Author Topic: Saving to $10K  (Read 31981 times)

Imma

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Re: Saving to $10K
« Reply #250 on: August 03, 2017, 12:50:12 AM »
Congratulations on getting to $5000, runbikerun and Tess! I hope to join you in a couple of months.

JanetJackson

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Re: Saving to $10K
« Reply #251 on: August 07, 2017, 08:56:52 AM »
Sooooooo...
Since I made my 6mo car insurance payment, I am not showing as much progress, even though the other accounts went up. 
I am still enrolled and in classes, so I have not made any student loan payments, so those remain the same. 
I did adjust the income of my day job to split $200/mo from each check to go directly into savings- that starts this payday (Friday) so I am hoping it works out and I can survive within my budget (this tightens things up a bit more, where it's already pretty pretty tight).  I live only on the income from the day job and save everything from Job #2 and all side hustles (pet sitting, house cleaning, etc). 

I also quit my gym last week (sad face) so I won't have those payments for a few months until I find another gym home.  I am incomplete and miserable without a gym, and it's something I have to give myself and my health, but the atmosphere/situation at my gym was not improving the quality of my life in relation to the expense- so it was time to go!  Hopefully I can find something just a pinch cheaper, but fulfilling. 
I also pulled out $1100 from General Savings this month to open my Vanguard account!! 
I guess I'm not "technically" in the hole more, but it sure feels like it right now with this minimal progress.
I do have three $200-$400 pet-sitting gigs upcoming on my books, so that'll help!

Keep chugging along!  Choo Choo!

Assets:
Emergency fund + General savings = 5274
Vehicle Emergency Fund = 1183
Pet Emergency Fund = 539
Car Insurance collection (paid from yearly) = 101 (just paid this)
Camper/Tiny home Savings = 1703
Consistent Checking Surplus for immediate emergencies = 200
IRA = 22.06
Vanguard = 1100.00 :/

TOTAL: 8939.06

*It also makes me feel better to list these assets:
Car value: ~5000
Value if I sold literally everything else I own: maybe 600?



Liabilities
Student Loan #1 = 11,000 at 1.9%
Student Loan #2 = 5,200 at 2.3%

TOTAL: 16200


Net worth: -7260.94

I'm jumping in!
Assets:
Emergency fund + General savings = 4716
Vehicle Emergency Fund = 1183
Pet Emergency Fund = 523
Car Insurance collection (paid from yearly) = 297
Camper/Tiny home Savings = 1627
Consistent Checking Surplus for immediate emergencies = 200
IRA = 4.10 :/

TOTAL: 8550.10

*It also makes me feel better to list these assets:
Car value: ~5000
Value if I sold literally everything else I own: maybe 600?



Liabilities
Student Loan #1 = 11,000 at 1.9%
Student Loan #2 = 5,200 at 2.3%

TOTAL: 16200


Net worth: -7649.90
(gosh, almost makes me want to sell my car and walk the 30 miles to work....)

Imma

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Re: Saving to $10K
« Reply #252 on: August 07, 2017, 11:14:38 AM »
Still well done JanetJackson! And it's good to see you've budgeted for future pet costs - I know so many irresponsible pet owners who don't.

Tass

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Re: Saving to $10K
« Reply #253 on: August 07, 2017, 04:42:29 PM »
I've gotten carried away with spreadsheets today and decided that my goal should be to hit 10k by the end of the year. I started 2017 at about $2k, got a big bump from my tax return, and cracked $7k last week. Most of that last $3k will come from my existing savings plan, but reaching $10k will mean squeezing out an extra $600 total by Dec. It's only $28/week...

On the one hand, I have a 3-paycheck month coming up in Sept which I've budgeted to be pure windfall; on the other hand, travel plans will set me backwards in NW even though I've saved up for them. Also, I just moved, and I'm not positive what my new utility bills will look like, so I'm definitely getting ahead of myself. I'll give myself bonus points for enthusiasm, though. This might be a stretch but I'm going to stretch for it!

Thanks for the warm welcome and I look forward to our shared crusade.

fluffmuffin

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Re: Saving to $10K
« Reply #254 on: August 08, 2017, 08:20:56 AM »
$28/week, Tass? You can definitely do it!

MSquared

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Re: Saving to $10K
« Reply #255 on: August 08, 2017, 09:09:05 AM »
High five, Tass!  We're in almost the same situation.  I started the year with about $2K, hoping to hit $10K around November(ish) now.

Tass

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Re: Saving to $10K
« Reply #256 on: August 08, 2017, 11:47:02 AM »
Hi five indeed! It's really exciting to see that graph start to move upward - to my retrospective chagrin, it's pretty flat through 2016. I'm really excited to finish 2017 a lot stronger.

