Operation Emergency Fund is Complete!

Finally, after a few months of saving, my initial emergency fund is complete. I decided on an amount of $1000 – a number that I felt was achievable in a short period of time but also large enough to actually be useful in case something unexpected happens.

I feel awesome about this achievement. For the first time, I really feel like I honestly have my finances under control and I’ve accomplished something I’ve wanted to do for a while now. In one word: relief. If I need a new part for my car, I won’t panic. If I need to buy a new Xbox game, I know I can. Just kidding about that last one.

I’m still going to contribute a bit from every paycheck to the emergency fund. I won’t ever consider the e-fund “done”. Can anyone honestly say they only want $1,000, $5,000, $10,000 or even $50,000 in their emergency fund? Bigger is always better. Or so I’ve heard…

But I’ve even more excited about having some cash freed up to save for other goals: upcoming college expenses, study abroad in a couple of years, new car someday, etc. And, of course, I have no problems letting myself spend a bit from each paycheck on fun stuff. Xbox games actually don’t grow on trees, ya know?

Take home lesson: Start that emergency fund. Fund it like it’s your job. Sleep easy.