Author Topic: Saving to $10K  (Read 37401 times)

Tass

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Re: Saving to $10K
« Reply #300 on: August 17, 2017, 02:06:16 PM »
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 :)

Woohoo, more academics! Congrats on the job.

without_a_map

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Re: Saving to $10K
« Reply #301 on: August 17, 2017, 02:25:33 PM »
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 :)

Woohoo, more academics! Congrats on the job.

Hi! Thank you, feels good to be finally earning, although not technically in academia, I'm working in industry but in partnership with a university.

without_a_map

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Re: Saving to $10K
« Reply #302 on: August 17, 2017, 02:26:26 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!

So impressed you are giving it a go, hope you fall in love with it!

runbikerun

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Idiotic counting errors...
« Reply #303 on: August 23, 2017, 07:00:41 AM »
Miscounted in my last post and added a thousand that didn't exist: my actual balance was in the 4k range rather than the 5k. Deeply embarrassing.

As of payday this month, though, I've hit 4,780, so I'll hit the halfway mark next month barring unexpected problems.

fluffmuffin

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Re: Saving to $10K
« Reply #304 on: August 23, 2017, 08:18:18 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

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!

So impressed you are giving it a go, hope you fall in love with it!

So I can bike now! Not well or confidently, but I CAN BIKE. Brought the bike home Wednesday, figured out gliding on Thursday, and added the pedaling/forward momentum piece on Friday. I like...went for a bike ride on Sunday. It was surreal--I feel like this has been A Thing I Cannot Do for so long. It's going to take a lot more practice before I feel confident enough to bike-commute, but I'm on the way! Thanks for the support and encouragement, yall.

runbikerun, let me tell you about the time last year that I somehow managed to double-count all of my work retirement accounts. I was pumped for about a week before I crashed back down to earth and realized I'd duplicated the lines in excel...it happens. Just think about all of the people out there who have no clue what's in their accounts.

Tass

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Re: Saving to $10K
« Reply #305 on: August 23, 2017, 12:08:20 PM »
I'm all set to overspend this month because I have somehow spent SEVENTY DOLLARS on Lyft/Uber. No facepunches needed, I am delivering them to myself already. $30 of that is due to a friend bailing on picking me up from the airport, and another $20 is due to a terrible but unavoidable coworker dinner that will not be repeated, but the money's gone regardless of the excuse.

I have at least kept my grocery bill under $150 so far, and some of my other expenses this month are one-time moving costs. Goal next month (and the remainder of August) to spend $0 on rideshare apps - an easier task since I'm not planning to fly anywhere.

Congrats on the new skill, fluffmuffin!

without_a_map

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Re: Saving to $10K
« Reply #306 on: August 25, 2017, 06:06:18 AM »

[/quote]

So I can bike now! Not well or confidently, but I CAN BIKE. Brought the bike home Wednesday, figured out gliding on Thursday, and added the pedaling/forward momentum piece on Friday. I like...went for a bike ride on Sunday. It was surreal--I feel like this has been A Thing I Cannot Do for so long. It's going to take a lot more practice before I feel confident enough to bike-commute, but I'm on the way! Thanks for the support and encouragement, yall.

runbikerun, let me tell you about the time last year that I somehow managed to double-count all of my work retirement accounts. I was pumped for about a week before I crashed back down to earth and realized I'd duplicated the lines in excel...it happens. Just think about all of the people out there who have no clue what's in their accounts.
[/quote]

Awesome, quick progress! Well done (biking, not about the duplicated excel lines!), you'll be commuting in no time. Do they do cycle proficiency training anywhere near you? Might be useful to give you confidence in traffic/learn cycling etiquette, they certainly do it for adults as well as children over here, but don't know if they have that sort of thing on your side of the pond.

marielle

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Re: Saving to $10K
« Reply #307 on: August 25, 2017, 06:11:12 AM »
Finally POSITIVE net worth! Coincidentally, I've also been working for exactly a year.

Should stay this way forever provided I don't need a car or something stupid in the next few months!

Trifele

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Re: Saving to $10K
« Reply #308 on: August 25, 2017, 07:09:03 AM »
Congratulations Marielle!  Big milestone!

How is everyone else doing?  Let's finish August strong!

fluffmuffin

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Re: Saving to $10K
« Reply #309 on: August 25, 2017, 10:38:10 AM »
Way to go, Marielle! That's huge!

Imma

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Re: Saving to $10K
« Reply #310 on: August 26, 2017, 07:41:40 AM »
Congrats Fluffmuffin! And well done Mariella! Fingers crossed for no unexpected bills coming up.

