Author Topic: Saving to $10K  (Read 17067 times)

MSquared

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Re: Saving to $10K
« Reply #150 on: April 29, 2017, 07:18:48 AM »
My end of April update:

Emergency fund: $5962
401k: $540 (I need to find out how to log into my account, as this number isn't 100% accurate.  But this is my approximation of my contributions + employer match.)
TOTAL: $6502

I assume this will go down next month or two as I get hit with my dental bills.  I'm currently sporting two temporary crowns; I go back in a few weeks to get the permanent ones.  My dental insurance has a $1000 out of pocket maximum though, so that's good news.  I hate having horrible teeth genetics.  Ugh. 

But onward and upward!  I am officially the richest I have ever been.  I've had this much cash before, but it's always then been transferred toward debt.  I'm so excited to hit $10K!!!  Hoping for early fall. 

haypug16

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Re: Saving to $10K
« Reply #151 on: April 30, 2017, 09:05:22 AM »
3/31/2017 (52,848.85)
4/30/2017 (48,076.67) +4,772,18

Increased my Net-worth by $4,772.18 this month. Thanks to a Tax refund and Tuition Reimbursement. Also moved up my net zero date from July 2019 to May 2019 if I stick to my $2K a month increased net-worth goal. I should then reach $10,000 by October 2019. I have a feeling it will be sooner than that but I'm taking it one month at a time and making sure I hit my short term goals.

DieHard_772

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Re: Saving to $10K
« Reply #152 on: April 30, 2017, 01:38:51 PM »
WOOHOO!  Congrats, DieHard!  How long do you think it will take you to pay off your debts?

Congrats, Goldilocks!  Sorry to hear about your car.  :(

MSquared,
The credit card will be paid off by Aug 2018... Since it is 0 APR until 9/18
The student loan... Within a few years. I have had more urgent priorities, as its apr is about 3.5%

Thanks for asking!

DieHard_772

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Re: Saving to $10K
« Reply #153 on: April 30, 2017, 01:40:16 PM »

But onward and upward!  I am officially the richest I have ever been.  I've had this much cash before, but it's always then been transferred toward debt.  I'm so excited to hit $10K!!!  Hoping for early fall.

That is awesome! Way to go

DieHard_772

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Re: Saving to $10K
« Reply #154 on: April 30, 2017, 01:41:32 PM »
3/31/2017 (52,848.85)
4/30/2017 (48,076.67) +4,772,18

Increased my Net-worth by $4,772.18 this month. Thanks to a Tax refund and Tuition Reimbursement. Also moved up my net zero date from July 2019 to May 2019 if I stick to my $2K a month increased net-worth goal. I should then reach $10,000 by October 2019. I have a feeling it will be sooner than that but I'm taking it one month at a time and making sure I hit my short term goals.

Keep it up, you will be there before you know it

Zikzin

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Re: Saving to $10K
« Reply #155 on: April 30, 2017, 02:05:23 PM »
Joining here as well!

Goal: Roth: 5500
Savings: $5000


Dec 2016 - Opened Roth IRA - current balance $1458
                   savings account - $100


As of Jan2017
Roth IRA - $1939
Savings - $300

As of Feb2017
Roth IRA - $2470
Savings - $500

As of Mar2017
Roth IRA - $2959
Savings - $850



As of Apr2017 - i stopped my ROTH contribution and start piling up cash as of this month. hoping to hit $10k in savings by September
Roth IRA - $3005
Savings - $2101

Salvo

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Re: Saving to $10K
« Reply #156 on: May 04, 2017, 10:33:22 AM »
Joining this; hoping to have my credit card debt eliminated by end of year, a 401k and Roth IRA started also.  Company offers 401k but no employer match option, so I'm waiting a few more months until most debt is settled to open that.  Have to start paying schools loans back next month also, looking at what payments will minimize interest the most.

For this I'm not counting home or student loan amounts, because both of those are lower priority than my credit card, and the payment cycles have just started (bought house last year).  Once I have some emergency cash and investments built up I'll focus on loans and mortgage.  Hopefully by fall!

