Wednesday, November 9, 2011

Wednesday, why a $1000 emergency fund is not enough

     Well I have enough to pay the other $3500.00 to the final Credit card, but...... I also had to charge about $1800.00 worth of costumes for the next show that will be paid off in December, so I don't feel like it is paid off.  If I have to wait until the 15th of next month for a 0 balance it is not paid off.  I also have a $700.00 bill left at US Bank that I just found out about.  I would go into the details on this but they are too confusing and are due to their screw up the end of August, but also my over excitement to get away from them.  I do owe this money.  I then have the overdraft protection at my personal bank that is in use right now due to Hubbies medical bills. (no interest for 30 days)  We have not received the finals yet but they will have to be paid.  The whole lot of unexpected expenses is well over $1000.00.  I have $400.00 in my tire savings and I need new tires on the truck.  I am $400.00 short.  I could use the emergency fund but for which emergency?  I have 4 right now.

     The stubborn part of me says, send the $3500.00 to the card and call it paid off, see I really want a U-RAHH!!!! from a special person.  But that is not realistic when I have a $700.00 bill a tire account that is $400.00 short and medical expenses that are at $500.00 and climbing.   Almost half of my $3500.00 is gone!  What happened.?  Life happened.  My well laid plans are dashed.  I will have to make a smaller payment to my debt, and pay it off next month.  But my payroll will go way up and it is Christmas.  Oh my aching head. No matter how many times I go over the figures, I still owe the money.  Damn, debt it so sticky, you just can't shake it off.
     I do not want to totally use my emergency fund down to 0 because something always happens when I do.  But I have been thinking for a long time that $1000.00 is not enough.  I really need about $3000.00.  Right this minute I could use $2000.00 and still leave $1000.00 in the fund.  The problem is it is not there.  Debt payoff has been such a priority that I have ignored the obvious.  I am paying down the debt too fast.  I love the gazelle intense philosophy it keeps me focused but, I still have to face reality.

     Little Lamb, has been posting about people giving her a hard time about saving money and not giving herself a break.  People do the same thing to me.  But I truly will do almost anything and deny myself much to get out of debt.  Alas I cannot avoid snow tires, and I cannot deny my husband's medical emergency, I can kick my butt for the $700.00 at US BANK, but it was hidden from me during the check fiasco.  In reality I thought my payoff was a little low, I was just so glad to be out.  Remember how I left that bank in about 1.5 hours.  Well I/we(the bank) did not do our house keeping very well.  Summer bills were coming in and I did use borrowed money in August to keep the studio afloat.  I knew that.

     Okay I have beaten myself up enough over this.  I must go on and do something productive.  Once again I will go back to the Mundis approach.  I have a roof over my head, food to eat, clothes to wear, (and my own adage, a good job I continue to draw from, and some MAD skills).  I will be survive.

     Out My Window:  Husband cannot seem to get the timer light to work correctly in the chicken coop.  I think my chickens are confused.  Actually, I don't think you can confuse a chicken, they are just not that bright. (kind of like their owner with her finances) 

     I was still not able to finish any of my dances last night, I can see the light but it is just hard with 28 kids in 4 numbers that are long and difficult.  My dancers are much younger than they were three years ago when much of this choreography was set, so trying to bring them up to an old standard is slow going.  But I know they can do this. I have one more week before we go into Thanksgiving vacation and then only two lessons and a 2 rehearsals before the show.  Just cutting it too close for comfort.  This can be done.

     Do you ever feel like my life is a version of the little engine that could?  I feel like all I do is try to convince myself I will make it.  We did take in another large group of checks last night.  I beleive we only have $595.00 worth of tuition outstanding  and it was the 8th when I figured this out.  My late charges are disappearing before my eyes.  Isn't that great!

     I have to get dressed and get some sewing done, I have a Jr High rehearsal today and then I have to teach until 8 tonight.   Lots of stuff going on.  (lots and stuff, two words never allowed in a high school level paper)  My life has lots of lots, and stuffs,  How about yours?

Have a great and productive day!



  1. I agree, Kim! $1000 isn't *nearly* enough for an emergency fund! I posted about my emergency fund the other day... We've used over $4K in the last year from it, and I'm building it back up. My bare minimum is $3K, we're a family of 6. I'd REALLY like to get $5K in there, but we're living on a lower income, especially for a family of 6, so it's a slow process!

  2. I have said for a long time that $1000 isn't enough. Part of my reworking the plan is making my EF at a level that I feel "safe." My whole life is an I totally get your "where do I put the money" question.

    Can we just throw the money up in the air, and where it lands, is where it goes?

  3. I didn't feel comfortable with $1000 either. Although $1000 was actually $1000 more than I'd ever had. I think you have to decide for your own family and situation what a comfortable amount is.

    If I were you I think I think I would clear up that $700 US Bank charge, the medical bills and get the tires from that $3500. Take the rest and pay it on the final credit card. Then when you get extra from your sewing that you would have used to get the tires add whatever you need in and try to pay it off in December if the funds are there and add any extra to your emergency fund. Then starting Jan build your emergency fund up to whatever feels comfortable.

    This way you will get the satisfaction of not going further into debt, paying off the final credit card and not touching that emergency fund.

    You are doing awesome and I understand just wanting it gone! I truly do. But life is still happening while all this debt repayment is going on. Sending you big hugs!

  4. you WILL make it kim! we'll all be behind you helping you push that little engine over that hill.

    I feel like $1000 is not enough, I'm a bit more confident with $3000, but then also want the debt gone asap.
    hang in there!

  5. Money is always toghter around the holidays. It frustrates me too.


    ps can you please email me at about your secret santa info?