Lacking a Nail

My, and our personal finance journey had been a long one. From no budget, no real savings, plenty of debt, and insufficient income. To essentially no debt, some savings, and starting to think about investing. That doesn’t mean we’re perfect. We do not have it all together or figured out.

We use credit cards for our every day expenses. Towards the end of 2024 we did some repairs on our cars. These repairs meant we weren’t able to get the emergency fund where we wanted to. I did what I tend to do in these situations. I did a little “what does it matter we won’t accomplish our goals so why shouldn’t I just buy a bunch of stuff I want right now.” shopping. We had the shopping spree paid off by the end of the year. Which means we actually would have hit our emergency fund goal if I hadn’t gone crazy with the spending.

As an ever rational person my solution was to write out savings goals from 2025-2041. Since the pad I was using ran out of paper I have 2042 – 2048 savings goals just outlined. Yes the response may have been a little extreme but the logic behind it wasn’t so far out there. Always have the next goal lined up. By my math the emergency fund was $3,000 our of reach. What if I had a smaller goal I could have pivoted to? Would that have saved me from myself? Would it have been possible to say the emergency fund is just going to have to trade places with x, y, possibly even z money goals from next year? Then I would have been able to perform mental gymnastics and turn a failed goal into success.

Below are my savings goals for 2025. Being as I’m an elder millennial I’m torn between full transparency with the complete strangers and not trusting you one lick. Therefore, I am doing some weird stuff and will have percentages next to each goal. The largest goal is 100%. All other goals will have a percentage relative to the largest. This way there is a rough idea of relative size but you won’t actually know if I’m talking about $100’s or $100,000’s of dollars. I promise, my budget doesn’t go to 7-figures. I’m not ready for that circus.

One thing I am trying this year is focusing on two goals. The first group are the larger and/or less time sensitive. If the second group gets completed before the end of the year all focus will be placed on this group.

1. 529 – 100%
   By my math this goal will take until late October/ early November.
2. Children’s social group – 10%
   Yes, I’m trying to be vague on purpose.
3. Extracurricular athletic classes – 10%
   Yes, I will try to come up with better vague names.
4. 2025/2026 School Year fund II – 5%
   Just in case what we have squirreled away isn’t enough.
5. Elementary School Fund – 25%
   We want to have money put aside for everything from field trips to fundraisers.
6. Wear & Tear – 50%
   The cars and appliances will need repair and eventually replacement. I’d like to pay for such things before they happen. Pie in the sky I fear.

The second group is either smaller or more time sensitive.

1. 2025/2026 School Year Fund – 5%
   Yup, this one’s already done.
2. Partner’s new cell phone – 15%
   We’d both like to get new phones this year. Mine will no longer be supported this year so it is already saved up for. Theirs is about 5 years old and they would like a newer model.
3. Taxes & fees for new phones – 5%
   So we don’t have to think about anything above the sticker price. This is a random number I selected.
4. Summer 2026 care – 20%
   Have you seen the pricing on summer camps? It’s a racket.
5. Big Anniversary Year – 10%
   We have one of the decades coming up and I’d like to do a few mini adventures, we started saving in 2024. It should a tidy sum when the year rolls around.

This third group is the Pie In The Sky group. What if we get good bonuses. What if between the tax return and overtime we can save more? These goals have been taken from the next few years. Just in case we can get to them this year.

1. Elementary School Fund II – 25%
   I picked a random number for each year. I’m worried it won’t be enough.
2. Middle School Fund – 22.5%
   Fewer years but possibly more expensive interests.
3. High School Fund – 40%
   Definitely more expensive interests. The existence of formal events. Clubs and/or sports that require more money. The possibility of overnight field trips.
4. Big Anniversary – 30%
   Might as well try and finish saving up for the anniversary early.
5. Wear & Tear – 50%
   If we actually get anywhere near this one I just might go catatonic for a while.
6. Emergency Fund
   Yup it’s still here, just beyond the back burner for now.

As you can see, one of the goals has already been met. We’re nearly done with the new phone fund. We’re making our way through the 529. The biggest question is what should we do with the tax returns, because we should be getting some.

P.S. If this was useful my one-page Sinking Funds Tracker is in the shop, or you can tip on Ko-fi or PayPal. One tiny move is progress.

This post reflects my personal experience and opinions. I share our real-life money – rounded numbers, personal choices, (tiny) next steps. It is not financial advice. I’m not a financial advisor. Budgeting and money topics are shared for education and entertainment only. Your situation is unique; verify details before acting. Small steps count.

Personal experiences only—this isn’t professional advice. See Disclosures and Terms.