May 2017
CC Debt : -$2187 (1st priority 21.68% APR), -$3068 (no interest for 3 more months), -$2788 (7.5% APR financing, 2nd priority)
Cash : $367
Stocks (Robinhood + Betterment) : $101, $688

I expect the next few months to see a massive drop in the credit card debt and savings to really take off.
-My monthly expenses have been dropping as I try and trim.
-The place I work has tasked me with recycling old unused equipment which will net a few thousand $.  May have another site to clean out also!
-Spent a lot in the past two months on automotive parts (wheel bearings, tires, alignment, registration on one car; gas tank straps and o2 sensors on another vehicle) which was unexpected but absolutely necessary.
-Proposed this January to my girlfriend. so we began picking up decorations and other items for that next summer, but have already found most of what we need thankfully!
-Have a room full of ebay/CL items that I've been slacking on posting the past few months.  Just started listing again and already have several hundred in sales!


Looking forward to next months numbers, so happy to have found this site!

independence

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Re: Saving to $10K
« Reply #157 on: May 04, 2017, 12:50:31 PM »
I'd like some opinions of people at a similar savings level to me (and those with higher amounts about what they would have done). I've been asked for a loan of £1000 to be paid back over the following four months. It's somewhere between a quarter and a third of my savings. I think there's a good chance of getting it back but it would likely be at least a little delayed so 6-8 months is more realistic.

At this level of savings, is your policy 'no loans at all' or do you have some other decision making process?

For a bit of backstory, even at my very low savings level I'm still the most financially responsible in my family and they are very dependent on me despite me trying my best to teach them good habits.

lamil

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Re: Saving to $10K
« Reply #158 on: May 04, 2017, 01:22:42 PM »
I'd like some opinions of people at a similar savings level to me (and those with higher amounts about what they would have done). I've been asked for a loan of £1000 to be paid back over the following four months. It's somewhere between a quarter and a third of my savings. I think there's a good chance of getting it back but it would likely be at least a little delayed so 6-8 months is more realistic.

At this level of savings, is your policy 'no loans at all' or do you have some other decision making process?

For a bit of backstory, even at my very low savings level I'm still the most financially responsible in my family and they are very dependent on me despite me trying my best to teach them good habits.

Its not a loan its a gift.  If you're cool with that and never seeing the money again, go ahead.  If not, do not go ahead.

Optimiser

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Re: Saving to $10K
« Reply #159 on: May 04, 2017, 01:28:11 PM »
I'd like some opinions of people at a similar savings level to me (and those with higher amounts about what they would have done). I've been asked for a loan of £1000 to be paid back over the following four months. It's somewhere between a quarter and a third of my savings. I think there's a good chance of getting it back but it would likely be at least a little delayed so 6-8 months is more realistic.

At this level of savings, is your policy 'no loans at all' or do you have some other decision making process?

For a bit of backstory, even at my very low savings level I'm still the most financially responsible in my family and they are very dependent on me despite me trying my best to teach them good habits.

Its not a loan its a gift.  If you're cool with that and never seeing the money again, go ahead.  If not, do not go ahead.

You'll probably be asked to loan more money in the future if you don't set good boundaries now.

BeautifulDay

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Re: Saving to $10K
« Reply #160 on: May 04, 2017, 08:37:16 PM »
Its not a loan its a gift.  If you're cool with that and never seeing the money again, go ahead.  If not, do not go ahead.
+1

I don't like to loan to family or friends.  Many years ago I did loan my brother about $500 and it caused some stress in our relationship.  $500 is a lot of money when you're in college.  More recently I have given money to my younger siblings when they needed it. But they would never ask for that.  It was always my idea. And it is only something I would do if I feel I can afford it.

25% to 33% of your savings is a lot to give away.

DieHard_772

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Re: Saving to $10K
« Reply #161 on: May 04, 2017, 09:18:08 PM »

Its not a loan its a gift.  If you're cool with that and never seeing the money again, go ahead.  If not, do not go ahead.

+1
This is the crux of the matter.  If you are cool with losing a third of your savings, then fine.
On the other hand, that savings is mad IMPORTANT, bro.  I would be very careful with it.

DieHard_772

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Re: Saving to $10K
« Reply #162 on: May 04, 2017, 09:18:36 PM »

You'll probably be asked to loan more money in the future if you don't set good boundaries now.

