Baby Step 1 -- getting $1,000 in emergency fund
February 23rd, 2006 at 03:09 pmAccording to the teaching of Dave Ramsey and Crown Financial, we are working toward getting $1,000 into an emergency fund before we tackle our debt head on. This will keep us from going into further debt if the car needs repair or something.
We've got $250 saved so far. I may be able to put another $200 in the account, but I'm really not sure how much money I have in my checking account -- a lot of unreconciled debit card purchases.
I get paid tomorrow. We're living with my wife's parents for the time being so we have a lot of extra money to get ourselves on track financially. I don't know how much I get paid -- this will be my first full check at the new job and I don't know what the check will look like after taxes and other deductions. I'm excited to find out!
After payday tomorrow, I might be able to put another $500 into the emergency fund. In any case, I think we'll have the it funded in under a month!