Monday, March 9, 2009

Saving Goals

I'm obsessed with saving money right now. I'm not going to great lengths or anything but I am trying to hold onto every penny I can. Each week, I slide 50 bucks into my savings account. I'm eating as many meals as I can from home. And if I'm hurting for money before payday, I force myself to live off what little I have until I can get replenished. Or I cheat and use my credit card, but only a few times!

My first goal was to scrimp for taxes. But both Pmo and I are getting refunds, so no worries there. My second goal was to pay for our wedding. But the more we talk about it and plan the event, the price tag of our nuptials celebration goes down. My third goal was to pay off credit cards. But I've been able to work on them out of my paycheck. My fourth goal was emergencies. This one is constantly on my mind now. With more and more people getting laid off or having to take days without pay, it's making me want to save even more.

So I'm not sure what my real goal is right now but I'm going to keep saving. I'm even thinking about putting my entire tax refund in savings to boost it up even more. I usually split it between savings, checking, and credit cards. Don't get me wrong, my credit card debt is not bad compared to most. I just want to get rid of it. But I figure the longer I keep my dirty, little hands out of savings, the more I can put into it and do with it later.

Sounds like common sense, I know, but it's hard to do. And I never really considered the importance of having an emergency fund. I took for granted that I would have always have a job and a paycheck coming in every two weeks. I can't afford to think like that anymore.

1 comment:

Talina said...

I don't think many can afford to think like that these days!

Saving is a big thing we have been working on for years and years.

Do you have a retirement account yet? I strongly recommend everyone put money away for retirement ASAP in addition to having an emergency fund.

We have an IRA and I am so glad we sucked it up years ago and had like 30 bucks each check put aside in that separate account.

We are saving for baby costs these days. We are talking paying $5000 out of pocket for the baby's birth since insurance doesn't cover midwives. Oh and N doesn't get paid paternity leave either.... Nice huh?

Saving is always a good idea!