Saving to $10K

[TexasRunner]

Allright so I'm in. 
...
Current status (Mid December):
Total Net Worth:  +$33,532.94
Liquid Net Worth:  ($7929.52) (Due to student loans, CC debt that needs to get pummeled, and stupidly not building enough of a emergency fund).

Goal by September 2018 (these specifically because it would be 6 full months of FU money without hitting the retirement accounts): 
Total Net Worth: +$61,287.35
Liquid Net Worth: +$19,824.89
Which would make me a 10k liquid net worth cohort of March/April 2018.

Yes, I know I am technically already a graduate...  But the net worth is at risk because it is largely tied up in equity.  FU money is present but lacking compared to CC debt which is very much hitting a hair-on-fire issue. 

(End of December)
Current status:
Total Net Worth:  +$36,923.43
Liquid Net Worth:  ($4,711.27) (Due to student loans, CC debt that needs to get pummeled, and stupidly not building enough of a emergency fund).

(End of January)
Current status:
Total Net Worth:  +$38,756.52
Liquid Net Worth:  ($3,001.77)
Days Bought:  26.47

Its an additional +$1,833.09 to the net worth and an additional +$1,709.50 net worth not tied up in equity.

(End of February)
Current status:
Total Net Worth:  +$41,284.49
Liquid Net Worth:  ($699.85) UNDER 4 DIGITS!  YAY!!!!
Days Bought:  28.18

Its an additional +$2,527.97 to the net worth and an additional +$2,301.92 net worth not tied up in equity. And an additional 1.71 days 'bought'.

Man, its crazy how well this stuff works.  Keep it up guys!!!!

[M5]

We were recently above 10k, but decided it was silly to keep paying interest on debt while we had money available. So, we start over and now there's nowhere to go but up! The only debt we have is on our rental property, we don't own our primary residence. Only including investments, rental house equity in our NW calculations.

2/1/18 - $5,047.07

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

2/15/18: $6,186.39

3/1/18: $7,200.41

[Spruit]

Nice to see everyone moving in the right direction. We'll get there!

[lexde]

@texasrunner — you’re so close!!


Sent from my iPhone using Tapatalk

[TexasRunner]

@TexasRunner — you’re so close!!

I know!  I might have to do a mid-March update just to get to liquid positive.  :)

I had been just doing end-of-month updates for brevity.

[Moonwaves]

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

BoI savings a/c: 70.00
DiBa ETF: 538.03
CmzBank savings a/c: 700.00
Total:  1,308.03

My two annual expenses accounts (which I don't count in the above) now stand at 900 and 400 respectively. 400 is the account earmarked for travel and will definitely be used soon. My next big annual expense is coming up next month but I think I can swing it that I just pay directly for that without needing to touch the savings. I'd really like to add another 100 to that account and then try to always keep it at 1,000 minimum. Just as an extra bit of security. As soon as my next invoices are paid, I'm going to throw 300 at my actual emergency fund so that that is also sitting at 1,000. And then I'll be focusing a bit more on padding my travel account, which I'm going to need a lot this year.

[Manchester]

Allright so I'm in. 
...
Current status (Mid December):
Total Net Worth:  +$33,532.94
Liquid Net Worth:  ($7929.52) (Due to student loans, CC debt that needs to get pummeled, and stupidly not building enough of a emergency fund).

Goal by September 2018 (these specifically because it would be 6 full months of FU money without hitting the retirement accounts): 
Total Net Worth: +$61,287.35
Liquid Net Worth: +$19,824.89
Which would make me a 10k liquid net worth cohort of March/April 2018.

Yes, I know I am technically already a graduate...  But the net worth is at risk because it is largely tied up in equity.  FU money is present but lacking compared to CC debt which is very much hitting a hair-on-fire issue. 

(End of December)
Current status:
Total Net Worth:  +$36,923.43
Liquid Net Worth:  ($4,711.27) (Due to student loans, CC debt that needs to get pummeled, and stupidly not building enough of a emergency fund).

(End of January)
Current status:
Total Net Worth:  +$38,756.52
Liquid Net Worth:  ($3,001.77)
Days Bought:  26.47

Its an additional +$1,833.09 to the net worth and an additional +$1,709.50 net worth not tied up in equity.

