Author Topic: Saving to $10K  (Read 395022 times)

mountain mustache

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Re: Saving to $10K
« Reply #1550 on: August 07, 2020, 06:56:18 AM »

Last month was SO hard....and then at the end of the month I got a shocking surprise, and one of my best friends sent me a check to pay off the rest of my medical bills and most of my remaining debt. Stuff like this never happens to me, so I was floored. I've never asked anyone for financial help, and feel 100% responsible for my debt, because it was my choice, etc. BUT it was such a huge help, and it just turned everything around after having such a rough July with furlough, no unemployment, and a crazy car repair. I'm so grateful. I think I will be out of this thread sooner than I expected!

05/01- $2382.02
05/15- $3627.00
05/29- $4443.54
06/12- $4819.10
06/26- $5000.00
07/10- $5520.67
07/24- $5232.52
08/07- $7963.03

Debts:
CC Debt @ 0% interest- $645
Regular daily use CCs (paid off in full every month) - $875.50

Assets:
Savings- $2546.00
Checking- $200.00
Car Savings- $667.40
Traditional IRA- $4216.06
401k- $1852.19

NotSoMustachian

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Re: Saving to $10K
« Reply #1551 on: August 08, 2020, 08:04:30 PM »
My Update for the month, I'm expecting this to be the last month in this thread baring something wild happening.  Only counting investment accounts, with cash I'm already there.

12/17/19 - $0
2/1/20 - $3,282.45
3/1/20 - $4,254.70
4/1/20 - $3,579.25
5/1/20 - $5,386.17
6/1/20 - $7,006.17
7/1/20 - $8,731.20
8/1/20 - $9,325.89

Trifele

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Re: Saving to $10K
« Reply #1552 on: August 09, 2020, 02:30:45 AM »
@mountain mustache -- that's an amazing story!  Life is wonderful like that sometimes.  One of the many great things about being a mustachian is that in the future, if you see an opportunity you'll be able to pay that gift forward to someone else, and make a big difference to them when they need it. 

@NotSoMustachian -- great job!  You're almost there.  :)   

Moonwaves

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Re: Saving to $10K
« Reply #1553 on: August 12, 2020, 02:11:57 AM »
BoI savings: 50.00
DiBa ETF: 2,088.97 (in January I commented that I had passed the 2,000 mark - since then I have invested 400 more, but am still just past the 2,000 mark. At least I don't seem to often dip below it very often anymore.)
CmzBank savings a/c: 3,200.00
Total:  +5,338.97

BoI savings: 20.00
DiBa ETF: 2,601.00
CmzBank savings a/c: 3,350.00
Total:  +5,971.00

Feeling very broke as my annual expenses and travel accounts are both down to almost nothing. But a lot of my annual expenses have to be paid at the end of July or start of August, and that's when my BahnCard* also has to be paid. Have to remember that that is the reason I have these accounts and is also the reason I don't count them in my total here. Those accounts will build up with their automatic deposits over the next few months until the next annual expenses are due. That's what they're there for!


* This is a card I buy annually, which gives me 50% off standard rail fares and about 25% off special offer prices. It costs 240 per year but between the savings on travel and the points collected, which can be redeemed for, among other things, free train tickets, I come out ahead by a few hundred euro every year. Except probably not this year but even so, on average, I will have saved more than I spend on it.
« Last Edit: August 12, 2020, 02:18:24 AM by Moonwaves »

mountain mustache

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Re: Saving to $10K
« Reply #1554 on: August 21, 2020, 07:06:51 AM »
Just trucking along. I'm hoping 3 more paychecks will graduate me from this thread!

05/01- $2382.02
05/15- $3627.00
05/29- $4443.54
06/12- $4819.10
06/26- $5000.00
07/10- $5520.67
07/24- $5232.52
08/07- $7963.03
08/21- $8856.79

Debts:
CC Debt @ 0% interest- $556.54
Regular daily use CCs (paid off in full every month) - $958.74

Assets:
Savings- $2547.88
Checking- $855
Car Savings- $667.40
Traditional IRA- $4289.42
401k- $2012.87

darknova306

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Re: Saving to $10K
« Reply #1555 on: August 29, 2020, 02:54:36 PM »
End of August update. The past two months have been pretty good for me on the savings front. I finally opened a high-yield savings account to put the bulk of my emergency fund into to start growing. My current financial plan has me paying off my final loan and building a six month emergency fund by August next year. It feels great to finally be seeing results!

Month       Net Worth
06/30/19 - ($15,856)
07/31/19 - ($15,582)
08/31/19 - ($15,289)
09/30/19 - ($14,461)
10/31/19 - ($12,966)
11/30/19 - ($10,829)
12/31/19 - ($10,285)
01/31/20 - ($9,457)
02/29/20 - ($8,865)
03/31/20 - ($9,040)
04/30/20 - ($6,366)
05/31/20 - ($4,051)
06/30/20 - ($1,545)
07/31/20 - $1,585
08/29/20 - $3,350

Trifele

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Re: Saving to $10K
« Reply #1556 on: August 30, 2020, 04:16:17 AM »
End of August update. The past two months have been pretty good for me on the savings front. I finally opened a high-yield savings account to put the bulk of my emergency fund into to start growing. My current financial plan has me paying off my final loan and building a six month emergency fund by August next year. It feels great to finally be seeing results!

