Personal Finance Timeline

  • Youth: Buy Golden Gooses

    Cost: Around $750 I am going to try to save $600 per yr ($50 per month) should take around 1.5 yrs I am going to accomplish this by saving and actually doing my chores so I am able to get my allowance ($250 per month) This is a short-term goal that should take around 1 yr and 3 months
  • Youth: Save for a new dog

    The total cost for my golden retriever is $3,500 I am going to try to save 1000 per yr, I am going to do this by stop buying stupid things This is a mid-term goal because it should take about 3.5 years
  • Young adult: College expenses

    I am going to try to save about $8,000 I am going to try to save around $5 per month then in 2 years start trying to save more like 2,000 a year which would be (165 per month) I am going to do this by saving This is a mid-term goal because it is still 4 years away
  • Young Adult: Buy a small house/apartment

    Cost (estimate): 15,000 - 32,000 I am going to try to save around 1,000 per yr This goal is going to be prioritized so when I start working/in college I am going to make sure to save a lot of my money towards this.
  • Adult: Marriage (honeymoon)

    Cost (estimate): $10,000 I am going to accomplish this by saving $5 a month because it is still far away
    Then when I get into college/get a real job I will start trying to save $200 per month This is a long-term goal because it is still about 10 years away
  • Adult: Kids

    The cost for birth is around 2,200 for birth so I am going to try to save 25,000 per kid. I am going to do this by saving 300 per yr once in college and saving my money from my job. This is a long-term goal because it is still like 15 years away
  • Middle age: Second House

    The estimated total cost for a second home would be around 850,000 I am going to save by saving $10 a month till I get a big girl job then 300 per month This is a long term because it is over 10 years away
  • Middle Age: Kids college

    Cost: $115,000 per kid I am going to do this by saving 20,000 a yr once I have kids or when I start to think about having kids This is a long-term goal
  • Senior: Kids getting married

    I am going to save $40,000 per kid I am going to save $5 per month then $200 once I get a job This is a long-term because it is still very far away
  • Senior: Retirement

    Cost/Saving: $500,000 I am going to try to save for this now and overtime so it is easier on me as the time comes. I will try to save $10 each month till I get a real job then 300 a month I know retirement is important and takes a lot of money so starting earlier I think will help. I will also have a 401k to help This is one of my long-term goals