The Money Mustache Community

General Discussion => Throw Down the Gauntlet => Topic started by: Gardo on November 17, 2016, 06:57:44 AM

Title: Saving to $10K
Post by: Gardo on November 17, 2016, 06:57:44 AM
to be able to join the thread "Race from 10 to 100K".

Who wants to join? :)
Title: Re: Saving to $10K
Post by: Gardo on November 17, 2016, 07:07:03 AM
Let's start with my own.

Current Balance : $23.0
Nov 2016 Savings : $5.2
Oct 2016 Savings :  $7.8
Starting Balance Oct 1, 2016 : $10.0

I see mine taking about a slow 3 years to get to my target of $10K as I pay mortgage and spends on my 2 kids.  I'd be the happiest person when I reach my goal of $10K of savings. 
Title: Re: Saving to $10K
Post by: Gardo on November 30, 2016, 10:27:16 PM
Let's start with my own.

Current Balance : $23.0
Nov 2016 Savings : $5.2
Oct 2016 Savings :  $7.8
Starting Balance Oct 1, 2016 : $10.0

I see mine taking about a slow 3 years to get to my target of $10K as I pay mortgage and spends on my 2 kids.  I'd be the happiest person when I reach my goal of $10K of savings.


Current Balance : $26.5
Nov 2016 Savings : $8.7
Oct 2016 Savings :  $7.8
Starting Balance Oct 1, 2016 : $10.0
Title: Re: Saving to $10K
Post by: motiv8ed on December 03, 2016, 07:03:48 AM
Im in.
[Nov 2016] $214.01
Title: Re: Saving to $10K
Post by: DieHard_772 on December 11, 2016, 10:18:53 PM
You know I'm in.  My IRA is currently on its way to $5000, and current bank savings over $1000. Putting 10% of income currently into IRA! Looking forward to matching that in savings and HSA. Intending to graduate out of this thread ASAP!

Thanks for starting this
Title: Re: Saving to $10K
Post by: illdothisifitkillsme on December 26, 2016, 05:35:25 PM
I'm in too. current balance is $26.36. next deposit will be the middle of january.
Title: Re: Saving to $10K
Post by: mousebandit on December 26, 2016, 06:42:48 PM
We are talking cash or retirement savings from $0.00 to $10,000.00 correct?  If so, I'm in!
Title: Re: Saving to $10K
Post by: DieHard_772 on December 26, 2016, 09:17:11 PM
We are talking cash or retirement savings from $0.00 to $10,000.00 correct?  If so, I'm in!

Let's do it!  I'm inching forward all the time
Title: Re: Saving to $10K
Post by: mousebandit on December 28, 2016, 11:21:36 PM
Dec 31, 2016:  Cash Emergency Fund $1120
                       Acorns Account.          $ 500

Jan Goal:         Cash Emergency Fund $1800
                       Acorns Account.          $ 600

Hubby may get laid off soon.  If he keeps working, this will still be the goal, because we will be paying daycare (since he won't be here to watch the kids while I work) and paying down the last of our debts.

Title: Re: Saving to $10K
Post by: kaleidoscopicalkris on December 29, 2016, 08:52:36 AM
Commenting to join! I will come back this evening and update my numbers once I get home from work and have access to them.
Title: Re: Saving to $10K
Post by: DieHard_772 on December 29, 2016, 06:02:58 PM
Dec 31, 2016:  Cash Emergency Fund $1120
                       Acorns Account.          $ 500

Jan Goal:         Cash Emergency Fund $1800
                       Acorns Account.          $ 600

Hubby may get laid off soon.  If he keeps working, this will still be the goal, because we will be paying daycare (since he won't be here to watch the kids while I work) and paying down the last of our debts.

That's great, mousebandit.  Sometimes I look at the people here with their $300k or $1 million and think "Holy s**t that's a long ways off..."  It's nice to see someone else here who is getting going just like I am.    I really appreciate this thread.

Great job so far, keep it up!
Title: Re: Saving to $10K
Post by: DieHard_772 on December 29, 2016, 06:43:54 PM
Our current numbers:

TOTAL SAVINGS: $7062

Betterment (99% IRAs, <$100 taxable + $ about to be deposited):  $4928
Our Savings account:  $1107
Other savings:  $308
HSA:  $250
My wife's IRA:  $423
My wife's Savings:  not exactly sure, might add this on future


Title: Re: Saving to $10K
Post by: motiv8ed on December 30, 2016, 04:27:08 AM
Nov 2016 $214.01
Dec 2016: $864.14
Title: Re: Saving to $10K
Post by: SwordGuy on January 03, 2017, 05:24:47 PM
Y'all are in the most important of the "Race To ..." threads!

Once you reorganize your life and finances to save $10,000, you've set the foundation to exceed that amount by more than your wildest dreams!
Title: Re: Saving to $10K
Post by: DieHard_772 on January 05, 2017, 01:01:04 AM
Y'all are in the most important of the "Race To ..." threads!

Once you reorganize your life and finances to save $10,000, you've set the foundation to exceed that amount by more than your wildest dreams!

Thanks that's awesome!
Title: Re: Saving to $10K
Post by: LittleWanderer on January 05, 2017, 11:57:38 AM
Hey, it's actually a place for me!  :)

I finally hit a positive net worth in December - woo hoo!  I am 100% debt free now.  Student loans paid in full, car paid in full (2012 Honda Civic), and my credit card company pays *me* in rewards.  (Suck it, Capital One.  You're never getting a dime in interest from me.)  Currently renting, no plans to buy in super near future. 

Right now I have a bare bones $1500 emergency fund I want to increase, will start contributing to my 401k next paycheck, and hope to hit over $10K saved by the end of the year.  So let's do this!

So as of right now:
Emergency fund: $1500
401k: $0
Title: Re: Saving to $10K
Post by: DieHard_772 on January 05, 2017, 12:28:59 PM
Hey, it's actually a place for me!  :)

I finally hit a positive net worth in December - woo hoo!  I am 100% debt free now.  Student loans paid in full, car paid in full (2012 Honda Civic), and my credit card company pays *me* in rewards.  (Suck it, Capital One.  You're never getting a dime in interest from me.)  Currently renting, no plans to buy in super near future. 

Right now I have a bare bones $1500 emergency fund I want to increase, will start contributing to my 401k next paycheck, and hope to hit over $10K saved by the end of the year.  So let's do this!

So as of right now:
Emergency fund: $1500
401k: $0

MSquared, I love your fire and energy, that's awesome.
I recently had to use my credit card again to pay for some business expenses.  It's a massive motivation to increase my income and get the hell out of
debt... and keep growing the fund.

Congrats on getting out of debt
Title: Re: Saving to $10K
Post by: LittleWanderer on January 05, 2017, 01:44:51 PM
Thanks, DieHard!  Do you own your own business?

My employer matches up to 8% for my 401k, so that's what I'm putting in right now.  I'm 33 years old and this is my first time contributing to my 401k.  I feel so behind, but I know there's nothing I can do but change it going forward.  I missed out on so much free money!  Sigh.   
Title: Re: Saving to $10K
Post by: Rimu05 on January 05, 2017, 01:56:13 PM
I am hardcore in. This will be my emergency fund

Currently January 2016:

Saved $1,800/$10,000

A slow yet steady journey.
Title: Re: Saving to $10K
Post by: DieHard_772 on January 06, 2017, 12:54:52 PM
Thanks, DieHard!  Do you own your own business?

My employer matches up to 8% for my 401k, so that's what I'm putting in right now.  I'm 33 years old and this is my first time contributing to my 401k.  I feel so behind, but I know there's nothing I can do but change it going forward.  I missed out on so much free money!  Sigh.   

yes, I do own my own business.  So no 401k for me.. glad you're taking advantage of it!
As for when you start investing, I know the feeling.  But better late than never!
Title: Re: Saving to $10K
Post by: Irish in Valencia on January 06, 2017, 04:34:47 PM
I'm in. My net worth as of now is -1915 euro.  Aim to be at 10k by October 2016
Title: Re: Saving to $10K
Post by: DieHard_772 on January 07, 2017, 09:20:46 PM
I'm in. My net worth as of now is -1915 euro.  Aim to be at 10k by October 2016

Awesome!
Title: Re: Saving to $10K
Post by: DieHard_772 on January 07, 2017, 09:26:29 PM
My savings aims for this year:

Max out my IRA... bring it past $10k.
Max out saving for our HSA.
Encourage my wife to increase her IRA savings, which right now is $100/mo.

Also:
Sock away money for a variety of bills via Qapital and Digit savings apps... currently business expenses, car maintenance/registration,
and next Xmas expenses (yep, starting early!)


Title: Re: Saving to $10K
Post by: Keef on January 12, 2017, 07:15:15 PM
Hey, it's actually a place for me!  :)

I finally hit a positive net worth in December - woo hoo!  I am 100% debt free now.  Student loans paid in full, car paid in full (2012 Honda Civic), and my credit card company pays *me* in rewards.  (Suck it, Capital One.  You're never getting a dime in interest from me.)  Currently renting, no plans to buy in super near future. 

Right now I have a bare bones $1500 emergency fund I want to increase, will start contributing to my 401k next paycheck, and hope to hit over $10K saved by the end of the year.  So let's do this!

So as of right now:
Emergency fund: $1500
401k: $0

Congratulations on being able to check-off each of those goals. Credit card debt can feel overwhelming. I now still use majority credit but never pay interest. My car was paid off in 2016, so now, I'm still working on the student loan debt, but have a plan to pay off this year. After that I'm debt free and can't wait! I plan this year to minimize my spending, maximize my income and funnel all that money into my investment accounts :) Keep up the good work, I'm there with you.
Title: Re: Saving to $10K
Post by: PhoenixHeat on January 18, 2017, 07:37:19 PM
Y'all are in the most important of the "Race To ..." threads!

Once you reorganize your life and finances to save $10,000, you've set the foundation to exceed that amount by more than your wildest dreams!

I want to believe this so much and I think I do believe this.
Title: Re: Saving to $10K
Post by: DieHard_772 on January 19, 2017, 02:07:26 PM

Congratulations on being able to check-off each of those goals. Credit card debt can feel overwhelming. I now still use majority credit but never pay interest. My car was paid off in 2016, so now, I'm still working on the student loan debt, but have a plan to pay off this year. After that I'm debt free and can't wait! I plan this year to minimize my spending, maximize my income and funnel all that money into my investment accounts :) Keep up the good work, I'm there with you.

Yea baby, get it done!
Title: Re: Saving to $10K
Post by: DieHard_772 on January 19, 2017, 02:08:59 PM
Y'all are in the most important of the "Race To ..." threads!

Once you reorganize your life and finances to save $10,000, you've set the foundation to exceed that amount by more than your wildest dreams!

I want to believe this so much and I think I do believe this.

Yeah, I was definitely moved by that post, too. 
I have been working for two years now to get my finances in order so that I am able to save a "substantial" percent... i.e. 20%, for investing and savings.  That's low for Mustachian standards, but it is a lot better than where it used to be at.

I agree, getting the ball rolling can be the most challenging thing.

Yet here we are!  Onward!
Title: Re: Saving to $10K
Post by: Zikzin on January 19, 2017, 02:16:14 PM
Joining here as well!

Goal: Roth: 5500
Savings: $5000


Dec 2016 - Opened Roth IRA - current balance $1458
                   savings account - $100







Title: Re: Saving to $10K
Post by: DieHard_772 on January 19, 2017, 03:06:39 PM
Joining here as well!

Goal: Roth: 5500
Savings: $5000


Dec 2016 - Opened Roth IRA - current balance $1458
                   savings account - $100

yeah!
Title: Re: Saving to $10K
Post by: blahblahblah on January 19, 2017, 03:31:49 PM
Dropping by to cheer you on!  Hit this milestone last year and it is incredible what it does for your outlook, motivation and snowball! 
Title: Re: Saving to $10K
Post by: Goldilocks on January 19, 2017, 03:42:20 PM
Definitely want to join this. I have about 7000 saved now. (Every time I get much further than this, large expenses happen so I've never officially made it to 10k. This is the year to change!)
Title: Re: Saving to $10K
Post by: blahblahblah on January 19, 2017, 03:53:47 PM
Dropping by to cheer you on!  Hit this milestone last year and it is incredible what it does for your outlook, motivation and snowball!

I take it back!  Choosing not to count the home in net worth since I have no desire to move.  I'm well in the negative, gonna see if there's a race to the starting line thread...
Title: Re: Saving to $10K
Post by: lemonverbena on January 23, 2017, 09:07:39 PM
Joining! We just opened our first retirement account on Friday. A whole $225 in a 2016 SEP IRA, which actually maxed it out as that is 25% of what my husband made at his self-employment side gig last year. It'll be slow progress though as the first priority is paying off the car loan. Also have a roof in need of replacing and mold to be dealt with this summer.

Jan 2017:
SEP IRA: $225
Car loan: -$7825

Total: -$7600
Title: Re: Saving to $10K
Post by: ketojenn on January 25, 2017, 07:43:20 AM
Joining!

We had a major, major set back last year.  My husband injured his back at work and was out for 3 1/2 months.  Workers comp denied our claim, currently appealing.  We found out just what we could survive on.  I make maybe 1/4 what he does each month and I was able to keep us going.  Just.  All saving wiped out.  Credit cards almost maxed.  Starting over with a much different perspective. To start with ALL of my income will be going into an IRA or savings.  We will be making double payments on our car to get rid of that debt in a hurry.  My husband will start putting 10% towards his 401K and 10% towards our regular savings.  We hope to buy a house in Vegas in a few years and get out of the frozen north.  We will see how this goes for a couple months, then adjust.

Jan 2017:

IRA: 250.00
Savings: 195.14
Car loan: -9631.85
Credit cards: -9649.00

Title: Re: Saving to $10K
Post by: Zikzin on January 25, 2017, 10:00:59 AM
Joining here as well!

Goal: Roth: 5500
Savings: $5000


Dec 2016 - Opened Roth IRA - current balance $1458
                   savings account - $100

As of Jan2017

Roth IRA - $1939
Savings - $300
Title: Re: Saving to $10K
Post by: DieHard_772 on January 25, 2017, 04:42:21 PM
Joining here as well!

Goal: Roth: 5500
Savings: $5000


Dec 2016 - Opened Roth IRA - current balance $1458
                   savings account - $100


As of Jan2017

Roth IRA - $1939
Savings - $300

Awesome
Title: Re: Saving to $10K
Post by: DieHard_772 on January 25, 2017, 04:47:33 PM
My IRAs:   $4878
Money for Investing:   $278
Savings account:  1113
Other savings: $327
HSA:   $251
my wife IRA:$534

TOTAL:  $7371
Title: Re: Saving to $10K
Post by: lemonverbena on January 26, 2017, 01:01:35 PM
I made some progress, so I'll go ahead and update now.

Late Jan 2017:
SEP IRA: $225
tIRA: $1590
Car loan: -$7825

Total: -$6010

And, even though I don't count it in net worth...
House equity: $148,208
Title: Re: Saving to $10K
Post by: LittleWanderer on January 27, 2017, 08:21:16 AM
Well, HR didn't submit my info in time for my 401k for January's last paycheck, so that's currently sitting at zero.  Bah humbug.  Instead I went ahead paid for our 2017 CSA share, so that's done and out of the way.  I also bought plane tickets this month, so it was a high spend month.  Not a whole lot to send to savings, but it will be better going forward. 

End of January:
Emergency fund: $1730
401k: $0
Total: $1730
Title: Re: Saving to $10K
Post by: LittleWanderer on January 27, 2017, 08:23:16 AM
Dropping by to cheer you on!  Hit this milestone last year and it is incredible what it does for your outlook, motivation and snowball!

Thank you!  I can't wait to get there.  After paying off debt for so many years, it feels amazing to be able to save.  I can't say I've ever had more than $5K in a bank account before, so this is going to be exciting!  :)
Title: Re: Saving to $10K
Post by: mathstache on February 02, 2017, 05:19:50 PM
I'm getting close - but I'm about to have a major unexpected car expense (I should just have a job close enough to bike...). Have been wanting this one for a while.

$3000 checking/savings
$4500 roth ira

Total $7500 2/02/17
Title: Re: Saving to $10K
Post by: DieHard_772 on February 02, 2017, 10:45:47 PM
I'm getting close - but I'm about to have a major unexpected car expense (I should just have a job close enough to bike...). Have been wanting this one for a while.

$3000 checking/savings
$4500 roth ira

Total $7500 2/02/17

go to it!
Title: Re: Saving to $10K
Post by: DieHard_772 on February 02, 2017, 11:05:42 PM
Savings goals for this year:

Max out our HSA including the extra $1000 make up amount ... $7750
Max out my IRAs $5500
TOTAL--$13250

liquid savings... as much as possible!

Pay off the credit card! A big fat ZERO!
Title: Re: Saving to $10K
Post by: DieHard_772 on February 03, 2017, 03:54:30 PM
My IRAs:   $4878
Money for Investing:   $278
Savings account:  1113
Other savings: $327
HSA:   $251
my wife IRA:$534

TOTAL:  $7371

Latest:

My IRAs:   $5574   (this is current balance plus recent $300+ contribution made)
Savings account:  1115   (plus $2 thanks to interest, haha!)
Other savings: $361
HSA:   $465.44
my wife IRA:$534

TOTAL:  $8040

Onward and upward!
Title: Re: Saving to $10K
Post by: Rimu05 on February 10, 2017, 09:15:19 AM
I am hardcore in. This will be my emergency fund

Currently January 2017:

Saved $1,800/$10,000

A slow yet steady journey.

February 2017 - $3000/$10,000

I will probably reach $5000 and then stop so I can address my medical bills.
Title: Re: Saving to $10K
Post by: ketojenn on February 11, 2017, 08:53:49 AM
Doing well so far,

Jan 2017:

IRA: 250.00
Savings: 195.14
Car loan: -9631.85
Credit cards: -9649.00

Feb 11, 2017:

IRA:  500.00
Savings:  278.92
Car Loan: -9631.85(don't have new numbers yet)
Credit cards: -5787.92

I've really been going after the credit card debt.  After that's gone things should move much quicker!
Title: Re: Saving to $10K
Post by: lemonverbena on February 11, 2017, 02:57:48 PM
Jan 2017:
SEP IRA: $225
Car loan: -$7825

Total: -$7600

Late Jan 2017:
SEP IRA: $225
tIRA: $1590
Car loan: -$7825

Total: -$6010


Mid Feb 2017:
SEP IRA: $226
tIRA: $1604
Car loan: -$5593

Total: -$3763
Title: Re: Saving to $10K
Post by: Mezzie on February 11, 2017, 03:31:55 PM
You guys are all doing great!
Title: Re: Saving to $10K
Post by: Hargrove on February 12, 2017, 10:29:16 AM
The hardest part really is that first commitment. It can be difficult to do that while reading some of the savings-rate complaints of super high earners here.

It's when you put it into context for yourself, though, that's when it really clicks. Your first month is a huge slog, and you put away this pile of money bigger than any you ever spent in a month. In not long, you have more money saved than you imagined anyone you knew had. You worry less about stuff your friends still complain about. You realize you care, but you don't panic when the car breaks down. You don't check your balance before going to the store - you just shop like a badass. By year 2, the first pile of money you made, a bigger pile than you imagined only a short while ago, is now twice as big, and the new biggest pile of money you've ever had, and you're getting a free month or two added to the savings for nothing every year...

Every step helps. Some are smaller, some larger. My SO is a freelancer following a dream, who makes almost nothing right now. Her goal is to add a part-time Starbucks gig to indefinitely cover our health insurance, which is pretty simple, but pretty awesome, and a huge piece of the financial puzzle.

The hard-mode Mustachians are the ones starting later, or without the one or both super-high-earning jobs, and making it work anyway.

You can do it!
Title: Re: Saving to $10K
Post by: DieHard_772 on February 12, 2017, 03:46:33 PM
The hardest part really is that first commitment. It can be difficult to do that while reading some of the savings-rate complaints of super high earners here.

It's when you put it into context for yourself, though, that's when it really clicks. Your first month is a huge slog, and you put away this pile of money bigger than any you ever spent in a month. In not long, you have more money saved than you imagined anyone you knew had. You worry less about stuff your friends still complain about. You realize you care, but you don't panic when the car breaks down. You don't check your balance before going to the store - you just shop like a badass. By year 2, the first pile of money you made, a bigger pile than you imagined only a short while ago, is now twice as big, and the new biggest pile of money you've ever had, and you're getting a free month or two added to the savings for nothing every year...

Every step helps. Some are smaller, some larger. My SO is a freelancer following a dream, who makes almost nothing right now. Her goal is to add a part-time Starbucks gig to indefinitely cover our health insurance, which is pretty simple, but pretty awesome, and a huge piece of the financial puzzle.

The hard-mode Mustachians are the ones starting later, or without the one or both super-high-earning jobs, and making it work anyway.

You can do it!

Awesome encouraging words, thanks.
Sometimes it seems awhile away before I will have one month's expenses set aside in our usual savings, but I keep doing it anyway,
every day there's more in it... Thanks for the words
Title: Re: Saving to $10K
Post by: lampstache on February 13, 2017, 07:26:49 AM
Joining in! Need to start somewhere! Still trying to get out of negative net worth...

Investments      $39,533.00
Equity              $30,100.00
Savings             $7,387.00
CC 0%             $(1,300.00)
CC 0%              $(4,600.00)
Auto Loan          $(7,500.00)
Student Loans   $(80,345.00)
   
Total                 $(-16,725.00)
Title: Re: Saving to $10K
Post by: LittleWanderer on February 13, 2017, 08:59:48 AM
Awesome post, Hargrove.  I am not a super high earner, so sometimes it is hard to read those posts, but then I remind myself how far I've come since finding MMM two years ago.  I paid off my student loans, my car, and no longer have any debt.  Now is the beginning of the good stuff!  I get to save and invest with my extra money instead of constantly throwing it at debt.  This will be the first year I get to actually save my tax refund instead of sending it off toward something else.  I can't wait for my stache to grow.  This is the poorest I will ever be.  :)

High five for no credit card debt, DieHard!  Great job!!
Title: Re: Saving to $10K
Post by: ketojenn on February 24, 2017, 07:57:42 AM
Pretty happy with the drift of things so far.  Hoping to completely wipe out the credit cards next month.  How is everyone doing?

Jan 2017

IRA - 250.00
Savings - 195.14
Car loan - (9631.85)
Credit cards - (9649.00)

Debt =(19,280.85)
Savings =445.14
Balance = (18,835.11)

Feb 2017

IRA - 750.00
Savings - 423.77
401K - 278.59
Car loan - (9287.61)
Credit cards - (2318.36)

Debt = (11,605.97)
Savings = 1452.36
Balance = (10,153.61)
Title: Re: Saving to $10K
Post by: DieHard_772 on February 25, 2017, 11:03:27 AM


Feb 2017

IRA - 750.00
Savings - 423.77
401K - 278.59
Car loan - (9287.61)
Credit cards - (2318.36)

Debt = (11,605.97)
Savings = 1452.36
Balance = (10,153.61)

Hey, man, way to go. 

