Financial Planning

Are you financially where you want to be?


Hello Sophisticated Spenders!

The end of 2015 is here!

This made me wonder…

Am I financially where I want to be?

Emergency Fund? No! I used a big chunk of my E fund to pay off my car. Best decision ever!

Debt? Yes! I NEVER carry credit card debt and I paid off my car this year. I’m now on track to pay off Mortgages and student loans in 3 years.

Retirement Fund? Yes! I feel that even though I am not maxing out retirement savings. 8% is enough!

Insurance? No! I still don’t have any life insurance or medical directives or anything like that.

Spending? Meh! I took a HUGE paycut that has forced me to budget like a boss. It hasn’t been easy but I’ve made adjustments.

Saving? Yes! I have my savings on auto-pilot. I set it and forget it.

Investing? Sure. I don’t invest in anything that I don’t understand. My personal stock picks are doing ok. I think I’m missing out on something huge in the housing market but I am going to stay put for now because I don’t have the time to research anything.

Are you financially where YOU want to be?

I’d like to know in the comments below!

Cheers to 2016!

  1. Congrats on paying off your car and being on track with your student loans. I paid off my car loan in November and am now applying all of the money towards my student loans, which should be paid off in 2 years. I’m in no hurry to pay off my mortgage, since the rate is 3.25%… but I’m focused on paying down my mortgage enough to get rid of the FHA MIP. That will happen once I pass the 5-year minimum that they make you pay the MIP (mortgage insurance premium, similar to PMI).

    Good luck for 2016!

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