≡ Menu

Create Your Own Anti-Emergency Fund

Do unexpected car repairs, quarterly insurance payments or those darned property taxes find you hard pressed to squeeze one more dollar out of an already stretched monthly budget? Or do you usually end up reaching for the plastic in your wallet to make up the difference? Those inevitable expenses can put less stress on your bank balance — and your mind — if you learn to expect them and save in advance.

Too often, irregular occurring expenses get left out of our financial equation. Our income stretches to cover the regular monthly expenses and the remainder trickles away toward little things like the morning espresso or lunches out or a dozen other daily splurges. We choose not to think about the brakes that are getting spongy or the plumbing that’s beginning to make strange noises. And we end up riding a financial roller coaster, never knowing when the next crisis will throw us for a loop.

Planning and saving for those events can help prevent an ordinary life from turning into a crisis and can also cut down dependence on credit cards. Not having savings is a major reason people get into debt — event when they don’t have problems controlling their spending.

An Anti-Emergency Fund© is the way to anticipate and save for those irregular events that are anything but unexpected. The Anti-Emergency Fund© is the foundation of the three-part savings plan we’ll be discussing in coming issues of Financial Fitness. With a little advanced planning, a broken water heater, a high winter heating bill or the family vacation don’t have to result in financial emergencies. An Anti- Emergency account helps in saving for those variable expenses, both expected and unexpected, that inevitably occur.

Some people call this their “emergency fund,” but it’s really a savings fund that helps you prevent financial disasters. No, you can’t predict when your car is going to break down, but you can predict that it will occasionally need maintenance and repairs and set aside a little money in advance for those events.

Here are some steps to help you get started on your Anti-Emergency Fund©:

Identify your irregular expenses. Take an inventory of those variable expenses that occur throughout the year. Looking back at checking account registers and credit card statements can help you do this. Some examples of these include property taxes, insurance premiums, vacations, car tune-ups, holidays and birthdays. List as many of your non-monthly expenses as you can remember.

Write the anticipated amounts on the calendar. In many cases, you will know when the expenses are due to occur. In others, you won’t. But you know that sooner or later a car will have problems or an appliance will break down. Try to anticipate these expenses and list them somewhat earlier than you actually expect them to come up. Be sure to update your calendar as you discover more expenses.

Include money in your monthly spending plan for non-monthly expenses. If your car insurance, for example, is due in May, set aside a small portion each month starting in February. That way, when May rolls around you can transfer the expense to your spending plan and have money available to pay it. Setting aside even a few dollars each month for foreseeable expenses can make it easier to manage your money throughout the year.

You may think you don’t have any “extra” money during the month to set aside, but repairing your car or paying your insurance are not optional expenses. By setting aside small amounts ahead of time, you’re avoiding larger money woes ahead. So you may need to find ways to reduce your regular monthly spending. By tracking your expenses, you may discover areas where you can trim your monthly spending with only small sacrifices. Costs of twice-weekly trips to the drive through or a professional manicure can add up quickly over a month. The important thing is to start today. It may be discouraging at first if you find that you don’t have enough money to fully fund your Anti- Emergency Fund©, but you’ll begin to succeed the minute you start the process. Small amounts of savings add up quickly and start compounding immediately!

One of the mistakes people make when trying to get their finances under control is not having a savings account. They may reason that it’s better to put money toward reducing credit card debt at 18 percent interest than to toss it into a low-interest regular savings account. The problem is that if you don’t have money set aside for those unavoidable bills, you inevitably end up adding to your credit card balance to cover the difference.

Stabilizing your debt means agreeing not to incur new charges and to begin paying down what you owe. A savings account is a key element in making that happen — and in improving your financial fitness!

About the Author

Cindy S. Morus (cmorus@phelps-creek.com)
Certified Financial Recovery Counselor
Phelps Creek Financial Coaching
541-387-2995 (business and fax)

Visit www.phelps-creek.com to learn how you can improve your Financial Fitness!

Sign up for your free copy of “Financial Fitness” newsletter at www.phelps-creek.com. This month’s article is “Build your own Safety Net“.