Things are going well for me.  Will post the new numbers soon.
Title: Re: Saving to $10K
Post by: recklesslysober on February 28, 2017, 04:21:17 PM
I'm still paying off student loans but here's where I am now:

($115,000) - student loans
($3,500) - credit cards
$13,500 - retirement
$1,000 - cash savings

= ($104,000)

Planning to hit the positive net worth/10K mark in about 3 years, and be debt free in 5 or less. 
Title: Re: Saving to $10K
Post by: Trifele on February 28, 2017, 05:03:55 PM
Stopping by to cheer you all on, and say -- you can do this.  Once that snowball starts rolling, it's the best feeling in the world.  :) 
Title: Re: Saving to $10K
Post by: Zikzin on March 01, 2017, 04:48:01 PM
Joining here as well!

Goal: Roth: 5500
Savings: $5000


Dec 2016 - Opened Roth IRA - current balance $1458
                   savings account - $100


As of Jan2017
Roth IRA - $1939
Savings - $300

As of Feb2017
Roth IRA - $2470
Savings - $500
Title: Re: Saving to $10K
Post by: LittleWanderer on March 02, 2017, 11:29:22 AM
Checking in for the end of February.

Emergency fund: $2862
401k: $0
TOTAL: $2862

HR went on vacation, now I'm going on vacation...my poor 401K.  I'm tracking down the HR woman as soon as I get back to get things set up. 
Title: Re: Saving to $10K
Post by: jed2009 on March 02, 2017, 12:47:56 PM
Hey all,

Wanted to chime in - I am new to the site (from Bogleheads).  I am on the journey as well and pretty fresh into it.  I am over the 10k mark but not until very recently.  About 3 years ago I was laid off and started to work my way back up.  Went from unemployment, to around $25k, to around $33k, to $40k to now $59k a year income.  Currently sitting at:

Cash Savings: $5k emergency fund
Vanguard Roth IRA: $8,800
401k: $9,000
Student Loan Debt: $13,000
All in all net worth (including belongings, not including mortgage) is around +$30k. 3 years ago I was at $(-16,000). 

The poster above that said once you get into the mindset and start saving, it's incredible how quickly it moves.  I am currently focused on getting my student loans blasted out by the end of the year.

Stay motivated and stay focused!!!  This is a great thread to keep people inspired.
Title: Re: Saving to $10K
Post by: mathstache on March 02, 2017, 06:26:51 PM
I'm getting close - but I'm about to have a major unexpected car expense (I should just have a job close enough to bike...). Have been wanting this one for a while.

$3000 checking/savings
$4500 roth ira

Total $7500 2/02/17

Damn that car! $2000 checking/savings $4500 roth ira. Total $6500 3/02/17
Hate to post it going down, but I'm trying to keep myself accountable
Title: Re: Saving to $10K
Post by: Trifele on March 03, 2017, 04:10:16 AM
Way to hang in there Mathstache!  You can do this!
Title: Re: Saving to $10K
Post by: lemonverbena on March 03, 2017, 10:30:39 PM
Jan 2017:
SEP IRA: $225
Car loan: -$7825

Total: -$7600

Late Jan 2017:
SEP IRA: $225
tIRA: $1590
Car loan: -$7825

Total: -$6010


Mid Feb 2017:
SEP IRA: $226
tIRA: $1604
Car loan: -$5593

Total: -$3763

Mar 2017:
SEP IRA: $227
tIRA: $1630
Car loan: -$5593
Roof loan: -$8864

Total: -$12,600

Numbers going way in the wrong direction, but a roof replacement is so overdue and it feels good to be taking care of it. Should have half of it paid off by the end of the month.
Title: Re: Saving to $10K
Post by: DieHard_772 on March 06, 2017, 11:40:58 AM
Update:

Savings: $1117
IRAs (Betterment):  $5866
Other savings: $470
HSA: $472
My wife's IRA: $643
Other money for investing (going into the HSA): $250
TOTAL: $8820
Title: Re: Saving to $10K
Post by: DieHard_772 on March 06, 2017, 12:00:28 PM
Comparison to Last Month:

My IRAs:   $5574 +$292 
Savings account:  1115  +$2
Other savings: $361 +$109
HSA:   $465.44 +$7
+$250 to be added
my wife IRA:$534 $109

TOTAL:  $8040  +$780

Onward and upward!
Title: Re: Saving to $10K
Post by: Trifele on March 06, 2017, 04:40:06 PM
DieHard!  You are almost there!  Way to go!
Title: Re: Saving to $10K
Post by: Salim on March 06, 2017, 05:28:48 PM
Just found this thread, and I'm in! Thank you for doing this! I want to retire from part-time work by the end of June, but DH and I want to have a $10,000 emergency fund before we quit work. (Our IRAs are in decent shape.)

3/6/17
Emergency fund: $1,000
Title: Re: Saving to $10K
Post by: DieHard_772 on March 06, 2017, 09:09:51 PM
DieHard!  You are almost there!  Way to go!

THANK YOU!
Title: Re: Saving to $10K
Post by: recklesslysober on March 07, 2017, 12:48:00 PM
I'm still paying off student loans but here's where I am now:

($115,000) - student loans
($3,500) - credit cards
$13,500 - retirement
$1,000 - cash savings

= ($104,000)

Planning to hit the positive net worth/10K mark in about 3 years, and be debt free in 5 or less.

($113,500) - student debt
$13,500 - retirement
$3,000 - cash savings

= (97,000)

I made it out of the negative six figures!
Title: Re: Saving to $10K
Post by: Trifele on March 07, 2017, 02:35:55 PM
I'm still paying off student loans but here's where I am now:

($115,000) - student loans
($3,500) - credit cards
$13,500 - retirement
$1,000 - cash savings

= ($104,000)

Planning to hit the positive net worth/10K mark in about 3 years, and be debt free in 5 or less.

($113,500) - student debt
$13,500 - retirement
$3,000 - cash savings

= (97,000)

I made it out of the negative six figures!

Hey RecklesslySober -- Congrats on the milestone, and great job killing the credit card debt!
My numbers at around age 30 were very similar to yours.  I started out ~$120k in the hole due to student loans as well.  Way to attack that beast!   
Title: Re: Saving to $10K
Post by: recklesslysober on March 07, 2017, 03:03:32 PM
I'm still paying off student loans but here's where I am now:

($115,000) - student loans
($3,500) - credit cards
$13,500 - retirement
$1,000 - cash savings

= ($104,000)

Planning to hit the positive net worth/10K mark in about 3 years, and be debt free in 5 or less.

($113,500) - student debt
$13,500 - retirement
$3,000 - cash savings

= (97,000)

I made it out of the negative six figures!

Hey RecklesslySober -- Congrats on the milestone, and great job killing the credit card debt!
My numbers at around age 30 were very similar to yours.  I started out ~$120k in the hole due to student loans as well.  Way to attack that beast!

Thanks! :) I started at $130,000 of student loans in 2015 and just recently accelerated the payoff. Reading everyone's stories here has really helped!
Title: Re: Saving to $10K
Post by: DieHard_772 on March 07, 2017, 05:04:52 PM
I'm still paying off student loans but here's where I am now:

($115,000) - student loans
($3,500) - credit cards
$13,500 - retirement
$1,000 - cash savings

= ($104,000)

Planning to hit the positive net worth/10K mark in about 3 years, and be debt free in 5 or less.

($113,500) - student debt
$13,500 - retirement
$3,000 - cash savings

= (97,000)

I made it out of the negative six figures!

I am always impressed when people are able to knock off thousands of dollars in debt so quickly.
Way to go.
Title: Re: Saving to $10K
Post by: recklesslysober on March 07, 2017, 07:01:27 PM
I'm still paying off student loans but here's where I am now:

($115,000) - student loans
($3,500) - credit cards
$13,500 - retirement
$1,000 - cash savings

= ($104,000)

Planning to hit the positive net worth/10K mark in about 3 years, and be debt free in 5 or less.

($113,500) - student debt
$13,500 - retirement
$3,000 - cash savings

= (97,000)

I made it out of the negative six figures!

I am always impressed when people are able to knock off thousands of dollars in debt so quickly.
Way to go.

Thanks! But don't be too impressed.. that was all from my tax refund (abnormal year because of tuition credits). :)
Title: Re: Saving to $10K
Post by: Trifele on March 08, 2017, 05:58:14 AM
I'm still paying off student loans but here's where I am now:

($115,000) - student loans
($3,500) - credit cards
$13,500 - retirement
$1,000 - cash savings

= ($104,000)

Planning to hit the positive net worth/10K mark in about 3 years, and be debt free in 5 or less.

($113,500) - student debt
$13,500 - retirement
$3,000 - cash savings

= (97,000)

I made it out of the negative six figures!

I am always impressed when people are able to knock off thousands of dollars in debt so quickly.
Way to go.

Thanks! But don't be too impressed.. that was all from my tax refund (abnormal year because of tuition credits). :)

You should still pat yourself on the back Reckless -- After all you took your tax refund and threw it against debt.  Nicely done. 
Title: Re: Saving to $10K
Post by: Mongoose on March 08, 2017, 07:11:54 AM
Just stopping by to say that this is the most awesome thread ever.  You guys rock! Saving on a smaller income is a real commitment. Having a buffer is the best thing! It's the best gift you can ever give yourself. We went through a period of unemployment and are happy to be back earning enough to cover our expenses. We just about wiped out our emergency funds and are rebuilding it.

Can I ignore all my numbers and just jump in for my e-fund? We're sitting at $6750 currently.
Title: Re: Saving to $10K
Post by: DieHard_772 on March 08, 2017, 12:50:14 PM
Just stopping by to say that this is the most awesome thread ever.  You guys rock! Saving on a smaller income is a real commitment. Having a buffer is the best thing! It's the best gift you can ever give yourself. We went through a period of unemployment and are happy to be back earning enough to cover our expenses. We just about wiped out our emergency funds and are rebuilding it.

Can I ignore all my numbers and just jump in for my e-fund? We're sitting at $6750 currently.

Mongoose, I'm glad you like the thread.  So do I ;)

You use this how you want to use it.
Personally, I am currently counting total savings (bank, savings, IRAs, HSA), but some people are doing net worth.  What works for you?
Good luck
Title: Re: Saving to $10K
Post by: Trifele on March 10, 2017, 04:55:19 AM
Just stopping by again to check in.   How is everyone doing this week?  I had a pretty good, low-spend week.  Our cars were due for inspection, so that was $60 I had to spend unfortunately. Other than that I did well. Took my lunch to work every day.  And the one day I forgot my lunch, I resisted the temptation to buy lunch and I just waited til dinner.   There were days this week where I reeeaally did not want to go to work, but I did, and I did well on not spending -- so I feel good about that.   

TGIF!  I plan to stay home this weekend, hang out with my family, work in the yard, and unwind.   Relaxation and no money spent.  Yeah!

Hang in there everyone.  You can do it!


Title: Re: Saving to $10K
Post by: Mongoose on March 10, 2017, 07:26:23 AM
No spend weekends relaxing at home are awesome. I love that pace of life.We're doing that this weekend too (but snow may hamper the yard work). :-)
Title: Re: Saving to $10K
Post by: lampstache on March 10, 2017, 12:27:57 PM
Joining in! Need to start somewhere! Still trying to get out of negative net worth...

Investments      $39,533.00
Equity              $30,100.00
Savings             $7,387.00
CC 0%             $(1,300.00)
CC 0%              $(4,600.00)
Auto Loan          $(7,500.00)
Student Loans   $(80,345.00)
   
Total                 $(-16,725.00)

HSA                    $104.00
Investments       $40,780.00
Equity                $30,800.00
Savings              $765.00
CC 0%              $(1,100.00)
Auto Loan          $(7,215.00)
Student Loans   $(74,746.00)
   
Total                 $(-10,612.00)

Good progress. Tax returns made all the difference this past month.
Title: Re: Saving to $10K
Post by: RetirementDreaming on March 10, 2017, 12:35:47 PM
I'm in.  I'm saving $10K in cash.  I save in retirement accounts but for some reason cash is difficult to keep around.

Goal: 10,000
3/10/17: 841

Title: Re: Saving to $10K
Post by: Epor on March 10, 2017, 03:58:56 PM
Joining in! Need to start somewhere! Still trying to get out of negative net worth...

Investments      $39,533.00
Equity              $30,100.00
Savings             $7,387.00
CC 0%             $(1,300.00)
CC 0%              $(4,600.00)
Auto Loan          $(7,500.00)
Student Loans   $(80,345.00)
   
Total                 $(-16,725.00)

HSA                    $104.00
Investments       $40,780.00
Equity                $30,800.00
Savings              $765.00
CC 0%              $(1,100.00)
Auto Loan          $(7,215.00)
Student Loans   $(74,746.00)
   
Total                 $(-10,612.00)

Good progress. Tax returns made all the difference this past month.

What happened to your savings/emergency fund? Did you use it to pay down the student loan/CC #2? Make sure you have a little buffer so when life happens you do not have to charge it to some high interest CC.

Besides that... 6k in one month is AWESOME!
Title: Re: Saving to $10K
Post by: independence on March 11, 2017, 01:34:57 PM
Joining in a little late. Currency conversion is messed up right now so I'm just going to aim for £10,000.

Current savings: £2750
Title: Re: Saving to $10K
Post by: Trifele on March 14, 2017, 06:11:45 AM
Welcome Independence!  Love your user name.  :)
Title: Re: Saving to $10K
Post by: Salim on March 14, 2017, 11:56:15 AM
to be able to join the thread "Race from 10 to 100K".

Who wants to join? :)

Gardo, how's it going? It's been a long time.
Title: Re: Saving to $10K
Post by: independence on March 14, 2017, 02:57:44 PM
Welcome Independence!  Love your user name.  :)

Thank you! Getting there slowly but surely :)
Title: Re: Saving to $10K
Post by: recklesslysober on March 16, 2017, 06:03:09 PM
($113,500) - student debt
$13,500 - retirement
$3,000 - cash

= (97,000)

I made it out of the negative six figures!

($112,300) - student debt
$14,000 - retirement
$4,800 - cash

= (93,500)
Title: Re: Saving to $10K
Post by: southern granny on March 16, 2017, 06:51:38 PM
You  guys rock!  You can do it, because we did it and we never had a large income.  Just remember Ben Franklin's "take care of your pennies and the dollars will take care of themselves. 
Title: Re: Saving to $10K
Post by: Trifele on March 17, 2017, 04:18:43 AM
You  guys rock!  You can do it, because we did it and we never had a large income.  Just remember Ben Franklin's "take care of your pennies and the dollars will take care of themselves.

+1.  You can totally do it!  (We started waaayyy in the hole at 30 years old, with small incomes. If we can do it, you can too!)

@RecklesslySober -- you are on fire!  Pun intended.  Way to go!

TGIF everyone!!  Hope you have a restful and low spend weekend!  :)

Title: Re: Saving to $10K
Post by: recklesslysober on March 17, 2017, 10:28:21 AM
@Trifele Thanks! :D The needle has really been moving these past few months. I can't wait until compound interest is working in my favour instead!
Title: Re: Saving to $10K
Post by: Trifele on March 24, 2017, 05:15:49 AM
TGIF!!  How is everyone doing?   
Title: Re: Saving to $10K
Post by: DieHard_772 on March 24, 2017, 11:41:19 AM
TGIF!!  How is everyone doing?

Doing well, thanks for asking!
Got more money coming in, will obviously be stashing away as much as possible.  Will update soon.
Title: Re: Saving to $10K
Post by: Salim on March 24, 2017, 01:11:56 PM

3/6/17
Emergency fund: $1,000

3/24/17
Emergency fund: $3,000

Saving power is overtaking my spending power! (It's been a long time coming.)

Title: Re: Saving to $10K
Post by: DieHard_772 on March 24, 2017, 01:13:11 PM

3/6/17
Emergency fund: $1,000

3/24/17
Emergency fund: $3,000

Saving power is overtaking my spending power! (It's been a long time coming.)

That is awesome, way to go
Title: Re: Saving to $10K
Post by: Salim on March 24, 2017, 01:18:07 PM

3/6/17
Emergency fund: $1,000

3/24/17
Emergency fund: $3,000

Saving power is overtaking my spending power! (It's been a long time coming.)

That is awesome, way to go

Thanks, DieHard, and same to you. You have made huge strides!
Title: Re: Saving to $10K
Post by: DieHard_772 on March 24, 2017, 01:38:29 PM

Thanks, DieHard, and same to you. You have made huge strides!

Thank you.  Bit by bit
Title: Re: Saving to $10K
Post by: dreaming on March 24, 2017, 01:41:02 PM
I'm in the same boat as retirementdreaming.  While our 401k's have a decent balance we have a hard time increasing our savings.  Some months it's only the $25 I automatically transfer from checking to savings!  I am only including the savings account; the checking account fluctuates too much.

Goal - $10,000

3/24/17 - 2,168
5/31/17 - 2,218 - So far it has only been the $25 that is automatically transferred.  At least it's going in the right direction.
Title: Re: Saving to $10K
Post by: RetirementDreaming on March 24, 2017, 01:51:58 PM
Welcome to the club dreaming!
Title: Re: Saving to $10K
Post by: Zamboni on March 24, 2017, 04:53:57 PM
Stopping by to tell y'all great job! Keep it going!
Title: Re: Saving to $10K
Post by: Zikzin on March 24, 2017, 05:58:08 PM
Joining here as well!

Goal: Roth: 5500
Savings: $5000


Dec 2016 - Opened Roth IRA - current balance $1458
                   savings account - $100


As of Jan2017
Roth IRA - $1939
Savings - $300

As of Feb2017
Roth IRA - $2470
Savings - $500

As of Mar2017
Roth IRA - $2959
Savings - $850

As of Apr2017 - i stopped my ROTH contribution and start piling up cash as of this month. hoping to hit $10k in savings by September
Roth IRA - $3005
Savings - $2101
Title: Re: Saving to $10K
Post by: Salim on March 24, 2017, 07:30:25 PM
Joining here as well!

Goal: Roth: 5500
Savings: $5000


Dec 2016 - Opened Roth IRA - current balance $1458
                   savings account - $100


As of Jan2017
Roth IRA - $1939
Savings - $300

As of Feb2017
Roth IRA - $2470
Savings - $500

As of Mar2017
Roth IRA - $2959
Savings - $850

This is great progress!
Title: Re: Saving to $10K
Post by: BeautifulDay on March 24, 2017, 07:38:12 PM
P2F.  Love this thread. Wasn't long ago when I was in your position. If I'd had your dedication my progress would have been much faster.

 Good luck to you all.
Title: Re: Saving to $10K
Post by: DieHard_772 on March 25, 2017, 11:56:09 AM
Update:

Savings: $1117
IRAs (Betterment):  $5866
Other savings: $470
HSA: $472
My wife's IRA: $643
Other money for investing (going into the HSA): $250
TOTAL: $8820

Update:

Savings: $1117
IRAs (Betterment):  $5877  (+$11)
Other savings: $551 (+$81)
HSA: $724 (+$252)
My wife's IRA: $744 (+$101)
Other money for investing (going into the IRA and HSA): $625.27

TOTAL:  $9639  (+$819)

Title: Re: Saving to $10K
Post by: Trifele on March 25, 2017, 12:16:16 PM
Whoa DieHard!!  Nice progress in less than a month!  Sooo close!
Title: Re: Saving to $10K
Post by: independence on March 25, 2017, 03:57:44 PM
Joining in a little late. Currency conversion is messed up right now so I'm just going to aim for £10,000.

Current savings: £2750

Updated: £3080

I've done kind of terribly these last few weeks in terms of organisation. Carried a balance on my credit cards and even got a bank charge. Ugh.
Title: Re: Saving to $10K
Post by: DieHard_772 on March 26, 2017, 06:54:34 PM
Whoa DieHard!!  Nice progress in less than a month!  Sooo close!

thank you :)
Title: Re: Saving to $10K
Post by: Trifele on March 27, 2017, 03:43:02 AM
See you in the next thread soon.  ;)
Title: Re: Saving to $10K
Post by: haypug16 on March 31, 2017, 09:35:37 AM
I'm In! This is my first ever post in the forum. :D Currently I am at a negative net worth so I have a ways to go but I'm pumped up about finding this group and getting started.

Goal is to increase net worth by $2K a month with a combination of paying down Credit Card and Student Loan debt while increasing saving in my 401K, Investments, Emergency Fund, and Daughters College Savings account.

Current Net worth ($52,848.85)

Title: Re: Saving to $10K
Post by: Salim on March 31, 2017, 09:51:16 AM
Welcome, haypug16!
Title: Re: Saving to $10K
Post by: recklesslysober on March 31, 2017, 09:54:41 AM
I'm In! This is my first ever post in the forum. :D Currently I am at a negative net worth so I have a ways to go but I'm pumped up about finding this group and getting started.

Goal is to increase net worth by $2K a month with a combination of paying down Credit Card and Student Loan debt while increasing saving in my 401K, Investments, Emergency Fund, and Daughters College Savings account.

Current Net worth ($52,848.85)

Welcome! You got this! :) You'll be surprised how fast the ball gets rolling once you start.
Title: Re: Saving to $10K
Post by: Trifele on April 04, 2017, 04:18:33 AM
How's everyone doing?   Hopefully March was good for the 'staches
Title: Re: Saving to $10K
Post by: independence on April 04, 2017, 10:02:02 AM
Mine's doing terribly!

Right now it's at roughly the same as it was but all my extra money this month is going to be taken up by an unexpected expense and it'll likely eat into my savings too. I'm trying my best to not let it eat into it enough that my total goes below £3000 just for psychological reasons but it's going to be irritating to not see the amount go up again until May.

Working on job applications today though so hopefully all of this changes in the near future. ;)
Title: Re: Saving to $10K
Post by: Cowsie on April 04, 2017, 01:23:17 PM
Im in.
Fifteen minutes ago I picked my car up from a repair.
4000 dollars later...

I owe 3k to the bank.
About 2300 in other outstanding debts including but not limited to my credit card.
I have 145ish invested with Stash.
Im noy going to count my emergency funds because I might just dump them on the CC and outstanding debts to knock off interest and month payments...
Tl;dr Im negative, honey. Negative.

Owe: 5300
STASH: 145

Total: -5155
Title: Re: Saving to $10K
Post by: LittleWanderer on April 04, 2017, 03:01:30 PM
Sorry for those of us who are going in the opposite direction.   I need some dental work done, so my EF is going to take a hit later this month. 

And DieHard, you're almost out of here!

