I wanted to break down some areas of my 101 in 1001 list that maybe need a bit of explaining, but mostly I wanted to do this because I am boring and have nothing else to talk about ;) So here is a breakdown and short explanation of my Money Goals.
{Pay off my Discover student loan, Pay off Josh's car, Pay off my chase student loan, Be completely debt free}
Achieving these three goals will complete Baby Step 2 for us. We plan to be debt free before summer of 2020, so this should be more than achievable. We're currently working on Josh's car which we hope to have paid off by the end of the year.
Achieving these three goals will complete Baby Step 2 for us. We plan to be debt free before summer of 2020, so this should be more than achievable. We're currently working on Josh's car which we hope to have paid off by the end of the year.
{Build a 3-month emergency fund, Build a 6-month emergency fund}
3 months will be about $5000 and 6 months will be about $10,000. I'm overestimating a bit because I'd rather have more than we need rather than not enough. Of course, this number could change due to a change in our location.
3 months will be about $5000 and 6 months will be about $10,000. I'm overestimating a bit because I'd rather have more than we need rather than not enough. Of course, this number could change due to a change in our location.
{Begin a savings account for a down payment, Begin a savings account for a future car or truck, Start a PCS fund}
After we get our emergency fund established, we still have a lot to save for. We may (god I hope) need the PCS fund before our emergency fund, but either way, we'll still need to save for when Josh ETS's (gets out of the Army). Both our cars are getting up there in age and mileage. Josh as a Ford so it'll probably go before mine ;) so we want to have a nice amount saved up for when that happens. We also want to start saving for a house. Once Josh gets out of the Army we want to rent for a year and then buy something - I won't buy without a 20% down payment (on a 15 year fixed rate mortgage).
After we get our emergency fund established, we still have a lot to save for. We may (god I hope) need the PCS fund before our emergency fund, but either way, we'll still need to save for when Josh ETS's (gets out of the Army). Both our cars are getting up there in age and mileage. Josh as a Ford so it'll probably go before mine ;) so we want to have a nice amount saved up for when that happens. We also want to start saving for a house. Once Josh gets out of the Army we want to rent for a year and then buy something - I won't buy without a 20% down payment (on a 15 year fixed rate mortgage).
{Begin investing in a Roth IRA, Learn more about investing}
We hardly have anything as far as retirement savings. Once our emergency fund is fully funded, we plan to start investing in Roth IRAs. Until Josh gets out of the Army, if we fully fund our Roth's that should be more than 15% of our income. So we'll stick with just that until we get our jobs out of the Army.
We hardly have anything as far as retirement savings. Once our emergency fund is fully funded, we plan to start investing in Roth IRAs. Until Josh gets out of the Army, if we fully fund our Roth's that should be more than 15% of our income. So we'll stick with just that until we get our jobs out of the Army.
{Leave a 100% tip, Find a charity to consistently donate to, Give 5 just because gift}
When we are finally debt free, we want to do fun things, travel, and all that stuff but we also want to give. I am a server and we get treated like shit, to say the least - I want to be able to give a server a 100% tip, whether it's because they seem like they're having a bad day or because they were fantastic. We'd also love to give to worthy charities like Rescue and Freedom Project on a regular basis, not just sporadically. As for the 5 just because gifts - I want to be able to see a book or a piece of clothing that I know a friend would love, and buy it for them just because.
When we are finally debt free, we want to do fun things, travel, and all that stuff but we also want to give. I am a server and we get treated like shit, to say the least - I want to be able to give a server a 100% tip, whether it's because they seem like they're having a bad day or because they were fantastic. We'd also love to give to worthy charities like Rescue and Freedom Project on a regular basis, not just sporadically. As for the 5 just because gifts - I want to be able to see a book or a piece of clothing that I know a friend would love, and buy it for them just because.
Put away $10 for every goal completed
This is pretty self explanatory.
This is pretty self explanatory.
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