“If you could kick the person in the pants responsible for most of your trouble, you wouldn’t sit for a month.”

{ 49 comments… add one }

  • minecraft October 4, 2018, 4:44 pm

    Hello there! Would you mind if I share your blog with my twitter group?

    There’s a lot of people that I think would really enjoy your content.
    Please let me know. Cheers

  • minecraft October 5, 2018, 9:01 pm

    Hey there fantastic website! Does running a blog similar to this require a lot of work?

    I have virtually no understanding of programming however
    I was hoping to start my own blog soon. Anyhow, if you have any ideas or techniques for new blog owners please share.

    I know this is off topic however I just had to ask.
    Many thanks!

  • minecraft October 6, 2018, 3:39 am

    What i don’t realize is in fact how you are no longer
    actually a lot more well-liked than you might be right now.
    You are so intelligent. You recognize thus considerably relating
    to this topic, made me in my view consider it from so many numerous
    angles. Its like women and men don’t seem to be fascinated until it
    is something to do with Girl gaga! Your individual stuffs great.
    Always care for it up!

  • minecraft October 7, 2018, 12:30 am

    It’s nearly impossible to find experienced people about this subject,
    but you seem like you know what you’re talking
    about! Thanks

  • minecraft October 7, 2018, 1:01 pm

    This is the right site for everyone who hopes to find out about this topic.
    You understand a whole lot its almost tough to argue with you (not that I personally
    would want to…HaHa). You certainly put a new spin on a subject that’s been written about for
    a long time. Excellent stuff, just wonderful!

  • minecraft October 7, 2018, 6:48 pm

    Unquestionably believe that which you stated. Your favorite reason appeared to be on the net the easiest thing to be aware of.
    I say to you, I definitely get annoyed while people think about worries that
    they just do not know about. You managed to hit the nail upon the top as well as defined out the whole
    thing without having side effect , people can take a signal.
    Will likely be back to get more. Thanks

  • minecraft October 7, 2018, 8:06 pm

    This paragraph is really a fastidious one it assists new
    web visitors, who are wishing for blogging.

  • minecraft October 7, 2018, 9:19 pm

    It’s wonderful that you are getting thoughts from this
    paragraph as well as from our argument made at this
    time.

  • minecraft free download 2018 October 8, 2018, 3:03 pm

    Howdy! I could have sworn I’ve visited your blog before but after browsing through a few of
    the posts I realized it’s new to me. Regardless, I’m definitely delighted I discovered it and I’ll be bookmarking it and checking back frequently!

  • minecraft free download 2018 October 8, 2018, 4:20 pm

    This design is wicked! You definitely know how to keep a reader entertained.

    Between your wit and your videos, I was almost moved to start my own blog (well, almost…HaHa!) Fantastic job.
    I really loved what you had to say, and more than that, how
    you presented it. Too cool!

  • minecraft free download 2018 October 8, 2018, 7:10 pm

    Appreciating the persistence you put into your blog and
    detailed information you provide. It’s awesome to come across a blog every once
    in a while that isn’t the same out of date rehashed material.
    Fantastic read! I’ve bookmarked your site and I’m including your RSS
    feeds to my Google account.

  • minecraft free download 2018 October 8, 2018, 11:16 pm

    bookmarked!!, I really like your site!

  • minecraft free download 2018 October 9, 2018, 8:49 pm

    It’s an remarkable article for all the internet visitors;
    they will take advantage from it I am sure.

  • minecraft free download 2018 October 10, 2018, 1:12 am

    I was wondering if you ever considered changing the
    layout of your website? Its very well written; I love
    what youve got to say. But maybe you could a little more in the way of content so people could
    connect with it better. Youve got an awful lot of text for only
    having 1 or two images. Maybe you could space it out better?

  • minecraft free download 2018 October 10, 2018, 4:38 am

    Its like you read my mind! You appear to know a
    lot about this, like you wrote the book in it or something.
    I think that you can do with some pics to drive the message home a bit, but instead
    of that, this is excellent blog. An excellent read. I’ll certainly
    be back.

