I got started playing around with the numbers tonight in YNAB. I was kind of bored and decided I wanted to figure out approximately when I'd actually be able to reach some of my financial goals.
Making some assumptions:
1. That my pay will stay the same through the end of 2009 (most likely scenario)
2. That I'll still be working at the same place through the end of 2009
3. That I won't have any big major unexpected expenses through the end of 2009
4. That my rent in 2009 will only go up by $10 (like it is this year.)
5. Also assuming that there will be no change in marital status for me.
Keeping those assumptions in mind:
1. My 6 month Emergency Fund (take home pay - savings amounts *6) will be fully funded by March 08.
2. My Car Replacement Fund of $4,000.00 will be fully funded by Nov 08.
3. By Dec 09, I should have close to $6,000.00 in my House Downpayment fund.
-- So, that means that by Dec 2011 and my 35th birthday, I might just have my $18k for a downpayment. LOL! Of course, the big question then will be if I can even find a house in the 80 - 90k range by then!
This will be accomplished by putting 100% of all 7 "extra" paychecks into savings, as well as the $600.00 "rebate", as well as both Christmas bonuses, along with my normal monthly savings amount.
#2 *could* be accomplished a little bit earlier depending on how much money I am able to shave off from other areas in my budget.
This month, there will be no extra whatsoever thanks to my tooth woes. However, that hopefully will not be true of every month.
Playing with the numbers - YNAB
February 17th, 2008 at 06:31 am
February 17th, 2008 at 12:00 pm 1203249639
February 18th, 2008 at 12:27 am 1203294476
February 18th, 2008 at 01:56 pm 1203342974
Wow, that is great to have goals and a timeplan. I'm new to blogging and money tracking. I was really motivated in jan (where did my zest and zeal go?) and I need to have some concrete short-term goals after sitting down and looking at feb (which is out the window I am afraid)
February 18th, 2008 at 03:22 pm 1203348137