But I'm ready! I freaked out a bit and planned ahead. We got through over $3,5000 in medical bills (all paid, no debt added) and I still managed to bring our home emergency fund up to $4,000 dollars. This money is now sitting in our savings account and can be transferred quickly for any unexpected expenses. I'm hoping to add a little bit more money this week (birthday stuff) but this is what our bank account looks like as of this morning:
What worries me the most is the BABY! You could say I panicked a bit and went out and got close to 400 diapers, 800 baby wipes and 8 cans of formula. I also purchased the very cool Motorola MBP33 Wireless Video Baby Monitor which was one of the items we didn't get in our registry, probably due to the $189.99 price. All these baby purchases were made using stuff from our shower we never really used. We had tons of clothes and some gifts that came after the baby arrived. The nice thing about stores like Target is you can return stuff without receipts for in-store credit. I did not use Citi or add any new debt for these purchases.
The baby also has her own mini emergency fund at home. I saved up $250 dollars in cash in case she needs anything. The money is in her bedroom drawer and I also saved up all the gift cards she got when she was born (most of these came from her co-workers):
Babies R Us: $200
For the wife I also saved up gift cards. She has close to $250 in Macy's gift cards which should come in handy in case she needs anything. I also have many Lowe's and Home depot cards that I got from Citi as rewards in case we need anything around the house. To take care of gifts I also have gift cards for Best Buy and Pier 1 which total around $150 each.
Around the house I also managed to stock up on everything. I bought 240 thrash bags (Glad Forceflex). I bought 10 containers of detergent (Arm and Hammer 68 oz), 60 liters of water (I drink these at work) and all kinds of foods that will keep in the pantry for months. I also saved up tons of restaurant gift cards in case we want to go out to eat on the weekends- too many to list here but most of them are in the $25 to $50 range to restaurants like P.F Chang's and Olive Garden.
Yes I have saved up over $1,000 in gift cards but the goal is to rely on these instead of dipping in to the emergency fund. We will probably have to survive on $800 after all bills are paid on each pay period, before it was close to $1,600 so that's almost 800 dollars less to live on (gas, groceries, expenses) which is why I freaked out and did all this.
I labeled this post Turbulent Times Ahead but I think we're ready! I'm prepared to live on less income until September 15! Wish us luck!