Truthfully, I’ve always thought the phrase “Freedom Fund” sounded, well, hokey.
I mean, really. Freedom Fund? I might as well call it Liberty Liquidity.
But that name grew on me (Freedom Fund, not Liberty Liquidity. I’m not THAT corny). I have embraced the hokey. From this day forth, I shall christian the formerly staidly-named Money Market Fund to Freedom Fund.
Because it’s true, I’m saving for freedom here – freedom to purchase a home in overpriced California when I’m ready, freedom to afford graduate school if I so choose, freedom to leave an unhealthy work environment or an abusive relationship, freedom to be generous to family or friends, freedom to travel and to own a dog, freedom to not let money be the only deciding factor in the most important things in life.
So my first paycheck of April I dedicate (sidebar updated!):
$500 to Roth IRA (90% of 2008 year-end balance)
$500 to Freedom Fund (34% of 2008 year-end balance goal)
and… the remainder to credit card bill (which pays for 95% of all non-rent expenses)
I’ll try to squeeze another thousand out of my second paycheck, but that may be a little difficult. I’ve been a little lax with the eating out and shopping this month, and since I’ll be visiting a friend in a couple weekends, I can’t see myself cutting back too much in other areas.
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How about the “F U” fund?
I like that name better…..
You are such an amazing saver. You inspire envy in my heart!
Nice work
I love the name Freedom Fund. It does what it says on the tin!
Good luck building it
I call mine the Go to Hell Fund. If I ever I have a boss that I can’t stand, that money will let me tell him or her exactly where to go while I find new employment.
Keep contributing to that Roth, you will appreciate it later.