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Decimated my saving

November 28th, 2009 at 12:59 am

One of the reasons why I don't bother with date specific goals anymore is because I can't keep them. Something always came up to either speed up or delay the goals. Perfect example is this:



I initially planned to get a Yaris back during July. That plan was then pushed back to July of next year. Then some price and model adjustment and well, I'm now the happy owner of a Toyota Camry instead. Got it for $6k.

Title of our place was also transferred over to my name and with it came all the responsibility of an owner. I had to set aside $5k for the rent account and a monthly outflow of $1k.

Since the car cost less than I anticipated, I decided to fully funded my IRA. Which meant another $3k out of the saving account.

Earning for November is also the lowest YTD.

On the bright side, I managed to save $500 per month for both October and November.

Posted in Uncategorized | 6 Comments »

6 Responses to “Decimated my saving”

  1. Homebody Says:
    November 28th, 2009 at 02:33 am 1259375628
    1259375628

    It looks like mine! I paid $8000 a few years ago for my 1999 model.

  2. LuxLiving Says:
    November 28th, 2009 at 11:49 am 1259408985
    1259408985

    I don't necessarily do well with date specific goals either, however, like you, I do have a targeted general direction I'm heading!

    Nice looking car.

  3. campfrugal Says:
    November 28th, 2009 at 01:09 pm 1259413761
    1259413761

    Sounds like you hit goals to me. They may not be date specific, but who cares, if you got to your goal and are happy with them, that is all that matters. BTW, nice car.

  4. Apprentice Bliss Hunter Says:
    November 29th, 2009 at 01:05 pm 1259499937
    1259499937

    I've also decided to cut-back on date-specific savings goals.... I mean what's most important is that you are on the right road, going in the right direction...

    The thing about date specific goals is that when life throws a curve-ball and you miss the goal...

    you feel bad... when you shouldn't... My basic savings goal is to have more savings as each year goes by..

    Also you fully funded your IRA - which is a GOOD use of savings ! :-)

  5. Broken Arrow Says:
    November 30th, 2009 at 02:38 am 1259548724
    1259548724

    OOoh, a Camry for $6k? Congrats! I would personally love to have a Yaris hatchback.

    You know what? In a way, that's also why I don't have specific goals. I don't have a problem with motivation. Quite the opposite, I'm quite impatient. Unfortunately, reality moves slower than I would like, and often times, I end up disappointed. So, that's why I don't set specific time frames or deadlines anymore. I figure I'll get there when I get there, and I should try to enjoy the way there instead....

    I just wish I would get "there" already. Big Grin

  6. Jerry Says:
    December 4th, 2009 at 06:19 pm 1259950740
    1259950740

    I think that goals are important, but they can be longer-term (like accomplishing a school program, etc.). I find that shorter-term (easier) goals lead me closer to where I want to be... but there needs to be wiggle room. Otherwise I think that there is more insurance that you will be miserable and resent the goal, than there is that you will accomplish it! Oh, and congrats on the Camry, that will be a nice ride.
    Jerry

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