The race is on. With only 5 months left to the end of 2012 (wow) and my goal to exceed $200k in networth AND buy a new (used) car this year, I must watch my budget closely to get close to my goal. I always want to go *over* my networth goal (helps me hit next years goal and makes me feel comfortable that I can survive a few months if something, god forbid, happens to my job.)
Current Networth: $192,431 (remaining to save $7569 + $10k for 2013 cushion)
$3513 per month average savings is required to meet my goal.
AUGUST 2012
Expected Liquid Income: $4200
401k Automatic Contribution: $2080
$1433 Avg monthly savings required from Liquid Income.
Rent: $660
Shopping: $575
Health & Fitness: $452 (Yr Supply contacts)
Fees & Charges: $50
Auto & Transport: $777 (paid off $600 of my $1800 DUI fine this month, plus insurance hike from $44/month to $125/month for next 3 years, sigh)
Food & Dining: $269
Travel $300
=====================
$3083 ($1117)
So I already spent too much this month to hit the $210k goal. If I buy a car, my goals might be shot. Then again, I could theoretically make up for this next year, as it will be my first full year with a six-figure salary, and I can try to be frugal for the first six months to play catch up. I never like to assume I will have a job from one month to the next, though, so it’s troubling to purchase a car now and know this will keep me from my $200k goal (unless the stock market performs extremely well…)
Be patience then you get your success of any kind of work. You doing your work and save money day by day. I hope you will buy a new car. Thanks for your awesome sharing.
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