Author Topic: Saving to $10K  (Read 57440 times)

dj

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Re: Saving to $10K
« Reply #650 on: February 01, 2018, 08:17:27 AM »
First time to the thread!!

I'm 26 and ready to get down to business for the next few years to kill as much debt as I can while building up savings.
Little bit of a slow start since I didn't understand much about money management right out of college and I took an adventure for 10 months out to Oregon on low hourly pay.

- Currently -
Cash: 991.36
Savings: 716.12
Credit card balance: -487.78
Car loan: -6320.24 (2.64%)
Student loan: -23,849 ($6,523 of this is at a 6.8% interest rate)

Approx $1300 in an old 401k that has been transferred to a holding trust company until I move it. I plan on starting an IRA with that.

I'm putting $250 towards this next months credit card payment, and hope to be putting away $500 to my savings for an emergency fund. Or should I just ditch the savings and pay off my credit card?

Let me know if you have some tips. Good luck everyone!

Welcome to the forum!  Feel free to ask questions in here, I've found everyone is positive and friendly!

Zeli's advice is right IMO.  The order of investments is important, but a lot depends on your personal circumstances and your risk tolerance.  Depending on your job safety, accomodation arrangements and so on, you may need an emergency fund in place.  If you were to say you have 3 children, a mortgage and an unstable job, an emergency fund is vital, if you're living in your childhood home, rent free with no bills, then you obviously don't need as much.

If you're being charged over 10% interest on your CC, I would treat this as an emergency and attempt to pay that off immediately, dipping into your savings account if you need to.  Seriously, treat it as if your hair is on fire!!  Meals out/take aways, nights out, short breaks, any treats what so ever - forget it until it's extinguished!  Work over time if you can.  I know it's 'only a few hundred $'s' but that's the type of mind set that got me out of CC debt.  It's incredibly demoralising to work hard and earn more money one month, to find it'll only service your CC interest and you'll be in a similar boat next month etc.   

The interest you're saving on that will help you boost a reasonable emergency fund. and then I'd tackle the 6% student loan with equal vigour.

Thanks! I move out of my place with 3 other roommates in July. Only $375 rent, but if I got that new position, I would be a 5 minute walk from work. Once I move out, if I wanted to live at home for free, I'm 40 minutes away from work having to drive every day....
May be worth it to do as much research as I can to find a cheap living situation close to work.

Imma

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Re: Saving to $10K
« Reply #651 on: February 01, 2018, 01:08:16 PM »
Savings:
July 31:                 €2400
August 30:            €2000
September 27:       €1300
October 30:           €1400
November 30:        €1600
December 29:        €1100
February 1:            €1100


Investments:
July 31:                 €1985.37
August 30:             €2095.00
September 27:       €2253
October 30:           €2461
November 30:        €2622.06
December 29:        €2661.50 (didn't do the monthly transfer yet)
February 1:            €3021,56

Total:
July 31:                 €4385.37
August 30:             €4095.00
September 27:       €3553
October 30:           €3861
November 30:        €4222.06
December 29:        €3761,50 (+ 740 unpaid salary = 4501.50 )
February 1:            €4121,60


Goals for 31 December 2018:

Savings:            €3000
Investments:     €4500
Total:                €7500

I'm actually really surprised to add this all up and see my savings are the same as last month and my total still starts with a 4! We've had a really expensive month. We had storm damage that is not covered by insurance, my bike was stolen and needed to be replaced, we also pay local taxes in January. Luckily February is a short month, I'll be able to work quite a bit of overtime, we are selling a few things from around the house on the internet, and we're trying to cut back on groceries as much as possible this month. Winter is always the season when we have the lowest amount of savings: we get an extra month's wages in May and in early summer we get our tax return. We always seem to have extra costs in autumn and winter.

fluffmuffin

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Re: Saving to $10K
« Reply #652 on: February 02, 2018, 10:52:35 AM »
Welcome to the new folks!

