Okay, let’s compare the first half of 2016 with what I’d like to save in the first half of 2017:
For the first 6 months in 2016, I saved $24k, or about $4000 a month. This also includes the mortgage principal, which is sad, because it means my savings were only $3k / month not considering the mortgage payment. In 2017, I want to pay off $50k in that same time period. Subtracting out some stuff:
$50k – $6k (savings) – $5k (bonus) – $3k (tax refund) = $36k. Then it looks suspiciously like $6k a month. $1k of that is the normal mortgage payment, so savings better be at $5k. But last year it’s pretty clear I was only able to do $3k: 60% of that.
This is assuming a really, completely, unpleasantly bare bones budget for 6 months in a row. Like, not just *not* eating at restaurants, but also eating more food at work for free. Will I be able to do that *and* purchase the magical cat detecting food bowl? Of course not. I have to be socially weird if I do this plan. 6 month hermitation. Or I have to sell stuff…
The savings for the second half of 2016 is looking to be $34k. That’s a lot closer, but it includes a $5k bonus (and a $2.4k property tax payment). Good that it is improving. Looks like most of my success is going to be in vacation ignoring.
- no restaurants (safeway hooray)
- no steam purchases until condo is paid off
- no new video games or movies until the condo is paid off
- no new electronics until the condo is paid off
- no vacation until the condo is paid off
- yoga 6 times a week
- no alcohol until the condo is paid of except with people who called dibs