Good luck with your savings plan, and getting your 1911. I tend to take a different approach when buying some of my guns (other than FTF transactions which involve cash). I've purchased a few on Budsgunshop on their 12 month same as cash program, I get the gun I want and have a year to pay it off. The consequences for not paying it off are pretty steep so you have to be disciplined to use this program.
I've bought a handful of guns in this manner (priced from $700 to $1600) and usually pay them off in 3-4 months with "disposable" income from my paychecks. Just don't feel like dipping into savings to purchase them outright.