Just an update

iVillage Member
Registered: 07-24-2001
Just an update
Sun, 03-04-2012 - 1:25pm

I feel like I need to write this down to think it completely through.

iVillage Member
Registered: 10-28-2009
Sun, 03-04-2012 - 8:31pm

No such thing as overposting!

I think you have a good plan. And thinking about it often can help you better your plan all the time. You said you felt like your thoughts were unorganized. as time goes on, I think you will get into a groove and it will be second nature. Give yourself some time.

I think that funding your roth now is the way to go. Compounding interest is your friend. :) Especially since you have your debts in line and have a clear order to payoff. The only thing I would maybe suggest is cutting back on youf $300/week into your efund. Maybe take all or some of that money and apply it towards your credit card and then your HELOC.

Keep in mind, although it's not ideal, you can withdraw your original contribution at any time for any reason without penalty, from your roth. So, if in the event that your healthy EF wasn't enough, you could tap into your roth.

You are doing great!!

iVillage Member
Registered: 11-14-2008
Mon, 03-05-2012 - 12:03pm


iVillage Member
Registered: 07-24-2001
Mon, 03-05-2012 - 7:03pm

Thank you both for your feedback.

It sounds like I'm right there with you guys on your suggestions.

Part of the reason I put my cash into the Roth fund is because it does provide a saftey valve in case I would have to access cash to cover something unexpected and significant.

I feel like I need a "healthy" e/f because we drive old, high milage cars.

iVillage Member
Registered: 12-10-2009
Wed, 03-07-2012 - 9:44pm

I like your idea of funding Roth IRAs. I am planning on doing that once we have 2 loans taken care of which will probably be next year.

How did you decide which Roth to do? I find that part kind of confusing.

I also think it is great that you have a hefty e-fund. That is hard for us so I just put all extra $ towards debt so that we are not tempted to spend it which isn't the best solution but works well for now.


student loan paid off 2010

Bathroom remodel loan paid off 2013

Pending Car loan to be paid by the end of 2014!!!!!


iVillage Member
Registered: 11-15-2011
Wed, 03-07-2012 - 11:24pm

I think that you have a good plan!

iVillage Member
Registered: 12-31-2010
Sun, 03-11-2012 - 7:45pm
Bumbling -
There are definite parts of your plan I like and empathize with. I think the Roth is a good idea and I consider retirement savings as a business expense, something that just comes off the top without thought.
Paying off a CC with interest is smart too, and I agree with a PP that forecasting a payoff of the one with interest two months prior to that date elapsing will keep you on target in case of issue.
The other thing I do is one large emergency fund as opposed to sinking funds. I and DH both buy stock, so those accounts are kind of like really super efunds we can get to if we need a couple thousand, but I also put $100 a month into an emergency fund.
I just do like to concentrate on one debt at a time to throw money at, as I just need one focus point at a time.
Good job overall, however we get there, at least we are moving in the right direction.