A fully funded emergency fund includes enough cash to cover 3-6 months of expenses. This isn't want-to-haves or not pleasure spending. We're talking flat out expenses like the mortgage, insurance, food and electricity.
We'd been close for a long time, so long that we moved on to the next Dave Ramsey baby step and started investing 15% in our retirement funds.
Then we got new jobs, things changed and we felt we should build a larger fund - stockpile in case of a very rainy day.
That is a far harder thing to do when you're putting 15% of your income into retirement and tithing 10% of your income to God, plus paying expenses, saving for the want-to-haves and enjoying limited pleasure spending.
So we scraped and we saved every last penny and put it in the emergency fund piggy bank.
And finally, we did it.
Now on to putting every last penny onto our mortgage. Hayley House balance, we're gunning for you.
|Source - via www.SeniorLiving.Org|