We've had a couple of very big expenses over the last month or so - first, my car was hit while parked, & the extremely rude person didn't leave a note. So, $1600 for repair bills. The second expense is ripping out some carpeting at our vacation house & replacing it with a wood laminate. I can't imagine who thought it would be a good idea to put carpeting at the entry to a house at the beach. Sand, sand, and more sand. I am not a carpet person anyway, but it's really in rough shape. So, the carpet removal was a planned expenditure - and then the car was damaged.
The carpet removal/laminate work is supposed to come in just under $2,000. *fingers crossed*. I've been working to rebuild our emergency fund after we paid the big expenses. (and, technically, the carpet work hasn't started, so we've only paid half.) As of today's payday, I was able to replenish the emergency fund a bit, and we're back to $10,000, which is my minimal amount for comfort. My ultimate goal is to have this account at $30,000 by the end of the summer, in anticipation of potential work changes.
How will I get to $30,000, you ask? That's a question I've also been asking myself. ;-) And, how did I come up with $30,000? Well, we own two homes, and M works for a small company. Having a big safety net is the only way I feel comfortable making a change, and I also need to have my 401K loan paid off by that time (currently at $42,000).
In terms of getting to $30,000 by the end of the summer & paying off my 401K loan, here's my plan:
- Standard monthly 401K loan payments between now & the end of the summer - $3,000.
- Stock award vesting at the end of August. Current value = $42,000.
- Estimated bonus (post-tax) = $10,000
- Current emergency fund balance = $10,000
- Payout on vacation days = $5,000
This puts me within $2,000 of my goal. Barring any other unexpected expenses, of course. And, those always show up when you need them the least, don't they. ;-) I'm hopeful that my bonus might be a little higher, but don't want to plan on that. I'm still trying to figure out the other $2,000. More on that later.
And, on to the weekend! This is the second weekend in a row that M is out of town, & quite frankly, I'm already exhausted. He came home late on Sunday & left Wednesday morning. He's gone until Sunday again. Yikes. Here's what's on the list of things to accomplish this weekend:
I think that will be plenty! What are you up to this weekend? How are you doing with your emergency fund? Is it fully funded? If not, what are your plans for beefing it up?
- Make homemade zbars.
- Make carrot muffins
- Make banana bread
- Return a bathing suit at the mall that didn't work out.
- Get all Father's Day/birthday stuff for M sorted out.
- Call my dad for Father's Day!
- Karate lessons
- Swimming lessons
- Get in two workouts
- Work in the yard (oh my, is there a lot to do!)
- Figure out menu for the next couple of weeks, & ensure we don't buy too much produce, as we'll all be out of town Monday-Friday of the last week in June.
- Get in one yoga & one pilates workout.
- Having friends over for dinner on Saturday