No. of Recommendations: 9
Welcome and best of luck on your new journey.

I believe you are very motivated to make changes at this time. I would challenge you to emerse yourself in Foolish thinking for 12 weeks so your motivation to change can be be channeled into Foolish habits to guide your new financial future. "Stable right now" does not sound like someone who has turned everything around and has established good habits. Take this opportunity to get very grounded in Foolish money management. (read past posts, keep up with the board, share more about your budget, your goals, planned expenses and be open to some constructive feed-back).

CC pay-off should be your top priority (ahead of gifts). What interest rate is on the $10k?

Building an e-Fund should be a priority. $200 of your $1,000 sounds about right to me. Getting to $1,000 asap should be a priority.

$200 per month should be in a Freedom fund for those $6k of planned expenses. This is not the same as an E-Fund.

3 to 6 months is the range. You can decide on what is the right amount based on your age, ability to quickly get a new job at the same pay rate, disability insurance and other benefits you and DW may have through jobs. I would focus on the habit of setting aside the $200 per month and just get started on the fiirst 3 months. You can look into ways to have semi-liquid investments (over 5%) after you get the first 3 months.

Make sure DW is on-board as well as the kids.

You are at the right place. Lots of encouragement and support. Lots of great information. Also, lots of tough love and a community with high standards for taking responsibility and control of their financial future.

Best of Luck
SD
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