Frugal Village Forums banner

2009 Savings Challenge

9K views 75 replies 26 participants last post by  mauimagic 
#1 ·
We have big savings goals for the upcoming year. I thought it would help motivate me if I were to be accountable to frugal village and this thread. here are our goals!

Replace our roof. We currently have $1775 saved for it. We will do it ourselves with the help of my dad and brother. I want to have $3000 saved for it.

Go to the beach. We already have a deposit down on the house. We are going in with my whole family. We need to save $2000 to cover the rest of the house and our expenses before August. I currently have $50.74 saved.

Save $10,000 towards a new car. My van is 8 years old and while we have repaired a lot of stuff on it, including a transmission, there are a lot of little things broken on it. It is obvious that it won't last much longer. We want it to last at least 2 more years. But this year we want to save $10,000 to help cover the cost to replace it. Right now we have $260.77 towards it.

So how am I going to meet these goals? Basically extra income. We have very little wiggle room in our regular budget, especially during the winter with high heating bills. So we will be saving all the extra stuff we get paid for. I make some money online through ad clicks on my blog and articles I write for various sites. I am hoping that this income will continue to grow throughout the year.

Dh makes a lot of extra money through out the year. He coaches, gets a bonus for being nationally board certified, grades papers for the IB program, etc. These are large chunks of money that most of our goals will be met with. We should also get a tax refund that will help.

So there you have it! I am going to put all this in my signature and update as I add to our savings. Thanks for the support and encouragement that I always get here at Frugal Village.
 
See less See more
#2 ·
I'd like to join in on this challenge.

Here are my savings goals for 2009:

1. Save $10,000 to fully fund two Roth IRA's.
2. Save up an emergency fund of $6,000.

How I plan to save this money:

1. Earn more money at my side job.
2. Have husband work all the overtime he is offered.
3. Put all or almost all of our year end bonuses toward these goals.
4. Try to sell as many items as possible and save the money.
5. Start doing surveys online.
 
#3 ·
This is one I'm really interested in.

We want to save $5,000.00 because we'd like to move within the next year or so.

How I'm going to do it.

~I have a challenge going that I won't pay full price for anything this year if at all possible
~I'll be using coupons whe n possible
~we won't be eating out

And we will become even more frugal in all areas.
 
#6 ·
I'll join this one.

I want to save $600 for Christmas and have all shopping done by Halloween.

I want to save $3000 for a down payment on a car, buying in May/June.

I want to build my BEF to $1000.
 
#7 ·
I'll join in too. I need to save up $6000 EF (roughly 3 months of bills less childcare), $600 for christmas and as much as I can for a new car

I'll post these in my siggy
 
#9 ·
We're finally committing to really saving for a new car. We've found $25 in the budget each month, and we're using half of our combined Christmas cash to get a head start. Its not a lot, but its a beginning!
 
#10 ·
I am going to shoot for $10,000.00, hopefully by the end of August, so we can pay for our 3 kids' private school tuition in one lump sum. Right now we are paying $986 per month over a ten month period. It would be nice to put that money instead (plus some) into savings each month. Hopefully our 2008 tax return will get us started.
 
#12 ·
Wow, I couldn't find this thread for awhile. Anyway I had an extra $100 in our pay period and put it towards the new car. I was a little unsure what I should do with extra money in our regular paycheck since we were thinking we would just put all extra money towards our savings goal. I couldn't decide if I wanted to just stick it in our regular EF, which is NOT fully funded or put it towards the new car. I decided in the end for the new car. What do y'all think? Should I move it? I will update my signature.
 
#14 ·
January savings goal: $500
2009 savings goal: 15,000
 
#15 ·
I'm finally getting my deposit back from the landlord I rented from before getting married. I'll get $225 back. Putting 25 on our small goal savings (a WiiFit for me OR a new desk for DH...depends on what happens on The Office this semester...hehe), 100 on the car fund, and 100 on my student loans. Yay!
 
#17 ·
I'm in too. We need to save $2500. That will cover house and car insurance and property taxes for this year. I need to have about half of it by July and the other half by October.
 
#20 ·
I added another $150 today to our beach account. This is payment from articles written in December.

Change of plans though, our roof seems to be going fast. We have a couple of major leaks. We are rethinking us doing it ourselves. My dad and brother were going to come out, but my dad is in his 60's, my brother has a herniated disc in his neck and my dh has reinjured his shoulder. I am thinking it isn't such a good idea for these 3 men to redo our roof. Which means we now need to come up with $6000 (to pay someone else to do it) instead of $3000, yikes! I am going to leave our original $10,000 for a new car goal, but I am seriously wondering if we would be able to make that at this point. I can only try though right?
 
#22 ·
I'm in! I would like to save up $10,000 by June to buy a different truck. We bought a travel trailer last year and although our truck can pull it, it's hard on the truck. Of course, we will sell our current truck to help fund buying a different one...so I can probably get away with saving $8500 for the new truck.
 
#23 ·
I'm in for this one too! It will help me formulate a concrete savings plan this year. Here's what we need:

$5,000 into the EF to bring us to $15,000

$3,000 to cover monthly expenses during DH's unpaid 5 weeks of annual leave (coming up in May)

$4000 to pay for plane tickets to move DS and me to the other side of the planet with DH. (We will go from the UK, to the US for annual leave, to South America for his job. DH's travel is paid by his employer, but we have to pay for me and DS.)

$10,000 into retirement/investments

$8,000 for the purchase of a new used car in 2010

And, in the "just dreaming" category, if we manage to top $30,000 in savings for the year, the extra will go into a fund for some home improvements we need to do in the future.
 
This is an older thread, you may not receive a response, and could be reviving an old thread. Please consider creating a new thread.
Top