Wow. Guess who just got a FREE ticket to Dave Ramsey’s upcoming Total Money Makeover Live Event? Yours truly, good old NCN. AND, it’s not just any old ticket. Nope. It’s a VIP ticket. Dave offers three “levels” of seating. (Info comes from DaveRamsey.Com)
Regular Event Seating: 29.00
VIP Seating: 55.00
Platinum VIP: 159.00

The Platinum VIP seating gets you a meal with Dave prior to the event. I’m getting the “regular” VIP ticket, which simply assures that I’ll have a seat reserved until 10 minutes before the event. I’m really, really stoked.

How did I get this free ticket? Well, I was talking to a friend of a friend about Dave Ramsey the other day, and out of the blue, he mentions that he MIGHT have an extra ticket for this weekend’s event in Atlanta. Well, this morning, I get a call, and… sure enough… my man has an extra ticket, and he gives it to me. I tried to pay him for it, but he refused payment. I am super excited. We live about 3 hours from Atlanta, so I’ll probably head out about 7AM, find some decent parking, and settle down for some Dave Ramsey teaching.

This post is the first in my week long series about attending a Dave Ramsey Total Money Makeover Live Event. Stay Tuned!!!

BTW, my site is in NO WAY affiliated with Dave Ramsey. Everything I do, he does much, much better, so go check out his way rad site at DaveRamsey.Com.

Oh yeah, here’s the website for the church where the event will be held: First Baptist Church Woodstock.

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The Festival of Frugality: A Financial Fairy Tale: A Silly Story Created With Articles, In The Order They Were Received.

Jim and Jenny: A Personal Finance Romance

By: Your Resident Dork, NCN

Jim and Jenny met one night at their local coffee house. They were both considering the high price of certain frappuccinos. Jenny was a practical girl, training to become a midwife in North Carolina. Jim, well, he didn’t think about practical things, like saving money on his electric bill or whether doctors and lawyers make too much money. Nope, Jim was a dreamer. Jim figured that if he had a little cash set aside, he could spend his hours playing golf, going to the beach, and drinking expensive coffee.

Not Jenny. She was concerned about getting out of debt, pinching pennies… and returning her soda cans so that she could one day afford to get married. Jenny was thirsty for a life of security. She had a long list of things she was looking for in a man. But, alas, she was better at complex mathematics problems than she was at relationships.

Jim and Jenny accidentally bumped into each other as they exited the coffee house. Jim was on his cell phone to his good buddy, Rich Tim, and didn’t see Jenny until it was too late. After helping her up off of the floor, he was stunned by her simple beauty. He immediately asked her if she wanted to come over to his house and help caulk his windows. Jenny, who’s own house was rather expensive and expansive, was shocked by Jim’s forwardness. But, alas, she found her self attracted to Jim’s charming, peaceful nature. She shocked herself by telling Jim that, yes, she would love to come help him caulk his windows.

(Jenny had a knack for caulking windows, as well as for hanging sashes and installing money saving electrical devices and the like.)

Jim suggested that they order pizza. Jenny agreed. To save time, they ordered it from Jim’s Internet-capable cell phone. Jenny was a bit put-off by the extravagant cell phone, and she told Jim so. You see, Jenny believed in frugality! She’d learned her lesson the hard way, when she’d purchased more home than she could afford. Now, she was in debt, and she had been forced to pinch pennies. Jim thought very little about money, and had squandered most chances to save. He was foolish, putting off his retirement savings, eating too much pizza, and riding around town, willy nilly.

(You might pause to think… What did Jenny see in Jim? What did Jim see in Jenny? Who knows. But, perhaps they saw in one another what they themselves were lacking. Jenny needed someone who would take her to plays, teach her about art, and buy her nice things. Jim needed someone who would balance his checkbook, organize his 401K, and, yes, help caulk his windows. It does seem, yes, that opposites really do attract…)

After arriving home and caulking many windows (for it was getting cold out), Jim and Jenny settled down on the couch for a long discussion of their favorite holiday candy. (Jim’s mom was the influence behind his eating habits. She loved pizza.) (Jenny on the other hand, secretly loved wedding food. In fact, she’d attend weddings almost anywhere, just to get her hands on those little, white wedding cookies.) Jim remembered a book he read in college, about the invention of Hershey’s Kisses.