I forgot to update for the month of March.  My good news it that I am officially signed up for my 401K plan (at 10% with an 8% match) and it will start coming out of my paycheck next week!! 

Currently:
Emergency fund: $4657
401k: $0
TOTAL: $4657
Title: Re: Saving to $10K
Post by: Trifele on April 05, 2017, 04:46:00 AM
@Independence and Cowsie --

Hang in there.  Everyone on this forum has had months where the 'stache stands still or shrinks.   Many on this forum (myself included) have started way in the negative with a small income.  The way you get through that is just -- keep going.   

Another poster said it early in this thread, but I'll repeat it -- This challenge (to $10,000) is the most important gauntlet of all.  For some it's the hardest.  But when you get there, you'll have created the foundation for everything that follows.  And the gains will start coming faster and faster.

You've got this.  You can do it!   
Title: Re: Saving to $10K
Post by: Salim on April 05, 2017, 05:19:37 AM
Ouch! Dental bills! In the last three years, we have spent half as much on dental bills as on food. Ugh.
Title: Re: Saving to $10K
Post by: ketojenn on April 05, 2017, 07:31:37 AM
Pretty happy with the drift of things so far.  Hoping to completely wipe out the credit cards next month.  How is everyone doing?

Jan 2017

IRA - 250.00
Savings - 195.14
Car loan - (9631.85)
Credit cards - (9649.00)

Debt =(19,280.85)
Savings =445.14
Balance = (18,835.11)

Feb 2017

IRA - 750.00
Savings - 423.77
401K - 278.59
Car loan - (9287.61)
Credit cards - (2318.36)

Debt = (11,605.97)
Savings = 1452.36
Balance = (10,153.61)

March 2017

IRA - 1000.00
Savings - 478.30
401K - 1214.61
Car Loan - (8943.46)
Credit Cards - (3931.11)
Medical - (3460.44)

Debt = (16,335.01)
Savings = 2692.91
Balance - (13,642.10)

We went a little backwards in March.  Medical bills started coming in from my husbands back surgery and we took a trip for our anniversary.  Hopefully we can manage to pay down those cards again this month.
Title: Re: Saving to $10K
Post by: DieHard_772 on April 05, 2017, 08:15:29 PM

We went a little backwards in March.  Medical bills started coming in from my husbands back surgery and we took a trip for our anniversary.  Hopefully we can manage to pay down those cards again this month.

Keep up the good work
Title: Re: Saving to $10K
Post by: haypug16 on April 07, 2017, 08:38:35 AM
Goal is to increase net worth by $2K a month with a combination of paying down Credit Card and Student Loan debt while increasing saving in my 401K, Investments, Emergency Fund, and Daughters College Savings account.

Current Net worth ($52,848.85)

Payday update. I got a reimbursement for a class I took so I was able to throw $2K at my credit card debt! I'm expecting my tax refund shortly and I'll put that all towards Credit Cards too. It's a nice feeling when I've already reached my monthly goal and it's only the 7th of the month. I haven't even updated my 401K balance with this paychecks contribution so I should actually be less than $50K in the red but I'll save that update for another day. :)

Current Net Worth 4/7 = (50,218.59)
Title: Re: Saving to $10K
Post by: mathstache on April 09, 2017, 07:14:50 PM
I'm getting close - but I'm about to have a major unexpected car expense (I should just have a job close enough to bike...). Have been wanting this one for a while.

$3000 checking/savings
$4500 roth ira

Total $7500 2/02/17

Damn that car! $2000 checking/savings $4500 roth ira. Total $6500 3/02/17
Hate to post it going down, but I'm trying to keep myself accountable

Oh gosh... Just went on vacation and bought my fiancee a ring. Thankfully I have some of my money in the Roth so I don't spend it. I've been doing the moonwalk in this forum.
4/9/17 Balance 4615 Roth Checking - Just about 0 (once I pay off the credit cards-which I do in full every month)
Total $4615
Title: Re: Saving to $10K
Post by: Trifele on April 10, 2017, 03:41:34 AM
Goal is to increase net worth by $2K a month with a combination of paying down Credit Card and Student Loan debt while increasing saving in my 401K, Investments, Emergency Fund, and Daughters College Savings account.

Current Net worth ($52,848.85)

Payday update. I got a reimbursement for a class I took so I was able to throw $2K at my credit card debt! I'm expecting my tax refund shortly and I'll put that all towards Credit Cards too. It's a nice feeling when I've already reached my monthly goal and it's only the 7th of the month. I haven't even updated my 401K balance with this paychecks contribution so I should actually be less than $50K in the red but I'll save that update for another day. :)

Current Net Worth 4/7 = (50,218.59)

Nice job, Haypug!  Keep up the great work!

I'm embarrassed to say I made a serious error on our tax withholding last year and we will also be getting a refund (Free loan to the IRS for a year-- yikes).  Every last cent of it is going toward our mortgage, because paying that off is a goal right now.  Will feel fabulous to write that extra big check. 

It's great when throwing money at debt feels better than anything you could possibly buy.   
Title: Re: Saving to $10K
Post by: independence on April 10, 2017, 03:56:46 AM
My unexpected expenses have grown from one to three.

Estimating ~550, ~350 and ~530.

Trying my best to minimise the damage as much as I can. My poor savings! I am making good progress towards getting a job that would mean bumps like this would be much smaller bumps so that's good. I hope hitting 10k will be a breeze after that!
Title: Re: Saving to $10K
Post by: recklesslysober on April 12, 2017, 11:08:10 AM

($112,300) - student debt
$14,000 - retirement
$4,800 - cash

= (93,500)

($110,100) - student debt
$15,100 -retirement
$4,700 - cash

= (90,300)

Just passed the 30% change in net worth mark (since starting YNAB in January 2016). In the last 5 months (when I started my MMM journal) it's +21%. Doubled my net worth increase in half the time?

Next month I'll hit +$25K NW since starting that journal in only 6 months. It doesn't seem real but the math and account balances check out!
Title: Re: Saving to $10K
Post by: Salim on April 12, 2017, 11:48:27 AM
So I'm kind of stuck. Do you put your emergency fund in a separate savings account? My husband doesn't want to open a separate account. He's constantly moving money out of savings to pay bills, so I can't keep track of the longer-term savings.
Title: Re: Saving to $10K
Post by: Salim on April 12, 2017, 01:12:56 PM
lamil, I have those categories in my monthly budget, but DH has his own system and doesn't want to change.

We just talked it over and decided to keep a month's spending, plus a little, in the checking account to make it easier to keep track of the emergency fund in the savings account. We will also keep money we are saving for special purposes in the savings account. It will be easy to keep track of just a few things in the savings account, rather than a whole month's budget plus the emergency fund. Ahh, harmony at home is good.
Title: Re: Saving to $10K
Post by: Cowsie on April 12, 2017, 07:24:33 PM
@Independence and Cowsie --

Hang in there.  Everyone on this forum has had months where the 'stache stands still or shrinks.   Many on this forum (myself included) have started way in the negative with a small income.  The way you get through that is just -- keep going.   

Another poster said it early in this thread, but I'll repeat it -- This challenge (to $10,000) is the most important gauntlet of all.  For some it's the hardest.  But when you get there, you'll have created the foundation for everything that follows.  And the gains will start coming faster and faster.

You've got this.  You can do it!
Its trying, but everything worth doing usually is... Thanks for your support!
Title: Re: Saving to $10K
Post by: DieHard_772 on April 12, 2017, 10:37:19 PM
Hey all,

you are all doing fabulous.  This is the thread on this Forum where I feel completely at home, and completely like I'm doing a good job... lol.
It's not always easy to get going.  I started saving two years ago and slowly climbing to the first plateau called $10k Net Worth.  I believe it will get easier.  Keep the faith and keep going!
Title: Re: Saving to $10K
Post by: LittleWanderer on April 13, 2017, 08:59:46 AM
So I'm kind of stuck. Do you put your emergency fund in a separate savings account? My husband doesn't want to open a separate account. He's constantly moving money out of savings to pay bills, so I can't keep track of the longer-term savings.

Yes, I do.  I keep $1000 in my checking account as my "zero" balance, but the rest goes into a separate account.  I get 1% interest with Ally, which is better than nothing at my local bank.  It's super easy to open an account -- you don't have to go anywhere or talk to anyone!  I don't know why you wouldn't.

Thanks, Diehard!  And yes, I hear you.  It's nice to know that not everyone has a high net worth and that there are others of us in the same boat here!

My first contribution to my 401K came out of my paycheck today!  I have around $5K in savings!  I have zero debt!  Look at me adulting!!!  (I'm 34 years old.  LOL!)
Title: Re: Saving to $10K
Post by: marielle on April 13, 2017, 09:16:24 AM
I'll join! I assume this means net worth of $10k.

Currently mine is around -$10,000.

It was -$26,700 August 2016, so not too bad.

I cringe thinking about how much money I spent in categories that may not have been /completely/ necessary or could have been done for cheaper. Such as $3000 in car maintenance/tools and $1500 to furnish an entire apartment and kitchen (I discovered MMM a few weeks after some of the apartment purchases)...I also bought a brand new bike...

Goal is to increase net worth by $2500+ every month. Currently working on moving to a cheaper place AND within biking distance of work! I've been spending $100-150 in gas a month.
Title: Re: Saving to $10K
Post by: haypug16 on April 14, 2017, 08:33:37 AM
3/31/2017 (52,848.85)
4/7/2017   (50,218.59)
4/14/2017 (48,907.84) Thank you Tax Refund!

Super excited to be out of the Neg $50Ks I still have next week's paycheck for this month and plan to put another $1,500 towards debt. At a rate of $2K a month which is my goal I will hit a positive net worth by June 2019. I hope to get there sooner as I'm throwing all "extra" money at debt and have been watching my spending very closely. Though I do have a honeymoon coming up in August so I'm sure that will slow the process down. It hopefully wont send me in the wrong direction.
Title: Re: Saving to $10K
Post by: DieHard_772 on April 14, 2017, 09:22:20 AM
I'll join! I assume this means net worth of $10k.

Currently mine is around -$10,000.

It was -$26,700 August 2016, so not too bad.

I cringe thinking about how much money I spent in categories that may not have been /completely/ necessary or could have been done for cheaper. Such as $3000 in car maintenance/tools and $1500 to furnish an entire apartment and kitchen (I discovered MMM a few weeks after some of the apartment purchases)...I also bought a brand new bike...

Goal is to increase net worth by $2500+ every month. Currently working on moving to a cheaper place AND within biking distance of work! I've been spending $100-150 in gas a month.

You're on the right track, keep it up
Title: Re: Saving to $10K
Post by: DieHard_772 on April 14, 2017, 09:24:19 AM
3/31/2017 (52,848.85)
4/7/2017   (50,218.59)
4/14/2017 (48,907.84) Thank you Tax Refund!

Super excited to be out of the Neg $50Ks I still have next week's paycheck for this month and plan to put another $1,500 towards debt. At a rate of $2K a month which is my goal I will hit a positive net worth by June 2019. I hope to get there sooner as I'm throwing all "extra" money at debt and have been watching my spending very closely. Though I do have a honeymoon coming up in August so I'm sure that will slow the process down. It hopefully wont send me in the wrong direction.

June 2019... better late than never!
As for the honeymoon... are there any ways you could make that more cost-effective?  Personally, my wife and I didn't go on a honeymoon right after we were married...
however, we took several smaller trips over the next few years that we thought of as mini-honeymoons.  It worked out!
Title: Re: Saving to $10K
Post by: haypug16 on April 14, 2017, 09:33:48 AM
We got married in November so already delayed the trip. Flights are already booked so no going back now. We're taking 3 weeks going from Boston > San Fran > Seattle > Hawaii > Oregon > Boston. Since the flights are already booked that takes care of a large amount of the cost. So i'm thinking it's just going to be another $2K or so for my share which included Hotels, car rentals, food (estimate), and tours. Cutting costs where we can but there are so many awesome things to do it's tough. After this trip we will be "settling" down and trying to make some small humans and will be taking more local inexpensive vacations.
Title: Re: Saving to $10K
Post by: lemonverbena on April 15, 2017, 03:35:17 PM
Jan 2017:
SEP IRA: $225
Car loan: -$7825

Total: -$7600

Late Jan 2017:
SEP IRA: $225
tIRA: $1590
Car loan: -$7825

Total: -$6010


Mid Feb 2017:
SEP IRA: $226
tIRA: $1604
Car loan: -$5593

Total: -$3763

Mar 2017:
SEP IRA: $227
tIRA: $1630
Car loan: -$5593
Roof loan: -$8864

Total: -$12,600

Numbers going way in the wrong direction, but a roof replacement is so overdue and it feels good to be taking care of it. Should have half of it paid off by the end of the month.

Actually, make that by the end of June.

Mid-Apr 2017:
SEP IRA: $231
tIRA: $1624
Car loan: -$5120
Roof loan: -$8864
Emergency fund: $1000

Total: -$11,129
Title: Re: Saving to $10K
Post by: CollegeRaven on April 19, 2017, 11:55:43 PM
My stats for April 2017:

Current Debt (CC mostly)= $400
Savings (All)                   = $3400
Net Worth                      =  $3000
Title: Re: Saving to $10K
Post by: Trifele on April 20, 2017, 03:34:14 AM
Welcome to the forum CollegeRaven! 
Title: Re: Saving to $10K
Post by: Trifele on April 20, 2017, 03:41:23 AM
FYI -- Just noticed that Gardo, who started this thread in 2016, is now over in the "Race to 100k" thread, sitting at 99k.  He/she is almost ready to go to the next thread -- $100k to $250k.   Great job.   :)
Title: Re: Saving to $10K
Post by: LittleWanderer on April 20, 2017, 07:49:40 AM
FYI -- Just noticed that Gardo, who started this thread in 2016, is now over in the "Race to 100k" thread, sitting at 99k.  He/she is almost ready to go to the next thread -- $100k to $250k.   Great job.   :)

Wow!!!  How does one even go from $46 to $99,000 in six months?!  When they started this thread, they said that it would take them "a slow 3 years" to get to $10K.   I'm sure curious of the story behind this...
Title: Re: Saving to $10K
Post by: independence on April 20, 2017, 08:00:01 AM
I've had unexpected expenses left and right recently but finally, some unexpected good news. I've been offered an increase on one of my contracts from 7 hours/week to 27 hours and am in the trial period now. I've also been offered an interview for a full-time job that pays really well. I think I could make both work for at least 6-12 months but hopefully more long term. If I get both, I'll wait however long it takes to max out my ISA then I'll be bolting out of Britain full speed.

I was all set to hunker down where I am for a while and then I found a used syringe in the communal area of my apartment block this morning. I live on the top floor and there's me and two other apartments up here. One guy has been here for years and the other has been here a week, max. The apartment was empty for six months prior to that because I got the last drug dealers kicked out and they've replaced him with another addict who apparently shoots up in the hallway? No thank you. I'm done. Cross your fingers for me about the job interview.
Title: Re: Saving to $10K
Post by: DieHard_772 on April 20, 2017, 09:06:02 AM
FYI -- Just noticed that Gardo, who started this thread in 2016, is now over in the "Race to 100k" thread, sitting at 99k.  He/she is almost ready to go to the next thread -- $100k to $250k.   Great job.   :)

Wooowww
Title: Saving to $10K
Post by: twistedfirestarter on April 24, 2017, 05:59:10 AM
I'd like to join, have made the first payment of £1250 (~$1600) into my shiny new investment account and set it to be reoccurring every month.

Fund invested in is the Vanguard lifestrategy 100% seems like a good all market spread, nothing interesting.

Currently renovating a house which is taking lots of cash but hope to ramp up investment rate whenever possible.
Title: Re: Saving to $10K
Post by: DieHard_772 on April 24, 2017, 11:33:48 AM
I'd like to join, have made the first payment of £1250 (~$1600) into my shiny new investment account and set it to be reoccurring every month.

Fund invested in is the Vanguard lifestrategy 100% seems like a good all market spread, nothing interesting.

Currently renovating a house which is taking lots of cash but hope to ramp up investment rate whenever possible.

Welcome aboard, clickhappy!
Title: Re: Saving to $10K
Post by: Mongoose on April 24, 2017, 02:38:33 PM
I'm jumping back in. I'm just trying to get to $10,000 in emergency funds. We had a work trip that I didn't get reimbursed for yet so my e-fund is down a bit. :-(  I'll update when I get a real number (after the bills clear and hopefully after we get the money back from my work).

I'm really impressed with everyone's determination. This may be the most inspiring thread I've read here.
Title: Re: Saving to $10K
Post by: DieHard_772 on April 24, 2017, 03:43:36 PM
I'm jumping back in. I'm just trying to get to $10,000 in emergency funds. We had a work trip that I didn't get reimbursed for yet so my e-fund is down a bit. :-(  I'll update when I get a real number (after the bills clear and hopefully after we get the money back from my work).

I'm really impressed with everyone's determination. This may be the most inspiring thread I've read here.

Awesome welcome back
Title: Re: Saving to $10K
Post by: DieHard_772 on April 25, 2017, 09:23:38 AM

Update:

Savings: $1117
IRAs (Betterment):  $5877
Other savings: $551
HSA: $724
My wife's IRA: $744
Other money for investing (going into the IRA and HSA): $625.27

TOTAL:  $9639 

Latest update:

Update:

Savings: $1150 (+$33)
IRAs (Betterment):  $6634 (+$757)
Other savings: $711 (+$160)
 
HSA: $985 (+$261)
My wife's IRA: $870  (+$126)
Other money for investing (going into the IRA and HSA): $451

TOTAL:  $10,800

Boom!  Made it to 10k in savings!


Title: Re: Saving to $10K
Post by: Trifele on April 25, 2017, 05:26:25 PM

Update:

Savings: $1117
IRAs (Betterment):  $5877
Other savings: $551
HSA: $724
My wife's IRA: $744
Other money for investing (going into the IRA and HSA): $625.27

TOTAL:  $9639 

Latest update:

Update:

Savings: $1150 (+$33)
IRAs (Betterment):  $6634 (+$757)
Other savings: $711 (+$160)
 
HSA: $985 (+$261)
My wife's IRA: $870  (+$126)
Other money for investing (going into the IRA and HSA): $451

TOTAL:  $10,800

Boom!  Made it to 10k in savings!

DING DING DING!!!!!!!   Congratulations, DieHard!!!!   :)

Title: Re: Saving to $10K
Post by: recklesslysober on April 25, 2017, 05:38:34 PM

Update:

Savings: $1117
IRAs (Betterment):  $5877
Other savings: $551
HSA: $724
My wife's IRA: $744
Other money for investing (going into the IRA and HSA): $625.27

TOTAL:  $9639 

Latest update:

Update:

Savings: $1150 (+$33)
IRAs (Betterment):  $6634 (+$757)
Other savings: $711 (+$160)
 
HSA: $985 (+$261)
My wife's IRA: $870  (+$126)
Other money for investing (going into the IRA and HSA): $451

TOTAL:  $10,800

Boom!  Made it to 10k in savings!

CONGRATULATIONS!!!
Title: Re: Saving to $10K
Post by: haypug16 on April 26, 2017, 08:10:28 AM

Update:

Savings: $1117
IRAs (Betterment):  $5877
Other savings: $551
HSA: $724
My wife's IRA: $744
Other money for investing (going into the IRA and HSA): $625.27

TOTAL:  $9639 

Latest update:

Update:

Savings: $1150 (+$33)
IRAs (Betterment):  $6634 (+$757)
Other savings: $711 (+$160)
 
HSA: $985 (+$261)
My wife's IRA: $870  (+$126)
Other money for investing (going into the IRA and HSA): $451

TOTAL:  $10,800

Boom!  Made it to 10k in savings!

Congrats!
Title: Re: Saving to $10K
Post by: DieHard_772 on April 26, 2017, 10:07:46 AM
Thanks All!  One milestone reached...
And now onto the next...

10K Total Networth!


Current Assets
(This includes all monies, even ones I will be spending soon... not a perfect measure, yet it feels like a good next step)

Money set aside for Self-Employment taxes: $622
Money in Bank Accts and Savings for spending : $4606
Savings:  $1861
My IRAs:  $6634
HSA: $985
Money to be invested (IRAs, HSA):  $451
Wife IRA:   $870

TOTAL ASSETS: $16,029

Current Liabilities
Credit card: $3496
Student loan: $4603

TOTAL LIABILITIES: $8099


CURRENT NETWORTH:  $7930




Title: Re: Saving to $10K
Post by: Goldilocks on April 26, 2017, 10:30:50 AM
My tax refund bumped me over the edge! (It ended up being way more than I had thought because I started a side business)

Savings: $7357
Checking: $1295
IRA: $2127
Total: $10,779

But this will be short lived because I'm going to be reinvesting this back into my side business and probably will be getting a new (to me) car soon. (An unexpected expense after a semi clipped my car 😕)Hopefully I can make it back to 10k in a few months. 😁 Keep going everyone!

Title: Re: Saving to $10K
Post by: DieHard_772 on April 26, 2017, 10:43:00 AM
My tax refund bumped me over the edge! (It ended up being way more than I had thought because I started a side business)

Savings: $7357
Checking: $1295
IRA: $2127
Total: $10,779

But this will be short lived because I'm going to be reinvesting this back into my side business and probably will be getting a new (to me) car soon. (An unexpected expense after a semi clipped my car 😕)Hopefully I can make it back to 10k in a few months. 😁 Keep going everyone!

Thanks for the update Goldilocks.
Way to go
Title: Re: Saving to $10K
Post by: LittleWanderer on April 26, 2017, 11:24:16 AM
WOOHOO!  Congrats, DieHard!  How long do you think it will take you to pay off your debts?

Congrats, Goldilocks!  Sorry to hear about your car.  :(
Title: Re: Saving to $10K
Post by: LittleWanderer on April 29, 2017, 07:18:48 AM
My end of April update:

Emergency fund: $5962
401k: $540 (I need to find out how to log into my account, as this number isn't 100% accurate.  But this is my approximation of my contributions + employer match.)
TOTAL: $6502

I assume this will go down next month or two as I get hit with my dental bills.  I'm currently sporting two temporary crowns; I go back in a few weeks to get the permanent ones.  My dental insurance has a $1000 out of pocket maximum though, so that's good news.  I hate having horrible teeth genetics.  Ugh. 

But onward and upward!  I am officially the richest I have ever been.  I've had this much cash before, but it's always then been transferred toward debt.  I'm so excited to hit $10K!!!  Hoping for early fall. 
Title: Re: Saving to $10K
Post by: haypug16 on April 30, 2017, 09:05:22 AM
3/31/2017 (52,848.85)
4/30/2017 (48,076.67) +4,772,18

Increased my Net-worth by $4,772.18 this month. Thanks to a Tax refund and Tuition Reimbursement. Also moved up my net zero date from July 2019 to May 2019 if I stick to my $2K a month increased net-worth goal. I should then reach $10,000 by October 2019. I have a feeling it will be sooner than that but I'm taking it one month at a time and making sure I hit my short term goals.
Title: Re: Saving to $10K
Post by: DieHard_772 on April 30, 2017, 01:38:51 PM
WOOHOO!  Congrats, DieHard!  How long do you think it will take you to pay off your debts?

