Friday, February 8, 2008
plans
I decided to count my mini-inheritance (just over UKP 5000) as the first bit of my down-payment savings. It currently sits at around 5% in a tax-free savings account in the UK. I think that conservatively, I can count it as nearly 10,000 USD, which is a big step in a downpayment plan.
My goals for Feb first, then we'll do the whole year.
Open Charles Schwab High Yield Checking. check
Until I get my credit card working at a decent level , I sometimes have to pay for work-related expenses out of my checking account, which means that I have to have a float of at least $700 to $1000. Plane tickets and hotel rooms are expensive!
Open Charles Schwab Mutual Fund
I need to start playing the dollar cost averaging game. This is my down payment fund, I gave it a timespan of 10 years with the initial 5 years spent in a high risk, high growth, and then will take it down a notch to a slightly lower risk fund for the last five. I'm planning to sweep at least $200 a month into this. I figure I'll use my uncle's beer allowance($100) and add in another $100 of my own. I also think that I'll put my remaining bonus money (around $2000) as an initial lump sum to fund it.
Set up ING subaccounts for India Trip, Interesting Classes and a Freedom Fund.
I'm hoping to go to India next winter with my friend B, whose family lives in New Delhi. I've wanted to go since childhood, and this is the perfect opportunity to stay for free and be shown around by a native! However, it's an expensive proposition. I think I'll need around $1000 for the flight, and another $1000 for spending money. That's assuming the dollar doesn't decline precipitously!
I also want to think about taking some classes this year, in Spanish and/or Yoga. I hope that my new job will pay for a professional development class such as portfolio management or even a credit/debit class. Ideally, I'd like an MBA, but those are expensive....
The Freedom Fund speaks for itself. While my parents could theoretically help me out whenever I needed to, it would be nice to manage that myself. The goal is $6000 as that is three months of bare bones expenses including rent and food.
My goals for Feb first, then we'll do the whole year.
Open Charles Schwab High Yield Checking. check
Until I get my credit card working at a decent level , I sometimes have to pay for work-related expenses out of my checking account, which means that I have to have a float of at least $700 to $1000. Plane tickets and hotel rooms are expensive!
Open Charles Schwab Mutual Fund
I need to start playing the dollar cost averaging game. This is my down payment fund, I gave it a timespan of 10 years with the initial 5 years spent in a high risk, high growth, and then will take it down a notch to a slightly lower risk fund for the last five. I'm planning to sweep at least $200 a month into this. I figure I'll use my uncle's beer allowance($100) and add in another $100 of my own. I also think that I'll put my remaining bonus money (around $2000) as an initial lump sum to fund it.
Set up ING subaccounts for India Trip, Interesting Classes and a Freedom Fund.
I'm hoping to go to India next winter with my friend B, whose family lives in New Delhi. I've wanted to go since childhood, and this is the perfect opportunity to stay for free and be shown around by a native! However, it's an expensive proposition. I think I'll need around $1000 for the flight, and another $1000 for spending money. That's assuming the dollar doesn't decline precipitously!
I also want to think about taking some classes this year, in Spanish and/or Yoga. I hope that my new job will pay for a professional development class such as portfolio management or even a credit/debit class. Ideally, I'd like an MBA, but those are expensive....
The Freedom Fund speaks for itself. While my parents could theoretically help me out whenever I needed to, it would be nice to manage that myself. The goal is $6000 as that is three months of bare bones expenses including rent and food.
Thursday, February 7, 2008
plans
I've decided that despite my long history with BofA, the Charles Schwab high yiel checking is too good a deal to pass up. 3.01% on checking, alongside a money market fund of 4.00%. I have been planning to open a money market account for a while so this is perfect. I wonder if its easy to txfer my direct debits from my BofA to the CS account. I hope it won't take longer than an hour on the phone and online. I have delayed arranging some DD's just because I thought I would be moving banks at some point, so there's really only Netflicks and Con Ed to move.
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