I'm doing my research to buy a bike at the moment, which will hopefully help me eke those $$ out. Only another couple weeks of gas guzzling for me.

marielle

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Re: Saving to $10K
« Reply #257 on: August 08, 2017, 12:07:31 PM »
It's going to take me /slightly/ longer than expected to reach 0 net worth and subsequently $10k net worth. I'm about to move for the 4th time in the past 13 months or so. Hopefully a bit more permanent this time.

The pet fee is $600 for two cats + $40 per month (ouch!) but the security deposit should be only $200. My current roommate/landlord is kicking me out earlier than my friend can move in to the new place so that's going to cost me more as well. All in all though, I will be driving 38 miles less each day to work than I did a few months ago, which is HUGE. If I estimate 30 cents a mile, that's a savings of $2850 a year. I tried for half a year to find a place within biking distance with no luck, but I possibly could do the 18 mile commute by e-bike or drive half, ride half. The sucky thing is that the commute is actually further on the bike than by car in terms of miles.

MSquared

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Re: Saving to $10K
« Reply #258 on: August 08, 2017, 01:58:51 PM »
I'm doing my research to buy a bike at the moment, which will hopefully help me eke those $$ out. Only another couple weeks of gas guzzling for me.

Oh, exciting!  What kind of bike?  What's your budget?  I try to ride my bike to work 2-3 times a week.  At a 30 mile round trip, it's a bit of a haul for me to do it more often. 

Tass

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Re: Saving to $10K
« Reply #259 on: August 08, 2017, 06:01:42 PM »
I'm doing my research to buy a bike at the moment, which will hopefully help me eke those $$ out. Only another couple weeks of gas guzzling for me.

Oh, exciting!  What kind of bike?  What's your budget?  I try to ride my bike to work 2-3 times a week.  At a 30 mile round trip, it's a bit of a haul for me to do it more often.

"What kind of bike" is kind of what I'm trying to figure out, lol. I'm going for what MMM described as an "instant gratification bike" - something low-maintenance and relatively comfortable that won't break the bank, so I can gain a little confidence. The commute is 3.4 miles one way (with hills) and 6.7 the other (all downhill/flat) due to an oddity of the bike path being attached to a highway. (It's only a mile and a half as the crow flies, but there's a darn mountain in the way.)

Anyway, I'm probably looking for a hybrid in the low hundreds of dollars, willing to buy used. Let me know if you have any advice. I plan to drop in on a bike shop and learn about measurements one of these weekends.

@marielle moving sucks, I just finished doing that myself. Fingers crossed for permanence!

twistedfirestarter

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Re: Saving to $10K
« Reply #260 on: August 09, 2017, 01:14:58 AM »
My first update, have been working in reducing our spending, fewer takeaways and less eating out. Have now increased payments into savings to 2k per month (~60%) and avoided spending this year's bonus putting it straight in here.

April £1250
(+1250)
May £2515
(+1250)
June £3841
(+1250 +1750)
July £6774 / $8705

Can't believe how well this is going. So glad I found MMM.

(+2000)
August £8916 / $11597 !

Insanely pleased with the growth of our stache, FI still feels a very long way off but I'm certain we wouldn't be where we are now if this amazing community didn't exist.

I've always had frugal tendencies but without a clear financial goal to support them I was tempted (bullied) towards the spendy dark side. You guys remind me that I'm the financially sane one by not going along with the status quo.

Snow

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Re: Saving to $10K
« Reply #261 on: August 09, 2017, 01:54:21 AM »
This seems like a good place to start!

As of right now, here is a rough outline:

Funds: ~$1k
Emergency fund: ~$100 (summer has been tough)

Won't break 10k this year, but next year, for sure! Aiming for getting half-way there by the end of the year!

Edit to add: Oh, I suppose my 4k mortgage fund should go into the total as well. In which case 10k suddenly doesn't feel so far off. Finishing by the end of this year suddenly seems within grasp!
« Last Edit: August 09, 2017, 10:44:14 AM by Snow »

MSquared

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Re: Saving to $10K
« Reply #262 on: August 09, 2017, 07:41:12 AM »
I'm doing my research to buy a bike at the moment, which will hopefully help me eke those $$ out. Only another couple weeks of gas guzzling for me.

Oh, exciting!  What kind of bike?  What's your budget?  I try to ride my bike to work 2-3 times a week.  At a 30 mile round trip, it's a bit of a haul for me to do it more often.

