Saving to $10K

[LittleWanderer]

Way to go, Spruit!  I'll see you in the race to $100K thread.  :)

[Spruit]

Thanks all! Now to figure out which thread to join next. 10k to 100k? My God, 100k seems so out of reach.

[Trifle]

Thanks all! Now to figure out which thread to join next. 10k to 100k? My God, 100k seems so out of reach.

You can do it @Spruit !  (That has a nice ring to it haha).  It took me about 12 years to get to 100k, and I bet you will beat that by a mile!

It's a great time to join the 10k-100k thread; lots of nice folks just starting on the journey.

[LittleWanderer]

My God, 100k seems so out of reach.

I really, really hear you.  I'm going to be in that thread for forever.  Come settle in with me.  LOL. 

[haypug16]

September 2018 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)
2/28/2018 $(18,221.63)
3/31/2018 $(14,916.69)
4/30/2018 $(9,800.88)
5/31/2018 $(7,375.85)
6/30/2018 $(5,735.59)
7/31/2018 $(7,109.58)
8/31/2018 $(6,439.93)
9/30/2018 $(2,990.84) +3,449.09 Increase

:D very happy with this month. Looks like I have a shot at hitting zero by end of October. I'm hoping to then hit $10K my mid April.

[Imma]

Savings:
July 31:                 €2400
August 30:            €2000
September 27:       €1300
October 30:           €1400
November 30:        €1600
December 29:        €1100
February 1:            €1100
February 28:          €1300
March 29:              €1300
April 30:                  €800
May 29:                 €2300
June 28:                €3500
July 31:                 €3250
August 31:             €3700
September 30:       €2550

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
February 29:          €3101,58
March 29:              €3160,54
April 30:                €3439.66
May 29:                 €3729.27
June 29:                €3890.53
July 31:                 €4106.20
August 31:             €4278.05
September 29:       €4285.11 (didn't do the monthly transfer yet)


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
February 29:           €4401,58
March 29:               €4460,54 
April 30:                 €4239.66
May 29:                  €6029.27
June:                      €7390.53
July 31:                  €7356.20 ( + €70 on my credit card, so really €7426.20)
August 31:              €7978.05
September 29:        €6835.11

Goals for 31 December 2018:

Savings:            €3000 €5000
Investments:     €4500
Total:                €7500    €9500

I haven't been doing too well this month :(  I quit my old job and they still owe me about €2500 gross, but so far they haven't paid me. I didn't have major issues at work, but it seems my old boss feel like I'm betraying him by leaving. I have a law degree and succesfully sued people for him when I worked there, so I hope he's just paying me late to hurt me, but will pay up eventually. Thankfully I have savings. I paid my bills from savings this month, which is one reason why they're a bit lower than normal. The other reason is that I spent some money on a short trip to Germany (about €350 all in all) travelled to see friends a few time, bought some new items of clothing for my new job and spent some money on DIY items (my boyfriend is off work for a whole month, so he has time to do things). My new job starts this Monday and I get paid weekly, so I will be able to save money again next week.

[Dicey]

In the US there are strict rules and severe penalties for dodging complete, prompt payout when an employee leaves for any reason. Is that not true for you, Imma?

[Imma]

In the US there are strict rules and severe penalties for dodging complete, prompt payout when an employee leaves for any reason. Is that not true for you, Imma?

If he hasn't paid me by Wednesday late payment fees will start to apply. We're talking about a small business owner who isn't always acting completely rational, so I hope he's clever enough to pay in time, but I'm not completely sure he is. If he doesn't pay soon, I'm prepared to go to court within the next few weeks. I'm able to prepare the legal paperwork myself so it wouldn't cost me anything.

I knew this was likely to happen (it seems I've hurt his fragile ego by leaving) but I'm still a bit surprised he's actually not paying, because it's such a black and white situation. There's no possible justification for his behaviour.