(End of February)
Current status:
Total Net Worth:  +$41,284.49
Liquid Net Worth:  ($699.85) UNDER 4 DIGITS!  YAY!!!!
Days Bought:  28.18

Its an additional +$2,527.97 to the net worth and an additional +$2,301.92 net worth not tied up in equity. And an additional 1.71 days 'bought'.

Man, its crazy how well this stuff works.  Keep it up guys!!!!

Way to go!  You're having consistently good months so far.  If you keep it up your liquid NW is going to be over $10k in no time. 

[TexasRunner]

Way to go!  You're having consistently good months so far.  If you keep it up your liquid NW is going to be over $10k in no time.

Thanks!  It's going to be a relief because that would also mean I have enough FU money to go about 6 months without any other income.  That means I would have enough time to find another awesome job or get my side hustle up to full time.

This forum's been great.  Really wish this kind of stuff was taught in schools.  I might just have to do that for my local school.

:)

[Manchester]

Way to go!  You're having consistently good months so far.  If you keep it up your liquid NW is going to be over $10k in no time.

Thanks!  It's going to be a relief because that would also mean I have enough FU money to go about 6 months without any other income.  That means I would have enough time to find another awesome job or get my side hustle up to full time.

This forum's been great.  Really wish this kind of stuff was taught in schools.  I might just have to do that for my local school.

:)

I agree about this forum.  It's brilliant to be able to openly discuss finances, it's quite liberating.  I can't vouch for the US, but in the UK, your finances are quite a taboo subject.  You'd never tell someone how much you have (as it would be seen as boasting) and you'd keep debts and money worries to yourself to avoid embarrassment.  I think about money, financial independence, savings, investments, interest etc more than anything else - you can't really discuss it with your mate in the pub... it'd just be weird!  That's my interpretation of it anyway.

So thanks everyone for liberating me, I guess!

[M5]

We were recently above 10k, but decided it was silly to keep paying interest on debt while we had money available. So, we start over and now there's nowhere to go but up! The only debt we have is on our rental property, we don't own our primary residence. Only including investments, rental house equity in our NW calculations.

2/1/18 - $5,047.07

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

2/15/18: $6,186.39

3/1/18: $7,200.41

Until today I completely forgot that I still had money in my Federal retirement fund. Since I have less than 5 years of service and I don't plan on returning to Federal employment, they have to refund my contributions.

That bumps our NW to $10,215.13

Looks like we'll be graduating earlier than I thought, see ya'll in the next thread!

[haypug16]

That bumps our NW to $10,215.13

Looks like we'll be graduating earlier than I thought, see ya'll in the next thread!

Congrats! Good luck on the race to 100K thread. I can't wait to join that one myself :)

[M5]

That bumps our NW to $10,215.13

Looks like we'll be graduating earlier than I thought, see ya'll in the next thread!

Congrats! Good luck on the race to 100K thread. I can't wait to join that one myself :)

Thank you!

[Rimu05]

Time to join this seriously and post my finances to the direct number. I have all my accounts on Mint so despite not posting here. I pretty much can see what a poor net worth I have on mint.

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

Age - 25

Total net worth = -$30,768

Car loan = -$9,331
Student loan = $-27,944
Credit card = -$ 4,313 (about 4,000 is medical debt, but lazy paying this as it is on 0% until next year)

Positives

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

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

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

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

Positives

401K - $8,263
Savings - $2800.11

New year hear we go.

Total net worth = -$27,676

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

Positives

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

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

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

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

Positives

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

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

I got promoted and an 8% raise, not huge for my income, but I am still happy. I also got a mini 2% bonus, but again, still happy about it.

Total net worth = -$21,420 (I'm such a skeptic about this. Like I don't trust mint, but manually calculated and I guess slow and steady. From my updates, I have made strides in months)

Car loan = -$7,817
Student loan = $-27,944
Credit card = -$ 4,090 (I paid some off)


401K - $12,653
Checking - $373
Savings - $5400

In all honesty, I could be way ahead by like $200 but I had an awful Starbucks habit this month. Like I cringed when I saw how much I spent. I think I will try study at home during the weekends, but weekdays, there's no helping it. My roommate is there and once she starts cooking, it is a coughing fit like no other.

[Tasse]

In all honesty, I could be way ahead by like $200 but I had an awful Starbucks habit this month. Like I cringed when I saw how much I spent. I think I will try study at home during the weekends, but weekdays, there's no helping it. My roommate is there and once she starts cooking, it is a coughing fit like no other.

