For the majority of time I’ve been writing on my little slice of the Internet, I’ve been desperate to find a job. I couldn’t adequately comprehend paying off my massive loans without finding a steady, decent paying job.
Luckily, the universe gave me a break and I have reached my biggest goal of the year, which was finding full time work. I’ve been there less than a month, and I won’t feel fully secure until the 90-day intro period is up. But I’m feeling pretty good about the direction everything is going and I have faith in myself that things will continue to get better.
Now that I have reached my ultimate goal this year, and probably celebrated that fact a little too much (my May budget died a slow death), it’s time to get back to business. I want to pay off debt and have this gone as soon as possible. Although, I’ll be able to pay more towards more debt, my debt payoff timeline won’t change. If you go back and read my first post, I state that paying off my debt with my current income is impossible. Now it is possible, instead of just a dream! But I still have years to go….(uggggggggh)
I want to be a well-rounded, financially fit person. I have money to cover six months of bare necessities in an Emergency Fund. I put $150 in savings each month that I don’t touch. I have roughly 1k in my retirement fund that I started in grad school and stopped after I graduated and couldn’t find a job (I cannot wait to replenish savings and build up retirement once I am debt free!).
What’s next for me? I could throw all my money at debt, including my savings, but I start to feel physically uncomfortable with anything less than 1k in my checking.
A) Stop saving and throw everything towards debt
B) Keep paying off debt, keep saving and start saving for retirement
C) Pay off debt and save for retirement
D) None of the above. Insert better answer _____________
What do you think? I want your opinions and expertise!