Natural Hair and Other Kinky Stuff

Financial Freedom

  
You have already read about how I have been making it rain here. Today though, I am going to share with you the steps I have taken to get my finances in order to live with financial peace and freedom. I also included my 2016 financial goals as well.

Current:

  • Financial Peace University by Dave Ramsey
  • 40lk contribution slightly above the company match
  • Roth IRA
  • HSA max contribution
  • Electronic debit for all bills
  • No use of credit cards unless I can pay the balance in full every month
  • Automatic, direct deposit of 20% of each paycheck into a savings account
  • Emergency fund with 1 year living expenses in a high yield savings account (check out capitalone 360)
  • Paid off car and won’t have another car note for at least 3 years

2016 Financial Plans

  • Pay off student loans (start with the smallest one 1st and then move to the larger one using the snowball effect)
  • Increase charitable donations
  • Practice minimalism
  • Raise insurance deductible to lower monthly payment since my emergency fund can over the deductible in the event of an accident
  • Review life insurance policy
  • Study investing more critically and diversify financial portfolio as needed
  • Generate another source of income

What are your favorite saving and budgeting tips?

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~Thanks for Keeping it Kinky~

 

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For personal advice or business inquires, please contact me at callmekinky08@gmail.com

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