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Jump Start Successful

June 11th, 2009 at 11:46 pm

I lost steam in working towards my financial goals - and received a lot of support. So thank you everyone for jump starting me!

Our savings account has stalled at just $1,000 and some change. Now it's time to shift our savings into high gear and convert that baby emergency fund into a fully funded emergency fund.

In playing around with figures tonight, I realized I can reach my goal of $15,000 by the end of 2009 if I put away $2,000 every month. Yes, I could have $15,000 in the bank after seven months!

I should say that $2,000 a month is a lot of money for me. It's still going to be a little tight. And seven months isn't that long - just a little more than 200 days. I can do anything for just 200 days. Right?

So, I'm giving myself seven months to build this emergency fund to $15,000. Just seven months. It's not forever. Just seven months. Then I can move to baby step #4. Just seven months.

Current savings: $1,000
06/30/09 goal: $3,000
07/31/09 goal: $5,000
08/31/09 goal: $7,000
09/30/09 goal: $9,000
10/31/09 goal: $11,000
11/30/09 goal: $13,000
12/31/09 goal: $15,000

3 Responses to “Jump Start Successful”

  1. creditcardfree Says:

    Great plan! I'm sure you can do it. You might even find a few unconventional ways to add to the EF.

  2. kimiko Says:

    Minty Smile
    If that $2,000 is more than 50% of your take home pay, you're going to feel very deprived soon. So plan ahead for a splurge 3-4 months into it.

  3. ceejay74 Says:

    Put aside $75 per day, and you're there. Smile Good luck!

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