Part 5/8:
Her primary focus is currently on paying off debt rather than maxing out her Roth IRA, which holds $38,764. Despite this, she views her youth as an advantage, allowing her time to make significant investments in the future.
Sandra has opted for multiple high-yield savings accounts to manage her finances effectively, proving the merit of organization. Here’s a breakdown of her saving accounts:
Emergency Fund: $10,700, fully funded to cover unforeseen expenses.
Car Maintenance Fund: $2,397, set aside for potential vehicle repairs or replacement.
Syncing Funds Account: $550.66, used for budgeting large annual expenses such as winter clothing or ski passes.