Emergency Fund!!!!

iVillage Member
Registered: 03-20-2004
Emergency Fund!!!!
3
Thu, 10-28-2004 - 1:18pm
Ok...well sort of. I got paid today. It's the last paycheck of the month for my full time job, and payday for my weekend job is tomorrow (3 paycheck month!!!). I have over $3,000 in my checking account, not counting tomorrow's little paycheck (around 400$ I think). All my bills for the month are paid. This is the first time really I've noticed that I'm actually saving money.

My plan is working. By March I should have enough to make a huge down payment on my car insurance. I'm hoping to put down at least 5500$. My new (lower)premium should be around 7500$, so my bi-monthly payments will be manageable, instead of a whopping 980$ every other month.

If all goes as planned I'll have all my CC debt paid off by July. This is assuming that I encounter no financial emergencies. If I do my plan may be derailed slightly, but I'll have some money put away, and I should be able to handle it.....

iVillage Member
Registered: 09-21-2004
Thu, 10-28-2004 - 5:10pm
Wow just wanted say congratulations! Keep up the great work. I bet it feels like a major accomplishment.
iVillage Member
Registered: 05-02-2004
Fri, 10-29-2004 - 9:45am
I haven't been on the board very long, so I might have missed some of your story, but I have to ask...why is your car insurance so high??? My husband works in the billing department of an insurance company, and he said he's never seen a premium that high. I'm just wondering if you might be able to find a better deal with a different company? Congratulations on getting a handle on everything!

Angie

iVillage Member
Registered: 03-20-2004
Fri, 10-29-2004 - 11:56am
It's a combination of bad luck and bad driving, plus I live in Jersey.

I'm only 23, so part of it is because I'm under 25. When I was younger I used to drive like a maniac. I had a couple speeding tickets. One at fault accident. Two not at fault accidents. I have a leased car so I need the highest coverage. My current permium is just shy of 8500$ for a year. I have to get NJ high risk insurance (NJPAIP) I can't "shop" for insurance yet, not until I lose about 10 more insurance points. If I had a perfect record it would be around 3000$ a year. It kinda stinks.

Hopefully as my debt decreases, so will my insurance premium....I loose 4 points off my licence in December!!!!