Being Able To Save RM1,000 In Emergency Fund, Thanks To AKPK

I am glad that I have successfully saved RM1,000 as emergency fund in my personal savings account.

I mentioned that I would set up emergency fund in February 2008. Unfortunately, it didn’t work.

At that time, hubby’s income was meagre and unstable. My income was barely enough to pay the credit card payments, utility bills and car and home loan instalments.

February 2008? I didn’t even know there was such a credit counseling and debt management agency called AKPK and its debt management program (DMP).

I only got to know AKPK in April 2008 while I was watching a biz program. But even then, it didn’t cross my mind that I wanted to enrol in its debt management plan.

I was still trying to pay down the credit card debt without wanting to get help from the credit counselling and debt management agency. I kept telling myself that I just needed to work a little harder to increase my income and cut down a lot more on expenses and spending, then my credit card debt would be gone.

Well, God always has something better for us, right? I must say that it’s God who gave me the chance to bring my financial havoc back to the right track. God heard my desperate prayer for financial help and led me to the AKPK debt management programme (DMP).

My AKPK DMP was approved in October 2008. Since then, I have been making one low payment to AKPK by the 30th every month.

Paying lower monthly repayment to AKPK also means that it’s possible to save money as emergency fund.

As of today, the amount in my personal savings account has reached RM1,000. There is still about RM700 from Amazon.com; it takes more than a month for the check to clear.

Added up, I will have had more than RM1,700 in my personal savings account pretty soon.

If the envelope budgeting system or the Canada credit counselor and personal money management expert, Gail Vaz Oxlade’s magic jars works on hubby, it’s likely that there will be more money saved as emergency fund.

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