Just a girl trying to get out of debt and live a financially sustainable life.
Sunday, April 17, 2011
Financial ADD
I think I may have Financial ADD. I can never isolate our top priority and thus I have changed focus again for our extra money. I was intially gonna go all gung ho trying to pay off debt but stopped almost as soon as I began. I now plan to funnel all our extra bucks to an Emergency Fund account. The reasoning behind this is simple. I don't know how long I'll have two jobs to help pay down the debt. I anticipate that it will be long term but would like some $$$ cushioning before we go at it with "gazelle-like intensity" (not that we are subscribing to the Dave Ramsey school of thought). So as for now, our new goal is to bank $4000-$5000. I might try to tinker around with my settings and put up a few savings progress bars. We have a three savings accounts right now. A tax savings (because I'm making more than I was last year I'm withholding on my own), an annual fund (for things like HOA, car registration, etc...) and now an EF. Let's see how it goes.
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Those are good savings accounts to have started. You are smart to be setting money aside for tax time so that the bill isn't a shock. Ditto with the annual dues. good job.
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