You could try brewing coffee at home and taking it with you to study? That also opens up new venues - you can study outside, in the library, at a friend's place, not just at the coffeeshop.

Nice work plugging away!

[Rimu05]

In all honesty, I could be way ahead by like $200 but I had an awful Starbucks habit this month. Like I cringed when I saw how much I spent. I think I will try study at home during the weekends, but weekdays, there's no helping it. My roommate is there and once she starts cooking, it is a coughing fit like no other.

You could try brewing coffee at home and taking it with you to study? That also opens up new venues - you can study outside, in the library, at a friend's place, not just at the coffeeshop.

Nice work plugging away!

If there is one thing I miss about the North East is libraries. I never thought I would miss something like that, but my university library was open until midnight. In FL, the public library is open until 9PM and is 30 mins from my house. On top of that they open at 1PM on the weekends and close early. Which drives me nuts. I can only stay there for about four hours before I have to migrate to Starbucks anyway.
Plus 30 mins of driving feels to me like the cost of a cup of coffee.

I am just hoping, I can get a job in the North east as I take these exams as it would be far easier to study for them there.

The only good thing the starbucks habit brought me was I've become more diligent about cooking. Cost me about $30 to eat for four days.

[Moonwaves]

BoI savings a/c: 70.00
DiBa ETF: 538.03
CmzBank savings a/c: 700.00
Total:  1,308.03

My two annual expenses accounts (which I don't count in the above) now stand at 900 and 400 respectively. 400 is the account earmarked for travel and will definitely be used soon. My next big annual expense is coming up next month but I think I can swing it that I just pay directly for that without needing to touch the savings. I'd really like to add another 100 to that account and then try to always keep it at 1,000 minimum. Just as an extra bit of security. As soon as my next invoices are paid, I'm going to throw 300 at my actual emergency fund so that that is also sitting at 1,000. And then I'll be focusing a bit more on padding my travel account, which I'm going to need a lot this year.

BoI savings a/c: 80.00
DiBa ETF: 597.03
CmzBank savings a/c: 700.00
Total:  1,377.03

Annual expense accounts down to 730 and 270 but that is of course what they're there for. In this case, 170 went to paying my portion of year-long program with a dietician (two installments of 50 and 40 to be paid at a later date - my health insurance pays for the rest of it) and 130 for my flight back to Germany in June. Still have to arrange a flight over to Ireland but will figure that out at the weekend. Needed to book the return before all the cheaper seats were gone. Kind of annoyed that it took so long to sort out holidays with work and that new job is so much less flexible on when I take holidays so that I'm booking peak season tickets, but I'll put up with it for this year and see what I can do differently next year when new boss has taken office. And hopefully an invoice or two will be paid soon so that I can top up my annual expense accounts again and get my emergency fund up to 1,000. Still good to see even a small amount of progress upwards.

[haypug16]

March 15th 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)
3/15/2018 $(16,910.30) +1,311.33 increase :)

Pretty close to 1/2 my monthly goal so I'm happy with the progress. Credit card debt will be gone by next month, only about $1K left on that!!! I know I said in my last update that my part-time gig was coming to an end but I think it may drag out a little longer but less hours and more pay since I have knowledge that it very valuable :) This will probably gone on for another month or so.

p.s. just noticed I'm almost at my 1 year anniversary on this thread!


Zero NW Goal - September 2018
$10K NW Goal - December 2018

[lexde]

I’m in! 10k net worth will be my goal for May 2018.

December 14, 2017: +811
[took out NW graph for quoting]

12/29/2017: $2,243

1/14/2018: $3,162.51

1/31/2018: $5,592.26

2/15/2018: $8,544.84

2/28/2018: $10,215.72

3/15/2018: $12,926.94

Looks like I’m in the clear. See you guys in the next thread!

[Tasse]

p.s. just noticed I'm almost at my 1 year anniversary on this thread!

And $36k richer for it!

[haypug16]

Looks like I’m in the clear. See you guys in the next thread!

Woohoo! Congrats. See you over there by 2019 ;)

p.s. just noticed I'm almost at my 1 year anniversary on this thread!

And $36k richer for it!

Yup that's amazing to me.

[zeli2033]

Mid-month update time.

12/11/17: (47,400)
12/26/17: (42,469)
12/29/17: (39,190)
1/31/18: (28,165)
2/15/18: (26,399)
2/28/18: (21,735)
3/16/18: (19,339)

Assets [401ks, IRAs, HSA, Cash]: $42,609
Student Loan/CCs: (61,948)

We finished contributing to our 2018 Roth IRAs, opened our HSA and made the first ever extra payment to the student loan! Let the snowball begin...

