I haven’t been as intense as I should be on BS3... I have been here for over a year and still don’t have a full FFEF. Lots of reasons, but I AM saving, and I am never going back into debt! My FFEF goal is 17,500, which would be 6 months of bare bones expenses. I want to reach 3 months, or 8,750 by the end of this year.
However, I hit a milestone this week: I have just over $5000 in my EF savings account! Whoo-hoo! And looking at my budget I have a total of over $10,000 in my “short term” savings category (which is my EF plus my sinking funds - travel, gifts/Christmas, and big purchases.) realizing that in a true emergency I could draw on the sinking funds to get by gives me such a feeling of security! I also have an investment account for down payment savings that could in a worst case scenario be liquidated- it’s just over $11k right now! So I guess I actually do have 6+months available to me, even if I haven’t named it my EF.
I do still plan to build up the FFEF account to $17,500, because I know I need $ named just for emergencies, but realizing I have lots of options Even while I am getting there gives me a ton of peace.