Reaching Goals

I remember receiving my Tax return last year and thinking to myself that I did not need a new TV, surfboard, or any other materialistic object. Even though it hurt hearing about other peoples purchases. The years before I had received my check from the IRS and had decided to open a Roth IRA with the return so I was used to not spending it as soon as I got. Last years check came about this time and I could have added to the Roth but I decided I needed to have some cash to sit on.

At this point I had no idea that the economy was about to go through such a severe recession. So I opened up a money market account which at the time was paying out about 4% yield which is down 2.70%. I have been putting $390.00 every paycheck which is twice a month into this money market which at the moment is serving as my emergency fund. It is also auto drafted out of my paycheck so i have no temptation to spend it.

I have set a goal of around $10,000 for my emergency fund and I am so glad right now I decided to do so. You never know what could happen and it feels good being able to see that if something where to happen with my job I would not be hurting as much as if I didn't have one in place. I am one or two paychecks away from reaching one of my first financial goals I have set out for myself and it feels really good. I will move on to my other goals I have set and start to knock them off next.

I must say that all this personal finance starts with setting goals and reaching everyday to accomplish them. It will be a great feeling when I see that money sitting there waiting for a storm to come. I have been blessed and never been through a financial storm and I hope I never will, but if I do, I will be at least somewhat prepared.