The discussion quickly turned to the subject of chocolate.

Jenny loved chocolate. So did Jim. Wow!!! The coffee shop! The frappuccinos!

Could it be?

Could these two opposites really have something in common?

Realizing that fate hate brought them togeter, and tired of playing games, these two love birds jumped into Jim’s car, dialed up the local minister, and set about the business of getting married!

And, even though they were different in almost every conceivable way, they loved each other. They would argue about money, and make up over pizza. They would fuss about budgets, but rejoice over shared-chocolate. They would disagree about debt, but snuggle together nightly in their warm, loving, well-caulked house.

And, they live happily ever after. The End—

Dork!!!

The above was inspired by my wife, who does not concern herself with finances, but concerns herself with the beauty of life, the wonder of of child’s smile, and joy that only a cozy fire can bring. She is my Jim. I am her Jenny.You know what I mean…

—

A big thanks to everyone who participated in this week’s Festival of Frugality. Direct links can be found below (for all you Jenny’s out there…)
http://www.manageyourdollars.com/node/6

http://makingourway.blogspot.com/2006/10/
http://www.binarydollar.com/2006/10/30/
http://wenchwisdom.blogspot.com/2006/11/
http://www.universeofsuccess.com/
2006/10/saving-account-super-charged.html

http://vervecoaching.com/?p=31
how-to-get-a-raise-in-15-minutes/

http://itsjustmoney.blogs.com/its_just_money/2006/10/recycling_time.html

http://www.investortrip.com/2006/10/07/brita-water-filter-saves-you-money/

http://www.yourcreditadvisor.com/blog/2006/10/102_personal_fi.html

http://bargainquest.richmondbargains.com/2006/11/03/15-percent-versus-10-certificate-on-50.aspx

http://wenchwisdom.blogspot.com/2006/11/crash-quiz-l-o-n-g.html

http://stoptheride-stephanie.blogspot.com/2006/11/my-husbandthe-bargain-king.html

http://www.freemoneyfinance.com/2006/10/save_money_by_s.html

http://www.thoughtfulconsideration.com/2006/11/02/finance-investing-etc/buying-a-big-house-is-more-expensive-than-you-think/

http://debthater.typepad.com/debt_hater/2006/11/running_off_to_.html

http://www.pfadvice.com/2006/11/02/spend-to-save-10-things-to-buy-that-will-save-you-money/

http://www.scottonmoney.com/2006/11/cheaper_pizza_online.html

http://www.queercents.com/2006/11/03/time-is-money/

http://my-wealth-builder.blogspot.com/2006/11/five-ways-to-be-frugal-while-building.html

http://money-and-investing.dogberrypatch.com/archives/retirement-savings-contributions-credit-aka-savers-credit/

http://www.fivecentnickel.com/2006/10/26/lose-weight-save-gas/

http://www.lazymanandmoney.com/post-holiday-savings/

http://www.momadvice.com/blog/2006/10/dinner-is-in-bag.htm

http://www.bridalbargainsblog.com/wedding-cost-cutting-tip-find-a-venue-under-renovation.htm

http://www.bargaineering.com/articles/pfcollege-use-your-college-facilities.htmlhttp://frugalupstate.blogspot.com/2006/11/bunco-or-bunko-free-or-at-least-cheap.htmlhttp://opportunitiesaplenty.com/Debt_Blog/2006/11/know_this_when_you_lease_a_car_or_pay_th.html
http://firefinance.blogspot.com/2006/11/frugal-tip-free-411-service.html

http://www.wallerblog.com/2006/11/06/how-to-run-your-personal-business

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I will be hosting tomorrow’s Festival of Frugality. Please go to Blog Carnival and sign-up with your posts!!!

Here is a list of the Carnivals that I am participating in for this week:

Carnival of Personal Finance

Carnival of Family Life

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I’m going to be moving my sites from blogger to dedicated hosting. If you have a link to any (or all) of my sites, please, please, please have the links listed thusly:

ncnblog.com
ncnpodcast.com
ncnnetwork.com

Thank you, thank you, thank you!!!

During the next few days, there may be periods of time when one (or more) of my blogs is “down”. Please excuse this inconvenience.

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You’ve decided to build an emergency fund of 3 to 6 months expenses. So, how much do you need to save? Where should you save it? How fast can you save it?

