yes. Since I quit work we live off of my dh's salary (pay bills and buy groceries only) and whatever money I make doing odd jobs (I mow two elderly ladies yards down the street and am a vendor at Wal-mart for Little Debbie 5 hours a week, plus I carve gourds and sell them) is split into different envelopes. 35 percent goes toward house expenses (emergencies), 35 percent towards gifts and 30 percent towards entertainment (if we don't have any money in entertainment we don't do anything including eating out).
Yes, we do have an emergency fund set up. It isn't a huge amount or anything, but it would get us through most emergencies. Our goal in 2008 is to set aside a minimum of $5000 and then not touch it.
Right now we have $180 in savings.. which is $175 more than we have ever had in our 8 years of married life! LOL This year we have almost all of our debt taken care of, so we will be using $1k of our tax return to add to our emergency savings. In addition to that I have started saving for next year's home insurance premium & maintenance on our home & car. Granted, if anything were to happen right now we would have to figure out how to cover it, but we will be in better shape soon.
__________________
-Sarah
My "Forget the Joneses" Blog: Click Here
We did have one, but unfortunately had to use it last year. Now, it's down to a meager amount and we're hoping to replenish it during the FTJ challenge.
__________________
SAHM of 4
August food budget (groceries/take-out): $500.00/$75.00
Total spent: $238.97/$14.12
$1000 like Dave Ramsey suggests! Of course I'm probably gonna add another $500 in a few weeks. We've had the $1000 for about 6 months now (since I read TMMO) and haven't had to use it, but for some reason I'm thinking an extra $500 would be nice!
__________________ Stay at home mom to my 3 boys... ages 5, 3 & 1!
I can do all things through CHRIST who strengthens me. Philippians 4:13
We never had any savings until recently, then I finally wised-up and started an emergency account. Even though there is less than $1,000 in there right now, I feel a little more secure. I am going to use 2008 to try and build it up a little more. (Although, I am ashamed to say, I have a load of debt I have to clear up first )
for my friends from africa
My gourds made the front page of the paper!!
Now, it's down to a meager amount and we're hoping to replenish it during the FTJ challenge.
)
Linear Mode