"What kind of bike" is kind of what I'm trying to figure out, lol. I'm going for what MMM described as an "instant gratification bike" - something low-maintenance and relatively comfortable that won't break the bank, so I can gain a little confidence. The commute is 3.4 miles one way (with hills) and 6.7 the other (all downhill/flat) due to an oddity of the bike path being attached to a highway. (It's only a mile and a half as the crow flies, but there's a darn mountain in the way.)

Anyway, I'm probably looking for a hybrid in the low hundreds of dollars, willing to buy used. Let me know if you have any advice. I plan to drop in on a bike shop and learn about measurements one of these weekends.

@marielle moving sucks, I just finished doing that myself. Fingers crossed for permanence!

If you're in the $300 range, used is definitely the way to go.  You'll get more bang for your buck.  I would look for something similar to a Trek FX or Specialized Sirrus.  Don't buy anything with a suspension fork; it's just wasted energy on the road.  Since you're commuting, it's nice to have something with attachments for a rack.  (But I did my commute with a backpack for a while too, so it won't kill you.)  Going to the bike shop first is a fantastic idea.  Riding the right size bike is key to your comfort! 

Trifele

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Re: Saving to $10K
« Reply #263 on: August 09, 2017, 08:25:39 AM »
My first update, have been working in reducing our spending, fewer takeaways and less eating out. Have now increased payments into savings to 2k per month (~60%) and avoided spending this year's bonus putting it straight in here.

April 1250
(+1250)
May 2515
(+1250)
June 3841
(+1250 +1750)
July 6774 / $8705

Can't believe how well this is going. So glad I found MMM.

(+2000)
August 8916 / $11597 !

Insanely pleased with the growth of our stache, FI still feels a very long way off but I'm certain we wouldn't be where we are now if this amazing community didn't exist.

I've always had frugal tendencies but without a clear financial goal to support them I was tempted (bullied) towards the spendy dark side. You guys remind me that I'm the financially sane one by not going along with the status quo.

Nice job ClickHappy!! 

fluffmuffin

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Re: Saving to $10K
« Reply #264 on: August 09, 2017, 08:34:45 AM »
Way to go, Clickhappy! Am I reading it right that you are officially graduated?

Also in light of the bike conversation: is this a safe space to admit that I never learned how to ride a bike? (I know, I know. There are reasons but it's still ridiculous.) I would be in a great situation to bike commute two or three days a week...if only I knew how. One of my resolutions for 2017 was to learn how to ride a bike. It's August, so um, I should probably get started on that. Suggestions and facepunches welcomed.

twistedfirestarter

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Saving to $10K
« Reply #265 on: August 09, 2017, 08:43:44 AM »
Way to go, Clickhappy! Am I reading it right that you are officially graduated?

I am the next target is rather daunting though, going to take a while.

Trifele

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Re: Saving to $10K
« Reply #266 on: August 09, 2017, 09:08:26 AM »
Way to go, Clickhappy! Am I reading it right that you are officially graduated?

I am the next target is rather daunting though, going to take a while.

"Just keep swimming, just keep swimming . . . "  :)  You will absolutely get there.

Tass

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Re: Saving to $10K
« Reply #267 on: August 09, 2017, 10:45:00 AM »
I got invited to dinner at my favorite restaurant last night and was forced to turn it down due to a prior commitment. Rah-rah for forced mustachianism, I guess... That's half of my $28/week unspent.

Also in light of the bike conversation: is this a safe space to admit that I never learned how to ride a bike? (I know, I know. There are reasons but it's still ridiculous.) I would be in a great situation to bike commute two or three days a week...if only I knew how. One of my resolutions for 2017 was to learn how to ride a bike. It's August, so um, I should probably get started on that. Suggestions and facepunches welcomed.

Hey, as a grad student I make a point of not shaming people simply for not knowing things. Having knowledge and failing to act on it is a much greater offense. But I'm betting if you could borrow a bike and dedicate a Saturday you'd get the basics down fast!

the next target is rather daunting though, going to take a while.

I'm sure some of us will be joining you for a looooong slog through the 100k race before long. Take advantage of your head start!

Won't break 10k this year, but next year, for sure! Aiming for getting half-way there by the end of the year!

5k by Dec 31? Sounds like a solid goal!

Snow

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Re: Saving to $10K
« Reply #268 on: August 09, 2017, 10:52:44 AM »
Won't break 10k this year, but next year, for sure! Aiming for getting half-way there by the end of the year!

5k by Dec 31? Sounds like a solid goal!