Yeeeeeesssssss

DieHard_772

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Re: Saving to $10K
« Reply #163 on: May 04, 2017, 09:19:28 PM »
Joining this; hoping to have my credit card debt eliminated by end of year, a 401k and Roth IRA started also.  Company offers 401k but no employer match option, so I'm waiting a few more months until most debt is settled to open that.  Have to start paying schools loans back next month also, looking at what payments will minimize interest the most.

For this I'm not counting home or student loan amounts, because both of those are lower priority than my credit card, and the payment cycles have just started (bought house last year).  Once I have some emergency cash and investments built up I'll focus on loans and mortgage.  Hopefully by fall!

May 2017
CC Debt : -$2187 (1st priority 21.68% APR), -$3068 (no interest for 3 more months), -$2788 (7.5% APR financing, 2nd priority)
Cash : $367
Stocks (Robinhood + Betterment) : $101, $688

I expect the next few months to see a massive drop in the credit card debt and savings to really take off.
-My monthly expenses have been dropping as I try and trim.
-The place I work has tasked me with recycling old unused equipment which will net a few thousand $.  May have another site to clean out also!
-Spent a lot in the past two months on automotive parts (wheel bearings, tires, alignment, registration on one car; gas tank straps and o2 sensors on another vehicle) which was unexpected but absolutely necessary.
-Proposed this January to my girlfriend. so we began picking up decorations and other items for that next summer, but have already found most of what we need thankfully!
-Have a room full of ebay/CL items that I've been slacking on posting the past few months.  Just started listing again and already have several hundred in sales!


Looking forward to next months numbers, so happy to have found this site!

Awesome, Salvo, welcome aboard!
We're the happiest Mustachians who got nothing to lose!
It's all uphill from here! :)

RetirementDreaming

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Re: Saving to $10K
« Reply #164 on: May 05, 2017, 02:42:39 PM »
Put my entire bonus in the savings account.  I'm half way there!  $5243

Trifele

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Re: Saving to $10K
« Reply #165 on: May 05, 2017, 03:00:46 PM »
Put my entire bonus in the savings account.  I'm half way there!  $5243

Nice job!

lexde

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Re: Saving to $10K
« Reply #166 on: May 05, 2017, 07:50:35 PM »
I'm almost there. So close, and yet so far.

My current NW is about -16K.

I'm saving to a 10K emergency fund that I will eventually build up to 14K since that's about 6 months of expenses for me.

Right now I have $7250/10K saved up and am making large student loan debt payments, so 2K goes to loans, and 500 goes to savings each month. I'd love to spend 2 or 3 months and just get a nice cushy savings account, but I very much want to get out of debt ASAP so I'm prioritizing that. With 2K-per-month payments I'm still looking at August 2019 payoff, so I'm trying to just scrape every penny and put it over into my loans to possibly pay it off faster.

Should I be prioritizing a 6-month e-fund? I have a stable job and am still putting about 500/mo into savings (plus 401K etc)

ptgearguy

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Re: Saving to $10K
« Reply #167 on: May 05, 2017, 11:49:26 PM »
I just want to say good work to everyone working here. Not long ago (well it feels that way now) I was heavily stuck in student debt and made the choice to change. I am debt free and finally saving money for the first time in my life. You can do it, but you have to believe in yourself.

independence

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Re: Saving to $10K
« Reply #168 on: May 06, 2017, 04:18:55 PM »
Thank you all for your opinions re: loans! They were very helpful to hear.

Everyone in the thread is killing it with the savings recently. I'm waiting to hear about a new work contract. Fingers crossed so I can catch up with you all ;)

DieHard_772

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Re: Saving to $10K
« Reply #169 on: May 08, 2017, 01:41:12 PM »
Savings took a hit because we had to replace our refrigerator.   -$540

And yet... so glad to have that money saved for just this occasion.

(A couple of years ago that would not have been the case)

haypug16

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Re: Saving to $10K
« Reply #170 on: May 13, 2017, 10:57:55 AM »
Very excited that my interest on one of my credit cards was $80 less this month than last due to the huge amount of money (~$5K) I've put towards paying it down over the last 2 months. It'll be so nice when my monthly Credit Card Interest is $0!

