Saturday, October 3, 2009

Savings and a New Blog

After I account for general living expenses, pay my mortgage, pay my car loan and set $100 aside for future car rego, insurance and repairs, I have around $250 left to save a fortnight. I did some tinkering yesterday and have decided to put $50 toward my travel fund and $200 toward my down payment fund.

I desperately want to pay off my car, but just can't get motivated to do it. I feel that I took on the loan comfortable with the $3000 interest I would have to pay. If I was channeling all of my money into my car, I wouldn't be able to save for a house or to go on a holiday. I know that once the car is paid off, I can save so much more toward a house and a holiday, but at this stage, I think I'd rather be saving for a down payment.

Does anyone think this is a completely ridiculous idea? Should I be trying to pay off my car instead?

In the meantime, I have discovered Madame X at My Open Wallet. This will probably occupy me for the rest of my afternoon :)

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