Home > Emergency Fund Update and Bonus Thoughts

Emergency Fund Update and Bonus Thoughts

November 16th, 2013 at 12:19 am

I deposited the coin jar money into the safety net portion of the Emergency Fund today. It was $43. I also sent $100 to C1-360 to the primary EF.

$7534.86 Beginning EF Balance
___43.00 Coin Jar Money
+_100.00 Monthly Deposit
$7687.86 Ending EF Balance

That leaves me with $33.14 to come up with this month to meet my November EF goal of $7720. I've got 2 more Thursdays this month, so that will take care of $20 of it, so really only $13.14 to scrape up. That should be easy enough.

I am hoping to have it to $8000 by the end of the year. That's a bit of a stretch, but I think I can do it.

DH found out that bonuses come out on December 20th, so we should get it by the end of December. I have no idea what to expect. The first year he worked for this company the bonus was 10% of yearly income. The 2nd year it was 5% of yearly income, because they only had small projects. DH says they did a lot of big projects this year and big projects usually come with more bonus money.

10% would be fantastic. It would mean putting aside enough to finish funding DD's first year at community college and having enough left over to pay the mortgage off (It's just over $8200), with a tiny chunk to the EF. 5% would still be pretty awesome, meaning having enough to pay for her college and having a small chunk left over to go to the EF.

I'm keeping my fingers crossed for 10%, but I will still be happy with anything they give us.

0 Responses to “Emergency Fund Update and Bonus Thoughts”

Leave a Reply

(Note: If you were logged in, we could automatically fill in these fields for you.)
Will not be published.

* Please spell out the number 4.  [ Why? ]

vB Code: You can use these tags: [b] [i] [u] [url] [email]