I haven't actually ever calculated if I have a positive or negative net worth. I'm just tracking the money in investments / savings accounts in this thread. I think it must be positive, since there's some equity in our home (currently about 15.000 after 2 years, technically only half is mine) and we have little other debt, but as the equity is something we can't touch unless we sell the home or take out a second mortgage, I'd rather track my savings and investment accounts.

cazio

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Re: Saving to $10K
« Reply #311 on: August 26, 2017, 12:20:17 PM »
Joining!

Trying to get my net worth to 10k, but my first milestone will be to have 10k in my EF.

Current Savings:
EF: $6750
IRA: $1,500
Student Loans: -11,600
Net Worth:  $-3,350

I have about $2700 I'm expecting to get in the next few weeks to plug into this - let's go!

Tass

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Re: Saving to $10K
« Reply #312 on: August 27, 2017, 11:53:29 PM »
I tightened my bike's gear shift cable and went out for the first ride today! WHEW, I am not physically prepared for the hills around here, but I'm excited to keep working on it. Unfortunately this means commuting by bike is still a ways off, as my route is hilly and requires sharing the road (sans bike lane) for a bit, so I'm definitely not doing that until I've gained some muscle and confidence. But I'll hopefully be doing grocery runs by muscle power soon.

Speaking of grocery runs, I wondered last week whether I could make it to the end of the month without buying any more food, because I had met my $150 budget early. Just did the meal planning today and determined that it should be possible, so that's my personal little challenge for the week. It's gonna be a little carb-heavy, but mostly potatoes and homemade fresh bread. Planning to run out on the first and buy a bunch of bulk staples cheap to start September right.

August has gotten even worse for me on paper, spending-wise, but that's because I found great deals on holiday flights that I had budgeted into later months. This month's gain will be smaller than expected but my spreadsheet tells me the bigger gains in later months still has me on track for $10k by December!

Congrats on zero, marielle! Looks like cazio will be there soon too!

JanetJackson

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Re: Saving to $10K
« Reply #313 on: August 29, 2017, 08:02:49 AM »
OK UPDATE TIME!  I made a Deal/Challenge with myself for August to say "YES" to any offer to make extra money that A. Fit into my Schedule, and B. Paid enough to be at least reasonable (as in, not crap like driving 40 miles to help a friend clean her garage for $9/hr)... and I'm hoping it'll pay off! 
Not everything I said "Yes" to has paid out yet, but should by the end of the month.... so off we go with an update!

Assets:
Emergency fund + General savings = 5695
Vehicle Emergency Fund = 1184
Pet Emergency Fund = 589
Car Insurance collection (paid from yearly) = 113 (just paid this in July)
Camper/Tiny home Savings = 2360
Consistent Checking Surplus for immediate emergencies = 900
IRA = 22.06
Vanguard = 1100.00

TOTAL: 11,963.06   

Liabilities
Student Loan #1 = 11,000 at 1.9%
Student Loan #2 = 4,200 at 2.3%
TOTAL: 15,200.00


Net worth: -3236.94

*I get paid tomorrow via Job #1, so $200 will go to my E. Savings, and ~$550 will go to checking and then be dispersed after bills come out the 1-5th of the month.... Takes me to ~12,713.06 and Net Worth -2,486.94

I am at about $775 additional via side-hustle only from my "Say Yes" experiment, minus the cost of all of the extra coffee/energy drinks that have been necessary to sustain the experiment, and the extra gas money... (Maybe $25 extra in caffeine and $50 extra gas..?).  Two more dog walks (tomorrow) and one deep cleaning of a kitchen (Thursday) to go for this month... PHEW!

I may try to do this every other, or every third month... it's not sustainable every single month though... but very glad I did it to test my capacity.  I also worked extra hours at Job #2 (about 28 hours @~23/hr tutoring) this month- the majority of which haven't been invoiced yet.... ONWARD AND UPWARD

** I have not yet re-joined a new gym.  While the weather is good I have been taking part in the November Project in my area, taking long walks, going to Derby practices as usual (but with a little extra oomph knowing I am also now using it as "fitness") and weightlifting on my front stoop... I don't love the set up- I love Crossfit, but this'll do for now.

END

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....)
« Last Edit: August 29, 2017, 08:06:49 AM by JanetJackson »

Imma

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Re: Saving to $10K
« Reply #314 on: August 30, 2017, 06:20:56 AM »
I' d like to join!

