(Closed) What are your savings goals?

posted 7 years ago in Money
Post # 2
Member
2569 posts
Sugar bee

My student loans are kicking me in the butt. anytime i think of retiring or saving i get depressed. Lucky i have a low income based repayment plan and i am hoping to take the loan to the grave with me lol

other then that i don’t save righr now. I am paying my car off and saving for the wedding. After all that i want to stash a good amount of money away each check. I plan on quiting in like 3 years to move with my Fiance to California and have money saved so i am not living off of small checks. He has a job but i don’t want to ask him for stuff.  It’s hard going from independent to being married and taking a lower paying job i  another state.

 

Post # 3
Member
525 posts
Busy bee
  • Wedding: September 2014 - SPRING VALLEY COUNTRY CLUB

I am 31 and currently my goal along with my husband is to save a lil over 30,000 this year to but a down payment on a house.

I am also saving for my son’s college fund. This is an on going goal.

 

Post # 4
Member
242 posts
Helper bee

I am 23, turning 24 in a month. I’m primarily saving for a car at the moment, and our secondary savings account is for a house (which is mainly contributions from my SO at the moment, until that care is bought!).

I think that my goals go in order of what I need the soonest. Note that that’s need, not want! So we’ll be going car, then house, then wedding, and we’ll go from there!

Post # 5
Member
525 posts
Busy bee
  • Wedding: September 2016

I have my car paid off and right now I am saving for a down payment on a house that we will get hopefully next year! I went to a small college so I thankful to not have student loans! 🙂 

  • This reply was modified 6 years, 10 months ago by hollysmith92.
  • This reply was modified 6 years, 10 months ago by hollysmith92.
Post # 6
Member
43 posts
Newbee
  • Wedding: June 2016

I’m 22 and hold 2 savings accounts.

One is my own personal savings, which I use to budget at least $400 into each month. Now, having a wedding coming in June 2016, I have opened up a second savings and am putting $300 into that each month (fiance will be contributing the same), and I am still setting aside a min of $100 a month into my personal savings.

After the wedding, we will use the savings account we are using for the wedding, for a house.

One thing nice about that, is the fact that he currently already owns 1/3rd of a house in another city that he bought about 7-8 years ago with his best friend. So, in addition to our savings, he is going to put the money he gets back from that into our house too.

Post # 7
Member
12326 posts
Sugar Beekeeper
  • Wedding: June 2011

We’re in our 30’s now but our goals has always been the same.  1. Max out 401k.  2. Max out Roth IRA. 3. $500/month to emergency savings.  Then additional into investment account and lastly general savings for things like major housework, vacations, car, etc.  Our goal has always been to be able to retire live off investment accounts by 45, until we can start withdrawing from retirement accuonts.

Post # 9
Member
551 posts
Busy bee
  • Wedding: June 2015

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stokesto:  Im 26 and Fiance is 26 as well. Together our goals are: 6 month Emergency fund $25,000/ Regular Savings:$25,000/ House Down Payment Savings: $35,000. As far as retirement goes, both of our jobs match a certain percentage in our 401k plans…but we havent dug really deep into that just yet.

The wedding is KILLING our plans, which is a little depressing. But we should have half of the emergency fund and all of the house down payment by February 2016. We decided to put everything into a money market that we cant get into until then. Which is great. We dont even get tempted to touch what we cant spend. We have the same amount directly deposited there every month, so what we see in our actual bank accounts is what we can use.

                  

                     

Post # 11
Member
3170 posts
Sugar bee

View original reply
stokesto:  SO and I are 26 and 27. We are (1) aiming to pay off his student loans by the end of 2016 (he has a little over $100,000 left to pay off, but we have a high HHI, so it should be doable); (2) each maxing out our 401ks every year; (3) saving at least $50,000 a year between the two of us on top of that. We want to pay off his loans aggressively and save a lot because I will probably shift to a lower-paying job in a couple years before we start a family (my hours right now are too crazy to be a good mom, IMO), and we want to be financially prepared.

Post # 12
Member
926 posts
Busy bee
  • Wedding: December 2014

My DH and I just got married last month.  Up until before we bought our home we had 20K+ in savings.  Well all of that is gone now.  Depressing thinking about it but we have our home now with very comfortable monthly payments.  I am 29 and my DH is 31 so now we are just wanting to save up for our future kids and retirement.

Post # 13
Member
551 posts
Busy bee
  • Wedding: June 2015

View original reply
stokesto:  it is boring. But watching any kind of savings grow ican be ridiculously gratifying. So when I when I get sad about it I just log in and smile, hahaha. 

Post # 14
Member
551 posts
Busy bee
  • Wedding: June 2015

View original reply
FantasticFawn:  50k a year in savings is such a great goal! Love that!

Post # 15
Member
858 posts
Busy bee
  • Wedding: May 2015

Fiance is nearly 24, and I just turned 26.  Fiance and I both only have temporary jobs that are done March 31 AND a wedding to pay off in exactly 4 months (yay…), so there’s no such thing as savings right now.

When that’s over, this year I want to open my own business and stop working for other people since I despise it.  We are not looking to buy a house in the near future because simply put, I don’t know where I want to end up.  I love travelling, and may never buy a house. 

My personal goal is to start a RRSP/TFSA this year (I actually started one last week but contribute to it).  I want to put $1,000 in it by the end of the year, and up it by $1,000 each year.

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