My top financial priority is to pay off my student loans! Starting with the $45k in private loans, then moving on to tackle at least one of the $75k federal loans before buying a home.
Actually just to expand on your first method - Write About It, you don't necessarily even have to write about your travels. I first started making money online by writing articles, then complete ebooks.
A 50-60 page ebook earned me between $200 and $300 and all it took was a couple of days' work doing the research, then the actual writing. At the time I was in a country where the average monthly salary was about $400 so you can imagine that a few days' work went a long way.
So don't think you ONLY have to write about travel, or the country that you happen to be in. If you can write good English, and you know how to research a subject, then you can easily earn a "mobile income".
Have a look on sites like Rentacoder and Elance, I'm sure there are many more these days!
My top priority right now is to pay off all my non-mortgage debts. I have two teenage boys and I want to be in a better position to be able to help with their college costs, something that won't be possible if I am spending so much on credit card debt.
I agree that if you use the Snowball Method, you're probably not concerned about numbers. Otherwise, you probably wouldn't be needing to get out of debt to begin with.
I'm happy to hear that it worked for you. Congrats on sticking to the plan.
My top financial priority right now is to begin building an emergency fund of 3-6 months income. as a single mom with 3 teenage daughters, emergencies ALWAYS happen!
Our current financial priority is to get out of the credit card debt we recently stumbled upon. Once we do that, we will be back to focusing on living within our means and paying off our vehicles.
Currently my top financial priority is to save enough money for a house of my own. Basically my money reflects this by having a CD ladder already setup for an emergency and maxing out my retirement accounts each year. That leave money in my general back accounts to be allocated towards the house goal.
My top financial priority is making sure I have enough money to retire comfortably but to do so without stressing about it and while enjoying my life before retirement. I hope to retire next year.
I see gold as a wealth insurance. With a swoosh of an economic catastrophe, everything in your portfolio – stocks and bonds – will take a nose-dive, but gold appreciates in value during such times. This is why I rolled over my 401K to gold-backed IRA. It reduces the vulnerability of your portfolio against stock market crash and plummeting purchasing power of dollar. This infographic explains it really well http://www.meritgold.com/ira
I think I would have to say right now our top priority is pay all the bills, save what we can, but saving for our family trips is a huge priority for me. Our kids learn SO much on our trips, I can't wait to take them to Europe in a few years!! (Almost done saving for that !! :D
My financial priority is to pare down on my annual expenses and improve my retirement savings strategy. I'm 34 years old and began my retirement savings with my first on-campus college job. I tried to max out my IRA contributions each year, and in doing so created a small nest egg with the bonus of developing a good relationship with my investment banker. I still use this banker today, and he's seen me graduate, get my first job, etc. Although I've moved across the country, he still checks in with me several times each year, and continues to guide me through the uncertainties of economic changes. This year I checked in with him early on and requested his professional advice on improving my retirement strategy. It was an eye-opener.
Each year, I begin to look at next year's budget based on the current year's expenses. How much were my essential expenses like insurance, housing, transportation, etc. What were my big ticket items? How much was spent on the "I Want" category vs. "I Need" category? How much did I manage to save? Although I'm sure other people can do this faster, I take my time - months in advance as I do a self-analysis, check for better rates and deals, and re-arrange my finances to prepare for January 1st. The toughest part for me in the process is the self-analysis - it can be rather painful. Excel is my go-to software, as it's widely available and completely customizable. Once expenses are organized by list/category and even charted, you will be able to get a clearer picture of where your money is really going.
Hopefully, I have nine more years until retirement. My top priority is to save for a home. I've been a renter my whole life, and would like something that is paid off to live in.
I think networking is a great way to get a job but it's certainly not the only way. I agree with that! The internet has lots of job postings and opportunities too, with the right skill set, resume, and cover letter.
My TOP financial priority is to pay off my mortgage ASAP.
Right now, I've planned to pay it off in 14 years but I keep budgeting to cut my costs and put all extra money (except for my emergency fund) on my mortgage. I've prioritized my mortgage my cutting my monthly costs and only buying what I need.
It's not always easy and we all have our vices but so far, it's working for me! I also write about paying off my mortgage and read other personal finance blogs about paying off the mortgage early. Both of these inspire to me keep at my goal, even though it will take YEARS!
I believe those who advocate automation first need to consider the overall earnings of the individuals into account also. What good automation is if you are earning less than your expenses? automated transactions may divert funds to activities which you may delay considering your tight financial situation. A more wise approach would be to exercise discretion while automating finances.. channeling money where it can offer maximum benefits and overall welfare...r
I actually prefer the method of turning the tables on the banks by using a system like ShredMyMortgage.com. It's a turbocharged snowball using short-term leverage to pay large chunks of your debt at a time. Think "use Discover all month long for the points and pay it off every month" on a grander scale.
"If you need to see the visible progress of having a debt paid off and you're not as concerned about numbers, then the Snowball Method may work for you."
The plain hard facts are that really, you *haven't* been that concerned about numbers- or else you wouldn't be needing to climb out of debt (certain situations aside).
Snowball method worked great for my situation, and in the long run, it may not have cost more interest wise because it was easier to stick to the plan. There was no starting and stopping (or worse yet, comfort consumerism backsliding) because the progress was too slow -which had happened before using the Avalanche method.
At the moment, our top (biggest) long term priority is for a house; we're nearly cashflowing the cost of a wedding this year!
My top financial priority is to pay off my student loans! Starting with the $45k in private loans, then moving on to tackle at least one of the $75k federal loans before buying a home.
Actually just to expand on your first method - Write About It, you don't necessarily even have to write about your travels. I first started making money online by writing articles, then complete ebooks.
