My current savings is pretty much what I have been contributing to my current 401k and what it is gaining right now. I used to have a Roth IRA but its currently down to $500. A savings account under $500 and an emergency fund hovering around $100. I know its kind of sad. This is why I have been thinking of what I should do by the start of next year.
Take note that I probably will not start this until the new year starts, but below are the 'tentative' goals I have for the upcoming year.
- Start an Emergency fund Goal $1000
- Increase 401k contribution. Currently at 5% and bump up to 6%
- Restart contribution to IRA @ $50/per paycheck
Should I even start paying myself now or should I just focus put it all to my debt repayment?