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And Now the EF is over $14K!!

February 27th, 2015 at 09:03 am

Our income tax refund came. It actually came on the 25th, but since I have never had a refund come on any day but a Friday before, I didn't bother checking for it until today. So here is the new Emergency Fund Balance.

$12,075.00 Beginning EF Balance
+_2,000.00 From Income Tax Refund
---------------------
$14,075.00 New EF Balance

My goal for the year is to get the EF to $15,000. So now just $925 to go. $15K is both my main goal and my next mini-goal. $15K is the most minimal of expenses to survive for 3 months with no pay. It's not a comfortable 3 months, but between that and unemployment we could survive on it.

The goal after hitting $15K will be $21,000, which would be 3 months of very comfortable living or 4 months of tight living. But I imagine that will take another year and a half to two years of savings to get to. It'd be faster, but we have some college to cash flow.

5 Responses to “And Now the EF is over $14K!!”

  1. Ima saver Says:

    Congratulations!! You have been working hard!

  2. VS_ozgirl Says:

    Awesome!!

  3. Ladya70 Says:

    Congrats!

  4. FrugalTexan75 Says:

    Way to go!

  5. TD Says:

    Fantastic! That has to feel so great Smile

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