Tuesday, January 02, 2007

The Fourth Financial New Year's Resolution

1. Give 5% of my income.
2. Open a Roth and automate contributions.
3. Earn the full employer match in my 401(k).

My fourth financial New Year's resolution is to start and automate contributions to a travel fund. I hope to get the chance to visit friends in Amsterdam in October or thereabouts, and I continue to look forward to realizing my two cherished travel goals (Trans-Mongolian Railway and North Africa) in the near future. None of this is cheap. The immediate goal is the Trans-Mongolian Railway trip; Amsterdam is kind of optional (and, secretly, I'm hoping that the plane ticket will be a birthday present) and North Africa is a longer-term goal. I wish I could say that I can save $5,000 this year towards this goal, but that's clearly impossible. A more manageable goal is to save $2,000, or $80 per paycheck. That means that if I wanted to take this trip at the end of this year, I'd need to use money above and beyond this savings account. Cross that bridge when I come to it--it's most important to me to set a manageable and constructive goal.

4. Establish and automate contributions to travel fund with savings goal of $2,000.


ableknife said...

Travel is wonderful. Definitely something to save for. I've been reading a book called Women, Get Answers About Your Money by Carolyn Castleberry, which has been a great resource for learning about different ways to save, and various other money matters. It may be a great resource for you. cheers.

baoerji said...

wow gold
wow gold
eve isk
wow power leveling
wow power leveling
wow power leveling
wow power leveling
warhammer gold
warhammer power leveling
bestchina traveland
UGG Mini
UGG Sundance
Tiffany Accessories