I get paid montly at the last day of the month, so today was pay day! I earn 1093 / month and did some overtime so I made 1144 this month. Overtime goes straight to the savings account. I also automatically transfer 125 to my investments account every pay day.

Savings:
June 30: 2000
July 31: 2400

Investments:
June 30: 1860,37
July 31:  1985.37

Total:
June 30: 3860.37
July 31:  4385.37

Upcoming bills: 325 in taxes.

Payday today!

Savings:
July 31: 2400
August 30: 2000

Investments:
July 31:  1985.37
August 30: 2095.00

Total:
July 31:  4385.37
August 30: 4095.00

August has been an expensive month for us. I had to pay more than 300 in taxes, I travelled to relatives and friends several times and we did some DIY around the house. And on top of that, I don't think my boss paid me nearly enough money. According to my own calculations, I should have been paid 1380 instead of the 1270 I got (and I work in finance, I'm pretty sure I'm right).

I'll pick up the payslip tomorrow to see what's going on, but this happens way too often. I actually had a serious talk earlier this month about how sick I am of him always delaying payment of overtime, or "forgetting" to pay me or making up bullshit stories. It's a recurring thing. It's not that he disagrees or anything, it's just delaying in the hope I forget or feel too ashamed to ask. Our relationship is volatile but he had promised to pay all the unpaid overtime this time. I already know he's going to make up some bullshit excuse like "ooh, but I thought you only meant the overtime from April, I didn't know you wanted the overtime from July paid out as well?" .

fluffmuffin

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Re: Saving to $10K
« Reply #315 on: August 30, 2017, 08:23:49 AM »
I'll pick up the payslip tomorrow to see what's going on, but this happens way too often. I actually had a serious talk earlier this month about how sick I am of him always delaying payment of overtime, or "forgetting" to pay me or making up bullshit stories. It's a recurring thing. It's not that he disagrees or anything, it's just delaying in the hope I forget or feel too ashamed to ask. Our relationship is volatile but he had promised to pay all the unpaid overtime this time. I already know he's going to make up some bullshit excuse like "ooh, but I thought you only meant the overtime from April, I didn't know you wanted the overtime from July paid out as well?" .

That sounds horrible, Imma. You shouldn't have to deal with that.

cazio

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Re: Saving to $10K
« Reply #316 on: August 30, 2017, 09:36:49 AM »
Sunk another $1936 into the EF today!

Current Savings:
EF: $8,680
IRA: $1,500
Student Loans: $-11,600
Net Worth:  $-1,420

Trying to get my net worth to 10k, but my first milestone will be to have 10k in my EF.

Current Savings:
EF: $6750
IRA: $1,500
Student Loans: -11,600
Net Worth:  $-3,350

Imma

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Re: Saving to $10K
« Reply #317 on: August 30, 2017, 09:43:04 AM »
I'll pick up the payslip tomorrow to see what's going on, but this happens way too often. I actually had a serious talk earlier this month about how sick I am of him always delaying payment of overtime, or "forgetting" to pay me or making up bullshit stories. It's a recurring thing. It's not that he disagrees or anything, it's just delaying in the hope I forget or feel too ashamed to ask. Our relationship is volatile but he had promised to pay all the unpaid overtime this time. I already know he's going to make up some bullshit excuse like "ooh, but I thought you only meant the overtime from April, I didn't know you wanted the overtime from July paid out as well?" .

That sounds horrible, Imma. You shouldn't have to deal with that.

 - removed for privacy reasons -
« Last Edit: September 04, 2017, 10:08:28 AM by Imma »

without_a_map

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Re: Saving to $10K
« Reply #318 on: August 30, 2017, 02:21:35 PM »
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 :)

Today is an exciting day!

Current savings:
ISA: 2600
emergency fund: 5820
Premium bonds: 1000
S&S ISA (index funds): 925

Total: 10,345

Woohoo! For the first time in my life i have a 5 figure net worth, and just before I hit 30 at the end of month. Also, I got a small but unexpected pay rise of about 1% which means 60 extra take home per month, and found out I'm getting some unexpected inheritance! Also had quite a low spending month, so all round good stuff, rather pleased with myself (very humble haha!) :)

I think I've got enough of a cash buffer now so I'm going to start putting more into index funds, and need to have a hunt around for a high interest cash savings account.

Well done everyone else this month!

Imma

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Re: Saving to $10K
« Reply #319 on: August 30, 2017, 03:19:18 PM »
Congratulations, without_a_map! Two big milestones at the same time.

