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Author Topic: Financial review with wife, just set up 50% saving rate!  (Read 3113 times)

big_slacker

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Financial review with wife, just set up 50% saving rate!
« on: November 23, 2015, 07:05:20 AM »
We've been slowly creeping towards more savings. Since the end of the year is coming up and I took a new job I figured I'd whip up a spreadsheet to see where I'm at.

Employer has decided to match half of all 401k up to federal max, so that's maxed.
Our expenses have been reduced since we've cut our food and entertainment budget, and I paid off my jeep with new job signing bonus.
Employer has stock purchase plan at 10% discount (free money, woohoo!)
Switched to an HSA, pre-tax $$ and it's ours if we don't spend it on healthcare.

All of this together when I ran the numbers means not only am I at 50% savings rate which I would not have thought possible just a year ago, but I'll be at my # a significant number of years faster. Have not counted bonus or my wife going back to work next year either.

Super happy about this, figured I'd share since this site is a big driver for moving my finances this way!
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former player

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Re: Financial review with wife, just set up 50% saving rate!
« Reply #1 on: November 23, 2015, 08:35:05 AM »
Sounds like you might need to change your forum name.

Congratulations.
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StockBeard

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Re: Financial review with wife, just set up 50% saving rate!
« Reply #2 on: November 23, 2015, 06:32:38 PM »
Congrats!
Isn't it amazing how this whole saving thing becomes quickly addictive?
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FIRE_Buckeye

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Re: Financial review with wife, just set up 50% saving rate!
« Reply #3 on: November 23, 2015, 06:42:10 PM »
Quote from: big_slacker on November 23, 2015, 07:05:20 AM
Employer has decided to match half of all 401k up to federal max, so that's maxed.

Uhh.....where do I sign up!?
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moneyandmillennials

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Re: Financial review with wife, just set up 50% saving rate!
« Reply #4 on: November 23, 2015, 11:02:31 PM »
wow your employer is generous!

congratulations!
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HappierAtHome

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Re: Financial review with wife, just set up 50% saving rate!
« Reply #5 on: November 23, 2015, 11:13:21 PM »
Congrats! How awesome :-)
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dude

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Re: Financial review with wife, just set up 50% saving rate!
« Reply #6 on: November 24, 2015, 06:01:31 AM »
Well done.  I can't get my wife to sit down and review numbers with me for anything!  She at least does what I tell her as far as maxing out her 401k and where to invest it. But I really need to get a better idea of her annual spend (I'm confident she herself has no idea).
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big_slacker

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Re: Financial review with wife, just set up 50% saving rate!
« Reply #7 on: November 24, 2015, 01:46:26 PM »
Quote from: dude on November 24, 2015, 06:01:31 AM
Well done.  I can't get my wife to sit down and review numbers with me for anything!  She at least does what I tell her as far as maxing out her 401k and where to invest it. But I really need to get a better idea of her annual spend (I'm confident she herself has no idea).

My wife has a self proclaimed math phobia. However a spreadsheet with 5 numbers highlighted anyone can do. She had a few questions about how this or that will work (kid's college, misc spending, etc.) but with those answered she's happy to let me take care of it and just give her the smaller part of the budget she controls.
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