Month       Net Worth
06/30/19 - ($15,856)
07/31/19 - ($15,582)
08/31/19 - ($15,289)
09/30/19 - ($14,461)
10/31/19 - ($12,966)
11/30/19 - ($10,829)
12/31/19 - ($10,285)
01/31/20 - ($9,457)
02/29/20 - ($8,865)
03/31/20 - ($9,040)
04/30/20 - ($6,366)
05/31/20 - ($4,051)
06/30/20 - ($1,545)
07/31/20 - $1,585
08/29/20 - $3,350

Great progress @darknova306!  Just look at how far you've come!
« Last Edit: August 30, 2020, 04:18:59 AM by Trifele »

Peaksandvalleys

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Re: Saving to $10K
« Reply #1557 on: September 03, 2020, 08:22:25 PM »
Been a few months since we posted, making steady progress but still a long way to go!

Student loans:
1/2020 (-214579.43)
2/2020 (-211582.61)
3/2020 (-207301.61)
4/2020 (-204914.65)
5/2020 (-202513.14)
6/2020 (-200181.89)
7/2020 (-197983.46)
8/2020 (-196029.22)

Net Worth:
1/2020 (-205328.66)
2/2020 (-199646.97)
3/2020 (-191659.76)
4/2020 (-186896.40)
5/2020 (-181513.10)
6/2020 (-178484.73)
7/2020 (-172077.14)
8/2020 (-168229.16)

ForeverPoor

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Re: Saving to $10K
« Reply #1558 on: September 03, 2020, 09:52:06 PM »
Bi-weekly update:

3/30/2019:
1. Broker: $2,004.04
2. 401k: $1,813.10 (22% contribution rate).

4/15/2019:
1. Broker 2,043.45 ($2,000 deposited, $43.45 gain)
2. 401k: $2,786.76 ($2,732 contributed, $54.76 gain)

Saved to date: $4,830.21 (48% towards goal).

Hi guys, been a long time since I posted in this thread but I had a kid last October and was extremely busy until recently. Wanted to provide an update and let everyone know that I've broken $40K saved ending Sept. 1st so technically speaking I've already graduated from this thread. Wanted to check in and also wish everyone else luck!

Dicey

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Re: Saving to $10K
« Reply #1559 on: September 04, 2020, 12:41:01 AM »
Bi-weekly update:

3/30/2019:
1. Broker: $2,004.04
2. 401k: $1,813.10 (22% contribution rate).

4/15/2019:
1. Broker 2,043.45 ($2,000 deposited, $43.45 gain)
2. 401k: $2,786.76 ($2,732 contributed, $54.76 gain)

Saved to date: $4,830.21 (48% towards goal).

Hi guys, been a long time since I posted in this thread but I had a kid last October and was extremely busy until recently. Wanted to provide an update and let everyone know that I've broken $40K saved ending Sept. 1st so technically speaking I've already graduated from this thread. Wanted to check in and also wish everyone else luck!
Congratulations on the baby and on turning your screen name into a misnomer!

Trifele

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Re: Saving to $10K
« Reply #1560 on: September 04, 2020, 02:54:32 AM »
Been a few months since we posted, making steady progress but still a long way to go!

Student loans:
1/2020 (-214579.43)
2/2020 (-211582.61)
3/2020 (-207301.61)
4/2020 (-204914.65)
5/2020 (-202513.14)
6/2020 (-200181.89)
7/2020 (-197983.46)
8/2020 (-196029.22)

Net Worth:
1/2020 (-205328.66)
2/2020 (-199646.97)
3/2020 (-191659.76)
4/2020 (-186896.40)
5/2020 (-181513.10)
6/2020 (-178484.73)
7/2020 (-172077.14)
8/2020 (-168229.16)

Nice steady progress @Peaksandvalleys!  Are you paying off student loans?

mckaylabaloney

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Re: Saving to $10K
« Reply #1561 on: September 04, 2020, 08:49:41 AM »
Congrats all around, @ForeverPoor!

Peaksandvalleys

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Re: Saving to $10K
« Reply #1562 on: September 04, 2020, 11:26:04 AM »
We are continuing to pay down the loans, they are currently privately held with an average rate ~3.75%. Not benefiting from the interest freeze as we refinanced early before all this started.

Been a few months since we posted, making steady progress but still a long way to go!

Student loans:
1/2020 (-214579.43)
2/2020 (-211582.61)
3/2020 (-207301.61)
4/2020 (-204914.65)
5/2020 (-202513.14)
6/2020 (-200181.89)
7/2020 (-197983.46)
8/2020 (-196029.22)

Net Worth:
1/2020 (-205328.66)
2/2020 (-199646.97)
3/2020 (-191659.76)
4/2020 (-186896.40)
5/2020 (-181513.10)
6/2020 (-178484.73)
7/2020 (-172077.14)
8/2020 (-168229.16)

Nice steady progress @Peaksandvalleys!  Are you paying off student loans?

DieHard_772

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Re: Saving to $10K
« Reply #1563 on: September 07, 2020, 02:29:48 PM »
Been a few months since we posted, making steady progress but still a long way to go!

Student loans:
1/2020 (-214579.43)
2/2020 (-211582.61)
3/2020 (-207301.61)
4/2020 (-204914.65)
5/2020 (-202513.14)
6/2020 (-200181.89)
7/2020 (-197983.46)
8/2020 (-196029.22)

Net Worth:
1/2020 (-205328.66)
2/2020 (-199646.97)
3/2020 (-191659.76)
4/2020 (-186896.40)
5/2020 (-181513.10)
6/2020 (-178484.73)
7/2020 (-172077.14)
8/2020 (-168229.16)

@Peaksandvalleys I applaud your progress.  Paying off over $200k in student loans is no
small feat...