MSquared

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Re: Saving to $10K
« Reply #320 on: August 31, 2017, 07:16:06 AM »
Big congrats to Marielle and without_a_map!!  Two huge accomplishments!

August did not go as planned for me.  My phone finally died, my 12 year old dog needed to have expensive tests and X-rays done at the vet, and I loaned my boyfriend a chunk of change.  So even with my extra paycheck this month, my net worth didn't really go anywhere.  Sigh.  I'm not too upset through, because I was able to comfortably afford to do all those things without it being a catastrophe.  So I'm happy for that!

End of August update:

Emergency fund: $3920
401k: $2155
TOTAL: $6075

martyconlonontherun

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Re: Saving to $10K
« Reply #321 on: August 31, 2017, 09:19:12 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 eyes.

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

NW April 2016: ($34K)
July 2016: ($28.4k)
October 2016: ($22.6k)
January 2017: ($20.8k) (Refinanced loan and intransit payments not reflected)
April 2017: ($10.9k)
July 2017: ($5.7k)
August 2017: ($2.5k)

Stretch goal is to be $10k by 30 (Early January).
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.
Current September 2017:(~$1.7k) - Retirement accounts up to ~$30k. This is a very conservative NW without any joint accounts. I should have a couple g boost next month due to my salary change getting screwed up by HR and the company owing me back pay.

Looks like I'm averaging $6k a quarter but want to boast that to $10k a quarter in CY18 once I get a higher salary, cut back on spending, and have a higher investment portfolios for compounding gains.

cazio

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Re: Saving to $10K
« Reply #322 on: August 31, 2017, 10:55:23 AM »
Big congrats to Marielle and without_a_map!!  Two huge accomplishments!

August did not go as planned for me.  My phone finally died, my 12 year old dog needed to have expensive tests and X-rays done at the vet, and I loaned my boyfriend a chunk of change.  So even with my extra paycheck this month, my net worth didn't really go anywhere.  Sigh.  I'm not too upset through, because I was able to comfortably afford to do all those things without it being a catastrophe.  So I'm happy for that!


I'm in your boat! My phone just kicked the bucket last week and I had to shell out a lot for a new one, which knocked me off track by 6% for my EF goal. But I was definitely thankful to have what I did in my EF so it wasn't a catastrophe, like you said! It's a nice feeling, even if it takes a bite too.

Tass

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Re: Saving to $10K
« Reply #323 on: August 31, 2017, 08:50:22 PM »
July:

Emergency fund: $5,000.00
Roth IRA: 3267.05
Misc. cash: $562.51

"Student" debt: (2647.11)

Net worth: $6182.45

August:

Emergency fund: $5,004.29
Roth IRA: 3414.96
Misc. cash: $865.27

"Student" debt: (2397.11)

Net worth: $6888.41
Change: +$705.96

Do any of you guys use Mint's carry-a-balance feature in your budgets, or something like it? My thinking was I could save up for a restaurant splurge, etc, but the result is I end up accumulating budget debt... Can't decide if that's just good motivation not to go over or if I ought to give myself a little more breathing room.

Congrats on graduating, without_a_map!
« Last Edit: September 01, 2017, 03:21:52 PM by Tass »

Trifele

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Re: Saving to $10K
« Reply #324 on: September 01, 2017, 04:20:08 AM »

Today is an exciting day!

Current savings:
ISA: 2600
emergency fund: 5820
Premium bonds: 1000
S&S ISA (index funds): 925

Total: 10,345

Woohoo! For the first time in my life i have a 5 figure net worth, and just before I hit 30 at the end of month.


Congrats and well done WithoutAMap!!  Come on up to the next thread [extends hand] -- lots of nice folks on that journey. 

Jim Fiction

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Re: Saving to $10K
« Reply #325 on: September 01, 2017, 05:11:23 AM »
Some really inspiring stuff in this thread! Might as well join in the fun myself.

Looking to get my net worth to 10K by the end of the year. The items below include only my accounts and does not include my wife's (she's in a lot better shape financially than I am.)

Current:

Bank Accounts: $6,186
HSA: $3,956
Roth 401K: $16,146
TOTAL ASSETS: $26,288

Student Loans: $(23,427)
Credit Cards: $(92)
TOTAL DEBT: $(23,519)

NET WORTH: $2,769

I started 2017 at $(8,578) so it has been a nice turnaround, overall. I haven't been as mustachian as I would have liked, and there were some pricey car repairs and some unexpected health expenses, but I am still happy with my progress.