Ha, thanks! I just realised that I should add my mortgage fund to this tally as well (4k). I always forget it when doing net worth calculations, since it isn't liquid (cannot be withdrawn without talking to your bank, has to be used on a mortgage or house improvements or the state will demand you pay the tax they gave you back for saving). 5k is still my saving goal this year going forward, but that will actually tilt my total over 10k! Graduation by the end of 2017, yahs!

MSquared

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Re: Saving to $10K
« Reply #269 on: August 09, 2017, 11:36:07 AM »
Congrats, Clickhappy!!!  Hopefully we'll be seeing each other again soon in the next thread. 

Also in light of the bike conversation: is this a safe space to admit that I never learned how to ride a bike? (I know, I know. There are reasons but it's still ridiculous.) I would be in a great situation to bike commute two or three days a week...if only I knew how. One of my resolutions for 2017 was to learn how to ride a bike. It's August, so um, I should probably get started on that. Suggestions and facepunches welcomed.

Do it!  I'm not really sure how you learn to ride a bike as an adult.  Seeing that there are youtube videos for everything under the sun these days, that might be a good place to start?

MSquared

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Re: Saving to $10K
« Reply #270 on: August 09, 2017, 11:39:31 AM »
Every year at work, we get a gift card to the local gas station for the holidays - right around mid-December.  Mine was $300.  I finally used the last of it yesterday when I put gas in my car.  Now I have to budget for gas again!  Well, until December.  :)

Moonwaves

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Re: Saving to $10K
« Reply #271 on: August 10, 2017, 04:11:21 AM »
Congrats, Clickhappy!!!  Hopefully we'll be seeing each other again soon in the next thread. 

Also in light of the bike conversation: is this a safe space to admit that I never learned how to ride a bike? (I know, I know. There are reasons but it's still ridiculous.) I would be in a great situation to bike commute two or three days a week...if only I knew how. One of my resolutions for 2017 was to learn how to ride a bike. It's August, so um, I should probably get started on that. Suggestions and facepunches welcomed.

Do it!  I'm not really sure how you learn to ride a bike as an adult.  Seeing that there are youtube videos for everything under the sun these days, that might be a good place to start?
I've seen bits in the newspaper and on the web about people offering lessons to adults. Find out if you have a local (or local chapter of a national) biking association and phone them to ask if they know of anything. Or try your friendly local bike shop.
At the risk of sounding patronising, have you ever ridden an exercise bike? 'Cos if you have, you already know the mechanics of how to ride a bike, just need to practice the balance part of it. Good luck. I've actually thought about having lessons to try and become a better cyclist. I can stay upright and get from A to B but I'm not a very confident cyclist and definitely have lots of room for improvement.

fluffmuffin

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Re: Saving to $10K
« Reply #272 on: August 10, 2017, 08:04:51 AM »
I've seen bits in the newspaper and on the web about people offering lessons to adults. Find out if you have a local (or local chapter of a national) biking association and phone them to ask if they know of anything. Or try your friendly local bike shop.
At the risk of sounding patronising, have you ever ridden an exercise bike? 'Cos if you have, you already know the mechanics of how to ride a bike, just need to practice the balance part of it. Good luck. I've actually thought about having lessons to try and become a better cyclist. I can stay upright and get from A to B but I'm not a very confident cyclist and definitely have lots of room for improvement.

Hmm...just looked around on some websites and it doesn't look like anyone is advertising anything for total beginners. There are definitely seminars for people who know the basics but are looking to improve, so you should actually check out those classes! But alas I don't see anything for the lucky few in my situation :) I also did some exploration on Youtube and it looks like, as I suspected, that I need a bike in order to make this work. All of my friends in the area are either 5'8 Amazons or only own expensive tri bikes. I guess I should be saving for a bike, too.

I have been on stationary bikes plenty, am generally athletic, and grew up horseback riding so I can balance on narrow things moving at high speeds. (Which, incidentally, is a big reason I never learned how to ride a bike: I had a pony! Eight-year-old Fluffmuffin was way more into ponies than stupid metal wheel things, and could easily sub pony for bike in the countryside.) So I know that I can do this!

Imma

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Re: Saving to $10K
« Reply #273 on: August 10, 2017, 11:00:03 AM »
If you are fit and you can ride a horse, you will have no problems at all learning how to ride a bike. Well, it's easy for me to say as I'm Dutch and Dutch kids learn to ride a bike at the same age they learn to walk, but I've only ever met one person who didn't manage to learn to ride a bike in adulthood. That person was my MIL who lived in Asia for the first 40 years of her life, and I'm pretty sure the only reason she didn't learn it eventually is because she's so afraid to fall she gave up. But as a horse person, I'm sure you're not like that.
Don't buy a proper new expensive bike as your first one. You are going to fall when you're just starting out and a bike will get damaged when you fall. Buy the cheapest second hand you can find, learn to ride it, then treat yourself to a nice shiny bike to celebrate your accomplishment.

