Are You Ready for a BIG Emergency?

Are you ready for a big emergency?  Do you have the required 6 to 12 months’ emergency fund?

I can hear your groan now.  Who has enough extra money to put aside 6 to 12 months in the bank?  If you have expenses of $3,000 a month, an ample emergency fund of 6 to 12 months would be $18,000 to $36,000.  Definitely not small change.

An emergency fund is hard to build, and that may be part of the reason why many people never even try.

Big Emergency

Original image credit: https://flic.kr/p/7KLtYi

But there will be an emergency that will occur sometime in your life.  You will need that money.

Financial Death by a Thousand Nicks

We relocated to Arizona 10 months ago.   Doing so drained our meager emergency fund.  For a few months, we were doing pretty good and getting back on our feet until we started facing endless financial nicks—braces for our son, $2,000 in medical and dental expenses, $1,500 in car repairs, etc.  The last five months have been financially very difficult.

If we would have had a 6 to 12 month emergency fund, our job now would be to rebuild the emergency fund, not do constant damage control.  I think it will be a few more months until we are financially in the clear, assuming no other major expenses come up.  Meanwhile, we feel extremely vulnerable financially.

The Big Emergency Worst Case Scenario

However, our current financial difficulties are nothing compared to what others face.  My daughters’ therapist is living a financial nightmare.  Her husband had a stroke and now has locked in syndrome, which means he has his full mental faculties, but he can’t move his body.  He is no older than 40.  No one would expect this to happen.

The therapist’s life now is driving to see her husband and advocate for him as well as juggling the finances of losing one income as well as the rapidly mounting medical expenses.  She does work but has had to take frequent days off.  Even with a Go Fund Me page that brought her nearly $50,000 in donations, I have no idea how she is handling the expenses.

Of course, this is a worst case scenario, but still, an emergency fund to liquidate in this situation would be nice.

Take Baby Steps to Reach Your Goal

Right now, my husband and I are struggling to stay out of debt.  So far we’ve succeeded, but we’re right on the edge.  Still, our plan is to put a small amount away in our emergency fund, say $50 a month.  Something is always better than nothing.

In the next few months, we’ll amp that amount up to a couple of hundred a month and keep increasing as we are able.  We won’t have a sizeable emergency fund anytime soon, but we will have some money put aside.

Too often, it’s easy to look at your finances when everything is going right and say to yourself, “We’re doing alright.  I can afford to splurge.”

But that’s short-sighted thinking.  Look at your finances and ask yourself how would you be financially if you had several smaller emergencies of a few hundred or thousand dollars or if the worst case scenario happened?

My advice is to wait to splurge until you have that emergency fund.  Trust me, one day you’ll be glad.

Do you have a 6 to 12 month emergency fund, or do you find it too difficult to achieve?

Stretching Your Produce Budget Further

Anyone who has made a simple budget has struggled with making their food budget fit with the rest of the budget.  If you attempt to eat healthy, one of the biggest components to a food budget is the produce.  Stretching your produce budget can be somewhat difficult.  Growing seasons are short, and the cost of produce keeps going up.  But, there are a few things we can do to stretch that produce budget, and make it a bit easier on your overall budget.

  1. Stretching your produce budgetStock Up on Sale: buying your produce on sale allows for you to stock up when the item is cheaper, then store it until you need it.   Canned produce is really easy to store.  Frozen only requires a freezer.  And if it’s the fresh stuff, there’s a few things you can do to store a surplus when you do pick it up in season and on sale.
  2. Canning for stockpiling: When you’ve got a surplus of produce, one of the best things you can do is can it to preserve it for another day’s use.  Canning only requires a few pieces of equipment, and a little time learning the process, then you can be off to the races filling your pantry shelves with preserved fresh produce to use later in the year when produce is much more expensive.
  3. Freeze it: Every year, around the end of summer, corn pops up in the backs of pickup trucks and in the farmers markets.  Compared to the rest of the year, it’s really cheap, and it tastes so good!  Unless we want to eat nothing but fresh corn, though, the season is fleeting, and we’re left with no other corn but the commercially canned or frozen corn you can get at the supermarket.  It’s just not the same.  Last year, we bought a whole bunch of corn (4-5 dozen), shucked them all, then cut the kernels off and combined them in a huge stockpot with some butter, a little bit of salt, and a little bit of water, and then cooked it for a little while.  Once it was done, we let it cool off, and then filled quart size freezer bags with the corn and froze it.  Now, if we want a little taste of that sweet summer corn, we just grab a bag, heat it backup and eat.  We did similar things with pumpkin, squash, zucchini, and a whole bunch of other summer fruits and veggies.  All it takes is a little bit of prep time and the freezer room to enjoy the flavor of fresh produce all year round.
  4. Grow it: If you already grow a garden every year, this might seem like a no-brainer of a tip.  But, growing your own garden can be an excellent way to stretch your produce budget out.  Last year, we enjoyed an abundance of tomatoes, potatoes, carrots, onions, jalepenos, cucumbers, and even an eggplant or two from our tiny container garden.  This year, we’re planning on consolidating down to a smaller selection in hopes that we’ll have some extras that we can can as well.
  5. Find a Farmer’s Market: Buying your produce from a local farmer can often be just as cheap as buying at the supermarket.  In some cases, if you order ahead, you can get a deal on bulk orders of produce which is great if you are planning on canning any of it.  It’s also fresher since it only had to make the trip from the farm down the road instead of the farm across the country.  It’s not always a great way to stretch the produce budget, but if you want high-quality produce that will last longer before spoiling, it’s a good place to check out.
  6. Pick it Yourself: A reader on twitter commented that I’d forgotten to add the u-pick farms.  I hadn’t really forgotten them, as they just don’t exist in my neck of the woods and the cost to drive to the nearest one would negate the savings.  But, if you have a u-pick farm nearby, it’s an excellent way to get out of the house, pick a ton of fresh produce (fruits usually) and save a pretty big chunk of change.  Many of the farms only charge about 1/3 of the cost at the grocery store!

