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About a year ago, I wrote this post about my top 5 financial goals. It’s funny to see how much my life has changed over the past year. Some of those goals are no longer applicable, like paying cash for a singles’ cruise (I’m now happily married!!!) or buy a house by my 35th birthday (we don’t want to commit to a house until Andy gets out of the Army since we’re not sure where life will take us). Now that Andy and I are a team for life, I thought it would be fun to discuss our top 5 financial goals as a couple. And yes, I’m a nerd because I think this is fun 😛
1. Be debt free by my 27th birthday in July 2019. If you read the original post, you’ll notice that this was my number one top goal. I managed to pay off $17,000 before the wedding, and get my total loans down to $6,000, but our $10,000 wedding loans brought our debt back up to $16,000. I’m so excited to work as a team with Andy to decrease my debt. I know we can do it, and I bet we can do it sooner than we thought as well!
1b. Do our “Debt-Free Scream” on the Dave Ramsey Show. Andy was originally not a fan of this idea, but he’s warmed up to it since this idea is what kept me going on my first Debt Snowball adventure. (Literally, I would daydream about it!) I can’t wait to do our Debt Free Scream as a team!
2. Pay for my Bachelor’s or Master’s degrees and Andy’s Associate’s and Bachelor’s degrees without any loans. I’m wanting to go back to college to study Human Resources, but can’t decide if I want to get a second Bachelor’s in Business Administration with an emphasis in HR, or get an MBA with an emphasis in HR. I still have some debating to do on which degree would be better, but I do know I don’t want to take out any loans to continue my education! Thankfully, we’re pretty sure that Andy will transfer his GI Bill to me so I can get my second degree without taking out loans like I did for undergrad. We just have to wait 2 more years for Andy to hit the 6 year service mark before he can transfer it to me (he’ll also have to agree to 4 additional years in the Army, but he wants to stay in until retirement if possible.) Andy plans to do tuition assistance and possibly Green to Gold to fund his Associate’s and Bachelor’s degrees as well. Andy and I are so, so grateful for the military’s education benefits.
3. Save $20,000 in an emergency fund. They say Murphy’s Law is true (especially for military spouses when your husband is on deployment!) and it would make me feel much safer to have an emergency fund just in case– not if, when— the unexpected happens. Ideally, this would also double as a PCS fund because everyone knows moving is expensive. Unfortunately, the military requires you to pay up-front for moving expenses and they will reimburse you later if you’re planning to do a DITY (do-it-yourself) move like Andy and I prefer.
4. Pay cash for a road trip across the US as well as other travels. We’re not planning to have kids for 4 or 5 more years, because we want plenty of time to travel and finish our degrees. In our pre-kid days, we’re wanting to do an epic road trip to Las Vegas and back, with plenty of stops along the way. We’d also like to travel more, both within the US and internationally, so we can add more stars to our maps. Of course, trips are more fun when you don’t go into debt for them.
5. Pay cash for our next vehicles. Both of our cars are 15 years old, and we expect them to keep ticking for the next 10 years or so, but we do want to stash some cash for when Kim or Daisy kicks the bucket. (We’re taking bets on which car is the first to go. My bet is Andy’s truck, Kim. Even though the mechanic said she would make a fine truck for someone. I still think it’s Kim. Andy says my car, Daisy, will be the first to go. Only time will tell!)