by Hope
I have had several commentors ask about savings goals. Right now my focus is on getting 100% completely out of debt. I agree that having a 6 months cushion would be ideal. And will definitely be a goal…after I am debt free!
So for now, my savings is going to continue as follows:
- $500 into 3 separate investments account monthly. One of those being a ROTH account. There is currently approx $1,600 in these three accounts combined. I have just increased it from $70 per week to $500 per month this month. This is all kept in my STASH account which has had mixed feedback from BAD readers, but I have to say, it’s made investing and savings so easy for me. And I thoroughly enjoy checking in on my investments and reading up on advice about once a month. Otherwise, I just let it run.
- $750 into a savings account – this is technically my emergency fund account. I plan to increase this month deposit at the end of the year or early next year depending on getting all my remaining credit cards paid off this year.
- $500 into a separate savings account – earmarked for travel. This is separate and specifically a focus due the anticipated death of my mom and related travel needed.
When I look at my forecast spreadsheet, which currently goes through the end of 2025, my 6 months savings amount will dramatically decrease toward the end of the 3rd quarter next year. My debt should almost entirely be paid off. And that is when I will turn my eyes to re-evaluating my savings plan.
Hope is a resourceful and solutions-driven business manager who has spent nearly two decades helping clients streamline their operations and grow their businesses through project management, digital marketing, and tech expertise. Recently transitioning from her role as a single mom of five foster/adoptive children to an empty nester, Hope is navigating the emotional and practical challenges of redefining her life while maintaining her determination to regain financial control and eliminate debt.
Living in a cozy small town in northeast Georgia with her three dogs, Hope cherishes the serenity of the mountains over the bustle of the beach. Though her kids are now finding their footing in the world—pursuing education, careers, and independence—she remains deeply committed to supporting them in this next chapter, even as she faces the bittersweet tug of letting go.
Since joining the Blogging Away Debt community in 2015, Hope has candidly shared her journey of financial ups and downs. Now, with a renewed focus and a clear path ahead, she’s ready to tackle her finances with the same passion and perseverance that she’s brought to her life and career. Through her writing, she continues to inspire others to confront their own financial challenges and strive for a brighter future.