Congrats, Goldilocks!  Sorry to hear about your car.  :(

MSquared,
The credit card will be paid off by Aug 2018... Since it is 0 APR until 9/18
The student loan... Within a few years. I have had more urgent priorities, as its apr is about 3.5%

Thanks for asking!
Title: Re: Saving to $10K
Post by: DieHard_772 on April 30, 2017, 01:40:16 PM

But onward and upward!  I am officially the richest I have ever been.  I've had this much cash before, but it's always then been transferred toward debt.  I'm so excited to hit $10K!!!  Hoping for early fall.

That is awesome! Way to go
Title: Re: Saving to $10K
Post by: DieHard_772 on April 30, 2017, 01:41:32 PM
3/31/2017 (52,848.85)
4/30/2017 (48,076.67) +4,772,18

Increased my Net-worth by $4,772.18 this month. Thanks to a Tax refund and Tuition Reimbursement. Also moved up my net zero date from July 2019 to May 2019 if I stick to my $2K a month increased net-worth goal. I should then reach $10,000 by October 2019. I have a feeling it will be sooner than that but I'm taking it one month at a time and making sure I hit my short term goals.

Keep it up, you will be there before you know it
Title: Re: Saving to $10K
Post by: Zikzin on April 30, 2017, 02:05:23 PM
Joining here as well!

Goal: Roth: 5500
Savings: $5000


Dec 2016 - Opened Roth IRA - current balance $1458
                   savings account - $100


As of Jan2017
Roth IRA - $1939
Savings - $300

As of Feb2017
Roth IRA - $2470
Savings - $500

As of Mar2017
Roth IRA - $2959
Savings - $850



As of Apr2017 - i stopped my ROTH contribution and start piling up cash as of this month. hoping to hit $10k in savings by September
Roth IRA - $3005
Savings - $2101
Title: Re: Saving to $10K
Post by: Salvo on May 04, 2017, 10:33:22 AM
Joining this; hoping to have my credit card debt eliminated by end of year, a 401k and Roth IRA started also.  Company offers 401k but no employer match option, so I'm waiting a few more months until most debt is settled to open that.  Have to start paying schools loans back next month also, looking at what payments will minimize interest the most.

For this I'm not counting home or student loan amounts, because both of those are lower priority than my credit card, and the payment cycles have just started (bought house last year).  Once I have some emergency cash and investments built up I'll focus on loans and mortgage.  Hopefully by fall!

May 2017
CC Debt : -$2187 (1st priority 21.68% APR), -$3068 (no interest for 3 more months), -$2788 (7.5% APR financing, 2nd priority)
Cash : $367
Stocks (Robinhood + Betterment) : $101, $688

I expect the next few months to see a massive drop in the credit card debt and savings to really take off.
-My monthly expenses have been dropping as I try and trim.
-The place I work has tasked me with recycling old unused equipment which will net a few thousand $.  May have another site to clean out also!
-Spent a lot in the past two months on automotive parts (wheel bearings, tires, alignment, registration on one car; gas tank straps and o2 sensors on another vehicle) which was unexpected but absolutely necessary.
-Proposed this January to my girlfriend. so we began picking up decorations and other items for that next summer, but have already found most of what we need thankfully!
-Have a room full of ebay/CL items that I've been slacking on posting the past few months.  Just started listing again and already have several hundred in sales!


Looking forward to next months numbers, so happy to have found this site!
Title: Re: Saving to $10K
Post by: independence on May 04, 2017, 12:50:31 PM
I'd like some opinions of people at a similar savings level to me (and those with higher amounts about what they would have done). I've been asked for a loan of £1000 to be paid back over the following four months. It's somewhere between a quarter and a third of my savings. I think there's a good chance of getting it back but it would likely be at least a little delayed so 6-8 months is more realistic.

At this level of savings, is your policy 'no loans at all' or do you have some other decision making process?

For a bit of backstory, even at my very low savings level I'm still the most financially responsible in my family and they are very dependent on me despite me trying my best to teach them good habits.
Title: Re: Saving to $10K
Post by: Optimiser on May 04, 2017, 01:28:11 PM
I'd like some opinions of people at a similar savings level to me (and those with higher amounts about what they would have done). I've been asked for a loan of £1000 to be paid back over the following four months. It's somewhere between a quarter and a third of my savings. I think there's a good chance of getting it back but it would likely be at least a little delayed so 6-8 months is more realistic.

At this level of savings, is your policy 'no loans at all' or do you have some other decision making process?

For a bit of backstory, even at my very low savings level I'm still the most financially responsible in my family and they are very dependent on me despite me trying my best to teach them good habits.

Its not a loan its a gift.  If you're cool with that and never seeing the money again, go ahead.  If not, do not go ahead.

You'll probably be asked to loan more money in the future if you don't set good boundaries now.
Title: Re: Saving to $10K
Post by: BeautifulDay on May 04, 2017, 08:37:16 PM
Its not a loan its a gift.  If you're cool with that and never seeing the money again, go ahead.  If not, do not go ahead.
+1

I don't like to loan to family or friends.  Many years ago I did loan my brother about $500 and it caused some stress in our relationship.  $500 is a lot of money when you're in college.  More recently I have given money to my younger siblings when they needed it. But they would never ask for that.  It was always my idea. And it is only something I would do if I feel I can afford it.

25% to 33% of your savings is a lot to give away.
Title: Re: Saving to $10K
Post by: DieHard_772 on May 04, 2017, 09:18:08 PM

Its not a loan its a gift.  If you're cool with that and never seeing the money again, go ahead.  If not, do not go ahead.

+1
This is the crux of the matter.  If you are cool with losing a third of your savings, then fine.
On the other hand, that savings is mad IMPORTANT, bro.  I would be very careful with it.
Title: Re: Saving to $10K
Post by: DieHard_772 on May 04, 2017, 09:18:36 PM

You'll probably be asked to loan more money in the future if you don't set good boundaries now.

Yeeeeeesssssss
Title: Re: Saving to $10K
Post by: DieHard_772 on May 04, 2017, 09:19:28 PM
Joining this; hoping to have my credit card debt eliminated by end of year, a 401k and Roth IRA started also.  Company offers 401k but no employer match option, so I'm waiting a few more months until most debt is settled to open that.  Have to start paying schools loans back next month also, looking at what payments will minimize interest the most.

For this I'm not counting home or student loan amounts, because both of those are lower priority than my credit card, and the payment cycles have just started (bought house last year).  Once I have some emergency cash and investments built up I'll focus on loans and mortgage.  Hopefully by fall!

May 2017
CC Debt : -$2187 (1st priority 21.68% APR), -$3068 (no interest for 3 more months), -$2788 (7.5% APR financing, 2nd priority)
Cash : $367
Stocks (Robinhood + Betterment) : $101, $688

I expect the next few months to see a massive drop in the credit card debt and savings to really take off.
-My monthly expenses have been dropping as I try and trim.
-The place I work has tasked me with recycling old unused equipment which will net a few thousand $.  May have another site to clean out also!
-Spent a lot in the past two months on automotive parts (wheel bearings, tires, alignment, registration on one car; gas tank straps and o2 sensors on another vehicle) which was unexpected but absolutely necessary.
-Proposed this January to my girlfriend. so we began picking up decorations and other items for that next summer, but have already found most of what we need thankfully!
-Have a room full of ebay/CL items that I've been slacking on posting the past few months.  Just started listing again and already have several hundred in sales!


Looking forward to next months numbers, so happy to have found this site!

Awesome, Salvo, welcome aboard!
We're the happiest Mustachians who got nothing to lose!
It's all uphill from here! :)
Title: Re: Saving to $10K
Post by: RetirementDreaming on May 05, 2017, 02:42:39 PM
Put my entire bonus in the savings account.  I'm half way there!  $5243
Title: Re: Saving to $10K
Post by: Trifele on May 05, 2017, 03:00:46 PM
Put my entire bonus in the savings account.  I'm half way there!  $5243

Nice job!
Title: Re: Saving to $10K
Post by: lexde on May 05, 2017, 07:50:35 PM
I'm almost there. So close, and yet so far.

My current NW is about -16K.

I'm saving to a 10K emergency fund that I will eventually build up to 14K since that's about 6 months of expenses for me.

Right now I have $7250/10K saved up and am making large student loan debt payments, so 2K goes to loans, and 500 goes to savings each month. I'd love to spend 2 or 3 months and just get a nice cushy savings account, but I very much want to get out of debt ASAP so I'm prioritizing that. With 2K-per-month payments I'm still looking at August 2019 payoff, so I'm trying to just scrape every penny and put it over into my loans to possibly pay it off faster.

Should I be prioritizing a 6-month e-fund? I have a stable job and am still putting about 500/mo into savings (plus 401K etc)
Title: Re: Saving to $10K
Post by: ptgearguy on May 05, 2017, 11:49:26 PM
I just want to say good work to everyone working here. Not long ago (well it feels that way now) I was heavily stuck in student debt and made the choice to change. I am debt free and finally saving money for the first time in my life. You can do it, but you have to believe in yourself.
Title: Re: Saving to $10K
Post by: independence on May 06, 2017, 04:18:55 PM
Thank you all for your opinions re: loans! They were very helpful to hear.

Everyone in the thread is killing it with the savings recently. I'm waiting to hear about a new work contract. Fingers crossed so I can catch up with you all ;)
Title: Re: Saving to $10K
Post by: DieHard_772 on May 08, 2017, 01:41:12 PM
Savings took a hit because we had to replace our refrigerator.   -$540

And yet... so glad to have that money saved for just this occasion.

(A couple of years ago that would not have been the case)
Title: Re: Saving to $10K
Post by: haypug16 on May 13, 2017, 10:57:55 AM
Very excited that my interest on one of my credit cards was $80 less this month than last due to the huge amount of money (~$5K) I've put towards paying it down over the last 2 months. It'll be so nice when my monthly Credit Card Interest is $0!
Title: Re: Saving to $10K
Post by: DieHard_772 on May 13, 2017, 07:41:49 PM
Very excited that my interest on one of my credit cards was $80 less this month than last due to the huge amount of money (~$5K) I've put towards paying it down over the last 2 months. It'll be so nice when my monthly Credit Card Interest is $0!

That is awesome!  good job
Title: Re: Saving to $10K
Post by: Trifele on May 14, 2017, 04:39:06 AM
Very excited that my interest on one of my credit cards was $80 less this month than last due to the huge amount of money (~$5K) I've put towards paying it down over the last 2 months. It'll be so nice when my monthly Credit Card Interest is $0!

You are killing it, Haypug!
Title: Re: Saving to $10K
Post by: DieHard_772 on May 17, 2017, 02:30:45 PM


Latest update:

Update:

Savings: $1150 (+$33)
IRAs (Betterment):  $6634 (+$757)
Other savings: $711 (+$160)
 
HSA: $985 (+$261)
My wife's IRA: $870  (+$126)
Other money for investing (going into the IRA and HSA): $451

TOTAL:  $10,800

Boom!  Made it to 10k in savings!

Latest update to our savings...
I added a few of my wife's accounts:

Savings: $609 (-$541)*
IRAs (Betterment):  $6935 (+$301)
Other savings: $2161 (+$1450)**
 
HSA: $1152 (+$167)
My wife's IRA: $1023  (+$153)


TOTAL SAVINGS:  $11,765 (+$965)

*We bought a new refrigerator, so savings took a dip.
**This includes a few of my wife's savings accounts, added here for the first time. hence the jump.


Title: Re: Saving to $10K
Post by: DieHard_772 on May 17, 2017, 02:38:30 PM
Thanks All!  One milestone reached...
And now onto the next...

10K Total Networth!


Current Assets
(This includes all monies, even ones I will be spending soon... not a perfect measure, yet it feels like a good next step)

Money set aside for Self-Employment taxes: $622
Money in Bank Accts and Savings for spending : $4606
Savings:  $1861
My IRAs:  $6634
HSA: $985
Money to be invested (IRAs, HSA):  $451
Wife IRA:   $870

TOTAL ASSETS: $16,029

Current Liabilities
Credit card: $3496
Student loan: $4603

TOTAL LIABILITIES: $8099


CURRENT NETWORTH:  $7930

Okay the latest on our net worth:

Current Assets
(This includes all monies, even ones I will be spending soon... not a perfect measure, yet it feels like a good next step)

Money set aside for Self-Employment taxes: $808
Money in Bank Accts and Savings for spending : $3093
Savings:  $2770
My IRAs:  $6935
HSA: $1152
Wife IRA:   $1023

TOTAL ASSETS: $15,780

Current Liabilities
Credit card: $3472
Student loan: $4602

TOTAL LIABILITIES: $8073


CURRENT NETWORTH:  $7708


Not as much progress as I would have liked, and I realize that it hasn't been a full month since I updated this.
Still, the trend is upward!
Title: Re: Saving to $10K
Post by: Gardo on May 17, 2017, 08:39:55 PM
Guys I want to congratulate all of you for sticking with the thread.  I browsed through and saw some great updates in here. 

I on other hand got creamed with HVAC replacement ($4400) and have paid it on installments but definitely got me in a hole.  I should be able to finish paying it September and then I can go back here and start saving again. 

Congrats to those who graduated and went to the $10K to $100K race.  I myself had joined on there but it was for my 401K.
Title: Re: Saving to $10K
Post by: Trifele on May 24, 2017, 05:35:11 AM
Haha, Gardo -- thanks for checking in!  Lots of folks were wondering where you'd gotten to.   And the mystery is solved as to how you could hop over to the next thread so fast!  I've seen that on other threads as well -- we can use challenges selectively, everything from building up a cash reserve to looking at overall total net worth.  Congratulations on your progress!

How is everyone else doing?   Has May been a good month so far?


Title: Re: Saving to $10K
Post by: Mongoose on May 24, 2017, 06:52:01 AM
This is by far my favorite thread to read. You guys rock! I'll update my e-fund goal numbers after payday.

I'm almost there. So close, and yet so far.

My current NW is about -16K.

I'm saving to a 10K emergency fund that I will eventually build up to 14K since that's about 6 months of expenses for me.

Right now I have $7250/10K saved up and am making large student loan debt payments, so 2K goes to loans, and 500 goes to savings each month. I'd love to spend 2 or 3 months and just get a nice cushy savings account, but I very much want to get out of debt ASAP so I'm prioritizing that. With 2K-per-month payments I'm still looking at August 2019 payoff, so I'm trying to just scrape every penny and put it over into my loans to possibly pay it off faster.

Should I be prioritizing a 6-month e-fund? I have a stable job and am still putting about 500/mo into savings (plus 401K etc)

Your current strategy sounds good. You should hit your e-fund goal of 6 months saved in a little over a year with your current savings rate. And the debt is presumably costing money in interest so it makes sense to prioritize that. Once you hit a comfortable e-fund goal, you can dump the extra $500 into the debt and clear it faster.

It's good to have some savings when you get the debt paid off. We paid ours off three times...the first two didn't "take" because we didn't have much saved and had to use credit to deal with car replacement and basic expenses during an unexpected period of unemployment. This last time we're still staying out, I think because we did it backwards...got some savings ($5k) then dumped the debt.
Title: Re: Saving to $10K
Post by: LittleWanderer on May 25, 2017, 06:46:46 AM
I myself had joined on there but it was for my 401K.

Now that makes much more sense!  :)  Sorry to hear about the mega HVAC bill though. 

Not a good month for me money wise -- $1400 dental bill for two crowns.  Ouch.  I also have $1000 that isn't in my savings anymore, but should be flowing back in once I sell my bike.  (Long story short -- I bought a different bike, but will be selling mine.  Hoping to break even-ish.)  So that cash is tied up in an extra bike in the garage at the moment.  BUT!!! But!  There is a good side of all this.  I had the cash!  I had the cash to pay a $1400 bill and not resort to credit cards.  I had the cash to be able to swap bikes when I found exactly what I had been looking for.  And I still have a good chunk of money in my e-fund.  So really, I can't complain too much.  Will post concrete numbers at month end.  It'll be way down, but I will build back up quickly. 
Title: Re: Saving to $10K
Post by: DieHard_772 on May 26, 2017, 08:01:07 AM
But!  There is a good side of all this.  I had the cash!  I had the cash to pay a $1400 bill and not resort to credit cards.  I had the cash to be able to swap bikes when I found exactly what I had been looking for.  And I still have a good chunk of money in my e-fund.  So really, I can't complain too much.  Will post concrete numbers at month end.  It'll be way down, but I will build back up quickly.

That is awesome,  I bought a refrigerator earlier in the month, and it felt good to pay cash too.
 congratulations
Title: Re: Saving to $10K
Post by: vseddie on May 29, 2017, 07:43:34 AM
Will be using this for my 10k emergency fund goal ive started. Should be able to save 250/week for now and then 400/week if i can find someone to rent a room in my house.

Here we go!

May 2017 $439
Title: Re: Saving to $10K
Post by: msmarieh on May 29, 2017, 10:08:18 AM
Hello all! I'm jumping in on this thread. :)  All my net worth is tied up in house/retirement savings. I need to build up some cash/emergency funds. My goal is to hit $10K before December.

$4,336.60 Savings
$1,674.28 Money Market
$6,010.88 TOTAL
Title: Re: Saving to $10K
Post by: LittleWanderer on May 31, 2017, 10:22:03 AM
End of May update:

Emergency fund: $3766
401k: $783
TOTAL: $4549

Onward and upward next month!
Title: Re: Saving to $10K
Post by: haypug16 on May 31, 2017, 12:45:46 PM
End of Month Update

3/31/2017 (52,848.85)
4/30/2017 (48,076.67)
5/31/2017 (47,110.22) +966.45

Didn't hit my $2K goal for this month but still close to $1,000 increase in net-worth so I'm going in the right direction. I get 3 checks in June (normally I just get 2) so I plan to make up the difference and increase my net-worth by $3,000 in June, maybe more if I can swing it. I should still be able to hit positive net-worth by May 2019 then $10K and move on to the next challenge by October 2019.

How was everyone else's month?
Title: Re: Saving to $10K
Post by: DieHard_772 on June 02, 2017, 10:28:00 AM
Moving right along, haypug16! 

Here's my update:




Current Assets
(This includes all monies, even ones I will be spending soon... not a perfect measure, yet it feels like a good next step)

Money set aside for Self-Employment taxes: $808
Money in Bank Accts and Savings for spending : $3093
Savings:  $2770
My IRAs:  $6935
HSA: $1152
Wife IRA:   $1023

TOTAL ASSETS: $15,780

Current Liabilities
Credit card: $3472
Student loan: $4602

TOTAL LIABILITIES: $8073


CURRENT NETWORTH:  $7708


Not as much progress as I would have liked, and I realize that it hasn't been a full month since I updated this.
Still, the trend is upward!

AS of 6/2/17:

Money set aside for Self-Employment taxes: $1162 (Doesn't include nearly $1000 my wife also has set aside for it, which is reflected in "Savings" below)
Money in Bank Accts and Savings for spending : $4569
Savings:  $3348
My IRAs:  $7042
HSA: $1166
Wife IRA:   $1038
Money to be invested this month:  $516

TOTAL ASSETS: $18842

Current Liabilities
Credit card: $3365
Student loan: $4526

TOTAL LIABILITIES: $7892


CURRENT NETWORTH:  $10,950!

I'll enjoy it while we got it: this includes several thousand dollars that are going to go out this month for expenses, so the networth will soon shrink.
Yet it's nice to have passed the $10k networth for at least a little while... soon it will be permanent!

Title: Re: Saving to $10K
Post by: Trifele on June 03, 2017, 04:36:13 AM
Moving right along, haypug16! 

Here's my update:




Current Assets
(This includes all monies, even ones I will be spending soon... not a perfect measure, yet it feels like a good next step)

Money set aside for Self-Employment taxes: $808
Money in Bank Accts and Savings for spending : $3093
Savings:  $2770
My IRAs:  $6935
HSA: $1152
Wife IRA:   $1023

TOTAL ASSETS: $15,780

Current Liabilities
Credit card: $3472
Student loan: $4602

TOTAL LIABILITIES: $8073


CURRENT NETWORTH:  $7708


Not as much progress as I would have liked, and I realize that it hasn't been a full month since I updated this.
Still, the trend is upward!

AS of 6/2/17:

Money set aside for Self-Employment taxes: $1162 (Doesn't include nearly $1000 my wife also has set aside for it, which is reflected in "Savings" below)
Money in Bank Accts and Savings for spending : $4569
Savings:  $3348
My IRAs:  $7042
HSA: $1166
Wife IRA:   $1038
Money to be invested this month:  $516

TOTAL ASSETS: $18842

Current Liabilities
Credit card: $3365
Student loan: $4526

TOTAL LIABILITIES: $7892


CURRENT NETWORTH:  $10,950!

I'll enjoy it while we got it: this includes several thousand dollars that are going to go out this month for expenses, so the networth will soon shrink.
Yet it's nice to have passed the $10k networth for at least a little while... soon it will be permanent!

Woo Hoo DieHard!!  Congratulations!   
Title: Re: Saving to $10K
Post by: MissPiggy on June 03, 2017, 09:25:24 AM
Jumping in here join!

Current cash position: $1000
Net Worth:  NEGATIVE -$11,800 eek :/

While I have a small amount of cash squirrelled away for another purpose, I have no set-aside money for an emergency fund. So, I'm joining in with the goal of building this emergency fund from essentially $0 to $10k.
Title: Re: Saving to $10K
Post by: msmarieh on June 03, 2017, 11:04:20 AM
My goal is to hit $10K before December for cash on hand.

This month will include paying for a sidewalk and surgery for my kitty, so the number will actually go down.

Update:

$6,487.92 Savings
$1,658.19 Money Market
$8,146.11 TOTAL
Title: Re: Saving to $10K
Post by: DieHard_772 on June 03, 2017, 11:32:35 AM

Woo Hoo DieHard!!  Congratulations!


Thanks Trifele
It means a lot.
A few years ago, even this milestone seemed so far away.
Title: Re: Saving to $10K
Post by: Trifele on June 04, 2017, 04:41:55 AM

Woo Hoo DieHard!!  Congratulations!


Thanks Trifele
It means a lot.
A few years ago, even this milestone seemed so far away.

Will be there to cheer you on in the next thread!  ;)
Title: Re: Saving to $10K
Post by: haypug16 on June 06, 2017, 12:16:48 PM
Moving right along, haypug16! 

Thanks DieHard and nice job hitting $10K even if its temporary at the moment. I can't wait to post my June update.
Title: Re: Saving to $10K
Post by: DieHard_772 on June 09, 2017, 06:51:59 PM
Moving right along, haypug16! 

