What a DHSI Saves

[This budget was developed before Sunday and Monday‘s situations, so of course it’ll have to change to accommodate the new developments. But I worked hard on it, so this series is going up anyway!]

Long term Savings Goals

Emergency Fund: Doesn’t need too much work. I’d like to ratchet this up to $40,000 by next year so that I can roll $20,000 into any decent interest-bearing, mid-term CDs.

Expense Account: It’s less than half its former glory. Let’s take it back up to $10,000.

Taxes:  If I earn enough freelance income this year, taking no exemptions throughout the year may not cover my 2010 tax liability. If that starts to look iffy, I will restart this savings account and put away 30% of all freelance invoices.
[TBD] 


Auto Maintenance:  Credit card rewards alone won’t be enough to cover this category of expenses. I should have at least $1000/car per year.
[Annual Need: $2,000]

Insurance: Car insurance costs $1200/6 months for two cars.  I’ll be canceling my current -very costly- private life insurance because my employer-sponsored version has become active at $9/month and “save” $41/month. Renter’s insurance is another $500/year.
[Annual Need: $2,900; current policies are paid through to October or this time next year]

Travel: Oh for an endless travel fund! Realistically, I should save for the two trips I’ve already committed to (San Diego and going home for a graduation).  And maybe two more trips back home this year.
[Need: $2,000; have some travel credit on hand already]

Clothing: I must have a budget for 2011. The budget strings will simply be too tight for me to steal a little bit here and a little there from the Expense fund like I used to do (shhh!).
[Need: TBD]