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  • Savings help

    We seem to have between 1400-850 between paychecks.

    The average is between 1100-900

    The amount varies due to insurance for autos and home.

    Can someone help me figure out how much extra I can save to the MMA?

    This is more of a psychological thing for me.

    I was thinking of sending 50.00 per week extra, then up it until I feel like I have a good balance.

    I save between 300-500 per month already to MMA.

    We do have some expenses due to our rental that can come anytime.
    I do not use credit cards for these (usually)
    Credit card debt - now that is another thread!!:

    Edited to add we have 10 K in MMA and my goal is alot more, 20K in 2008, can it happen?
    I am terrible at math but ok at paying bills on time and balancing a checkbook I can manage.
    Last edited by Frugalicious; 12-21-2007, 11:53 PM.

  • #2
    Ok. I'm confused. Are you saying you earn between $850 and $1400 per paycheck? Is that every 2 weeks? Or is that what you have left over after paying all your bills?

    You are putting between $300 and $500 into your MMA each month, correct?

    But then you allude to having credit card debt but didn't elaborate on that. If you have credit card debt, you need to be putting any spare money toward getting rid of that. It doesn't make sense to be saving $500/month in a MMA at maybe 5% if you are carrying a CC balance at a much higher rate.

    Give us clearer details and I'm sure we can give some better advice.
    Steve

    * Despite the high cost of living, it remains very popular.
    * Why should I pay for my daughter's education when she already knows everything?
    * There are no shortcuts to anywhere worth going.

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    • #3
      Ok everyone, my blog is up!

      I am ready to pay off some debt!

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