Mar 06 2011

Savings goal updates

Some of you shared with me that you missed my savings progress bar on my blog’s homepage. Aw,  thanks for your support! I tinkered around with the widget and was able to restore it to the sidebar.

We have two primary savings goals right now, and those are reflected in the status bar (second vehicle and house down payment).

We think sometime in the future we’ll be moving closer to family. If that comes to fruition, we’ll probably need to buy a second vehicle, since the areas we’re considering aren’t known for their great public transit.

The likely order of events will be to move to a rental apartment/house, buy a van, buy a house. Or we might buy a van shortly before we move. Whatever happens. But the vehicle will most likely need to happen before the house.

I think I have an idea of what we’d like to pay for a van — something that ought to last us a decade if we take care of it, but nothing too expensive. Tall order, right?

If we can come in under budget, then that’s all the more money we can put toward the house. If we find that we can’t find a van for that price and need to spend a little more, then that comes from the house fund, and we’ll just save for a little longer or lower our house price range.

To me, it makes the most sense to glob these two savings goals together since they do go hand-in-hand.

Of course, the dollar amount goes way up and it makes it bigger and scarier, and my progress bar moves slower that way. But whaddya do.

If all goes right, I think we can have 100% in the fund by this time next year.

We aren’t going gazelle-intense with it. We’re not throwing every spare dollar toward savings. We don’t *need* a van or a house right now, and we want to be able to buy things or experiences if we wanna.

But at the same time, we want to be able to have the money available to do with what we want when we’re ready to act, so we’re going to sock away as much as we can without feeling pinched.


k what are you saving for or paying off? Good luck!

8 Responses to “Savings goal updates”

  1. I just wrote a post about this. We are still trying to pay off our van loan. While also saving for a furnace, tooth implant and vacation. We had a bunch of little things we were saving for as well and have met most of those goals, so now on to the big ones. Ugh!

  2. Exciting! I need to do a progress bar too. Our big goal right now is the foundation – $11,000. We’re hoping to intensely save for that, but I’m having trouble motivating myself to get on the gazelle. Next on the list is the kitchen & bathroom, assuming we don’t have any other major repairs in the meantime. Of course, we’re going to need a new car at some point too… I’m not sure where to put that, but hopefully Corrie will hold out long enough that we can save up for a decent van. :-)

  3. We don’t have many savings goals right now. We are always trying to put extra money into our retirement fund and save money to help our kids with college expenses. Right now the only debt we have is our house which will be paid off in 4 years. Eleven years ago we refinanced and got a 15 year loan. Our mortgage payments are larger but we are saving on the interest.
    Good luck with your goals. Your website helps keep me focused on my spending.

  4. Glad to see your piggy bank back in action! Whenever I see the progress others are making on their savings goals or on their debt payoff goals, it always renews my motivation for my own goals. So thanks, lol!

    Right now Hubby and I are working on paying off credit card debt. So that’s our main goal and where most of our extra money goes each month. We’re also working on savings… just a small amount of money each week to eventually have an emergency fund in place.
    Mary @ Tips&Treaures´s last post ..My super great Netflix deal

  5. Hi Kacie,

    We are working towards saving 15% of our income. Our first 2011 goal was to save for a new (used) car. We’ve met that goal but haven’t found a suitable car. We’ve decided to just bank the money in the meantime. We are also saving up for a blog conference in October.´s last post ..Movie Night at Relevant11- 12 for 4 Movie Tickets- Sodas & Popcorn!!

  6. Good luck with your goals, everyone! I know it can be frustrating to have several goals to meet at once, or to have a really large dollar target. Hang in there though, because you’ll get there and it’ll be worth it!

  7. We’re saving up for baby #3, even though I’m not currently pregnant. Neither of our vehicles will hold 3 carseats/boosters, and our 4WD vehicle (a necessity just to get up our driveway in the snow) is now 12 years old. Ideally, we’d like a used hybrid SUV. It may take some looking to find one, so we’d like to have the money set aside sooner so we don’t have to scramble at the last minute. We’ll also start a college fund for #3 with the same amount we put in accounts for our 2 current children We’re about 1/3 of the way there on both goals after 9 months.

  8. For a house, even though we’re not looking to move right away. We have some money for a down payment/closing costs saved (about 10000 right now), but since only my husband is working we wouldn’t be able to afford a large mortgage. Therefore, the more money down, the less we have to pay later!
    the birth bug´s last post ..Middle Ground on the Birth Place Debate

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Hey! I'm Kacie, wife to Shane and mother to Jonathan (7), Vivienne (5) and Amelia (2) . I write about my family's finance: how we save money, improve our spending, and plan for the future.

I hope I can inspire and encourage you to improve your situation. See disclosure.

I'm adopting a much slower-paced posting schedule, and treating this as a hobby blog now.

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