Total Money Makeover- Save $1,000

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Y’all! My poor Barbara is in the shop. It’s something to do with the bearings in her drive shaft, which sounds very … personal. I have no idea. I just know she sounds like we’re dragging around screaming woman.

Accompanying the screaming woman this past week has been the weeping deep freeze. Yep, our deep freeze went out causing a mad dash for coolers and another raid on the emergency fund. {sigh}

Speaking of emergency funds, do y’all have one? A $1,000 cash starter emergency fund is numero uno on Dave Ramsey’s list of baby steps to financial freedom. Jack and I haven’t officially started saving our emergency funds because we’re still in the ‘become current on your bills’ stage, but we did have a recent HPES payday stashed so we were able to pay for repairs to the deep freeze and the first round of Barbara’s treatment.

In his Total Money Makeover Workbook Dave Ramsey quotes Money magazine as saying that 78 percent of us have a major, budget-blowing events in any given ten-year period.  In the nearly 19 years we’ve been married Jack and I have experienced sudden job loss, major vehicle repairs, deaths of close loved ones, prolonged illness and hospitalization, natural disasters, major home damage, and the breakdown of major appliances, all of which Dave categorizes as emergency fund fodder. In fact, much of our current debt would be non-existent if we’d had emergency funds in place back when the emergencies hit. Again, {sigh}.

So, first on the list as soon as we get Barbara out of hock: building back that $1,000 cushion! Murphy’s Law guarantees we’ll never need it as long as we’ve got it!


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