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Thursday, February 28, 2008

FPU: The Baby Steps

The Baby Steps:
  1. 1,000 to start and emergency fund
  2. Pay off all debt except the house utilizing the debt snowball strategy.
  3. Three to six months of expenses in savings
  4. Invest 15 percent of household income into Roth IRAs and pre-tax retirement
  5. College funding for children
  6. Pay off home early
  7. Build wealth and give!
My family is working on Step 2. We'll be there for a while, at least until mid year 2010.

4 comments:

erin said...

Wonderful. Keep up the good work!

Carla Stream said...

I don't know, Pat. What if we challenged ourselves to be debt-free sooner than that?? Go Stream Team!

Jason said...

Sell so much stuff that the kids get nervous!

Pat Stream said...

I've been walking around the house snaping pics of a possible items. I keep telling the kids to scoot!