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It all started with pneumonia.

Michael, stuck in bed and utterly bored, decided to give Netflix's Drive to Survive a go. "That's the F1 show Katie and Mike have wanted me to watch for years," I told him. "Let me know if you like it."

Turns out, he liked it. He really liked it.

One episode turned into three. Three turned into a full-on binge. And by the time he was back on his feet, Michael had turned into an F1 fanatic. Stats. Drivers. The drama. He wanted it all.

And then came a quick trip down to Austin to see a concert, which just so happened to coincide with F1's Austin race weekend. In fact, the race had been a bit of a sticking point, as hotels that normally cost $200 a night were priced well above $800.

As we were driving down for the concert, Michael casually suggested checking out the F1 practice session the next morning before we drove home. I'd been a casual fan of the sport for years, so I was all for it. Plus, tickets for practice were something like $50 a pop. Not too bad for spur of the moment. The next afternoon, Michael left the track grinning, saying, "It's so much better in person."

Fast forward a few months. The boys were asleep, the house was quiet, and Michael hit me with it...

"What if we go to the Monaco Grand Prix for our five-year anniversary?"

I laughed. "That sounds... insane. It's, like, six months from now."

But it also sounded amazing. Because it's Monaco. The yachts. The glamour. The cars. Who wouldn't want to see it all up close?

So we pulled up some prices, just to get an idea.

Flights? Ouch.

Tickets? Double ouch.

Hotels? Let's not even talk about it.

We looked at each other and burst out laughing. "What if... we go to the Monaco Grand Prix for our six-year anniversary?"

Because sometimes, a dream needs time to breathe. And time to save.

Now we just have to come up with a plan. A big, bold, "let's actually do this" kind of plan. So, how do you save for something this big? Let's break it down.

Step 1: Define the Expense

The first step in saving for something big? Get clear on what "big" actually means.

When Michael first threw out the idea of going to the Monaco Grand Prix, I had no idea what the trip would cost. Flights, hotels, race tickets, food — it all felt overwhelming.

But instead of letting the dream float around as a vague, unattainable idea, we decided to pin it down. Because as dreamy as it is to imagine ourselves sipping espresso in Casino Square, the last thing we want is to stress about money while we're there.

We started with research.

-       Flights:How much does it cost to fly to Monaco in late May? ($1,700 per person)

-       Hotels:What's the range for decent accommodations? (Spoiler: There are no cheap hotels in Monaco on race weekend. Hotels were charging at least $1,000 per night.)

-       Race Tickets:From grandstands to VIP packages, what's realistic? ($500+ per person)

-       Extras:Food, transport, and a buffer for unexpected expenses. (~$1,500? Why not.)

We wrote everything down and added it up. Total? About $10,000. But seeing the breakdown made it less scary. Instead of "a trip to Monaco," we now had a list of individual expenses we could tackle one by one.

Here's how you can do the same:

1. Research.Whether it's a trip, a car, or a remodel, start with online searches, quotes, and reviews. Get specific numbers.
 

2. List every cost.Break the goal into categories (e.g., transportation, lodging, tickets). Don't forget extras like taxes, tips, or a safety buffer for surprises.

3. Set your total goal. Add it all up. Even if the number feels big, knowing it is the first step to achieving it.

For us, defining the expense turned the dream into something tangible. We weren't just daydreaming about Monaco anymore; we were planning for it. Suddenly, that big number didn't feel so scary — it felt like a challenge we could take on.

Step 2: Set a Realistic Timeline

Once we ha our number — the big number — the next question was how long will it take to save this much.

Initially, Michael suggested Monaco for our five-year anniversary, which was only a handful of months away and there was no way we'd have enough time to save money for the trip. Sure, we could have slapped it on a credit card and hoped for the best, but that's not the stress-free trip we want.

Instead, we shifted our focus to the six-year mark. Giving ourselves an extra year meant we could save intentionally, without sacrificing other priorities. Here's how to set a realistic timeline for your own big goal:

1. Divide your goal by your timeframe.Take your total savings target and divide it by the number of months until your deadline. For example, if your goal is $10,000 and you have 16 months, you'll need to save $625 per month.

2. Assess feasibility. Be honest with yourself. Can you comfortably save that amount each month? If not, adjust the timeline or consider scaling back parts of the goal.

By giving ourselves more time, we made the goal feel achievable. So, whether your timeline is six months or six years, choose one that works for your life. Big dreams are worth the wait, and trust me, it's a lot more fun to enjoy the process than to panic your way through it.

Step 3: Open a Dedicated Savings Account

Here's the thing about saving for a big expense: If the money sits in your regular account — mixed in with your regular money — it's way too easy to spend. One splurge here, one "just this once" there, and suddenly your Monaco fund has turned into a new couch and a few too many takeout nights.

