You would think that after spending almost four years paying off all our credit cards and loans, that we would just sail right into building our 3 to 6 month emergency fund. But that's not the case. It seems we have hit the brakes and are losing steam.
Don't misunderstand - we are still debt free and we will NEVER pick up another credit card again.
But we should be using that "debt snowball" to build our emergency fund, and we're not. We went crazy spending cash recently. Spent $2500 on replacement windows. Spent another $2200 on a built-in entertainment center. Gave $700 to our son to help him out. All this in a matter of months!
We have to get back into the Dave Ramsey mindset and build that emergency fund NOW.
If I can just remember WHY I started these Baby Steps in the first place, perhaps I can get my steam back.
Here are some things I am looking forward to when we reach baby step #7 -
... Buying a car with air conditioning (or maybe even a convertible)
... Crocheting for charity using exotic specialty yarns
... Getting a personal trainer and train for a marathon
... Buying a house on the lake
... Taking my kids and grandkids on a cruise
... Hiring people to do the things I don't like to do - mowing the lawns, shoveling the driveways, painting the house, cleaning the gutters, etc.
... Traveling around the U.S.
... Seeing a hockey game from one of the box suites
Yes, there are a lot of things I would love to do in the future. I need to buckle down and get back to saving. NOW.
Losing steam....
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