Emergency funds

Most of our married lives, Cliff and I have lived paycheck to paycheck. Once our children left home, we noticed we had considerably more spending money. Cliff had a good job that he loved, at R.B. Rice Sausage. We went on a charge-it spree that was amazing, when I look back. I really don't know what we charged, other than a pickup; I only know we had lots of payments.

We've always maintained good credit, even through hard times. I'm a fanatic about paying the bills before they're due. I had no problem keeping up with our debt.

Until R.B. Rice closed up shop in Lee's Summit.

Cliff went through a series of jobs after that, mostly construction. The money just wasn't coming in the way it used to. I don't even know how we managed to pay the bills, but somehow we did. I babysat some. At one point we got a second mortgage and combined all our bills into one lower-interest payment, thanks to the kindest banker I've ever known. (Rest in peace, Larry Wims.)

Sixteen years ago, Cliff went to classes and got his G.E.D., and then he got the job he still holds. It's a great job: it pays well and has wonderful benefits.

But when he started there, the pay wasn't so good. It took a long time for him to climb the ladder, bid on a better position, and get to the top. So in the beginning we were still barely making it from paycheck to paycheck.

I don't drive, so I haven't always been able to hold down a job; having a job required me to find somebody willing to let me ride with them (for a fee, of course); in the boonies, that isn't always easy. So Cliff has spent much of his life being the sole breadwinner. He did without a lot of things because there just wasn't any extra money, and he never complained.

There were tools he'd like to have had, and tractors and other "man-toys". Unfortunately, his list of "wants" had always fallen to the bottom of the list. After a year or two on his new job (and several generous raises), I saw that it was possible to have some money from his pay put aside into a credit union; and I suggested he fill out a form to save $15 weekly in a fund that would be his, to do with as he pleased.

He bought an air compressor once, and then a power washer, out of that fund. There were times we had to hit the fund for unexpected expenses. But I tried my best to leave it for Cliff, and Cliff alone.

Nowadays the only monthly payment we have is on our home (and of course utilities). We seem to find the funds available for what we need or want. Cliff's "mad money" sits untouched in the credit union, and $15 weekly still goes into it.

I've seen lots of people blogging about Dave Ramsey; it seems one thing he emphasizes is that every family should have $1,000 set aside for emergencies.

Guess what?

We've hit that $1,000 at the credit union. We did it $15 at a time, without even thinking about it, without any intention of rat-holing it. We have a couple other savings accounts; but there's just something nifty about the way that one grew like magic, without our even realizing the money was gone from Cliff's paycheck. Now that he doesn't need his "mad money", I think I'll just leave that fund alone. It's rather comforting, knowing it's there, still growing... by accident, you could say.