[Spruit]

@Imma, what a jackass... good riddance!
Also, weekly pay that's highly unusual. Nice to see your money pile up 4x a month though :)

[comicguy]

Date           Corvette   Roth - 1   DRIP Stock      Total
 9/18/18   1760.03   1000           3423.11           6183.14   
 9/30/18   2000.03   1000            3473.11      6473.14

[elliha]

I am entering this thread now:

Index funds and stocks: 17 286 SEK (USD: 1951.61)
Emergency fund: 31 009 SEK (USD: 3500.61)

My aim will be 100 000 SEK instead of 10 000 USD as that will be a round number for me and I don't have to take changing currancies into consideration. As my husband is unemployed right now I expect the progress to be slow for a while but once he gets a job I will get going. Almost everything I have is money I saved this year so I hope that if we go back to two incomes relatively soon I will be able to get to 100 000 next year without much effort.

[Imma]

Welcome Elliha!

You're already almost halfway your goal. If you have saved this up over the last year, while your husband is unemployed, you're going to make great progress once he finds a job again!

[elliha]

Welcome Elliha!

You're already almost halfway your goal. If you have saved this up over the last year, while your husband is unemployed, you're going to make great progress once he finds a job again!

Most was while he was working but I only started being really active in saving in May or so. So knowing this I am OK with a small increase until he will get a new job. It should be doable and his old employer may want him back in a month or two if there is snow so it may be the easy solution we are hoping for.

[Manchester]

Hey @Imma

Good luck with your new job, you'll have to let us know what you thought of your first day today?  Your former employer seems like an idiot.  I always laugh at situations like that.  He wants to keep you as an employee, but isn't prepared to pay you what you deserve.  He can't have his cake and eat it too!


Hi @elliha and welcome to the board.  You've got a good foundation that you're starting from.  I hope your partner finds work soon as that will really help you (although you aren't doing badly currently).  All my figures are inn £'s rather than $'s.  I don't see the sense in converting etc and I know a few other posters do something similar with their respective currencies. 

[bcbaseballman]

2018
1/31 : (5949.05)
2/28 : (5288.30)
3/31 : (4273.93)
4/30 : (2592.07)
5/31 : (629.70)
6/30 : 1,206.77
7/31 : 2,703.97
8/31: 5,651.70

9/31: 8,039.01

I just keep plugging away. Investments went up right around 1,230. Debt dropped this month around 1,075. Sold off some of my stuff that has been accumulating around the house this last month and all of that went toward my debt.

I am hoping that I will break that 10,000 barrier next month if all goes as plans.

Welcome @elliha these folks here have really kept me on a straight path

@Imma I hope all goes well for you with your new job and get everything straightened out with the old. Seem like you are going to have a very exciting next couple of weeks!

[mckaylabaloney]

1/1/2018: $(170,956.12)
2/1/2018: $(166,849.63)
3/1/2018: $(161,395.88)
4/1/2018: $(156,590.44)
5/1/2018: $(152,997.61)
6/1/2018: $(149,175.48)
7/1/2018: $(143,748.22)
8/1/2018: $(138,734.38)
9/1/2018: $(135,043.66)
10/1/2018: $(131,441.14)

Well, between the markets not really rising at all over the month, and me being particularly spendy (bought some fall clothes I didn't really need, and took two short vacations to expensive cities), I clearly missed my (ambitious) goal of getting into the -$120Ks this month. But hey, I will never complain about moving $3600 in the right direction. I know I am really fortunate to have an income that is high enough to keep me moving the right way even when I'm not being especially responsible with my spending.

[Imma]

Thanks everyone for the kind messages :) the new job is a million times better and my old boss is no longer ignoring me, although he also hasn't paid yet. We'll see how that works out.

[cazio]

Back again! Long story short, I finished college and moved again, and my EF took a big hit. I'm working freelance in the film industry, so my EF has to be pretty padded and ready to take some hits. I've also got student loans to pay off and probably a car to pay of depending on what happens at the end of my lease in May (yes, I have already facepunched).

I have a feeling my net worth is going to fluctuate a lot in the next 6 months, but trend upward. :)

10/2/18 - $(2742.60)

[jojoguy]

And....here....we....go....

October 7, 2018 = $600

[Dicey]

And....here....we....go....

October 7, 2018 = $600

Go jojoguy! The first 10k is the hardest. You can do it!

