Savings on track...other items
After listening to Dave Ramsey's Total Money Makeover on my ipod recently, I see the logic in having at least $1,000 in savings when starting a debt reduction plan or "snowball" as he calls it.
I was always a big fan of emergency savings but realizing how this could throw my get-out-of-debt plans could be throw off track by unexpected expenses has convinced me.
I also feel that I must have $1,000 minimum because with my new car insurance I chose $1,000 deductibles. That means, I have to come up with that if anything happens -- in cash or else resort to putting it on a newly paid down credit card. No way!
So, while I am putting back my original amounts ($625 before moving and car purchase expenses infringed on it) I am going to go ahead an beef it up to $1,000 ASAP.