Tuesday, October 25, 2016

Beefing Up on Savings

Remember when I mentioned that I had been making 2 car payments a month?  While I think that is good for us, I've decided instead to beef up our savings.  Our savings is better than it used to be but woefully short of where we need to be.  I am concerned, not overly but still concerned about the next recession.  You know one is coming, right?  I mean they are cyclical.  It really doesn't matter who is in office.  It will happen.  Now some presidents handle the situation better than others but we won't go there will we?  I'm staying out of that one.  LOL.

I have a goal to saving an additional $4000 by the end of the year.  That is $800.00 a pay check.  I hope I can do this.  Nope, I am going to do this.  We need this cushion like yesterday. 

I wish I had been more like Meg B.  Her head was screwed on right from the get go.  Me, not so much. 

The hubster has over 30 years at his job and if a recession hits, he could be one of those folks who are asked to "retire".  Just another reason I want to pay off the mortgage as early as possible.  Even when meeting my $4000 savings goal I will also overpay the mortgage to get it paid off by the end of January 2017.  That will free up a lot of money for us.

Once our savings account gets a better cushion-then I will attack the car payment again. 

image:  paydayr.com

1 comment:

  1. Lee Ann I feel you! I've worked for my company for 24 years. Just survived the 3rd merger which makes us the largest company in the US by customer base in this industry. And yesterday I literally calculated out how long I have to stay until: 1)my kids graduate colleg; 2)until I am eligible for retiree medical; 3)until I get the max pension; and 4) until I am eligible to receive retirement moneys without penalty. UGH! Way to long!

    But at least when my kids are done I won't feel so trapped and I can start making choices and that is only 2.5 years away. I can begin to see the light! Even if it is just a pinpoint!

    Yours, DeeCee

    But I get paid well, great benefits and its not a hard job, just not challenging or satisfying.