Yesterday was payday so here is my budget breakdown:
$735 online savings account
$33 alarm monitoring
$500 Mom's birthday
$97 furniture fund
After paying off my student loans, this is the first budget where I really got to send more of my payment to savings. It felt good!!! My online savings account is now up to $5,000.34!! Yay! I now have $10,000 in my checking account and $5,000 in my online savings account for a total of $15,000!
I should start earning about $4.00 a month in interest on my savings account now that the balance is at $5,000! So far this month, I have only earned $1.79 in interest.
Also, I have set aside $500 to start my Roth IRA contributions. I know it's not much and I haven't even opened an account yet, but it feels good to now be able to report that I have retirement savings!! One day retirement may become a reality!
Having money going towards savings rather than debt is a good feeling. It makes me feel more confident and independent. I don't feel as though my world will collapse if I lose my job.