Snow

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Re: Saving to $10K
« Reply #274 on: August 10, 2017, 11:10:43 AM »
^ + 1 What Imma said!

fluffmuffin

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Re: Saving to $10K
« Reply #275 on: August 10, 2017, 11:37:51 AM »
Thanks for the encouragement yall. I know I just need to bite the bullet and find a way to get started. I'm pretty sure biking would even save me time on my commute, since I wouldn't have to fight for parking with all the students and then walk 10-15 minutes.

I'm not sure I trust myself on Craigslist since I have zero clues what to look out for, but I Yelped around and there's a reputable-looking shop specializing in used bikes a few blocks away from my job. Maybe I'll check them out after work tomorrow to get a sense of what's out there.

Moonwaves

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Re: Saving to $10K
« Reply #276 on: August 10, 2017, 11:51:03 AM »
I googled a bit and there seems to be a few sites with ideas for how adults should learn cycling. Key seems to be rolling along with your legs just up, not on the pedals, until you find your balance. Then you can start pedalling.

MSquared

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Re: Saving to $10K
« Reply #277 on: August 10, 2017, 02:40:16 PM »
I'm not sure I trust myself on Craigslist since I have zero clues what to look out for, but I Yelped around and there's a reputable-looking shop specializing in used bikes a few blocks away from my job. Maybe I'll check them out after work tomorrow to get a sense of what's out there.

That's a great idea.  Hopefully they have someone knowledgeable there about bike fitting that can help you.  How tall are you?  We can at least give you a few ballpark ideas on sizing by your height.  (But that's not the only thing in the equation.)  Don't ever let someone tell you a bike fits just because you can stand over it and the bar doesn't hit your crotch!

fluffmuffin

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Re: Saving to $10K
« Reply #278 on: August 10, 2017, 02:58:51 PM »
I'm 5'4. Thanks for all the support! Planning to wear pants and flat shoes tomorrow. A couple yelp reviews have mentioned this place doing bike fittings so hopefully the right sales people will be there.

DieHard_772

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Re: Saving to $10K
« Reply #279 on: August 11, 2017, 06:50:39 PM »

Oy, what a month.  I won't even go into it, I'm just glad to be done with it
Moving on...


Money set aside for Self-Employment taxes: $95
Money in Bank Accts and Savings for spending : $3948
Our Savings:  $2836
My IRAs:  $7284*
HSA: $1333
Wife IRA:   $1176
Money to be invested this month:  $129

*My IRAs are currently being transferred from Betterment to Vanguard, so I don't know the exact number.  Hopefully transfer will complete early next week.

TOTAL ASSETS: $16802

Current Liabilities
Credit card: $3262**
Student loan: $4480

**doesn't include about $160 I used a card to charge new glasses.  But that is 0% apr for 6 months and will be paid off.

TOTAL LIABILITIES: $7743


CURRENT NETWORTH:  $9059


This last month was definitely a chance to practice non-attachment.  Things really did not work out how I hoped, yet as they say,
what doesn't kill you makes you stronger... Onward and upward!

Okay, update time:




Money set aside for Self-Employment taxes: $947
Money in Bank Accts and Savings for spending : $1930
Our Savings:  $2203
My IRAs:  $7623
HSA: $1459
Wife IRA:   $1326
Money to be invested this month:  $167

TOTAL ASSETS: $15655

Current Liabilities
Credit card: $3180**
Student loan: $4454

**doesn't include about $160 I used a card to charge new glasses.  But that is 0% apr for 6 months and will be paid off.

TOTAL LIABILITIES: $7634


CURRENT NETWORTH:  $8021

OVERALL:
Okay, so there was a dip according to these numbers only because there is less in the bank accounts (which are used for monthly spending).
Nonetheless, the growth was less than usual because of a bit of a cash flow situation I had that reduced how much I could set aside...  Intending
to get back into the swing of things.

On the good side, our investments now total $10,575!






Tass

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Re: Saving to $10K
« Reply #280 on: August 11, 2017, 07:38:19 PM »
And the debt still decreased, so that's a plus!

fluffmuffin

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Re: Saving to $10K
« Reply #281 on: August 12, 2017, 04:02:55 AM »
Debt down and investments up? Sounds like a win, Diehard!

