I'm tossing around the idea of challenging myself to have saved $200,000 by the end of January. I get a bonus mid-January, or I would have preferred the round 1/1/17 end date, of course. :-) I also want to have a maxed out 401K (important given my employer match & plans to change roles), and save $20K for our taxes (not included in the $200K).
I'm currently at $183,216. Do I think I can save $16,784 in just over 4 months? We are also coming up on Christmas, and have a vacation in Hawaii scheduled for Thanksgiving. It's going to be tight, but I want to set the goal! I think I can do it. Funds up for grabs will include:
- Anything leftover from my bonus (although, after tax deductions, my 401K, and then my $20K saved for our 2016 federal taxes, I highly doubt there will be anything left).
- Stock vests (I get them monthly), minus taxes.
- Anything leftover from our standard monthly budget
Having this goal should give me a lot of motivation to cut down on our spending, stay on track for Christmas & our trips, & look for additional ways to cut the budget.
I'm excited! I like big goals. What about you? Do you have any big goals you are working towards? I'm already 91% of the way to my goal, so this is about focusing on that last mile!