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Dave Ramsey baby step #3


Forum: Financial Planning and Budgeting

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  #1  
August 23rd, 2011, 11:48 AM
JessP's Avatar Lovin life and family
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Baby step #3 3-6 months expenses in savings.

Have you got this much in savings?
Are you working on it?

Do you know which baby step you are on?

http://www.justmommies.com/forums/f2...aby-steps.html (Dave Ramsey Baby Steps)
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  #2  
August 23rd, 2011, 01:57 PM
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Currently we are at 5.15 months saved. Hopefully by the end of the month we'll be at 5.5 months saved.
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  #3  
August 24th, 2011, 02:00 AM
ashleighgurl's Avatar Loving Wife and Mommy
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We are trying to build up our savings, but it's been really hard. We are working on it.
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  #4  
August 24th, 2011, 11:42 AM
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Baby step #3 3-6 months expenses in savings.

Have you got this much in savings? We have 6 months in savings, however my goal is a full 12 months worth of bills in savings, not 3-6.

Are you working on it? Still working on it for what our goal is, we're half way there.

Do you know which baby step you are on? I guess we're on 3, but we also contribute to retirement and college monthly, so we aren't working on one step at one time.
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  #5  
August 25th, 2011, 05:58 AM
mommy2Breana+Brandon's Avatar Platinum Supermommy
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we are trying to save and build up our savings account.
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  #6  
August 25th, 2011, 06:04 PM
Happy Song's Avatar Nicole
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I ma living completely pay check to pay check. However When I do have my emergency fund in place we have used it for certifiable emergencies and it has been our saving grace.

Instead of having just 6 months of funds we are working on six months of food. I am confident that we have that and we are building to a 12 month supply of food. Even though we cannot save cash we can save something.
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  #7  
August 25th, 2011, 06:06 PM
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Quote:
Originally Posted by Happy Song View Post
I ma living completely pay check to pay check. However When I do have my emergency fund in place we have used it for certifiable emergencies and it has been our saving grace.

Instead of having just 6 months of funds we are working on six months of food. I am confident that we have that and we are building to a 12 month supply of food. Even though we cannot save cash we can save something.
But if you put the money you spent on stocking up on food in savings, wouldn't it work out around the same? I mean you have to buy the food in order to save it. I'm not following
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  #8  
August 25th, 2011, 06:23 PM
Happy Song's Avatar Nicole
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Quote:
Originally Posted by Mommie2One View Post
But if you put the money you spent on stocking up on food in savings, wouldn't it work out around the same? I mean you have to buy the food in order to save it. I'm not following
I get food stamps and WIC, instead of eating high on the hog we are storing food because when my husband does get a job the $700 we get for food stamps will go away and they $700 cash he will earn we will need to go toward our obligations, not our food budget.

In addition we also store water, which cost us nothing. But has been our saving grace more than once.
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  #9  
August 25th, 2011, 07:47 PM
JessP's Avatar Lovin life and family
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We are still on steps 1 and 2 . We hope to start building this while doing 2 at the end of Sept when we accomplish 1. 1 is $1000 in savings and we only have half that right now.
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  #10  
August 26th, 2011, 06:31 PM
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We're still on step 2. Things are just too tight to begin considering step 3.
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