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Emergency Fund Update

January 23rd, 2014 at 04:34 pm

$8085.19 Beginning EF Balance
+__10.00 Amount Added
$8095.19 Ending EF Balance

I also added $8.17 to the coin jar.

I am nickling and diming my way to $10K. So many people out there think they just cannot save. Even when things were super tight we managed to eek out $10 a week for savings. We let go of a luxury item, soda pop, and instead put that $10 in savings each week. We drank water instead so we weren't replacing the soda pop with another beverage or upping our intake of other beverages we already bought like milk or OJ.

I decided to save all my coins and add them to savings. This eventually turned into all of my ones as well that I got back in change.

Then we cancelled our cable for a savings of $100 a month (back then), and put that money into savings. Just between those three things, We managed to save between $140 and $200 a month.

Even if you can't put aside $10 a week like I did when I started out, try to put $10 a month into savings. It doesn't seem like much, but it does begin to add up. And the habit of putting the money in is just as valuable as the actual money you are putting in. You are learning to save so that when a bigger opportunity to save comes along you are ready to add it to your savings habit.

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