Thursday, October 16, 2014

Emergency Fund Update

We have been trying to restore our emergency fund for about a year.   Last fall we replaced our family vehicle using the emergency fund because our old Suburban was really dying.  And then we had a car accident and we had to replace our commuter vehicle.  We quickly depleted our emergency fund, you can read about it here, and have been working at replacing it since then. 

We had saved 13% heading into summer, but had to use most of it for a big car repair (hello transmission!).  We would have been able to save more, but we are paying for DH to fly and visit his dad every month and we've paid about $600 twice for the whole family to go visit so the girls could see Grandpa.  So the saving had been going slow.

We were counting on a fall bonus to boost our emergency fund and then the hot water heater went out.  After covering that expense I'm happy to report our emergency fund is at 51%!  It feels so good just have a little cushion.   

Love, Katie

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