I came up with a post-CC budget and talked it over with my financial planner (FP). Being the awesome person that he is, he asked questions about what my goals and aspirations were, then made suggestions for what I should do with my money to reach those goals.
Here's what we decided:
What I'm doing: From this post I'm doing A, G, 4, 2 and C... in that order. (E and 6 have nothing to do with my life right now. LOL!)
How I'm doing it:
- A: About 2/3 of the CC loot will be automatically deposited into a long-term savings account for my "emergency fund" (EF). It'll probably take the full year to save up 6-8 months of "living expenses." So 2012 is all about the EF. Once that money is in place, it shall not be touched. (P.S. I already put my entire tax refund into my EF. Yes, I got my return back already. Yes, I'm still disciplined. Who's proud of me?)
- G: About 1/3 of the CC loot will be automatically deposited into short-term saving and used at leisure for... trips on trips on trips.
- 4: In August, I am moving out of the cracker jack box that I now call home. It has absolutely served it's purpose in saving me money. Now I will aim to live AT my means instead of grossly below them. I can't wait to decorate, entertain and most of all enjoy coming home.
- 2: This is a long-term goal. [Unknown asked if I had federal or private student loans. Girl, both! *assuming you're female.] That hoe Sallie Mae is really sticking it to me, but since 2012 is the year of the EF, I've decided that paying students loans off will have to be a longer term priority.
- C: Once I have six months of living expenses saved from A (see above), I'll parlay A (2/3 of the CC loot) into mid-term savings for a down payment on somebody's property somewhere. This will likely be 2013[and beyond]'s goal. A key takeaway from my financial planner is that I should focus on purchasing if I know I want to be somewhere for another 5,7, 10 years. That's not my life right now, so I'll put the money away slowly, but I plan on renting for a while.
Not to worry. I'll keep you posted on whether or not I'm meeting my EF goals. You all will still keep me accountable for doing what I said I was going to do.
I now need about four weeks of good blog topics. What do y'all want to discuss (besides the election, because you know I'll have posts coming up on THAT!)?