tag:blogger.com,1999:blog-7237510488098484827.post5667216111782480689..comments2023-10-03T14:28:15.645-07:00Comments on Frugal Wife = Wealthy Life: Simple Budgeting Plan (Carole)Carolehttp://www.blogger.com/profile/13361293553525222340noreply@blogger.comBlogger3125tag:blogger.com,1999:blog-7237510488098484827.post-34528297030924793842010-04-16T15:12:00.183-07:002010-04-16T15:12:00.183-07:00great blog - i would love to have any money for &#...great blog - i would love to have any money for 'wants' 65% of our income goes on our mortgage - but i live on a small island and housing is expensive xxAnonymoushttps://www.blogger.com/profile/10555001676886354389noreply@blogger.comtag:blogger.com,1999:blog-7237510488098484827.post-81219448643670138492010-04-13T09:06:20.249-07:002010-04-13T09:06:20.249-07:00What's really great about this plan is if you ...What's really great about this plan is if you were to lose your job, for example, you could quickly cut your expenses by half, which would allow you to live off that emergency fund a bit longer.Kimberlyhttps://www.blogger.com/profile/07581699201036948204noreply@blogger.comtag:blogger.com,1999:blog-7237510488098484827.post-44743501600197039992010-04-13T09:01:56.369-07:002010-04-13T09:01:56.369-07:00The GRS blog is great! I've added it to my re...The GRS blog is great! I've added it to my reader, thanks for introducing it.<br /><br />Here is a question about something that always confuses me when it comes to saving: how do I save for both long and short term goals at once? Once I pay off my car, build my emergency fund to 6 months, and start to contribute to a retirement fund (in about a year) I'll be ready to really start saving. I'd like to start saving for a house. I am determined not to buy until I can put 15-25% down, and with my small salary it looks like it will take me 3-5 years until I can save that much. <br /><br />But what about smaller expenses - saving for car repairs, travel home during the holidays - not wants, but legitimate needs? <br /><br />What about putting money into a non-touch savings. If I put all of my money into saving for the down payment on a house and then purchase a house, I'll be left with no savings (other than an emergency fund, which I don't plan to touch). <br /><br />I could put small amounts into savings accounts for all of these things, but with that method it would take years and years to be able to afford a house.<br /><br />There are lots of books that advise on how to save, but none of the plans I've come across have ever answered my question about how to save for both long and short term expenses. What is your advice?Melaniehttps://www.blogger.com/profile/03338949204492816733noreply@blogger.com