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My new challenge

July 6th, 2014 at 07:21 pm

I've decided that no matter what I was going to break down/ allocate funds from my paycheck as follows:
• first 10% EF
• 5% of that balance to IRA
• 3% of that balance to CC debt

For example $300 check
• 10% = $30 to EF leaving a balance of $270
• 5% of $270 = $13.50 to IRA leaving a balance of $256.50
• 3% of $256.50 = $7.69 to be paid on CC debt leaving a balance of $248.80 in checking.

So I'm sure you get my drift , I just thought this will be a much easier way for me to save while living, I think, below my means

In the end, I challenge my self to save the above listed percentages.

I'll have to see how things go

3 Responses to “My new challenge”

  1. Looking Forward Says:

    Cheering you on! Big Grin

  2. veronak Says:

    Thanks Looking Forward Smile

  3. CB in the City Says:

    Sounds like a good plan!

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