Furlough Fund

As a federal government employee, I knew, with the November 2010 election results, I became a target for Republicans and Tea Partiers. And they have not disappointed.

A Congressman (whose name I cannot recall) has introduced a bill to furlough federal employees for total of 2 weeks in 2012. I take such pronouncements seriously. And I responded the only way possible: establishing a furlough fund.

Pretty easy. I divided my bi-weekly pay by the total number of remaining pay periods this year (24 at the end of January). By the end of this year I will have two weeks pay set aside to cushion me against the coming furlough (this fund is separate from retirement, long-term savings, car maintenance and emergency fund).

For those members of the Financial Wellness Group at my job who do not have sufficient funds to cushion them against the 2012 furlough, I advised they start setting aside money ASAP. Establishing and funding this furlough fund is more important than paying off debt (in my humble opinion).

Yes, I know we federal government employees are so fortunate to have such ADVANCE notice about the upcoming furlough. That’s why I’m planning for the worst case scenario.

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