Author Topic: Saving to $10K  (Read 328601 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 »