Financial Plans on Plans on Plans

As you now know, I have an official time line – and with that comes an official To Do list, complete with my favorite list app (Wunderlist) and my favorite countdown app (Countdown, duh).

We took some big money steps this week!

Guy and I opened our first joint savings account (GROWN UP THINGS ARE HAPPENING!) with Ally bank. I love the idea of low overhead by being online only, and they have the best saving account options (1% return, woo!) (although it’s depressing that that’s high…) and a super easy to use joint account feature. As I’m the big bread winner at this point, I already setup my weekly transfers from my checking account for the next YEAR!

Our plan is to accrue at least $12,000 dedicated savings before baby, on top of our regular savings and checking. Our rent is going to go up in March, so we’re tightening the belt in a few places too.

Here is what my new weekly transfer schedule looks like!

Starting January, every Friday my account will rotate through the following:

  • $125 transfer, repeated every 4 weeks
  • $150 transfer, repeated every 4 weeks
  • $175 transfer, repeated every 4 weeks
  • $200 transfer, repeated every 4 weeks

Luckily we’re planning before the new year so it’s easy to calculate where we’ll be in 1 calendar year! Each cycle will be repeated 13 times so…

The $125 weeks will accrue $1,625, the $150 weeks will accrue $1,950, the $175 weeks will accrue $2,275, and the $200 weeks will accrue $2,600

That brings the total savings up to: $8,450!

I am super excited about this because it’s an extremely easy process, and our only other big expenses at this point are rent, my student loans (which are a nice slow burn) and guy’s car lease. Once his work contract is renewed and he starts auto transferring as well, he will submit about 1/2 as much as I am, adding another $4,225 to the total and bringing us up to $12,675 if all goes well!

And that’s only for 1 year while we have a 2 year wait… gonna get baby a big ol’ savings account for when they arrive!

Listen, I’m a planner, this is all so much fun for me. I personally think this method of saving, with auto transfers will be HUGE for our financial situation. I’ll aim to give updates about this account as the year progresses, and follow up on if I like this payment plan and would recommend it to others.


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