E-Fund S.O.S.

I have been doing pretty well on my emergency fund recently.  It’s not fully funded, but it’s comfortable.  March has certainly been a test of that. 

A check up at the dentist in February turned into a three-phase follow up and my insurance covers some, but definitely not all. 

A safety recall on my car turned into a complete overhaul.  Okay, not complete, but the list of things they found wrong was immense!  It was all stuff I knew needed to be fixed and had it on my list but never got around to (my future husband and my father both just rolled their eyes).  It was convenient to just take care of it all at once while I got to drive a fun, little Jetta around for the day, but taking on the cost all at once was not fun.  At all.

A few years ago, even though I had the money, I would have put it on credit cards so I didn’t have to think about it all coming out of my account at once.  But now, instead of freaking out about these expenses, I reminded myself that this is what the emergency fund is for, transferred the money into my checking account and paid it like a big girl.

Okay, maybe I freaked out a little.  I thought about how I could pull back on my spending to pump up what I’m contributing to get the e-fund back on track, thoughts of a second job flooded my brain.

But, I took a calming breath, reminded myself, again, that’s what it’s there for, so that I don’t have to disrupt my monthly budget.  I honestly don’t remember the last time I dipped into it, so even though I had two “emergencies” this month, it doesn’t mean I’ll keep having them.

I also had a bit of a freak out when my second bride and the few bridesmaids she had in tow picked a dress that costs more than any dress, let alone a bridesmaid’s dress you’ll wear once, should and more than I had budgeted for.  However, I smiled, said, “whatever the bride wants,” and forked over the first half for the down-payment while reminding myself that that’s what the wedding fund is for and the $30 that it went over what I budgeted just means I’ll sit out a round or two at the bachelorette party.

Without these focused funds, I’d probably still have the same amount in savings, but putting it aside and labeling its purpose really helps me a lot.  And that’s what they’re there for!

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Who needs a tiara? Give me a Roth IRA.

Finding this clip was supposed to make me feel better, but I remembered it differently.  I thought she straight out googled “finance,” but she didn’t, so it didn’t.

I work in finance and sometimes I wonder how the hell that happened. Scratch that.  I work in the finance industry and I was hired because knowledge of the industry was not a key requirement.  My bosses actually find it slightly humorous, and I like to think charming, that the TV by my desk – meant to keep guests in the office informed about the markets – is more often tuned to The Today Show and Oprah.

It’s mostly frustrating to me personally tonight because of the “rollover 401(k) to Roth IRA” cloud that has been looming over my head for years!  I’ve got step one crossed off my list, but don’t know where to go from here. 

21-year-old Emjaye never really expected to be here, but 26-year-old Emjaye is glad she is. 

At 21, I talked vaguely with my dad about finance as I started my first real job, opened those damn 401(k)s and began supporting myself.  At 21, there was a big hullabaloo about transferring investment accounts into my name, but I haven’t done much with them (besides, fortunately, watch them grow). 

At 21, I thought by 26 I’d have found someone to know about finances in the way I’ve always relied on my dad to know about finances.  When I say finances, though, I mean the bigger stuff.  Day-to-day, I feel confident about budgeting and spending and saving. 

Luckily, I never got myself into huge debt expecting some prince to come along and get me out of it.  I just expected some prince to come along and help me plan a comfortable life and retirement (like my prince of a dad has with my mom).

At 26, I know it’s up to me.  And just like at work, I’ll get there.  Neither is going to be about step one, now step two anymore.  I work better when I know WHY I’m doing step one and HOW it helps me at step two, so I’m engaging myself.

I might have a little talk with Pops this weekend, but those talks usually just remind me that I’m quite capable and knowledgeable if I just give myself a break.  And that I don’t need a prince and his castle and his piles of money.  I just need a man who will treat me like a princess – maybe even one who is a little turned on by my financial savvy!