DieHard_772

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Re: Saving to $10K
« Reply #171 on: May 13, 2017, 07:41:49 PM »
Very excited that my interest on one of my credit cards was $80 less this month than last due to the huge amount of money (~$5K) I've put towards paying it down over the last 2 months. It'll be so nice when my monthly Credit Card Interest is $0!

That is awesome!  good job

Trifele

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Re: Saving to $10K
« Reply #172 on: May 14, 2017, 04:39:06 AM »
Very excited that my interest on one of my credit cards was $80 less this month than last due to the huge amount of money (~$5K) I've put towards paying it down over the last 2 months. It'll be so nice when my monthly Credit Card Interest is $0!

You are killing it, Haypug!

DieHard_772

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Re: Saving to $10K
« Reply #173 on: May 17, 2017, 02:30:45 PM »


Latest update:

Update:

Savings: $1150 (+$33)
IRAs (Betterment):  $6634 (+$757)
Other savings: $711 (+$160)
 
HSA: $985 (+$261)
My wife's IRA: $870  (+$126)
Other money for investing (going into the IRA and HSA): $451

TOTAL:  $10,800

Boom!  Made it to 10k in savings!

Latest update to our savings...
I added a few of my wife's accounts:

Savings: $609 (-$541)*
IRAs (Betterment):  $6935 (+$301)
Other savings: $2161 (+$1450)**
 
HSA: $1152 (+$167)
My wife's IRA: $1023  (+$153)


TOTAL SAVINGS:  $11,765 (+$965)

*We bought a new refrigerator, so savings took a dip.
**This includes a few of my wife's savings accounts, added here for the first time. hence the jump.



DieHard_772

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Re: Saving to $10K
« Reply #174 on: May 17, 2017, 02:38:30 PM »
Thanks All!  One milestone reached...
And now onto the next...

10K Total Networth!


Current Assets
(This includes all monies, even ones I will be spending soon... not a perfect measure, yet it feels like a good next step)

Money set aside for Self-Employment taxes: $622
Money in Bank Accts and Savings for spending : $4606
Savings:  $1861
My IRAs:  $6634
HSA: $985
Money to be invested (IRAs, HSA):  $451
Wife IRA:   $870

TOTAL ASSETS: $16,029

Current Liabilities
Credit card: $3496
Student loan: $4603

TOTAL LIABILITIES: $8099


CURRENT NETWORTH:  $7930

Okay the latest on our net worth:

Current Assets
(This includes all monies, even ones I will be spending soon... not a perfect measure, yet it feels like a good next step)

Money set aside for Self-Employment taxes: $808
Money in Bank Accts and Savings for spending : $3093
Savings:  $2770
My IRAs:  $6935
HSA: $1152
Wife IRA:   $1023

TOTAL ASSETS: $15,780

Current Liabilities
Credit card: $3472
Student loan: $4602

TOTAL LIABILITIES: $8073


CURRENT NETWORTH:  $7708


Not as much progress as I would have liked, and I realize that it hasn't been a full month since I updated this.
Still, the trend is upward!

Gardo

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Re: Saving to $10K
« Reply #175 on: May 17, 2017, 08:39:55 PM »
Guys I want to congratulate all of you for sticking with the thread.  I browsed through and saw some great updates in here. 

I on other hand got creamed with HVAC replacement ($4400) and have paid it on installments but definitely got me in a hole.  I should be able to finish paying it September and then I can go back here and start saving again. 

Congrats to those who graduated and went to the $10K to $100K race.  I myself had joined on there but it was for my 401K.

Trifele

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Re: Saving to $10K
« Reply #176 on: May 24, 2017, 05:35:11 AM »
Haha, Gardo -- thanks for checking in!  Lots of folks were wondering where you'd gotten to.   And the mystery is solved as to how you could hop over to the next thread so fast!  I've seen that on other threads as well -- we can use challenges selectively, everything from building up a cash reserve to looking at overall total net worth.  Congratulations on your progress!

How is everyone else doing?   Has May been a good month so far?



Mongoose

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Re: Saving to $10K
« Reply #177 on: May 24, 2017, 06:52:01 AM »
This is by far my favorite thread to read. You guys rock! I'll update my e-fund goal numbers after payday.

