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Added to savings

February 27th, 2009 at 02:01 pm

My automated biweekly savings deposit of $25 hit. I'm putting this into the baby/EF, bringing it to $2,358.46. Almost a quarter of the way toward our overall goal!

I realized today that once I pay off NT's UK credit card, I can start saving all the extra rental income in his UK savings account and count that toward the EF/baby goal. It's perfect, because we can get to it within a couple of days, but it's not so easily accessible that we'll be tempted to dip into it. Since my 2:1 savings ratio is a bit off (but I want to be consistent across all my record-keeping), I'm going to make my goal $11,000 instead of $10,000, and that should handle any shortfall from my outdated exchange rate calculations.

What that means is that soon, extra funds will be freed up in our U.S. account for saving toward a modest fall vacation and for paying off debt a little faster.

6 Responses to “Added to savings”

  1. whitestripe Says:

    i'll probably get bashed for saying this (figuratively) but i think sometimes a vacation is nice. of course its better to pay off debt, but i think sometimes a vacation puts things into perspective too. so you realise what you're striving towards.

  2. momsents Says:


    Vacation ranks right up there with depleting debt - probably higher. We saved for over a year to make it to Disney last May/June and the kids are still talking about it. This July we're taking a train to NYC, visiting xSIL and doing three days in Manhattan, then five days in the Hudson Valley. In these busy times, I love that we can get away and conncect and see new things, and most of all, make nice memories for our kids. Have a lovely vacation to Vegas. Where are you thinking for your fall travels?

  3. ceejay74 Says:

    I'm with you guys--we try very hard to have two 10-day vacations per year. Even that seems stingy to NT, who is used to 4-6 weeks of vacation time minimum.

    momsents, for the fall vacation, in flusher times (when we had three full incomes) we were thinking about NYC, but now that we've had to cut back on repaying debt and are saving for a baby fund, we'll probably do a partially at-home vacation, with day or several-day trips to places in Minnesota and Wisconsin. I like Madison a lot, and it's always fun to rent a cabin for a day or two and have bonfires and cookouts near a lake! Plus there are amusement parks and water parks all over, and probably a few more cool little towns or cities like Madison that we haven't explored yet. We could even go to Chicago for a day or two--airfare is usually affordable from Minneapolis, and we have a friend who might let us crash with him.

    Of course, if our fortunes turn on a dime again, we'll go back to the NYC idea--AS and I love the city, we have several friends there, my college is nearby, and plus NT really wants to see the Big Apple someday. But I do want to wait till we have money to burn, so we can do it in style! Smile

  4. LuxLiving Says:

    Love me some travel!!!

    I say go for it if you can do it while still meeting your debt repayment goals.

  5. Amber Says:

    Good for you, I have automatic weekly deposits to my house fund...the best thing I could have done. I agree it's ok to treat your self some times just don't go over board

  6. frugaltexan75 Says:

    Ceejay,

    I used to live in Madison - from the time I was 2 1/2 till I was 5. Lots of great memories. Smile

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