Trifele

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Re: Saving to $10K
« Reply #1564 on: October 01, 2020, 03:50:45 AM »
And we turn the page on a new month!  How is everyone doing?

darknova306

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Re: Saving to $10K
« Reply #1565 on: October 02, 2020, 05:49:28 AM »
Well, September had some major budgeted expenses, like vehicle insurance, etc. With that and the markets dipping, September wasn't as good a month as I'd like, but I'm still hoping to hit $10K by the end of 2020. Either way, progress feels good!

Month       Net Worth
06/30/19 - ($15,856)
07/31/19 - ($15,582)
08/31/19 - ($15,289)
09/30/19 - ($14,461)
10/31/19 - ($12,966)
11/30/19 - ($10,829)
12/31/19 - ($10,285)
01/31/20 - ($9,457)
02/29/20 - ($8,865)
03/31/20 - ($9,040)
04/30/20 - ($6,366)
05/31/20 - ($4,051)
06/30/20 - ($1,545)
07/31/20 - $1,585
08/29/20 - $3,350
09/30/20 - $4,245

Moonwaves

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Re: Saving to $10K
« Reply #1566 on: October 02, 2020, 06:44:15 AM »
Still a great month dn306!

I have been not looking after my financial life properly at all. Have invoices to write for side-gig work I did in July and September and, well, basically have spent that money already. Very odd feeling, I haven't been this careless with money for a long, long time. Plan to get those invoices out at the weekend and clear the overdraft.

In the meantime, at least my standard savings have been continuing to head off to their allocated pots.

BoI savings: 20.00
DiBa ETF: 2,601.00
CmzBank savings a/c: 3,350.00
Total:  +5,971.00

BoI savings: 20.00
DiBa ETF: 2,787.57
CmzBank savings a/c: 3,450.00
Total:  +6,257,57

mountain mustache

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Re: Saving to $10K
« Reply #1567 on: October 02, 2020, 07:45:42 AM »
Today is the day I graduate from this thread! Ok, I actually hit this last week when I sold my race mountain bike for $6,000, but I wanted to wait until an official payday to tally everything up. I haven't moved money around from checking to CCs and Savings yet, so the rest of my debt will be gone in a few days once I sit down and pay it.

05/01- $2382.02
05/15- $3627.00
05/29- $4443.54
06/12- $4819.10
06/26- $5000.00
07/10- $5520.67
07/24- $5232.52
08/07- $7963.03
08/21- $8856.79
10/02- $14836.49

Debts:
CC Debt @ 0% interest- $515.00
Regular daily use CCs (paid off in full every month) - $1205.76

Assets:
Savings- $2704.00
Checking- $6250.00
Car Savings- $868.11
Traditional IRA- $4304.83
401k- $2429.00

Trifele

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Re: Saving to $10K
« Reply #1568 on: October 03, 2020, 03:46:11 AM »
Congratulations @mountain mustache !!!   So fantastic that you get to cross the 10k mark and go debt-free!  Those are a couple of really sweet milestones.  The momentum is yours now.  Go for it!


                                                                   

 

mckaylabaloney

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Re: Saving to $10K
« Reply #1569 on: October 05, 2020, 07:44:35 AM »
Way to go @mountain mustache!!

regenaeb

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Re: Saving to $10K
« Reply #1570 on: October 21, 2020, 03:23:58 PM »
Joining you all so I can keep myself even more accountable for my spending. I am only listing my personal goal of getting my net worth to $10k (to start). Hubby and I have combined assets that he calculates our combined net worth each month, but this is more for me since I am working on getting my student loan debt finally paid off. Been working really hard on this since the new year. Originally I had planned to pay this off by May of 2022. But since Covid and we cannot go anywhere or pretty much do anything fun, I have extra money each month that I have been throwing on my loan and am really making a dent in it this year. Going to post my original starting point in May since my retirement account was sold to Schwab and I cannot access my old statements right now from USAA.

5/30/20 - SEP Balance $ 9978.42 + Roth $ 1351.05 - Student loan balance $ 12935.98 = ($ 1606.51)
6/30/20 - SEP Balance $ 10832.73 + Roth $ 1508.90 - Student loan balance $ 12356.80 = ($ 15.17)
7/31/20 - SEP Balance $ 11603.18 + Roth $ 1508.90 - Student loan balance $ 11772.61 = $ 1339.47
8/31/20 - SEP Balance $ 12893.54 + Roth $ 1508.90 - Student loan balance $ 11188.88 = $ 3213.56
9/30/20 - SEP Balance $ 12959.91 + Roth $ 1602.40 - Student loan balance $ 9975.16 = $ 4587.15

So I am not sure why, but my Roth didn't do a statement for me from July and August for some reason, will have to investigate that one. September was not so great for my SEP account apparently, but made a big student loan payment last month that made up for the investment account dive. Can't wait to update at the end of the month, about to make another big student loan payment tomorrow. Investments are up and down most days, but it usually ends up being a plus at the end of the month because of my weekly contributions.

Trifele

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Re: Saving to $10K
« Reply #1571 on: October 23, 2020, 04:25:56 AM »
Joining you all so I can keep myself even more accountable for my spending.

Welcome!  :)

paulkots

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Re: Saving to $10K
« Reply #1572 on: October 23, 2020, 09:16:59 AM »
12/17/19: $21,427.67
01/26/20: $17,755.45
05/06/20: $13,179.59
05/08/20: $9,994.39
06/01/20: $8,018.36
06/29/20: $4,370.98
07/21/2020: $1,499.88

Finished just a bit earlier since my check showed up earlier and also sold a few things I didn't need on eBay. Birthday also helped since a few people didn't want to go shopping so they gave cash.

