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Road to Financial Independence 500K

 
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Derri View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Derri Quote  Post ReplyReply Direct Link To This Post Posted: Jan 03 2014 at 5:36pm
IMO you should have done what was financially smart if you wanted to save more money or pay down your debt.
I'm thinking of moving to NYC again but...the cost of living is just like Toronto but housing is just ridic and living with my father or sister is not an option.
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GoodGirlGoneGr8 View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote GoodGirlGoneGr8 Quote  Post ReplyReply Direct Link To This Post Posted: Jan 03 2014 at 6:00pm
You're right.

And I'm still contemplating waiting a little while before moving so I can pay my debt off and be in a better position financially. The last thing I want to do is accrue new debt on top of what I already have.

I just REALLY miss my family though. My mom moved back to help take care of my aunt, and I've never lived this far from her...so that's why I'm kinda pressed.

My job has a pretty seamless transfer program though, so I'll have a job in place in the event that I do move. But I know my chances of paying off my debt while living in NY would be slim to none.
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Post Options Post Options   Thanks (1) Thanks(1)   Quote Derri Quote  Post ReplyReply Direct Link To This Post Posted: Jan 03 2014 at 6:08pm
Sometimes we have to do something uncomfortable now, in order to be comfortable later.
I feel the same way about leaving my mother to go anywhere or do anything, but i've decided to put my big girl panties on and secure my life.

It's a thin line, because life is so fragile and you never know when it will leave you. I'm a workaholic and try to find a balance. I never want to put money over family, at the same time family needs money. Right now i'm focused on some thangs so I got to ignore the discomfort, or else i won't get to the next level. If you're comfortable, you're not growing..and i'm just too young to stop growing.


Edited by Derri - Jan 03 2014 at 6:10pm
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sexyandfamous View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote sexyandfamous Quote  Post ReplyReply Direct Link To This Post Posted: Jan 03 2014 at 6:47pm
Originally posted by SoutherNtellect SoutherNtellect wrote:

anybody working on this in 2014?

yea i bumped it


I am working on having money, a career but not concentrating in an amount, although 500k would be nice.
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SoutherNtellect View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote SoutherNtellect Quote  Post ReplyReply Direct Link To This Post Posted: Jan 03 2014 at 10:15pm
i literarily have nowhere to put shoes or clothes. trying to avoid the fashion threads and not buy any 
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Post Options Post Options   Thanks (2) Thanks(2)   Quote yaya24 Quote  Post ReplyReply Direct Link To This Post Posted: Jan 03 2014 at 10:20pm
Wonderful thread!

2013 my savings account "saved" me when I lost my job in June.. I've been at a new job since late August, but I plan on leaving them next week.  I start a new job Jan 20th.

I need to get my money life back in order. I currently have money in a Roth IRA which is managed my my financial advisor & his team, a money market and a couple of  checking accounts.

No credit card debt (but I do use credit cards daily for my living expenses- for the miles/points).
My biggest debt is my mortgage.. which I have no intentions on paying off within the next 2 years. It is part of my 7-10 year plan though.

Plan of action by EOY 2014:

Open 401k with new job
Pay off car
Aggressively work toward paying off undergrad student loan debt
Generate income from my side hustle
Stay Frugal
Cancel cable
Cancel gym membership
Cut down on eating out = pack my lunch
No wig purchases in 2014 lol


Plan of action by EOY 2015

Undergrad student loan completely paid off
Start paying off grad school loan
Continued growth with side hustle
Stay Frugal
Cut down on eating out = pack my lunch
Save 1/3 of paycheck
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Post Options Post Options   Thanks (0) Thanks(0)   Quote EPITOME Quote  Post ReplyReply Direct Link To This Post Posted: Jan 03 2014 at 10:21pm
i am trying to not buy stuff...i have enough
i should concentrate on getting in shape not on buying things
i have a list of things i want...i want to stick to that list and save the rest
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Post Options Post Options   Thanks (0) Thanks(0)   Quote SoutherNtellect Quote  Post ReplyReply Direct Link To This Post Posted: Jan 03 2014 at 10:35pm
Originally posted by EPITOME EPITOME wrote:

i am trying to not buy stuff...i have enough
i should concentrate on getting in shape not on buying things
i have a list of things i want...i want to stick to that list and save the rest

*resists urge to ask what*
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Post Options Post Options   Thanks (0) Thanks(0)   Quote sexyandfamous Quote  Post ReplyReply Direct Link To This Post Posted: Jan 03 2014 at 11:56pm
yaya's list just proved to me how unprepared I am...
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Up&Out39 Quote  Post ReplyReply Direct Link To This Post Posted: Jan 04 2014 at 1:33am
Originally posted by .hott.pink. .hott.pink. wrote:

Originally posted by alynxx alynxx wrote:

Originally posted by binky622 binky622 wrote:

I like this table for short term savings goals or for folks that want to start off slow with saving:

Hey Binks! I have printed this and will totally be doing it!

This was all over Instagram in January.  

Some people reversed it--they started off saving more ($52 in week 1) then saved less and less to free up cash for the holiday season.

It gets you to the goal but I'm not sure it establishes good habits when done like that. 

Can someone repost this table if they remember how it looked like. I'm very curious on how it was used...

TIA
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