Finally Automating my Savings!
I think I’ve finally got my savings automated. It’s taken me long enough, I know, and I am so pleased. I have been putting 40% of my paycheck into our main savings each month, and this morning I switched it up a little. I decided that I would start a couple new ING accounts: one for vacation fund, and one for the “Freestyle Fund”. The vacation fund included money left over from our Indy trip that I had previously set aside, and the Freestyle fund included all money over the amount that I felt was a good amount for an emergency fund.
Next month we’re planning on taking a vacation to Colorado, and we’re driving out there. We’ll save money on boarding the dogs and airfare but it will take us about 17 hours. I think this trip will be very good for us. It may help clarify things for us and it will be nice to see Mr. Money’s family too.
I decided that I’d feel safer if I kept all the money I was going to be paying towards debt in a specific savings account. That way in case we have a real emergency we could use that. My only doubt is that I think we’ve got enough saved in an emergency fund and should I keep contributing to that, or stop saving for the emergency fund and put it all towards the car.
This took me a few hours this morning but I think it’ll save me a lot of time and headache later! What do you think: should I keep saving in my emergency fund, or just put all extra money towards the car?