Dear Friends and Family,
2008 was a great year. We were finally able to save enough money to have our rainy day fund fully funded. (It's one year's worth of cash should both Mr. mouse and me lose our jobs.) And just when I felt a sense of accomplishment, I realized it wasn't over. Because interest rates are so low, and we have the money in a money market account, it won't keep up with cost of living adjustments unless we add to it each month.
So, I did the math and I took a margin of error that's probably way too high, but that's okay, and decided we'll funnel an additional $200 into the account each month. That'll require a little extra budgeting on our part, but to be honest, compared to building up the fund, it's not bad at all. As with all things in life, it's much easier to maintain than it is to reach the initial goal.
We made our January contribution so we're all up to date.
Cheers!
mouse
2008 was a great year. We were finally able to save enough money to have our rainy day fund fully funded. (It's one year's worth of cash should both Mr. mouse and me lose our jobs.) And just when I felt a sense of accomplishment, I realized it wasn't over. Because interest rates are so low, and we have the money in a money market account, it won't keep up with cost of living adjustments unless we add to it each month.
So, I did the math and I took a margin of error that's probably way too high, but that's okay, and decided we'll funnel an additional $200 into the account each month. That'll require a little extra budgeting on our part, but to be honest, compared to building up the fund, it's not bad at all. As with all things in life, it's much easier to maintain than it is to reach the initial goal.
We made our January contribution so we're all up to date.
Cheers!
mouse
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