I'm almost there. So close, and yet so far.

My current NW is about -16K.

I'm saving to a 10K emergency fund that I will eventually build up to 14K since that's about 6 months of expenses for me.

Right now I have $7250/10K saved up and am making large student loan debt payments, so 2K goes to loans, and 500 goes to savings each month. I'd love to spend 2 or 3 months and just get a nice cushy savings account, but I very much want to get out of debt ASAP so I'm prioritizing that. With 2K-per-month payments I'm still looking at August 2019 payoff, so I'm trying to just scrape every penny and put it over into my loans to possibly pay it off faster.

Should I be prioritizing a 6-month e-fund? I have a stable job and am still putting about 500/mo into savings (plus 401K etc)

Your current strategy sounds good. You should hit your e-fund goal of 6 months saved in a little over a year with your current savings rate. And the debt is presumably costing money in interest so it makes sense to prioritize that. Once you hit a comfortable e-fund goal, you can dump the extra $500 into the debt and clear it faster.

It's good to have some savings when you get the debt paid off. We paid ours off three times...the first two didn't "take" because we didn't have much saved and had to use credit to deal with car replacement and basic expenses during an unexpected period of unemployment. This last time we're still staying out, I think because we did it backwards...got some savings ($5k) then dumped the debt.

MSquared

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Re: Saving to $10K
« Reply #178 on: May 25, 2017, 06:46:46 AM »
I myself had joined on there but it was for my 401K.

Now that makes much more sense!  :)  Sorry to hear about the mega HVAC bill though. 

Not a good month for me money wise -- $1400 dental bill for two crowns.  Ouch.  I also have $1000 that isn't in my savings anymore, but should be flowing back in once I sell my bike.  (Long story short -- I bought a different bike, but will be selling mine.  Hoping to break even-ish.)  So that cash is tied up in an extra bike in the garage at the moment.  BUT!!! But!  There is a good side of all this.  I had the cash!  I had the cash to pay a $1400 bill and not resort to credit cards.  I had the cash to be able to swap bikes when I found exactly what I had been looking for.  And I still have a good chunk of money in my e-fund.  So really, I can't complain too much.  Will post concrete numbers at month end.  It'll be way down, but I will build back up quickly. 

DieHard_772

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Re: Saving to $10K
« Reply #179 on: May 26, 2017, 08:01:07 AM »
But!  There is a good side of all this.  I had the cash!  I had the cash to pay a $1400 bill and not resort to credit cards.  I had the cash to be able to swap bikes when I found exactly what I had been looking for.  And I still have a good chunk of money in my e-fund.  So really, I can't complain too much.  Will post concrete numbers at month end.  It'll be way down, but I will build back up quickly.

That is awesome,  I bought a refrigerator earlier in the month, and it felt good to pay cash too.
 congratulations

vseddie

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Re: Saving to $10K
« Reply #180 on: May 29, 2017, 07:43:34 AM »
Will be using this for my 10k emergency fund goal ive started. Should be able to save 250/week for now and then 400/week if i can find someone to rent a room in my house.

Here we go!

May 2017 $439

msmarieh

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Re: Saving to $10K
« Reply #181 on: May 29, 2017, 10:08:18 AM »
Hello all! I'm jumping in on this thread. :)  All my net worth is tied up in house/retirement savings. I need to build up some cash/emergency funds. My goal is to hit $10K before December.

$4,336.60 Savings
$1,674.28 Money Market
$6,010.88 TOTAL
« Last Edit: May 29, 2017, 10:13:39 AM by msmarieh »

MSquared

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Re: Saving to $10K
« Reply #182 on: May 31, 2017, 10:22:03 AM »
End of May update:

Emergency fund: $3766
401k: $783
TOTAL: $4549

Onward and upward next month!

haypug16

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Re: Saving to $10K
« Reply #183 on: May 31, 2017, 12:45:46 PM »
End of Month Update

3/31/2017 (52,848.85)
4/30/2017 (48,076.67)
5/31/2017 (47,110.22) +966.45

Didn't hit my $2K goal for this month but still close to $1,000 increase in net-worth so I'm going in the right direction. I get 3 checks in June (normally I just get 2) so I plan to make up the difference and increase my net-worth by $3,000 in June, maybe more if I can swing it. I should still be able to hit positive net-worth by May 2019 then $10K and move on to the next challenge by October 2019.

