Overplanning

I think I am an overplanner. After years of just paying bills but never really having a spending plan, getting in a lot of debt for not planning ahead for things I knew were coming, I have become a planning queen.

Some of the things I have sinking funds for could probably be cash flowed when the time arises. That is money that I could be applying towards debt, now. However, I am fearful that when the time arises, I will not have the same income I currently have.

I have run numbers through March of next year. If my current income levels stay intact, I could be totally credit card debt free by March of 2010. This would be ideal since my projected graduation date is May 2010. That will be a huge life change.

I don't know how the job market will look a year from now. Hopefully the economy will be growing again. But there is a good possibility that it will not be.

Which brings me to a question. Should I concentrate on becoming debt free before graduation, or at some point should I start beefing up savings in order to survive while looking for employment in my degree field?

This is not a question that I can easily answer. I would like both to happen; be rid of the debt AND have a healthy savings account for when that time comes.

Of course, without the load of credit card debt, it would be easier to survive, even if I had to continue bartending while breaking into the job market in my desired field. Having a healthy savings account would make my new found security gland more peaceful.


For now, I am going to concentrate on paying off debt. I will monitor the economy and as the time draws nearer for graduation, I will determine whether I need to change my focus.