Thanks DieHard and nice job hitting $10K even if its temporary at the moment. I can't wait to post my June update.

Thank you,
I can't wait until I can save more of my income.
I can't wait until I can max out my IRAs, then have my wife max out hers.
I can't wait until I can max out our HSA
I can't wait until I can add extra savings every month to our savings account AND get all other expenses covered (including my Qapital daily and weekly savings) AND have extra in my bank account

Looking forward to your update too..  ;)
Title: Re: Saving to $10K
Post by: DieHard_772 on June 09, 2017, 06:52:53 PM
Today I saw that, combined, our investments are only a few hundred under $10,000... for the first time ever
:)
Title: Re: Saving to $10K
Post by: jed2009 on June 21, 2017, 12:15:33 PM
Hey guys!

Love this thread.  The intial post about that first 10k was definitely awesome.  I am over that mark now, but not too long ago started with just some cash in hand.  Hoping sharing my past few years can be some motivation!  Income grew from 30k in 2014 and 2015, to 40k in 2016 and now 60k for 2017.

Sept 2014:
Cash: $3,700
401k basis: $215
IRA: N/A
Total: $3,915

Sept 2015:
Cash: $2,500
401k basis: $1,800
IRA basis: $4,600
Total: $8,900

Sept 2016:
Cash: $4,800
401k basis: $6,500
IRA basis: $6,700
Total: $18,000

Last month:
Cash: $6,200
401k basis: $10,200
IRA basis: $8,900
Pension value: $680
Total: $25,980
Title: Re: Saving to $10K
Post by: DieHard_772 on June 21, 2017, 03:27:12 PM
Hey guys!

Love this thread.  The intial post about that first 10k was definitely awesome.  I am over that mark now, but not too long ago started with just some cash in hand.  Hoping sharing my past few years can be some motivation!  Income grew from 30k in 2014 and 2015, to 40k in 2016 and now 60k for 2017.

Sept 2014:
Cash: $3,700
401k basis: $215
IRA: N/A
Total: $3,915

Sept 2015:
Cash: $2,500
401k basis: $1,800
IRA basis: $4,600
Total: $8,900

Sept 2016:
Cash: $4,800
401k basis: $6,500
IRA basis: $6,700
Total: $18,000

Last month:
Cash: $6,200
401k basis: $10,200
IRA basis: $8,900
Pension value: $680
Total: $25,980

Awesome jed2009, way to go, that is great.

I started savings/investing about six months after you, and I'm so glad I got going too

way to reach 25K! 
Title: Re: Saving to $10K
Post by: lemonverbena on June 22, 2017, 01:10:45 PM
Jan 2017:
SEP IRA: $225
Car loan: -$7825

Total: -$7600


Late Jan 2017:
SEP IRA: $225
tIRA: $1590
Car loan: -$7825

Total: -$6010


Mid Feb 2017:
SEP IRA: $226
tIRA: $1604
Car loan: -$5593

Total: -$3763

Mar 2017:
SEP IRA: $227
tIRA: $1630
Car loan: -$5593
Roof loan: -$8864

Total: -$12,600

Numbers going way in the wrong direction, but a roof replacement is so overdue and it feels good to be taking care of it. Should have half of it paid off by the end of the month.

Actually, make that by the end of June.

Mid-Apr 2017:
SEP IRA: $231
tIRA: $1624
Car loan: -$5120
Roof loan: -$8864
Emergency fund: $1000

Total: -$11,129

Late-Jun 2017:
SEP IRA: $245
tIRA: $1702
Car loan: -$4645
Roof loan: -$3864
Emergency fund: $1000

Total: -$5,562

Not even close to zero yet, but moving in the right direction again!
Title: Re: Saving to $10K
Post by: haypug16 on June 27, 2017, 09:21:15 AM
I had a very expensive month! $1,600 for Car Insurance for the year. I pay for the full year up front. That was a big hit, then I had to take my cat to the vest $300 later she's doing great for 18 :) Threw a surprise party for my dad's 70th birthday that was a couple hundred, and a few other things here and there means I'll be lucky to break even this month. I'll post my official numbers on Friday but not the great month I was hoping for but what's done is done and July should not be too bad *knock on wood*

Edit - Also forgot about the $700 for a crown (the other $700 will be paid in July)
Title: Re: Saving to $10K
Post by: Trifele on June 27, 2017, 10:11:57 AM
I had a very expensive month! $1,600 for Car Insurance for the year. I pay for the full year up front. That was a big hit, then I had to take my cat to the vest $300 later she's doing great for 18 :) Threw a surprise party for my dad's 70th birthday that was a couple hundred, and a few other things here and there means I'll be lucky to break even this month. I'll post my official numbers on Friday but not the great month I was hoping for but what's done is done and July should not be too bad *knock on wood*

Edit - Also forgot about the $700 for a crown (the other $700 will be paid in July)

We had a very high-spend month as well due to some high one-time expenses.  The important thing is not to let it derail you . . .  It's just a bump in the road, so we clear it and move on.  :)

Title: Re: Saving to $10K
Post by: LittleWanderer on June 28, 2017, 02:45:59 PM
I had a very expensive month! $1,600 for Car Insurance for the year. I pay for the full year up front. That was a big hit, then I had to take my cat to the vest $300 later she's doing great for 18 :) Threw a surprise party for my dad's 70th birthday that was a couple hundred, and a few other things here and there means I'll be lucky to break even this month. I'll post my official numbers on Friday but not the great month I was hoping for but what's done is done and July should not be too bad *knock on wood*

Edit - Also forgot about the $700 for a crown (the other $700 will be paid in July)

Welcome to the dental expenses club with me!  :sad high five:  Glad your kitty is doing okay!

I also had an expensive month, but my net worth still went up (even if only a little.)  At least I'm still heading up.  I need an uber frugal July!
Title: Re: Saving to $10K
Post by: DieHard_772 on June 28, 2017, 03:15:52 PM
I had a very expensive month! $1,600 for Car Insurance for the year. I pay for the full year up front. That was a big hit, then I had to take my cat to the vest $300 later she's doing great for 18 :) Threw a surprise party for my dad's 70th birthday that was a couple hundred, and a few other things here and there means I'll be lucky to break even this month. I'll post my official numbers on Friday but not the great month I was hoping for but what's done is done and July should not be too bad *knock on wood*

Edit - Also forgot about the $700 for a crown (the other $700 will be paid in July)

Welcome to the dental expenses club with me!  :sad high five:  Glad your kitty is doing okay!

I also had an expensive month, but my net worth still went up (even if only a little.)  At least I'm still heading up.  I need an uber frugal July!

My income took a nose dive due to the loss of multiple clients.. and for awhile there massive panic ensued.  I felt like I was experiencing my own personal market crash, lol.
Anyway, determined to pick up the pieces and keep pressing forward.
Title: Re: Saving to $10K
Post by: Trifele on June 30, 2017, 04:24:07 AM
Happy Friday and happy end of the month everyone!   How did everyone do?   Or are you -- like me -- going to wait until tomorrow to calculate your numbers, in hopes that the market comes back up today?  ha ha

July is a brand new opportunity for us to make headway.  Onward and upward!
Title: Re: Saving to $10K
Post by: haypug16 on June 30, 2017, 08:35:25 AM
3/31/2017 (52,848.85)
4/30/2017 (48,076.67)
5/31/2017 (47,110.22)
6/30/2017 (46,540.28) +605.94
4 month average Net Worth increase = $1,577.14 (this makes me very happy)

Not bad considering all the expenses I had this month. Going in the right direction. Most of the increase is from reducing my credit card debt by $420. I hope everyone else had a good month and here's to an even better July!
Title: Re: Saving to $10K
Post by: recklesslysober on June 30, 2017, 09:59:30 AM
Quote from: recklesslysober on April 12, 2017, 11:08:10 AM

($110,100) - student debt
$15,100 -retirement
$4,700 - cash

= (90,300)

I think I forgot to post in May. Still steadily working away at the debt.

June

($106,300) - student debt
$16,700 -retirement
$3,000 - cash

= (86,600)
Title: Re: Saving to $10K
Post by: Trifele on June 30, 2017, 12:53:28 PM

($110,100) - student debt
$15,100 -retirement
$4,700 - cash

= (90,300)



I think I forgot to post in May. Still steadily working away at the debt.

June

($106,300) - student debt
$16,700 -retirement
$3,000 - cash

= (86,600)

Nice job!  Way to slug away at the student loans RS.  You'll be leaving six figures behind you soon!
Title: Re: Saving to $10K
Post by: recklesslysober on June 30, 2017, 01:11:36 PM
Nice job!  Way to slug away at the student loans RS.  You'll be leaving six figures behind you soon!

Thanks!!! I can't wait. At $105,700 today, getting a head start on July payments.

The plan is $99,900 on September 29 at the latest. ;)
Title: Re: Saving to $10K
Post by: Bella78 on July 01, 2017, 06:25:53 AM
Joining in.  Currently working towards a positive net worth. 

Debts = (35,803.96)
Assets = 5412.64

Total = (30391.30)
Title: Re: Saving to $10K
Post by: Trifele on July 01, 2017, 10:52:04 AM
Welcome Bella78! 

There are lots of us that started way further in the negative.   You've totally got this!
Title: Race to 10k
Post by: runbikerun on July 01, 2017, 11:29:17 AM
I'm in, at least to make myself as accountable as possible for any shortfalls or slip-ups. Aiming to hit a €10k emergency fund to ensure I'm covered for six months' expenses if anything happens to my job.

Balance as of 1st July 2017: €3,540.
Target: saving €420 per month.
Target date for clearing the €10k figure: October 2018.

Any raises between now and then will be directed straight into the same place to speed up the process.
Title: Re: Saving to $10K
Post by: Trifele on July 01, 2017, 11:53:22 AM
Welcome, RunBikeRun!
Title: Re: Saving to $10K
Post by: BeautifulDay on July 01, 2017, 03:17:12 PM
I love looking at this thread.  You guys are killing it.  Getting over this first hurdle is the hardest part but you'll get there!

And Trifele, thanks for being the constant encourager on this and several of the other race threads. 
Title: Re: Saving to $10K
Post by: DieHard_772 on July 01, 2017, 05:24:16 PM
AS of 6/2/17:

Money set aside for Self-Employment taxes: $1162 (Doesn't include nearly $1000 my wife also has set aside for it, which is reflected in "Savings" below)
Money in Bank Accts and Savings for spending : $4569
Savings:  $3348
My IRAs:  $7042
HSA: $1166
Wife IRA:   $1038
Money to be invested this month:  $516

TOTAL ASSETS: $18842

Current Liabilities
Credit card: $3365
Student loan: $4526

TOTAL LIABILITIES: $7892


CURRENT NETWORTH:  $10,950!

I'll enjoy it while we got it: this includes several thousand dollars that are going to go out this month for expenses, so the networth will soon shrink.
Yet it's nice to have passed the $10k networth for at least a little while... soon it will be permanent!

Oy, what a month.  I won't even go into it, I'm just glad to be done with it
Moving on...


Money set aside for Self-Employment taxes: $95
Money in Bank Accts and Savings for spending : $3948
Our Savings:  $2836
My IRAs:  $7284*
HSA: $1333
Wife IRA:   $1176
Money to be invested this month:  $129

*My IRAs are currently being transferred from Betterment to Vanguard, so I don't know the exact number.  Hopefully transfer will complete early next week.

TOTAL ASSETS: $16802

Current Liabilities
Credit card: $3262**
Student loan: $4480

**doesn't include about $160 I used a card to charge new glasses.  But that is 0% apr for 6 months and will be paid off.

TOTAL LIABILITIES: $7743


CURRENT NETWORTH:  $9059


This last month was definitely a chance to practice non-attachment.  Things really did not work out how I hoped, yet as they say,
what doesn't kill you makes you stronger... Onward and upward!


Title: Re: Saving to $10K
Post by: DieHard_772 on July 01, 2017, 05:25:39 PM
I love looking at this thread.  You guys are killing it.  Getting over this first hurdle is the hardest part but you'll get there!

And Trifele, thanks for being the constant encourager on this and several of the other race threads.

I LOVE this thread... it is like my lifeblood, keeping me focused
Title: Re: Saving to $10K
Post by: Slanhirn on July 04, 2017, 10:06:58 AM
Hi - I'm in!

I'm aiming for £10K net worth which should happen hopefully towards spring 2018.

I started really focusing on my net worth last august when I started with -£13K (student loans were -£19K)!

June

Tracker funds = £8,558
Pension = £1,300
Emergency savings = £4,984

Assets = £14,842

Student loan = (£16,791) - interest at 1.25%
Other loan = (£1,228) - interest at 8.5%

Debts = -£17,719

NET WORTH = -£2,877


Hopefully pass the £0 net worth mark in September!
Title: Re: Saving to $10K
Post by: Moonwaves on July 04, 2017, 10:34:39 AM
Not sure how I missed this before, my eyes do tend to glaze over a bit when I see topics like race to 500k. This is much more my speed. And even then, it still feels ambitious.

After struggling for years and finally getting out of debt, I ended up back in debt after moving last year. I should be getting tax refunds for 2014 and 2015 soon (was not on top of this at all) and have just spent the entire weekend working on a big job for my side gig and between those two things my overdraft should be just about cleared. Then I owe my sister 3,000. But at the same time, I really badly need to get some savings in place so that I have at least a baby emergency fund. I started this in May when I set up a savings plan for my very first ETF. What I think I'll do is 1,000 for me, 1,000 for sis, 1,000 for me and so on. Or maybe once I have 1,000 for me, I'll just save to pay her back in full first. We'll see. It's very early days yet.

I have savings in a couple of different accounts. I also want to get back to saving at least some of my spare change in my sealed pot. That gets opened every year at the start of December and I buy myself something for my birthday. Won't include that here. :)

Savings on 4 July 2017
BoI savings a/c: 12.62
DiBa ETF: 144.75 (this is a savings plan that €50 goes into every month)
CmzBank savings a/c: 100.00
Total:  257.37


Title: Re: Saving to $10K
Post by: DieHard_772 on July 04, 2017, 11:12:05 AM
Hi - I'm in!

I'm aiming for £10K net worth which should happen hopefully towards spring 2018.

I started really focusing on my net worth last august when I started with -£13K (student loans were -£19K)!

June

Tracker funds = £8,558
Pension = £1,300
Emergency savings = £4,984

Assets = £14,842

Student loan = (£16,791) - interest at 1.25%
Other loan = (£1,228) - interest at 8.5%

Debts = -£17,719

NET WORTH = -£2,877


Hopefully pass the £0 net worth mark in September!

Great progress, keep it up :)
Title: Re: Saving to $10K
Post by: memorytoast on July 05, 2017, 01:43:36 PM
Just wanted to say kudos to everyone here! Way to set goals and work hard to reach them. It's gonna feel so awesome when you're debt free with a nice safety net!
Title: Re: Saving to $10K
Post by: DieHard_772 on July 05, 2017, 05:39:24 PM
Just wanted to say kudos to everyone here! Way to set goals and work hard to reach them. It's gonna feel so awesome when you're debt free with a nice safety net!

That's for dang sure
Title: Re: Saving to $10K
Post by: LittleWanderer on July 06, 2017, 11:36:28 AM
End of June update:

Emergency fund: $3619
401k: $1221
TOTAL: $4840

Little late checking in this month.  Another bad month, although my total still went up.  I guess that's something! 
Title: Re: Saving to $10K
Post by: twistedfirestarter on July 12, 2017, 01:31:14 AM
My first update, have been working in reducing our spending, fewer takeaways and less eating out. Have now increased payments into savings to 2k per month (~60%) and avoided spending this year's bonus putting it straight in here.

April £1250
(+1250)
May £2515
(+1250)
June £3841
(+1250 +1750)
July £6774 / $8705

Can't believe how well this is going. So glad I found MMM.
Title: Re: Saving to $10K
Post by: fluffmuffin on July 13, 2017, 11:15:42 AM
This is my first post ever! I've been reading MMM for a while but discovered the forums more recently, and want some accountability for my down payment fund. I'm very lucky to already have $12,000 from a one-time windfall, but sometimes I feel like that makes me lazier since I'm already (almost) halfway to the eventual goal of a $30k downpayment. I don't work as hard as I should on this and the money going into the house fund is always the first thing I cut from my budget if I over-spend somewhere else. That needs to change.

7/13/2017: $2,238.41

Goal for 8/31/2018: $10,000. I don't have as high of a salary as a lot of folks on here so that might be ambitious, but I've done the math and I have the $325 per paycheck I'd need to make it happen, as long as I stick to my budget and don't have any major unanticipated expenses.
Title: Re: Saving to $10K
Post by: DieHard_772 on July 13, 2017, 06:31:16 PM
Getting to 10k total networth is moving along, meanwhile, as of today we officially have over $10k in combined investments in
our IRAs and HSA!

Yeah baby!
Title: Re: Saving to $10K
Post by: twistedfirestarter on July 14, 2017, 03:26:39 AM
Getting to 10k total networth is moving along, meanwhile, as of today we officially have over $10k in combined investments in
our IRAs and HSA!

Yeah baby!

Congratulations!
Title: Re: Saving to $10K
Post by: Slanhirn on July 14, 2017, 05:46:06 AM
Getting to 10k total networth is moving along, meanwhile, as of today we officially have over $10k in combined investments in
our IRAs and HSA!

Yeah baby!

Congratulations!

Congrats! Well on the way there!
Title: Re: Saving to $10K
Post by: Trifele on July 14, 2017, 07:54:05 AM
Getting to 10k total networth is moving along, meanwhile, as of today we officially have over $10k in combined investments in
our IRAs and HSA!

Yeah baby!

Congratulations!

Congrats! Well on the way there!


Great job DieHard!  And welcome Fluffmuffin -- Congrats on starting the journey.  You'll get there!
Title: Re: Saving to $10K
Post by: DieHard_772 on July 14, 2017, 11:32:43 AM
Getting to 10k total networth is moving along, meanwhile, as of today we officially have over $10k in combined investments in
our IRAs and HSA!

Yeah baby!

Congratulations!



Congrats! Well on the way there!


Great job DieHard!  And welcome Fluffmuffin -- Congrats on starting the journey.  You'll get there!

Thanks All.

Let's do this!
Title: Re: Saving to $10K
Post by: recklesslysober on July 14, 2017, 12:57:16 PM
June

($106,300) - student debt
$16,700 -retirement
$3,000 - cash

= (86,600)

July

($103,700) - student debt
$17,500 -retirement
$2,300 - cash

= (83,900)
Title: Re: Saving to $10K
Post by: mathstache on July 18, 2017, 12:14:44 PM
roth 4800
checking 1000
savings 2000

total 7800. Looking forward to going over 10k next month - even if just for a few days before rent and other expenses come due... I taught summer school to boost the savings and now that that's over, I've picked up a tutoring gig to make this happen! Keep going everyone, I had a few months of no progress but I know it's turning around.
Title: Re: Saving to $10K
Post by: JanetJackson on July 18, 2017, 12:46:31 PM
I'm jumping in!
Assets:
Emergency fund + General savings = 4716
Vehicle Emergency Fund = 1183
Pet Emergency Fund = 523
Car Insurance collection (paid from yearly) = 297
Camper/Tiny home Savings = 1627
Consistent Checking Surplus for immediate emergencies = 200
IRA = 4.10 :/

TOTAL: 8550.10

*It also makes me feel better to list these assets:
Car value: ~5000
Value if I sold literally everything else I own: maybe 600?



Liabilities
Student Loan #1 = 11,000 at 1.9%
Student Loan #2 = 5,200 at 2.3%
TOTAL: 16200


Net worth: -7649.90
(gosh, almost makes me want to sell my car and walk the 30 miles to work....)
Title: Re: Saving to $10K
Post by: runbikerun on July 28, 2017, 12:10:56 AM
End-of-month update: up to 3,960. I've also managed to set aside 200 in a separate account to cover any unexpected expenses without dipping into the emergency fund, so current balance is 4,160.
Title: Re: Saving to $10K
Post by: fluffmuffin on July 28, 2017, 07:01:51 AM
Way to go, everyone! runbikerun, it feels so awesome to have some rainy-day money saved up--I remember the first time I had two large unexpected expenses in a row, and I realized I could just write a check for it. It was so empowering.
Title: Re: Saving to $10K
Post by: mathstache on July 28, 2017, 08:22:16 AM
roth: 5800
checking: 1720
savings: 2000
taxable investing: 500

total: 10,020

Made it. For a moment. Rent and bills will chip that away over the month, but by next month it should be more solidly above.
Title: Re: Saving to $10K
Post by: JanetJackson on July 28, 2017, 09:10:48 AM
Great job!!!

roth: 5800
checking: 1720
savings: 2000
taxable investing: 500

total: 10,020

Made it. For a moment. Rent and bills will chip that away over the month, but by next month it should be more solidly above.
Title: Re: Saving to $10K
Post by: Slanhirn on July 28, 2017, 01:29:47 PM
Net worth

July 2017 - (£2,877)
August 2017 - (£1,852)  = +£1,025 change in net worth!
Assets = £14,339
Debts = (£16,191) -> student loans

Onwards and upwards :)
Title: Re: Saving to $10K
Post by: Moonwaves on July 31, 2017, 05:51:46 AM
Not sure how I missed this before, my eyes do tend to glaze over a bit when I see topics like race to 500k. This is much more my speed. And even then, it still feels ambitious.

After struggling for years and finally getting out of debt, I ended up back in debt after moving last year. I should be getting tax refunds for 2014 and 2015 soon (was not on top of this at all) and have just spent the entire weekend working on a big job for my side gig and between those two things my overdraft should be just about cleared. 
Tax returns came in (although funnily enough even though I got the money for 2015, I didn't yet get the actual assessment notice) and there was only some temptation to start spending. I decided instead to just transfer the bulk of it immediately to my Irish account, figuring that if I actually needed it, I could just transfer money back later but at least the overdraft would be reduced in the meantime. Very happy to report that I've made it to the end of the month without that being necessary (I did keep a little bit extra to make my housekeeping for the last two weeks of the month less restrictive, €60 well used IMO). I have used my credit card to pay for a couple of things that have been on the list for a long time (table for balcony, soil and stones for pots on balcony, replacement toilet seat - all told just over €100) but as soon as that big invoice is paid (should be next week), I'll be able to clear the remainder of the overdraft and pay the credit card when it's due. It's hard to explain how transferring that money immediately made me feel. It was like a huge recognition of where I have gone wrong in the past, i.e. receive bulk payment of some kind, tax refund or bonus or something and use it to ease up a bit and spend a bit/a lot. This time I didn't do that, although the temptation was there. And as soon as I had transferred it, even though I still felt the temptation to spend, I was looking at my still-not-cleared overdraft thinking to myself, "even if I'd wanted to, I cannot afford to spend any extra".