  • minecraft free download 2018 October 10, 2018, 6:45 am

    Hmm it seems like your blog ate my first comment (it was super
    long) so I guess I’ll just sum it up what
    I had written and say, I’m thoroughly enjoying your blog.
    I as well am an aspiring blog writer but I’m still new to the whole thing.

    Do you have any suggestions for first-time blog writers?
    I’d really appreciate it.

  • Coconut Oil October 22, 2018, 10:53 pm

    Thanks for sharing such a fastidious thought, paragraph is pleasant, thats why i have read it fully

  • Coconut Oil Benefits October 24, 2018, 10:30 am

    Thanks for sharing your thoughts on Health Benefits of Coconut
    Oil. Regards

  • Coconut Oil Benefits October 24, 2018, 10:31 pm

    If you desire to obtain much from this post then you have to
    apply such strategies to your won web site.

  • Coconut Oil Benefits October 27, 2018, 6:59 pm

    I’m excited to find this great site. I wanted to thank you
    for your time just for this wonderful read!! I definitely enjoyed every
    part of it and i also have you bookmarked to look at new stuff in your website.

  • Coconut Oil Benefits October 28, 2018, 7:06 am

    Wonderful beat ! I wish to apprentice while you amend your website, how could i subscribe for a
    blog site? The account aided me a acceptable deal. I had been a little
    bit acquainted of this your broadcast offered bright clear concept

  • Coconut Oil Benefits October 29, 2018, 3:23 pm

    I like what you guys are up too. This kind of clever work and coverage!
    Keep up the terrific works guys I’ve added you guys to my blogroll.

  • Benefits of Coconut Oil October 30, 2018, 8:52 am

    What’s up Dear, are you really visiting this website daily, if so afterward you will absolutely get pleasant knowledge.

  • quest bars cheap November 3, 2018, 3:45 pm

    Hello! Would you mind if I share your blog with my myspace group?
    There’s a lot of folks that I think would really enjoy your content.
    Please let me know. Thanks

  • quest bars cheap November 4, 2018, 7:00 am

    Good day! Do you know if they make any plugins to help with Search
    Engine Optimization? I’m trying to get my blog to
    rank for some targeted keywords but I’m not seeing
    very good success. If you know of any please share.
    Many thanks!

  • quest bars cheap November 5, 2018, 4:54 am

    Quest bars cheap fitnesstipsnew1 quest bars cheap 516999410492780544 quest
    bars cheap
    Very good information. Lucky me I recently found your website by chance (stumbleupon).
    I’ve bookmarked it for later! Quest bars cheap fitnesstipsnew1 quest bars cheap
    516999410492780544 quest bars cheap

  • Quest Protein Bars November 6, 2018, 12:04 pm

    Wow, this article is pleasant, my sister is analyzing these
    kinds of things, therefore I am going to tell her.

  • Quest Bars Cheap November 9, 2018, 2:27 am

    I’m not that much of a internet reader to be honest
    but your sites really nice, keep it up! I’ll go ahead and bookmark
    your website to come back later. Cheers

  • Quest Bars November 9, 2018, 12:45 pm

    Do you have a spam issue on this site; I also am a blogger,
    and I was wondering your situation; we have developed some nice procedures and we are looking to exchange strategies with other folks, be sure to
    shoot me an email if interested.

  • What Equipment is Needed for Sling TV November 10, 2018, 3:27 am

    I have read so many content on the topic of the blogger lovers
    but this article is really a good paragraph, keep it up.

  • Sling TV November 10, 2018, 3:47 pm

    Good day! This post could not be written any better! Reading this post
    reminds me of my old room mate! He always kept chatting
    about this. I will forward this write-up to him.
    Pretty sure he will have a good read. Many thanks for sharing!