First off, one quick note, there are those who feel that cash-emergency funds are unnecessary. They believe that if you have a credit card (or available credit) then you don’t actually need “cash” in your emergency fund. I disagree with these folks, not because I don’t understand their premise, but I want to live a “cash-only” lifestyle.

How much do you need to save?

So, how much do you need to save? This depends on what you consider month expenses. For me, my monthly expenses would include the following, necessary items:

• Shelter (Rent, insurance, mortgage payment, electricity, basic phone)
• Food (Groceries, basic cleaning supplies, basic laundry supplies, etc., baby items)
• Clothing (Including clothing needed for a NEW job search, baby clothes, etc.)
• Insurance premiums (Life Insurance, Health Insurance (if tied to job!), Auto, Home, Etc.)
• Cell phones (basic package, for emergencies, job searches, etc.)
• Day Care

As you can see, the above list leaves a LOT of room for individual needs. Maybe you don’t “need” day care, or “need” a cell phone. Think about what you would do if you lost your job. What if your spouse lost his / hers? How much money, every month, would you NEED to survive. We are not talking about living a super-duper fly lifestyle. How much would you need so that you could survive, make your payments, find a new job, and go to bed each night without worrying? Then, decide if you need 3 months, 6 months, 9 months, or even a full years worth of savings.

This is all about COMFORT!!! You want to feel comfortable with your emergency fund. My advice? Keep saving until you feel that you have a decent amount of readily available cash for unforeseen emergencies or loss of job.

For me, my monthly expenses average somewhere around 2000 dollars or so… I have 20,000 dollars saved in my emergency fund, and 4000 in my primary checking account, so I have 12 months of emergency funds available. (Special note: My home is provided as part of my compensation. If I lose my job, I lose my house, so I have a super-big emergency fund!)

Where should you save your emergency fund funds?

Ah, this gets a bit tricky. Your emergency fund needs to be available, but not “too” available. Remember, this money is for replacing a broken washing machine or paying for unexpected health care needs. This money is NOT to be used for that impulse purchase of a Plasma HDTV!

Options:

• Your primary checking account. (Downside? Little or no interest earned on your money. Upside? Readily available, quick access, easy to “keep up with”.
• Your banks savings account. (Downside? There may be fees associated. Withdrawal limits. Upside? Your money makes some (a little) interest.
• An online savings account, such as ING Direct, HSBC, Emigrant Direct, or E-Loan. (Downside? Funds take 2 to 5 days to reach your checking account. Upside? Much higher rates (4 percent of greater), money is more “difficult” to get to, thus reducing chances of impulse purchase!) (If you’d like a referral to ING Direct for a 25 dollar bonus, email me!)
• A taxable brokerage account. There are tons of online brokerages who will allow you invest your money in stocks, money market accounts, and mutual funds. (Downside? If you invest your savings account, your balance could go down, down, down. Upside? If you know what you are doing, your balance could go up, up, up.)
• CD’s with your local (or online) bank. (Downside? Your money may not be readily available, and you will pay penalties for early withdrawals! Upside? Higher interest rates)

There are other options for where to keep your emergency fund. For me? I use ING Direct and my local, primary checking account. I sacrifice a bit of interest for the ease and convenience. I would suggest that you NOT invest your emergency fund. The last thing I want to do is risk my “fall back” money!

How Fast Can You Save Your Emergency Fund Funds?

How fast you save your emergency fund funds depends on how much “extra” money you have left after your monthly expenses. For me, I wanted to be debt free BEFORE I saved for my big emergency fund. Why? Personal preference and math. I didn’t want to save money at 4 percent, while owing money at 7 percent. Also, I hate debt!

Some suggestions:

• Create a budget! Nothing will help you in your financial progress like a good, solid budget. (Click here to read about the budget software that I use!)
• Cut out unnecessary expenses. (Click here for an awesome list of money saving ideas!)
• Get super-serious about saving money. Remember, only YOU can change YOUR future!

I hope this little guide helps you. If so, feel free to leave a comment! Emergency Funds rock!

(Edit for clarification: The Emergency Fund that I am talking about above is your 3 to 6 months expenses AFTER you get out of debt. I believe that you should ALWAYS have a mini-emergency fund of 500 - 2000 dollars, no matter your debt situation!)

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