I am way behind on this at never mind how old I am. It is time I stop letting things interfere and begin figuring out how much money I'll need when I can no longer see my screen to work. What would I need to survive if I lost all of my income tomorrow? Let's go over the numbers.
I'm going to start with what I would need for six months to cover basics.
Rent 400 x 6 = $2400
Phone bill 30 x 6 = $180
Internet 60 x 6 = $360
Light bill 100 x 6 =$600 (averaged per month)
Total= $3540 x 2= $7080 per year
These figures do not include auto insurance, co-pays, medications, food or any of those things that come up unexpectedly. At the moment that's a large goal even if I only work toward the six months of basic expenses that come to $3540 instead of the $7080 for the entire year. This means that I have to break that goal down farther.
I'll begin with the smallest bill that we have which is the phone bill at $30 a month and only $180 for six months. Now how to I plan to achieve that while catching up on what I am behind and paying my upcoming auto insurance? Very carefully.
Prioritize
What things take priority while I'm attempting to save for my retirement, otherwise known as the low fixed income years for a lot of people?
I know what how much I need that's the first step. I'll work out the details with list and visible goals, the same way I do everything else.
Rent 400 x 6 = $2400
Phone bill 30 x 6 = $180
Internet 60 x 6 = $360
Light bill 100 x 6 =$600 (averaged per month)
Total= $3540 x 2= $7080 per year
These figures do not include auto insurance, co-pays, medications, food or any of those things that come up unexpectedly. At the moment that's a large goal even if I only work toward the six months of basic expenses that come to $3540 instead of the $7080 for the entire year. This means that I have to break that goal down farther.
I'll begin with the smallest bill that we have which is the phone bill at $30 a month and only $180 for six months. Now how to I plan to achieve that while catching up on what I am behind and paying my upcoming auto insurance? Very carefully.
Prioritize
What things take priority while I'm attempting to save for my retirement, otherwise known as the low fixed income years for a lot of people?
- Food
- gasoline for appointments
- keeping my car insured and the tags up to date
- meeting my child's basic needs and those things that come up at school on a regular basis.
I know what how much I need that's the first step. I'll work out the details with list and visible goals, the same way I do everything else.
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