FINANCIAL SITUATION

Here is my current financial situation:

Credit Card 1: P 31,000.00
Credit Card 2: P 18,000.00

Emergency Fund 1: P 10,000.00 (goal is P50,000.00)(for emergency situation like hospitalization)

Emergency Fund 2: P -0- (3 to 6 months worth of salary for living expenses in case of job loss)

Educational Fund: P -0- (college tuition for my 3 children)(goal is P1,500,000.00)(I have 10 years to build this up)(tuition fee is increasing every year)

Retirement Fund: P -0- (goal is P2,500,000.00)(I plan to retire when I reach 60. I'm 27 now so I still have 33 years to raise this amount).( Partial amount raised, if there is any, will be put in time deposit the same with Educational Fund).

Passive Income: P-0- (will try to look for one)



GOAL:

Pay off my credit card debts on or before December 2008 before moving on to Emergency Fund 1.

How about you? What is your financial situation? What are you goals?