Save for Italy: the plan

I have big news, folks…

I’M GOING TO ITALY!

That is…assuming I save enough money to do so.

Zach and I are planning a trip to Italy for this summer. We haven’t researched rates or anything yet, but I know I can’t write a check tomorrow for the trip. So, assuming we plan the trip for August, I have about 6 months to “Save for Italy.”

Growing up, my family and I never traveled outside of the country – money being the number one reason why. I just applied for my first passport on Saturday, and I am 25 years old. Now that I’ve been making and saving my own money for years, I still can’t travel to Italy comfortably as of today. And the thing I spend most of my spending money on? Food and drinks. Heck, I am a foodie after all – and I am not even talking about the money I spend on “professional” food and drinks, for my writing career. I rarely spend money on clothes or shoes (as I type this, I am wearing a sweater from junior high), and I maybe get my hair done every few months or so. Food and drinks are what I spend the bulk of my money on – and thus, what I need to limit my spending on over the next 6 months.

With all this being said, I have a plan – and I am announcing it here in order to use this blog and you guys as my motivation to “Save for Italy.” My ultimate goal is to save $800, which is pretty conservative – so if I can save even more than that, all the better. $800 obviously won’t pay for my whole trip – but I can swing the remainder of the investment with some money I have in savings.

So, here is my plan - I'm not one to set unrealistic goals and fail. This is a pretty conservative approach, but my hope is to exceed my objectives. Here goes:

1.     Groceries 

              Now: I currently spend about $30/week, or $120/month 

              Goal: Spend $20-25/week on groceries, or $100/month max

              Savings: $20/month, or $120 in 6 months 

2.     Wine/beer for home

              Now: $20/week, or $80/month

              Goal: $10/week, or $40/month

              Savings: $40/month, or $240 in 6 months

3.      Dining out (not for work)

              Now: $40/week, or $160/month (wow!)

              Goal: $25/week, or $100/month

              Savings: $60/month, or $360 in 6 months

            Grand total: $720 in savings

Between some other savings here and there in gas/energy bills, etc. my goal is to save up at least $800 for my trip to Italy. On this blog, expect to see updates on how I am continuing to “Save for Italy,” including how much money I have saved at the end of each month. I might have some epic failures along the way, but I hope you join me for the experience. Wish me luck!

Do you have something you’re saving for, too? Then please, join me in my effort to save some money, while sacrificing two of my favorite pastimes.

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