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About Me:

Patrick

Single male in Ohio born in 1963. I'm "the toyguy" because I work in the toy dept. of a large retail store.

2011 Goals:

- Pay myself back into my savings account the money that I used to pay off my mortgage.
- Put $3000 into a Traditional IRA again.
- Put $1000 into a Roth IRA.
- Add at least $2000 to my Antarctica fund.
- Add $400 to Emergency Fund (At end of 2010 I have $2526 in this fund)
- Put at least some money into my car fund. I have a car fund created at ING with about $25 in it but need to start saving for a future car purchase.
- Go to Scotland for a week in May for a ghost tour and stay a few days in New York city.
- Might have to have another expensive roof repair. Last year or so I had to have half the roof done and was very satisfied. But I think I have to have the rest of the roof done now.
- Take a short trip to New Orleans for Halloween.

2010 Goals:

X- Pay myself back for latest car repair (rear breaks)
X- Add $400 to my E-Fund
(Added $410)
X- Continue putting whatever money I can into IRA fund for 2010 and 2011.
X- Put $3000 into IRA for 2010
X- Have income taxes done before end of March
X- Continue paying at least $100 extra on Principal of my mortgage each month
X- Continue putting whatever extra I can afford into my Travel Fund
X- Have to call Tours of Terror to make arrangements for Ghost Tour in Scotland for next year.
X- Try to take a trip to west Virginia in Spring or early summer.
- Take a short trip to Phoenix Arizona if I can get very low cost tickets. (FAILED. Couldn't get cheap enough airfare)
X- Figure out exactly when I can pay off the rest of my mortgage. It might be this year or the end of next year.

"Lofty" 2010 Goals:

X- Pay off my house completely by November. This one is not so lofty cause I will be paying it off sometime regardless. November will be the absolute earliest though.
(Paid off end of October)
X- Start an Antarctica Fund and save at least $1000 in it. I want to go there someday but its very expensive and my Travel Fund alone will never be able to handle it. (Put in $1200)
- Put at least an extra $1000 into my 2010 IRA than stated above but put it into a Roth instead of a Traditional.
(Failed. Never got around to this one)

2009 Goals:
X- Pay myself back $344 for muffler repairs on my car from December of 08.
X- Add $400 to my E-Fund.
X- Continue saving for a total of $4000 for 2009 IRA.
X- Start saving for total of $3000 for 2010 IRA. (Saved $690)
X- Have my first ever yard sale when the weather starts getting nice this spring.
X- Try to take a real vacation around July or August possibly to Costa Rica.
X- Pay at least $100 extra per month to Mortgage principal. I plan to pay off my mortgage completely before the 20 year mark which is about 3 years from now.

2008 Goals:
- Continue using Quicken to keep my checking and other accounts in order.
- Save at least an additional $400 into my
E-Fund (DONE) which currently has $1,200 in it. My overall goal for E-Fund is $12,000.
- Slowly work on building up a car fund. (VERY SLOWLY)
- Save enough into Travel Fund to take a good vacation in October. (Saved enough money but cannot travel this year)
Save $4000 for 2009 IRA contribution.
- Continue my "Paper (clutter) Challenge"
- More to come as I think it over.

Car Fund

December 29th, 2007 at 06:48 pm

One thing I'm seriously lacking financially is a car buying or car repairing fund.
I'm very happy with what I drive now but its a 2001 Kia Rio. Its at an age now when it really could break down seriously without much notice. Plus eventually I would like to buy a new car. My real hope is to still be driving this same car 10 years from now though.
Anyways I just haven't had extra money to even start a "car Fund". I've been focusing on other things and my tiny little dollars only stretch so far. :-)

So yesterday was payday and I took a dollar out of my spending money and tucked it into an envelope to begin a car fund. A little silly maybe but its a start. And I'm hoping the little seedling dollar grows healthy and strong.

My next step with it is to have a bank account designated for a car fund and start building it up. But for right now for me it was important just to get something started. I'll try to keep my progress updated. Also I noticed how most people have their goals posted in the sidebar. I'm hoping to post some of my goals like that too very soon.

Posted in Uncategorized | 10 Comments »

10 Responses to “Car Fund”

koppur Says:
December 29th, 2007 at 06:50 pm 1198954242
1198954242

It's a good start! Every dollar counts, cuz when you throw in enough of them, they become big bucks! Keep us posted on how it goes.
luxliving Says:
December 29th, 2007 at 08:35 pm 1198960506
1198960506

YEAHHHHHHHHHHHHHH for getting started! Good on you. We can't hit a goal unless we aim at it.

You're now in the batter's box, so start swinging for the fences!!!
Ima saver Says:
December 29th, 2007 at 09:02 pm 1198962126
1198962126

Good for you. I started a car fund many years ago. After I got my car paid off, I just kept making those payments to myself. Then I can either pay cash (small car) or have a big down payment (expensive car)
frugalhousewife Says:
December 29th, 2007 at 11:47 pm 1198972076
1198972076

No amount is silly as every penny helps. Once our vehicle is paid off next year, we are going to start saving for the next one. Good luck with your car fund!
scfr Says:
December 30th, 2007 at 03:35 am 1198985734
1198985734

You tucking that dollar away is the perfect illustration of the Chinese proverb that says something like "A journey of a thousand miles begins with a single step." Good for you!
Toyguy1963 Says:
December 30th, 2007 at 05:08 am 1198991331
1198991331

Thanks everyone for comments. I appreciate it and you guys are very supportive. I have lots of things I need to work on but the car fund thing was really bothering me. It felt good just putting that first dollar into it.
monkeymama Says:
December 30th, 2007 at 02:03 pm 1199023418
1199023418

$1 is better than $10. Much better! Way to go.
Toyguy1963 Says:
December 30th, 2007 at 05:33 pm 1199035990
1199035990

Thanks monkeymama for the comment. But I wish it was $10. I will be adding more soon though.
reflectionite Says:
February 26th, 2008 at 10:00 pm 1204063258
1204063258

that's not very old for a car to be breaking down seriously! i know it's a kia but it's still pretty new. i have a 98 pulsar which hasn't had anything majorly wrong with it since i bought it.
toyguy1963 Says:
February 27th, 2008 at 04:59 am 1204088365
1204088365

Thats true reflectionite. Good point. But the older a car gets you just never know what will happen. And my car fund is for either repairs or buying a new car eventually. The rate I'm going it will take me awhile. I am making progress though. I just need to write an update post sometime soon here.

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The Toyguy's Blog

Chugging along at a snail's pace.

Car Fund

10 Responses to “Car Fund”

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