After reaching two major financial achievements in the past year — buying our first house and paying off all credit card debt — it’s a great feeling to be able to focus wholly on other financial and savings goals. The first goal goes without saying, and the others, listed in order of importance, are being accomplished in various sub-accounts with ING Orange Savings, a most excellent cash savings vehicle currently paying 2.80% interest — up from 2.60% just this morning (no fees, no minimums, and $25 free when you have me refer you):
- Emergency Fund
- Annual Insurance Escrow (not terribly exciting, but a must-do)
Another goal I should probably add to the list and begin saving for monthly is Next Car Purchase. Although I bought my WRX new, I won’t do that again. And, ideally, I won’t have to finance my next car purchase. The WRX is in great mechanical shape and, with only about 54,000 miles on it, should last us a good number of years. Hopefully when the time comes to buy another car, we’ll have enough saved up to do so sans financing.
Even though we currently don’t have any kids, we hope to some day. When that time comes, Saving for College (529) will surely become a high goal on the list.
What are your savings goals?