Savings Challenge

While reflecting on the past year and looking towards the future, it's come to me that I really could achieve more with my life and do more of the things that I want to do, if I was a bit more organised and mindful of my spending.  I suppose this is true for all of us. As I've ruminated over this for the past little while I've come up with some reasons for saving to be meaningful to me and hopefully to motivate me into making changes.While paying off the house early should be a huge motivator for me, I'm afraid it's not.  Don't get me wrong, it would be nice but it's not something that lights a fire in me to make changes.


Specific things that are motivating me to save

Travel.  I am ALWAYS highly motivated to save money to travel.  It is a sad addiction I am afraid.  In this area there are a few specific things I'd like to start putting money away for.
1. A family holiday with my nephews and niece to the USA and Disneyland.  This will take place in 4 or 5 years time so the youngest among them is big enough to enjoy the rides. This gives me time to save for it. Starting to save for this trip now means that I have to find less each week or month to put towards the trip and I give compound interest time to be my friend.
2. Kathrine (our Danish 'daughter'), has invited us to her academic graduation in July and I realise if I'd been more careful over the past couple of years it would have been possible to go.  Disappointment is a motivator here and I don't want to be in the position where she may one day invite us to her wedding and we're unable to go.
3. Another trip back to the UK to see Liz (at some stage).

Around the home.
Other than some general repairs and ongoing maintenance, we are going to need to replace the roofing over the back deck and greenhouse.  It's in an increasingly deteriorating state of being and one day soon our hand will be forced.  It's a very large area so is not going to be a cheap exercise.

Other.
Our car is getting on in age and kilometres so we've started a slow look for a new one.  As we're not in a hurry we're taking our time, doing a bit of research and weighing up our options.  Not an inexpensive endeavour either in the grand scheme of things.

So, how am I going to get myself into the best position to meet these challenges and goals?

1.  Grocery challenge.
2. Gift Savings Challenge
3. General savings challenge.

I'll write more about these in subsequent posts.  Want to come along for the ride?  Where could you use your money better and what would you do with it?