[Imma]

I’m in! 10k net worth will be my goal for May 2018.

December 14, 2017: +811
[took out NW graph for quoting]

12/29/2017: $2,243

1/14/2018: $3,162.51

1/31/2018: $5,592.26

2/15/2018: $8,544.84

2/28/2018: $10,215.72

3/15/2018: $12,926.94

Looks like I’m in the clear. See you guys in the next thread!

Congrats! See you there next year :)

And great news zeli2033! Such a good feeling when one goal is achieved and you can start working on the next one.

[Dicey]

Just popping in to say it's great to see so many people graduating! Lots of debt is being vanquished and the support is amazing! I lurk here a bit, because I remember how hard and lonesome it was in the beginning. Please don't think this is in any way condescending, but it really, really, does get easier once you get some traction.

[Manchester]

An increase of £604.66 this month, which is better than Feb, but still around £200 off my monthly target.  Lot's to be positive about this month though:

My girlfriend has finally got a new job
I'm getting a big payrise in April
I've cancelled my gym membership and joined a much cheaper gym that I've paid the full year upfront for a big discount (£13 per month!!)
I've got £1k in an EF fund which means I can take more risks and start investing properly whilst still contributing to this

I'm moving in the right direction so I'm still confident of graduating from here on or before the 22nd of December.  It will be interesting to see what the next few months bring. :)


I've also been having some fun on excel and this is quite a nice graph to see how my N/W has grown and how it's allocated between current/emergency/investments etc.

[Trifle]

Love the graph Manchester!  Very nice.

[haypug16]

I love the graph! I have a dashboard in my google sheet and I may need to add a graph for this info. I just have one that shows total NW but I like that this breaks it down and shows where the total is coming from.

[zeli2033]

Agreed! This is an excellent graph that I will be trying to recreate for myself this weekend. Thanks for sharing it and providing inspiration, @Manchester !

[Imma]

Wow Manchester, that's great progress! I love the graph too.

[LittleWanderer]

End of March update:

Emergency fund: $5917

Whew, I'm pretty sure that's the highest my EF has ever been!  About halfway to my goal.  I have a few more things to get done at the dentist, but I'm finally seeing a light at the end of the tunnel.  Don't neglect your teeth in your 20s, or it's going to come back and bite you in the ass in your 30s! 

[Rimu05]

An increase of £604.66 this month, which is better than Feb, but still around £200 off my monthly target.  Lot's to be positive about this month though:

My girlfriend has finally got a new job
I'm getting a big payrise in April
I've cancelled my gym membership and joined a much cheaper gym that I've paid the full year upfront for a big discount (£13 per month!!)
I've got £1k in an EF fund which means I can take more risks and start investing properly whilst still contributing to this

I'm moving in the right direction so I'm still confident of graduating from here on or before the 22nd of December.  It will be interesting to see what the next few months bring. :)


I've also been having some fun on excel and this is quite a nice graph to see how my N/W has grown and how it's allocated between current/emergency/investments etc.

Teach us your ways oh great one.

[TexasRunner]

OH NOOOOOOO!

Allright so I'm in. 
...
Current status (Mid December):
Total Net Worth:  +$33,532.94
Liquid Net Worth:  ($7929.52) (Due to student loans, CC debt that needs to get pummeled, and stupidly not building enough of a emergency fund).

Goal by September 2018 (these specifically because it would be 6 full months of FU money without hitting the retirement accounts): 
Total Net Worth: +$61,287.35
Liquid Net Worth: +$19,824.89
Which would make me a 10k liquid net worth cohort of March/April 2018.

Yes, I know I am technically already a graduate...  But the net worth is at risk because it is largely tied up in equity.  FU money is present but lacking compared to CC debt which is very much hitting a hair-on-fire issue. 

(End of December)
Current status:
Total Net Worth:  +$36,923.43
Liquid Net Worth:  ($4,711.27) (Due to student loans, CC debt that needs to get pummeled, and stupidly not building enough of a emergency fund).

(End of January)
Current status:
Total Net Worth:  +$38,756.52
Liquid Net Worth:  ($3,001.77)
Days Bought:  26.47

Its an additional +$1,833.09 to the net worth and an additional +$1,709.50 net worth not tied up in equity.

