The 100 day challenge is up – so what now?
I’ve nearly finished my savings project. In fact, if all goes well, it should be finished at the end of the month. I haven’t mentioned it before (other than in terms of generic saving) because…I don’t know. Being coy perhaps? Basically my savings last year and this year have been for a family fund. Don’t get excited – there’s no news on that front nor is there any planning going on right now. Husband and I definitely want a family at some point and 18 months ago I sat down with a calculator and realised that doing so would make things pretty tough. So when I sat down I worked out the following:
- How much I would need in savings to top up maternity pay each month for very basic survival: my usual contribution to the joint account which pays all of our household bills, food, spending money (the same as I give myself now) plus a little contingency
- Basic nursery set-up: A contribution towards the very, very basics
- Clothes: Maternity and baby clothes (a very small budget)
Like I said, there are no plans along these lines in the immediate future (for one thing our home is not at all ideal – we’d really need to move) but I wanted to know that enough money was there for when the time seems right. Obviously there would be time to save up extra but I like knowing that the basic fund is there. I’ve never taken it for granted that we’ll even be able to have children. If we can’t then at least we’d have savings either for the future or to go and do something mad. I got paid last week and today I put £600 in my savings account. By next pay day this fund should be finished.
On the subject of families – can I offer prospective parents a bit of advice? Do not tell people your ideas for baby names. I made this mistake last year. I’ve had (what in my opinion) was the perfect girl’s name set aside for about 4 or 5 years. I loved it. I convinced my Husband to love it. All of my friends knew it. Then I made the idiotic mistake of telling it to a pregnant ‘friend’ a week before she gave birth. You can see where I’m going with this I am sure. She not only used the first name but the middle name as well! At least I had witnesses at the time of telling the name! Grrrr. It was nearly a year ago and my blood still boils at the thought. The stupid thing is, if she had said she was stuck for a name and really loved what I had said (I can’t write it here – I’m still too annoyed) I would have happily handed it over like a gift. Grrrr. Moral of the story? If you love a name – keep it to yourself. Seriously.
Anyway, although it feels great to have this long term project nearly at an end I am really excited about the prospect of saving up for other things. My next savings project will mainly centre around starting an emergency fund that could be used if either of us were unemployed, if something happened to the car and so on. I’m also going to start saving for Christmas and holidays again. I’ve Been putting all of my focus on the other fund instead because I just wanted it FINISHED. And it nearly is! I’m also going to have a few treats afterwards as, while what I have done is terribly ‘sensible’, it is also very dull saving for something you aren’t going to enjoy for a long time. Actually, I’ve already ordered two items of clothing and two pairs of shoes from sales online. If, when they arrive, I decide to keep them I’ll tell you all about it. I was pretty impressed with myself when I realised I only spent £25.99 on clothes and accessories in 100 days – I reckon it’s safe to get a couple of things now!