  • Sling TV November 11, 2018, 10:00 pm

    Unquestionably believe that which you said. Your favourite reason appeared to be on the internet the simplest thing
    to take note of. I say to you, I definitely get annoyed even as other people think
    about issues that they plainly do not understand about. You controlled to hit
    the nail upon the top and also outlined out the entire thing without having side effect , other people can take a signal.
    Will probably be again to get more. Thanks

  • Sling TV November 12, 2018, 5:50 am

    Really no matter if someone doesn’t be aware of afterward its
    up to other people that they will help, so here it occurs.

  • What Equipment is Needed for Sling TV November 12, 2018, 3:13 pm

    Pretty! This has been a really wonderful article. Thanks for supplying these details.

  • What Equipment is Needed for Sling TV November 14, 2018, 2:05 am

    Good article! We are linking to this great post on our website.

    Keep up the good writing.

  • Sling TV November 14, 2018, 9:59 pm

    You’re so interesting! I don’t believe I have read through something like
    that before. So great to discover somebody with a few original thoughts on this topic.
    Seriously.. thank you for starting this up.
    This website is one thing that is required on the internet, someone with a little originality!

  • Sling TV November 15, 2018, 3:36 pm

    Great web site. Lots of helpful information here. I’m sending it to several pals ans additionally sharing in delicious.
    And obviously, thanks on your effort!

  • Sling TV November 15, 2018, 7:33 pm

    I know this web site provides quality based articles
    and additional data, is there any other web site which provides such things in quality?

  • What Equipment is Needed for Sling TV November 16, 2018, 6:57 pm

    I do not know if it’s just me or if everyone else encountering problems with your blog.
    It seems like some of the written text within your content are running off
    the screen. Can somebody else please provide feedback and
    let me know if this is happening to them as well? This may
    be a problem with my browser because I’ve had this happen before.
    Thanks

  • What Equipment is Needed for Sling TV November 17, 2018, 2:52 pm

    I do not know if it’s just me or if everybody else
    experiencing issues with your website. It appears like
    some of the text in your posts are running off the screen. Can someone else please comment
    and let me know if this is happening to them as well?
    This might be a problem with my browser because I’ve
    had this happen before. Thank you

  • Sling tv coupons and promo codes for november 2018
    Hi to all, how is everything, I think every one is getting more from this web site,
    and your views are fastidious in favor of new users.

    Sling tv coupons and promo codes for november 2018

  • What Equipment is Needed for Sling TV November 17, 2018, 6:08 pm

    Write more, thats all I have to say. Literally, it seems as though you
    relied on the video to make your point. You clearly know
    what youre talking about, why waste your intelligence on just posting videos to your site when you could
    be giving us something informative to read?

  • What Equipment is Needed for Sling TV November 18, 2018, 5:56 pm

    Hi there! This post could not be written any better! Reading this post reminds me of
    my previous room mate! He always kept talking about this.
    I will forward this article to him. Fairly certain he
    will have a good read. Thanks for sharing!

  • What Equipment is Needed for Sling TV November 19, 2018, 2:01 am

    Ahaa, its fastidious discussion on the topic of this article here at this blog, I have read all that, so now me also commenting
    at this place.

  • What Equipment is Needed for Sling TV November 19, 2018, 3:57 am

    I have been browsing online more than three hours nowadays, yet I
    never found any interesting article like yours. It is pretty value sufficient for me.
    Personally, if all site owners and bloggers made excellent content as you did, the internet will probably be much more helpful than ever before.

  • What Equipment is Needed for Sling TV November 20, 2018, 3:59 pm

    I enjoy reading an article that can make people think.
    Also, thanks for permitting me to comment!

  • descargar facebook November 22, 2018, 4:22 pm

    Hi there, i read your blog occasionally and i own a similar one and i was just wondering if you get a lot
    of spam comments? If so how do you stop it, any plugin or
    anything you can advise? I get so much lately it’s driving me crazy so any assistance is very much appreciated.

  • descargar facebook December 6, 2018, 8:15 am

    I couldn’t resist commenting. Perfectly written!

  • descargar facebook December 6, 2018, 8:54 pm

    Hello, i think that i saw you visited my site thus i came to “return the favor”.I’m trying
    to find things to improve my site!I suppose its ok to use a few of your ideas!!

Leave a Comment