Emergency Fund – Goal Met!

03 Apr
by Jenny, posted in Consumerism/Minimalism, Ditching Debt, Money Honey, Saving More   |  10 Comments

I’ve had requests from several of you for an update on our emergency fund progress. I’m happy to report, our emergency fund is now completely funded.

Emergency Fund Graph

The timing couldn’t be better. I’m facing some financial uncertainty, as I talked about a few weeks ago.

This experience has driven me to pass along a very important message to you:

Although it may seem as though paying off your consumer debts and building an emergency fund equal to several months worth of living expenses is unobtainable, I’m happy to tell you it’s well within your reach.

Will it happen overnight? No.

Will it happen without sacrifices? No.

Will it take months — or years — to accomplish? Yes.

Will you ever regret deciding to get out of debt and save enough to live on for several months? Absoutely not.

If you’ve been thinking about taking a step in direction of consumer debt freedom, consider this your personal invitation. Make a plan. Take the first step. I can assure you it will be worth every sacrifice made.

You can do this.

There is noTHING I could have bought over the past 18 months that would remotely compare with the freedom, peace and restful sleep I’ve gained from breaking free from the shackles of consumer debt.

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Related posts:

  1. Emergency Fund Progress, Month 1
  2. Emergency Fund Savings Update
  3. Emergency Fund Savings Update – September
  4. Emergency Fund Update & Other Money News
  5. Emergency Fund Savings – October (And Other Ramblings)
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10 Responses to Emergency Fund – Goal Met!

  1. Ellen

    Wow. Congratulations! We just recently finally paid off the last of our consumer debt and plan to now get the EF fully funded, using most of the amount that had been going each month to debt repayment. (The rest probably will go toward saving for a replacement car.0 We are completely debt free now & the feeling is great!

    • Congratulations Ellen! That’s exactly what we did.

      You’ll be surprised how much more quickly you can fund an emergency fund when you don’t have to send a large chunk of your income towards monthly consumer debt payments.

      And it’s super fun to see the numbers going up rather than down!

  2. Congratulations Jenny. It looks like it took you less than a year too! That is pretty impressive. We’ve had to dip into our EF some this past year and every time we do we are so glad we have one. Like I always say, it turns a potential crisis into simply an inconvenience.

    • Isn’t that the truth Jon? We’ll likely need to dip into our emergency fund in the very near future also, which is why I’m so glad it will be there!

  3. Great job!! It is such a sigh of relief when you such a large and important goal as this. Just think how you will feel when you are totally debt-free including your home.

    • Yes Bryan! Mortgage payoff in our next phase of financial plans. I can only imagine how being free of that monthly obligation will feel.

  4. I just found your blog and I love it. Am going to go back and read all the archives and get myself caught up. Congrats on the emergency fund!

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