Savings Challenge September

Woohoo! I'm ready to start saving again. Last month I made sure all my accounts were organized and labelled appropriately. I also set up an ASP (automated savings plan) with ING for the next 6 months to earn me a nice $25 bonus. Now I'm ready to watch those numbers grow.

Ok So here is what my savings accounts look like right now : (try not to cringe)

Travel Fund : $50.76

BF and I love to travel. I would like to do some small trips in the next year and want to have some money put aside. I also will use this fund to fly home to BC a few times a year :)

Wedding Fund : $50.14

One day its going to happen so I'm starting my savings now. Since I would like to be married by spring 2014 I'd better get started.

Furniture Fund : $130.37

Getting rid of all your furniture and moving across Canada means you can buy new stuff. I'm a very frugal girl though so we are buying slowly to make sure we get the best deals. Also we are only buying things we need because we are hoping to buy a house in the next 2 years and thats when we will buy more because it will be to fit our home.

House Fund : $150.17

In the next 2 years BF and I would like to buy our own place. We are deciding between two things right now. One is buying the building we are living in right now. Its a 4plex owned by BF's parents. More on this later. The second is buying a house in our dream location Rawdon, Quebec. We are just in the savings process right now. I'll write about this more in detail another time.

TFSA : $2.68  (EFUND)

I totally emptied out this baby with my move and the removal of my wisdom teeth. It was a big safety net for me when BF and I lived apart for 6 months. While I still feel its important I am not as stressed about it as I was before. I don't have a specific goal in mind for what I would like to have in this account to feel secure so for now I'll just add to to it as I see fit.

RRSP

I also have some RRSP savings from my last job. Once I confirm those numbers I'll add them to the next savings update :) It will be one of my goals this month to get this money moved to another bank as I can't keep it where it is currently due to not being an employee anymore.

Septembers Savings Goal

Well I'm not sure how much money is going to be coming in because I am waiting on a few reimbursements and such so I'm going to set this up a little differently then I usually do. Here are my rules for myself:

1. Save 50% of regular income. Right now this is $1240 monthly. So from this I would like to save $620 which I will do in 2 shots.
2. Remember to also set aside $100 for ASP at the end of the month. My ASP is set to deposit into the "house fund".
3. Save 50% of all bonus money that comes in. Just this morning I found a cheque from my previous employer that I forgot to deposit. Half of that will go into savings. I am also hoping to get my PBX cheque (if they ever send it to the correct address). Anything extra or bonus is subject to a savings cut.

That's my plan and do you want to know what my ultimate goal for this month is?

SAVE $1000 DURING THE MONTH OF SEPTEMBER !!!

I know.. it's a lot. There aren't a lot of times that I would be able to do this but I have all my ducks in a row right now and not a lot of expenses. We are being very careful with our money right now and have a lot of things to save up for. I'm really hoping things go my way and I can reach this HUGE goal.

I have not decided how I'm going to allot this money to the different accounts I have. I'm just going to arrange it as I think is best at the time I deposit the money :)

Wish me luck and diligence!!

This post is inspired by Carla's September Savings Challenge. Check out the other bloggers committed to big savings this month :)