By FB @ FabulouslyBroke.com –
October 30, 2008Posted in: Money
Money Management
- Figure out what I want to allocate and where with my after-tax $70,000 that I will earn at the end of this year. I need to work this out some more. Here’s what I have so far:
- Living Fund ($1500/month x 12 months = $18,000 – this will pay for a year of living).. Although this should really be called a Savings or Emergency Fund, right?
- Retirement Fund ($12,000 to top it up to $30,000 (Book Value))
- Emergency Fund ($15,000 sounds healthy to me and this is for really unexpected problems)
- Travel Fund ($15,000 for Asia in 2009 but I think I want to go on a mini-trip to NY too)
- Moving Fund ($10,000 to get to Dallas, TX)
Debt
- Clear my remaining $13,000 debt once and for all in one shot (January 2009) *Waiting for tax purposes)
Retirement
- Move all my retirement funds to ING Direct (November 2008)
- Open an ING Tax-Free Investment Mutual Funds Account and deposit the maximum of $5000 (January 2009)
- Top up my retirement funds to $30,000 from $18,000 (Book Value) (January 2009)
Organization
- Get rid of all of my unnecessary books, comics and DVDs (November 2008)
Personal Development
- Get driver’s license (November 2008)
- Move to Dallas, Texas (2009-2010)
- Read more novels/books (will work through the list of 100 Classic Novels) (Life)
About the Author
Just a girl trying to find a balance between being a Shopaholic and a Saver.
I cleared $60,000 in 18 months earning $65,000 gross/year.
Now I am self-employed, and you can read more about
my story here, or visit my other blog:
The Everyday Minimalist.
Good goals – why are moving to dallas tx? i just got back from there!
Hi, would you mind on doing a post on why your transferring your funds to ING? What’s the diff?
Allison: Some sound really boring. I am contemplating actually finishing the list 😛
Anon: Totally valid complaint. But I can’t help it. It’s what I’m earning.
I AM going to change my name later to FORMERLY broke in the city, but that’s not until the end of this year when I’m totally done my debt.
I liked your blog when it first started and talked about paying off debt and trying to budget on a standard salary. Now it seems like all you talk about is how much money you make. Seriously, especially in these economic times it is very off putting to hear you talk about making $20k a month and call yourself “Broke.” Maybe change your blog title….
I made a list of books I want to read too! It was based on the 100 books you should read before you die.
I’ll admit – some of those I’m not reading.
stackingpennies: Yes I will do a post on it!!!!
Book Value = What I put into the retirement accounts like $18,000 but the actual market value is $13,000..
Aww thanks!! *blush*
amanda: Will answer 🙂
feli: Thanks! Oh! I’ll do a post on the 100 books too, and check out your list.
sounds like a great set of goals!
Good luck on your next driving test! I will be crossing my fingers for you.
I just did a post of 100 books to read because I want to read more too. Are you going to share your thoughts and comments about the books that you are going to be reading?
I gotta ask–why Dallas?
Dallas? Looks like you’ll answer why soon!
also what do you mean by “book value” of your retirement accounts?
I’m really amazed/impressed with the difference your new contracting stuff has made in your finances. Really, it has allowed you to make leaps and bounds. Bravo!
Sharon-rose: Thanks! I think I’ll donate them. I’ll try and sell my comic books and whatnot, but the rest will be donated to a good cause.
Compact: Oh really? Then move! 🙂 It’d be great to have another dallas blogger around…
Oh, I’m not worried about my retirement funds. A 30% drop is just virtual until you sell it 🙂
Anon: Thanks! Yes I will do a post about this because I get this question a lot 🙂
Debt: Thanks!
A fabulous list of goals!
those are some good goals, i’ve been setting goals lately myself so i can relate.
you keep talking about moving to dallas, is there a specific reason for it or just out of want? i don’t remember reading why you want to move and its making me curious.
I’m so jealous about the move to Dallas. Though Austin is where my heart is, Dallas is pretty awesome too. Have some Mi Cocina of Luna de Noche for me. At least I’ll be there for the marathon in a month and a half!
I commend you for being able to look at your retirement funds right now. I have a 4-drink minimum to load up google finance and see the 30%+ drop.
Hi there-great goals-will you sell your books or give them to charity?