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
11/1/2017: $4,121.00
11/16/2017: $4,208.73
12/1/2017: $4,267.73
12/15/2017: $4,532.82
12/30/2017: $4,864.78
1/16/2018: $8,114.78
2/2/2018: $8,424.59

Normal pay cycle, nothing much to report. My savings account is big enough at this point that I'm up to $10 per month in interest. I'm chucking that into the house fund, so I'm excited to add an extra $120/year with zero effort on my part :) Work, little green men, work!

onthedollar

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Re: Saving to $10K
« Reply #653 on: February 03, 2018, 04:05:56 AM »
Hi, first-time poster here! :D

22, and hoping to build up my emergency funds quickly, before I start investing. So all my money's going into that now ^^

Cash (excluding holiday fund, government-mandated savings fund)
30/09/2017: $3,138.00
31/10/2017: $4,487.94
30/11/2017: $5,535.45
31/12/2017: $6,538.69
31/01/2018: $7,691.66

Investments
31/01/2018: $0.00

zeli2033

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Re: Saving to $10K
« Reply #654 on: February 03, 2018, 06:58:53 AM »
Welcome, onthedollar! You got here early in life, which is super commendable! Looks like you're on a great path.

TexasRunner

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Re: Saving to $10K
« Reply #655 on: February 03, 2018, 07:38:16 AM »
22, and hoping to build up my emergency funds quickly, before I start investing. So all my money's going into that now ^^

Good job!  even earlier than me.

What length of E-Fund are you shooting for?  Alos note, e-funds can generate some interest, usually about 1.0%-1.5%.  Something to consider.  Ask around or look upthread for some e-fund recommendations.
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onthedollar

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Re: Saving to $10K
« Reply #656 on: February 03, 2018, 09:09:46 AM »
Welcome, onthedollar! You got here early in life, which is super commendable! Looks like you're on a great path.

Thank you!! I certainly hope so. Gotta keep reminding myself that it's a marathon, not a race ~

Good job!  even earlier than me.

What length of E-Fund are you shooting for?  Alos note, e-funds can generate some interest, usually about 1.0%-1.5%.  Something to consider.  Ask around or look upthread for some e-fund recommendations.

Thank you! (: I'm thinking about 10k. I want to play it safe, and to be able to help with any family issues if needed as well. Gotcha! My bank account's interest rate is currently 1.85% p.a., which is one of the highest available from some of the sourcing I did. Going to keep an eye out for any others, though!

vseddie

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Re: Saving to $10K
« Reply #657 on: February 05, 2018, 02:05:17 AM »
Started again at the beggining of the year to build a 10k emergency fund. Worked some crazy overtime and had some money owed to me paid back :)

Jan 1st $0
Jan 31st $2628

Moonwaves

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Re: Saving to $10K
« Reply #658 on: February 06, 2018, 01:21:34 AM »
Yikes. I'm glad I have the sensible advice here to fall back on because honestly, the market going down the last few days is kind of scary. My ETF investment (have invested 50/month for 10 months now, so 500 less fees) was up to almost 525 the other day and is down to 468 today. I'm trying to just look on the bright side and enjoy the fact that my next 50 will buy more units than that much did last month. In the meantime, I've finally gotten most of the money from outstanding invoices so I'm off to transfer that to various different pots now.


Manchester

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Re: Saving to $10K
« Reply #659 on: February 06, 2018, 03:19:33 AM »
Good to see there's some new recruits on here, you're all welcome and I hope you're all 'done' on this thread nice and quickly.


Having seen the news about the stock market taking a hit last night, it'll be interesting to see how that affects people here.  Hopefully we don't get any relegatees dropping down from the race to 100k thread.