Extending your produce budget is important, not just when there are droughts, but as a way to provide healthy options for you and your family to eat year round.

What do you do to stretch your produce budget?

Earn Rewards with Swagbucks

It’s been a while since I last wrote about Swagbucks.  A little over a year to be exact.  And almost 3 years before that.  I’ve been using Swagbucks for a long time, I guess.  What is Swagbucks?

Swagbucks is a rewards program.  You earn rewards called Swagbucks for doing a variety of activities.  What sort of activities?  Glad you asked.

Swagbucks Search

Earn SwagbucksThis is probably the easiest way to earn Swagbucks.  You can install the Swagbucks add on for your browser and set the Swagbucks search as your default search so that when you search in the location bar it directs you through their search engine.  When you use their search, you can randomly win Swagbucks.  It’s not every search, but depending on your search volume, you might win about once a day.  Your winnings will vary, but they can range from lower amounts like 5 Swagbucks all the way up to 20-50.  The search feature is powered by Yahoo search.

Swagbucks Polls and Surveys

This is probably the second easiest way to earn Swagbucks through the program.  You log into the site and take a poll.  The payout is usually something like 2 Swagbucks for each poll you take and the polls are usually pretty short.  You can also take surveys which tend to be a little longer, but the payout, which varies, is usually a bit better as well.

Swagbucks Coupons

Swagbucks has a relationship with Coupons.com that allows for you to sign into their site and print off coupons.  Because of that relationship, there’s always a pretty good selection of coupons on stuff you’ll use all the time.  For each coupon that you redeem, you earn 10 points.

Swagbucks Shopping

Like most rewards programs, Swagbucks has agreements with all kinds of online retailers where you can click through a link on the Swagbucks site and then earn points based on the money you spend at the retailer.  For example, their homepage is showing 4 Swagbucks for every dollar spend at Walmart.com right now.

Swagbucks Daily Crave

This is a newer way (to me at least) to earn Swagbucks.  There’s a link on the sidebar of the Swagbucks site that leads you to a new page that shows you some videos.  You earn a Swagbuck for watching a few of them.  Pretty easy to use and easy to earn a few Swagbucks each day.

Swagbucks Play

With the play feature, you can play online games for Swagbucks.  The amount you can win varies depending on the game, but certainly a great way to have a little fun and earn some Swagbucks easily.

It’s pretty easy to earn Swagbucks and work towards rewards.  Do a few of these tasks each day and the Swagbucks will add up pretty quickly.  And trading the Swagbucks in for your rewards is pretty easily too.

There’s two ways to redeem your Swagbucks.

Rewards

This is my favorite way to redeem Swagbucks.  For me, the thing I redeem them for the most is the $5 Amazon gift card.  It’s only 500 Swagbucks.  There’s a whole bunch of different places that you can get gift cards from, and you’re sure to find at least one or two that you’ll want to have.

Swagstakes

While it’s never a sure thing, Swagstakes can be a fun way to redeem your Swagbucks.  Obviously, Swagstakes is a play on Sweepstakes.  You redeem your Swagbucks for entries into a Swagstakes with the hope that you’ll win something worth way more than your Swagbucks are worth.  The entry “cost” varies by the Swagstakes, but most are less than 20 Swagbucks per entry.  I don’t use this option very often as I tend to prefer the sure thing of a gift card, but I have entered a few of them.  Never won yet though. :(

Swagbucks is a pretty cool rewards site that I’ve been using for years and I’ve never had a bad experience with them.  Over the years, I’ve redeemed my Swagbucks for a whole bunch of Amazon cards.  Depending on how much I use the site, I’ve sometimes earned a new card every month.  On average, it’s more like every 3-6 months though.  Still, for a few minutes a day, it’s an easy way to save a bit of money on my Amazon purchases.