Saving to $10k will slow down, quarterly taxes are due September so I need fund that account.

10/23/2020: $8,269.88

Numbers look better than they are. Still need to pay quarterly taxes, I am behind with Roth IRA and both house taxes and insurance is coming up next month.

regenaeb

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Re: Saving to $10K
« Reply #1573 on: October 30, 2020, 10:44:37 AM »
5/30/20 - SEP Balance $ 9978.42 + Roth $ 1351.05 - Student loan balance $ 12935.98 = ($ 1606.51)
6/30/20 - SEP Balance $ 10832.73 + Roth $ 1508.90 - Student loan balance $ 12356.80 = ($ 15.17)
7/31/20 - SEP Balance $ 11603.18 + Roth $ 1508.90 - Student loan balance $ 11772.61 = $ 1339.47
8/31/20 - SEP Balance $ 12893.54 + Roth $ 1508.90 - Student loan balance $ 11188.88 = $ 3213.56
9/30/20 - SEP Balance $ 12959.91 + Roth $ 1602.40 - Student loan balance $ 9975.16 = $ 4587.15
10/30/20 - SEP Balance $ 13277.71 + Roth $ 1577.77 - Student loan balance $ 7487.82 = $ 7367.66

Getting closer. Had a great month working extra hours and dumping $2500 on my student loan.

darknova306

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Re: Saving to $10K
« Reply #1574 on: October 31, 2020, 12:40:31 PM »
October was a pretty good month for me, despite the market tanking lately. Might not hit $10K by the end of this year, but the constant progress feels great!

Month       Net Worth
06/30/19 - ($15,856)
07/31/19 - ($15,582)
08/31/19 - ($15,289)
09/30/19 - ($14,461)
10/31/19 - ($12,966)
11/30/19 - ($10,829)
12/31/19 - ($10,285)
01/31/20 - ($9,457)
02/29/20 - ($8,865)
03/31/20 - ($9,040)
04/30/20 - ($6,366)
05/31/20 - ($4,051)
06/30/20 - ($1,545)
07/31/20 - $1,585
08/29/20 - $3,350
09/30/20 - $4,245
10/31/20 - $6,168

SwordGuy

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Re: Saving to $10K
« Reply #1575 on: October 31, 2020, 01:56:15 PM »
Every time I come check out this thread it makes me happy.

Getting from negative to 10K net worth is such a major life situation change!

$5-10K in savings is enough to get past a whole lot of life's dammits that occasionally come one's way.   Instead of a dire emergency those dammits are down to a nuisance.   That's so important.

It's enough to establish and reward the habits that will build real wealth after $10K is reached.

Yeah, all of you!

TyGuy

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Re: Saving to $10K
« Reply #1576 on: November 10, 2020, 05:43:50 PM »
October was a pretty good month for me, despite the market tanking lately. Might not hit $10K by the end of this year, but the constant progress feels great!

Month       Net Worth
06/30/19 - ($15,856)
07/31/19 - ($15,582)
08/31/19 - ($15,289)
09/30/19 - ($14,461)
10/31/19 - ($12,966)
11/30/19 - ($10,829)
12/31/19 - ($10,285)
01/31/20 - ($9,457)
02/29/20 - ($8,865)
03/31/20 - ($9,040)
04/30/20 - ($6,366)
05/31/20 - ($4,051)
06/30/20 - ($1,545)
07/31/20 - $1,585
08/29/20 - $3,350
09/30/20 - $4,245
10/31/20 - $6,168

Keep it up, you'll be graduated from this thread by early next year!

DieHard_772

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Re: Saving to $10K
« Reply #1577 on: November 15, 2020, 08:47:27 AM »
Every time I come check out this thread it makes me happy.

Getting from negative to 10K net worth is such a major life situation change!

$5-10K in savings is enough to get past a whole lot of life's dammits that occasionally come one's way.   Instead of a dire emergency those dammits are down to a nuisance.   That's so important.

It's enough to establish and reward the habits that will build real wealth after $10K is reached.

Yeah, all of you!

@SwordGuy that's awesome.  I agree about the savings cushion:
It's amazing how a comparatively small thing can make such a huge difference.

paulkots

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Re: Saving to $10K
« Reply #1578 on: November 23, 2020, 06:40:13 PM »
12/17/19: $21,427.67
01/26/20: $17,755.45
05/06/20: $13,179.59
05/08/20: $9,994.39
06/01/20: $8,018.36
06/29/20: $4,370.98
07/21/2020: $1,499.88
10/23/2020: $8,269.88

Numbers look better than they are. Still need to pay quarterly taxes, I am behind with Roth IRA and both house taxes and insurance is coming up next month.

