One of the most common reasons for the failure of short term financial plans is a key appliance failure. Setting aside just $10 a week to an appliance replacement fund can make a difference.
It’s been a real challenge turning our financial situation around. My husband seems supportive but he’s having a really hard time breaking his old spending habits and with our reduced income it is really a challenge every month.
I finally was able to get about $300 together for an emergency fund and I was really happy with my progress when our hot water heater died. We had to replace it and it not only ate all of our emergency fund but put us a few hundred deeper in debt.
It feels like every time we start to get ahead we end up further behind.