Emergency Fund Update – 90%

Hey guys,

As of this morning, I have hit the 90% mark and it feels amazing!

Though I must say it’s less amazing, however, than hitting the first 10%. I suppose there’s some psychology behind the idea of throwing money on a small pile as opposed to throwing money on a big pile — the former probably feels far more rewarding. Regardless, the bigger number — 100% — is what I’m after and to be this close to it really does feel great. And just to clarify, it has been no easy feat. I am really moving things around to hit that target because I am determined and focused. For those of you paying attention, my last Emergency Fund Update post had me at 80%, so it’s really incredible to me that I’d be able to increment 10% at a time.

To put things in perspective, the amount I’m saving each time is more than I used to make in two months when I was younger. Just insane.

Moving forward, I am trying to see what I can do to make that last stretch and finally hit 100%. The gears are already turning. Because, you see, I intend on hitting that goal before the month is over, but it is not yet immediately clear how I will get there. What inspired me to hustle this month is a few things, but also remembering this important quote:

Don’t save what is left after spending; spend what is left after saving.

— Warren Buffett

Ha! This seems laughably obvious, yet in practice is counterintuitive. I love when things can be put so succinctly, yet have such an impact.

One thing is clear — you can bet when I hit 100%, I will be celebrating that milestone. That marks the end of one journey and the beginning of another. The achievement of my first huge goal and the beginning of actually investing.

You get the idea.

6 Responses

    1. Tawcan,

      I appreciate that! I really hope I do hit it soon.

      Not sure how I’ll celebrate but it will probably involve something less frugal than usual!

      FM

    1. D4S,

      It feels excellent to have the buffer in case things go south. The other nice thing is that my Emergency Fund generates a bit of interest since it’s in an Ally savings account. So, left alone, it will continue to grow. And I will add to it as my average monthly expenses grow (though I am fighting hard to spend less actually). So maybe I’ll adjust it down at some point and dump the difference into the market. :)

      But the best part is that we have options! Fully agree with you.

      FM

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