the entire $1000, so then I just have to hope that nothing happens to my car AND my stuff at the same time.... Medical insurance deductible will be next, but not for a while. I'd like to have a little more in the bank in case the worst should happen!

I'm also starting a freedom fund, per Dianakalt's example. I sat down the other day and figured out how many different bills are NOT monthly, and how much I need to put away for those each month. Health insurance is quarterly, auto insurance is every six months, renter's insurance is once a year, clothing expenses are not regular, and neither are doctor's visits. Dental visits are quarterly right now, at least until I get my gums in better shape.... All told, 'irregular' expenses are $265 a month. I printed off the checking account application yesterday, and will open it by the end of the year to start funding it in January. It will take some time to get organized and be able to move from paying some things monthly to the 'real' schedule AND save money for the following payments, but I figure it will work itself out within 2003.

I figured out how much OT I'd need to work to manage to save $40 a week AND put the appropriate amount of funds into the Freedom Fund, and if I work less than 5 hours a week of OT, I'm still in good shape. I haven't averaged less than 10 hours a week in months, so I think I'm covered! Of course, that doesn't cover a snowball to my cards, but that will happen, too, little by little!

Cassandra
Print the post  

Announcements

UGC Disclosure Notice Regarding Credit Card Posts
Community board discussions about credit cards are not provided or commissioned by banks who may have advertising relationships with The Motley Fool. Responses have not been reviewed, approved or otherwise endorsed by the bank advertiser. It is not the bank advertiser's responsibility to ensure all posts and/or questions are answered.
TMF Credit Center
The Motley Fool Credit Center arms you with real tools and simple messages, that will help you in every credit situation.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.