I already have an ING account where I have the bulk of my savings. With Christmas coming and going and having extra expenses that I didn't really account for, I am going to be more careful to save for next year.
I opened two accounts for a "Vacation Account" and a "Gift Account".

As I mentioned in a previous blog, I would really love for my fiance and I to take a nice trip every 2 years or so. Heck, maybe even more often than that. I rigged my ING account so that it will transfer $50 a pay into this account just for vacation savings.

I also opened up a "Gift Account". Starting next year, I would really love to be able to send my siblings and nieces and nephews gift cards on their birthdays. This saved money can also go towards Christmas.

I find that putting money directly into my ING account helps me a lot - because I don't even really see it in my paycheck. My spending money goes into my bank of america account and the rest (savings) goes to the ing account. I just hope I can keep up with saving that extra amount each month...I might have to tweak this amount to make sure I have enough for groceries and other necessities. Either way, I am happy that I am committing to saving a bit more!

Here's the background info:

My fiance has a year of law school left and will be graduating in May 2009. We are getting married in Sept. 2009. We need to save about $9,000 for the wedding...my dad is paying for the rest (thank you, Dad).

My primary motivation is to save for our house. My dad would like us to stay with him for two years after we are married and then buy a house - when we are more financially secure.

This is my house savings plan:


Salary/Date/Projected Savings

$42,298 July 1st 2008 $2,735
$42,298 August 1st 2008 $3,535
$42,298 September 1st 2008 $4,335
$48,696 October 1st 2008 $5,135
$48,696 November 1st 2008 $7,135
$48,696 December 1st 2008 $9,135
$48,696 January 2nd 2009 $11,135
$50,298 February 1st 2009 $13,135
$50,298 March 1st 2009 $15,135
$50,298 April 1st 2009 $17,135
$50,298 May 1st 2009 $19,135
$50,298 June 1st 2009 $21,135
$50,298 July 1st 2009 $23,135
$50,298 August 1st 2009 $25,135
$50,298 September 1st 2009 $27,135
$57,725 October 1st 2009 $29,135
$57,725 November 1st 2009 $31,135
$57,725 December 1st 2009 $33,135
$57,725 January 1st 2010 $35,135
$57,725 February 1st 2010 $38,135
$57,725 March 1st 2010 $41,135
$57,725 April 1st 2010 $44,135
$57,725 May 1st 2010 $47,135
$57,725 June 1st 2010 $50,135
$57,725 July 1st 2010 $53,135
$57,725 August 1st 2010 $56,135
$57,725 September 1st 2010 $59,135
$67,232 October 1st 2010 $62,135
$67,232 November 1st 2010 $65,135
$67,232 December 1st 2010 $68,135
$67,232 January 1st 2011 $71,135
$67,232 February 1st 2011 $74,135
$67,232 March 1st 2011 $77,135
$67,232 April 1st 2011 $80,135
$67,232 May 1st 2011 $83,135
$67,232 June 1st 2011 $86,135
$67,232 July 1st 2011 $89,135
$67,232 August 1st 2011 $92,135
$67,232 September 1st 2011 $95,135
$75,849 October 1st 2011 $98,135
$75,849 November 1st 2011 $101,135
$75,849 December 1st 2011 $104,135



If we follow this plan...I think we will be sitting pretty by the time we are ready to buy our first home. I am thinking that we will be looking in the $300,000 range. That could hopefully get us not only our first home...but our forever home!