Linkworthy: Funds, Frugality and Satisfaction

Lately I have been pretty dormant here. One of the main reasons at least for the recent dormancy is that our 9 month old daughter was in the hospital for almost a week. She is back at home now and life is returning to something that closely resembles the normal swing of things.

The hospital stay was uncomfortable in many ways. For one, there wasn’t much, as parents, my wife and I could do to help our daughter. She has RSV which is a respiratory virus that, in adults, resembles the common cold but in infants and young children is life threatening. Our daughter couldn’t breath well and it was just hard to sit there and watch while being so helpless.

Another thing that made the stay uncomfortable, dare I say it, is the money. Hospital stays are expensive, even with insurance! I couldn’t help but think, “boy this is gonna cost us” while we were in the ER. Then when they decided to admit my daughter, the thought again crossed my mind but at that point I realized there were more important things going on. I also realized that we have an emergency fund for just this sort of situation, an emergency.

So today’s linkworthy pick is an older post by The Monevator called Emergency Funds: The ten essential steps. This article has some great and usable pointers about how people should deal with emergency funds, myself included. I still have personal conflicts with how I deal with my emergency fund, primarily number 5 in the steps, know an emergency when you see one.

Because of these tips and others I have picked up around the web in the last year, I shouldn’t be worried about money when my daughter has to stay in the hospital, but I do until my wife gives me a good kick…gotta love wive’s for keeping us short-sighted men in line.

The other linkworthy of this week include:

  • J.D. Roth shares additional information about savings account planning in How Much Should You Have In Savings. He shares some pointers from a book I have yet to read called Why Smart People Do Stupid Things with Money
  • One more on funds, Frugal Dad talks about a different kind of fund. The Entrepreneur Fund is an awesome idea. Becoming self employed is very scary and very risky because you never know if your idea will actually go through and you will be able to support your family on the projected income. So instead of jumping in without a plan, Frugal Dad gives tips on preparing a fund ahead of time and building on it when profits come in to support your family while self employed.
  • It may have been better to link to this in January when everyone was spurring up for new year’s resolutions but it’s still early. Financial Samurai shares things he learned after his 35 days without spending any money on junk. It’s more about goals than junk and he has some great tips to reach your goals. He has some expensive tastes but managed to pass up the temptations and reached his goal.
  • No Credit Needed gets deep with Some Thoughts About Thinking. It’s a good idea to just stop whatever you are doing and think about thought sometimes, or think about nothing at all. In our current age of data overload, our brain needs a break at times. TV doesn’t count.
  • Finally, The Digerati Life talked about Measuring Job Satisfaction. Another thing that’s been keeping me busy lately has been job interviews. I can’t share too much info right now but the company is pretty huge and I’m really excited but the interview process is long and difficult. This post talks about different things to consider in your current job to see if you are fully satisfied and happy or if changes need to be made.

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5 People have left comments on this post

» Paul @ FiscalGeekNo Gravatar said: { Feb 26, 2010 - 11:02:13 }

I’ve been wondering were you’ve been. So sorry to hear about your daughter. Indeed that is what emergency funds are for so that you can focus on your daughter rather than money worries. My prayers to you and your family.
.-= Paul @ FiscalGeekĀ“s last blog ..Quicken Essentials for Mac Review =-.

» Jesse MichelsenNo Gravatar said: { Feb 26, 2010 - 12:02:16 }

Thanks for your concern and prayers Paul. She is looking much better today but according to the Dr her stats haven’t improved much. We are all keeping a close eye on her, but the illness will just take some time to get over it seems.

Thanks again.

» Jamel RoseNo Gravatar said: { Feb 26, 2010 - 05:02:13 }

Sorry to haer about your daughter but good to know that she’s home. nteresting new approach to the fund. Although you hear a lot of people saying not to leave the money in an online banking account. Possibly it could have higher interest rates

Jesse MichelsenNo Gravatar Reply:

Jamel, she’s doing way better this weekend but still on oxygen. The PF o’sphere has some clever minds in it that’s for sure. The different funds they come up with, which are all basically just new ways to trick yourself into saving more šŸ™‚ I’m with you on the online thing though. I put em online for the better rate and use a no-limit charge card for all my purchases. That gives me a month break to pay everything, and the entire card balance is due at the end of the month. I also collect points from the card.

» Payton ButlerNo Gravatar said: { May 1, 2010 - 01:05:09 }

The usual remedy for common cold is just lots of water, fruit juice and also vitamin-C tablets.`~*

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