make a plan for financial independence

I hate what I see: everytime I get money, spending becomes way easier. It frustrates me so much. Just now I also had an very high phone bill…

I just don’t like to see that it seems like I have no true control yet in this.

God, could you please help me…?

xxx

Chellie_

i am no where near having a job or let alone have any financial independence. i am still under my parent’s care and sometimes under my bf’s care. i do hope though when i earn my degree and start working, i will one way or another make myself financially capable.

Got my first paycheck at the new job. Was able to pay off some of the bills and make payments on the rest. Not too much longer till the debt is gone and my savings account can start fattening up. It feels good to finally see progress

Money is in this world power, possibilities open with money. And I believe that being smart with your money, makes a lot more possible than when you aren’t. I want to be able to pay all things by the money I earned and eventually by that live on my own.

Chellie_

...to understand my finances, to set up a ‘rainy day’ savings plan, to set up a retirement savings plan, to set up a secure investment strategy (maybe treasury bills), to afford health-care (perhaps my own health/life insurance savings).

And then there is my family’s financial security. In terms of prioritizing, I should start with understanding finances so that I can communicate what I know to my family members. That way, they can begin to think about their own financial plans and I can feel less responsible for their financial futures.

I have created a budget-debt elimination plan, put it in an Exel worksheet to track my progress and am ready to get started! If I stick to it, I will have all of my “bad debt” paid off and only my school loans to go by the time I finish school and move in the next year and a half. Whoo hoo!!!

I feel fortunate at this juncture in my life. I’ve had financial pitfalls in the past but right now I’m doing well: manageable expenses which have decreased a bit over the past 2 years and a solid income. Not owning a car has been a nice way to free up cash for savings and monthly spending cash.

• own a house (no mortgage)
• 12 months expenses in the bank
• cashflow from conservative investments
• healthcare, taxes and recurring expenses planned for

Which means what? That I need $50,000/year post-taxes to live the good life? Or would I be happy with $2,000/mo in cashflow in addition to regular working income (as I never imagine myself not earning other income)?