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Have Both An Emergency Fund And An Annual Bill Fund

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While trying to live within your means works you need to also fund out of your cash flow an emergency fund and an annual costs fund. Once those are funded , everyday buffets don't make such an impact from needing a new washer to a long call to the plumber.

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The best change we accomplished was when we had an annual living expenses fund. That meant we could live without any money coming in for a year. For me, this fund was actually better than anything.
- Submitted by NJ_HOU 5/12/2010 in Saving Money | 2 Comments
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Member Comments

WINNIE-POOH 5/13/2010 1:48:00 PM

    Sometimes the Emergency Fund can get depleted before it gets fully funded. I am learning that to not sweat the small stuff and do without until I have to. emoticon
CHRISTURTLE 5/13/2010 6:02:00 AM

    Very important information, otherwise as soon as an unexpected bill arrives or an appliance or the car needs repairing, there goes the budget!

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