Debt Free Charts: Baby Emergency Fund Savings Chart

I know it sounds like a fund for an unexpeded baby, but that is not the case.

The Baby Emergency Fund is the first step in the journey to Debt Freedom. Save $1000 fast, sell something, have a yard sale, deliver pizzas, take a side job, whatever it takes to get that cushion built quickly.

I have left the numbers off this one, even though most will use $1000 as their goal. Dave Ramsey recommends that those earning smaller incomes start with a $500 Baby Emergency Fund, and I know many whom have decided that $1000 just wasn't enough distance between them and Murphy, so the Baby Emergency Fund can be anywhere from $500 to $2500 or more, depending on your situation.

Download the Baby Emergency Fund Savings Chart here.

To Use Your Charts

Fill in your total debt (or savings goal) amount at the top right of the chart, divide your total debt by 25 (the number of lines to fill in) and enter that on the first short line above $0 at the bottom of the chart. Then fill in the rest of the amounts up the chart, adding your base number each time.

For example, if your total debt is $10,000, then enter that at the top, enter $400 (10,000/25=400 ) on the short line above $0, $800 on the next short line up, then $1200, and so on.

Each time you make a payment, or add to your savings, fill in the chart with a colored marker. I like to use one color per month, so I can see at a glance how I'm doing.

Debt Free Charts

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Baby Emergency Fund Savings Chart

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