[Telecaster]

Go jojoguy! The first 10k is the hardest. You can do it!

Word.  The first $10K is by far the hardest.  Attack it.  Declare war.  Conquer that thing.  Get to $10K as fast as you can.  Live on dog food if you have to.  At that point, you start to see the benefits of compounding.  You'll get to $20K in about half the time it took you to get to $10K.  And it will take about the same amount of time to go from $100K to $200K as it does from $10K to $20K.   Compounding is the miracle drug.  Once you build that nut you will be shocked how fast it grows. 

[Imma]

Welcome jojoguy and welcome back Cazio!

[jojoguy]

Thanks for the encouragement ya`ll. I want to set a high goal. My place of work is usually letting me work overtime and I want to take advantage. My goal is $10,000 in four months. This ought to be fun.


Note: This will come from both me and my wife`s income.

[Moonwaves]

So, yesterday my savings in an ETF fund were €956, today they're worth €901. Yikes!
I will, of course, be comforting myself with the thought that perhaps this month, for the first time, the next influx of cash will get me more units than usual. But still, that's essentially all of the profit I had built up so far - sobering to see it just wiped out.

[Hirondelle]

Similar feelings here Moonwaves! I started investing in ETFs a year ago and just last week the total balance was +800sth. Now it's back down to +300 only. I just did my monthly contributions a few days ago so I was 'sad' I'd missed out on this little sale :p.

[Moonwaves]

I also go and read the Top Is In thread for comfort sometimes. It's like a huge party over there at the moment. LOL

[comicguy]

Date           Corvette   Roth - 1   DRIP Stock      Total
 9/18/18   1760.03     1000           3423.11           6183.14   
 9/30/18   2000.03     1000           3473.11           6473.14
10/13/18  2051.48     1200      3473.11        6724.59

[Imma]

I'm glad that my investment account only gets updated once a week, so I'll only see the damage this Monday.

I'm getting very close to this year's 5k savings target, but I nerd to buy some expensive items over the next few weeks: new glasses, winter shoes and a winter coat. I've been looking for used for months, but didn't find what I was looking for, then also started looking for new and I still can't find what I want. I need to make a decision soon, wearing my old coat / shoes for one more year is not an option (both are over 10 years old and their replacement is long overdue). I hate having to spend money when I'm so close to my target.

[Rimu05]

I'm glad that my investment account only gets updated once a week, so I'll only see the damage this Monday.

I'm getting very close to this year's 5k savings target, but I nerd to buy some expensive items over the next few weeks: new glasses, winter shoes and a winter coat. I've been looking for used for months, but didn't find what I was looking for, then also started looking for new and I still can't find what I want. I need to make a decision soon, wearing my old coat / shoes for one more year is not an option (both are over 10 years old and their replacement is long overdue). I hate having to spend money when I'm so close to my target.

I just bought some replacement glasses from Zenni Optical $16 and $6 was shipping.

[Imma]

I'm glad that my investment account only gets updated once a week, so I'll only see the damage this Monday.

I'm getting very close to this year's 5k savings target, but I nerd to buy some expensive items over the next few weeks: new glasses, winter shoes and a winter coat. I've been looking for used for months, but didn't find what I was looking for, then also started looking for new and I still can't find what I want. I need to make a decision soon, wearing my old coat / shoes for one more year is not an option (both are over 10 years old and their replacement is long overdue). I hate having to spend money when I'm so close to my target.

I just bought some replacement glasses from Zenni Optical $16 and $6 was shipping.

Do you like them? Sorry far, I've always regretted going for the cheaper option when it comes to glasses.

[haypug16]

I'm glad that my investment account only gets updated once a week, so I'll only see the damage this Monday.

I'm getting very close to this year's 5k savings target, but I nerd to buy some expensive items over the next few weeks: new glasses, winter shoes and a winter coat. I've been looking for used for months, but didn't find what I was looking for, then also started looking for new and I still can't find what I want. I need to make a decision soon, wearing my old coat / shoes for one more year is not an option (both are over 10 years old and their replacement is long overdue). I hate having to spend money when I'm so close to my target.