All August bills are paid so I thought it would be a good time to provide an update. As of 8/31 my net worth is $ 4,964. That was a month-to-month change of $2,195, if I really put in the effort I think I can hit  $10K by the end of October. I already got rid of a few subscription services which saves me $20 a month so that's a start!

fluffmuffin

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Re: Saving to $10K
« Reply #326 on: September 01, 2017, 11:23:33 AM »
Way to go, everyone! Sounds like some great progress is happening!

7/13/2017: $2,238.41
8/1/2017: $2,771.40
8/16/2017: $3,071.40
9/1/2017: $3,202.61

I semi-impulse-booked a vacation with my mom in March. By "semi-impulse" I mean, it's something I'd wanted to do for a long time but hadn't started saving for specifically, but then I saw a really awesome flight deal and hopped on it. So I couldn't hit my house goal for paycheck #1 in September, although I'll be putting extra money in from paycheck #2 to make up for it. Facepunch away (except that I have no regrets and am super-excited, so I don't actually care if you facepunch me).

What I'm actually angry with myself about is forgetting to cancel Hulu. I'd signed up for the free month, put up a calendar reminder to cancel it before I got charged, and then work got super-busy on Monday and I just completely forgot. I'm not usually sloppy about stuff like that.

Imma

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Re: Saving to $10K
« Reply #327 on: September 01, 2017, 02:04:12 PM »
Not facepunch-worthy, Fluffmuffin! One good thing about being frugal is being able to afford the things that really matter and spending time with family is definitely one (assuming you're not staying in the most fancy place in town, that's always facepunch-worthy) .

I could save more if I didn't make frequent trips to go see my grandma who's 84, and to friends around the country, but as long as I've got a roof over my head, those trips are a financial priority.

fluffmuffin

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Re: Saving to $10K
« Reply #328 on: September 01, 2017, 02:25:03 PM »
Definitely not staying in the fanciest spot possible...we've got a nice AirBnB, but nothing overly plush. I just love traveling and will give up a lot of things to make it a priority!

Tass

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Re: Saving to $10K
« Reply #329 on: September 03, 2017, 12:03:37 AM »
I did my first bike trip to the grocery store today! I had to take one little break in the middle, but mostly my success was facilitated by discovering it's almost the same distance to go around the giant hill between us as it is to go over it. Oops. I got a few extra workouts earlier this week.

Slanhirn

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Re: Saving to $10K
« Reply #330 on: September 03, 2017, 09:01:00 AM »
July 2017 - (2,877)
August 2017 - (1,852)  = +1,025
September 2017 - (650) = +1,202
Assets = 15,241
Debts = (15,891) -> student loans

Very close to my 0 net worth goal, I've missed my goal of meeting it by the 1st September but will definitely be hitting it by the 1st October! I'm pretty excited at being so close (I'll have to think up a frugal celebration this month)!

Looks like everyone's making good progress here and congrats Tass on the bike ride :).

haypug16

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Re: Saving to $10K
« Reply #331 on: September 06, 2017, 08:26:26 AM »
3/31/2017 (52,848.85)
4/30/2017 (48,076.67)
5/31/2017 (47,110.22)
6/30/2017 (46,540.28)
7/31/2017 (44,354.10)
8/31/2017 (47,236.39) -2,882.29
6 month average Net Worth increase = $935.41


August was going so well then my cat ended up with a really bad infection and had to be admitted to the Vet Hospital while I was away on my Honeymoon, $4K later and she is doing better but that was a big set back. My husband is going to split the cost with me so I should bounce back "fairly" soon.

Bella78

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Re: Saving to $10K
« Reply #332 on: September 06, 2017, 09:40:20 AM »
Unfortunately, August was not the best month for me.  While the numbers all went in the right direction, it wasn't as good as I was expecting.  Hopefully September will be better.

July 1/2017 = (30391.30)
August 1/2017 = (29732.73)
September 1/2017 = (29,296.35) + $436.38



fluffmuffin

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Re: Saving to $10K
« Reply #333 on: September 15, 2017, 06:40:40 AM »
7/13/2017: $2,238.41
8/1/2017: $2,771.40
8/16/2017: $3,071.40
9/1/2017: $3,202.61
9/15/2017: $3,502.63

I still owe the house fund $173.32, dangit. I know I said I'd get it from this paycheck but I just couldn't quite manage it, after budgeting the last $500 I needed for the AirBnb. This is outside the parameters of this gauntlet thread, but I also just started contributions to a new traditional IRA. Since I started my current job, I haven't saved anything extra for retirement above what I have through my work plan, and that really needs to change.

