New Chapter, New Financial Goals
As I embark on this new journey post-graduation, I’m excited to share my revised money goals that will shape my financial future.
Building an Emergency Fund
With a stable income and a clear financial direction, my top priority is creating a dedicated emergency fund. Drew, my partner, and I have agreed to save $5,000 each, totaling $10,000, to cover unexpected expenses. This collective effort will provide us with a sense of security and peace of mind. We’re aiming to reach this goal by the end of the year, and once achieved, we’ll focus on our next objective.
Saving for a Dream Home
While our emergency fund takes center stage, we’re also planning for the future. We’ve set a long-term goal to save $10,000 for a down payment on a home. This might take a few years, but we’re committed to making progress. Any surplus funds will be divided between our emergency fund and down payment savings.
Paying Off Debts
Next, I’m determined to pay off my car loan, which is tantalizingly close to being settled. By budgeting carefully, I’m confident I can eliminate this debt by the end of summer. Additionally, I’ll begin tackling my student loans in July, with a plan to pay more than the minimum monthly payment to minimize interest.
Living Within My Means
As I navigate this new chapter, I recognize the importance of living within my means. With increased expenses, such as rent and pet care, I need to reassess my spending habits. I’m taking a break from discretionary spending to focus on my financial priorities. Once I’ve established a comfortable routine, I’ll revisit my budget to make room for indulgences.
By achieving these five goals, I’ll be well on my way to financial stability and security, paving the way for a brighter future.
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