11/23/2020: $4,556.60

Had a frugal month so I was about to catch up with some expenses.
« Last Edit: November 23, 2020, 06:47:43 PM by paulkots »

regenaeb

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Re: Saving to $10K
« Reply #1579 on: November 30, 2020, 02:44:33 PM »
5/30/20 - SEP Balance $ 9978.42 + Roth $ 1351.05 - Student loan balance $ 12935.98 = ($ 1606.51)
6/30/20 - SEP Balance $ 10832.73 + Roth $ 1508.90 - Student loan balance $ 12356.80 = ($ 15.17)
7/31/20 - SEP Balance $ 11603.18 + Roth $ 1508.90 - Student loan balance $ 11772.61 = $ 1339.47
8/31/20 - SEP Balance $ 12893.54 + Roth $ 1508.90 - Student loan balance $ 11188.88 = $ 3213.56
9/30/20 - SEP Balance $ 12959.91 + Roth $ 1602.40 - Student loan balance $ 9975.16 = $ 4587.15
10/31/20 - SEP Balance $ 13277.71 + Roth $ 1577.77 - Student loan balance $ 7487.82 = $ 7367.66
11/30/20 - SEP Balance $ 15524.45 + Roth $ 1770.76 - Student loan balance $ 6897.45 = $ 10,397.76

Well looks like I am graduating from this group. Had a good month in the market and adding more to my SEP weekly, put me over the $10k line. Hope to see you all soon in the race from 10K to 100K.

Imma

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Re: Saving to $10K
« Reply #1580 on: November 30, 2020, 03:09:45 PM »
Well done @regenaeb ! See you in the next thread!

Trifele

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Re: Saving to $10K
« Reply #1581 on: December 01, 2020, 01:15:40 AM »
5/30/20 - SEP Balance $ 9978.42 + Roth $ 1351.05 - Student loan balance $ 12935.98 = ($ 1606.51)
6/30/20 - SEP Balance $ 10832.73 + Roth $ 1508.90 - Student loan balance $ 12356.80 = ($ 15.17)
7/31/20 - SEP Balance $ 11603.18 + Roth $ 1508.90 - Student loan balance $ 11772.61 = $ 1339.47
8/31/20 - SEP Balance $ 12893.54 + Roth $ 1508.90 - Student loan balance $ 11188.88 = $ 3213.56
9/30/20 - SEP Balance $ 12959.91 + Roth $ 1602.40 - Student loan balance $ 9975.16 = $ 4587.15
10/31/20 - SEP Balance $ 13277.71 + Roth $ 1577.77 - Student loan balance $ 7487.82 = $ 7367.66
11/30/20 - SEP Balance $ 15524.45 + Roth $ 1770.76 - Student loan balance $ 6897.45 = $ 10,397.76

Well looks like I am graduating from this group. Had a good month in the market and adding more to my SEP weekly, put me over the $10k line. Hope to see you all soon in the race from 10K to 100K.

Great job @regenaeb!  Onward! 

Moonwaves

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Re: Saving to $10K
« Reply #1582 on: December 01, 2020, 02:09:26 AM »
Well done regenaeb!

I have been spending like there's no tomorrow. We get a bonus/extra payment in November and up until a couple of weeks ago I was planning on saving it. Instead I have bought new boots, a few things for the house (that have been on the list for a long time but that I could easily have lived without for another while), some fancy wool and other craft supplies, food from the English foods shop (expensive because it's stuff that's normally not sold here). All this on top of being a bit careless with money in general over the past few month. I've been using my credit card and procrastinating on issuing invoices, which is the most ridiculous I have been with money for a very long time. Anyway, that's all on 0% at the moment and I've written and sent invoices and will be able to clear it when that money arrives.

BoI savings: 50.00
DiBa ETF: 2,088.97 (in January I commented that I had passed the 2,000 mark - since then I have invested 400 more, but am still just past the 2,000 mark. At least I don't seem to often dip below it very often anymore.)
CmzBank savings a/c: 3,200.00
Total:  +5,338.97

I can't quite believe it has been almost five months since I posted a numbers update. March and April were admittedly very skewy in terms of what time felt like. The numbers are going down rather than up but that is life at the moment. I took a big leap of faith and the somewhat unMustachian step of renting a second small studio apartment. This will serve as my office but also as storage to allow me to make my living space less cramped and full of stuff so that, hopefully, the mental health boost will be significant. I've taken money from savings to pay the deposit, etc. As I will be using it as an office, I will be able to set off most of the costs from taxes on my side-income so that is something. I want to get a few plants but otherwise don't plan on spending any money on the new place - I may need to get a WiFi extender of some kind but it is on the same floor as my current apartment so I should be able to get away with that without needing to pay for a second internet connection.

Of course, despite continuing to save monthly into my ETF plans, the market dropping means that it mostly feels like I've been treading water there. But we keep on keeping on, because that's what we do around here.
Really, what happened is that I never quite wrapped my head around adjusting my budget to account for the new studio/office rent so there was a bit of a drip, drip, drip of spending that should have been reined in to compensate for the new expenses but wasn't. So, to get back on track, even though/especially because it's December, when it's very easy to spend a lot of money, I forked out for the full version of goodbuget and spent some time setting that up last week. I tried it before about a year ago but never fully figured it out. It's based on the envelope system which worked well for me years ago. So far, one day into the new month, it's going well. I need to get my head in the game again. In the meantime, my normal small contributions to ETF and savings have continued - that's something at least.

BoI savings: 5.00
DiBa ETF: 3,149.35
CmzBank savings a/c: 3,500.00
Total:  +6,654.35

Trifele

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Re: Saving to $10K
« Reply #1583 on: December 01, 2020, 02:15:43 AM »
Good thoughtful update @Moonwaves.  If you keep examining your spending and exercising your frugality muscles you will get there.  And we'll be here to cheer you as you cross the finish line of the thread!

darknova306

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Re: Saving to $10K
« Reply #1584 on: December 01, 2020, 11:10:13 AM »
November was a pretty good month, so I'm getting really close! December will likely be a bit tighter for me, mainly due to some vehicle repairs, but I should cross the $10K threshold early next year!