Sad to report that I feel like I'm not making progress towards the bike-commute, either. I'm training for a half marathon in November and I just don't have the time or energy right now to put in a lot of practice time on the bike. I'm in good shape and I'm a LOT better at running than biking, so I've never actually managed to bike fast enough or long enough that it's become physically challenging. I try to get out on the bike once or twice a week, but I just can't realistically sub biking for running if I want to hit my goal time for the race. And I don't like doubling up with two forms of leg-based cardio, even though biking barely counts as that for me. Sigh.

How's everyone else doing?

Imma

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Re: Saving to $10K
« Reply #334 on: September 15, 2017, 12:22:00 PM »
Well, you're still making progress Fluffmuffin! Some months are better than others. If you're training for a serious distance, I wouldn't want to mess that up by taking up cycling as well. Cycling can wait for a few months. And who knows, next year you might be training for a duathlon.

I only get paid once a month so I don't officially know yet how I'm doing this month, but I can tell you already this is another spendy month. We have a belated summer vacation right now and we're spending that doing much needed home renovations. It's mostly DIY and cheap stuff, but you always end up buying more materials and tools than expected and we'll be renting a van next week to take a lot of trash to the dump (we don't own a car). We're doing that on the cheap though; a friend of ours is moving and we're renting the van together so we can share costs.

recklesslysober

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Re: Saving to $10K
« Reply #335 on: September 15, 2017, 12:32:16 PM »
The last few months:

-$83,800 July
-$81,600 August
-$79,300 September

+$50K net worth in the past 21 months, and student loan is down to $99,700 today (started at $130,400)! Ready to crush the rest over the next few years and be done with it once and for all in 2020!

DieHard_772

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Re: Saving to $10K
« Reply #336 on: September 15, 2017, 12:37:42 PM »

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!

Things are improving, and I'm looking forward to even more progress...


tax money: $0 (-930)
Money in Bank Accts and Savings for spending : $1811  (-$119)
Our Savings:  $2233  (+$30)
My IRAs:  $7890  (+$267)
HSA: $1712   (+$253)
Wife IRA:   $1633  (+$307)


TOTAL ASSETS: $15279  (-$376)*

Current Liabilities
Credit card: $3075  (-$105)
Student loan: $4418 (-$36)


TOTAL LIABILITIES: $7493  (-$141)


CURRENT NETWORTH:  $7785*

OVERALL:
Current assets and networth dropped because of normal expenses.  A lot of that was paying estimated taxes.
That not withstanding, and despite me putting away less than usual, our investments grew by $827, which surprised me... I'm sure the market helped there.  Also, our investments surpasses $11,000 for the first time ever.

Anyway, I'm grateful to see the growth.  Onward and upward...



MSquared

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Re: Saving to $10K
« Reply #337 on: September 15, 2017, 01:34:19 PM »
Fluffmuffin - I totally understand.  I'm also a runner and it's very hard to find a balance between running and biking, especially if you're training for a race.  How far would your commute be?

I got some bad news from the dentist.  I have to get an implant to the tune of $4K.  Sigh.  Around $2K next month to get the tooth extracted, and then another $2K 3 months later to get the new tooth.  Looks like I'll be hanging around this thread a while longer than I expected.  Such is life.  I guess that's why I have an e-fund, but FFS, I'm really tired of it going up and then right back down!

marielle

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Re: Saving to $10K
« Reply #338 on: September 15, 2017, 01:59:18 PM »
Fluffmuffin - I totally understand.  I'm also a runner and it's very hard to find a balance between running and biking, especially if you're training for a race.  How far would your commute be?

I got some bad news from the dentist.  I have to get an implant to the tune of $4K.  Sigh.  Around $2K next month to get the tooth extracted, and then another $2K 3 months later to get the new tooth.  Looks like I'll be hanging around this thread a while longer than I expected.  Such is life.  I guess that's why I have an e-fund, but FFS, I'm really tired of it going up and then right back down!

Wait, $2k to extract a tooth? If you're getting an implant then no root canal, crown, nothing. Shouldn't it be like $150 to extract a tooth?

Imma

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Re: Saving to $10K
« Reply #339 on: September 15, 2017, 02:06:16 PM »
$2000 to get a tooth extracted? That sounds almost like extortion :o When it comes to health care, I understand finding the best provider is most important, but in this case I would try to shop around a bit.

