How much will it take?

I went to crunching numbers to see what exactly I am up against.

In order to reach my goal of $100,000 by 2015, even with what I already have saved I will have to make $4,700 every month starting now. Never have I seen that kind of income. That’s about how much I have made in one summer, and about what I’ll have saved after the entire year (after expenses, taxes, etc).

My current monthly expenses are (approx.):

Food: $80

Gas: $150

Car Insurance: $35

Utilities: $40

Housing: $200

Phone: $35

Total: $540

So assuming that my living expenses stay the same I will need to earn about $5,240 every month!

Currently I have barely 1% of my goal.

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