(1) Max out 401ks - $34,000 ($17,000 for each)
(2) Max out IRAs - $10,000 ($5,000 for each)
(3) Add to our emergency fund - $10,000
(4) Principal prepayment for mortgage - $5,000
(5) House project fund - $5,000
(6) Trading account fund - $5,000
We finally finalized our goals for 2012, two months into the new year.
$69,000 is a stretch, $9000 more than we saved last year. I also spent quite a bit
of time working on our 2012 annual spending plan. Reworked it, checked the numbers, etc. I'm still tweaking, and plotting and planning how we can save more, but the plan is generally done. I'm thinking that the extra $9000 is going to come from our reduction in eating out and order in. I've been making progress on that front, but we could do better. I'd rather eat out less, save our eating out money for special meals out and save the rest. Eating out/order in has gotten to be such a habit for me.
Just curious , to save $69K in a year , what is your household income ? And what do you do for a living ?