Tuesday, May 12, 2009

Savings Changes!

I am making a few adjustments to my savings goals after looking over my budget today. The economy is still not great, people are still losing jobs and this recession might go on for longer than people think! (Or shorter - let's be optimistic!)

Instead of $75/month to Travel, I am decreasing it back down to $50/month.
Instead of $50/month to Car Maintenance, I am decreasing it back down to $25/month.
Instead of $100/month to my E-fund, I am increasing it up to $150/month.

My travel fund is still doing very well, though I might be using it to buy some plane tickets soon! (Once I figure out my travel plans for the rest of the year, that is...)

My car fund has $350 in it right now, which I believe is sufficient for the 60K tune-up I need to get done and other on-going maintenance like oil changes. I have been looking at prices for the 60K and I know some people who can help me get a decent deal and not get over-charged, which is my fear!

I want my emergency fund to keep going until it's at a level I am comfortable with. Yes, I realize that over $6K is a fantastic place - but I want it to get to $10K to feel totally okay! That would be 8 months of my bare-bones budget, with no savings or little extras. Once it reaches around $8-10K, I'll allocate the monthly savings to something else... perhaps a down payment fund? :)

Have you made any changes in your savings habits recently?

2 comments:

SavingDiva May 19, 2009 at 9:58 AM  

Unfortunately my savings has gone down hill recently :( I hope to get things back on track when this whole condo purchase thing closes.

Bonnie May 19, 2009 at 12:55 PM  

My savings is off track too due to higher-than-expected expenses for a destination wedding that I'll be attending in June.

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