Goals Sept 2012 - 2013Starting Sept 2012:
#1 Have 12 Month Emergency Fund
Escrow $3600 (Might need to adjust higher)
#2 Start AutoFunding Car replacement/repair $250 per month
#3 Start Roth IRA AutoFund $416.65 per month
#4 Increase TSP % to 10% ($3537 per year, $294.75 per month)
#5 Set up an "automatic" extra principle payment to Mortgage (estimate 1K monthly)
#6 Manually or Mail additional principle to Mortgage Loan (extra money at end of pay period (Wiggle Room, BF Rent, CS), rebate, tax returns etc).
*** I did the math and IF I get gazelle intense (1K) starting Oct 5, 2012 I can have my mortgage paid in full within 7.5 years May 5, 2020.
My Income = $3886.89
My Bills = $2605.37
Extra Principle Auto = $1,000.00
Wiggle Room = $281.52
BF Rent = $600
CS = $319.90
* The left over would be what would fund #6. There will be months with additional expense such as gifts or school supplies and or clothing so I want to play the amount that is applied to #6 month by month.
I don't want to include BF Rent or CS in the Income section incase I don't get them. See CS is often not paid ontime anyway so I don't want to start to rely on it. BF has not started paying Rent YET, and I also do not want to rely on it incase he would deside to move down the road. I was married for 8 years, then got divorced...Just I am not ready to say this relationship will last forever. Also either one of us cold die tomorrow and then poof..Plan over.
The plan is now that BF rental aggreement is finally over he will pay the utilities and the difference of the $600 will go into a seperate savings account (Starting August 2011) for house emergencies such as repairman etc while I am deployed, then once I get back the money in the savings account will be used to pay for materials to build a deck.
IFFFFFF I put 1920 to the Mortgage (BF and CS) and only used the $281.52 wiggle as my cushion I could pay off my Mortgage in 4.5 years or May 5, 2017. So it depends on how INTENSE I am willing to get.