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Old 10-15-2012, 03:34 PM   #9
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Join Date: May 2011
Location: Naples, Italy
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Originally Posted by ChelseaGirl7

Woot! Every little bit helps!

Denelle- Hope you can get things figured out so you can get back sewing again!

Afm- we are on track to be caught up with all the bills by the end of the month!

I am wondering what you all think, we don't have a bef yet since we aren't caught up. We will be starting it next month I'm sure. The thing is, our 2 debts we should be able to pay off within 4 months, and paying minimum payments only they will both be paid off by April (car loan, 6 months left). The other one is asn old business contract that will be paid off in dec. I am seriously thinking about only doing a 500 bef, then paying off the car payment by february. Then doing the ffef. I kind of feel like I can "justify" this because we have lived off of a 20k income most of this year(and didn't fall behind until we had no income), although dh is currently going to make around 32k I think (maybe more, depends on hours). I'm just thinking we should be able to squeak by for 2 months, and we might even be able to slowly add after the first debt is paid off. Any thoughts?

Chelsea mom of 4, from my phone
We did this. However, my husband is in the military, so there is almost zero chance something would come up that our $500 BEF wouldn't be able to cover. We have no medical costs, we have a second vehicle if something happened to one, and in the event of a death/family emergency, only the person being affected would go. We also planned on paying off our two small debts first, then beefing the BEF to $1k-$2k, then focus on the two larger debts. I do think dr recommend only $500 BEF if your income is low or if it will take you longer than 90 days to save up your BEF.

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