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Reached First Savings Goal

November 22nd, 2016 at 01:25 pm

As of today, I reached my goal of $1,000 in emergency savings. That is approximately one month of my share of expenses. That does not include my husband's share.

Next goal is for three months of my share of expenses and I only have $2,300 to go. I set my goal date for June 30th of next year but I think I can get it by March or April.

I started this journey in September and I was able to meet this before the end of November.

My hope and prayer is that I will not need to tap into this.

A different goal:
I want to start a new car fund. My car can likely function for another 5 years so I want to start equivalent savings program as though I am paying a car payment. I will likely have enough for a down payment by the time I am ready to buy.

6 Responses to “Reached First Savings Goal”

  1. Carol Says:

    Good job!

  2. LivingAlmostLarge Says:

    Congratulations!

  3. VS_ozgirl Says:

    Way to go! The new car fund is a great idea because instead of paying interest, you can earn it while you save.

  4. rob62521 Says:

    Awesome! Good idea on the fund for a new car.

  5. debt-free by thir-ty Says:

    Congrats! And great idea on the car fund. I had every good intention of doing that, but instead the money went right back into other categories in my budget. I'd definitely suggest automating and putting it into a different account where you're less likely to be tempted to touch it.

  6. creditcardfree Says:

    Congratulations!!

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