I've noticed similar things a couple of times in the last few years, like feeling very uneasy around this time of year when my savings account goes down to almost nothing because most of my annual bills fall due. I feel good because the money is there to pay them but very uneasy that there's little or no buffer left. It is a very slow process but I do notice a definite shift in perspective. Lots of times in the past I might have cleared half my overdraft and spent the rest of the money and felt good about reducing the overdraft by half. Now, I paid off more than two-thirds of the overdraft and still feel more of a "really need to get this overdraft cleared" than "I've paid a huge chunk off, I can relax now for a while". Sorry for rambling but whenever I notice this change it doesn't exactly feel comfortable or good, but there's a bit of a sense of wonder at just how different my perspective is.

So, savings as at 31 July 2017 (minimal changes this month)
BoI savings a/c: 12.62
DiBa ETF: 191.78
CmzBank savings a/c: 100.00
Total:  304.40
Title: Re: Saving to $10K
Post by: Trifele on July 31, 2017, 05:59:22 AM
Nice job Slanhirn!  You're getting there!

How did everyone else do in July?   Hopefully some nice progress.  And August is a brand new month for us to feed our 'staches.  Onward!
Title: Re: Saving to $10K
Post by: haypug16 on July 31, 2017, 06:02:00 AM
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) +2,186.18
5 month average Net Worth increase = $1,698.95


July was a good month. I still had to pay the other half of my crown but I started working part-time and got my first check yesterday and was able to throw all of that at my Credit Card debt. :) I'll have this extra cash for part of August and all of September. Then on September 30th I leave my current full time job and my current part-time job becomes full-time. When this happens I'll get a bonus for staying at my current full-time job (plus vacation pay out) all totaled up less taxes I hope to have an extra $10K all of which will go towards Credit Card debt. This should bring my net zero date up to January 2019 and my $10K net-worth date up to May/June 2019. I even have a potential opportunity to continue part-time at my current full-time job so I may have some extra money rolling in after Sept 30th as well.
Title: Re: Saving to $10K
Post by: marielle on July 31, 2017, 06:59:39 AM
I'm almost worthless!

Net worth down to about -2,700 right now.

Was at -26,700 Aug 2016.

Not doing as well as some of you, but I have no 401k right now, so my after tax income is only about $45k. Around $48k in the past year because of the American Opportunity Tax Credit. Definitely could have saved more if I didn't move 3 times in one year and have a crazy long commute for a while.
Title: Re: Saving to $10K
Post by: LittleWanderer on July 31, 2017, 09:12:15 AM
July went pretty well for me, with August being scheduled to be even better.  It's a three paycheck month for me, which means extra savings since I operate on a two paycheck/monthly budget.  Next month I will be back to the richest I have ever been.  :)

End of July update:

Emergency fund: $4541
401k: $1764
TOTAL: $6305
Title: Re: Saving to $10K
Post by: Imma on July 31, 2017, 09:59:23 AM
I' d like to join!

I get paid montly at the last day of the month, so today was pay day! I earn €1093 / month and did some overtime so I made €1144 this month. Overtime goes straight to the savings account. I also automatically transfer €125 to my investments account every pay day.

Savings:
June 30: €2000
July 31: €2400

Investments:
June 30: €1860,37
July 31:  €1985.37

Total:
June 30: € 3860.37
July 31:  €4385.37

Upcoming bills: €325 in taxes.
Title: Re: Saving to $10K
Post by: Trifele on July 31, 2017, 11:18:51 AM
Welcome Imma!  Great to see folks from all over the world on the thread.
Title: Re: Saving to $10K
Post by: Jim Fiction on July 31, 2017, 06:11:20 PM
Some really inspiring stuff in this thread! Might as well join in the fun myself.

Looking to get my net worth to 10K by the end of the year. The items below include only my accounts and does not include my wife's (she's in a lot better shape financially than I am.)

Current:

Bank Accounts: $6,186
HSA: $3,956
Roth 401K: $16,146
TOTAL ASSETS: $26,288

Student Loans: $(23,427)
Credit Cards: $(92)
TOTAL DEBT: $(23,519)

NET WORTH: $2,769

I started 2017 at $(8,578) so it has been a nice turnaround, overall. I haven't been as mustachian as I would have liked, and there were some pricey car repairs and some unexpected health expenses, but I am still happy with my progress.

Title: Re: Saving to $10K
Post by: Bella78 on August 01, 2017, 03:58:37 AM
Joining in.  Currently working towards a positive net worth. 

Debts = (35,803.96)
Assets = 5412.64

Total = (30391.30)

July update

Debts = (35297.53)
Assets = 5564.80

Total = (29732.73) +658.57
Title: Re: Saving to $10K
Post by: fluffmuffin on August 01, 2017, 06:32:31 AM
I originally thought I'd update once a month, but I'm going to start updating after every paycheck for some extra accountability. That will also be nice and unpredictable for everyone, since my HR department set our pay dates by getting a drunk monkey to throw darts at a calendar.

7/13/2017: $2,238.41
8/1/2017: $2,771.40

I'm not quite hitting my $325 benchmark yet, but should be in my next paycheck since my contract at my fancy gym is expiring this month. I also need to top a couple of personal slush funds back up, but once those are done (should be by the end of September?) I'll roll that extra money over to the house fund to make up the difference.

August is a tough month for me since everyone in my family has a birthday: mom, dad, grandparents, and SO. I'll get a nice card for mom and the grandparents, and a bottle of wine (or other fancy consumable) for my dad; I already bought my SO's gift, but will also need to float some celebratory beers/treats this weekend. In some ways it's nice because I only have to think about birthdays once a year. In other ways I feel like I lose a whole month racing around the state lighting money on fire.
Title: Re: Saving to $10K
Post by: Imma on August 01, 2017, 07:26:44 AM
Welcome Imma!  Great to see folks from all over the world on the thread.

Thanks! I'm also happy to meet some mustachians that aren't wealthy (yet!). Sometimes it feels like everyone on here has a high income and lots of money. It's more motivating to join a group of people in a similar situation.
Title: Re: Saving to $10K
Post by: JanetJackson on August 01, 2017, 08:57:57 AM
I haven't updated my own personal stuff on here in a while, but just wanted to say that everyone on this thread is killin' it.  It's hard to save this much on a tighter income, and with multiple life factors, and I am heckin proud to be a part of this thread. 
I'll double check today and update later this week for my own accountability, but I think I am at around $9300, but a lot of it is assigned savings. 
Title: Re: Saving to $10K
Post by: fluffmuffin on August 01, 2017, 10:01:59 AM
Welcome Imma!  Great to see folks from all over the world on the thread.

Thanks! I'm also happy to meet some mustachians that aren't wealthy (yet!). Sometimes it feels like everyone on here has a high income and lots of money. It's more motivating to join a group of people in a similar situation.

Totally agree, Imma! I am very fortunate to make solid money now (~$45k, with a combined household income of ~$88k although we keep finances mostly separate), but I started out at $20k/year and made less than that for two years in grad school. I'll admit that I get a little eyeroll-y at people sometimes--like, OMG, congratulations on saving 70% of the $250,000 you make every year! It must take so much self-sacrifice to survive on $20k/year more than my total salary! Not that I'm not supportive of people in that boat making the right decisions for their individual circumstances, that's awesome for them, it's just SUCH a different calculus.

But regardless of your income level, being frugal, taking the long view, maximizing opportunities when they come your way, and having some luck can help anyone at any income level make progress towards FI. When I was netting $1,462/month, I did my best to save $125 every month in a Roth IRA, and saved up to an emergency fund of around $2,000. When I ended that job, the Roth was worth $2,700; I kept chipping in as best as I could in grad school, worked for another year at $30k, and it's now worth over $8,000. That $2,000 emergency fund kept me from ever having to go into credit card debt. I'm also very privileged and fortunate to have avoided any health problems or unemployment; to have a parent who modeled frugality and who I could always talk to about money; and to have received the $12,000 windfall I mentioned in my OP. My NW is about $44k, which is just absolutely mind-boggling to me compared to where I was when I graduated from college in 2010. So no matter where you're starting from, no matter what your income is, you do have the power to help yourself towards financial security.

And I also know, which I think is just as valuable for my peace of mind, that I can survive making $20,000 per year if I ever had to again.
Title: Re: Saving to $10K
Post by: Imma on August 01, 2017, 10:32:52 AM
Welcome Imma!  Great to see folks from all over the world on the thread.

Thanks! I'm also happy to meet some mustachians that aren't wealthy (yet!). Sometimes it feels like everyone on here has a high income and lots of money. It's more motivating to join a group of people in a similar situation.


But regardless of your income level, being frugal, taking the long view, maximizing opportunities when they come your way, and having some luck can help anyone at any income level make progress towards FI. When I was netting $1,462/month, I did my best to save $125 every month in a Roth IRA, and saved up to an emergency fund of around $2,000. When I ended that job, the Roth was worth $2,700; I kept chipping in as best as I could in grad school, worked for another year at $30k, and it's now worth over $8,000. That $2,000 emergency fund kept me from ever having to go into credit card debt.

And I also know, which I think is just as valuable for my peace of mind, that I can survive making $20,000 per year if I ever had to again.

That sounds like the exact same place I'm in right now. And I hope to be in your place in some time :) . I make the equivalent of about $20.000/year, my s/o makes slightly less, but we keep things separate. I put away the same amount of money in my investments and my emergency fund is also about $2000. We do have a little bit of equity in our home too, but as the market has been very volatile in here, I'm not counting on that.

We're 27/30 now and we lived off about half of this when we were in our early/mid-20's and we always had food on the table and a roof over our heads and a small emergency fund. It wasn't ideal and I did feel 'poor' then, but we made it. I'll always have that sense of accomplishment that we made it then and we could do it again if need be. My grandma, who helped raise me, lived through the Depression and taught me some tricks or two growing up and many of these things have become ingrained habits. I could never throw away stale bread or leftover rice even if I was a millionaire tomorrow. Frugality comes naturally to me.
Title: Re: Race to 10k
Post by: runbikerun on August 02, 2017, 10:20:46 AM
I'm in, at least to make myself as accountable as possible for any shortfalls or slip-ups. Aiming to hit a €10k emergency fund to ensure I'm covered for six months' expenses if anything happens to my job.

Balance as of 1st July 2017: €3,540.
Target: saving €420 per month.
Target date for clearing the €10k figure: October 2018.

Any raises between now and then will be directed straight into the same place to speed up the process.

As of the end of July, my emergency fund is at 4,960. I've also managed to set aside 200 in the last two months to start building a fund that will take care of replacing laptops, phones, bike tyres and the like when the costs eventually come around. My phone's quite new, but the laptop has been going for four years now, and I'm about to become an evening student again so it's quite possible I'll have to get one soon enough. Total funds: 5,160.
Title: Re: Saving to $10K
Post by: fluffmuffin on August 02, 2017, 12:19:12 PM
Way to make it over the 5,000 hump, runbikerun!
Title: Re: Saving to $10K
Post by: Tass on August 02, 2017, 05:35:55 PM
This seems as good a place as any to start out! I just reached my $5k goal in my emergency fund yesterday so I'm riding high.

Emergency fund: $5,000.00
Roth IRA: 3267.05
Misc. cash: $562.51

"Student" debt: (2647.11) at generous 0% interest from beloved lenders who won't let me pay it off too fast

Net worth: $6182.45

I've been getting too comfy with Mint's version that includes my 16yo car and doesn't know about the debt, so that's a nice wakeup call - I'm not at 10k yet! But now that I've rounded out my emergency fund I can start following through faster on the debt. Glad to be among others still working toward 5 figures.
Title: Re: Saving to $10K
Post by: Imma on August 03, 2017, 12:50:12 AM
Congratulations on getting to $5000, runbikerun and Tess! I hope to join you in a couple of months.
Title: Re: Saving to $10K
Post by: JanetJackson on August 07, 2017, 08:56:52 AM
Sooooooo...
Since I made my 6mo car insurance payment, I am not showing as much progress, even though the other accounts went up. 
I am still enrolled and in classes, so I have not made any student loan payments, so those remain the same. 
I did adjust the income of my day job to split $200/mo from each check to go directly into savings- that starts this payday (Friday) so I am hoping it works out and I can survive within my budget (this tightens things up a bit more, where it's already pretty pretty tight).  I live only on the income from the day job and save everything from Job #2 and all side hustles (pet sitting, house cleaning, etc). 

I also quit my gym last week (sad face) so I won't have those payments for a few months until I find another gym home.  I am incomplete and miserable without a gym, and it's something I have to give myself and my health, but the atmosphere/situation at my gym was not improving the quality of my life in relation to the expense- so it was time to go!  Hopefully I can find something just a pinch cheaper, but fulfilling. 
I also pulled out $1100 from General Savings this month to open my Vanguard account!! 
I guess I'm not "technically" in the hole more, but it sure feels like it right now with this minimal progress.
I do have three $200-$400 pet-sitting gigs upcoming on my books, so that'll help!

Keep chugging along!  Choo Choo!

Assets:
Emergency fund + General savings = 5274
Vehicle Emergency Fund = 1183
Pet Emergency Fund = 539
Car Insurance collection (paid from yearly) = 101 (just paid this)
Camper/Tiny home Savings = 1703
Consistent Checking Surplus for immediate emergencies = 200
IRA = 22.06
Vanguard = 1100.00 :/

TOTAL: 8939.06

*It also makes me feel better to list these assets:
Car value: ~5000
Value if I sold literally everything else I own: maybe 600?



Liabilities
Student Loan #1 = 11,000 at 1.9%
Student Loan #2 = 5,200 at 2.3%
TOTAL: 16200


Net worth: -7260.94

I'm jumping in!
Assets:
Emergency fund + General savings = 4716
Vehicle Emergency Fund = 1183
Pet Emergency Fund = 523
Car Insurance collection (paid from yearly) = 297
Camper/Tiny home Savings = 1627
Consistent Checking Surplus for immediate emergencies = 200
IRA = 4.10 :/

TOTAL: 8550.10

*It also makes me feel better to list these assets:
Car value: ~5000
Value if I sold literally everything else I own: maybe 600?



Liabilities
Student Loan #1 = 11,000 at 1.9%
Student Loan #2 = 5,200 at 2.3%
TOTAL: 16200


Net worth: -7649.90
(gosh, almost makes me want to sell my car and walk the 30 miles to work....)
Title: Re: Saving to $10K
Post by: Imma on August 07, 2017, 11:14:38 AM
Still well done JanetJackson! And it's good to see you've budgeted for future pet costs - I know so many irresponsible pet owners who don't.
Title: Re: Saving to $10K
Post by: Tass on August 07, 2017, 04:42:29 PM
I've gotten carried away with spreadsheets today and decided that my goal should be to hit 10k by the end of the year. I started 2017 at about $2k, got a big bump from my tax return, and cracked $7k last week. Most of that last $3k will come from my existing savings plan, but reaching $10k will mean squeezing out an extra $600 total by Dec. It's only $28/week...

On the one hand, I have a 3-paycheck month coming up in Sept which I've budgeted to be pure windfall; on the other hand, travel plans will set me backwards in NW even though I've saved up for them. Also, I just moved, and I'm not positive what my new utility bills will look like, so I'm definitely getting ahead of myself. I'll give myself bonus points for enthusiasm, though. This might be a stretch but I'm going to stretch for it!

Thanks for the warm welcome and I look forward to our shared crusade.
Title: Re: Saving to $10K
Post by: fluffmuffin on August 08, 2017, 08:20:56 AM
$28/week, Tass? You can definitely do it!
Title: Re: Saving to $10K
Post by: LittleWanderer on August 08, 2017, 09:09:05 AM
High five, Tass!  We're in almost the same situation.  I started the year with about $2K, hoping to hit $10K around November(ish) now.
Title: Re: Saving to $10K
Post by: Tass on August 08, 2017, 11:47:02 AM
Hi five indeed! It's really exciting to see that graph start to move upward - to my retrospective chagrin, it's pretty flat through 2016. I'm really excited to finish 2017 a lot stronger.

I'm doing my research to buy a bike at the moment, which will hopefully help me eke those $$ out. Only another couple weeks of gas guzzling for me.
Title: Re: Saving to $10K
Post by: marielle on August 08, 2017, 12:07:31 PM
It's going to take me /slightly/ longer than expected to reach 0 net worth and subsequently $10k net worth. I'm about to move for the 4th time in the past 13 months or so. Hopefully a bit more permanent this time.

The pet fee is $600 for two cats + $40 per month (ouch!) but the security deposit should be only $200. My current roommate/landlord is kicking me out earlier than my friend can move in to the new place so that's going to cost me more as well. All in all though, I will be driving 38 miles less each day to work than I did a few months ago, which is HUGE. If I estimate 30 cents a mile, that's a savings of $2850 a year. I tried for half a year to find a place within biking distance with no luck, but I possibly could do the 18 mile commute by e-bike or drive half, ride half. The sucky thing is that the commute is actually further on the bike than by car in terms of miles.
Title: Re: Saving to $10K
Post by: LittleWanderer on August 08, 2017, 01:58:51 PM
I'm doing my research to buy a bike at the moment, which will hopefully help me eke those $$ out. Only another couple weeks of gas guzzling for me.

Oh, exciting!  What kind of bike?  What's your budget?  I try to ride my bike to work 2-3 times a week.  At a 30 mile round trip, it's a bit of a haul for me to do it more often. 
Title: Re: Saving to $10K
Post by: Tass on August 08, 2017, 06:01:42 PM
I'm doing my research to buy a bike at the moment, which will hopefully help me eke those $$ out. Only another couple weeks of gas guzzling for me.

Oh, exciting!  What kind of bike?  What's your budget?  I try to ride my bike to work 2-3 times a week.  At a 30 mile round trip, it's a bit of a haul for me to do it more often.

"What kind of bike" is kind of what I'm trying to figure out, lol. I'm going for what MMM described as an "instant gratification bike" - something low-maintenance and relatively comfortable that won't break the bank, so I can gain a little confidence. The commute is 3.4 miles one way (with hills) and 6.7 the other (all downhill/flat) due to an oddity of the bike path being attached to a highway. (It's only a mile and a half as the crow flies, but there's a darn mountain in the way.)

Anyway, I'm probably looking for a hybrid in the low hundreds of dollars, willing to buy used. Let me know if you have any advice. I plan to drop in on a bike shop and learn about measurements one of these weekends.

@marielle moving sucks, I just finished doing that myself. Fingers crossed for permanence!
Title: Re: Saving to $10K
Post by: twistedfirestarter on August 09, 2017, 01:14:58 AM
My first update, have been working in reducing our spending, fewer takeaways and less eating out. Have now increased payments into savings to 2k per month (~60%) and avoided spending this year's bonus putting it straight in here.

April £1250
(+1250)
May £2515
(+1250)
June £3841
(+1250 +1750)
July £6774 / $8705

Can't believe how well this is going. So glad I found MMM.

(+2000)
August £8916 / $11597 !

Insanely pleased with the growth of our stache, FI still feels a very long way off but I'm certain we wouldn't be where we are now if this amazing community didn't exist.

I've always had frugal tendencies but without a clear financial goal to support them I was tempted (bullied) towards the spendy dark side. You guys remind me that I'm the financially sane one by not going along with the status quo.
Title: Re: Saving to $10K
Post by: Snow on August 09, 2017, 01:54:21 AM
This seems like a good place to start!

As of right now, here is a rough outline:

Funds: ~$1k
Emergency fund: ~$100 (summer has been tough)

Won't break 10k this year, but next year, for sure! Aiming for getting half-way there by the end of the year!

Edit to add: Oh, I suppose my 4k mortgage fund should go into the total as well. In which case 10k suddenly doesn't feel so far off. Finishing by the end of this year suddenly seems within grasp!
Title: Re: Saving to $10K
Post by: LittleWanderer on August 09, 2017, 07:41:12 AM
I'm doing my research to buy a bike at the moment, which will hopefully help me eke those $$ out. Only another couple weeks of gas guzzling for me.

Oh, exciting!  What kind of bike?  What's your budget?  I try to ride my bike to work 2-3 times a week.  At a 30 mile round trip, it's a bit of a haul for me to do it more often.

"What kind of bike" is kind of what I'm trying to figure out, lol. I'm going for what MMM described as an "instant gratification bike" - something low-maintenance and relatively comfortable that won't break the bank, so I can gain a little confidence. The commute is 3.4 miles one way (with hills) and 6.7 the other (all downhill/flat) due to an oddity of the bike path being attached to a highway. (It's only a mile and a half as the crow flies, but there's a darn mountain in the way.)

Anyway, I'm probably looking for a hybrid in the low hundreds of dollars, willing to buy used. Let me know if you have any advice. I plan to drop in on a bike shop and learn about measurements one of these weekends.

@marielle moving sucks, I just finished doing that myself. Fingers crossed for permanence!

If you're in the $300 range, used is definitely the way to go.  You'll get more bang for your buck.  I would look for something similar to a Trek FX or Specialized Sirrus.  Don't buy anything with a suspension fork; it's just wasted energy on the road.  Since you're commuting, it's nice to have something with attachments for a rack.  (But I did my commute with a backpack for a while too, so it won't kill you.)  Going to the bike shop first is a fantastic idea.  Riding the right size bike is key to your comfort! 
Title: Re: Saving to $10K
Post by: Trifele on August 09, 2017, 08:25:39 AM
My first update, have been working in reducing our spending, fewer takeaways and less eating out. Have now increased payments into savings to 2k per month (~60%) and avoided spending this year's bonus putting it straight in here.

April £1250
(+1250)
May £2515
(+1250)
June £3841
(+1250 +1750)
July £6774 / $8705

Can't believe how well this is going. So glad I found MMM.

(+2000)
August £8916 / $11597 !

Insanely pleased with the growth of our stache, FI still feels a very long way off but I'm certain we wouldn't be where we are now if this amazing community didn't exist.

I've always had frugal tendencies but without a clear financial goal to support them I was tempted (bullied) towards the spendy dark side. You guys remind me that I'm the financially sane one by not going along with the status quo.

Nice job ClickHappy!! 
Title: Re: Saving to $10K
Post by: fluffmuffin on August 09, 2017, 08:34:45 AM
Way to go, Clickhappy! Am I reading it right that you are officially graduated?

Also in light of the bike conversation: is this a safe space to admit that I never learned how to ride a bike? (I know, I know. There are reasons but it's still ridiculous.) I would be in a great situation to bike commute two or three days a week...if only I knew how. One of my resolutions for 2017 was to learn how to ride a bike. It's August, so um, I should probably get started on that. Suggestions and facepunches welcomed.
Title: Saving to $10K
Post by: twistedfirestarter on August 09, 2017, 08:43:44 AM
Way to go, Clickhappy! Am I reading it right that you are officially graduated?