Tass

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Re: Saving to $10K
« Reply #660 on: February 06, 2018, 10:17:58 AM »
Yikes. I'm glad I have the sensible advice here to fall back on because honestly, the market going down the last few days is kind of scary. My ETF investment (have invested 50/month for 10 months now, so 500 less fees) was up to almost 525 the other day and is down to 468 today. I'm trying to just look on the bright side and enjoy the fact that my next 50 will buy more units than that much did last month. In the meantime, I've finally gotten most of the money from outstanding invoices so I'm off to transfer that to various different pots now.

Good stuff to remember! I just remind myself I'm nowhere near retirement and the balance doesn't matter until I get there. The market has a long time to recover your $32 and to produce more on top of it. :)

mountain mustache

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Re: Saving to $10K
« Reply #661 on: February 06, 2018, 07:56:47 PM »
My savings rate will be a big fat 0% this month. It's one of those months when everything goes wrong, and there's a dental bill and two medical bills, all of which were unplanned. It can be so frustrating sometimes when you make a lower income to have little emergencies happen that just erase any plans you had for saving.
I know it will get better, just one of those months!

TexasRunner

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Re: Saving to $10K
« Reply #662 on: February 06, 2018, 08:00:12 PM »
My savings rate will be a big fat 0% this month. It's one of those months when everything goes wrong, and there's a dental bill and two medical bills, all of which were unplanned. It can be so frustrating sometimes when you make a lower income to have little emergencies happen that just erase any plans you had for saving.
I know it will get better, just one of those months!

Yah, but you didn't go into debt (or worsen a debt spiral) for it.

Which is WAY better than about ~85% of the American population.

Kudos to you for surviving life!  (Really, not being sarcastic :)  )
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Spruit

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Re: Saving to $10K
« Reply #663 on: February 07, 2018, 02:44:24 AM »
Mountain mustachian, I've been there... maybe a tip for way, way later: build up a seperate stash earmarked for health. In my experience it feels way less painful to inevitably use this, because you've already written it off from "real" savings and you'll keep seeing those grow anyway. Less demotivating for me that way.
But I have to add: we have a different system here and see way less collosal bills for health accidents.
Yay, out of debt... now, GROW!
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Moonwaves

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Re: Saving to $10K
« Reply #664 on: February 07, 2018, 02:48:33 AM »
BoI savings a/c: 54.00
DiBa ETF: 514.76
CmzBank savings a/c: 500.01 (1c interest earned. Yay? :) )
Total:  1,068.77

BoI savings a/c: 60.00
DiBa ETF: 487.37
CmzBank savings a/c: 600.00
Total:  1,147.37

And I've also got €1,100 sitting in my annual expenses accounts (50 of that will go to my ETF savings next week). That's a big relief somehow. Now to keep it going. I had a more spendy than planned long weekend in Ireland but partly that is just expectations not matching reality. They never do and yet every time I manage to convince myself that it's not really as expensive there I as think it is. If I'm going to spend a week there in July, I really need to make sure to save a lot more for it first. Hopefully will get holidays sorted out with colleagues soon so that I know when I'll be off and can start looking for good bargains on flights and car rental. My sister is pregnant and due in March so I'll probably try and fly over around easter for a few days, too. It will slow savings down but so long as I'm not going into debt, I'm choosing to prioritise family a bit this year and that's ok.

haypug16

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Re: Saving to $10K
« Reply #665 on: February 09, 2018, 09:51:36 AM »
my accounts are not liking the market dip. :( Hoping my income will outweigh the losses. So far I'm down $1,600 from the end of Jan.

Tass

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Re: Saving to $10K
« Reply #666 on: February 09, 2018, 11:34:51 AM »
my accounts are not liking the market dip. :( Hoping my income will outweigh the losses. So far I'm down $1,600 from the end of Jan.

