November 28, 2007
Here are my two major financial goals:
1 - Fund my emergency savings fund with two months’ living expenses. This should work out to approximately $2000 (my actual living expenses would not be that much, but it’s a nice round number). I plan to do this by putting $500 out of the second paycheck I get every month into a high-interest savings account, starting with my January 18th paycheck. This should be done no later than April 18th.
2 - Save enough money to buy a decent used car. After I fund my emergency savings fund, I will take that $500 and begin putting it towards saving for a car. As well, I plan to use the “extra” money that I save elsewhere, or from the third paycheck of the month, etc. towards this. I am budgeting $7500 for a car, and I intend to have that saved by no later than December, 2008.
November 28, 2007 at 10:20 pm
I just came across your blog, and I can’t stop reading. I am truly impressed. You are providing step by step instructions on how to dig yourself out of a hole, by example no less. You are on your way in only one month! Sure you’ve got a way to go before you meet your goals, but well done! I’ve got friends in better shape than where you started that can’t do what you’ve done… and it’s sad to watch. Your story makes me smile, because I know you are going to be fine.
You had another post asking if creditors would view your credit history differently because of the story… you ended up where you did because of some tragic events. Well, sadly, as you’ve found out many things are based on that silly little number, and that’s all the creditors really have to go on. But you know what will view it differently? Life. The universe. See, you’re motivated, determined, and intelligent. You’re willing to take responsibility and work. That’s all you’ll really ever need.
I’m sorry that life threw you some hard times, but I’m not worried about whether you’ll make it out the other side or not. You’re already on your way out… and I’m excited to see where it takes you. Maybe you could set up an RSS feed for your blog?
Take care, and good luck.
December 5, 2007 at 7:35 am
[...] Day at a Time has 2 savings goals - to boost the emergency fund, and to save enough money to purchase a decent used [...]