1. Open a dedicated savings account.It's simple, but it makes a huge difference. Personally, I suggest looking for a high-yield savings account. Many online banks offer accounts with no fees and better interest rates, so your money grows a little while you're saving.

2. Name it something fun. Seriously, this works. We're calling ours "Toto 2026" — if you know, you know — and every time I see it, I feel a little spark of excitement. It's like a tiny reminder of what we're working toward.

3. Automate regular contributions.Set up automatic transfers from your checking account to your savings account. It doesn't have to be huge — just something consistent. Think $50 a week, $200 a month, or whatever works for your budget.

The beauty of a dedicated account is that it keeps your goal front and center. Every deposit feels like a little win. And every time you resist the urge to dip into it for something else, you're reinforcing the habit of saving intentionally. Creating that separation is a game-changer, whether you're saving for a trip, a wedding, or something else entirely.

Step 4: Make a Savings Plan and Track Your Progress

This is where the dream starts turning into reality. Because even with a dedicated account and a solid timeline, you've got to figure out how you're going to fill that account. Knowing how much you need to save andactually saving it are two very different things. That's where having a plan comes in.

Here's how to tackle it:

1. Start with your budget.Take a good, hard look at your current spending. Where can you trim? For us, it will mean cutting back on eating out and rethinking some of our normal “fun” purchases. But those small cuts can add up fast.

2. Find extra income. This one's a game-changer. We've committed to putting all "surprise" money toward the Monaco fund — tax refunds, birthday cash, even money we've made selling some of the baby stuff the boys have grown out of. Every little bit helps. Plus, we're going to use the $500 or so in interest we're making each year on our emergency fund (also living in a HYSA). Between this year and next, that's $1,000 right there!

3. Set monthly targets/mini-goals. Decide how much you want to save each month or week and stick to it. For example, we're aiming for $625 a month to hit our goal. Breaking it into regular targets keeps the process manageable and gives you a clear sense of progress. If monthly goals don't sound exciting, try breaking it out into mini-goals, like saving enough for flights first, then moving on to accommodations. Tackling one piece at a time makes the process less overwhelming and gives you smaller wins to celebrate along the way.

4. Check in regularly.Schedule a monthly "money date" to review your progress. This is also a great time to adjust your plan if needed — maybe you had a windfall and can save extra, or maybe expenses popped up and you need to recalibrate.

5. Stay flexible and be open to trade-offs.If something unexpected eats into your income or forces you to pause your savings, it doesn't mean you have to throw out your entire goal. Take some time to consider how you can adjust or even scale back part of the goal. For us, that might mean swapping a swanky Monaco hotel for a charming spot in a nearby town. The dream is still alive, just slightly modified. (And remember, there's nothing wrong with extending your timeline.)

6. Keep your eyes on the prize and reward yourself!Saving for a big goal can feel like a slog. When hiccups happen, remind yourself why you're saving in the first place. That "why" is what keeps you motivated when things get tough. And don't forget to build in small splurges for when you hit certain milestones (like a T-shirt from your favorite F1 team!).

It's all about finding a balance. We didn't want to feel like we were sacrificing everything fun in our lives for a trip nearly two years down the road. But we also wanted to make steady progress. Having a plan keeps us on track, even though the trip is literally years away, even though things won't always go perfectly.

And here's a secret about saving for a big expense...

Watching your progress unfold is half the fun.

No, I'm serious! There's something about seeing the numbers climb that makes the whole process feel exciting. We only just opened our Toto 2026 account this week, but I'm already eager to see how much we'll have managed to save by the end of this year.

It's a reminder that the big, "impossible" dream isn't so impossible. In fact, it's getting closer with every deposit.

The key is to make a plan that works for you. Saving $500 a month might sound daunting, but saving $125 a week or $17.85 a day? That feels doable. Whatever your number is, break it down until it feels achievable, then stick to it.

But why wait until you can put away $100 a week to start saving? You can start today with a single dollar. In fact, research has shown the best way to start saving is with very small amounts. Check out my three-step plan to start saving in Want to Save $10,000 in a Year? Start With Just $28 a Day.

Making the Dream a Reality, Step by Step

So, here we are — about two years out from Monaco, with a plan in place, a dedicated savings account, and a whole lot of excitement. Is it going to take time? Yes. Effort? Absolutely. But that's exactly how big goals happen.

Whether your goal is an F1 race, a dream vacation, or something completely different, the process is the same:

-       Define the expense.

-       Set a realistic timeline.

-       Create a dedicated savings account.

-       Make a plan.

-       Stay flexible.

-       Track your progress.

Big dreams don't have to stay dreams. They just need a plan and a little bit of patience. And when the day finally comes — when you're standing in Monaco, sipping espresso and hearing the roar of engines — every step of the journey will feel worth it.

So, what's your big dream? What's the goal you've been putting off because it feels too big or too hard or too far away? Write it down. Break it down. And start saving. Because if we can do this, you can too.