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    #1

    After the 341....

    Just another question from Ms. Worrywart.

    Can I start making adjustments to my household budget and start saving money after my 341? I really want to start saving for an Emergency fund, but how soon after the meeting can I start? Do I have to wait until my discharge?
    FILED!: August 11, 2008 * Pre-Filing Fico Score - 643 * 341: October 8, 2008 * Last Day for Objections: December 7, 2008
    "Those who cannot remember the past are condemned to repeat it." -George Santayana
    Tags: None
    #2
    Hi Ms Worrywort. You can start your savings plan at any time. After all, you have to make adjustments in your budget to allow for the fluctuating fuel prices and grocery costs, right? As well as any other thing that might arise? So I would start now and tuck a little aside as you can. The few dollars you get from scrapping the washer can be a start.

    Good luck.
    "To go bravely forward is to invite a miracle."

    "Worry is the darkroom where negatives are formed."

    Comment

      #3
      Thank you Mrs. Cat! You certainly are saving my nerves today!!! lol

      So then my next question is should I put it in my savings account (AFTER the 341) or just keep it in cash in a safe place at home?
      FILED!: August 11, 2008 * Pre-Filing Fico Score - 643 * 341: October 8, 2008 * Last Day for Objections: December 7, 2008
      "Those who cannot remember the past are condemned to repeat it." -George Santayana

      Comment

        #4
        You can do either or both. We try to keep a $100.00 bill hidden in our wallets in case of emergency, though we haven't been able to do so lately. However, having a little cash on hand when we were out in the woods coming back from visiting MIL and got stuck in sugar sand. The wrecker that came to our aid would not take a check, nor a credit card. If we had not had $50.00 cash on us we would have been left stranded.
        "To go bravely forward is to invite a miracle."

        "Worry is the darkroom where negatives are formed."

        Comment

          #5
          That's an excellent idea. It's going to sound stupid, but I never thought about keeping it in a hidden compartment in a wallet.

          Thank you again!!
          FILED!: August 11, 2008 * Pre-Filing Fico Score - 643 * 341: October 8, 2008 * Last Day for Objections: December 7, 2008
          "Those who cannot remember the past are condemned to repeat it." -George Santayana

          Comment

            #6
            Now understand that this cash hidden in your wallet must be *forgotten*. Start creating your REGULAR emergency fund, and also *forget* about that. By that, I mean you can't use it to supplement some regular purchase where you run short of cash. In that case, just don't buy that item.

            The emergency fund comes in when something on the car breaks and has to be repaired, or, God forbid, someone gets sick and has to have a special medicine or something.

            The *hidden* fund is to be the absolute last resort in case you are stranded somewhere--as we were--or something else dire happens. And I hope and pray it doesn't.

            You're supposed to be looking forward to a very happy event this month! Good wishes, and God Bless to you!
            "To go bravely forward is to invite a miracle."

            "Worry is the darkroom where negatives are formed."

            Comment

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