I went to the bike shop yesterday. The owner was super friendly and not judgmental at all, which I was kind of nervous about because my city's Venn diagram of snotty hipsters and cyclists has a lot of overlap in the middle. I tried out (aka sat on and kind of shuffled around the shop on) three bikes. The one I liked the best was a hybrid mountain bike. The guy said people were starting to use mountain bikes as commuters because our roads are so bad. It's $275, which seems reasonable for the brand according to the Internet. Probably going back to buy it on Monday or Tuesday!

martyconlonontherun

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Re: Saving to $10K
« Reply #282 on: August 12, 2017, 08:25:20 AM »
Background:
Age: 29
"Switched" Careers at 25.
Started taking personal finances 'seriously' around 27 (aka actually saving money, 401k, etc).
Started taking personal finances seriously around 29
Salary gradually up to 65k
Married but don't include house (equity/mortgage) or joint savings in these calculations since she's the boss, it gets messy with house equity/sweat equity ($40k total on a $170k house in May), and it will just be cherry on the top.
-Paid off car but not adding value of that in the calculation since its not worth more than a few Gs and requires maintenance
-4.5 years left of student loan payments I'm aggressively paying off/refinanced in January 17
-15 year mortgage in May
-Not including 529 accounts-Only a few hundred now, but it will be going to Godchildren/my future children so not my money in my eye.

January 2016-
($45k) Student Debt
($2k) Personal CC Debt
$8k 401k
NW: ($38k)

NW April 2016: ($36K)
July 2016: ($38k)
October 2016: ($22k)
January 2017: ($17k)
April 2017: ($10k)
July 2017: ($4.5k)
Current (August): (~$2.5k) - Retirement accounts up to $30k
Stretch goal is to be $10k by 30.
Hoping to increase 401k/IRA when the Sloans are paid off and hopefully some more salary. Realistic goal is to retire by 55 unless I really climb the corporate ladder.




MSquared

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Re: Saving to $10K
« Reply #283 on: August 13, 2017, 07:15:20 AM »
You're kicking ass, Diehard!  It sounds like you'll be out of here in no time.

I went to the bike shop yesterday. The owner was super friendly and not judgmental at all, which I was kind of nervous about because my city's Venn diagram of snotty hipsters and cyclists has a lot of overlap in the middle. I tried out (aka sat on and kind of shuffled around the shop on) three bikes. The one I liked the best was a hybrid mountain bike. The guy said people were starting to use mountain bikes as commuters because our roads are so bad. It's $275, which seems reasonable for the brand according to the Internet. Probably going back to buy it on Monday or Tuesday!

Make/model/size of the bike?  Nice job getting out there and going.  I know bike stuff can be intimidating! 

haypug16

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Re: Saving to $10K
« Reply #284 on: August 14, 2017, 07:13:03 AM »
Woohoo! unofficial mid-month update Net-Worth -$43,103.44 increase of $1,250.66 since the end of July. I get paid from my part-time job tomorrow so that'll go up again soon.

Leaving for my honeymoon tomorrow!!!. Mostly everything has been paid for and because I paid for more than my husband he is going to be covering all the food, etc. to catch up to me. So I'm just taking out a little cash for tips and a little spending money but hopefully will arrive back in Boston having only spend a few hundred over the next 3 weeks! That would be pretty amazing.
« Last Edit: August 14, 2017, 07:17:33 AM by haypug16 »

MsMonopolyDog

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Re: Saving to $10K
« Reply #285 on: August 15, 2017, 11:58:33 AM »
I notice everyone mentioning the money in their IRA - may I ask what/which IRA they use? Sorry for the dumb question, I am very new to being a Moustachian and am interested in putting some money into an IRA.


Tass

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Re: Saving to $10K
« Reply #286 on: August 15, 2017, 12:24:36 PM »
I also went to a bike shop yesterday and got some pointers on buying a used bike, and sent a couple craigslist queries last night ranging from $200-$400.

Only to discover my roommate is willing to give me his hand-me-down free! Unfortunately, it has rusted gears, wheels that don't spin freely (the brakes stop the front wheel), a suspension fork I don't need or want, and twist gears (I've heard trigger gears are more comfortable but no personal experience). It does at least have 21 speeds. And free is hard to beat. Any thoughts on whether I should give it a shot, or spend a little more on something that won't make me hate riding it up a hill every day?

I notice everyone mentioning the money in their IRA - may I ask what/which IRA they use? Sorry for the dumb question, I am very new to being a Moustachian and am interested in putting some money into an IRA.