MSquared

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Re: Saving to $10K
« Reply #340 on: September 15, 2017, 02:51:41 PM »
That's what the dentist told me the other day.  For some reason a tooth extraction isn't covered by my medical OR dental insurance, I don't think?  (I have both.)  Anyway, they need to prep for the implant to go in too - not entirely sure what's involved with that.  From the little I've read, $4K seems about average in the US.  Ugh. 

Imma

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Re: Saving to $10K
« Reply #341 on: September 15, 2017, 03:54:19 PM »
I would still check it out, just to be sure. I'm in Europe, so the circumstances are different, but without any dental insurance I'd still expect to pay somewhere around 100-150 depending on how complicated the extraction would be and how many shots of anesthetic you need. I think having all your teeth extracted would cost you less than $2000, I mean, we are talking about half an hour's work. $2000 just seems insane. Implants are expensive, but extracting teeth is about the cheapest procedure you can get at the dentist.

 

Tass

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Re: Saving to $10K
« Reply #342 on: September 15, 2017, 05:39:19 PM »
I'm in Europe, so the circumstances are different

That really doesn't begin to cover the mess that is American healthcare. Alas.

Hargrove

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Re: Saving to $10K
« Reply #343 on: September 15, 2017, 05:59:59 PM »
Yep, in the US, most dental insurance is a coupon against 1k-1.5k in dental expenses. It's actually not difficult to pay more in premiums for family dental than it saves you even when using the entire value of the policy. I had a cavity that would not, for sure, be fixed by a crown. I managed to get an up-front estimate, which is actually not easy to do, of about 3.5k if the tooth didn't crumble and took a crown, and 5-6k if the tooth did crumble (for a root canal). Luckily, it took the crown, and I was out about 2.5k out-of-pocket.

Sorry, just visiting! I like to read about new recruits making it work. The stress relief when I first had 5k aside and some cashflow, and I realized an emergency was a speed bump instead of a disaster prompt... that was amazing. Keep it up!

Trifele

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Re: Saving to $10K
« Reply #344 on: September 16, 2017, 04:14:56 AM »
The last few months:

-$83,800 July
-$81,600 August
-$79,300 September

+$50K net worth in the past 21 months, and student loan is down to $99,700 today (started at $130,400)! Ready to crush the rest over the next few years and be done with it once and for all in 2020!

You rock, RecklesslySober!   Way to keep it up!  Congrats on passing the milestone. 

haypug16

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Re: Saving to $10K
« Reply #345 on: September 18, 2017, 06:28:35 AM »
3/31/2017 (52,848.85)
4/30/2017 (48,076.67)
5/31/2017 (47,110.22)
6/30/2017 (46,540.28)
7/31/2017 (44,354.10)
8/31/2017 (47,236.39) -2,882.29
6 month average Net Worth increase = $935.41


August was going so well then my cat ended up with a really bad infection and had to be admitted to the Vet Hospital while I was away on my Honeymoon, $4K later and she is doing better but that was a big set back. My husband is going to split the cost with me so I should bounce back "fairly" soon.

The good news is my Net-worth is back around the July number (44,684.34), though my CC is still higher than it was then (by about $1,200), I get paid Friday and will be able to pay that off, as well as a little more. I'm really pleased with the fact that I was able to recover so quickly. I think I will end up not having to pay any additional interest on my CCs due to that $4K vet bill. I realize I could have had even less interest had I not had this vet bill, so it's only a small comfort.

The first week of October I get my Severance "Bonus" which will be 2 months of pay, plus I'll get my one week in arrears, and about 1 week of Vacation time paid out. This will take care of nearly all my CC debt!!! I'm so excited. I'll be down to 1 CC to pay off and that should hopefully be taken care of by mid-2018, then I get to focus on my $60K in Student Loans. Yay?

lemonverbena

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Re: Saving to $10K
« Reply #346 on: September 20, 2017, 08:28:54 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!

Mid-Sep:
SEP IRA: $581
tIRA: $1777
Car loan: $3931
Roof loan: $3649
Emergency fund: $0

Total: -$5,222

My number is basically the same as before, but life happened and now I need to replenish the emergency fund after a trip my spouse took to urgent care turned into an ambulance ride to the ER and a three day stay in the hospital. He now has an incurable autoimmune disease that will require lots of pharmaceuticals for the rest of his life. It has been an adjustment, for sure. So thankful he has good health insurance and we were able to deal with this with our meager emergency fund, but we also really wish we would have signed up for life insurance while he was still healthy!

runbikerun

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Re: Saving to $10K
« Reply #347 on: September 25, 2017, 01:20:21 AM »
As of today, I have 5,299.66 in my emergency fund. Halfway point has been cleared, and I'm almost exactly nine months from the 10k mark based on my current trajectory. Looking forward to arranging a meeting with my pension administrator next July to ramp up my contributions.

