I snagged this question from Debt-Free-Revolution a personal finance blog that’s written by an ex-military female. She’s married and has a teenage son. She’s going to school for pharmacy.
She asked herself, and other Personal Finance (PF) bloggers “what would you do if you were debt free?”
I decided to answer.
First, I’d fully fund my Roth-IRA. Right now I manage about $100/ month towards it. To top it off in a year, you need to contribute $312.43 per month. (For my age.) I’d continue buying the stocks on a monthly basis that I always have.
I’d take on a few more of the household bills. (I live with my parents at the moment and probably for the foreseeable future.)
Then, I’d complete my emergency fund.
After that? I’ll start saving for the things I really want/enjoy doing. I want to travel more often. I want to get my Ph.D. I want to write. I want to get my business truly profitable.
I’ll be honest, I probably won’t start buying CD’s again. (Aimestreet is much better and cheaper.) I am still going to hold off buying books until I finish the ones I have. In fact, I don’t think I’ll be doing a lot differently.
But it is fun to think about the future.
What about you? What would you do?