by Hope
As any one who has been reading me long knows, I keep myself motivated during this debt payoff journey with small baby step plans. It’s been a while since I had one since my two remaining debts are quite large…
And as previously mentioned, I do think I need to start putting something toward retirement…
So here’s my short term (baby step) plan…
For the remainder of October through December, I will continue with my current budget. Paying the minimums as listed toward my two debts. But putting all additional income toward my EF. If I continue making the same amount I have the last few months, I will reach a solid 4 month strong EF by the end of the year.
Then I will diversify a bit and split my additional income between a Retirement plan, not sure which one yet, and putting extra money toward debt payments. I have decided to prioritize the car debt over the student loans at that time.
Raspberry tea to close out a long day of walking around colleges
I will redo my budget in December to take into account these plans AND adding a line item to save towards Princess’ last year of high school. More to come on that in then…
Life has been very good to us this year. Steady and quiet. A change from our last few years. I am so grateful for the respite after jumping from emergency to emergency. I am now working on business plans for next year along with putting some personal goals down on paper.
Hope is a creative, solutions-focused business manager helping clients grow their business and work more efficiently by leveraging expertise in project management, digital marketing, & tech solutions. She’s recently become an empty nester as her 5 foster/adoptive kids have spread their wings. She lives with her 5 dogs in a small town in NE Georgia and prefers the mountains to the beaches any day. She struggles with the travel bug and is doing her best to help each of her kids as their finish schooling and become independent (but it’s hard!) She has run her own consulting company for almost twenty years! Hope began sharing her journey with the BAD community in the Spring of 2015 and feels like she has finally in a place to really focus on making wise financial decisions.
So, what do you think ?