I have mine through Fidelity purely for family history reasons. The general MMM recommendation is Vanguard, but I asked about comparing them over in the Investor's forum and there are plenty of people who say they're mostly comparable. https://forum.mrmoneymustache.com/investor-alley/fidelity-vs-vanguard-77284/

marielle

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Re: Saving to $10K
« Reply #287 on: August 15, 2017, 01:21:52 PM »
I also went to a bike shop yesterday and got some pointers on buying a used bike, and sent a couple craigslist queries last night ranging from $200-$400.

Only to discover my roommate is willing to give me his hand-me-down free! Unfortunately, it has rusted gears, wheels that don't spin freely (the brakes stop the front wheel), a suspension fork I don't need or want, and twist gears (I've heard trigger gears are more comfortable but no personal experience). It does at least have 21 speeds. And free is hard to beat. Any thoughts on whether I should give it a shot, or spend a little more on something that won't make me hate riding it up a hill every day?

Not a bike expert by any means, but this sounds kinda dangerous. If it's a cheap walmart-type bike, even worse. If it's a really good bike not from a department store you might be able to keep the frame and switch out other components? But I doubt it. If you post a picture or the brand/model here I'm sure people would be able to help you immediately.

Tass

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Re: Saving to $10K
« Reply #288 on: August 15, 2017, 01:37:22 PM »
I also went to a bike shop yesterday and got some pointers on buying a used bike, and sent a couple craigslist queries last night ranging from $200-$400.

Only to discover my roommate is willing to give me his hand-me-down free! Unfortunately, it has rusted gears, wheels that don't spin freely (the brakes stop the front wheel), a suspension fork I don't need or want, and twist gears (I've heard trigger gears are more comfortable but no personal experience). It does at least have 21 speeds. And free is hard to beat. Any thoughts on whether I should give it a shot, or spend a little more on something that won't make me hate riding it up a hill every day?

Not a bike expert by any means, but this sounds kinda dangerous. If it's a cheap walmart-type bike, even worse. If it's a really good bike not from a department store you might be able to keep the frame and switch out other components? But I doubt it. If you post a picture or the brand/model here I'm sure people would be able to help you immediately.

It's this bike: http://www.about-bicycles.com/Bike-Reviews/diamondback-wildwood-comfort.html

I was assuming I'd have to put some money into it to at least grease up the gears, but it is a decent bike underneath the rust - just not the exact kind of bike I was looking for. The alternative is paying $300ish for a used bike that's (hopefully) ready to go immediately, which I'm honestly leaning toward at the moment.

Imma

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Re: Saving to $10K
« Reply #289 on: August 15, 2017, 03:21:01 PM »
How usable is it? If it's free it's always worth a try. Greasing up the gears is something you can easily do yourself (youtube) and you can probably also fix the brakes. If it still doesn't work properly you can always buy a better one.

But then, I'm Dutch. In here there's some sort of Four Yorkshiremen-like competition going on about crappy bikes. People laugh at you if you have a fancy bike. Everyone rides crappy old bikes with non-shifting gears and broken lights. A well known government minister used to go to work on a 30 year old bike.

fluffmuffin

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Re: Saving to $10K
« Reply #290 on: August 16, 2017, 07:07:01 AM »
7/13/2017: $2,238.41
8/1/2017: $2,771.40
8/16/2017: $3,071.40

I'm feeling pretty good--August is a tough month for me, but I'm clicking along and hitting my numbers. If I weren't buying a bike, I would have had an extra $200 to throw on top of the $300 from my most recent paycheck. I even contributed some extra money into my Roth for the first time in ages. And I'm officially FREE of my contract with my spendypants gym! I still love it and I'll miss the community, but it's just time for something new at a lower price point.

I'm headed back to the bike shop after work today!

How usable is it? If it's free it's always worth a try. Greasing up the gears is something you can easily do yourself (youtube) and you can probably also fix the brakes. If it still doesn't work properly you can always buy a better one.

But then, I'm Dutch. In here there's some sort of Four Yorkshiremen-like competition going on about crappy bikes. People laugh at you if you have a fancy bike. Everyone rides crappy old bikes with non-shifting gears and broken lights. A well known government minister used to go to work on a 30 year old bike.

I love this. I wish America had some of those values!

marielle

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Re: Saving to $10K
« Reply #291 on: August 16, 2017, 09:02:55 AM »
Finally received my security deposit from my previous apartment and I got the FULL deposit back! It was only $500 but now I'm less than one paycheck from $0 net worth! I am worried about my current deposit because my landlord is a huge PITA and a jerk, but at least it's only $350. Small lesson to pay for future living situations if I don't get it back. Document absolutely everything!

