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Current Saving

December 24th, 2011 at 05:10 pm

I am really into automatic savings. I have a lot of bank accounts. When I know I am going to do something (like travel somewhere) I figure out how much it will cost, then start an automatic with drawl into an account. It really helps me because I travel a lot. I also save for people to come visit me. I save $25/week so my high school friend can come visit one a year!

My current automatic savings:

1) $16,000 - Misc fund - this is my emergency fund. Automatic savings is $14,000/year ($1200/month)

2) $1000 - House fund - mostly designated for new fence and tree trimming. No automatic savings (need). Constant need for house repair.

3) $1000 - Taxes - Not enough. No automatic savings.

4)$3600 - Cats - for vet bills. Automatic savings $200 every 2 weeks. Not sure how much to save, have 3 12 year old cats. Vet bills typically $2500/year.

5)$55 - Me savings. For things I want. Automatic $33 every 2 weeks. Balance recently went to pay K credit card.

6) $5 - K savings. After his cc paid. No automatic savings

7) $2200 - Mortgage and bills. To cover times when payroll doesn't match up with bill paying. automatic savings $400 month.

8) $200 - Cars. To pay for car repairs and eventually new cars. Automatic savings $400/month. Balance recently went to pay K credit card.

TRAVEL - will end when trip taken
9) $400 - $100/week VEGAS 1/12
10) $700 -$400/month London 10/12

11) $800 -$200/month - Nieces 1/12 - air already paid
12) $950 -$25/week - J soon

2 Responses to “Current Saving”

  1. Beawealthywarrior Says:

    I love the idea of you saving for your friend to come visit. I think I may steal this idea and start doing the same. My best friend since hgh school always does everything for others but nothing for herself. Now that I live in Vegas and her in Utah, it will be much easier for her to visit. I paid for her to come out in October to go to a concert with me and we had a great time. If I hadn't sent her the ticket she would have never came. Thanks for the idea and welsome to SA!!

  2. PurpleLight Says:

    Thanks for the welcome. I'm still getting used to the idea of sharing my finance stories, I don't usually talk about it to anyone.

    Saving for trips also makes them real, and they actually happen. Spending time with friends and family is one of the best uses of my money!

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