Recent milestones?

Non-investing personal finance issues including insurance, credit, real estate, taxes, employment and legal issues such as trusts and wills
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minneapples
Posts: 43
Joined: Fri Jun 10, 2011 10:51 am

Recent milestones?

Post by minneapples » Thu Apr 13, 2017 2:47 pm

I love reading about other people reaching financial milestones, but I'm always reluctant to post mine because I feel like individually they don't really merit their own threads. I thought maybe others would like a rolling thread where anyone is welcome to post their most recent financial milestones, no matter how small or unconventional.

Here's ours: Within the last four months, through a work bonus, tax refund, and regular extra payments, we've paid off two car loans and my husband's student loans. That's about $500 a month in additional cash flow. Our only remaining debt is our home mortgage. This is the first month we haven't had any of those other payments, and it feels really good. For now the extra money is going to savings, but there's a possibility that within a year one of us will make a job change to a slightly lower paying job with less stress and schedule unpredictability, so paying off those obligations gives us extra financial flexibility to be able to make that change.

Anybody else?

bloom2708
Posts: 4907
Joined: Wed Apr 02, 2014 2:08 pm
Location: Fargo, ND

Re: Recent milestones?

Post by bloom2708 » Thu Apr 13, 2017 2:53 pm

Congrats! You're debt freeeee-dom! (except the mortgage)

A good step. If you follow the Dave Ramsey "baby steps", build your Emergency fund, save 15%+ for retirement and keep working on the mortgage.

We are approaching 10 years of "debt freedom" in August 2017. When all your income is yours to save/spend/give, your net worth moves upward pretty good.
"We are not here to please, but to provoke thoughtfulness." --Unknown Boglehead

misscourtneyk
Posts: 40
Joined: Mon Dec 19, 2016 11:42 am
Location: The Great South

Re: Recent milestones?

Post by misscourtneyk » Thu Apr 13, 2017 3:29 pm

This is small but I just maxed out my Roth IRA for the first time! Not a huge deal I guess but it's exciting to be able to max out anything related to retirement. I'm only just getting starting my career after college.

Great idea for a thread!
Money is only a tool. It will take you wherever you wish, but it will not replace you as the driver.

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