Wednesday, July 15, 2009

Car Fund Partially funded!

I know a while back I said that I would just save money and not categorize my savings, but purchasing this car has changed my mind. When I purchased my car insurance, I opted for a $500 deductible so my monthly payment would be lower. I don't want to be in a position where something else happens and I can't pay the deductible, so with the extra funds from this paycheck I created my car fund with ING direct. It was very easy to create a second savings account and took less than 3 minutes. Overall, I would like my car fund to have a total of $1500 to allow for unexpected maintenance, but that may have to wait. I feel a lot more secure knowing that I have funds set aside for my car.

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