Sunday, May 16, 2010

Getting Back to the Financial Oversharing

I've been overspending badly the past few months, a fact that is making me more and more nervous, especially since there are major life/income changes coming up. (Long story short: I'm returning to college in the fall to take classes, do unpaid work in a lab, and get ready for grad school. Long story long to be posted later.)

So here's the brief overview of where I stand. Keep in mind the categories were all assigned back when I was still planning to teach for a third year so things may shift if/when I end up dipping into savings next year.
  • Emergency fund (I Bonds, value takes into account penalty for cashing out early):$8,459
  • Checking account at old hometown bank: $500
  • House fund at old hometown bank (15 month c.d. with 2.27% apy that will mature in February): $9,000
  • Checking account at USAA: $600
  • Health Savings account: $1,000
  • Roth IRA (VBINX, already maxed out for 2010): $14,600
  • Car fund at FNBO Direct: $9,600
  • House fund at FNBO Direct: $600
I've also made mandatory contributions of about $4,000 to the state teacher retirement system that I'll probably withdraw since I can roll them into an IRA. (Since I don't anticipate teaching in the state's public schools again and strongly suspect that over the coming decades protecting the contributions of someone who only taught in the state for two years won't be a high priority, I assume this is the best idea, but I'm open to advice.)

Making this list served as a nice reminder that I haven't torpedoed my financial future yet. Next year may be another story, however.

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