Tuesday, December 5, 2006

My New $$$ Infrastructure Outline

My $$$ Infastrcture System Outline

I. Wells Fargo
100% A. Checkings: Main Account; everything goes here first.
5% B. Savings: Poker Bankroll

II. Bank of America
10% A. Checkings: Spending Account; gas and leisure

III. Sharebuilder
8% A. Roth IRA: Retirement Fund
5% B. Custodial: My child's 18th birthday present

IV. Capital One
5% A. Money Market: Mid-term Savings; Apartment, furniture, car repairs

December 5, 2006 Game Plan: (I will update this every 6 months)
1. 100% of all sources of income/money will be deposited into my Wells Fargo Checkings.
2. 5% will go into my WF Savings which is my poker bankroll.
3. 10% will go into my BofA account which will be used for my leisure and gas.
That will be my weekly allowance and can be used anyway I'd like.
4. 8% will go into my Roth IRA. I must save for my retirement NOW.
5. 5% will go into My child's portfolio. This will be his 18th birthday present.
He is currently 2, so 16 years of compound interest should add up.
6. 5% will go into my Money Market account, this is my mid-term savings.
Anything I'd like to save up for will come out of this account. I am currently
saving up to move out of state.
8. When all of these accounts are paid, the remainder of my money will pay off my
debt. I'm using a program called "Money Mastery" to write up a debt payment
schedule. I will post a blog later on my debt plan.
9. Any remaining money left over will be put into my Money Market Account.

This is my current "$ Infrastructure." Any comments, suggestions or questions is greatly appreciated.

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