How was everyone else's month?
« Last Edit: May 31, 2017, 12:59:50 PM by haypug16 »

DieHard_772

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Re: Saving to $10K
« Reply #184 on: June 02, 2017, 10:28:00 AM »
Moving right along, haypug16! 

Here's my update:




Current Assets
(This includes all monies, even ones I will be spending soon... not a perfect measure, yet it feels like a good next step)

Money set aside for Self-Employment taxes: $808
Money in Bank Accts and Savings for spending : $3093
Savings:  $2770
My IRAs:  $6935
HSA: $1152
Wife IRA:   $1023

TOTAL ASSETS: $15,780

Current Liabilities
Credit card: $3472
Student loan: $4602

TOTAL LIABILITIES: $8073


CURRENT NETWORTH:  $7708


Not as much progress as I would have liked, and I realize that it hasn't been a full month since I updated this.
Still, the trend is upward!

AS of 6/2/17:

Money set aside for Self-Employment taxes: $1162 (Doesn't include nearly $1000 my wife also has set aside for it, which is reflected in "Savings" below)
Money in Bank Accts and Savings for spending : $4569
Savings:  $3348
My IRAs:  $7042
HSA: $1166
Wife IRA:   $1038
Money to be invested this month:  $516

TOTAL ASSETS: $18842

Current Liabilities
Credit card: $3365
Student loan: $4526

TOTAL LIABILITIES: $7892


CURRENT NETWORTH:  $10,950!

I'll enjoy it while we got it: this includes several thousand dollars that are going to go out this month for expenses, so the networth will soon shrink.
Yet it's nice to have passed the $10k networth for at least a little while... soon it will be permanent!


Trifele

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Re: Saving to $10K
« Reply #185 on: June 03, 2017, 04:36:13 AM »
Moving right along, haypug16! 

Here's my update:




Current Assets
(This includes all monies, even ones I will be spending soon... not a perfect measure, yet it feels like a good next step)

Money set aside for Self-Employment taxes: $808
Money in Bank Accts and Savings for spending : $3093
Savings:  $2770
My IRAs:  $6935
HSA: $1152
Wife IRA:   $1023

TOTAL ASSETS: $15,780

Current Liabilities
Credit card: $3472
Student loan: $4602

TOTAL LIABILITIES: $8073


CURRENT NETWORTH:  $7708


Not as much progress as I would have liked, and I realize that it hasn't been a full month since I updated this.
Still, the trend is upward!

AS of 6/2/17:

Money set aside for Self-Employment taxes: $1162 (Doesn't include nearly $1000 my wife also has set aside for it, which is reflected in "Savings" below)
Money in Bank Accts and Savings for spending : $4569
Savings:  $3348
My IRAs:  $7042
HSA: $1166
Wife IRA:   $1038
Money to be invested this month:  $516

TOTAL ASSETS: $18842

Current Liabilities
Credit card: $3365
Student loan: $4526

TOTAL LIABILITIES: $7892


CURRENT NETWORTH:  $10,950!

I'll enjoy it while we got it: this includes several thousand dollars that are going to go out this month for expenses, so the networth will soon shrink.
Yet it's nice to have passed the $10k networth for at least a little while... soon it will be permanent!

Woo Hoo DieHard!!  Congratulations!   

MissPiggy

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  • Location: Sydney
    • The Earnest Addiction - A Millennial's Journey to FIRE
Re: Saving to $10K
« Reply #186 on: June 03, 2017, 09:25:24 AM »
Jumping in here join!

Current cash position: $1000
Net Worth:  NEGATIVE -$11,800 eek :/

While I have a small amount of cash squirrelled away for another purpose, I have no set-aside money for an emergency fund. So, I'm joining in with the goal of building this emergency fund from essentially $0 to $10k.
xx Miss Piggy

-----
The Earnest Addiction - A Millennial's Journey to FIRE
https://theearnestaddiction.wordpress.com/

msmarieh

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  • Married woman on a journey to FI
Re: Saving to $10K
« Reply #187 on: June 03, 2017, 11:04:20 AM »
My goal is to hit $10K before December for cash on hand.

