Recession?

Besides the mortgage crisis the big focus of the new lately is the state of our economy. Many people say we are already in a recession and for a lot of folks who have lost their jobs in the past few months, I am certain that they feel we are in one. Hopefully, the economy will cycle through this in the next few months and we can get these people back to work.

I feel safe right now in my financial situation but that could change. I have written about this before but my emergency fund is not what it needs to be. I am hoping by the end of the year that I can get it to at least $10,000 and maybe even meet my stretch goal of $15,000.

Starting with my next paycheck I am going to start saving $200 per paycheck instead of $175. Once I know the full impact of the change I made to my withholding I may even be able to increase it a little more. One thing I do need to do is to stop dipping in to it.