Financial Challenges Support Group
This community is for people who are struggling to meet financial obligations of any kind. Financial challenges include everything from the day-to-day challenges of making ends meet to managing credit card debt to bankruptcy. Get support from others who are going through similar obstacles on the road back to financial stability.
I have been trying for over 5 yrs to start myself an emergency fund, as you can see on my profile, my emergency fund has never been successfully completed.
I try to control my spending, but it always works out somehow that I have to draw on it as soon as it makes it to a decent #. for instance, I made it to $200 dollars at one time, and my children needed clothes.
It is so frustrating to have to always make it and then it just gets depleted as fast as I put it in there.
So here I am again wondering if I can do this. Start an emergency fund. Starting this month, on the 25 Th of each month I will be putting a set amount away from my per ca pita, which comes once a month. This money is money that is set aside by our tribe. So I think that is extra money for us to save for future emergencies. So I am going to start setting this money aside and use it for only emergencies.
I should be able to keep this money set aside because I have a job and should be able to live only on my monthly pay.
I need to make a budget and work as hard as I can to stay within that allotted budget.
Any suggestions DS.
I try to control my spending, but it always works out somehow that I have to draw on it as soon as it makes it to a decent #. for instance, I made it to $200 dollars at one time, and my children needed clothes.
It is so frustrating to have to always make it and then it just gets depleted as fast as I put it in there.
So here I am again wondering if I can do this. Start an emergency fund. Starting this month, on the 25 Th of each month I will be putting a set amount away from my per ca pita, which comes once a month. This money is money that is set aside by our tribe. So I think that is extra money for us to save for future emergencies. So I am going to start setting this money aside and use it for only emergencies.
I should be able to keep this money set aside because I have a job and should be able to live only on my monthly pay.
I need to make a budget and work as hard as I can to stay within that allotted budget.
Any suggestions DS.
1-progress
2-setbacks
3-suggestions
4-obstacles
5-vent
I sure can relate...I have given up on emergency funding..Something always comes up..cars breaking down , medical bills, back to school and supplies for kids, you name it...washer breaks down...yeh all that has happened to me within the last 2 mos..I have come to put it on my cc, get the miles for it and pay as I go..Sometimes I can celebrate I am debt free but then something else comes up a mos later..As long as my bills are getting paid and I am not going crazzzy with being overwelmed then im ok by using my card..
I guess this yr when the taxes come back I will set some aside as emergency fund and try not to touch it...but If I do that instead of putting that money on my house which helps reduce the interest rate and principle amount owed its still like saving 6 percent interest..so which is better...Thats again why I tend to fail at saving for emergency fund...Its still cheaper to use my cc plus Ill get the miles...which despite what dave ramsy says if you use it and pay it right away then its useful..