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Savings Update = $1,600

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Instead of holding onto the monthly amount for our health insurance in our checking account (it’s paid every two months and next due in April), I decided to stick it in our savings account and let it collect a little bit of interest and maybe it can end up staying there since I will do my best to pay our next health insurance payment without it. That amounted to $350. I added $153 dollars more to make our savings balance an even $1,600.

Only $900 more to go to reach our goal! I think we *might* be able to do it by the end of the month since my husband received a raise at his temporary job. That’s extra money I am not counting on with trying to predict our cash flow. I also do not count any blog income, and I should be receiving a few hundred dollars near the end of the month.

I really want to hit our savings goal so I can continue aggressively paying down our debt. I miss seeing the credit card debt numbers go down. I want to hit the $20,000 magic number 🙂


6 Comments

  • Reply Steven |

    Congratulations! I also know how difficult it is to both save and pay off debt. Good luck!

  • Reply CC |

    Congrats on the milestone! I agree with Steven, and I also know how frustrating saving and simultaneous debt payoff can be. I’ve had to force myself to do one or the other, but I commend you for making it work! Keep plugging away!

  • Reply Chris |

    Out of curiosity, where is your savings account? Is it in with low-interest commercial bank or a high-interest online account (such as ING and others). ING is currently offering savings accounts with no minimums at 4.5%.

So, what do you think ?