@fluffmuffin Congrats on getting a bike! I was so excited to get mine. And that sounds like a great deal too!

MSquared

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Re: Saving to $10K
« Reply #292 on: August 16, 2017, 09:42:31 AM »
It's this bike: http://www.about-bicycles.com/Bike-Reviews/diamondback-wildwood-comfort.html

I was assuming I'd have to put some money into it to at least grease up the gears, but it is a decent bike underneath the rust - just not the exact kind of bike I was looking for. The alternative is paying $300ish for a used bike that's (hopefully) ready to go immediately, which I'm honestly leaning toward at the moment.

I wouldn't spend a dime to fix up that kind of bike, personally.  You'll do more riding and more enjoyable riding on a bike that rides well, is in better shape, and you picked out yourself. 

Tass

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Re: Saving to $10K
« Reply #293 on: August 16, 2017, 10:15:45 AM »
It's this bike: http://www.about-bicycles.com/Bike-Reviews/diamondback-wildwood-comfort.html

I was assuming I'd have to put some money into it to at least grease up the gears, but it is a decent bike underneath the rust - just not the exact kind of bike I was looking for. The alternative is paying $300ish for a used bike that's (hopefully) ready to go immediately, which I'm honestly leaning toward at the moment.

I wouldn't spend a dime to fix up that kind of bike, personally.  You'll do more riding and more enjoyable riding on a bike that rides well, is in better shape, and you picked out yourself.

I picked up a Trek FX 7.0 with basically every feature I wanted (no suspension, trigger shifters, 21 speeds and a correct-sized aluminum frame) for $200 instead. It has a rusty chain and probably needs the gear shift cable tension adjusted, but it's otherwise essentially new. (Except the cobwebs that prove craigslist guy didn't just steal it.) I still can't ride it because I don't have a helmet or a lock, and the lights it came with look like crap, but still!

http://archive.trekbikes.com/us/en/2016/Trek/7_0_fx#/us/en/2016/Trek/7_0_fx/details

Looks like it's bike week here! High five, fluffmuffin.
« Last Edit: August 16, 2017, 10:18:49 AM by Tass »

MSquared

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Re: Saving to $10K
« Reply #294 on: August 16, 2017, 12:44:15 PM »
The Trek FX is a perfect choice for a commuter!  Nice job on the bikes, everyone!  I'm going bike camping this weekend, myself.  :)

fluffmuffin

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Re: Saving to $10K
« Reply #295 on: August 16, 2017, 03:34:42 PM »
I'm officially a bike owner! Tass, we're bike siblings--I got a Trek too. I messed around in the yard a little bit when I got home, but the mosquitos chased me inside.

Tass

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Re: Saving to $10K
« Reply #296 on: August 16, 2017, 07:29:44 PM »
I'm officially a bike owner! Tass, we're bike siblings--I got a Trek too. I messed around in the yard a little bit when I got home, but the mosquitos chased me inside.

Yeah, I rode it around the apartment complex a little (no real roads - again, no helmet or lights!) and was surprised to recall that riding a bike is... fun.

I'm sure I'll feel differently once I start climbing hills on the thing, but it's enjoyable for now!

without_a_map

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Re: Saving to $10K
« Reply #297 on: August 17, 2017, 08:42:11 AM »
Hi all! I'm in, just started saving properly since I got my first job in Dec 2016 after completing my PhD. My progress is looking ok considering my take home salary is about 20,000/year, but really lucky to be living rent free at the moment, so taking this opportunity to stash hard!

Current savings:
ISA: 2400
emergency fund: 4600
Premium bonds: 1000
S&S ISA (index funds): 915

Total: 8915

Not far to go, hoping to cross the line before I turn 30 at the end of Sept, better late than never to get over 5 figures net worth :)

Optimiser

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Re: Saving to $10K
« Reply #298 on: August 17, 2017, 10:56:36 AM »
I'm officially a bike owner! Tass, we're bike siblings--I got a Trek too. I messed around in the yard a little bit when I got home, but the mosquitos chased me inside.

Get ready to live

fluffmuffin

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Re: Saving to $10K
« Reply #299 on: August 17, 2017, 01:04:49 PM »
I'm officially a bike owner! Tass, we're bike siblings--I got a Trek too. I messed around in the yard a little bit when I got home, but the mosquitos chased me inside.

Get ready to live

Seems to be the consensus opinion that my 29 years of non-biking life have been a meaningless wasteland ;) No but really, I'm excited to learn an extremely useful new skill. And MMM gave me the momentum to actually do the thing, instead of just talking about it like I've been doing for the last 10 years!