Reader Case Study: Yearning For a Debt-Free Future
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Frugalwoods
Michael’s Savings Account $7,000 This is my emergency fund Navy Federal Credit Union Brian’s 457 $5,886 Brian’s 403b $3,389 Brian’s HSA $3,093 Michael’s HSA $2,100 Health Savings Account Brian’s IRA $1,325 Brian’s savings $1,000 Sharon Credit Union (SCU) Brian’s Holiday Savings $1,000 Brian’s Stocks $852 Brian’s FSA $356 Total: $91,250 Item Amount Notes Category Suggested New Amount Liz’s Notes Rent $2,000 Fixed $2,000 Michael – CC Debt payment $1,400 Estimated 6 month debt payoff at this payment rate Fixed $1,400 Once this debt is paid off, use the money to pay off the next debt and so on Brian – car repairs, gas, train fare (8 month average) $1,064 Brian has had major car repair issues over the last 12 months Fixed $1,064 Brian – Debt payment $600 Fixed $600 Once each debt is paid off,…