We have our $2500 emergency fund in place.
After looking at our budget more closely, I think we will be out of debt by May 2019. I hope to cut that number down with comissions, and hopefully with Jared's side business.
Sunday, March 19, 2017
Tuesday, March 7, 2017
We are enrolled in a 9 week Financial Peace University with Dave Ramsey through our ward. Our goal is to get through baby steps 1-5 by the time I turn 40. It would be a super bonus if we also had baby step 6 - Pay off your house - but that may be a bit ambitious in 5 years.
1. $1000 in our emergency fund - THIS WILL BE DONE 3/10/17
2. Pay off all debts (including car loans) Goal is by 6/2018
3. Finish emergency fund (3-6 months income) Goal by 6/2019
4. Invest 15% (This one is actual easy as we can do it through Jared's paycheck automatically) With our debts paid off and an emergency fund, we will have more money to be able to put it away. Goal 6/2019
5. College Savings (We will start this in 8/2019) - Paul will be starting 7th grade - so it will give us 5 years. Crazy!
6. Pay off house early - I think we can get this done 12/2024