Posted in Frugality
Well it has been about 6 months since I seriously began looking at how we use the money we have in our daily lives. Doing this has caused us to begin to look at money in a whole new way. One of the first things that we did was create for ourselves a budget. And even more than that, we stuck to it. It was no longer a dreadful thing to look at our bills each month. Once we were able to pay off all of our credit debt that we had acquired it was actually an exciting time for us. It is a lot more exciting to do your bills when you have the finances to do them with. Our credit debt had taken over our financial lives and begun to put the strangle on us like a python. So once it was finally gone it was like a refreshing breath of air for us.
Now that we have finally gotten our bills in order and under control. I think that it may be time to move on to the next step in financial responsibility. Rich works for a union now that offers a pension that is really great. But as we have seen in the news that last couple of years, you can't count on a company or union to be there necessarily when it comes time for you to retire. So we are thinking that one of our next steps should be some type of retirement.
We also have heard that it is a good idea to have an emergency savings account that is equal to six months of pay. I am sure that this may seem like an impossibility to some people. I know it did to us just six months ago. But now we have started to put the money we would have spent on our credit bills into a savings account.
lastly we are thinking that with Kalene getting closer and closer to entering college, we should be putting away money for that. I know we should have thought of this a long time ago. But we basically were very irresponsible financially. We are not sure what kind of educational savings account we should choose.
There is so much to think about. We do we go next? Maybe we will seek some advise from a financial advisor. Have you ever used a financial advisor?