(End of February)
Current status:
Total Net Worth:  +$41,284.49
Liquid Net Worth:  ($699.85) UNDER 4 DIGITS!  YAY!!!!
Days Bought:  28.18

Its an additional +$2,527.97 to the net worth and an additional +$2,301.92 net worth not tied up in equity. And an additional 1.71 days 'bought'.

Man, its crazy how well this stuff works.  Keep it up guys!!!!

So I had a barrage of annual costs.  Homeowners insurance, vehicle insurance (which I pay annually to save money), car repairs and a large purchase.  I went the wrong way....  :(

But, I suppose that is to be expected on some months.  And paying the insurance annually saved 328.25 on the cars.  But geeze seeing the numbers going backwards is infuriating.

We were paid early due to the bank holiday, so posting for 4/1/18 or End-of-Month March (which is how I track it).

(End of March)
Current status:
Total Net Worth:  +$35,545.97
Liquid Net Worth:  ($6913.68) Should still be able to pay it off without additional interest...  We'll see.
Days Bought:  24.27  (Down from 28.18)

Its a loss of ($5,738.52) to the net worth and a loss of ($6,213.83) net worth not tied up in equity. And a loss of 3.91 days 'bought'.

The market has some to do with this, but not all, as well as reduced income from work due to low bonuses.  Oh well.  Keep on chugging guys!  I am hoping to make the groundwork back up in 2 months or less.

[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

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

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 

Goals for 31 December 2018:

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

This felt like another month of going nowhere, but I'm glad to see there's still a tiny bit of progress. This is again the most money I've had since buying a house in 2015 (I don't track net worth, only liquid assets). I'm adding €2000 to my savings goal, because the recent economic volatily is bad for the companies we work for. There are also some rumours about restructuring at the company my s/o works for. He would be entitled to a severance package worth a couple of thousand €'s + some unemployment benefits, and he'd be happy to leave this company, but I'm not sure he'd easily find a job that pays just as much. On the other hand, he's totally prepared to do any kind of work so I don't think he'd be out of work for long. We don't have joint savings accounts, so it's kind of funny that I'm saving in case he loses his job, but I'm a bit of a control freak when it comes to money. He is saving as well, but his income is lower so it's more difficult for him. I just want to make extra sure we have money. I'm really not sure I will be able to reach this goal in 2018, but I'll give it a try.

[fluffmuffin]

I'm back! Y'all, this has been a crazy spring. Work's been ridiculous, I was on vacation for spring break, I got the flu for a week as soon as I got back, and then I had to drag myself to a bachelorette party which knocked my body for another loop. Sticking to my savings goal has not been my top priority, since I've been choosing to throw money at problems instead of frugal ninja-ing them for the last month. I am grateful that a life of overall frugality (with the crucial caveats that I have a stable job, my health, a generous work-sponsored retirement plan, good insurance, a partner to split major expenses with, etc.) allows me the privilege and the ability to do so.

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
3/30/3018: $8,614.89

[Spruit]

Wooptidoo, it's payday! Got paid for main job and side gig this month, so a welcome boost for the numbers.
NW numbers:
Dec (2-12-17): 4171
Dec (22-12-17): 5937
Jan (1-1-18): 4398
Feb (5-2-18): 5067
Feb (23-2-18): 6445

My NW number now starts with a six, yes! We're in the lift again with joint NW as well, pleased with that too.

March (30-3-18): 5191 6032
Lower number than last update, but all monthly deductions are already accounted for this time. And, market swings of course have had their effect on the part that's invested. All 'n all, still moving in the right direction.

Edit: scratch that, I forgot to add in some of my accounts. I get to keep the 6, yay!

[zeli2033]

End of March update

12/11/17: (47,400)
12/26/17: (42,469)
12/29/17: (39,190)
1/31/18: (28,165)
2/15/18: (26,399)
2/28/18: (21,735)
3/16/18: (19,339)
3/30/18: (16,099)

Assets [401ks, IRAs, HSA, Cash]: $45,528
Student Loan/CCs: (61,627)

[Slanhirn]

07.2017 = (£2,877)
08.2017 = (£1,852) = + £1,025
09.2017 = (£650) = + £1,202
10.2017 = £1,238 = + £1,888
11.2017 = £3,066 = + £1,178
12.2017 = £4,360 = + £1,294
01.2018 = £6,895 = + £2,535
02.2018 = £7,943 = + £1,048
03.2018 = £8,754 = + £811
04.2018 = £10,331 = + £1,577

Assets = £23,485
Student loans = (£13,154)

Woo! I've reached £10K net worth!! My journey to £10K ended up taking me a year and 9 months, from -£13K Aug 2016.

