This blog will serve as a diary of sorts for me to track my success as I commit to saving a huge amount of money in just one year. $10,000 to be exact. Can I do it? I'm not sure until I try. But I definately can't do it if I don't try. It does seem like an intimidating goal, but I think it can be done. And it can be done by young people - single or married, kids or no kids, on government salaries or booming corporate company salaries.
My personal situation is this: I work for county government and earn a conservative salary. I'm underpaid compared to others in my career field, which is public relations, with equal job experience. My husband of almost 2 years, Ian, is a salesman, primarily boats and trailers. He works on commission and earns a very conservative hourly wage in addition to the commission. We have a mortgage payment, one vehicle payment, an orthodontist payment for Ian's braces, and a Rooms to Go credit card debt of roughly $1,800. We also have your typical monthly bills: internet/cable, water, electricity, cell phones and trash pick up. We have two credit cards that carry a zero balance from one month to the next - we pay them off monthly.
So, now that you know the bones of our family budget, you can better understand what we're working with in terms of what there is to save. There is a little fat in our budget and this year, I am determined to trim it, and store it in the savings account. Everyone's budget is different. It has to be, based on individual salaries, obligations, priorities, needs and wants. I hope that you find the majority of this blog useful to you and your family's budget. And please do understand, not every tip is for every person. Some things just simply will not and cannot apply to you. But, if you set reasonable goals, you can achieve a healthy savings account in just one year. Let's do it together!
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