I can’t remember if I’ve written about this or not, but every month on the first payday (last Friday), Bird and I set aside our monthly savings.
- $500 to the Down Payment Fund
- $300 to the Grad School Fund
- $200 to the Car (Replacement) Fund
- $100 to the General Savings Fund
- $100 to the Travel Fund
- $100 to the Vanguard Investment Fund
Based on these amounts, we’re saving a little over 20% of our income every month.
Any budgetary leftovers at the end of the month get thrown into one of these categories as well (usually travel)!
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{ 4 comments… read them below or add one }
Nice! Those are awesome amounts. I so wish I was a DINK!
Looks pretty solid. Are you actively looking at houses, or are you waiting till you have a target amount?
A little bit of both. In an ideal world, we’d love to save up 50k, but if the right thing comes along before then…we’re willing to jump on it.
Of course, we also have to figure in the selling of our current house and that’s where everything gets a little more complicated.
You are doing great!