I am 46, single, no kids. I am a health care professional. I feel that I'm generally a very good saver and a not so good budgeter - hence the credit card debt payoff I worked through in 2020.
My personal finance goals for 2024:
1. Contribute maximum to Thrift Savings Plan. This is a recurring goal that I’ve accomplished every year since 2008.
2. Contribute maximum to Roth IRA. This is a recurring goal that I’ve accomplished every year since 2001.
3. Pay off credit cards. Completed January 2021. Now the strategy is to pay off my credit cards monthly with no balance carryover.
4. Build up emergency & long-term savings. I completed my initial goal in April 2021. I have 3-6 months of expenses saved at this time & I continue to save for my next car purchase, which is hopefully many years away. I use high yield savings and CDs.
5. Invest in brokerage account. I started with the proceeds from selling my condo & have added monthly. This account is for a future down payment when I purchase a home again.
6. Give to church monthly. I attend two churches right now so I alternate my monthly offerings.
7. Give to charity monthly. Food banks are my preferred charity to give to. I have automated my charitable donations at work to give with my biweekly paychecks.
8. Apply for promotions as they become available. Right now I’m very happy in my current position, so this isn’t much of a goal currently. I have received several raises, I enjoy the work I do, & the people I work with…I’m very happy to stay where I am.
9. New goal for 2024! Build new home with $100k down. This will be funded from my brokerage account & cash savings. 🏡
Because this is a finance blog: the final price was $335,874 including upgrades. The base price was $321,990. I put down 40% to keep my monthly payment manageable. The mortgage is $1,207 and they also escrow the homeowners' insurance and property taxes. I pay the HOA separately. I think it's $800 for the year. They paid the HOA start-up with closing costs.
I am 46, single, no kids. I am a health care professional. I feel that I'm generally a very good saver and a not so good budgeter - hence the credit card debt payoff I worked through in 2020.
August 10th, 2024 at 12:54 pm 1723294448
August 10th, 2024 at 04:49 pm 1723308569
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Price breakdown from my closing documents:
$1,207 mortgage
$370 escrow payments
-$261 taxes
-$109 insurance
Total Monthly Payment $1,577
August 13th, 2024 at 12:14 am 1723508099
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August 29th, 2024 at 05:19 am 1724908772