But if you're not gonna be using that money anytime soon, then the balance today doesn't matter. I'm taking this as an opportunity to look at my dropping investment balance, notice that my daily/monthly cashflow hasn't changed a bit, and take to heart the advice to stay the course. :)

There's a thread somewhere about marveling that being able to lose $x without real hurt is its own indicator of wealth... And of course, you will re-earn that $1600. I'm sorry it's set you back from the thread goal, but this is normal and [hopefully] we were ready for it!

haypug16

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Re: Saving to $10K
« Reply #667 on: February 09, 2018, 11:40:16 AM »
my accounts are not liking the market dip. :( Hoping my income will outweigh the losses. So far I'm down $1,600 from the end of Jan.

But if you're not gonna be using that money anytime soon, then the balance today doesn't matter. I'm taking this as an opportunity to look at my dropping investment balance, notice that my daily/monthly cashflow hasn't changed a bit, and take to heart the advice to stay the course. :)

There's a thread somewhere about marveling that being able to lose $x without real hurt is its own indicator of wealth... And of course, you will re-earn that $1600. I'm sorry it's set you back from the thread goal, but this is normal and [hopefully] we were ready for it!

Yes of course the balance today "doesn't matter". I just like the idea of my balance reflecting all the work I'm putting in. Like all my debts going down.

Just posting feelings not planning on taking all my money out of the market. :)

Tass

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Re: Saving to $10K
« Reply #668 on: February 09, 2018, 01:11:43 PM »
Yah I didn't mean to be doling out market advice. Just cheerful takes on the situation. :) Frustration in this circumstance makes sense, though.

haypug16

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Re: Saving to $10K
« Reply #669 on: February 09, 2018, 02:10:44 PM »
no worries. I got a little too used to the market going up up up. I knew in my mind that it was bound to go down at some point. I was toying with the idea of re-balancing (my accounts are set up to do this quarterly automatically) but never got around to doing it. Oh well. I'll be able to purchase many more shares with my next paycheck :) 

zeli2033

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Re: Saving to $10K
« Reply #670 on: February 09, 2018, 02:57:56 PM »
my accounts are not liking the market dip. :( Hoping my income will outweigh the losses. So far I'm down $1,600 from the end of Jan.

But if you're not gonna be using that money anytime soon, then the balance today doesn't matter. I'm taking this as an opportunity to look at my dropping investment balance, notice that my daily/monthly cashflow hasn't changed a bit, and take to heart the advice to stay the course. :)

There's a thread somewhere about marveling that being able to lose $x without real hurt is its own indicator of wealth... And of course, you will re-earn that $1600. I'm sorry it's set you back from the thread goal, but this is normal and [hopefully] we were ready for it!

Yes of course the balance today "doesn't matter". I just like the idea of my balance reflecting all the work I'm putting in. Like all my debts going down.

Just posting feelings not planning on taking all my money out of the market. :)

This here. I know what steps I need to take (stay the course) which I don’t have a problem with but I also liked seeing the numbers reflect the hard work we were putting in. I like to see the fruits of our savings labor immediately :) Quite humbling to receive the tax refund, invest the total amount and then watch our net worth and asset amount drop as if nothing happened...

Either way, money will stay put and we will continue on our wealth accumulation/debt reduction journey. I just look at the numbers much less frequently - which is probably a good thing for me anyway...

lemonverbena

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Re: Saving to $10K
« Reply #671 on: February 09, 2018, 08:26:48 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.

Mid-Nov:
SEP IRA: $1395
tIRA: $1826
Car loan: $3452
Roof loan: $3578
Emergency fund: $1000
Hospital bill: $2024, maybe. It's under review.

Total: -$4833

Mid-Dec:
SEP IRA: $1399
tIRA: $1849
Car loan: $3211
Roof loan: $1506
Emergency fund: $1000
Hospital bill: $1774

Total: -$2243

Mid-Jan:
SEP IRA: $2524
tIRA: $1978
Car loan: $2971
Roof loan: $1352
Emergency fund: $1000
Hospital bill: $1523

Total: -$344 Getting close to zero!!!

