Author Topic: Saving to $10K  (Read 31401 times)

MrMustache

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Re: Saving to $10K
« Reply #400 on: October 10, 2017, 01:22:16 PM »
Assets:
Cash: 2600
401k: 1280 (stopped contributing since no match to pay off the high interest credit cards and returning 8% on that as of now)

Liabilities:
Credit cards: (4230) (0% until May 2018)

Networth: (350)
Live in a HCOL area though so tomorrow I get to dish out ~2100 for rent, utilities, car insurance. So really about (3000).

I'm planning on throwing 1k each from December to finish paying off the card by April statement since I can take advantage of the 0% and in the meantime putting everything I can in savings which is about ~2k a month.

Made forward progress although due to a trip to the dentist added 300 more to my card since my insurance sucks and already maxed out this year. Will be positive as of 10/13 (paid weekly), and will have the capability of paying off the cc's completely after 11/3. That's when I will start putting 1k down a month to chip away to finish the payments before 0% ends. Target date for 10k - 1/1/18

Assets:
401k:   1295
Cash:   2249


Liabilities:
Credit cards: (4529.03)

NW: (985.03)

fluffmuffin

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Re: Saving to $10K
« Reply #401 on: October 10, 2017, 02:12:12 PM »
Hopping on the band wagon late, but better than never.

October Savings: $453.64
Invested: $225.00
Total: $678.64

Welcome!

CaptJacks

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Re: Saving to $10K
« Reply #402 on: October 12, 2017, 12:10:18 PM »
Hey Mustachians.  I am so glad I stumbled on you guys.  I was hurting bad and I figured "that's it time to take care of this".  Found you and holy crap does it work.
I started out with nothing and behind on everything and figured I would try this.

Turned a negative savings balance around in a month by slashing spending.
Floating at $675 in savings right now.  $10K would be unreal to me.  So I am totally in the challenge.

Tass

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Re: Saving to $10K
« Reply #403 on: October 12, 2017, 01:37:11 PM »
Hey Mustachians.  I am so glad I stumbled on you guys.  I was hurting bad and I figured "that's it time to take care of this".  Found you and holy crap does it work.
I started out with nothing and behind on everything and figured I would try this.

Turned a negative savings balance around in a month by slashing spending.
Floating at $675 in savings right now.  $10K would be unreal to me.  So I am totally in the challenge.

You're well on your way, then! I started out slightly negative and hit zero four separate times before actually sitting down with a spreadsheet and working out my cashflow, and now I'm only a few months shy of 5 digits. You're closer than you think. :)

fluffmuffin

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Re: Saving to $10K
« Reply #404 on: October 13, 2017, 08:28:02 AM »
Hey Mustachians.  I am so glad I stumbled on you guys.  I was hurting bad and I figured "that's it time to take care of this".  Found you and holy crap does it work.
I started out with nothing and behind on everything and figured I would try this.

Turned a negative savings balance around in a month by slashing spending.
Floating at $675 in savings right now.  $10K would be unreal to me.  So I am totally in the challenge.

Welcome, Capt! It's amazing that you've been able to get from negative to $675 in a month. You can do this!

haypug16

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Re: Saving to $10K
« Reply #405 on: October 13, 2017, 09:04:28 AM »
Welcome CaptJacks and nice job!


My mid-month update is awesome! I got my severance pay last week and got some travel reimbursements this week. I don't want to jinx it but I may be able to skip right over the neg $30Ks


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)
9/30/2017 (42,436.10)
10/13/2017 = $(31,355.62) +$11,080.48

$10K of this went right to Credit Card debt. God I can't wait to be done with that. I got another $12K to go. My interest should go way down next month with all these payments I'm making, so that'll help.

According to my budget I should be able to knock out another $1500 with my end of the month check. Then I'll go back to my "normal" $2K a month increase.

I hope everyone else is having a good October.


TheDuder

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Re: Saving to $10K
« Reply #406 on: October 13, 2017, 10:05:07 AM »
Right now I am focused on saving $$ for a down payment for a house, so I will jump in the saving to $10K in liquid monies. Need more than that, but I'll take any victory I can get.

1 Jan 2017 - $4,890.59
13 Oct 2017 - $7,125.00
« Last Edit: October 13, 2017, 10:07:38 AM by TheDuder »

DieHard_772

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Re: Saving to $10K
« Reply #407 on: October 13, 2017, 12:04:50 PM »
Hey Mustachians.  I am so glad I stumbled on you guys.  I was hurting bad and I figured "that's it time to take care of this".  Found you and holy crap does it work.
I started out with nothing and behind on everything and figured I would try this.

Turned a negative savings balance around in a month by slashing spending.
Floating at $675 in savings right now.  $10K would be unreal to me.  So I am totally in the challenge.

That's exactly how I felt!  And somehow, my wife are now closing in on $12,000 on our investments, keep it up, man, you will get there!



DieHard_772

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Re: Saving to $10K
« Reply #408 on: October 13, 2017, 12:11:59 PM »
Hi Everyone, thanks for the positive feedback! 