Thanks to everyone for your support and see you all in the next race!

[LittleWanderer]

Woo! I've reached £10K net worth!! My journey to £10K ended up taking me a year and 9 months, from -£13K Aug 2016.

Thanks to everyone for your support and see you all in the next race!

Congrats, Slanhirn!!!  See you in the next thread.  :)

[vseddie]

March Update 

Went backwards this month. My 6yo TV blew up so I bought a new one and had a bunch of annual expenses due. My internet provider sent me an email saying cause ive been a loyal customer if I pay 12 months in advance they will give me 2 months free. Sounds like a good return on fixed expenses lol. Hopefully make better progress next month.

Savings
Jan 1st $0
Jan 31st $2628
Feb 28th $5254.40 (+$2626.40)
Mar 30th $4530.18 (-$724.22)

[SansSkill]

Hello!

Been lurking this forum for a while, figured I might as well join the forum and the racehere.

January:
Checking account: €2073.70
Saving account: €500.00
Investment: €495.06
Total: €3068.76

February:
Checking account: €1978.53
Saving account: €987.22
Investment: €495.06
Total: €3965.75

March:
Checking account: €1810.04
Saving account: €1500
Investment: €1448.95
Total: €4758.99

[Manchester]

Hello!

Been lurking this forum for a while, figured I might as well join the forum and the racehere.

January:
Checking account: €2073.70
Saving account: €500.00
Investment: €495.06
Total: €3068.76

February:
Checking account: €1978.53
Saving account: €987.22
Investment: €495.06
Total: €3965.75

March:
Checking account: €1810.04
Saving account: €1500
Investment: €1448.95
Total: €4758.99

Welcome, and great start so far.  You're going to be on the race to 100k in no time! :)

[Manchester]

An increase of £604.66 this month, which is better than Feb, but still around £200 off my monthly target.  Lot's to be positive about this month though:

My girlfriend has finally got a new job
I'm getting a big payrise in April
I've cancelled my gym membership and joined a much cheaper gym that I've paid the full year upfront for a big discount (£13 per month!!)
I've got £1k in an EF fund which means I can take more risks and start investing properly whilst still contributing to this

I'm moving in the right direction so I'm still confident of graduating from here on or before the 22nd of December.  It will be interesting to see what the next few months bring. :)


I've also been having some fun on excel and this is quite a nice graph to see how my N/W has grown and how it's allocated between current/emergency/investments etc.

Teach us your ways oh great one.

Lol,  it's called a stacked column chart on excel. 

Create a spreadsheet like mine above.  Highlight the date and your totals (ecluding net worth).  Select Insert, then I have 'recommended charts' and it was the third option down.

As a concept it would be a good way to track debt as well.  :)

[Manchester]

This felt like another month of going nowhere, but I'm glad to see there's still a tiny bit of progress. This is again the most money I've had since buying a house in 2015 (I don't track net worth, only liquid assets). I'm adding €2000 to my savings goal, because the recent economic volatily is bad for the companies we work for. There are also some rumours about restructuring at the company my s/o works for. He would be entitled to a severance package worth a couple of thousand €'s + some unemployment benefits, and he'd be happy to leave this company, but I'm not sure he'd easily find a job that pays just as much. On the other hand, he's totally prepared to do any kind of work so I don't think he'd be out of work for long. We don't have joint savings accounts, so it's kind of funny that I'm saving in case he loses his job, but I'm a bit of a control freak when it comes to money. He is saving as well, but his income is lower so it's more difficult for him. I just want to make extra sure we have money. I'm really not sure I will be able to reach this goal in 2018, but I'll give it a try.

It's not another month going 'nowhere'.  It's another month going THE RIGHT WAY!  I went backwards in Feb, now that's what you want to avoid!  It's good that you and your S/O have savings.  Redundancy is a nasty thought, but you live in a manner that would prolong your savings - where somebody else on here might panic and feel the need to run around like their hairs on fire because they don't have $10k saved, you'd probably be able to go for a year off that! :P

Keep going.  Perhaps you should set a quarterly goal rather than a '2018' goal, so you can adapt it to your circumstances and remain motivated.  See if you can reach X amount by July?