A 50-60 page ebook earned me between $200 and $300 and all it took was a couple of days' work doing the research, then the actual writing. At the time I was in a country where the average monthly salary was about $400 so you can imagine that a few days' work went a long way.
So don't think you ONLY have to write about travel, or the country that you happen to be in. If you can write good English, and you know how to research a subject, then you can easily earn a "mobile income".
Have a look on sites like Rentacoder and Elance, I'm sure there are many more these days!
My top priority right now is to pay off all my non-mortgage debts. I have two teenage boys and I want to be in a better position to be able to help with their college costs, something that won't be possible if I am spending so much on credit card debt.
Paying off federal student loans and building an emergency fund!
I agree that if you use the Snowball Method, you're probably not concerned about numbers. Otherwise, you probably wouldn't be needing to get out of debt to begin with.
I'm happy to hear that it worked for you. Congrats on sticking to the plan.
My top financial priority right now is to begin building an emergency fund of 3-6 months income. as a single mom with 3 teenage daughters, emergencies ALWAYS happen!
Our current financial priority is to get out of the credit card debt we recently stumbled upon. Once we do that, we will be back to focusing on living within our means and paying off our vehicles.
Currently my top financial priority is to save enough money for a house of my own. Basically my money reflects this by having a CD ladder already setup for an emergency and maxing out my retirement accounts each year. That leave money in my general back accounts to be allocated towards the house goal.
Robin, the link to the TV takes you to the product on Amazon that is currently $3000 off the list price.
My top financial priority is making sure I have enough money to retire comfortably but to do so without stressing about it and while enjoying my life before retirement. I hope to retire next year.
Pay off our mortgage. Then, with the cash flow, fully fund our retirement accounts and save for a new rental property.
Good luck to all with their goals!
I see gold as a wealth insurance. With a swoosh of an economic catastrophe, everything in your portfolio – stocks and bonds – will take a nose-dive, but gold appreciates in value during such times. This is why I rolled over my 401K to gold-backed IRA. It reduces the vulnerability of your portfolio against stock market crash and plummeting purchasing power of dollar. This infographic explains it really well http://www.meritgold.com/ira
I think I would have to say right now our top priority is pay all the bills, save what we can, but saving for our family trips is a huge priority for me. Our kids learn SO much on our trips, I can't wait to take them to Europe in a few years!! (Almost done saving for that !! :D
My financial priority is to pare down on my annual expenses and improve my retirement savings strategy. I'm 34 years old and began my retirement savings with my first on-campus college job. I tried to max out my IRA contributions each year, and in doing so created a small nest egg with the bonus of developing a good relationship with my investment banker. I still use this banker today, and he's seen me graduate, get my first job, etc. Although I've moved across the country, he still checks in with me several times each year, and continues to guide me through the uncertainties of economic changes. This year I checked in with him early on and requested his professional advice on improving my retirement strategy. It was an eye-opener.
Each year, I begin to look at next year's budget based on the current year's expenses. How much were my essential expenses like insurance, housing, transportation, etc. What were my big ticket items? How much was spent on the "I Want" category vs. "I Need" category? How much did I manage to save? Although I'm sure other people can do this faster, I take my time - months in advance as I do a self-analysis, check for better rates and deals, and re-arrange my finances to prepare for January 1st. The toughest part for me in the process is the self-analysis - it can be rather painful. Excel is my go-to software, as it's widely available and completely customizable. Once expenses are organized by list/category and even charted, you will be able to get a clearer picture of where your money is really going.
Hopefully, I have nine more years until retirement. My top priority is to save for a home. I've been a renter my whole life, and would like something that is paid off to live in.
I think networking is a great way to get a job but it's certainly not the only way. I agree with that! The internet has lots of job postings and opportunities too, with the right skill set, resume, and cover letter.
My TOP financial priority is to pay off my mortgage ASAP.
Right now, I've planned to pay it off in 14 years but I keep budgeting to cut my costs and put all extra money (except for my emergency fund) on my mortgage. I've prioritized my mortgage my cutting my monthly costs and only buying what I need.
It's not always easy and we all have our vices but so far, it's working for me! I also write about paying off my mortgage and read other personal finance blogs about paying off the mortgage early. Both of these inspire to me keep at my goal, even though it will take YEARS!
Our top priority is paying debt down.
Paying off Student Debt!
Another accessory I love? Buttons! Just changing the buttons can transform a boring cardigan into a fun one. Cheap, simple and super-stylish.
I believe those who advocate automation first need to consider the overall earnings of the individuals into account also. What good automation is if you are earning less than your expenses? automated transactions may divert funds to activities which you may delay considering your tight financial situation. A more wise approach would be to exercise discretion while automating finances.. channeling money where it can offer maximum benefits and overall welfare...r
Correlation does not equal causation. It is the one concept that was drilled into my head in Psych 101, but it seems to apply here.
I actually prefer the method of turning the tables on the banks by using a system like ShredMyMortgage.com. It's a turbocharged snowball using short-term leverage to pay large chunks of your debt at a time. Think "use Discover all month long for the points and pay it off every month" on a grander scale.
"If you need to see the visible progress of having a debt paid off and you're not as concerned about numbers, then the Snowball Method may work for you."
The plain hard facts are that really, you *haven't* been that concerned about numbers- or else you wouldn't be needing to climb out of debt (certain situations aside).
Snowball method worked great for my situation, and in the long run, it may not have cost more interest wise because it was easier to stick to the plan. There was no starting and stopping (or worse yet, comfort consumerism backsliding) because the progress was too slow -which had happened before using the Avalanche method.