Have you started figuring out your budget and goals for 2010? Now is the time to start looking at 2009 and planning for 2010. I took a 4 part series offered by my company through MetLife called RetireWise and I am glad that I did. Although it was hard to hear some of the areas that I have ignored for too long and that I’m going to have to work hard to catch-up I at least have some goals and tools to use for planning.
If given the opportunity to take a class like this – it is well worth your time. One thing that I did learn is that your Emergency Fund is not 6 months worth of wages but 6 months of your expenses. Now I am in the process of reviewing our expenses and seeing how much we can actually put away a month to fund this emergency fund. I’ve set-up the Orange ING Savings account which has a higher than normal interest rate for this account. I will have it directly deposited into this account.
I’m a little depressed about the situation with our car and not nowing right now what we will be able to do to get her fixed. This was not a planned budgeted item and after clearing out what little emergency fund I had left to cover the truck and the tree trimming makes this even more depressing.
Lois over at Walking on Sunshine had a wonderful quote by Mother Teresa:
“I know God won’t give me anything I can’t handle…
but sometimes I wish He didn’t trust me so much.”
I feel the same way right now – I’m just not sure I can handle much more. I’m the type of person that I worry and want to get things taken care of right away and not have to wait or depend on someone else. I think that is what I hate the most is having to wait on someone else to get around to working on my estimate and claim on my car. Patience is a virtue but not mine!
I’m trying to be as positive as possible, I just hate having to wait wait wait!
Back to the budget – I’m working through all the areas and re-evaluating our insurance policies, re-distributing my 401K – per the tools used it said I should be a mix of 60% stocks and 40% bonds so I did a redistribution. I am still trying to find out more on how Bear’s is distributed.
Now, if you work and your company has a 401k program with matching dollars be sure that you are taking full advantage of this program by contributing the max to get the maximum match.
My company matches up to 6% so I invest 6% and my company matches with another 6%. This means that in addition to my Pension, 12% is also being added to my 401K each month.
I’m also looking to sell some items on Ebay to put into our Emergency Fund. There are a few items I’ve gleened out of my horse equipment that I will be putting on Ebay along with some other items that I believe will sell. I’ve also got some items that I’ll put on Craigslist. I’m also putting items on Freecycle to just find a new home for them. I’m getting a jump start to the new year so to speak.
So, if you have started planning for 2010, I would love to hear what your are doing!