Layout:
Home > Clarifying savings

Clarifying savings

May 18th, 2009 at 10:21 am

Just to clarify my previous post ... I have emergency savings that I hope to never, ever touch until my daughter finishes her studies and is ready to get married. Then the emer. savings will pay for her wedding and other things beyond. That money is "sacred" and I wouldn't dream of touching it.

Another type of fund I have is like a self-funded line of credit. I use it to pay for things that are not part of regular monthly spending ... such as water/electricity bills, vacations, etc. I continuously replenish that fund to have a $2-3k balance.

The thing I have trouble with is saving long term aside from those two funds, to be able to have extra cash on hand when I retire. Maybe to use for vacations or just to have extra spending money. I just can't seem to keep my hands off it when it starts to grow.

0 Responses to “Clarifying savings”

Leave a Reply

(Note: If you were logged in, we could automatically fill in these fields for you.)
*
Will not be published.
   

* Please spell out the number 4.  [ Why? ]

vB Code: You can use these tags: [b] [i] [u] [url] [email]