This month will include paying for a sidewalk and surgery for my kitty, so the number will actually go down.

Update:

$6,487.92 Savings
$1,658.19 Money Market
$8,146.11 TOTAL

DieHard_772

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Re: Saving to $10K
« Reply #188 on: June 03, 2017, 11:32:35 AM »

Woo Hoo DieHard!!  Congratulations!


Thanks Trifele
It means a lot.
A few years ago, even this milestone seemed so far away.

Trifele

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Re: Saving to $10K
« Reply #189 on: June 04, 2017, 04:41:55 AM »

Woo Hoo DieHard!!  Congratulations!


Thanks Trifele
It means a lot.
A few years ago, even this milestone seemed so far away.

Will be there to cheer you on in the next thread!  ;)

haypug16

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Re: Saving to $10K
« Reply #190 on: June 06, 2017, 12:16:48 PM »
Moving right along, haypug16! 

Thanks DieHard and nice job hitting $10K even if its temporary at the moment. I can't wait to post my June update.

DieHard_772

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Re: Saving to $10K
« Reply #191 on: June 09, 2017, 06:51:59 PM »
Moving right along, haypug16! 

Thanks DieHard and nice job hitting $10K even if its temporary at the moment. I can't wait to post my June update.

Thank you,
I can't wait until I can save more of my income.
I can't wait until I can max out my IRAs, then have my wife max out hers.
I can't wait until I can max out our HSA
I can't wait until I can add extra savings every month to our savings account AND get all other expenses covered (including my Qapital daily and weekly savings) AND have extra in my bank account

Looking forward to your update too..  ;)

DieHard_772

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Re: Saving to $10K
« Reply #192 on: June 09, 2017, 06:52:53 PM »
Today I saw that, combined, our investments are only a few hundred under $10,000... for the first time ever
:)

jed2009

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    • Bloodstone Amplification
Re: Saving to $10K
« Reply #193 on: June 21, 2017, 12:15:33 PM »
Hey guys!

Love this thread.  The intial post about that first 10k was definitely awesome.  I am over that mark now, but not too long ago started with just some cash in hand.  Hoping sharing my past few years can be some motivation!  Income grew from 30k in 2014 and 2015, to 40k in 2016 and now 60k for 2017.

Sept 2014:
Cash: $3,700
401k basis: $215
IRA: N/A
Total: $3,915

Sept 2015:
Cash: $2,500
401k basis: $1,800
IRA basis: $4,600
Total: $8,900

Sept 2016:
Cash: $4,800
401k basis: $6,500
IRA basis: $6,700
Total: $18,000

Last month:
Cash: $6,200
401k basis: $10,200
IRA basis: $8,900
Pension value: $680
Total: $25,980
On the road to financial freedom.

Blog/Tracker: https://bloodstoneamplification.wordpress.com/

DieHard_772

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Re: Saving to $10K
« Reply #194 on: June 21, 2017, 03:27:12 PM »
Hey guys!

Love this thread.  The intial post about that first 10k was definitely awesome.  I am over that mark now, but not too long ago started with just some cash in hand.  Hoping sharing my past few years can be some motivation!  Income grew from 30k in 2014 and 2015, to 40k in 2016 and now 60k for 2017.

Sept 2014:
Cash: $3,700
401k basis: $215
IRA: N/A
Total: $3,915

Sept 2015:
Cash: $2,500
401k basis: $1,800
IRA basis: $4,600
Total: $8,900

Sept 2016:
Cash: $4,800
401k basis: $6,500
IRA basis: $6,700
Total: $18,000

Last month:
Cash: $6,200
401k basis: $10,200
IRA basis: $8,900
Pension value: $680
Total: $25,980

Awesome jed2009, way to go, that is great.

