Groundhog Day – The Ode to the Emergency Fund

Dug my grave again. Did that over the length of a few months – slightly over a year. I thought I could control it, but somehow the lull of easy money has sung a song so sweet that I have allowed myself to sign on the dotted line, letting tomorrow take care of itself.

Credit is the death of me. Why is it that I keep doing things that I know I should have never done? Is regret even enough of a painful feeling to stop me from doing this yet again? The Edu loan I took was ok, but the credit card that I had.. man, at first, it was sweet. Now its just a big ass nightmare.

Had a big headache last night. It was more of stress related head pain where the sides of my forehead felt as if something was squeezing them. All due to the state I find myself in. Come to think about it, all of the stress that I have felt over the years in one shape or another has the same root cause – Money. Lack of planning, which leads to a lack of reserves, which then lead to going to the bank to make a deal with the devil. Regret is a pointless emotion to feel once the deed has already been done.

So, what do you do now? Pay it off, slowly. I’ll need to build me a micro emergency fund of $1000. I’ll do whatever I need to do to get that done. Next, pay off my credit card as quickly as possible. After that, pay off the Edu loan, which is kinda small compared to the credit card. Once all that is cleared, then I will build a mini Emergency fund of $5,000 to $10,000. A fully funded emergency fund is $20,000.. but that is still a long way from where I am at. Got to build up my savings ASAP. Living paycheck to paycheck is a stressful way to live, especially when the majority of your roles in the industry you are in are contract roles, where they can fire you in a moments notice, hence the need for the Emergency fund.

I’m a debt slave.. hear me complain about sucky jobs all day long, all while rattling the chains that I so gladly wear not so long ago. Now, I’ve got my plan.. just got to follow through with it. It may take the rest of the year or longer, but its better then where I am currently at. Go build your emergency funds, friend, so you may not share the same fate as mine. Hell, just the value of the avoided stress alone makes the Emergency Fund 4 times the value of the money you have in it. Got to heed the advise of my parents, who have walked this road a million times before, and build your savings and be debt free.

Can I pass this mission? I’ve plotted a rough way-point going to the desired destination. Now, it’s all a matter of execution.. so this is where I stop typing, and start getting to work.

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