Wednesday, November 16, 2011
I am a turtle!
I believe the course of action for me is to be like a turtle! Slow and steady saving and paying debts wins the race. I would dearly love to be debt free TOMORROW! But it's more important for me to try and build up a nest egg. In fact, I'm thinking that I will not plan any trips for the next two years so that I can save more money. I will definitely plan some vacation time and maybe a couple of weekends away but no trips to the beach. I want to have a 6 month emergency fund saved and that would mean a minimum of $8000 in my Contingency Fundy. I'm at a little over $2000 right now and contributing $270 a month so I've got some growing to do. If the lawsuit over the property comes to anything, I will put that money on paying off my car first. If there is any left over after that payoff, then I may plan for new appliances in the kitchen. If I bought new appliances, they should last me as long as I live there. If the lawsuit doesn't produce anything for us, I will stay the course with my plan for paying off the car by Feb of 2014 and then the condo by June of 2018. I will be 59 then and it will be exciting to look at retirement within 5 years of being debt free!
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