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Home > What seems like slow progress at a quick glance…

What seems like slow progress at a quick glance…

October 24th, 2012 at 06:43 pm

Every time I look at our EF, it reminds me that it is only 29% what is really should be. Sitting currently at 5K, we are hoping to have it at 7K by December 31, 2012. It should be at 17.1K for a FULL 6 month EF.

As I look back at the year, I can see why it has been stagnant, and I feel slightly better. This year we have paid for the following large purchases/ expenses/ prepayments in cash:

$10,400 = Windows for Phase 1 – 4 of 5 for the house.
$3,100 = Auto related, taxes, licenses, repairs
$3,000 = Additional total prepayments to auto loan.
$4,000 = Disney World Vacation

That is a total of $20,500 paid.

The auto loan was originated December 2011 for $14,300. We have managed to pay off 41% of that to date, yes, 10 months into a 4 year note! I hope to find some money to have it paid down to 50% by December 31, 2012. If we don’t add any additional to principal it will be at 47% by then.

4 Responses to “What seems like slow progress at a quick glance…”

  1. creditcardfree Says:
    1351105875

    Good luck getting to 50% of goal!

  2. texasdisneygirl Says:
    1351119182

    You are doing great! I didn't have any type of emergency fund until my late 30s!

  3. snafu Says:
    1351136957

    While it's very important to have an Emergency Fund the research and writings suggest the sum and it's set-up is flexible depending on specifics of the family. Good on you for creating the fund and adding to it. You're wa-aay ahead of the majority.

    Give yourself a big pat-on-the-back. Keep up the good work!

  4. Jerry Says:
    1351361976

    Just bear those realities in mind, and make a new goal for the coming year! It sounds like you are doing a great job, and continued focus will lead you to some insurance of much success. Getting to ±50% of your goal would be fantastic at this point!
    Jerry

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