Saturday, March 13, 2010

Dreaming...

In a perfect student loan paying world, I would have an extra $300/month.

Then I would save $100 in a vacation fund, $100 in a Christmas fund and $100 towards my long-term savings goal.

In a perfect world...

5 comments:

Aaren said...

*cough* redo W-4 form *cough*

brainy said...

Why not start with $50 towards each and work your way up...

In that perfect world, though, I'd toss a full $250 towards the loan and the remaining $50 towards the generic savings. Vacation could always come from there.

Reason being, I've found that working on more than two things at the same time evenly split (like the $100-$100-$100) is like watching paint dry.

You won't see much progress in any of them...and it's really discouraging... :0(

Aaren said...

BTW, what are you saving for long-term? Because if you're not saving for anything in particular, I wouldn't be setting aside any money in that fund. You have far more pressing goals to accomplish and a good size short term savings account, and $1200/year could be put toward better use, IMO.

Regarding the other two, I think it's fine to keep them at $100/each. They're planned spending accounts and prevent you from going into debt--or using your savings--to pay for these things. But make sure they're realistic; if you spend more than $1200 for Christmas, you either have to cut down or the excess will have to come from somewhere. Same with vacation

Chitown said...

Long-term savings would be for like a future house fund, baby fund or wedding fund so that when those things occur, I won't have to use debt.

The short-term savings is really just a 3-month expense fund should I lose my job. I would like for this to be more like 6 months but that is also in a perfect non-student loan paying world.

Poker Fan said...

Yes cannot be!