Month       Net Worth
06/30/19 - ($15,856)
07/31/19 - ($15,582)
08/31/19 - ($15,289)
09/30/19 - ($14,461)
10/31/19 - ($12,966)
11/30/19 - ($10,829)
12/31/19 - ($10,285)
01/31/20 - ($9,457)
02/29/20 - ($8,865)
03/31/20 - ($9,040)
04/30/20 - ($6,366)
05/31/20 - ($4,051)
06/30/20 - ($1,545)
07/31/20 - $1,585
08/29/20 - $3,350
09/30/20 - $4,245
10/31/20 - $6,168
11/30/20 - $8,026

Peaksandvalleys

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Re: Saving to $10K
« Reply #1585 on: December 03, 2020, 10:10:07 PM »
Student loans:
1/2020 (-214579.43)
2/2020 (-211582.61)
3/2020 (-207301.61)
4/2020 (-204914.65)
5/2020 (-202513.14)
6/2020 (-200181.89)
7/2020 (-197983.46)
8/2020 (-196029.22)
9/2020 (-194058.61)
10/2020 (-192182.33)
11/2020 (-190229.11)

Net Worth:
1/2020 (-205328.66)
2/2020 (-199646.97)
3/2020 (-191659.76)
4/2020 (-186896.40)
5/2020 (-181513.10)
6/2020 (-178484.73)
7/2020 (-172077.14)
8/2020 (-168229.16)
9/2020 (-164226.67)
10/2020 (-158892.28)
11/2020 (-151654.07)


Making slow progress, will post back in several months

Dicey

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Re: Saving to $10K
« Reply #1586 on: December 03, 2020, 10:16:05 PM »
Student loans:
1/2020 (-214579.43)
2/2020 (-211582.61)
3/2020 (-207301.61)
4/2020 (-204914.65)
5/2020 (-202513.14)
6/2020 (-200181.89)
7/2020 (-197983.46)
8/2020 (-196029.22)
9/2020 (-194058.61)
10/2020 (-192182.33)
11/2020 (-190229.11)

Net Worth:
1/2020 (-205328.66)
2/2020 (-199646.97)
3/2020 (-191659.76)
4/2020 (-186896.40)
5/2020 (-181513.10)
6/2020 (-178484.73)
7/2020 (-172077.14)
8/2020 (-168229.16)
9/2020 (-164226.67)
10/2020 (-158892.28)
11/2020 (-151654.07)


Making slow progress, will post back in several months
If I'm reading this correctly, that's actually pretty darn good progress, especially during a pandemic!

Imma

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Re: Saving to $10K
« Reply #1587 on: December 04, 2020, 08:35:02 AM »
Student loans:
1/2020 (-214579.43)
2/2020 (-211582.61)
3/2020 (-207301.61)
4/2020 (-204914.65)
5/2020 (-202513.14)
6/2020 (-200181.89)
7/2020 (-197983.46)
8/2020 (-196029.22)
9/2020 (-194058.61)
10/2020 (-192182.33)
11/2020 (-190229.11)

Net Worth:
1/2020 (-205328.66)
2/2020 (-199646.97)
3/2020 (-191659.76)
4/2020 (-186896.40)
5/2020 (-181513.10)
6/2020 (-178484.73)
7/2020 (-172077.14)
8/2020 (-168229.16)
9/2020 (-164226.67)
10/2020 (-158892.28)
11/2020 (-151654.07)


Making slow progress, will post back in several months
If I'm reading this correctly, that's actually pretty darn good progress, especially during a pandemic!

Yes, you are doing great!!! You increased your net worth by $55000 in 11 months! That's more than many people earn in a month, let alone save. You're doing fine.

@Moonwaves good to see an update from you as well. It's a strange time. I can't blame you for buying a few craft supplies and some food from home. You're still moving in the right direction and we all need to find a way to cope with the pandemic.

TyGuy

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Re: Saving to $10K
« Reply #1588 on: December 06, 2020, 12:50:15 PM »
Student loans:
1/2020 (-214579.43)
2/2020 (-211582.61)
3/2020 (-207301.61)
4/2020 (-204914.65)
5/2020 (-202513.14)
6/2020 (-200181.89)
7/2020 (-197983.46)
8/2020 (-196029.22)
9/2020 (-194058.61)
10/2020 (-192182.33)
11/2020 (-190229.11)

Net Worth:
1/2020 (-205328.66)
2/2020 (-199646.97)
3/2020 (-191659.76)
4/2020 (-186896.40)
5/2020 (-181513.10)
6/2020 (-178484.73)
7/2020 (-172077.14)
8/2020 (-168229.16)
9/2020 (-164226.67)
10/2020 (-158892.28)
11/2020 (-151654.07)


Making slow progress, will post back in several months
Slow!?! You're progress has been incredible thus far! Your net worth will have increased close to 60K this year, even while fighting a negative interest rate. Keep it up!!

Trifele

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Re: Saving to $10K
« Reply #1589 on: December 07, 2020, 04:19:54 AM »
Student loans:
1/2020 (-214579.43)
2/2020 (-211582.61)
3/2020 (-207301.61)
4/2020 (-204914.65)
5/2020 (-202513.14)
6/2020 (-200181.89)
7/2020 (-197983.46)
8/2020 (-196029.22)
9/2020 (-194058.61)
10/2020 (-192182.33)
11/2020 (-190229.11)

Net Worth:
1/2020 (-205328.66)
2/2020 (-199646.97)
3/2020 (-191659.76)
4/2020 (-186896.40)
5/2020 (-181513.10)
6/2020 (-178484.73)
7/2020 (-172077.14)
8/2020 (-168229.16)
9/2020 (-164226.67)
10/2020 (-158892.28)
11/2020 (-151654.07)


Making slow progress, will post back in several months
Slow!?! You're progress has been incredible thus far! Your net worth will have increased close to 60K this year, even while fighting a negative interest rate. Keep it up!!

