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Thursday, April 17, 2008

FPU Status Update: Emergency Fund Restored

I just transfered money to our Baby Step 1 Emergency Fund savings account. We're back on track since this set back on March 24th.

My wife and I have decided to build up the baby step 1 fund a little bit more. We are going to split the extra payments we've budgeted for our debt snowball in half until the emergency fund has another $750 to $1,000 in it. Yes this will slow down the debt snowball but its so minimal compared to the extra security. Anyways, I think we will be using some of the extra funding for some bills that have come up. One big expense for sure is a pair of glasses for my oldest son.

By the way, it's his birthday today, he's eleven. Glasses - what a great birthday present.

Happy Birthday Bud!!!

He'll be so happy to hear about his present don't ya think? It is all in how I sell it to him "Josh, for your birthday, how'd you like to get your sight back?"

6 comments:

Katie R. said...

I'd have been all over that as an 11-yr.old. For sure!

Katie R. said...

I just saw an ad. for the Mvelopes.com system on your blog. Have you looked into that? We are looking for something that electronically works like the actual paper envelope system. I use Quicken right now but only as a glorified checkbook balancer. Doesn't help with planning nor staying within a budget.

I know there are ways to keep track of your budget w/ Quicken but it's not practically something I would do for the long haul. The Mvelopes system appeared to be what I am looking for. Just wondering your thoughts on that, if you have any regarding that system.

Thank you, Mr.Stream.

Pat Stream said...

I've been using Mvelopes for about three years. Yes, it is literally a virtual envelope system and it ties directly into your back accounts. Mvelopes is a tad pricey at $13 per month. But I think the value is definitely there.

There is another desktop based system that I know a few other people use. It is called
Budget Windows
. It resides on your desktop and I am not sure how it ties into the bank but I am impressed with the trial version so far.

Katie R. said...

Thank you. I will pass the info. on to Matthew.

Jason said...

I have been looking forward to your review of the "Great Misunderstanding" class.

Hope all is well

Pat Stream said...

Thanks for touching base Jason. Our last class was postponed to this coming Monday.

I am well. I've been busy at work.