Friday, October 19, 2012

Re-balancing my books

The bloggers of the PF world have spoken, and I will be building up my EF before going full strength on my debt. I think that makes sense. Not sure how much I trust this plan, but these ladies and gents have more experience than I do, so I'll go for it.

What does that mean in the very short term? Let's compare.
Original plans: EF refilled by end of Apr, CC1 paid off by end of Jan, $2000 car fund complete by May.
New plans: $1,000 EF by end of Dec, CC1 paid off by end of Feb, $2,000 car fund complete by May.

Huh. Yeah. I am confused as well. But doesn't seem the building up of the EF first changes things a whole lot. I guess on my original plan, the priorities were the CC1 and rebuilding that car fund at the same time as rebuilding the EF, so they both took a lot longer than fully dedicating to any particular one. I'm alright with this plan.

It seems I may also be able to give myself a $10 cost of living increase per two weeks starting January. That's pretty nice. I'm giving myself a raise! I'm such a good boss. So instead of $150 for personal/food/misc/gas, I'll have $160. Hurray! I'm just hoping gas doesn't go up to eat that extra.

I'm off to take a nap. This week has been WAY too long...


  1. Remember having an emergency fund means if YOU(not your family YOU) have and emergency you can use that money without paying interest or increasing your debt.

    I know its seems strange when you could be putting the money on the cards instead but when the next emergency creeps up you will be glad.

    congrats on your raise :)

    1. I'll try my best to remember that once the EF is on its feet!

  2. so glad to see you are going to build up your emergency fund, it really will help you get some traction financially and once you have one you actually don't want to dip into it, at least thats what I've found. Congrats on the raise!!!

  3. I'm glad you're doing this as well!

  4. I think that's a really good plan!!! Good luck! And remember, their failure to plan to does NOT constiture and emergency on your part!!!!!