I started savings/investing about six months after you, and I'm so glad I got going too

way to reach 25K! 

lemonverbena

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Re: Saving to $10K
« Reply #195 on: June 22, 2017, 01:10:45 PM »
Jan 2017:
SEP IRA: $225
Car loan: -$7825

Total: -$7600


Late Jan 2017:
SEP IRA: $225
tIRA: $1590
Car loan: -$7825

Total: -$6010


Mid Feb 2017:
SEP IRA: $226
tIRA: $1604
Car loan: -$5593

Total: -$3763

Mar 2017:
SEP IRA: $227
tIRA: $1630
Car loan: -$5593
Roof loan: -$8864

Total: -$12,600

Numbers going way in the wrong direction, but a roof replacement is so overdue and it feels good to be taking care of it. Should have half of it paid off by the end of the month.

Actually, make that by the end of June.

Mid-Apr 2017:
SEP IRA: $231
tIRA: $1624
Car loan: -$5120
Roof loan: -$8864
Emergency fund: $1000

Total: -$11,129

Late-Jun 2017:
SEP IRA: $245
tIRA: $1702
Car loan: -$4645
Roof loan: -$3864
Emergency fund: $1000

Total: -$5,562

Not even close to zero yet, but moving in the right direction again!

haypug16

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Re: Saving to $10K
« Reply #196 on: June 27, 2017, 09:21:15 AM »
I had a very expensive month! $1,600 for Car Insurance for the year. I pay for the full year up front. That was a big hit, then I had to take my cat to the vest $300 later she's doing great for 18 :) Threw a surprise party for my dad's 70th birthday that was a couple hundred, and a few other things here and there means I'll be lucky to break even this month. I'll post my official numbers on Friday but not the great month I was hoping for but what's done is done and July should not be too bad *knock on wood*

Edit - Also forgot about the $700 for a crown (the other $700 will be paid in July)
« Last Edit: June 27, 2017, 09:25:03 AM by haypug16 »

Trifele

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Re: Saving to $10K
« Reply #197 on: June 27, 2017, 10:11:57 AM »
I had a very expensive month! $1,600 for Car Insurance for the year. I pay for the full year up front. That was a big hit, then I had to take my cat to the vest $300 later she's doing great for 18 :) Threw a surprise party for my dad's 70th birthday that was a couple hundred, and a few other things here and there means I'll be lucky to break even this month. I'll post my official numbers on Friday but not the great month I was hoping for but what's done is done and July should not be too bad *knock on wood*

Edit - Also forgot about the $700 for a crown (the other $700 will be paid in July)

We had a very high-spend month as well due to some high one-time expenses.  The important thing is not to let it derail you . . .  It's just a bump in the road, so we clear it and move on.  :)


MSquared

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Re: Saving to $10K
« Reply #198 on: June 28, 2017, 02:45:59 PM »
I had a very expensive month! $1,600 for Car Insurance for the year. I pay for the full year up front. That was a big hit, then I had to take my cat to the vest $300 later she's doing great for 18 :) Threw a surprise party for my dad's 70th birthday that was a couple hundred, and a few other things here and there means I'll be lucky to break even this month. I'll post my official numbers on Friday but not the great month I was hoping for but what's done is done and July should not be too bad *knock on wood*

Edit - Also forgot about the $700 for a crown (the other $700 will be paid in July)

Welcome to the dental expenses club with me!  :sad high five:  Glad your kitty is doing okay!

I also had an expensive month, but my net worth still went up (even if only a little.)  At least I'm still heading up.  I need an uber frugal July!

DieHard_772

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Re: Saving to $10K
« Reply #199 on: June 28, 2017, 03:15:52 PM »
I had a very expensive month! $1,600 for Car Insurance for the year. I pay for the full year up front. That was a big hit, then I had to take my cat to the vest $300 later she's doing great for 18 :) Threw a surprise party for my dad's 70th birthday that was a couple hundred, and a few other things here and there means I'll be lucky to break even this month. I'll post my official numbers on Friday but not the great month I was hoping for but what's done is done and July should not be too bad *knock on wood*

Edit - Also forgot about the $700 for a crown (the other $700 will be paid in July)

Welcome to the dental expenses club with me!  :sad high five:  Glad your kitty is doing okay!

I also had an expensive month, but my net worth still went up (even if only a little.)  At least I'm still heading up.  I need an uber frugal July!

My income took a nose dive due to the loss of multiple clients.. and for awhile there massive panic ensued.  I felt like I was experiencing my own personal market crash, lol.
Anyway, determined to pick up the pieces and keep pressing forward.