+1.  You're killing it @Peaksandvalleys!  There are quite a few of us on the forum who started way in the negative, and that climb to zero is tough.   Paging @mckaylabaloney, a recent grad of this thread, for her thoughts!

mckaylabaloney

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Re: Saving to $10K
« Reply #1590 on: December 07, 2020, 08:39:45 AM »
You're killing it @Peaksandvalleys!  There are quite a few of us on the forum who started way in the negative, and that climb to zero is tough.   Paging @mckaylabaloney, a recent grad of this thread, for her thoughts!

Helloooo here I am! @Peaksandvalleys I was in a very similar position a few years ago. I graduated from law school in 2014 with approx. $225k in debt and no assets other than $5k in a Roth IRA. I made almost no progress for the first three years of my career (when I was making a low government salary and not paying a ton of attention to my finances) and then kicked things into gear when I started working for a law firm near the end of 2017 (I was about $198k in the hole at that time). I decided to prioritize maxing out my tax-advantaged retirement accounts over paying extra on my student loans -- which I wavered on many times for the first year or two, since I desperately wanted to be done with my student loans as soon as possible. However, I knew that slowing down my loan payments in favor of tax-advantaged saving would benefit me in the long run, and I am already starting to see the benefits of that. I still have about $115k in student loans, but after just three years of maxing out my tax-advantaged accounts (plus three more years of sub-max contributions to my Roth IRA) I also have $143k+ saved for retirement, and you'll see in my recent post history that even that modest amount -- which does not feel very big, compared to my goals -- is now earning gains of $10k+ in good months. It is wild to see compound interest in action and to know that this is really just the beginning.

All this to say -- I acutely remember being six figures in the hole (not long ago!) and feeling like it would take me an eternity to climb out. Spoiler alert: it didn't! And I was moving at a similar monthly pace for most of that time -- I know $5-7kish per month doesn't feel like much, relative to your goals, but it's so, so much. You're doing great. And in a couple years you'll look back and be amazed at how much progress you've made.

DieHard_772

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Re: Saving to $10K
« Reply #1591 on: December 10, 2020, 12:35:29 PM »
You're killing it @Peaksandvalleys!  There are quite a few of us on the forum who started way in the negative, and that climb to zero is tough.   Paging @mckaylabaloney, a recent grad of this thread, for her thoughts!

Helloooo here I am! @Peaksandvalleys I was in a very similar position a few years ago. I graduated from law school in 2014 with approx. $225k in debt and no assets other than $5k in a Roth IRA. I made almost no progress for the first three years of my career (when I was making a low government salary and not paying a ton of attention to my finances) and then kicked things into gear when I started working for a law firm near the end of 2017 (I was about $198k in the hole at that time). I decided to prioritize maxing out my tax-advantaged retirement accounts over paying extra on my student loans -- which I wavered on many times for the first year or two, since I desperately wanted to be done with my student loans as soon as possible. However, I knew that slowing down my loan payments in favor of tax-advantaged saving would benefit me in the long run, and I am already starting to see the benefits of that. I still have about $115k in student loans, but after just three years of maxing out my tax-advantaged accounts (plus three more years of sub-max contributions to my Roth IRA) I also have $143k+ saved for retirement, and you'll see in my recent post history that even that modest amount -- which does not feel very big, compared to my goals -- is now earning gains of $10k+ in good months. It is wild to see compound interest in action and to know that this is really just the beginning.

All this to say -- I acutely remember being six figures in the hole (not long ago!) and feeling like it would take me an eternity to climb out. Spoiler alert: it didn't! And I was moving at a similar monthly pace for most of that time -- I know $5-7kish per month doesn't feel like much, relative to your goals, but it's so, so much. You're doing great. And in a couple years you'll look back and be amazed at how much progress you've made.

Excellent post, @mckaylabaloney.  Personally, I felt like I was in a bottomless pit of debt---15+ years without much progress.  It wasn't so much the amount of money (probably less than $20k), it was my MENTALITY.  I got serious about paying that off, and simultaneously started investing.  Now my wife and I are debt-free with a growing net worth nearing six figures.

I also love what you said about your portfolio able to gain $10k in good month. It was amazing in the last few weeks to see that even a 1% gain in our portfolio is over $500 growth. 

This is just the beginning!

Peaksandvalleys

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Re: Saving to $10K
« Reply #1592 on: December 11, 2020, 09:31:26 PM »
You're killing it @Peaksandvalleys!  There are quite a few of us on the forum who started way in the negative, and that climb to zero is tough.   Paging @mckaylabaloney, a recent grad of this thread, for her thoughts!

Helloooo here I am! @Peaksandvalleys I was in a very similar position a few years ago. I graduated from law school in 2014 with approx. $225k in debt and no assets other than $5k in a Roth IRA. I made almost no progress for the first three years of my career (when I was making a low government salary and not paying a ton of attention to my finances) and then kicked things into gear when I started working for a law firm near the end of 2017 (I was about $198k in the hole at that time). I decided to prioritize maxing out my tax-advantaged retirement accounts over paying extra on my student loans -- which I wavered on many times for the first year or two, since I desperately wanted to be done with my student loans as soon as possible. However, I knew that slowing down my loan payments in favor of tax-advantaged saving would benefit me in the long run, and I am already starting to see the benefits of that. I still have about $115k in student loans, but after just three years of maxing out my tax-advantaged accounts (plus three more years of sub-max contributions to my Roth IRA) I also have $143k+ saved for retirement, and you'll see in my recent post history that even that modest amount -- which does not feel very big, compared to my goals -- is now earning gains of $10k+ in good months. It is wild to see compound interest in action and to know that this is really just the beginning.