Die Hard - well done!!  In a way it's both positive and also a shame that you won't be posting as much on this particular topic.  Hopefully all of us will get to catch up in the race to 100k! :D

I'm still around for a little bit ;)
Next goal is for our networth to consistently be over $10,000.  Inching up there.
Meanwhile, getting my personal investments over $10,000.



CaptJacks

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Re: Saving to $10K
« Reply #409 on: October 15, 2017, 10:50:20 AM »
Hey Mustachians.  I am so glad I stumbled on you guys.  I was hurting bad and I figured "that's it time to take care of this".  Found you and holy crap does it work.
I started out with nothing and behind on everything and figured I would try this.

Turned a negative savings balance around in a month by slashing spending.
Floating at $675 in savings right now.  $10K would be unreal to me.  So I am totally in the challenge.

Welcome, Capt! It's amazing that you've been able to get from negative to $675 in a month. You can do this!

Thank you.  Yeah I was so broke and thought "there is no way".  So I just started with $5 a day.  I just tried to see where I could save 5 bucks a day....turns out I was dropping $10 in the morning for breakfast and another $15 for lunch.  All I had to do was brown bag it for a month and boom.  $600+ in savings.

fluffmuffin

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Re: Saving to $10K
« Reply #410 on: October 16, 2017, 06:49:20 AM »
Thank you.  Yeah I was so broke and thought "there is no way".  So I just started with $5 a day.  I just tried to see where I could save 5 bucks a day....turns out I was dropping $10 in the morning for breakfast and another $15 for lunch.  All I had to do was brown bag it for a month and boom.  $600+ in savings.

Yes! Replacing regular meals out with brown bags is one of the easiest ways to save money. Way to be aware of those spending habits, and make a simple change that will pay you dividends down the road :)

Mid-month update:

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
10/2/2017: $3,807.67
10/16/2017: $4,021.00

It's pretty great to see a number over $4,000 on that budget line! I got a lot closer to $300 out of the last paycheck than I thought I would. The sinking fund for my car is lower than I'd like right now, but it's not as if I can't move that $213 back over if something catastrophic happens in the next 15 days. Weirdly, this was one of those magic paychecks where I budgeted out all of my necessities, and then still had what I would consider stupid money sitting in the "to be budgeted" line. Of course it all went straight into various sinking funds--hardly thrilling but it's SO worth it to not have to stress.

Manchester

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Re: Saving to $10K
« Reply #411 on: October 16, 2017, 09:07:25 AM »
Welcome CaptJacks and nice job!


My mid-month update is awesome! I got my severance pay last week and got some travel reimbursements this week. I don't want to jinx it but I may be able to skip right over the neg $30Ks


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)
9/30/2017 (42,436.10)
10/13/2017 = $(31,355.62) +$11,080.48

$10K of this went right to Credit Card debt. God I can't wait to be done with that. I got another $12K to go. My interest should go way down next month with all these payments I'm making, so that'll help.

According to my budget I should be able to knock out another $1500 with my end of the month check. Then I'll go back to my "normal" $2K a month increase.

I hope everyone else is having a good October.

Wow what a month that is!  You're smashing it.

You've added over $20k to your net worth in what, 7 months?  That's more than a lot of people earn in a year!!!

haypug16

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Re: Saving to $10K
« Reply #412 on: October 16, 2017, 12:24:28 PM »

Wow what a month that is!  You're smashing it.

You've added over $20k to your net worth in what, 7 months?  That's more than a lot of people earn in a year!!!

Thanks Manchester, this was a great month! Though the $11K here was due to extenuating circumstances I did set myself up to get that severance pay while working 1 1/2 jobs which didn't happen for most of my other co-workers. Plus the other $9K was all from watching my spending, determination, and the motivation I got from this group. I should "easily" hit my year end goal of ($28K) Next year I am thinking of increasing my monthly goal from $2k to $2.5K I just increased my 401K contribution to 10% (from 4%) Once I get my next paycheck and see how the increase changed my net income I'll see about upping it even more. I hope to be maxing it out by the end of the year.

DieHard_772

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Re: Saving to $10K
« Reply #413 on: October 16, 2017, 01:25:11 PM »
I looked at my Personal Capital on Saturday morning and for the first time ever, my portfolio (including my IRAs and our HSA, not including my wife's SEP-Ira)
was over $10k...

$10,007 to be exact.

Boo yeah

« Last Edit: October 16, 2017, 01:36:14 PM by DieHard_772 »



fluffmuffin

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Re: Saving to $10K
« Reply #414 on: October 16, 2017, 02:22:21 PM »
I looked at my Personal Capital on Saturday morning and for the first time ever, my portfolio (including my IRAs and our HSA, not including my wife's SEP-Ira)
was over $10k...

$10,007 to be exact.

Boo yeah



YAY! Way to go!

Morphy

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Re: Saving to $10K
« Reply #415 on: October 16, 2017, 04:20:26 PM »
Joining the party.

Sept 30, 2017

Assets: $2756.11
Liabilities: $2168.72 (2k of which is a student loan)
Net Worth: $587.39

Oct 16, 2017

Assets: $3378.62
Liabilities: $2270.80
Net Worth: $1107.82

Nothing special to note.

