Thursday, June 10, 2010

Fully-Funded Emergency Fund!

It's official. My emergency fund has hit a HUGE mark!!


I can't believe that in the two years that I have been working full time, I have been able to save such a significant amount of money! :) (Okay, so technically it's at $15,036...)

It's enough to cover 10 months of expenses. It's also enough to cover some of the items I outlined a year ago and probably things I haven't thought of, either! I am so excited to have reached this milestone in my personal financial journey.

Now the question is... what do I do with the $150 I was funneling into my E-fund on a monthly basis? I have some ideas that I'll post about soon!


laura@nms June 10, 2010 at 4:00 AM  

Yay Well done! It's a great feeling.

I never realised the feeling of security that would come from having a large ef, it's hard to explain; I hope you're feeling it too :-)

Frugalista June 10, 2010 at 11:16 AM  

That's awesome! On my income it would probably take me 15 years to save that but I do make a point to save every month no matter how little. Always have.

MPP June 10, 2010 at 11:59 AM  

Woohoo!! That is awesome! Oooh so jealous of you right now... but also very happy for you. :) Congrats!

Maureen June 11, 2010 at 5:45 AM  

That is terrific, and motivational. Someday I,d like to be in your shoes.

Anonymous June 14, 2010 at 3:11 PM  

Awesome! Now save for some travel, retirement, invest in an index fund, save for a new car? So many choices. I am currently saving for a vacation, IRA, furniture, two weddings/bachelor parties, and a downpayment. If you have no goals yet, set some!

SS4BC June 14, 2010 at 8:08 PM  

That is so great!!!

How long did it take you to save this amount??

MoneyMaus June 16, 2010 at 2:18 AM  

@Laura - It is definitely a great and weird feeling! :)

@Frugalista - You are doing exactly what you should be...SAVING! Keep it up.

@MPP - Also jealous of you with your awesome dream job and your boyfriend! I'm single ;)

@Anon - Yes, soooo many choices!

@SS4BC - I started building my E-Fund with a $50 check from one of my college professors upon graduation. So, it's taken me almost exactly 2 years... the money came from monthly budget leftovers, tax refunds, bonuses at work, and random other windfalls!

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