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.

1 comment:

  1. 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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