As the new year has started, I’ve been thinking about the
allocation of money throughout the year.
With any project I like to have a plan of attack before I start, and my
finances are no different. I know my
financial goals for 2014 and I know that I usually set individual goals for
each month as I go along. However, I
want to have a plan for how much and when I contribute to my different funds.
Obviously, I have to make the minimum payments on my loans,
so that is a no-brainer. I know that
I’ll make more than the minimum over the course of the year, but the question
is do I contribute evenly throughout 2014, or do I pay the minimums now while I
max out my Roth IRA and build up my e-fund?
Until now I’ve been religiously paying down my loans with
every penny I have while contributing smallish amounts to my e-fund and Roth
IRA. Now, I feel like it’s more
important to be absolutely sure I max out my Roth and have contingency money on
hand in case I end up finding a house and have to spend a ton of cash on
moving.
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