I haven’t been feeling very well the past few days, and it’s totally throwing me off. Here’s what you need to know:

Sleep: Lots. Probably too much.
Food: Plain pasta and other bland carb-o-licious things.
Everything else: Meh.

However, my permanent station on the couch has given me a great opportunity to ponder my finances.

Since I got my first “big-girl” job about 2 years ago, I’ve managed to to put about 4 months (just about $6000) into my emergency fund. While that looks impressive to me when I write it out like that, I know that I could have put away more if I reserved my emergency fund for actual emergencies instead of any ole occasion where I want to spend more than what’s in my wallet.

So, even though my goal was to save 6 months worth of expenses in my emergency fund, I’ve decided to put the emergency fund on hold and start saving for life. For example, with my boyfriend living on the opposite end of the country, travel is a regular part of my life. I need to be more diligent about putting money away for those things so that I’m not draining what should be a true emergency fund.

I had 2 things come up this past year that “scared the sense into me” you could say. One was an unexpected medical bill and the other was what turned out to be a minor car issue. Made me think that if my car died tomorrow, I might wish I hadn’t spend $300 on plane tickets and $200 on clothes and gifts last month, eh?

You might be thinking “saving is saving…what does it matter if you call it ’emergency savings’ or ‘splurge savings’?” but to me it’s really learning the lesson that I have to be prepared for a true emergency and that I can’t live beyond my means.

How do you handle your savings? One lump fund? Broken out into your goals? Do you have an established emergency fund, or are you just starting out?

Stay tuned for things I’m doing to save!


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3 Responses to Save-Nation!

  1. Personally, I break up my savings into what they are intended for. I bank with ING Direct and they have no minimums or fees, so I am able to have 5 different savings accounts. You can even name them whatever you want so your online statements will show “shoe fund” and “ipad fund.” It is a fun way to keep your eyes on the prize so-to-speak.

    • Kristin says:

      I just switched my savings over to ING a few weeks ago. The interest rate I was getting at my big national bank was an absolute joke! I have 2 seperate accounts already, but I think I’d like to make a few more.

      Great minds think alike, eh? 🙂

  2. Pingback: I Saved! Now What? | Keeping It SO Simple!

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