Image courtesy of dbking

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January was a pretty good month for the savings challenge. I was able to beef up the savings account balance without any major changes to my regular monthly budget.

My goal is to get to $50,000 by December 2010.


January 1, 2009

Beginning Balance...........$23,249.44

Deposit..............$ 20 (Allstate Insurance - Safe Driving Bonus)

Deposit..............$ 6 (Pinecone Research)

Deposit..............$ 28.52 (misc deposit)

Deposit..............$ 700.00 (monthly savings contribution)

Deposit..............$ 1000.68 (2nd half of bonus from my employer)

Deposit..............$ 40.29 (interest payment)

Deposit..............$ 86.39 (misc deposit)


January 31, 2009

Ending Balance.............$25,131.32


Balance Change Amount
........$1889.88
Change Percentage
.................... 8.1%

Amount Remaining towards $50,000 Goal
= $24,868.68/23 months = $1081.25 saved each month in order to reach my goal.

So far, so good. I probably won't be able to continue to save over $1800 a month but I should be able to save at least close to a thousand by monitoring my spending.

If you want to start your own savings goal, consider using WT Direct. They are currently paying 2.81%. It's easy to open the account and there are no fees and no minimum balance.



Related Posts:
December Savings Challenge
Savings Challenge

10 comments

  1. harry seenthing // February 2, 2009 at 7:57 AM  

    wow nice blog and good informatin u have, was here for blog walking, i hope we can make afriend in here for comment in every post in other blog, visiting me if u have a time, thanks

  2. Grandy // February 3, 2009 at 12:26 AM  

    Sounds like you're off to a great start!! :)

  3. Jojoeland // February 3, 2009 at 4:54 AM  

    very nice bro. persevere.

  4. Amel's Realm // February 3, 2009 at 12:00 PM  

    WOW!!! That's a huge sum of money!!! GREAT JOB and GOOD LUCK in completing your challenge!

    Btw, wanna join my guessing game in my movie blog? The winner will get 250 EC credits he he…

    Here’s the link:

    A Guessing Game

  5. Rick Vaughn // February 5, 2009 at 3:33 PM  

    Keep those employer bonuses coming should be no problem! Thanks for the breakdown makes it more believable.

  6. Jesse Bouche // February 8, 2009 at 7:43 PM  

    That is cheap. I could move to that area and be a king among men. Seriously, are houses really that inexpensive in the greater Atlanta area?

  7. Mr Plasectomy // February 9, 2009 at 9:31 PM  

    OMG, that is cheap. We left Atlanta in June of 2005 and all the prices were crazy then. I can't imagine picking that place up for that price. Simply amazing and congrats on possibly getting your goal completed early in 2009.

  8. Cool Guy // February 9, 2009 at 10:54 PM  

    $25, 000 in your savings? Wow, that's much better than my $2. Hey who is that babe on your "Don't drop and run banner?" She's pretty hot!

  9. J. Money // February 11, 2009 at 8:14 PM  

    dude, this is a most excellent challenge! I really hope you pull it off...well, i *know* you will, just a matter of time :)

  10. Atlanta homes // February 11, 2009 at 9:54 PM  

    This is a great challenge. All of Atlanta are pulling for you!