[Imma]

This felt like another month of going nowhere, but I'm glad to see there's still a tiny bit of progress. This is again the most money I've had since buying a house in 2015 (I don't track net worth, only liquid assets). I'm adding €2000 to my savings goal, because the recent economic volatily is bad for the companies we work for. There are also some rumours about restructuring at the company my s/o works for. He would be entitled to a severance package worth a couple of thousand €'s + some unemployment benefits, and he'd be happy to leave this company, but I'm not sure he'd easily find a job that pays just as much. On the other hand, he's totally prepared to do any kind of work so I don't think he'd be out of work for long. We don't have joint savings accounts, so it's kind of funny that I'm saving in case he loses his job, but I'm a bit of a control freak when it comes to money. He is saving as well, but his income is lower so it's more difficult for him. I just want to make extra sure we have money. I'm really not sure I will be able to reach this goal in 2018, but I'll give it a try.

It's not another month going 'nowhere'.  It's another month going THE RIGHT WAY!  I went backwards in Feb, now that's what you want to avoid!  It's good that you and your S/O have savings.  Redundancy is a nasty thought, but you live in a manner that would prolong your savings - where somebody else on here might panic and feel the need to run around like their hairs on fire because they don't have $10k saved, you'd probably be able to go for a year off that! :P

Keep going.  Perhaps you should set a quarterly goal rather than a '2018' goal, so you can adapt it to your circumstances and remain motivated.  See if you can reach X amount by July?

Yes, you're right! We're going the right way, even though it's a very small step this month. We've had some unexpected costs, that we're hopefully done with now, and I already know I will get €1000 from work and €1000 tax return in May/June. Our savings are always at the lowest point in Q1.

There's some positive work news too: my s/o has applied for a new job! The pay is slightly higher, they have a company pension and some other good benefits, and it's five minutes from home. I hope he gets it.

[haypug16]

March 31st 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) +$3,304.94 increase!

Hit my month goal of $3K and on my 1 year anniversary on the MMM forum I've increased my Net worth a total of $37,932.16. :) If I keep up this rate I'll hit zero by the end of August and $10K around the end of November.

Zero NW Goal - September 2018
$10K NW Goal - December 2018

[Imma]

March 31st Update
3/31/2018 $(14,916.69) +$3,304.94 increase!

Hit my month goal of $3K and on my 1 year anniversary on the MMM forum I've increased my Net worth a total of $37,932.16. :) If I keep up this rate I'll hit zero by the end of August and $10K around the end of November.

Zero NW Goal - September 2018
$10K NW Goal - December 2018

Those are massive achievements! Well done!!!

[Spruit]

Yes, you're right! We're going the right way, even though it's a very small step this month. We've had some unexpected costs, that we're hopefully done with now, and I already know I will get €1000 from work and €1000 tax return in May/June. Our savings are always at the lowest point in Q1.

There's some positive work news too: my s/o has applied for a new job! The pay is slightly higher, they have a company pension and some other good benefits, and it's five minutes from home. I hope he gets it.

The bolded part is why I think it is not a coincidence the Catholics do (did?) Lent this time of year and not any other ;)
Fingers crossed for your S/O!

[haypug16]

Thanks Imma. Can't wait to see how I do in year two!

[Yasha]

Hello friends!

After reading through the blog for a few months and the forums for a few weeks I am finally ready to step out of the shadows and make a post. I am currently very (very) early on my journey to financial freedom and am keen to move from negative to positive net worth. I have some very face-punchable negative numbers (honeymoon loan, laptop bought on credit) as well as some more forgivable but still negative numbers (HECS – Australian equivalent of student loans).

By my calculations we currently have a net worth of Negative $19 884. This is up from last month’s Negative $20 342. Now that I have two data points on my graph I am keen to continue the trend ‘up’ into the positive numbers. I have a page of my bullet journal dedicated to tracking the balances (not including HECS or Super – the Aussie 104K) which I’ve been finding really motivating and I leave it open on this page on my kitchen table to encourage me to get the shit done.

Thanks for sticking with me through this wall of text!



(I couldn't figure out how to rotate... sorry!)

[zeli2033]

Welcome Yasha! Love the picture you’ve drawn to showcase your progress! Fun way to track how you’re doing on the journey :)

[fluffmuffin]

Agreed @Yasha...I love the visual! And welcome!