I make no secret of how much I love New York. I just love it there.
My dream is to have an extended stay there; you know that dream that you have, that you put off and put off due to various reasons, but is always there in the back of your mind, well that’s mine. I’m thinking about a month, so that I have enough time to relax and not be rushing around trying to fit everything in.
Now getting a month off work would be quite difficult for hubby at the moment, but in 2012 during our transition time there might be an opportunity, so I’m planning and saving for it in an ING account.
We use ING for all our short term saving.
Short Term Savings Goals:
We keep our long term emergency savings in ISA’s, hopefully we don’t have to use them, and for short term savings we use ING.
ING lets you have up to ten sub accounts, we currently use five, which you can name as you like; we named ours after our savings goals, which we fund every month {Simple Mom has a good explanation of how she uses her families here} Ours are used as below:
1. Savings: Portugal Costs
2. Savings: Laura EF
3. Savings: Big Trip 2012
4. Savings: House Repairs
5. Savings: Christmas
Being able to view these accounts every morning and see how they are growing is motivating – it’s visual proof that we’re moving further towards our goals.
What about you, do you have a system for saving towards short term goals?
{photo credit: tomas fano}
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What is it that attracts you to NYC?
I spent a week there once, enjoyed my time. Havent really felt the need to return. But then I live in a city myself so when I go on holiday I like peace and quiet, tranquility and countryside
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Move to Portugal Reply:
January 25th, 2010 at 2:03 pm
I think we may be totally opposite in holiday locations, lol
New York. Everything! This post by another blogger, Syd, sums it up so much better than I ever could.
I’ve probably been 20 times and still love it
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Thank you for that tip re sub accounts!
.-= apieceofwood´s last blog ..Over 40% paid off now =-.
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Sorry can I ask which saving products you use there?
.-= apieceofwood´s last blog ..Over 40% paid off now =-.
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Move to Portugal Reply:
January 25th, 2010 at 6:05 pm
@ apieceofwood we use the ING direct savings account (online) the rate is ok for the first 12 months and then a bit rubbish, but for the amounts we keep in there it’s not too important. For long term larger savings I’d go with a better rate. It’s swings and roundabouts really with mortage rates vs savings rates…oops ramble
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I visited New York a few years ago and loved it – I can see why you’d want to spend some time there. I also have named savings accounts attached to my current account. I tend to use the ones with better interest rates for longer terms savings and the others for the ones for short term savings like upcoming holidays and things that need to be done to the house. Like you, I find this helpful as I can see how close I’m getting to my goals! Good luck with your bathroom painting this week
.-= Shoestring´s last blog ..In the picture =-.
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Move to Portugal Reply:
January 25th, 2010 at 6:06 pm
thanks shoestring, not touched the bathroom today, apart from having a shower! I need to get going on it
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Well, as you know, I’m with you on this one (thanks for the link). You will LOVE a month. You can take it slow, relish every stroll through Central Park, visit museums at your leisure, just explore neighborhoods. I’m ready to go back!
.-= Retired Syd´s last blog ..Why Not Get a Fun Job in Retirement? =-.
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Hey Missy – you get a referral bonus if you refer a friend – want to refer me?
.-= apieceofwood´s last blog ..Over 40% paid off now =-.
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Completely with you on this one – I love NYC too, it’s one of the very few places I could move to happily. There’s just such a buzz about it.
Hope you get to go!
Kat
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Well, well, well look at all the city folks! DH and I went to NY once for five days but after three days the pace of life there started to make us a little crazy. Wow–talk about sensory overload. I’m glad we went, but . . .well, if go back to New York, it will be to go upstate.
That said, I like your take on saving for short term expenses as well. It’s a fun idea–far better than just whipping out the credit card. We’ve never decided to put anything into a separate account and save specifically for something–but I like it. It creates discipline. And I’ll have to check out ING since we’re getting zilch on our savings right now . . .well at least on our swatch of neglected savings.
.-= Trish´s last blog ..Keeping a simple schedule: when and how to cut back. =-.
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I love NYC too. But a trip upstate is also worth a punt if you have a month. I love China town. And try the russian baths in the east village. there is so much to do and so many worlds there isnt there. Its a bit stressy though. Lots of angry shouty people! We stumbled into 3 arguments in one day! they like to honk their horns and shout!
I have an egg internet account and barclays ones. But the names of mine are somewhat random and I dont really have specific plans for the savings. one of them is where I stash a monthly amount for my quarterly and yearly bills. Another is a regular saver with a high (ish) interest rate. and then I have a joint savings account which is where I save our money. And one for me, where I squirrel away cash here and there for general back up. I would like to be more, specific and have savings plans but am not there yet.
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