Monday, July 14, 2008

Stashing Cash for the Wedding


As debt reduction grows closer and closer and I can (again) taste being debt-free, I know I can't do it (again) because I have to save some cash.

We are cash flowing wedding expenses for now, but that's not going to work. We're going to have to write some big checks. Caterer (9K), venue (3K), photographer (?). Lots of money, cash money.

It's really hard for me to look at huge amounts of cash when I am staring at ugly account balances in red. Dave Ramsey says women need savings, that they want a cushion. Not me. I want the red gone. I'll even use all the cash in my wallet and redeem my coins for it. You bet I would cash out "savings" even if they were for the wedding.

The only way I am going to be able to achieve my wedding savings goal is to hole away some money in my ING account that I only check once a month for net worth calculations. Current balance: $32. I have a Wamu savings account, but that's too close to my Wamu checking. I also have a Fidelity money market account, but that's too close to Fidelity bill pay. So, ING it is. It's out of sight, it's fairly hard to get to, and I won't feel tempted to pay off debt from it. Well, I'll feel tempted, but I am not going to.

I'm going to put in $500/paycheck for now. I'll have to think of a number that is a goal so I can track the progress. I've never really had a savings goal before, only a debt goal. It will be really hard for me to have both at the same time. Really hard.

1 comments:

brainiac said...

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