Yesterday I officially bumped the Save-o-Meter to 16%. Even though I am still working on re-stating some goals I want to see some progress represented here. I made a commitment to put a bare minimum of $100 in a month so the meter is growing by at least 1% a month. Since I am still working out what amounts I need to set aside "freedom account" style, I've been feeling like some of that cash will need to come back out since "emergency fund" is mixed in with "planned expenses" and even a potentially new bucket: "$1000 cushion"
Luckily, I got good news this past week with my homeowner's policy renewal. I had intended all this time to pay off our policy in one payment of about $750 when it came due. (this is our first time even paying it ourselves and not via mortgage) But apparently, I can simply pay 15% as the first payment ($115) and sign up to have the remaining 85% deducted from my checking account in 10 equal payments (~$65)....at no charge.
Since there are no fees or interest associated with this option, my money is better off staying in savings (ING or ED) while I pay a modest monthly premium. Since cash is very tight while I wait for my huge business expense reimbursement (some of it is 30 days overdue, most of it goes toward existing business credit card balances....but some of it is money I have personally spent already), I've moved the first payment from ING back into checking so everything is on time. After deducting that from my ING balance, I was left with a little over $1600 (16%)
I expect my savings goals to split my current save-o-meter up in the near future, but it's still technically in one lump so I dont mind tracking it this way until that changes.