# Under contract on home and..



## Cherry (Sep 23, 2009)

Didn't want to hijack FYD's thread and we will have have just under 4K to do something with after we are moved and settled in (except the washer and dryer  haven't decided what to do about that yet).. no debt at that point except one auto and that will be paid off in 3 years or sooner. 

With 4K being roughly a two month income cushion, I guess we should really just leave it in savings and start saving more so we can start doing things wisely with our income... What do we do with any excess savings then to help it grow a little more quickly? Use to be the stock market, that's all I've really known about.. or I suppose land could be an option.

We are new to the world of being caught up with a financial future!!
Any pointers?


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## Mavash. (Jan 26, 2012)

1) Save $1k for emergencies
2) Pay off all debts except for the house
3) Save 3-6 months of living expenses

These are the standard financial steps. The only exception is if there is uncertainty in your future then you stockpile cash investing it in only safe things like cd's, or money market funds to minimize your risk of loss.


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## Clark G (Sep 5, 2012)

I agree with the above and be glad you have this. Another method is utilizing buckets - youtube Tony Robbins financial freedom - you can see one of his many excellent seminars on utilizing buckets for financial well being. Nothing sexy about it but I've always been told and told to advise clients that there is nothing sexy about building wealth. It tends to be a boring and straight forward process.

Hope that helps,

Joe


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## Cherry (Sep 23, 2009)

Clark G said:


> I agree with the above and be glad you have this. Another method is utilizing buckets - youtube Tony Robbins financial freedom - you can see one of his many excellent seminars on utilizing buckets for financial well being. Nothing sexy about it but I've always been told and told to advise clients that there is nothing sexy about building wealth. It tends to be a boring and straight forward process.
> 
> Hope that helps,
> 
> Joe


Thanks, I'll look into it! First time ever that we will be in this position.. and we don't want to blow it. Historically we are horrible with money... Just very frivolous, not considering our future, etc. It's time


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## heartsbeating (May 2, 2011)

Congratulations in advance.

My suggestion would be to put it into an interest bearing savings account (make sure there's no/minmal fees) then just forget its there. 

Create yourself a budget and put aside at least 10% of your income to savings. This isn't meant for bills, that's in your budget, it's simply savings. Start there.
_Posted via Mobile Device_


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