My relationship with money has always been a weird one. While I can be really good at saving up towards a goal and be frugal, these past years I haven’t been the greatest at it. This is largely due to having my first adult job after grad school and actually earning good money, creating more disposable income and to the fact that I am spending more money on myself. This a good thing on one hand since I am able to afford great travels, but I also tend to waste my money on things that I don’t really need.
While this might sound bad and like I am not saving anything, I am actually putting aside quite a bit of money:
- I have an emergency savings account
- I invest 4% of my income in a Roth 401k
- I have 2 retirement accounts back in Germany
- and I save for travels
Nonetheless, there is a lot more room for more saving and with life changes coming up next year I need to step up my game.
So in 2017 I want to focus more on actually saving money. I have two goals:
- Build my emergency savings account from the $2,162.27 in it now to at least $20,000
- Save another $3,500 for my travels. While a lot of things are already paid for there is still some lef