I think you've got a good plan to start with--definitely get the CC's paid off ASAP, which will help your plan significantly. For now, I would focus primarily on the EF, but also don't totally abandon the personal retirement plan (is it a Roth?). If you only have $100/mo to split between the EF and retirement, I would send $75 to EF, $25 to retirement. Try to reduce your expenses so you can start saving more, I'd say 3:1 ratio of EF:retirement. Once your EF is about 3 months' worth of expenses, move the ratio down to 2:1. Once the EF is 6 months' worth, make the ratio 1:1. Since you're wanting to save a downpayment, maybe start separate account, and start building that one up once your EF is up to 6 months. That way you get your EF built up to where it needs to be, but are still contributing to your retirement plan.
Also, once you pay off all of your debts, make sure to roll those monthly payments into your savings plan.
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"Praestantia per minutus" ... "Acta non verba"
Last edited by kork13 : 03-22-2009 at 08:12 AM.
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