New Year…New..Furnace?!

I slept in gloves last night.  I wrapped up my kids into blanket burritos and hoped I would find them frostbite free this morning.  Were we camping?  Why else would I do these things you ask?  Well, the time was 8:00 p.m. on January f’ing 1st, 2019 when the alien mothership decided to land on our house.  The sounds, the coldness, the anticipation of finally getting chosen for abduction that filled our house on a blistering hot 20 degree night, the first day of the f’ing New Year.  When I noticed no aliens entering the house to take me back for probing, Matt investigated and determined it was actually the furnace.  The 20 year old furnace that nobody was “planning” to go out.  So, of course the earliest we can get our new “super affordable” furnace is tomorrow (air quotes sometimes equal sarcasm in my writing).  Fast forward to 5:07 p.m. on January f’ing 2nd, 2019 and my car decided to join in on the “fun”.  There is now a super awesome message it keeps telling me that blah blah chassis error and blah blah AWD error, so that’s gotta be good news right?

What do the two totally real life stories above make you wonder?  How is she going to pay for that after just coming off the holidays, property taxes, HOA dues, vet bills, etc. etc.?  Well..”she” is wondering the same damn thing right now (huddled next to her fake fireplace with fuzzy gloves on).  If it happened to you, would you be able to cover it?  Yes I’m getting at an emergency fund and yes I’m slightly lecturing you.  I have heard that anywhere from 40-50% of people don’t even have enough saved to cover a $1,000 emergency.  And let’s just say..that won’t even begin to cover “her” problems listed above. 

If you fall into the 40-50% statistic above (I won’t tell anyone), how would you handle life’s emergencies or unplanned expenses that have to be fixed before your burrito babies freeze?  Don’t worry, you can keep them in the burrito for about 48 hours, so you have a few days to get your funds gathered.  But if you only have a piggy bank to steal from one of your burrito babies, then maybe you should make this a focus of yours this January. 

How can you get $1,000 in an account that is liquid?! 

  1. Make it something you don’t have to do and you don’t miss by having your employer automatically put back $100 out of each paycheck into a separate savings account (If you can swing it then it will take just 5 months to get there.  Do more or less depending on your individual situation). 
  2. Sell your junk on FB or out of your garage or wherevs..the kind of junk people want to buy of course, and you would be surprised.  Go look around right now and tell me you can’t scrape together a few hundred bucks from random stuff you’re no longer using? 
  3. Save your tax return instead of “investing” in that new 60″ plasma flatscreen t.v.
  4. Cut expenses or increase income (these seem like no brainers, but could easily be covered by several posts in the future..spoiler alert)
  5. Don’t stop at $1,000!  Once you get it, make sure you celebrate and keep on going.  Most people will tell you that you should be able to cover 3-9 months of expenses with your emergency fund.  It’s your life though, so you decide what works best for you. 

Lastly, please send gloves and blankets our way ๐Ÿ˜‰

Advertisements

Author: mindytempleton7371

Tales of my imperfect journey towards financial freedom. Paid off $165,000 in debt and now working on building wealth instead! Grateful for: ๐Ÿ‘จโ€๐Ÿ‘ฉโ€๐Ÿ‘งโ€๐Ÿ‘ฆ+๐Ÿถ+๐Ÿก+๐Ÿง˜โ€โ™€๏ธ+๐Ÿƒโ€โ™€๏ธ+ ๐Ÿ“– +๐Ÿฅ— #debtfree #financialfreedom #minimalist #frugal #realestateinvestor

5 thoughts on “New Year…New..Furnace?!”

  1. Something we do is put $$$ away every month in an account for things like property taxes, HOA, insurance, incidentals. May or may not work for everyone but works for us.

    Like

    1. Thatโ€™s a great plan to have. You can figure out your total for the year and divide it over the 12 months to make sure you have enough set back. Love it and thanks for sharing!

      Like

    2. Having the separate account is good because you can setup automatic transfers, so you never even think about that money until you need it. You can also do the cash envelope system, which is like the exact opposite idea, and makes you distinctly aware of how much you’re spending. Or a combination of the two, by not using automatic transfers. The only thing that sucks about that is if you forget a payment/transfer, or get overwhelmed with expenses, it starts to become too much to deal with very quickly.

      Like

      1. Love the envelope/cash system also! My husband and I use that for our โ€œallowanceโ€ we pay ourselves for any extra items like coffee out or lunch

        Like

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s