Feb:
SEP IRA: $3439
tIRA: $2111
Car Loan: -$2730
Roof Loan: -$1352
Emergency Fund: $1000
Hospital Bill: -$1523

Total: $945 Tada!! Positive net worth!! It took 13 months to make it to the starting line, but I made it :)

Spruit

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Re: Saving to $10K
« Reply #672 on: February 10, 2018, 01:59:27 AM »
my accounts are not liking the market dip. :( Hoping my income will outweigh the losses. So far I'm down $1,600 from the end of Jan.

But if you're not gonna be using that money anytime soon, then the balance today doesn't matter. I'm taking this as an opportunity to look at my dropping investment balance, notice that my daily/monthly cashflow hasn't changed a bit, and take to heart the advice to stay the course. :)

There's a thread somewhere about marveling that being able to lose $x without real hurt is its own indicator of wealth... And of course, you will re-earn that $1600. I'm sorry it's set you back from the thread goal, but this is normal and [hopefully] we were ready for it!

Yes of course the balance today "doesn't matter". I just like the idea of my balance reflecting all the work I'm putting in. Like all my debts going down.

Just posting feelings not planning on taking all my money out of the market. :)

This here. I know what steps I need to take (stay the course) which I don’t have a problem with but I also liked seeing the numbers reflect the hard work we were putting in. I like to see the fruits of our savings labor immediately :) Quite humbling to receive the tax refund, invest the total amount and then watch our net worth and asset amount drop as if nothing happened...

Either way, money will stay put and we will continue on our wealth accumulation/debt reduction journey. I just look at the numbers much less frequently - which is probably a good thing for me anyway...

This is why I also have a graph of the number of shares I own, not just the value at any given time. So I can make my progress, regardless of circumstances, a tangible thing.
Yay, out of debt... now, GROW!
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Trifele

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Re: Saving to $10K
« Reply #673 on: February 10, 2018, 02:36:09 AM »
Total: $945 Tada!! Positive net worth!! It took 13 months to make it to the starting line, but I made it :)

Congrats LemonVerbena!!  Positive territory is huge. Great job!

zeli2033

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Re: Saving to $10K
« Reply #674 on: February 10, 2018, 12:03:44 PM »
@Spruit that's a great idea! I'm going to borrow your graph of actual shares owned and start doing that on our end.

CONGRATS, @lemonverbena! Huge win. Awesome to see how your hard work paid off :)

MSquared

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Re: Saving to $10K
« Reply #675 on: February 12, 2018, 08:36:30 AM »
Way to go, lemonverbena!!!!  That's such a good feeling.

And yes, the market dropping feels crappy, even though I know it doesn't mean anything to me right now.  My 401K was up by 25% at one point -- I knew it couldn't stay that way! 

M5

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Re: Saving to $10K
« Reply #676 on: February 13, 2018, 02:54:08 PM »
We were recently above 10k, but decided it was silly to keep paying interest on debt while we had money available. So, we start over and now there's nowhere to go but up! The only debt we have is on our rental property, we don't own our primary residence. Only including investments, rental house equity in our NW calculations.

2/1/18 - $5,047.07

Hoping to join the 10k club again within 2 months!

Rimu05

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Re: Saving to $10K
« Reply #677 on: February 14, 2018, 12:41:01 PM »
Time to join this seriously and post my finances to the direct number. I have all my accounts on Mint so despite not posting here. I pretty much can see what a poor net worth I have on mint.

I think I should define this by net worth, but my first savings to 10K will be trying to get my savings account and 401K there. I save about $1000 each month, so my monthly expenses tend to be around 1400

Age - 25

Total net worth = -$30,768

Car loan = -$9,331
Student loan = $-28,503
Credit card = -$ 4,313 (about 4,000 is medical debt, but lazy paying this as it is on 0% until next year)

Positives

401K - $7785
Checking - 1287.60 (Haven't paid all my bills yet, will have about $200 left after bills.)
Savings - $2300.11

Short term goal - Get savings account to $5,000. Pay of credit card debt and cancel credit card. I ripped up this card after putting all my medical bills on it. Once, I pay it off. going to cancel it.

