Save money

I was looking for a way to know when I can mark this “done” and it seems I’m not the only one. Since I am using 43things to mark the accomplishment of goals, I need to figure out how to establish a goal for something that I want to integrate into my life as an ongoing “practice” (like “save money”). Participating in a broad and popular goal like “save money” means I have easier access to the community, support, and accountability aspects of 43Things. The addition of an achievable goal as a dimension will allow me a sense of accomplishment.

My new tangible goal is:

Achieve a long term savings rate of 30% of my gross income and a short term savings rate of 15% and sustain it for at least 3 months.

My long term savings will be retirement oriented (401k, Roth, Long term investments). My short term savings will be for things like vacations and anything that will help me enjoy my life…I have never had this before and it’s about time I start.

I decided on these numbers as a result of a mental mash-up of “The 60% solution” and “Freedom Accounts” as budgetary solutions. And I intend to have February be my first successful month.