Trifele

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Re: Saving to $10K
« Reply #416 on: October 16, 2017, 05:29:16 PM »

Oct 16, 2017

Assets: $3378.62
Liabilities: $2270.80
Net Worth: $1107.82

Nothing special to note.

I beg to differ Morphy. +$500 in two weeks?  Great job!   
« Last Edit: October 17, 2017, 03:35:08 AM by Trifele »

Manchester

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Re: Saving to $10K
« Reply #417 on: October 17, 2017, 03:14:50 AM »
Joining the party.

Sept 30, 2017

Assets: $2756.11
Liabilities: $2168.72 (2k of which is a student loan)
Net Worth: $587.39

Oct 16, 2017

Assets: $3378.62
Liabilities: $2270.80
Net Worth: $1107.82

Nothing special to note.

Nothing special to note?!  You've nearly doubled your net worth in a couple of weeks... if that's nothing special I'm excited to see what you've got in store for the coming weeks/months.  ;)

SecondBreakfast

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Re: Saving to $10K
« Reply #418 on: October 17, 2017, 05:14:11 AM »
I think I'll get in on this whilst I still can! Discovered MMM around June/July and have reprioritized my life since. Used to spend a lot of money in the pub, now I homebrew. Used to bus to work and eat at the cafeteria, now I walk and bring my own lunch. Used to eat takeaways twice a week, now if I can't be bothered to cook I microwave a potato. I might never be totally FIRE but I'm building that beautiful FU money stash.

Assets:
4143.61 in Vanguard
3132.78 in cash account (equivalent of a couple of months expenses. Inefficient to leave it here but I don't know where else to put it that gets some return but can be drawn on in an emergency.

Liability:
About ~1000 in student loans. Gone by this time next year.

DieHard_772

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Re: Saving to $10K
« Reply #419 on: October 17, 2017, 10:16:25 AM »
I think I'll get in on this whilst I still can! Discovered MMM around June/July and have reprioritized my life since. Used to spend a lot of money in the pub, now I homebrew. Used to bus to work and eat at the cafeteria, now I walk and bring my own lunch. Used to eat takeaways twice a week, now if I can't be bothered to cook I microwave a potato. I might never be totally FIRE but I'm building that beautiful FU money stash.

Assets:
4143.61 in Vanguard
3132.78 in cash account (equivalent of a couple of months expenses. Inefficient to leave it here but I don't know where else to put it that gets some return but can be drawn on in an emergency.

Liability:
About ~1000 in student loans. Gone by this time next year.

Welcome aboard



lemonverbena

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Re: Saving to $10K
« Reply #420 on: October 18, 2017, 08:56:43 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!

Mid-Oct:
SEP IRA: $590
tIRA: $1809
Car loan: $3692
Roof loan: $3578
Emergency fund: $505
Hospital bill: $2024

Total: -$6390

Ah ha ha! Silly me. I thought we had paid off the last of the hospital bills. Nope. Another one rolled in. Always something.

Manchester

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Re: Saving to $10K
« Reply #421 on: October 20, 2017, 02:51:24 AM »
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!

Mid-Oct:
SEP IRA: $590
tIRA: $1809
Car loan: $3692
Roof loan: $3578
Emergency fund: $505
Hospital bill: $2024

Total: -$6390

Ah ha ha! Silly me. I thought we had paid off the last of the hospital bills. Nope. Another one rolled in. Always something.

Keep going mate.  If you hadn't been trying over the past few months your finances would have been significantly worse!  You'll achieve your goal as long as you keep focussed.

Zamboni

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Re: Saving to $10K
« Reply #422 on: October 20, 2017, 03:49:44 PM »
This is a very inspiring thread. Keep up the good work, everyone!

DieHard_772

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Re: Saving to $10K
« Reply #423 on: October 20, 2017, 04:08:56 PM »
This is a very inspiring thread. Keep up the good work, everyone!

Definitely is!



DieHard_772

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Re: Saving to $10K
« Reply #424 on: October 20, 2017, 04:42:52 PM »
My wife and I are starting to kill it on savings and investing...

Our networth has grown by over $23,000 in the past two years!

Not too long ago that was about what I was making per year as a free-lance musician (no kidding).

In fact, in 2011 and 2012 both, I earned less than that (admittedly, this was because in 2011 I only
worked 11 months of the year due to a family trip that was paid for by a relative, and 2012 was my
first year married and living in a brand new area where I was starting my business from scratch).

The other cool thing is that our income didn't change all that much in the last few years...
we just got smarter and more deliberate about our money.

Thanks to everyone on this thread, which has certainly helped keep me motivated and positive
« Last Edit: October 20, 2017, 04:44:42 PM by DieHard_772 »



recklesslysober

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Re: Saving to $10K
« Reply #425 on: October 20, 2017, 06:01:36 PM »
Added almost $7,000 to my net worth this month with my regular salary, a raise, and some back pay.

Sitting at -$72,700 right now.
I'd like to be in the -$60ks next month or really close to it.
End of the year goal is -$64k.
Should hit the big ZERO in 2019 and hopefully be debt free by the end of that year.