Become Financially Independent

Things I still need to do:
1. Get all my credit cards paid off.
This is more than halfway achieved, as of right now.
2. Set up a retirement account above and beyond my work pension.
This is done.
3. Get a safety deposit box.
Not yet…
4. Figure out my insurance requirements once and for all.
Will do this after I graduate and have some free time.
5. Save one years worth of emergency money.
We have 1000.00 between us and plan to try to get to 10,000, if all goes well.
6. Start making more of the food from scratch.
Again, after graduation.
7. Get a more lucrative job.
Same as above.

So, getting there or done on about half of these. Could be worse.

Balances for credit cards under 5000 finally. One is paid off and closed out completely, which is a relief. I know it will ding my credit a bit, but I don’t need to apply for any kind of loan anytime soon and I won’t be moving right away, so it’s better than it sounds.
Student loans are coming due in June, but I will be paying double on them from the start. When the last credit card is completely paid off, I will use the money that was going to paying that off to the student loans.

Husband just recently suggested that we merge bank accounts. We have one joint, one separate for each of us. Can anyone give me feedback if you’ve done this and how it worked out for you? It would be much appreciated.

Just got the approved loan app for a lower interest credit card. I plan to use it to transfer a balance from my highest interest card to this one, which is running a special of 2.99% for 6 months before it reverts back to 9.9%, a point lower than my old card. It won’t get totally paid off before that, but I can make a much bigger dent in it at this rate than I am managing now. The interest is eating almost half of what I pay every month. Then I’m never going to use either one of them again, just pay off what remains.

I signed up for my work’s deferred compensation retirement plan. That was a New Years resolution and it’s now in force. I arranged for them to take 10% every paycheck, which is what people in their 30’s are supposed to shoot for. It’s going to be hard to adjust to that kind of bite out of my paycheck, but at least there was a cost of living raise that will make it hurt a bit less. I feel good about having done it.

Things I’ve done so far:
1. Set up sub-accounts for specific expenses and set aside a percentage of every paycheck to fund them.
2. Set up an emergency account.
3. Stopped buying unnecessary stuff and only bought what I needed (food, mended or replaced clothes that were worn out).
4. Grouped all errands and grocery shopping into 2x/month trips, minus emergencies such as doctor or vet visits.
5 Thrown as much extra money as possible at my credit card debt.
6. Traded to get a bicycle for a piece of furniture to use when the weather improves and save even more on gas/car wear and tear.
7. Gone back to school to improve my earning power when I get my degree.

Things I still need to do:
1. Get all my credit cards paid off.
2. Set up a retirement account above and beyond my work pension.
3. Get a safety deposit box.
4. Figure out my insurance requirements once and for all.
5. Save one years worth of emergency money.
6. Start making more of the food from scratch.
7. Get a more lucrative job.