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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.

Posted in Saving Money | 6 Comments »

6 Responses to “Reached First Savings Goal”

  1. Carol Says:
    November 22nd, 2016 at 01:39 pm 1479821949
    1479821949

    Good job!

  2. LivingAlmostLarge Says:
    November 22nd, 2016 at 05:28 pm 1479835719
    1479835719

    Congratulations!

  3. VS_ozgirl Says:
    November 22nd, 2016 at 09:30 pm 1479850246
    1479850246

    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:
    November 23rd, 2016 at 04:15 am 1479874551
    1479874551

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

  5. debt-free by thir-ty Says:
    November 23rd, 2016 at 12:56 pm 1479905769
    1479905769

    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:
    November 24th, 2016 at 04:47 pm 1480006027
    1480006027

    Congratulations!!

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