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!
2 Comments
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!
Thanks Lee! I’m also paying PMI too. I totally should re-think my strategy!