I’ve been reading a lot about Financial Independence (FI).   As someone who is a daughter of an immigrant, who have had to utilize low income services, who is now “successful” as a upper middle class worker…my perception/views on money is all over the place.  I struggle at time various times to give myself permission to spend on things myself.  Usually I spend money on my son or other things that are necessary.  Since my divorce I’ve been working on figuring out what my goals and priorities are in regards to money.   I stumbled across YNAB and have started to use it to better budget and prioritize my goals.

Currently, my goals are to:

  1. No more debt.  The only debt I should take on is a mortgage.  For the past year, I’ve been paying off my credit card balance in full each month.
  2. Pay off existing debts.  Currently, I have 2 school loans (undergrad and grad) and a car loan.
  3. Build up emergency fund.  I am now back at zero.  I had to use my emergency fund to handle some unforeseen expenses.
  4. Save money for a downpayment on a house.  My parents have offered to help me with a downpayment.  I am motivated to move because I am still renting the same place that my ex-husband and I have stayed.  I need a fresh start.
  5. Save for retirement. I have yet to max out my contributions.  Hopefully this will change soon.

Even though, I am what one would consider upper middle class,  I am a single parent, who pays all my taxes minus your typical deductions.  I wish I started being more serious about money after I graduated from college. Well, scratch that… not serious…I wish I knew what I know now, back then.  I might have been better off.