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Explanation: Creating a log of our bigger money decisions helps us remain conscous of how they impact our overall financial standing. The original goal for this exercise was to see whether our own financial choices had sped up or slowed down our process for reaching financial independence. The most important thing during this exercise is to revisit financial decisions with no judgment. Learning from past financial decisions can also be helpful when making future decisions. This log includes a few examples of bigger money decisions.
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Note: If you’d like to edit this document for your use, please “make a copy” and save it to your drive.
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Month/YearType of DecisionNotesRating
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May 2010Paid off credit card debtTotal CC debt was $6k
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Sept 2011401k WithdrawalTook funds from 401k to pay off mortgage. Paid penalties since the withdrawal was done at age 50. Also paid income taxes on the withdrawal and was bumped to a higher tax bracket.
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Jan 2012Lent money to familyLent $16k to a family member in 2008. Wrote that off as a total loss after 5 years without repayment.
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March 2013Car purchaseNew, base model, with 0% financing
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April 2014Massive raise Left job after 10 years for a new position with a 15% raise.
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