Consumer Credit / Credit Cards
Re: Quick Update on Paydown

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By mz00m
November 29, 2005

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You want to share what your greatest lesson was from TMF?

Tough question, as TMF is such a great resource for so many things. TMF & the boards have taught me ever-growing lists of things about everything financial from retirement accounts, to coupon clipping... but the greatest lesson I learned is probably that financial battles are won in very small, daily, methodical steps. We don't have to make $100,000 a year, or have a windfall of some type to have retirement accounts fully funded, no high-interest debts hanging over our heads, and know where the mortgage payment is coming from each month.

Like a little rudder on an ocean liner, small and constant changes in our habits to be less wasteful and to take control of each dollar have led to huge positive shifts in the direction of not only our financial life, but nearly all other areas of our lives. Our marriage has even been positively affected by this.

Who hopes you will begin planning next Spring and Summer for how you will convert your snowball into retirement investing...

We're already planning! We've got about $13K between 2 401Ks, and we'll be starting our ROTHs by April (not fully funded this year, but it's a start). I am ecstatic that we'll have money freed up to focus at funding retirement and starting to save up for our down payment on a home. We hope to buy a home within 2 years or so.

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