Dear Jim_ohio,
[quote=jIM_Ohio;105018]
"Solution- within the budget you need to see what is a FIXED cost (mortgage), what is a RECURRING expense (satellite bill), what is a "variable recurring" expense (electric) and what is a mid term fixed cost (CC bills, car debt, revolving debt)... not to mention other necessities (groceries and gas).
I make my IRA a fixed expense, and try to budget this expense as high as possible (before the wife complains). $625/month for example. 4k comes in month 7, so the other 5 months are the emergency fund. If an emergency comes up in first 7 months, IRA payment is delayed one month. If no emergency comes up, then we pay down mortgage $625 in months 7-12 (also using some of this for xmas gifts).
An emergency fund needs to funded. Every year as part of the budget."
I'd like your points. Please explain it with more details. I am very interesting of your theory and would like to follow.
Sincerely,
jmerinka7
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