One of my favorite parts of our annual family meeting is when we forecast our big financial expenditures for the upcoming year. I thought it might be helpful for you to see what sorts of things we talk about and plan for.
We start by dreaming and brainstorming. Eric and I each get to bring up things we’d like to buy in the coming year. Sometimes we discuss things and decide they need to wait a couple years before we can get them. Either way, it’s a great time to have a rational discussion.
Then we put dollar amounts next to the line items. It’s kind of scary to see how much we have to save for them each month. But we cut other things out (lunches out during the week, cable) so that we can make these other things happen. With hopes I’m not over-sharing, here’s what we’re saving for this year.
- Wedding - $60
- Christmas gifts – $700
- Birthday and other gifts – $600
- Christmas cards – $200
- Rooney’s 1st birthday party – $300 (includes party decor, food and gifts)
- Iowa State Fair – $100
- Weekend trip to Minneapolis in late March - already saved for
- Okoboji trip in July - $300
- Weekend trip to ??? in September for my 30th birthday – $500
What are you saving for this year?