Let’s Talk Personal Finance & Why You Need A F$ck Off Fund!

(Warning: this post contains some graphic language)

A few days ago I came across an article by Paulette Perhach from The Billfold  ‘A Story of a F*ck Off Fund’.

I know, it starts off a bit depressing!

The article tells the story of a young college grad starting her professional career and moving in with her boyfriend of some time. Then her financial situation GETS REAL. The use of her shiny plastic credit card gets more appealing, the old college car won’t do it anymore, the expensive lunches to make work buddies keeps happening, and to add to all of that, the lovely boyfriend turns into Mr. Hyde.

Let’s also add the new creep boss to the equation.

“You have $159 in the bank and your car payment and your maxed out credit cards and you’ll die before you ask your dad for a loan again and it all equals one thought: I need this job.” 

Now, she is stuck.

So, the article is pretty much reminding us we need to work on our savings. RIGHT NOW!

We need to nurture the financial aspects of our lives. Water them, give them attention, like we do to other things. WHY? Because we never know what might happen to us.

Call it what you want, emergency fund, rainy day fund, it doesn’t matter. The concept is having some sort of security in order to walk away from any situation that feels wrong. Having a stash fund to protect yourself is something we should all strive for.

“If any man ever hit you, if anyone ever sexually harassed you, you’d tell him to fuck right off. You want to be, no, you will be the kind of woman who can tell anyone to fuck off if a fuck off is deserved, so naturally you start a Fuck Off Fund.”

” To build this account, you keep living like you lived as a broke student. Drive the decade-old Civic even after the fender falls off. Buy the thrift store clothes. You waitress on Saturdays, even though you work Monday through Friday. You make do with the garage sale coffee table. It’s hard, your loan payments suck, but you make girl’s night an at-home thing and do tacos potluck.” 

Now, easier said than done, right?.

Everything is so appealing now a days. The new bag you’ve been eyeing, the new car you believe you should give yourself as a reward for an accomplishment. But, sometimes a little sacrifice is needed in order to protect your future.

“You save up a Fuck Off Fund of $1,000, $2,000, $3,000, then enough to live half a year without anyone else’s help.”

Yes, of course the girl in the article could have totally found a new job, left the boyfriend, moved to her parents house, ect.

Yes she had other options! But, the situation can be different and the end result the same. We all need savings in case something big and unexpected happens (which is what life is all about). Your car breaks down, you get laid off, things can go wrong, and we can’t predict the future.

“Once your Fuck Off Fund is built back up, with your new, better job, you pay cash for the most bad ass black leather skirt you can find, upgrade to the used but nicer convertible you’ve always wanted, and start saving to go to Thailand with your best friend the next summer.” 

Now, did this help you? Not everyone is in this situation, but sharing the fact that you can “start over, rewrite what happens to you.” is something I totally stand behind.

Here are some tips on starting you own emergency fund

1.      Analyze your expenses: Take a close look at all your purchases. Where are you spending the most? Some of us swipe our cards without a second thought. Now analyze your bank statement and you’ll be shocked at all the places your hard earned money is going. Promise.
2.     Cut Back: Whether its on drinks, nights out, or shopping. Think hard and decide what’s a need and what’s a want. It doesn’t have to be forever, but a couple of months of sacrifice can make a big impact on your savings. Priorities, priorities!
3. Set a Goal: Setting a financial goal is just as great as setting a fitness goal. PUT IT IN WRITING! This helps so much. Whether its a vacation or an emergency fund, set clear attainable goals and give yourself a deadline.
4.     Open up a separate savings account (Rename it F-Off Fund): This one’s powerful, set up a totally separate account you will not touch. Name it whatever motivates you to save. (I really did name mine this 😉 )
5. Every dollar counts: Whether its $10-$25 a week, it all counts. Set automatic transfers, so an amount is moved to your account without much effort. Forget about this account and watch your savings grow.