It’s been a while since I posted a Personal update, so here we go. It’s almost Christmas, and we all know that this holiday season is going to be a bit different from others in the past. I just finished shopping for gifts today, and I am starting to look at my finances for the upcoming year. Here is a quick update of what I have going on.

Still Debt Free!

Yep. No Debt except the mortgage. Life is so much simpler, and saving is so much easier when you aren’t writing checks to lenders every month. If you are struggling with debt and want to become free I recommend checking out Dave Ramsey. His investing advice might not be the best out there, but his advice on getting a handle on debt and living debt free are about the best around.

Current Financial Plan

I am currently trying to further build my Emergency Fund. I already have around 3 or 4 months of living expenses saved, but in these uncertain times I want to increase that to somewhere in the 6-to-9-month range. Thankfully, I am in an industry that has benefited from the pandemic, but I still want to play it safe. You never know what might happen. I feel it more prudent to save cash at this time as opposed to putting extra money to work in the markets. Full disclosure: I am already putting a substantial amount of money into the markets monthly. Currently, however, I am choosing to save extra money as cash. Here are some emergency fund basics.

On a Personal Note

The progress on our cabin is coming along nicely. Siding is one and the chimney is done. The plan this winter is to remodel the bathroom and utility room. Those are the last two rooms that need a facelift. Hopefully, next year we can build a deck, but that will depend on the price and availability of treated lumber. The pandemic is causing shortages and price spikes in lumber. I also have a few projects that I may start to tackle at home during the winter months. The guest bathroom needs a facelift, and I have a woodstove that I need to install in the main living space. So, there is plenty to keep me busy.

In Closing

It has been a trying year for all of us, but also a good year for me. I paid off all my debt, continued to build wealth, and am nearly finished with the remodel of our cabin. So, there is my personal update for December. May everyone have a safe and happy holiday. Until next time.

Read Also:

A Look At Emergency Funds

5 Simple Steps to Creating a Budget

Five Simple Budgeting Habits to Kick Your 2020 Budgeting Plan

The post Personal Update, Dec. 2020 appeared first on All Things Finance.