Save money

Started a new, higher interest, savings account. Once our old savings account is replenished a bit, I’ll move the regular deposits to there.

$100 in, $400 out. Stupid brakes. Oh, well. This is WHY we have a savings account.

Just $100 in. We could’ve put in the $150 (and I still might), but there’s some medical stuff going on that’s eating into the savings budget, along with the college application and transcript stuff. I guess I need to re-evaluate the budget to include these things._

I’m pondering that $100 is probably more realistic than trying to do 10% right away, especially with trying to get out of debt at the same time. So, as long as that goes in, I’m happy, but will attempt to put in extra here and there. We can work our way up to 10%.

My goal is really just to have several months worth of income squirreled away, just for peace of mind. And once it hits a certain amount I can move it to a high-interest account and deal with any penalties if something ever happens that we need it.

Added $100 to the savings account this month. Hopefully $150 next month since we shouldn’t have any to replace. I figure increase by $25 per month so that it doesn’t feel like a big drain all at once until we get to 10% of net going into savings.

We’ve been pondering increasing the 401k deposits from 1% to 2%, but then we’d have less to put in our emergency savings. Hmmm. I’d like to get about 6 months backup stowed away, preferably in a higher interest savings account than the general one we have now.

We really need to set a priority. Emergency savings? New vehicle savings? Paying off debts? 401k? I guess that’s a discussion we need to have… soon. This floating one way then another is really irritating.

We’ve been focused on paying off debts instead of saving for as long as I can remember. Yet our excuse for not chopping up the credit cards is “in case of emergency”. If we had several months of savings in the bank, we’d have plenty of emergency money. I think I’m going to refocus this month into putting more in savings instead of paying extra on credit cards. Maybe.

We finally started a savings account last month! Yay! And then we took $40 out this week. BOOOOOOOO! I will be putting that $40 back in on Friday plus $10, so our balance will be only $10 more instead of the $50 it should have been. I know it’s because we’re on vacation, but we really need to stop using stupid excuses like that.