What are you saving for?
When I peeked at my e-fund and saw a balance of $17,984, I immediately thought to myself “hmm, I should save a little more so it can be an even $20,000.” Which means I would need an additional $2,016. So in a matter of seconds, I created a new goal for myself and began adjusting my payroll allotments. Until it hit me…
Single Ma, until job #1 completes your background investigation and extends a ‘firm’ offer, you might only have 3 more pay checks coming. Be careful how much you redirect to savings. You’ll need the cash flow.
and…
Single Ma, just a few months ago, $15,000 was more than enough to sustain you and BabyGirl for 6 months. What is different today?
Both thoughts are valid, but I still want to save an additional $2k. Why? I have no idea. I need to do a better job establishing a purpose for my goals. Or else, my progress will stagnate and I’ll get bored. And we all know what happens when I get bored. LOL
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SM, maybe you just do the same thing I do. I like to have nice even amounts of money…so like you said having $17,984 is WONDERFUL(great by my standards) having $20k is much better. Kwim? lol. Right now I have three different savings account. I, of course have my e-fund and then also have a Vacation savings account and a Christmas savings account.
There’s something about reaching a goal that makes me want to see just how much more I can do – especially if I meet a goal sooner than I thought I would. I wonder if maybe I set my goal too low… and then I raise the bar!
Anyway, you can save your money and still keep it relatively liquid for the amount of time that you prefer. It doesn’t have to go into a CD or retirement account straightaway…
LOL. Yes chile we know. You and your ADD!!!
Single Ma, if I remember correctly you have been at your job (the one you are leaving for less than a year). Big loss on their part, of course. I’ve been in the same position before and am planning on leaving my current job which I’ve been at for about 17 months.
I am curious as to how you market yourself to prospective employers or answer the question about why you are leaving your current position after being there for a relatively short period of time. Do they ask why you have been there for only x amount of time as well?
I’ve learned so much about myself and the workplace at my current job and I’m ready to reach out for something more…but I don’t want to look like a liability that might peace out in a year. I’m also nowhere near as high up on the totem pole as you, I’m still in the bottom feeder world but working to make it higher someday. Thanks!
My current employer has a bad reputation in the industry, so it’s expected and understood when someone is leaving. Fortunately for me, I was never asked and didn’t have to explain. However, if I were asked, I had several canned answers that focused on my career goals. Then I was going to elaborate on how I could accomplish those goals by working for the potential employer. The trick is knowing more than a little bit about the organization, understanding their mission, and – most importantly – demonstrating how your goals can benefit them. [-SM]
You just want the balance to be an even number, LOL
Yup. Even numbers = hot. When I look at my debt, I want it below $10k, then below $5k, etc… etc…
Continuing to set savings goals keeps you motivated. It’s so easy to head down a slippery slope of spending when you don’t keep you eyes on the prize.”