I’ve been putting money into a savings account to fund an emergency fund of three months of living expenses for more than 10 years. The emergency fund has been depleted time and again over the years, mostly because of emergencies. There have also been periods of employment where I could only save $25.00 per month. When you are shooting for $5100 in savings, depositing $25.00 per month can be particularly disheartening.
Still I persisted. And this month, I’m proud to say that I have reached my emergency fund’s first goal. Yip-yip-yipee! My next goal will be to have six months of living expenses in the bank.
What should I do to celebrate? Perhaps buy a pony?
Kidding. I’ll probably read another personal finance book.