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Children's private school
saving for children's college expenses *Mortgage (living closer in or having a larger house) Vacations *Extracurricular activities for your or children Clothing Eating out Investments Entertainment (going to movies, amusement parks) *Saving for retirement Savings for emergencies |
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I financially prioritize freedom. All of my financial decisions begins there and doing so means I'm always making a decision I'm comfortable with.
So, look at the bills and expenses then ask yourself what will free you up when it's paid off or fully saved for. |
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1. Savings for emergencies (we already have plenty, but it we didn't this would be my #1 priority).
2. Mortgage (our house isn't our "dream house" but we like being homeowners) 3. Saving for retirement (In the last two years we increased our saving from 5% to 15% to 24% and we are holding steady there) 4. Tithing (This should probably come first and we always tithe, but mentally this isn't my top priority) 5. saving for children's college expenses We spend money on these things but they are only a small fraction of the amounts above: Vacations Extracurricular activities for your or children Clothing Eating out Investments Entertainment (going to movies, amusement parks) Not a priority at all: Children's private school (We are in a great daycare now, but are in a good school district in Howard County) |
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1) Clothing
2) Vacations 3) Eating out |