I’m Aja Dang and it has happened – I have a FULLY FUNDED EMERGENCY FUND AND I FINALLY FEEL FREEEE!!!!! I started building my emergency fund in January (after becoming debt free) and have since saved up $35,000 to complete my emergency fund. I originally anticipated saving up $40,000 (including a $10,000 EF for my two dogs and including my boyfriends half of bills… just in case) but after saving up $35k and realizing how much more I could cut out after the coronavirus hit, I decided $35,000 was enough for me.
I’m so happy, the feeling is much different than how I felt when I paid off all my debt. This is a true freedom and I *know* I’ll never be in the same financial position I was in two years ago. And it couldn’t have come at a better time.
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i am happy for you i am on step 2 its hard but i am determined.
$160k in debt not including my mortgage. You have inspired me that I can do this! I turn 31 next month and am going to push to be debt free by thirty threeeee!
Is your emergency fund still at $35,000 since you moved from this place? I’d like an update on your emergency fund.
I’m debt free today!!! Wooohooo. Now to save and then invest!! Millions here we come!
Yellowstone vibes
By the way, I am here for encouragement for Step 3!!
What about investing in a property in Huston, and then turning it into an AirBandB if you don't want to live there full time!
New goal is to have this much money in my e-fund by 33!
LA is too expensive – the things you get are not worth the value you pay- everything will continue to be that way- kids school fees-activities ect – I wouldn’t stay there
Hello Aja, new subscriber here I was hoping you would mention how long it took you to save the emergency funds. It will really help me to set realistic goal for myself.
The reviews for Empowered aren’t good.
Just be sure the property tax not high
Does my $1000 Baby Step 1 emergency fund roll into my Baby Step 3 fully funded emergency fund or do I keep it separate?
I LOVE your videos! you've encouraged my journey and I've always been someone to budget and manage money but it was so chaotic lol. I would get frustrated because I wouldn't see results. Anywho, as far as buying a house, PLEASE make sure you choose a house for you and your partner only and nobody else. I bought my dream home in Georgia when I was still serving. However for the purpose of appeasing to others at the time, I moved to Houston, and bought a home in Sugarland. I hate it. I wanted a brand new home, built from the ground up like I still own in Georgia, so this felt like a downgrade. One of your other videos (tips you wish you knew when you started your debt journey) really resonated with me because I have certain things I will simply NOT compromise on! a nice car and house and a phone game are things I don't give up on. I shorten my budget everywhere else. So I did this and moved to sugarland and I've not been happy since. Make sure you're happy!
Hello, Does anyone know how much money is recommended to keep in your chequing account? You allocate towards your debt & emergency fund, but how much should you keep for regular spending? Is it simply, just what's leftover or should you build that up a bit as well?
Glad I found this channel! Your videos are so good!
I also have a fully funded emergency fund and I still feel broke. I really need to work on creating passive income so I can spend more time with my little girls
So happy for you
When it comes to buying a house, you want to take it seriously, but it’s not the commitment that a lot of people make it out to be. It sounds like you are very far from being ready to buy a house simply because you don’t know what city you want to be in! That decision is number one, then it’s recommended to rent for 6 months to a year in your chosen city before buying. This gives you plenty of time to learn the good and bad neighborhoods, and figure out what area is close to work and your favorite places, what school district is best, that sort of thing, and plenty of time to house hunt. After that, if you buy conservatively and don’t buy more house than you can afford, even if the housing market is bad or you have to move quickly for work, you’re in a good place to do that. Saving all the while is great, though. I would definitely prioritize saving for a house, but not with the intensity you put toward debt payoff.
get a rich husband /sugerdaddy and the rest will fall in-place
I would love to learn about how you do your taxes. I do freelance work and I am trying to figure it out! Thanks for sharing all your knowledge. I have been trying to figure out my finances as well and love listening to you and what you have accomplished. Thanks for sharing!
Do you have a retirement fund?
Anyone here from Australia and know which finance apps are good? I would love empower.me but I'm pretty sure I can't use it in Australia.
Getting rid of debt is like finally taking off a heavy backpack, and having a fully funded emergency fund is like breathing normally after holding your breath for a long time…that's the way I can best describe it.
My mindset for buying a house was that I wanted to contribute to building my own wealth (I bought in a City where housing costs are rising rapidly), and while I dont plan to stay here forever, I'll be here for a while, and when I leave I plan to rent the house out and have some passive income from it.
I just paid off my first small loan today! came right back to your videos to stay motivated! 2021I will be debt-free!! (-student loans) I cant wait to be at this step!
Congrats! I’m in the same place & thinking about buying a home as a rental property. I’m frightened to be back in debt by getting a mortgage. What is your opinion of getting into debt again after aggressively achieving this goal?
Real Estate is the best investment in my opinion—but there's so many things to consider! I totally get LA being expensive but you should also think about where property values will increase because it may be your forever house or house for 5-10 years as you have kids, but things change! What if you need to or want to switch houses or cities? It's comforting to know you can sell your house without losing value on it and likely at a gain!
No, I didn’t know if I wanted to stay. I bought a house that I liked , could afford, and that I “could” grow into it for a couple of years. Best thing I have done. I got a good deal so I can keep as an investment or make a profit if I sell
I see all of your videos on how you save money and paid off debt, but how did you save enough money to make your emergency fund? is there a video of yours you can point me too?
Don't get caught up in the hype of owning a house if you don't feel like it is your time. Concerning your extra money now why don't you do something like a play fun account (travel, big fun items you want to buy, etc) and a Freedom & Opportunity account (put as much as possible after all the others and build it up for when fantastic opportunities come your way like business, house deal, extra retirement, etc.) Sometimes just save to save! So you can take those opportunities.
I just paid off all my debt and my first thought was all like….ahhhhhh now the 6 month emergency fund!!! It never ends haha… but it will, soon! Gonna be so glad when its fully funded.
Just starting my journey to becoming debt free after an abusive relationship and racking up student debt. This video makes me feel so hopeful and motivated!! =)