As I talked about in my last post, the last several weeks were expensive! Now we are in recovery mode.
In the last three weeks, we went through a good chunk of our emergency fund, just upwards of $3000. Now, we are only $400 away from filling it back up. Once our emergency fund is back up to our comfort level, I will stop putting money in savings and send everything to our credit card debt.
We have been very lucky to be able to refill our EF so quickly! First, April was a three paycheck month for The Husband. Originally the bulk of that extra paycheck was slated to go towards debt, but we diverted the extra money to help refill our EF.
Second, we also had some regularly schedule deposits that totaled over $1000. (Going forward, those will all go towards our credit card debt unless we need to top off our EF due to use.) It’s super important to us to have a healthy savings account. We really believe in the Dave Ramsey method, but with all our responsibilities, we don’t think $1000 is enough, so we always want more in savings.
I also make small amounts helping with childcare at my work. I received a $100 check that went right into savings. (Once our EF is funded to our satisfaction, that extra money will become my “fun” money, but it is more important to me to have a funded EF.)
Lastly, The Daughter injured herself dancing so she is not currently practicing and hasn’t been for a few weeks. Due to that, the director of her studio paused her tuition. It was a total shock to us and we didn’t know it was happening. That was another $400 we were able to put back into our emergency fund.
I don’t anticipate much extra money coming in during the month, so I don’t think we will reach our EF goal until the end of May. Then, we will start aggressively sending money towards our debt.