Okay, day..ummm 4, still no budget.
I know, I know, I suck. I’m going to do it today. Things aren’t that hectic, so I should have time to squeeze it out between document review. I’ll keep you posted 😉
I thought I’d jot down some of my KEYS TO SUCCESS…since I’ve been driving down the road to financial improvement (what a dork, I am…I know).
Its just a list of things that have helped me to majorly improve my personal finances. You ready? Here goes:

a)Establish an emergency fund, in a liquid account (something you can access freely) but not too liquid – like an ING account. You’re emergency fund should be approximately $1000 to start off with. Then you can increase it to 3-6 months of your monthly expenses.

b) make a monthly CASH FLOW PLAN (or Monthly Grind as us cool folks like to call it) and plan out where EVERY penny goes – it should all be accounted for (ha ha…even though I haven’t finished this for August)

c) pay all credit cards, loans, and any other thing reported to the Credit Bureau ON TIME…no ifs, ands or buts about it.

d) have a little money each month that you BLOW…but plan for it.

e) budget in the things you like into your budget, otherwise you’ll go crazy…

f) credit cards (this is if you’re trying to improve your credit score) – there are things you can do it change it. One is keep your credit cards below 35% of the available credit limit. This will significantly boost your score, if you do it (TRUST ME); Remember to pay your cards on time; never close your oldest card, this shows you have a long history of credit. Sometimes TIME is the only thing that can improve your score; and lastly, have a healthy mix of revolving loans and credit cards. Remember – many inquiries over a short period of time can reduce your score. However, when shopping for cars, credit inquiries within 14 days for the same type of loan are only considered “1 hit” on your report and won’t lower it too much.

It sounds so boring, doesn’t it? But it’s true…and the only way to improve your scores is to be patient, diligent, consistent and timely. Ignorance is not bliss when it comes to your credit score, it could possibly RUIN your chances and getting what you want out of life.

Personally, I’ve lived a life where my credit history was limited and life is NOT as good as it is when your history is longer and better 🙂 I used to get that dreaded feeling when it came to credit. Life is much different on the other side…trust me 🙂 There are perks to being part of this club and benefits that you want to take advantage of.

I’ve now come to the conclusion that I’d rather pay for things in CASH…credit’s fine and dandy and I understand that’s how the world works, but having little debt has made my soul soar! I know I differ with a lot of people when it comes to that, but when you finally get financial peace – you can dig what I’m saying…..Word..or whatever…

Goals for myself…

I was reading my home girl’s blog and I had already started a draft of goals, but I figured I should just incorporate them into my “tips” blog.

I’ll do them by year I guess….

By the end of 2008

  1. pay off all credit cards to 10% or less (all of my cards are at 0%-20%)
  2. save $5000
  3. contribute 10% to my 401(k) (I’m currently at 7%)
  4. pay $125/month for my Jamaica vacation
  5. update my monthly budget as needed

2009

  1. complete FM class for my $12,000 housing benefit
  2. save $10,000 – total of $15,000
  3. pay off Jamaica vacation by April 16, 2006 – save additional $500 for spending
  4. BUY A HOUSE BY YEAR’S END 🙂

I guess that’s all for now – of course I have to update this all…b/c I will probably be planning for the ‘future,’ whatever that entails (da dum da da…girls/guys lined up shortest to tallest, lol). But that’s a WHOLE ‘nother blog within itself. For now, I will focus on me and my immediate goals and you know my theory, if Mr. Prince Charming aka T decides to Happily Interrupt – I’ll be ready….

In the meantime, I’m getting my house in order. What type of woman are you, if you don’t have something to bring to the table? Just as I expect my boo to be financially equipped and savvy…I demand the very SAME for myself!

All the women, who independent – THROW YOUR HANDS UP AT ME!!! – Beyonce (and ‘dem)

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