Comments on: Goals Update http://www.moneymythos.com/2007/10/17/goals-update/ A narrative financial and investment column Fri, 05 Sep 2008 17:31:57 +0000 http://wordpress.org/?v=2.6 By: Jason http://www.moneymythos.com/2007/10/17/goals-update/#comment-551 Jason Fri, 19 Oct 2007 04:41:12 +0000 http://www.moneymythos.com/2007/10/17/goals-update/#comment-551 Well that would be nice! Your dad doens't want to lend money at 0% to me does he? ;) So you don't, or didn't really subsrice to the "pay your self" philosophy. I have to ask myself a couple of questions, 1, how much will have have after expenses each month, and 2, how much of that should I spend on debt rite away and how much should I spend on savings. Well that would be nice! Your dad doens’t want to lend money at 0% to me does he? ;)

So you don’t, or didn’t really subsrice to the “pay your self” philosophy. I have to ask myself a couple of questions, 1, how much will have have after expenses each month, and 2, how much of that should I spend on debt rite away and how much should I spend on savings.

]]> By: Jon @ The Money Mythos http://www.moneymythos.com/2007/10/17/goals-update/#comment-547 Jon @ The Money Mythos Fri, 19 Oct 2007 00:48:05 +0000 http://www.moneymythos.com/2007/10/17/goals-update/#comment-547 Well, I am in a fairly unique situation in that the money I owe for my loan is interest free, in that it's to my dad. See this post for more details on that: http://www.moneymythos.com/2007/07/06/why-a-0-interest-loan-keeps-me-up-at-night/ As I mention in there, he's never asked for a specific amount, so that's been up to me. While in graduate school, I started at a paltry $100 a month. After I paid off the loan I had to take out for one semester, I was able to start paying $200. About a year later, I bumped that up to $300 when my wife started working. So basically, when I was able to start paying more towards my loan, I did. Also, I've always had the general goal of having the $30,000 loan paid off in five years - assuming I will continually be able to pay more each month as my salary improves. As for the emergency savings, every dollar I had extra at the end of the month (after all my expenses, including entertainment and such) went into it. Well, I am in a fairly unique situation in that the money I owe for my loan is interest free, in that it’s to my dad. See this post for more details on that:

http://www.moneymythos.com/2007/07/06/why-a-0-interest-loan-keeps-me-up-at-night/

As I mention in there, he’s never asked for a specific amount, so that’s been up to me. While in graduate school, I started at a paltry $100 a month. After I paid off the loan I had to take out for one semester, I was able to start paying $200. About a year later, I bumped that up to $300 when my wife started working.

So basically, when I was able to start paying more towards my loan, I did. Also, I’ve always had the general goal of having the $30,000 loan paid off in five years - assuming I will continually be able to pay more each month as my salary improves.

As for the emergency savings, every dollar I had extra at the end of the month (after all my expenses, including entertainment and such) went into it.

]]> By: Jason http://www.moneymythos.com/2007/10/17/goals-update/#comment-546 Jason Thu, 18 Oct 2007 20:48:43 +0000 http://www.moneymythos.com/2007/10/17/goals-update/#comment-546 I am about to graduate from college and have been considering how to prioritize and set some of the goals you have set. How did you decide how much to save each month for emergencies while paying off your student loans? I am about to graduate from college and have been considering how to prioritize and set some of the goals you have set. How did you decide how much to save each month for emergencies while paying off your student loans?

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