All this to say -- I acutely remember being six figures in the hole (not long ago!) and feeling like it would take me an eternity to climb out. Spoiler alert: it didn't! And I was moving at a similar monthly pace for most of that time -- I know $5-7kish per month doesn't feel like much, relative to your goals, but it's so, so much. You're doing great. And in a couple years you'll look back and be amazed at how much progress you've made.

Excellent post, @mckaylabaloney.  Personally, I felt like I was in a bottomless pit of debt---15+ years without much progress.  It wasn't so much the amount of money (probably less than $20k), it was my MENTALITY.  I got serious about paying that off, and simultaneously started investing.  Now my wife and I are debt-free with a growing net worth nearing six figures.

I also love what you said about your portfolio able to gain $10k in good month. It was amazing in the last few weeks to see that even a 1% gain in our portfolio is over $500 growth. 

This is just the beginning!

Thank you all! It is such a positive motivator to read your encouragement and successes. At our stage, it just feels like an insurmountable climb back to zero net worth as we know it will take at least a couple more years.
However, looking back over the past 12 months we are super proud of the progress we've been able to make, finally have momentum going to the right direction. Speaks to the power of a sound financial plan and budget. Shout out to MMM and YNAB.

You all are the best,
-P

paulkots

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Re: Saving to $10K
« Reply #1593 on: December 23, 2020, 07:33:53 AM »
12/17/19: $21,427.67
01/26/20: $17,755.45
05/06/20: $13,179.59
05/08/20: $9,994.39
06/01/20: $8,018.36
06/29/20: $4,370.98
07/21/2020: $1,499.88
10/23/2020: $8,269.88
11/23/2020: $4,556.60

Had a frugal month so I was about to catch up with some expenses.

12/23/2020: $10,332.95

Another frugal month and Christmas bonus really helped. Food and gifts have all been bought for Christmas and New Years. To save on alcohol expense, I decided to make glintvein since all it takes is cheap wine(Aldi $3) and cheap brandy($6). Everyone loves it since it tastes Christmasi. Unless something happens, I should be onto the $10k+ thread next month.

Trifele

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Re: Saving to $10K
« Reply #1594 on: December 23, 2020, 12:43:03 PM »
12/17/19: $21,427.67
01/26/20: $17,755.45
05/06/20: $13,179.59
05/08/20: $9,994.39
06/01/20: $8,018.36
06/29/20: $4,370.98
07/21/2020: $1,499.88
10/23/2020: $8,269.88
11/23/2020: $4,556.60

Had a frugal month so I was about to catch up with some expenses.

12/23/2020: $10,332.95

Another frugal month and Christmas bonus really helped. Food and gifts have all been bought for Christmas and New Years. To save on alcohol expense, I decided to make glintvein since all it takes is cheap wine(Aldi $3) and cheap brandy($6). Everyone loves it since it tastes Christmasi. Unless something happens, I should be onto the $10k+ thread next month.

Hey hey @paulkots !!  CONGRATS and well done!!

rebel_quietude

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Re: Saving to $10K
« Reply #1595 on: December 23, 2020, 01:10:45 PM »
Woohoo, @paulkots ! That's awesome!

I feel like this may be the most important race thread on this forum. This is where the magic begins . . .

Tigerpine

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Re: Saving to $10K
« Reply #1596 on: December 23, 2020, 01:14:35 PM »
Congratulations, paulkots!

Getting into positive net worth territory is a great milestone!  You're building the foundation that will support the rest of your FIRE journey.  Good job!

IrishFI

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Re: Saving to $10K
« Reply #1597 on: December 30, 2020, 02:10:22 AM »
So 2020 has been a good year savings wise and I've reached the 10k milestone.

30/12/2020 - 10,909

Hopefully I can keep up this momentum for the long haul. Good luck everyone.

Trifele

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Re: Saving to $10K
« Reply #1598 on: December 30, 2020, 02:33:49 AM »
So 2020 has been a good year savings wise and I've reached the 10k milestone.

30/12/2020 - 10,909

Hopefully I can keep up this momentum for the long haul. Good luck everyone.

YEAH @IrishFI !!  Great job and good luck in the 10-100k thread!!

Moonwaves

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Re: Saving to $10K
« Reply #1599 on: December 30, 2020, 02:59:39 AM »
Congratulations, that's a great way to start the new year!

I'm getting back on track and have spent some time over December getting acquainted with the Good Budget app (that I installed about a year ago and promptly ignored after about an hour.) I'm all set up now and will be using that instead of my old spreadsheet to track day-to-day stuff. At some stage during the year I'll need to re-work my old spreadsheet (or create a new one) to keep track of the bigger stuff. For now, I've just gotten paid and have allocated my money to all the different fixed expenses and savings pots and it is immediately clear why I was starting to fall into old credit card/overdraft habits. My discretionary spending really is coming from my sidegig income now and I need to remember that. The small amount I have after fixed expenses and savings is enough for food (on a strict budget) for the month and that's it.

Here's wishing everyone a great year of saving in 2021!
« Last Edit: December 30, 2020, 03:33:35 AM by Moonwaves »