I am the next target is rather daunting though, going to take a while.
Title: Re: Saving to $10K
Post by: Trifele on August 09, 2017, 09:08:26 AM
Way to go, Clickhappy! Am I reading it right that you are officially graduated?

I am the next target is rather daunting though, going to take a while.

"Just keep swimming, just keep swimming . . . "  :)  You will absolutely get there.
Title: Re: Saving to $10K
Post by: Tass on August 09, 2017, 10:45:00 AM
I got invited to dinner at my favorite restaurant last night and was forced to turn it down due to a prior commitment. Rah-rah for forced mustachianism, I guess... That's half of my $28/week unspent.

Also in light of the bike conversation: is this a safe space to admit that I never learned how to ride a bike? (I know, I know. There are reasons but it's still ridiculous.) I would be in a great situation to bike commute two or three days a week...if only I knew how. One of my resolutions for 2017 was to learn how to ride a bike. It's August, so um, I should probably get started on that. Suggestions and facepunches welcomed.

Hey, as a grad student I make a point of not shaming people simply for not knowing things. Having knowledge and failing to act on it is a much greater offense. But I'm betting if you could borrow a bike and dedicate a Saturday you'd get the basics down fast!

the next target is rather daunting though, going to take a while.

I'm sure some of us will be joining you for a looooong slog through the 100k race before long. Take advantage of your head start!

Won't break 10k this year, but next year, for sure! Aiming for getting half-way there by the end of the year!

5k by Dec 31? Sounds like a solid goal!
Title: Re: Saving to $10K
Post by: Snow on August 09, 2017, 10:52:44 AM
Won't break 10k this year, but next year, for sure! Aiming for getting half-way there by the end of the year!

5k by Dec 31? Sounds like a solid goal!

Ha, thanks! I just realised that I should add my mortgage fund to this tally as well (4k). I always forget it when doing net worth calculations, since it isn't liquid (cannot be withdrawn without talking to your bank, has to be used on a mortgage or house improvements or the state will demand you pay the tax they gave you back for saving). 5k is still my saving goal this year going forward, but that will actually tilt my total over 10k! Graduation by the end of 2017, yahs!
Title: Re: Saving to $10K
Post by: LittleWanderer on August 09, 2017, 11:36:07 AM
Congrats, Clickhappy!!!  Hopefully we'll be seeing each other again soon in the next thread. 

Also in light of the bike conversation: is this a safe space to admit that I never learned how to ride a bike? (I know, I know. There are reasons but it's still ridiculous.) I would be in a great situation to bike commute two or three days a week...if only I knew how. One of my resolutions for 2017 was to learn how to ride a bike. It's August, so um, I should probably get started on that. Suggestions and facepunches welcomed.

Do it!  I'm not really sure how you learn to ride a bike as an adult.  Seeing that there are youtube videos for everything under the sun these days, that might be a good place to start?
Title: Re: Saving to $10K
Post by: LittleWanderer on August 09, 2017, 11:39:31 AM
Every year at work, we get a gift card to the local gas station for the holidays - right around mid-December.  Mine was $300.  I finally used the last of it yesterday when I put gas in my car.  Now I have to budget for gas again!  Well, until December.  :)
Title: Re: Saving to $10K
Post by: Moonwaves on August 10, 2017, 04:11:21 AM
Congrats, Clickhappy!!!  Hopefully we'll be seeing each other again soon in the next thread. 

Also in light of the bike conversation: is this a safe space to admit that I never learned how to ride a bike? (I know, I know. There are reasons but it's still ridiculous.) I would be in a great situation to bike commute two or three days a week...if only I knew how. One of my resolutions for 2017 was to learn how to ride a bike. It's August, so um, I should probably get started on that. Suggestions and facepunches welcomed.

Do it!  I'm not really sure how you learn to ride a bike as an adult.  Seeing that there are youtube videos for everything under the sun these days, that might be a good place to start?
I've seen bits in the newspaper and on the web about people offering lessons to adults. Find out if you have a local (or local chapter of a national) biking association and phone them to ask if they know of anything. Or try your friendly local bike shop.
At the risk of sounding patronising, have you ever ridden an exercise bike? 'Cos if you have, you already know the mechanics of how to ride a bike, just need to practice the balance part of it. Good luck. I've actually thought about having lessons to try and become a better cyclist. I can stay upright and get from A to B but I'm not a very confident cyclist and definitely have lots of room for improvement.
Title: Re: Saving to $10K
Post by: fluffmuffin on August 10, 2017, 08:04:51 AM
I've seen bits in the newspaper and on the web about people offering lessons to adults. Find out if you have a local (or local chapter of a national) biking association and phone them to ask if they know of anything. Or try your friendly local bike shop.
At the risk of sounding patronising, have you ever ridden an exercise bike? 'Cos if you have, you already know the mechanics of how to ride a bike, just need to practice the balance part of it. Good luck. I've actually thought about having lessons to try and become a better cyclist. I can stay upright and get from A to B but I'm not a very confident cyclist and definitely have lots of room for improvement.

Hmm...just looked around on some websites and it doesn't look like anyone is advertising anything for total beginners. There are definitely seminars for people who know the basics but are looking to improve, so you should actually check out those classes! But alas I don't see anything for the lucky few in my situation :) I also did some exploration on Youtube and it looks like, as I suspected, that I need a bike in order to make this work. All of my friends in the area are either 5'8 Amazons or only own expensive tri bikes. I guess I should be saving for a bike, too.

I have been on stationary bikes plenty, am generally athletic, and grew up horseback riding so I can balance on narrow things moving at high speeds. (Which, incidentally, is a big reason I never learned how to ride a bike: I had a pony! Eight-year-old Fluffmuffin was way more into ponies than stupid metal wheel things, and could easily sub pony for bike in the countryside.) So I know that I can do this!
Title: Re: Saving to $10K
Post by: Imma on August 10, 2017, 11:00:03 AM
If you are fit and you can ride a horse, you will have no problems at all learning how to ride a bike. Well, it's easy for me to say as I'm Dutch and Dutch kids learn to ride a bike at the same age they learn to walk, but I've only ever met one person who didn't manage to learn to ride a bike in adulthood. That person was my MIL who lived in Asia for the first 40 years of her life, and I'm pretty sure the only reason she didn't learn it eventually is because she's so afraid to fall she gave up. But as a horse person, I'm sure you're not like that.
Don't buy a proper new expensive bike as your first one. You are going to fall when you're just starting out and a bike will get damaged when you fall. Buy the cheapest second hand you can find, learn to ride it, then treat yourself to a nice shiny bike to celebrate your accomplishment.
Title: Re: Saving to $10K
Post by: Snow on August 10, 2017, 11:10:43 AM
^ + 1 What Imma said!
Title: Re: Saving to $10K
Post by: fluffmuffin on August 10, 2017, 11:37:51 AM
Thanks for the encouragement yall. I know I just need to bite the bullet and find a way to get started. I'm pretty sure biking would even save me time on my commute, since I wouldn't have to fight for parking with all the students and then walk 10-15 minutes.

I'm not sure I trust myself on Craigslist since I have zero clues what to look out for, but I Yelped around and there's a reputable-looking shop specializing in used bikes a few blocks away from my job. Maybe I'll check them out after work tomorrow to get a sense of what's out there.
Title: Re: Saving to $10K
Post by: Moonwaves on August 10, 2017, 11:51:03 AM
I googled a bit and there seems to be a few sites with ideas for how adults should learn cycling. Key seems to be rolling along with your legs just up, not on the pedals, until you find your balance. Then you can start pedalling.
Title: Re: Saving to $10K
Post by: LittleWanderer on August 10, 2017, 02:40:16 PM
I'm not sure I trust myself on Craigslist since I have zero clues what to look out for, but I Yelped around and there's a reputable-looking shop specializing in used bikes a few blocks away from my job. Maybe I'll check them out after work tomorrow to get a sense of what's out there.

That's a great idea.  Hopefully they have someone knowledgeable there about bike fitting that can help you.  How tall are you?  We can at least give you a few ballpark ideas on sizing by your height.  (But that's not the only thing in the equation.)  Don't ever let someone tell you a bike fits just because you can stand over it and the bar doesn't hit your crotch!
Title: Re: Saving to $10K
Post by: fluffmuffin on August 10, 2017, 02:58:51 PM
I'm 5'4. Thanks for all the support! Planning to wear pants and flat shoes tomorrow. A couple yelp reviews have mentioned this place doing bike fittings so hopefully the right sales people will be there.
Title: Re: Saving to $10K
Post by: DieHard_772 on August 11, 2017, 06:50:39 PM

Oy, what a month.  I won't even go into it, I'm just glad to be done with it
Moving on...


Money set aside for Self-Employment taxes: $95
Money in Bank Accts and Savings for spending : $3948
Our Savings:  $2836
My IRAs:  $7284*
HSA: $1333
Wife IRA:   $1176
Money to be invested this month:  $129

*My IRAs are currently being transferred from Betterment to Vanguard, so I don't know the exact number.  Hopefully transfer will complete early next week.

TOTAL ASSETS: $16802

Current Liabilities
Credit card: $3262**
Student loan: $4480

**doesn't include about $160 I used a card to charge new glasses.  But that is 0% apr for 6 months and will be paid off.

TOTAL LIABILITIES: $7743


CURRENT NETWORTH:  $9059


This last month was definitely a chance to practice non-attachment.  Things really did not work out how I hoped, yet as they say,
what doesn't kill you makes you stronger... Onward and upward!

Okay, update time:




Money set aside for Self-Employment taxes: $947
Money in Bank Accts and Savings for spending : $1930
Our Savings:  $2203
My IRAs:  $7623
HSA: $1459
Wife IRA:   $1326
Money to be invested this month:  $167

TOTAL ASSETS: $15655

Current Liabilities
Credit card: $3180**
Student loan: $4454

**doesn't include about $160 I used a card to charge new glasses.  But that is 0% apr for 6 months and will be paid off.

TOTAL LIABILITIES: $7634


CURRENT NETWORTH:  $8021

OVERALL:
Okay, so there was a dip according to these numbers only because there is less in the bank accounts (which are used for monthly spending).
Nonetheless, the growth was less than usual because of a bit of a cash flow situation I had that reduced how much I could set aside...  Intending
to get back into the swing of things.

On the good side, our investments now total $10,575!



Title: Re: Saving to $10K
Post by: Tass on August 11, 2017, 07:38:19 PM
And the debt still decreased, so that's a plus!
Title: Re: Saving to $10K
Post by: fluffmuffin on August 12, 2017, 04:02:55 AM
Debt down and investments up? Sounds like a win, Diehard!

I went to the bike shop yesterday. The owner was super friendly and not judgmental at all, which I was kind of nervous about because my city's Venn diagram of snotty hipsters and cyclists has a lot of overlap in the middle. I tried out (aka sat on and kind of shuffled around the shop on) three bikes. The one I liked the best was a hybrid mountain bike. The guy said people were starting to use mountain bikes as commuters because our roads are so bad. It's $275, which seems reasonable for the brand according to the Internet. Probably going back to buy it on Monday or Tuesday!
Title: Re: Saving to $10K
Post by: martyconlonontherun on August 12, 2017, 08:25:20 AM
Background:
Age: 29
"Switched" Careers at 25.
Started taking personal finances 'seriously' around 27 (aka actually saving money, 401k, etc).
Started taking personal finances seriously around 29
Salary gradually up to 65k
Married but don't include house (equity/mortgage) or joint savings in these calculations since she's the boss, it gets messy with house equity/sweat equity ($40k total on a $170k house in May), and it will just be cherry on the top.
-Paid off car but not adding value of that in the calculation since its not worth more than a few Gs and requires maintenance
-4.5 years left of student loan payments I'm aggressively paying off/refinanced in January 17
-15 year mortgage in May
-Not including 529 accounts-Only a few hundred now, but it will be going to Godchildren/my future children so not my money in my eye.

January 2016-
($45k) Student Debt
($2k) Personal CC Debt
$8k 401k
NW: ($38k)

NW April 2016: ($36K)
July 2016: ($38k)
October 2016: ($22k)
January 2017: ($17k)
April 2017: ($10k)
July 2017: ($4.5k)
Current (August): (~$2.5k) - Retirement accounts up to $30k
Stretch goal is to be $10k by 30.
Hoping to increase 401k/IRA when the Sloans are paid off and hopefully some more salary. Realistic goal is to retire by 55 unless I really climb the corporate ladder.



Title: Re: Saving to $10K
Post by: LittleWanderer on August 13, 2017, 07:15:20 AM
You're kicking ass, Diehard!  It sounds like you'll be out of here in no time.

I went to the bike shop yesterday. The owner was super friendly and not judgmental at all, which I was kind of nervous about because my city's Venn diagram of snotty hipsters and cyclists has a lot of overlap in the middle. I tried out (aka sat on and kind of shuffled around the shop on) three bikes. The one I liked the best was a hybrid mountain bike. The guy said people were starting to use mountain bikes as commuters because our roads are so bad. It's $275, which seems reasonable for the brand according to the Internet. Probably going back to buy it on Monday or Tuesday!

Make/model/size of the bike?  Nice job getting out there and going.  I know bike stuff can be intimidating! 
Title: Re: Saving to $10K
Post by: haypug16 on August 14, 2017, 07:13:03 AM
Woohoo! unofficial mid-month update Net-Worth -$43,103.44 increase of $1,250.66 since the end of July. I get paid from my part-time job tomorrow so that'll go up again soon.

Leaving for my honeymoon tomorrow!!!. Mostly everything has been paid for and because I paid for more than my husband he is going to be covering all the food, etc. to catch up to me. So I'm just taking out a little cash for tips and a little spending money but hopefully will arrive back in Boston having only spend a few hundred over the next 3 weeks! That would be pretty amazing.
Title: Re: Saving to $10K
Post by: MsMonopolyDog on August 15, 2017, 11:58:33 AM
I notice everyone mentioning the money in their IRA - may I ask what/which IRA they use? Sorry for the dumb question, I am very new to being a Moustachian and am interested in putting some money into an IRA.

Title: Re: Saving to $10K
Post by: Tass on August 15, 2017, 12:24:36 PM
I also went to a bike shop yesterday and got some pointers on buying a used bike, and sent a couple craigslist queries last night ranging from $200-$400.

Only to discover my roommate is willing to give me his hand-me-down free! Unfortunately, it has rusted gears, wheels that don't spin freely (the brakes stop the front wheel), a suspension fork I don't need or want, and twist gears (I've heard trigger gears are more comfortable but no personal experience). It does at least have 21 speeds. And free is hard to beat. Any thoughts on whether I should give it a shot, or spend a little more on something that won't make me hate riding it up a hill every day?

I notice everyone mentioning the money in their IRA - may I ask what/which IRA they use? Sorry for the dumb question, I am very new to being a Moustachian and am interested in putting some money into an IRA.

I have mine through Fidelity purely for family history reasons. The general MMM recommendation is Vanguard, but I asked about comparing them over in the Investor's forum and there are plenty of people who say they're mostly comparable. https://forum.mrmoneymustache.com/investor-alley/fidelity-vs-vanguard-77284/
Title: Re: Saving to $10K
Post by: marielle on August 15, 2017, 01:21:52 PM
I also went to a bike shop yesterday and got some pointers on buying a used bike, and sent a couple craigslist queries last night ranging from $200-$400.

Only to discover my roommate is willing to give me his hand-me-down free! Unfortunately, it has rusted gears, wheels that don't spin freely (the brakes stop the front wheel), a suspension fork I don't need or want, and twist gears (I've heard trigger gears are more comfortable but no personal experience). It does at least have 21 speeds. And free is hard to beat. Any thoughts on whether I should give it a shot, or spend a little more on something that won't make me hate riding it up a hill every day?

Not a bike expert by any means, but this sounds kinda dangerous. If it's a cheap walmart-type bike, even worse. If it's a really good bike not from a department store you might be able to keep the frame and switch out other components? But I doubt it. If you post a picture or the brand/model here I'm sure people would be able to help you immediately.
Title: Re: Saving to $10K
Post by: Tass on August 15, 2017, 01:37:22 PM
I also went to a bike shop yesterday and got some pointers on buying a used bike, and sent a couple craigslist queries last night ranging from $200-$400.

Only to discover my roommate is willing to give me his hand-me-down free! Unfortunately, it has rusted gears, wheels that don't spin freely (the brakes stop the front wheel), a suspension fork I don't need or want, and twist gears (I've heard trigger gears are more comfortable but no personal experience). It does at least have 21 speeds. And free is hard to beat. Any thoughts on whether I should give it a shot, or spend a little more on something that won't make me hate riding it up a hill every day?

Not a bike expert by any means, but this sounds kinda dangerous. If it's a cheap walmart-type bike, even worse. If it's a really good bike not from a department store you might be able to keep the frame and switch out other components? But I doubt it. If you post a picture or the brand/model here I'm sure people would be able to help you immediately.

It's this bike: http://www.about-bicycles.com/Bike-Reviews/diamondback-wildwood-comfort.html

I was assuming I'd have to put some money into it to at least grease up the gears, but it is a decent bike underneath the rust - just not the exact kind of bike I was looking for. The alternative is paying $300ish for a used bike that's (hopefully) ready to go immediately, which I'm honestly leaning toward at the moment.
Title: Re: Saving to $10K
Post by: Imma on August 15, 2017, 03:21:01 PM
How usable is it? If it's free it's always worth a try. Greasing up the gears is something you can easily do yourself (youtube) and you can probably also fix the brakes. If it still doesn't work properly you can always buy a better one.

But then, I'm Dutch. In here there's some sort of Four Yorkshiremen-like competition going on about crappy bikes. People laugh at you if you have a fancy bike. Everyone rides crappy old bikes with non-shifting gears and broken lights. A well known government minister used to go to work on a 30 year old bike.
Title: Re: Saving to $10K
Post by: fluffmuffin on August 16, 2017, 07:07:01 AM
7/13/2017: $2,238.41
8/1/2017: $2,771.40
8/16/2017: $3,071.40

I'm feeling pretty good--August is a tough month for me, but I'm clicking along and hitting my numbers. If I weren't buying a bike, I would have had an extra $200 to throw on top of the $300 from my most recent paycheck. I even contributed some extra money into my Roth for the first time in ages. And I'm officially FREE of my contract with my spendypants gym! I still love it and I'll miss the community, but it's just time for something new at a lower price point.

I'm headed back to the bike shop after work today!

How usable is it? If it's free it's always worth a try. Greasing up the gears is something you can easily do yourself (youtube) and you can probably also fix the brakes. If it still doesn't work properly you can always buy a better one.

But then, I'm Dutch. In here there's some sort of Four Yorkshiremen-like competition going on about crappy bikes. People laugh at you if you have a fancy bike. Everyone rides crappy old bikes with non-shifting gears and broken lights. A well known government minister used to go to work on a 30 year old bike.

I love this. I wish America had some of those values!
Title: Re: Saving to $10K
Post by: marielle on August 16, 2017, 09:02:55 AM
Finally received my security deposit from my previous apartment and I got the FULL deposit back! It was only $500 but now I'm less than one paycheck from $0 net worth! I am worried about my current deposit because my landlord is a huge PITA and a jerk, but at least it's only $350. Small lesson to pay for future living situations if I don't get it back. Document absolutely everything!

@fluffmuffin Congrats on getting a bike! I was so excited to get mine. And that sounds like a great deal too!
Title: Re: Saving to $10K
Post by: LittleWanderer on August 16, 2017, 09:42:31 AM
It's this bike: http://www.about-bicycles.com/Bike-Reviews/diamondback-wildwood-comfort.html

I was assuming I'd have to put some money into it to at least grease up the gears, but it is a decent bike underneath the rust - just not the exact kind of bike I was looking for. The alternative is paying $300ish for a used bike that's (hopefully) ready to go immediately, which I'm honestly leaning toward at the moment.

I wouldn't spend a dime to fix up that kind of bike, personally.  You'll do more riding and more enjoyable riding on a bike that rides well, is in better shape, and you picked out yourself. 
Title: Re: Saving to $10K
Post by: Tass on August 16, 2017, 10:15:45 AM
It's this bike: http://www.about-bicycles.com/Bike-Reviews/diamondback-wildwood-comfort.html

I was assuming I'd have to put some money into it to at least grease up the gears, but it is a decent bike underneath the rust - just not the exact kind of bike I was looking for. The alternative is paying $300ish for a used bike that's (hopefully) ready to go immediately, which I'm honestly leaning toward at the moment.

I wouldn't spend a dime to fix up that kind of bike, personally.  You'll do more riding and more enjoyable riding on a bike that rides well, is in better shape, and you picked out yourself.

I picked up a Trek FX 7.0 with basically every feature I wanted (no suspension, trigger shifters, 21 speeds and a correct-sized aluminum frame) for $200 instead. It has a rusty chain and probably needs the gear shift cable tension adjusted, but it's otherwise essentially new. (Except the cobwebs that prove craigslist guy didn't just steal it.) I still can't ride it because I don't have a helmet or a lock, and the lights it came with look like crap, but still!

http://archive.trekbikes.com/us/en/2016/Trek/7_0_fx#/us/en/2016/Trek/7_0_fx/details

Looks like it's bike week here! High five, fluffmuffin.
Title: Re: Saving to $10K
Post by: LittleWanderer on August 16, 2017, 12:44:15 PM
The Trek FX is a perfect choice for a commuter!  Nice job on the bikes, everyone!  I'm going bike camping this weekend, myself.  :)
Title: Re: Saving to $10K
Post by: fluffmuffin on August 16, 2017, 03:34:42 PM
I'm officially a bike owner! Tass, we're bike siblings--I got a Trek too. I messed around in the yard a little bit when I got home, but the mosquitos chased me inside.
Title: Re: Saving to $10K
Post by: Tass on August 16, 2017, 07:29:44 PM
I'm officially a bike owner! Tass, we're bike siblings--I got a Trek too. I messed around in the yard a little bit when I got home, but the mosquitos chased me inside.

Yeah, I rode it around the apartment complex a little (no real roads - again, no helmet or lights!) and was surprised to recall that riding a bike is... fun.

I'm sure I'll feel differently once I start climbing hills on the thing, but it's enjoyable for now!
Title: Re: Saving to $10K
Post by: without_a_map on August 17, 2017, 08:42:11 AM
Hi all! I'm in, just started saving properly since I got my first job in Dec 2016 after completing my PhD. My progress is looking ok considering my take home salary is about £20,000/year, but really lucky to be living rent free at the moment, so taking this opportunity to stash hard!

Current savings:
ISA: £2400
emergency fund: £4600
Premium bonds: £1000
S&S ISA (index funds): £915

Total: £8915

Not far to go, hoping to cross the line before I turn 30 at the end of Sept, better late than never to get over 5 figures net worth :)
Title: Re: Saving to $10K
Post by: Optimiser on August 17, 2017, 10:56:36 AM
I'm officially a bike owner! Tass, we're bike siblings--I got a Trek too. I messed around in the yard a little bit when I got home, but the mosquitos chased me inside.