I just bought some replacement glasses from Zenni Optical $16 and $6 was shipping.

Do you like them? Sorry far, I've always regretted going for the cheaper option when it comes to glasses.

I get mine from Zenni as well. I love mine.

[haypug16]

October 15th 2018 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)
2/28/2018 $(18,221.63)
3/31/2018 $(14,916.69)
4/30/2018 $(9,800.88)
5/31/2018 $(7,375.85)
6/30/2018 $(5,735.59)
7/31/2018 $(7,109.58)
8/31/2018 $(6,439.93)
9/30/2018 $(2,990.84)
10/15/2018 $(3,730.36) - $739.52 decrease


My only comfort is the fact that is all due to the market, I lost about $1,600 between Sept 30th and today :( I have been super frugal this month and continue to pay down my student loans, which are my only debts. Hoping things turn around so I can get close to zero this month.

[haypug16]

October 15th 2018 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)
2/28/2018 $(18,221.63)
3/31/2018 $(14,916.69)
4/30/2018 $(9,800.88)
5/31/2018 $(7,375.85)
6/30/2018 $(5,735.59)
7/31/2018 $(7,109.58)
8/31/2018 $(6,439.93)
9/30/2018 $(2,990.84)
10/15/2018 $(2,332.37) +658.47 increase

We can all ignore that last update. I forgot to update one of the balances. I was so happy when I saw that while reviewing my Google Sheet. :) Reaching zero by the end of the month is looking better.

[Moonwaves]

BoI savings a/c: 125.00
DiBa ETF: 910.07
CmzBank savings a/c: 950.00
Total:  1,985.07

BoI savings a/c: 150.00
DiBa ETF: 962.86
CmzBank savings a/c: 1,000.00
Total:  2,112.86

Have done huge amounts of side-gig work in the last month so will be taking some time this week to write up a few very nice invoices. I will have to wait a bit for the largest of these to be paid but when they do come in, it will be a lovely boost for savings.

[fluffmuffin]

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
3/30/2018: $8,614.89
4/16/2018: $8,742.36
5/1/2018: $8,905.80
5/16/2018: $9,005.80
6/14/2018: $9,020.38
7/1/2018: $9,112.55
7/16/2018: $9,421.18
8/1/2018: $9,545.20
8/15/2018: $9,545.20
9/7/2018: $9,587.61

10/16/2018: $10,030.04!!

Work + life have continued to be super-busy, so I haven't been around, but I wanted to check in since I MADE IT! It took me longer than I thought it would, even with a hand along the way, but I kept slogging it out and as of today I am officially over the $10k mark. Thank you all so much for the support and accountability along the way.

And now...I re-start the challenge with $125 in savings for my wedding. Lol. Sobs. (Not really.) (Maybe.) (My bank account wants to know if it's too late to elope.)

[haypug16]

10/16/2018: $10,030.04!!

Work + life have continued to be super-busy, so I haven't been around, but I wanted to check in since I MADE IT! It took me longer than I thought it would, even with a hand along the way, but I kept slogging it out and as of today I am officially over the $10k mark. Thank you all so much for the support and accountability along the way.

And now...I re-start the challenge with $125 in savings for my wedding. Lol. Sobs. (Not really.) (Maybe.) (My bank account wants to know if it's too late to elope.)

Congrats!!! and good luck on your next race for the wedding :) Part of me wishes I eloped but the vast majority of me is really happy with how the day turned out and I won't want to trade that in for the money I spent.

[LittleWanderer]

10/16/2018: $10,030.04!!

Work + life have continued to be super-busy, so I haven't been around, but I wanted to check in since I MADE IT! It took me longer than I thought it would, even with a hand along the way, but I kept slogging it out and as of today I am officially over the $10k mark. Thank you all so much for the support and accountability along the way.

And now...I re-start the challenge with $125 in savings for my wedding. Lol. Sobs. (Not really.) (Maybe.) (My bank account wants to know if it's too late to elope.)

