| Posted By |
Message |
MarathonKnitter
HAPPY
Member since 2/07 17374 total posts
Name:
EMBRACING CHANGE
|
look what i just posted on the TMMO website!!!! re: my fully funded emergency fund UPDATED TO ANSWER QUESTIONS
i just posted this on the:
MY TOTAL MONEY MAKEOVER MSG BOARD
WOO HOO!!!!
ok, when i signed up for this forum, my budget was so tight it cried.
i only had enough room for $50/month to go towards my EF
with the money that was already in there (if there were no snowflakes), it would take me until December of 2031 to reach a FFEF. YIKES! yes, i know.
a few snowflakes came in this month and i was able to knock the ETA to May of 2031.
after doing some math/soul searching, i realized that i'm overpaying in my withholdings. i changed my W4. the change affected today's paycheck. i now have an extra $100 going to my EF/paycheck (twice a month)... a total of $250/month!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
that means that my new ETA on my FFEF is:
drum roll please
FEBRUARY 2013!!!!!!!!!!!!!!!!!!!!!!!!!
**HAPPY DANCE**
Message edited 1/31/2009 9:03:53 AM.
|
Posted 1/30/09 4:29 PM  |
| |
|
Long Island Weddings
Long Island's Largest Bridal Resource |
steph4777
**************
Member since 5/05 11726 total posts
Name:
Stephanie
|
Re: look what i just posted on the TMMO website!!!! re: my fully funded emergency fund
Congratulations!!! I'm almost done reading the book. It's nice to hear about people who have success with it.
|
| Posted 1/30/09 6:27 PM |
| |
|
MarathonKnitter
HAPPY
Member since 2/07 17374 total posts
Name:
EMBRACING CHANGE
|
Re: look what i just posted on the TMMO website!!!! re: my fully funded emergency fund
Posted by steph4777
Congratulations!!! I'm almost done reading the book. It's nice to hear about people who have success with it.
i'll be the first to admit that i drop the ball a lot of times, but it definitely has changed the way i see things!
|
| Posted 1/30/09 6:54 PM |
| |
|
CroatianBride
Our Angel Ivanka Rose <3
Member since 7/07 2031 total posts
Name:
Tat
|
Re: look what i just posted on the TMMO website!!!! re: my fully funded emergency fund
Sorry, I'm totally lost when it comes to this stuff, what do you mean you were overpaying in withholdings?
|
| Posted 1/30/09 7:41 PM |
| |
|
MarathonKnitter
HAPPY
Member since 2/07 17374 total posts
Name:
EMBRACING CHANGE
|
Re: look what i just posted on the TMMO website!!!! re: my fully funded emergency fund
Posted by MagicFairyDust
Sorry, I'm totally lost when it comes to this stuff, what do you mean you were overpaying in withholdings?
don't be sorry. this is why LIF is here... we all learn from one another 
we all owe taxes. many of us overpay and get that back in a tax refund. that is overpaying in withholdings.
you are giving the government an interest-free loan.
i changed it, because i can use the money better paycheck to paycheck
hth
|
| Posted 1/30/09 7:47 PM |
| |
|
CroatianBride
Our Angel Ivanka Rose <3
Member since 7/07 2031 total posts
Name:
Tat
|
Re: look what i just posted on the TMMO website!!!! re: my fully funded emergency fund
that totally does help! I actually claim 0 to get the most taxes taken out so I can get a larger refund, but maybe now I'll change it to 1...you're right, month to month is probably more useful to pay off some bills, i always use my lump sum on something stupid anyway
thanks!!
Message edited 1/30/2009 8:19:06 PM.
|
| Posted 1/30/09 8:18 PM |
| |
|
MarathonKnitter
HAPPY
Member since 2/07 17374 total posts
Name:
EMBRACING CHANGE
|
Re: look what i just posted on the TMMO website!!!! re: my fully funded emergency fund
Posted by MagicFairyDust
thanks!!
glad i can help
|
| Posted 1/30/09 9:03 PM |
| |
|
OStewarts
LIF Adult
Member since 11/07 1096 total posts
Name:
|
Re: look what i just posted on the TMMO website!!!! re: my fully funded emergency fund
Congratulations!
|
| Posted 1/30/09 11:22 PM |
| |
|
CkGm
They get so big, so fast :(
Member since 5/05 13848 total posts
Name:
Christine
|
Re: look what i just posted on the TMMO website!!!! re: my fully funded emergency fund
That's awesome! Just curious though, what is a fully funded emergency fund? One year's salary?
|
| Posted 1/31/09 12:42 AM |
| |
|
MrsBunnyBear
LIF Infant
Member since 9/08 143 total posts
Name:
|
Re: look what i just posted on the TMMO website!!!! re: my fully funded emergency fund
Posted by CkGm
That's awesome! Just curious though, what is a fully funded emergency fund? One year's salary?
I am curious of this too!
And did someone say they are reading a book?
what book?
Message edited 1/31/2009 8:25:57 AM.
|
| Posted 1/31/09 8:25 AM |
| |
|
Peainapod
Peanuts are here!
Member since 1/09 13591 total posts
Name:
Diana
|
Re: look what i just posted on the TMMO website!!!! re: my fully funded emergency fund
Posted by MrsBunnyBear
Posted by CkGm
That's awesome! Just curious though, what is a fully funded emergency fund? One year's salary?
I am curious of this too!
And did someone say they are reading a book?
what book?
sounds like a Suze Orman book..but i could be wrong.
|
| Posted 1/31/09 8:42 AM |
| |
|
MarathonKnitter
HAPPY
Member since 2/07 17374 total posts
Name:
EMBRACING CHANGE
|
Re: look what i just posted on the TMMO website!!!! re: my fully funded emergency fund
there are a few of us on LIF who have read and/or are following Dave Ramsey's TOTAL MONEY MAKEOVER.
he's 20million times better than Suze Orman... my opinion, only
the plan in his book is broken down to BABY STEPS. i'm in BABY STEP #3, which is to save 3 to 6 months' of living expenses (not income).
if you have any more question, please ask
|
| Posted 1/31/09 9:03 AM |
| |
|
Peainapod
Peanuts are here!
Member since 1/09 13591 total posts
Name:
Diana
|
Re: look what i just posted on the TMMO website!!!! re: my fully funded emergency fund UPDATED TO ANSWER QUESTIONS
awesome...im going to bookmark this..
i work in publishing and our company publishes some of Suze Orman's stuff..
I've heard good things and bad things about the advice she gives.
thanks for the info!
|
| Posted 1/31/09 9:08 AM |
| |
|
