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Another Cool Contest..CIC's Biggest payoffs, and savers


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I was trying to think of a way to set some financial goals after gaining all this credit and the Big naughty word DEBT

Heres my goals and plan.

I have already paid off my lowest card and closed that account. I would like to continue paying off 10% of all my cards each month and adding extra payments to the rest of the cards to pay them off...

I would like a savings plan,maybe a 401K since I'm self employed...i do not have the option of matching contributions...but I can take the tax deduction.

I know I do not owe alot as I have alot of assets, but I have very little savings...so I was thinking of an online account that I can fund with Paypal...I use ebay so much and need to save 10% of that as well.

I don't plan to apply for anymore credit and I think my scores should improve alot next year using some planning ahead and concious effort.

I got a counting change jar for christmas, it's amazing now much money fits in a quart jar...I think it's around 68.00 right now....but it's exciting...I go around the house picking up change I would have ignored before. I think it will become and emergency fund...

I make so many cash transactions I usually come home with cash in hand everyday...thats hidden on my bedroom and is around 200.00 in just a few weeks.

And after hubbys eye surgery he is going to get a better job...that means a more stable income from him...he is part time right now.

So there it is

I want a 401K

My CC bills paid off and a good score

and online savings account with interest I hope

an emergency fund with at least 2 grand

I will post my progress and I hope we can get some good savings and investing ideas going...

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I saved $1 bills for 2 years on my first overseas stretch. When I went home it was just over $450. When I went to the bank to deposit it all, the teller geve me a funny look. I told her I was an exoctic dancer, it was all tips.

You're too damn funny! :ROFLMAO2:

My goal is to get a part time job when I get back. Nothing more than about 15-20 hrs a week. Take all those paychecks and just dump them into bills. Once everything is all caught up again I can either quit or start a small nest egg again for my kids' Edvest accounts.

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BOFA offers a keep the change savings account-it rounds off your ATM transactions to the nearest dollar and dumps the spare change into a "keep the change" account. Another way of painless saving if your local bank offers this.

Yeah, but if you go this option, you might want to request that they NOT make this savings account available to you online. Otherwise, it's too easy to transfer the money back into your checking account when you see a great pair of shoes. Not that I have any experience........ :oops:

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Yeah, but if you go this option, you might want to request that they NOT make this savings account available to you online. Otherwise, it's too easy to transfer the money back into your checking account when you see a great pair of shoes. Not that I have any experience........ :oops:

:LolPointUp:

Must have been some great lookin shoes. :lol:

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  • 2 weeks later...

Ok with the first week of january almost over, heres what I saved this week

100.00 by NOT buying groceries...I took an inventory of the pantry and freezer and decided to eat some of the stuff in there first.

Saved another 3.00 on a carton of smokes, thanks to basic coupons.

so for this week it was 103.00...I need one of those tracker things...

and I did purchase quicken home and business to get a better picture of my finances. 21.00 using paypal, so that does not count against my personal finances

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Yeah, but if you go this option, you might want to request that they NOT make this savings account available to you online. Otherwise, it's too easy to transfer the money back into your checking account when you see a great pair of shoes. Not that I have any experience........ :oops:

This is one of the bigger reasons I went with an Emigrant Direct online savings account. Transfers are quick (one business day for me) but they're not instant, so I can't just take the money and use it for an impulse buy.

My goals:

- 10% of my income into the Emigrant Direct account

- Finally paying off my last old CC (been working on that for 3+ years!)

- Settling a couple of old collections/chargeoffs

- Scores above 700 (just hitting 600 now)

- Being able to qualify for an airline rewards card

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I like ING Orance Savings account...I"m earning 4% APY currently - I"m not putting more into it until my util% goes down, but once they do....then saving up again!

I've got the max contributions into my 401k (up to the point my company will match) I've got a few grand in there already - I"m on my way!

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My goal which is to put $350 a month in my Roth IRA account.

This is a big huge goal for me.

sigh

I'm not comfortable putting money in a bank I might have to rethink this. LOL Just typing it out made me uncomfortable. Maybe I'll save the cash at home and stick it in at the end of the year.xdancex

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