Hooray!!!  Way to go, fluffmuffin!  And it's never too late to elope!  ;)

[Imma]

Congrats Fluffmuffin! Well done. We will be eloping, but it's also totally possible to have a (relatively) cheap wedding. We went to one of those recently. The party and the food was great, but I think they saved a fortune by having the ceremony in the late afternoon and then a party from 6 to 11 in a BBQ-restaurant instead of having the ceremony earlier in the day, followed by wedding cake, formal dinner and a late night party. The bride also wore a prom dress instead of a huge white bridal gown. And this was probably the most fun wedding I've ever been to :)

[Trifle]

Congrats Fluffmuffin!   Woo hoo!

And +1 that cheap weddings are doable and fun.  There are at least a couple of threads on the forum about it. 

[bcbaseballman]

Congratulations @fluffmuffin !! We did our wedding for about 3 grand. not super cheap but rather cheap for the 250 guests we had.

[Dicey]

We were almost FIRE when we got engaged. We decided to elope and I retired 21 days later.  Totslly worth it. We planned on throwing a big party afterwards, but it just never seemed necessary. We celebrated our sixth anniversary last week. Best decision ever.

[fluffmuffin]

Thanks all. I'm not actually re-starting the challenge because a lot of the wedding money will be flowing in and out in unpredictable waves, but I'll still be here in spirit :)

We don't actually want to elope--we love our family + community and want to celebrate with them. Money is just real and we're stuck with a pricier area for $reasons.

[Dicey]

Posting to get some of this sweet motivation.  In 2016 DH and I had 6 mo of living expenses saved up right before SHTF.  We moved 1000 miles to be closer to family while there still some left after one relative died and another fell ill.  Then, the job I was counting on to ease our transition to the new location turned out to be unsafe.  Thanks to the FU fund I was able to quit before I got hurt, but it was a long year of part time jobs and side hustles before we were both fully employed again.  We made lifestyle adjustments on the fly adjusting to the lower wages in this region and managed to stay debt free, but now that life has stabilized I recently realized we’re coasting a bit, so it’s time I focus on building the fund back up before lifestyle inflation sneaks up on us, or the SHTF again.

Having that money available made all the difference these last two years.  Times were tight and doing without hurt, but for the most part, we were able to make choices based on what fit our goals and morals, not based on what we could afford in the moment.   I can’t state strongly enough how valuable it is to have something tucked away.

Oct 2018 emergency fund $3,044

I have never cottoned to the idea that a tiny EF was sufficient. Seems as if you agree and it saved your bacon. Glad you had it and even more glad that you've landed on your feet again. You'll be winning this race in no time!

[jojoguy]

October 7, 2018 = $600
October 18, 2018 = $2500


Had a little more savings then I originally thought and added it. I`m also pulling a lot of overtime money in. My goal is to save/invest $3,000 a month. Things are about to get interesting.

[Manchester]

Well done @fluffmuffin !!

All the best moving forward and I'll visit you in the race to 100 soon! :)


@jojoguy That's a really impressive increase for a few weeks worth of time!  If you hit your 3k per month target you'll fly through here!


@SheWhoWalksAtLunch You've done well to weather the storm!  Imagine how bad it could have been had you not had an emergency fund? 

[Manchester]

+£1,319.83 this month.  It's my 6th month in a row where I've increased my N/W by over £1k.  This 'should' be my last month on this thread, but I do have quite a bit coming up with Christmas, stag-do, short holiday etc.   Regardless I should be done by Christmas which was my initial target. 

[haypug16]

Nice Job Manchester!

[Imma]

Well done Manchester! You've been making a lot of progress over the summer / autumn.

[Manchester]

Thanks guys.  I think my progress over the summer/autumn has been down to 2 things - My girlfriend returned to work, which means I'm no longer covering extra bills etc.  The second is my matched betting side hustle really helping.  I think the more my matched  betting bank grows the more I'll make.  Everything I make from my side hustle is with FIRE in mind!

[carozy]

I'd like to join.  I have two things I'm watching right now - my car loan and my emergency fund.  I'd like to pay off the car loan and get the emergency fund up to $10,000.

$4246.67 car loan, $1246.67 saved, $3000 left to pay off

$800 emergency fund, $9200 left to fully fund my emergency fund