Manchester

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Re: Saving to $10K
« Reply #348 on: September 27, 2017, 03:59:29 AM »
Hi Everyone, this is my first post, so be kind!

I'm an overseas MMM reader from the UK.  I've been obsessed with the idea of being financially independent for years now, however some bad decisions have probably put retirement a good 10-15 years off.  I'm 24 years old, I live with my girlfriend of 7 years.  I have roughly 50k equity in my house as well as a 180k mortgage (28/30 years to go) - however I have no current means of creating an income through the equity in this property so will not count it towards my goal below.  I'm happy with the debt, currently I pay 3.04% interest (which will be renegotiated and reduced in February) and the housing market where I live is very strong so I shouldn't have any issues recouping my money should I ever decide to sell.  My sister got married on the 5th of this month, and that included a week long trip to Vegas, which went over budget, and now I'm back home in England thinking about how many face punches I deserve.  (I still can't understand how it's considered normal to pay $20 for a cocktail by the pool!!!!).

Hopefully I'm on the right track now - I had a company car, but here in England we pay benefits in kind tax on any fringe benefits your receive from work.  I've got rid of that, taken a car allowance and gone for a less glamourous car which all in will save me a few hundred a month (the last car was very expensive - more face punches are required). I've also been scrimping and saving on shopping, prepping meals so I don't buy overpriced lunches/dinners etc. 

I officially threw down the gauntlet on the 22nd, so I'll start from there.  I want my net worth (not including my house) to reach 10k ASAP - I've set a mini target of getting it up to 3k by the 22nd of Feb 2018.

22/09/2017: 
Current account - 927.07
Emergency fund - 1.58
Investments - 0
Credit Card debt - -1,288.72
Payments Due this month - -1022

Total - -1,382.07

Today was payday so I'm planning to smash the cc debt first, and then start filling up the EF and Investments later.

There are a couple of you on here who's positivity and encouragement for other posters has really encouraged me to stop thinking about 'going for it' and to just do it!  Thanks!


without_a_map

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Re: Saving to $10K
« Reply #349 on: September 27, 2017, 07:31:30 AM »
Hi Everyone, this is my first post, so be kind!

I'm an overseas MMM reader from the UK.  I've been obsessed with the idea of being financially independent for years now, however some bad decisions have probably put retirement a good 10-15 years off.  I'm 24 years old, I live with my girlfriend of 7 years.  I have roughly 50k equity in my house as well as a 180k mortgage (28/30 years to go) - however I have no current means of creating an income through the equity in this property so will not count it towards my goal below.  I'm happy with the debt, currently I pay 3.04% interest (which will be renegotiated and reduced in February) and the housing market where I live is very strong so I shouldn't have any issues recouping my money should I ever decide to sell.  My sister got married on the 5th of this month, and that included a week long trip to Vegas, which went over budget, and now I'm back home in England thinking about how many face punches I deserve.  (I still can't understand how it's considered normal to pay $20 for a cocktail by the pool!!!!).

Hopefully I'm on the right track now - I had a company car, but here in England we pay benefits in kind tax on any fringe benefits your receive from work.  I've got rid of that, taken a car allowance and gone for a less glamourous car which all in will save me a few hundred a month (the last car was very expensive - more face punches are required). I've also been scrimping and saving on shopping, prepping meals so I don't buy overpriced lunches/dinners etc. 

I officially threw down the gauntlet on the 22nd, so I'll start from there.  I want my net worth (not including my house) to reach 10k ASAP - I've set a mini target of getting it up to 3k by the 22nd of Feb 2018.

22/09/2017: 
Current account - 927.07
Emergency fund - 1.58
Investments - 0
Credit Card debt - -1,288.72
Payments Due this month - -1022

Total - -1,382.07

Today was payday so I'm planning to smash the cc debt first, and then start filling up the EF and Investments later.

There are a couple of you on here who's positivity and encouragement for other posters has really encouraged me to stop thinking about 'going for it' and to just do it!  Thanks!

Hi there! I'm in the UK too :)

You are way ahead of me as I am nowhere near getting on the housing ladder! Keep up the good work, get that CC debt killed off ASAP if it isn't 0% interest!