Freedom Fund: The Final Frontier (of 2007)

Two more of my medical bills have been processed by my insurance company, but they're not the big ones. I'm waiting for the big ones to roll through, so that I can replenish my emergency savings account.

I keep watching the balance on my Freedom Fund account--I was surprised by how nervous it made me to see that number drop to $450. It really does provide a sense of safety, that little cushion, and I had a sort of free-floating anxiety without it, a sense that I might be caught unprepared for something, though I didn't know what. Now, with the CD rolled in, some of my reimbursements redeposited, and new contributions, it's up to $2,250, and I don't have to hyperventilate, but I'll still feel way better when I can deposit the rest of the reimbursement checks and bump it up above $4,000 for the first time. Exciting!

We're rolling into the final quarter of the year, now, so I have to start thinking seriously about making sure I meet my goals for this year. I was definitely stretching when I bumped my emergency fund goal for the year to $5,000. I should definitely hit it if I get a raise (even just the same amount as I got at my last review), but without that, it'll be a tough milestone to reach (though not impossible). I need to begin giving some thought to where I want my emergency fund to end up, ultimately, but I can get more serious about figuring that out as I get more serious about figuring out what I want to do with the next year or so of my life. (I have a tendency to over-plan--I start to make plans before I really have all the necessary information.)

Regardless of the goals I set for '08, I'm excited about the final push to my '07 goal. I like the challenge of a goal that's high but not impossibly out of reach, and I'm looking forward to the confidence, both in safety and in freedom of choice, that a bigger emergency fund will make possible.