I have never considered myself a “math” person, but there is something so beautiful about spreadsheets and having a solid plan. I’m talking about saving money here 🙂 Nathan and I are working hard to meet some goals for the year. We have a list of 6 separate things that we are saving for right now. Being out of debt is very cool. I need to keep reminding myself of that, because, at the next step, when you are looking at all the things that are coming up that are going to cost money, it’s easy to be overwhelmed.
Anyway. 6 things that we are saving for. So, I put together a little spreadsheet for us to see how much we needed to put aside each month so that we had the right amount saved at the right time. It would seem like it would be straightforward, but not everything is “due” at the same time. This is what we’re saving for:
- Tutorial tuition 1st payment (due in June).
- Vacation to see Hennings (due in June).
- Tutorial tuition 2nd payment (due in September).
- Vacation to see Fritz family (part due in early Spring and part due in November).
- Emergency Fund (we want to have it fully funded by the end of the year).
- Car replacement (we want to have a certain amount of money saved by the end of the year).
To further complicate the matter, since Nathan started this job, we don’t make the same amount every month. We wont necessarily have enough every single month to cover every single savings category. Some months we will have more than enough. In the end, the only savings goal that might not get met is the car replacement goal. And that’s because, I am bound and determined that come hell or high water we ARE going to have our Emergency Fund fully funded and I will do what it takes to make sure that happens! That is more urgent to me than the car replacement because we wont need to replace the van for a while and we already have a bit saved to replace the Taurus. I’m also budgeting to have Audrey and Ethan both do tutorial. I budgeted enough for both of them to do the full day (I think- I need to confirm that), but I don’t think I am actually going to have Audrey do the entire day. She may just do 2 classes instead of 5.
I’m not sure what my point is 🙂 I just wanted to talk through our thought process and how we’re thinking through the expenses that are coming up. So, now it’s your turn! What are you saving for right now? Something fun? Something practical?
I’m sitting here dreaming about how wonderful it would be to do something less practical, like a trip to the beach right now 🙂