Money Update #3: Reaching My Financial Goals

The awesome website was kind enough to share an article that I wrote about minimalism and food. Head over to to check it out as well as dig into the other great stuff offered. 

This week I want to share with you where I am in terms of reaching the goals I set out for myself this month and more of what I’ve been learning.

I’m going to share with you each goal I set for myself and where I am in reaching that goal and my next steps.

1. How to streamline and minimize monthly expenses:

To streamline expenses, one of my goals for this week will be to set up automatic transfers to pay certain bills online.

To minimize expenses I will look into car insurance rates and reducing amount of money budgeted to categories like clothes and home decor. I hope to find what I need or want at second hand shops for less money as well.

I also will use the cash envelope system for food, gas, pet supplies, and fun stuff.

2. How to still have fun while saving money:

I am allowing myself some spending money each month for dining out or entertainment type stuff. I will use the cash envelope system and choose activities wisely.

It's helpful to remember that being conservative now will help me save up a full emergency fund which will then allow me to start saving for retirement and investing, which will set me up for a more comfortable future and retirement.

3. What I need to have a savings account for emergencies, for fun, and for retirement:

Emergency fund: I opened up another checking account through my bank which I can        withdraw from if need be, but it is not as easy to get this money out as it would be if it were in my standard checking account. I am and will continue to contribute to this fund on a weekly basis although the amount might vary month to month depending on what else is going on that month.

Fun: I mentioned last week that I opened a savings account to save money for a trip. After reading more of Dave Ramsey’s book, I think I should really save up a full emergency fund before contributing any precious savings money to a trip fund. So that’s what I’ll do. I just did my budget for October and I’m still giving myself some money to spend on fun stuff like restaurants and clothing.

Retirement: Dave also says to build the full emergency fund before starting to save for retirement. When it is time to start a retirement fund, I will do more research on the types of plans and accounts that are best for this. Dave gives us a lot of information in his book, “Dave Ramsey’s Complete Guide to Money” but it will mean much more when I’m actually ready to take the advice.

4. How, what, and why to invest.

As I just mentioned, I’m not quite at this point yet in my financial journey and when I have my full emergency fund I will take a closer look at this. 


To summarize, what I’m working on is spending less and saving more. In addition to spending less money, in order expedite the process of saving up the full emergency fund, I am considering picking up some extra work and have a couple things I’d like to sell. 

I’d love to hear about your financial goals and if you have any other strategies for expediting the emergency fund saving!