On that note, my 401K is the most impressive. I have contributed only about 6% of my income last year and bumped it up to 10% this year and amazed that it somehow managed to reach $7,000. Once, my credit card debt is gone, really going to get on a Roth IRA.


Total networth = -29,399
Car loan = -$9,030
Student loan = -$28,503
Credit card = -$ 4,228  (0%)

Positives

401K - $8,263
Savings - $2800.11

New year hear we go.

Total net worth = -$27,676

Car loan = -$8424
Student loan = $-28,320
Credit card = -$ 4,330 (Still at 0%, not going to pay it until other goals are met)


Positives

401K - $9,162 (This is nuts, i don't have a high income, it's like increased by over $1000 in a month??)
Checking - 158
Savings - $4000

Age: Now 26, Birthday was on the 5th of Feb

Total net worth = -$26,017 Company 401k match really helped.

Car loan = -$8424
Student loan = $-28,110
Credit card = -$ 4,330 (remains untouched)


Positives

401K - $10,411 (Company match, pushed it up)
Checking - 479
Savings - $4400


Goal is still to get savings to 10K but need tires for my car and some incoming emergencies.

« Last Edit: February 14, 2018, 12:43:35 PM by Rimu05 »

lexde

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Re: Saving to $10K
« Reply #678 on: February 15, 2018, 05:40:27 AM »
I’m in! 10k net worth will be my goal for May 2018.

December 14, 2017: +811
[took out NW graph for quoting]
12/29/2017: $2,243
1/14/2018: $3,162.51
1/31/2018: $5,592.26
2/15/2018: $8,544.84

I got a $5K raise at work which became effective with today's paycheck. Very surprisingly, they retroactively paid for January's salary increase in this check, too. I was really impressed. So that, plus an increased 401K percentage contribution, and my final HSA contribution for the year, meant a decent jump in NW this check. Hopefully, this means I'll hit 10K by the end of March. :-)
« Last Edit: February 15, 2018, 05:45:18 AM by lexde »

zeli2033

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Re: Saving to $10K
« Reply #679 on: February 15, 2018, 09:13:02 AM »
That is awesome - congrats, lexde! You'll be out of here in no time :)

Mid-month update:

12/11/17: (47,400)
12/26/17: (42,469)
12/29/17: (39,190)
1/31/18: (28,165)
2/15/18: (26,399)

Assets [401ks, IRAs, Cash]: $38,620
Student Loan + CC: (65,019)

We are THIS CLOSE to wrapping up 2018 roth contributions for the two of us this year. The tax refund helped quite a bit. We also decided to start cashing in on rewards points and using CCs for everyday purchases but they'll be paid off in full at the end of the month so the net worth definitely reflects that. If things continue on as we've projected, this will be the first month we can put an extra payment toward the student loans.

M5

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Re: Saving to $10K
« Reply #680 on: February 15, 2018, 09:34:33 AM »
We were recently above 10k, but decided it was silly to keep paying interest on debt while we had money available. So, we start over and now there's nowhere to go but up! The only debt we have is on our rental property, we don't own our primary residence. Only including investments, rental house equity in our NW calculations.

2/1/18 - $5,047.07

Hoping to join the 10k club again within 2 months!
2/15/18: $6,186.39

haypug16

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Re: Saving to $10K
« Reply #681 on: February 15, 2018, 09:41:53 AM »
February mid-month update

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)
10/31/2017 (33,346.78)
11/30/2017 $(28,911.53)
12/31/2017 $(24,424.13)
1/31/2018 $(20,454.43)
2/15/2018 $(20,844.91) -390.48 decrease!

