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Savings Ideas

November 11th, 2013 at 02:17 am

It's been a long time since I've blogged. Since August, my goodness!!

Now that the end of the year is here, I'm getting a little motivated. I've been on auto-pilot for several months due to general fatigue, but I seem to be getting my savings mojo back.

Idea #1: We finally got back to the $25,000 mark in the wealth account after the car purchase in May. It took longer than I thought to get back to that point, but finally, this month we hit the mark. Now that the account level is back where I want, I'm using that savings allotment ($130 per pay period or $260 per month) to beef up the Freedom Account (the account I use for irreqular non-monthly expenses). I want to fund at least three of the subcategories a year in advance: car insurance, my spouses medical leg braces, and dental. The Freedom Account has been great for managing the finances but it gets a serious workout. Getting a little bit ahead, should help.

Idea #2: Once the Freedom Account is 'super-funded', I will use that same allotment to 'super-fund' the house repair account. The current allotment is $25 per pay period and the account has remained at the same $1,000 level for the past year, because of the workout that account gets. (Old house, lots of $200 to $500 repairs.)

Idea #3: Continue the $200 allotment to the wealth account to save for the next car purchase. Once the Freedom Account and House repair account are 'super-funded', will use that allotment for the car savings.

That's it for now. Still fine-tuning a few other ideas. Happpy saving everyone!!

3 Responses to “Savings Ideas”

  1. creditcardfree Says:

    Great ideas! Nice to hear from you.

  2. mamasita Says:

    I like the way you are "snowballing" savings! I need to do the same thing.

  3. snafu Says:

    Good on you! Good plan, look forward to seeing the update on your side bar. What does Roth invest in?

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