Since I’ve had a few days worth of over-time, I’ve decided to go ahead and use the excess money, plus the money from my (soon to be over) part-time job, and finish funding my Emergency account. So as of Monday Nov. 3rd, my Emergency Fund will be over $1000!!!! Woohoo!! I’m very very excited. Now I can start working on building up my Car Maintenance account, which I’ve decided to change over to a Freedom Account thanks to Beachgirl’s Budget Blog. It makes much more since to make this into an account that covers all the occasional/in-frequent expenses in my life – like car insurance/registration/maintenance, clothing, vet bills/other pet-related expenses (other than food), etc. Some of these items will be fixed amounts, but some will be variable, so I’ll need to estimate. I plan to start putting my FA binder together this weekend and trying to make sure I remember to include all my random expenses. Wouldn’t want to miss any!
Posts tagged Car Fund
Savings Goals
There is the current situation on my savings accounts:
Emergency Fund – Goal = $1000.00 / Current = $796.28
Car Maintenance Fund – Goal $500.00 / Current = $100.59
Regular Savings – Current = $35.65
I don’t keep much in my regular savings & the reason for that is because the interest rate is not very good. Plus I’m still trying to get my Emergency & Car Funds fully funded first. Then I would like to start an Emergency Pet Fund for any unexpected things that might happen to my dogs. Also I would like to start a Vacation Fund so that one day maybe I’ll actually be able to afford to go on a real vacation. It would be nice.
Savings
I have a few small savings accounts. They all serve different purposes. I actually need to set up another as a “Pet” fund for my dogs’ vet & other expenses. Here’s what I have so far:
Regular Savings: $85.42
Emergency Fund: $657.23
Car Funds (Insurance, Registration, & Maintenance): $184.09 – this one is soon to be $334.09 once I can transfer the $150 I set aside from my most recent paycheck
My car insurance is due at the end of this month, so I’ve been tightening other expenses in order to have enough to pay the amount in full. I like paying in full to get the discount, rather than paying extra for making partial payments. Also, then I only have to worry about it twice a year, rather than having to keep track of another bill each month. I currently have a set amount being direct deposited into my car fund. In order to avoid having this problem in the future. Actually, after doing some math, I need to increase that direct deposit.