Went the wrong way this month. The good news is that this is all due to the Market correction. I still paid down about $2K in Credit Card debt and about $1K in Student Loans in just the first half of the month. The other good news is I still have another Full-Time and a part-time check coming to me this month and fingers crossed the market is done correcting itself and I can salvage this month.


recklesslysober

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Re: Saving to $10K
« Reply #682 on: February 15, 2018, 03:11:07 PM »
December: -$62,200
January: -$60,100

I'm up to $24K invested.. hopefully will hit the $25K mark next month! 1/4 of the way to the first $100K.

February: -$58,700

fluffmuffin

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Re: Saving to $10K
« Reply #683 on: February 19, 2018, 02:39:50 PM »
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
11/1/2017: $4,121.00
11/16/2017: $4,208.73
12/1/2017: $4,267.73
12/15/2017: $4,532.82
12/30/2017: $4,864.78
1/16/2018: $8,114.78
2/2/2018: $8,424.59
2/19/2018: $8,431.24

A little late with the mid-month update. Work has been really busy and the LAST freaking thing I've wanted to do with my spare mental energy is talk about budgeting. Which is probably bad because I only added like $6 to my house fund and I spent most of the difference on consumer goods,* which is unusual for me. And I'm going to spend more money on clothes this month? It's kind of mind boggling, but then I've also hit a point where I'm tired of wearing boots with the soles coming apart** and leggings with holes in them. I haven't bought new winter clothes or shoes in about four years and I just don't choose to deal with having such limited options anymore.

*I did bank $$$ for the upcoming wedding season and summer travel.
**Not worth repairing since the leather around the zipper is also starting to fray.

Spruit

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Re: Saving to $10K
« Reply #684 on: February 20, 2018, 01:20:50 AM »
You van buy An aweful lot of clothes for little money in a thriftshop. That does take some trial and error though, as in : multiple runs before you getall the things you are looking for.
Yay, out of debt... now, GROW!
My current journal

fluffmuffin

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Re: Saving to $10K
« Reply #685 on: February 20, 2018, 01:30:33 PM »
You van buy An aweful lot of clothes for little money in a thriftshop. That does take some trial and error though, as in : multiple runs before you getall the things you are looking for.

Yeah, I know. I buy most of my clothes second-hand since it's a win for both the budget and sustainability, but it can be tough when you're trying to plug specific holes. I've been looking for a new pair of black work pants for over a year, for example, and haven't been able to find the unicorn pair in the right size, right fit, and right quality of construction. I'm trucking along without them, even though my work wardrobe would be easier to manage if I had them, because I don't need-need them and am willing to keep sucking it up until I find something perfect.

The stuff I've been replacing, though, is more critical-level and has not been available at my second-hand shops of choice. A big chunk of it is also athletic wear, which is not really something I'm interested in picking up second-hand because of the sweat factor. It's February, I have one pair of leggings without holes in them, and I work out 5-6 days a week.

I feel like I'm doing a lot of justifying. I thought all of my winter clothes had worn out last year, but I gritted my teeth and got through it to save the money. But this year I'm DONE.

Spruit

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Re: Saving to $10K
« Reply #686 on: February 20, 2018, 02:09:10 PM »
Okay, totally get that. No justification needed on my account :-) I don't find everything thrifted all of the time either. 80-20 principle works for clothes as well I guess.
Yay, out of debt... now, GROW!
My current journal

Trifele

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Re: Saving to $10K
« Reply #687 on: Today at 02:56:43 AM »
Just wanted to share this inspiring post from the "Share Your Badassity" thread, about starting from nothing with low earnings, and what it feels like to make it to $100k:

https://forum.mrmoneymustache.com/share-your-badassity/thank-you-to-this-community-hit-over-$100k-started-at-minimum-wage/
« Last Edit: Today at 03:08:06 AM by Trifele »

haypug16

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Re: Saving to $10K
« Reply #688 on: Today at 06:38:24 AM »
Thanks for sharing that link Trifele. :)

Can't wait for all of us to reach that level!