As I have shared in my previous debt-free living posts, we are following Dave Ramsey's steps to getting out of debt. Since we are nearly caught up on our current bills, I'm finding ways to start building our $1000 Emergency Fund. I opened this account at a bank that is not attached to our checking. We are $895 away from our goal.
This week the steps I've taken to continue building our Emergency Fund:
1. I listed many items on Ebay. Most of these items are popular homeschool materials, so I'm confident they will sell.
2. I listed items in my Etsy Shop. I am also offering a 10% Off code to boost sales. My e-book Mama Don't Sew is my most popular and lowest priced item.
3. I plan to deposit the difference between October's electricity bill and this November's into the account. October's bill was $117.57. November's bill is $107.20. Therefore I'm going to deposit $10.37 into our Emergency Fund. I came up with this idea at the top of my head to continue with the momentum of saving money. Plus, creativity keeps me going!
4. Any profit from items I sell through our local Swap & Sell site I plan to deposit into our Emergency Fund.
5. Money from our change jar will be cashed and deposited on a monthly basis.
So those are the steps I'm currently taking to build our Emergency Fund! After this, we'll begin taking more chunks out of our debt.