Get ready to live
Title: Re: Saving to $10K
Post by: fluffmuffin on August 17, 2017, 01:04:49 PM
I'm officially a bike owner! Tass, we're bike siblings--I got a Trek too. I messed around in the yard a little bit when I got home, but the mosquitos chased me inside.

Get ready to live

Seems to be the consensus opinion that my 29 years of non-biking life have been a meaningless wasteland ;) No but really, I'm excited to learn an extremely useful new skill. And MMM gave me the momentum to actually do the thing, instead of just talking about it like I've been doing for the last 10 years!
Title: Re: Saving to $10K
Post by: Tass on August 17, 2017, 02:06:16 PM
Hi all! I'm in, just started saving properly since I got my first job in Dec 2016 after completing my PhD. My progress is looking ok considering my take home salary is about £20,000/year, but really lucky to be living rent free at the moment, so taking this opportunity to stash hard!

Current savings:
ISA: £2400
emergency fund: £4600
Premium bonds: £1000
S&S ISA (index funds): £915

Total: £8915

Not far to go, hoping to cross the line before I turn 30 at the end of Sept, better late than never to get over 5 figures net worth :)

Woohoo, more academics! Congrats on the job.
Title: Re: Saving to $10K
Post by: without_a_map on August 17, 2017, 02:25:33 PM
Hi all! I'm in, just started saving properly since I got my first job in Dec 2016 after completing my PhD. My progress is looking ok considering my take home salary is about £20,000/year, but really lucky to be living rent free at the moment, so taking this opportunity to stash hard!

Current savings:
ISA: £2400
emergency fund: £4600
Premium bonds: £1000
S&S ISA (index funds): £915

Total: £8915

Not far to go, hoping to cross the line before I turn 30 at the end of Sept, better late than never to get over 5 figures net worth :)

Woohoo, more academics! Congrats on the job.

Hi! Thank you, feels good to be finally earning, although not technically in academia, I'm working in industry but in partnership with a university.
Title: Re: Saving to $10K
Post by: without_a_map on August 17, 2017, 02:26:26 PM
I'm officially a bike owner! Tass, we're bike siblings--I got a Trek too. I messed around in the yard a little bit when I got home, but the mosquitos chased me inside.

Get ready to live

Seems to be the consensus opinion that my 29 years of non-biking life have been a meaningless wasteland ;) No but really, I'm excited to learn an extremely useful new skill. And MMM gave me the momentum to actually do the thing, instead of just talking about it like I've been doing for the last 10 years!

So impressed you are giving it a go, hope you fall in love with it!
Title: Idiotic counting errors...
Post by: runbikerun on August 23, 2017, 07:00:41 AM
Miscounted in my last post and added a thousand that didn't exist: my actual balance was in the 4k range rather than the 5k. Deeply embarrassing.

As of payday this month, though, I've hit 4,780, so I'll hit the halfway mark next month barring unexpected problems.
Title: Re: Saving to $10K
Post by: fluffmuffin on August 23, 2017, 08:18:18 AM
I'm officially a bike owner! Tass, we're bike siblings--I got a Trek too. I messed around in the yard a little bit when I got home, but the mosquitos chased me inside.

Get ready to live

Seems to be the consensus opinion that my 29 years of non-biking life have been a meaningless wasteland ;) No but really, I'm excited to learn an extremely useful new skill. And MMM gave me the momentum to actually do the thing, instead of just talking about it like I've been doing for the last 10 years!

So impressed you are giving it a go, hope you fall in love with it!

So I can bike now! Not well or confidently, but I CAN BIKE. Brought the bike home Wednesday, figured out gliding on Thursday, and added the pedaling/forward momentum piece on Friday. I like...went for a bike ride on Sunday. It was surreal--I feel like this has been A Thing I Cannot Do for so long. It's going to take a lot more practice before I feel confident enough to bike-commute, but I'm on the way! Thanks for the support and encouragement, yall.

runbikerun, let me tell you about the time last year that I somehow managed to double-count all of my work retirement accounts. I was pumped for about a week before I crashed back down to earth and realized I'd duplicated the lines in excel...it happens. Just think about all of the people out there who have no clue what's in their accounts.
Title: Re: Saving to $10K
Post by: Tass on August 23, 2017, 12:08:20 PM
I'm all set to overspend this month because I have somehow spent SEVENTY DOLLARS on Lyft/Uber. No facepunches needed, I am delivering them to myself already. $30 of that is due to a friend bailing on picking me up from the airport, and another $20 is due to a terrible but unavoidable coworker dinner that will not be repeated, but the money's gone regardless of the excuse.

I have at least kept my grocery bill under $150 so far, and some of my other expenses this month are one-time moving costs. Goal next month (and the remainder of August) to spend $0 on rideshare apps - an easier task since I'm not planning to fly anywhere.

Congrats on the new skill, fluffmuffin!
Title: Re: Saving to $10K
Post by: without_a_map on August 25, 2017, 06:06:18 AM

[/quote]

So I can bike now! Not well or confidently, but I CAN BIKE. Brought the bike home Wednesday, figured out gliding on Thursday, and added the pedaling/forward momentum piece on Friday. I like...went for a bike ride on Sunday. It was surreal--I feel like this has been A Thing I Cannot Do for so long. It's going to take a lot more practice before I feel confident enough to bike-commute, but I'm on the way! Thanks for the support and encouragement, yall.

runbikerun, let me tell you about the time last year that I somehow managed to double-count all of my work retirement accounts. I was pumped for about a week before I crashed back down to earth and realized I'd duplicated the lines in excel...it happens. Just think about all of the people out there who have no clue what's in their accounts.
[/quote]

Awesome, quick progress! Well done (biking, not about the duplicated excel lines!), you'll be commuting in no time. Do they do cycle proficiency training anywhere near you? Might be useful to give you confidence in traffic/learn cycling etiquette, they certainly do it for adults as well as children over here, but don't know if they have that sort of thing on your side of the pond.
Title: Re: Saving to $10K
Post by: marielle on August 25, 2017, 06:11:12 AM
Finally POSITIVE net worth! Coincidentally, I've also been working for exactly a year.

Should stay this way forever provided I don't need a car or something stupid in the next few months!
Title: Re: Saving to $10K
Post by: Trifele on August 25, 2017, 07:09:03 AM
Congratulations Marielle!  Big milestone!

How is everyone else doing?  Let's finish August strong!
Title: Re: Saving to $10K
Post by: fluffmuffin on August 25, 2017, 10:38:10 AM
Way to go, Marielle! That's huge!
Title: Re: Saving to $10K
Post by: Imma on August 26, 2017, 07:41:40 AM
Congrats Fluffmuffin! And well done Mariella! Fingers crossed for no unexpected bills coming up.

I haven't actually ever calculated if I have a positive or negative net worth. I'm just tracking the money in investments / savings accounts in this thread. I think it must be positive, since there's some equity in our home (currently about €15.000 after 2 years, technically only half is mine) and we have little other debt, but as the equity is something we can't touch unless we sell the home or take out a second mortgage, I'd rather track my savings and investment accounts.
Title: Re: Saving to $10K
Post by: cazio on August 26, 2017, 12:20:17 PM
Joining!

Trying to get my net worth to 10k, but my first milestone will be to have 10k in my EF.

Current Savings:
EF: $6750
IRA: $1,500
Student Loans: -11,600
Net Worth:  $-3,350

I have about $2700 I'm expecting to get in the next few weeks to plug into this - let's go!
Title: Re: Saving to $10K
Post by: Tass on August 27, 2017, 11:53:29 PM
I tightened my bike's gear shift cable and went out for the first ride today! WHEW, I am not physically prepared for the hills around here, but I'm excited to keep working on it. Unfortunately this means commuting by bike is still a ways off, as my route is hilly and requires sharing the road (sans bike lane) for a bit, so I'm definitely not doing that until I've gained some muscle and confidence. But I'll hopefully be doing grocery runs by muscle power soon.

Speaking of grocery runs, I wondered last week whether I could make it to the end of the month without buying any more food, because I had met my $150 budget early. Just did the meal planning today and determined that it should be possible, so that's my personal little challenge for the week. It's gonna be a little carb-heavy, but mostly potatoes and homemade fresh bread. Planning to run out on the first and buy a bunch of bulk staples cheap to start September right.

August has gotten even worse for me on paper, spending-wise, but that's because I found great deals on holiday flights that I had budgeted into later months. This month's gain will be smaller than expected but my spreadsheet tells me the bigger gains in later months still has me on track for $10k by December!

Congrats on zero, marielle! Looks like cazio will be there soon too!
Title: Re: Saving to $10K
Post by: JanetJackson on August 29, 2017, 08:02:49 AM
OK UPDATE TIME!  I made a Deal/Challenge with myself for August to say "YES" to any offer to make extra money that A. Fit into my Schedule, and B. Paid enough to be at least reasonable (as in, not crap like driving 40 miles to help a friend clean her garage for $9/hr)... and I'm hoping it'll pay off! 
Not everything I said "Yes" to has paid out yet, but should by the end of the month.... so off we go with an update!

Assets:
Emergency fund + General savings = 5695
Vehicle Emergency Fund = 1184
Pet Emergency Fund = 589
Car Insurance collection (paid from yearly) = 113 (just paid this in July)
Camper/Tiny home Savings = 2360
Consistent Checking Surplus for immediate emergencies = 900
IRA = 22.06
Vanguard = 1100.00

TOTAL: 11,963.06   

Liabilities
Student Loan #1 = 11,000 at 1.9%
Student Loan #2 = 4,200 at 2.3%
TOTAL: 15,200.00


Net worth: -3236.94

*I get paid tomorrow via Job #1, so $200 will go to my E. Savings, and ~$550 will go to checking and then be dispersed after bills come out the 1-5th of the month.... Takes me to ~12,713.06 and Net Worth -2,486.94

I am at about $775 additional via side-hustle only from my "Say Yes" experiment, minus the cost of all of the extra coffee/energy drinks that have been necessary to sustain the experiment, and the extra gas money... (Maybe $25 extra in caffeine and $50 extra gas..?).  Two more dog walks (tomorrow) and one deep cleaning of a kitchen (Thursday) to go for this month... PHEW!

I may try to do this every other, or every third month... it's not sustainable every single month though... but very glad I did it to test my capacity.  I also worked extra hours at Job #2 (about 28 hours @~23/hr tutoring) this month- the majority of which haven't been invoiced yet.... ONWARD AND UPWARD

** I have not yet re-joined a new gym.  While the weather is good I have been taking part in the November Project in my area, taking long walks, going to Derby practices as usual (but with a little extra oomph knowing I am also now using it as "fitness") and weightlifting on my front stoop... I don't love the set up- I love Crossfit, but this'll do for now.

END

Sooooooo...
Since I made my 6mo car insurance payment, I am not showing as much progress, even though the other accounts went up. 
I am still enrolled and in classes, so I have not made any student loan payments, so those remain the same. 
I did adjust the income of my day job to split $200/mo from each check to go directly into savings- that starts this payday (Friday) so I am hoping it works out and I can survive within my budget (this tightens things up a bit more, where it's already pretty pretty tight).  I live only on the income from the day job and save everything from Job #2 and all side hustles (pet sitting, house cleaning, etc). 

I also quit my gym last week (sad face) so I won't have those payments for a few months until I find another gym home.  I am incomplete and miserable without a gym, and it's something I have to give myself and my health, but the atmosphere/situation at my gym was not improving the quality of my life in relation to the expense- so it was time to go!  Hopefully I can find something just a pinch cheaper, but fulfilling. 
I also pulled out $1100 from General Savings this month to open my Vanguard account!! 
I guess I'm not "technically" in the hole more, but it sure feels like it right now with this minimal progress.
I do have three $200-$400 pet-sitting gigs upcoming on my books, so that'll help!

Keep chugging along!  Choo Choo!

Assets:
Emergency fund + General savings = 5274
Vehicle Emergency Fund = 1183
Pet Emergency Fund = 539
Car Insurance collection (paid from yearly) = 101 (just paid this)
Camper/Tiny home Savings = 1703
Consistent Checking Surplus for immediate emergencies = 200
IRA = 22.06
Vanguard = 1100.00 :/

TOTAL: 8939.06

*It also makes me feel better to list these assets:
Car value: ~5000
Value if I sold literally everything else I own: maybe 600?



Liabilities
Student Loan #1 = 11,000 at 1.9%
Student Loan #2 = 5,200 at 2.3%
TOTAL: 16200


Net worth: -7260.94

I'm jumping in!
Assets:
Emergency fund + General savings = 4716
Vehicle Emergency Fund = 1183
Pet Emergency Fund = 523
Car Insurance collection (paid from yearly) = 297
Camper/Tiny home Savings = 1627
Consistent Checking Surplus for immediate emergencies = 200
IRA = 4.10 :/

TOTAL: 8550.10

*It also makes me feel better to list these assets:
Car value: ~5000
Value if I sold literally everything else I own: maybe 600?



Liabilities
Student Loan #1 = 11,000 at 1.9%
Student Loan #2 = 5,200 at 2.3%
TOTAL: 16200


Net worth: -7649.90
(gosh, almost makes me want to sell my car and walk the 30 miles to work....)
Title: Re: Saving to $10K
Post by: Imma on August 30, 2017, 06:20:56 AM
I' d like to join!

I get paid montly at the last day of the month, so today was pay day! I earn €1093 / month and did some overtime so I made €1144 this month. Overtime goes straight to the savings account. I also automatically transfer €125 to my investments account every pay day.

Savings:
June 30: €2000
July 31: €2400

Investments:
June 30: €1860,37
July 31:  €1985.37

Total:
June 30: € 3860.37
July 31:  €4385.37

Upcoming bills: €325 in taxes.

Payday today!

Savings:
July 31: €2400
August 30: €2000

Investments:
July 31:  €1985.37
August 30: €2095.00

Total:
July 31:  €4385.37
August 30: €4095.00

August has been an expensive month for us. I had to pay more than €300 in taxes, I travelled to relatives and friends several times and we did some DIY around the house. And on top of that, I don't think my boss paid me nearly enough money. According to my own calculations, I should have been paid €1380 instead of the €1270 I got (and I work in finance, I'm pretty sure I'm right).

I'll pick up the payslip tomorrow to see what's going on, but this happens way too often. I actually had a serious talk earlier this month about how sick I am of him always delaying payment of overtime, or "forgetting" to pay me or making up bullshit stories. It's a recurring thing. It's not that he disagrees or anything, it's just delaying in the hope I forget or feel too ashamed to ask. Our relationship is volatile but he had promised to pay all the unpaid overtime this time. I already know he's going to make up some bullshit excuse like "ooh, but I thought you only meant the overtime from April, I didn't know you wanted the overtime from July paid out as well?" .
Title: Re: Saving to $10K
Post by: fluffmuffin on August 30, 2017, 08:23:49 AM
I'll pick up the payslip tomorrow to see what's going on, but this happens way too often. I actually had a serious talk earlier this month about how sick I am of him always delaying payment of overtime, or "forgetting" to pay me or making up bullshit stories. It's a recurring thing. It's not that he disagrees or anything, it's just delaying in the hope I forget or feel too ashamed to ask. Our relationship is volatile but he had promised to pay all the unpaid overtime this time. I already know he's going to make up some bullshit excuse like "ooh, but I thought you only meant the overtime from April, I didn't know you wanted the overtime from July paid out as well?" .

That sounds horrible, Imma. You shouldn't have to deal with that.
Title: Re: Saving to $10K
Post by: cazio on August 30, 2017, 09:36:49 AM
Sunk another $1936 into the EF today!

Current Savings:
EF: $8,680
IRA: $1,500
Student Loans: $-11,600
Net Worth:  $-1,420

Trying to get my net worth to 10k, but my first milestone will be to have 10k in my EF.

Current Savings:
EF: $6750
IRA: $1,500
Student Loans: -11,600
Net Worth:  $-3,350
Title: Re: Saving to $10K
Post by: Imma on August 30, 2017, 09:43:04 AM
I'll pick up the payslip tomorrow to see what's going on, but this happens way too often. I actually had a serious talk earlier this month about how sick I am of him always delaying payment of overtime, or "forgetting" to pay me or making up bullshit stories. It's a recurring thing. It's not that he disagrees or anything, it's just delaying in the hope I forget or feel too ashamed to ask. Our relationship is volatile but he had promised to pay all the unpaid overtime this time. I already know he's going to make up some bullshit excuse like "ooh, but I thought you only meant the overtime from April, I didn't know you wanted the overtime from July paid out as well?" .

That sounds horrible, Imma. You shouldn't have to deal with that.

 - removed for privacy reasons -
Title: Re: Saving to $10K
Post by: without_a_map on August 30, 2017, 02:21:35 PM
Hi all! I'm in, just started saving properly since I got my first job in Dec 2016 after completing my PhD. My progress is looking ok considering my take home salary is about £20,000/year, but really lucky to be living rent free at the moment, so taking this opportunity to stash hard!

Current savings:
ISA: £2400
emergency fund: £4600
Premium bonds: £1000
S&S ISA (index funds): £915

Total: £8915

Not far to go, hoping to cross the line before I turn 30 at the end of Sept, better late than never to get over 5 figures net worth :)

Today is an exciting day!

Current savings:
ISA: £2600
emergency fund: £5820
Premium bonds: £1000
S&S ISA (index funds): £925

Total: £10,345

Woohoo! For the first time in my life i have a 5 figure net worth, and just before I hit 30 at the end of month. Also, I got a small but unexpected pay rise of about 1% which means £60 extra take home per month, and found out I'm getting some unexpected inheritance! Also had quite a low spending month, so all round good stuff, rather pleased with myself (very humble haha!) :)

I think I've got enough of a cash buffer now so I'm going to start putting more into index funds, and need to have a hunt around for a high interest cash savings account.

Well done everyone else this month!
Title: Re: Saving to $10K
Post by: Imma on August 30, 2017, 03:19:18 PM
Congratulations, without_a_map! Two big milestones at the same time.
Title: Re: Saving to $10K
Post by: LittleWanderer on August 31, 2017, 07:16:06 AM
Big congrats to Marielle and without_a_map!!  Two huge accomplishments!

August did not go as planned for me.  My phone finally died, my 12 year old dog needed to have expensive tests and X-rays done at the vet, and I loaned my boyfriend a chunk of change.  So even with my extra paycheck this month, my net worth didn't really go anywhere.  Sigh.  I'm not too upset through, because I was able to comfortably afford to do all those things without it being a catastrophe.  So I'm happy for that!

End of August update:

Emergency fund: $3920
401k: $2155
TOTAL: $6075
Title: Re: Saving to $10K
Post by: martyconlonontherun on August 31, 2017, 09:19:12 AM
Background:
Age: 29
"Switched" Careers at 25.
Started taking personal finances 'seriously' around 27 (aka actually saving money, 401k, etc).
Started taking personal finances seriously around 29
Salary gradually up to 65k
Married but don't include house (equity/mortgage) or joint savings in these calculations since she's the boss, it gets messy with house equity/sweat equity ($40k total on a $170k house in May), and it will just be cherry on the top.
-Paid off car but not adding value of that in the calculation since its not worth more than a few Gs and requires maintenance
-4.5 years left of student loan payments I'm aggressively paying off/refinanced in January 17
-15 year mortgage in May
-Not including 529 accounts-Only a few hundred now, but it will be going to Godchildren/my future children so not my money in my eyes.

January 2016-
($45k) Student Debt
($2k) Personal CC Debt
$8k 401k
NW: ($38k)

NW April 2016: ($34K)
July 2016: ($28.4k)
October 2016: ($22.6k)
January 2017: ($20.8k) (Refinanced loan and intransit payments not reflected)
April 2017: ($10.9k)
July 2017: ($5.7k)
August 2017: ($2.5k)

Stretch goal is to be $10k by 30 (Early January).
Hoping to increase 401k/IRA when the Sloans are paid off and hopefully some more salary. Realistic goal is to retire by 55 unless I really climb the corporate ladder.
Current September 2017:(~$1.7k) - Retirement accounts up to ~$30k. This is a very conservative NW without any joint accounts. I should have a couple g boost next month due to my salary change getting screwed up by HR and the company owing me back pay.

Looks like I'm averaging $6k a quarter but want to boast that to $10k a quarter in CY18 once I get a higher salary, cut back on spending, and have a higher investment portfolios for compounding gains.
Title: Re: Saving to $10K
Post by: cazio on August 31, 2017, 10:55:23 AM
Big congrats to Marielle and without_a_map!!  Two huge accomplishments!

August did not go as planned for me.  My phone finally died, my 12 year old dog needed to have expensive tests and X-rays done at the vet, and I loaned my boyfriend a chunk of change.  So even with my extra paycheck this month, my net worth didn't really go anywhere.  Sigh.  I'm not too upset through, because I was able to comfortably afford to do all those things without it being a catastrophe.  So I'm happy for that!


I'm in your boat! My phone just kicked the bucket last week and I had to shell out a lot for a new one, which knocked me off track by 6% for my EF goal. But I was definitely thankful to have what I did in my EF so it wasn't a catastrophe, like you said! It's a nice feeling, even if it takes a bite too.
Title: Re: Saving to $10K
Post by: Tass on August 31, 2017, 08:50:22 PM
July:

Emergency fund: $5,000.00
Roth IRA: 3267.05
Misc. cash: $562.51

"Student" debt: (2647.11)

Net worth: $6182.45

August:

Emergency fund: $5,004.29
Roth IRA: 3414.96
Misc. cash: $865.27

"Student" debt: (2397.11)

Net worth: $6888.41
Change: +$705.96

Do any of you guys use Mint's carry-a-balance feature in your budgets, or something like it? My thinking was I could save up for a restaurant splurge, etc, but the result is I end up accumulating budget debt... Can't decide if that's just good motivation not to go over or if I ought to give myself a little more breathing room.

Congrats on graduating, without_a_map!
Title: Re: Saving to $10K
Post by: Trifele on September 01, 2017, 04:20:08 AM

Today is an exciting day!

Current savings:
ISA: £2600
emergency fund: £5820
Premium bonds: £1000
S&S ISA (index funds): £925

Total: £10,345

Woohoo! For the first time in my life i have a 5 figure net worth, and just before I hit 30 at the end of month.


Congrats and well done WithoutAMap!!  Come on up to the next thread [extends hand] -- lots of nice folks on that journey. 
Title: Re: Saving to $10K
Post by: Jim Fiction on September 01, 2017, 05:11:23 AM
Some really inspiring stuff in this thread! Might as well join in the fun myself.

Looking to get my net worth to 10K by the end of the year. The items below include only my accounts and does not include my wife's (she's in a lot better shape financially than I am.)

Current:

Bank Accounts: $6,186
HSA: $3,956
Roth 401K: $16,146
TOTAL ASSETS: $26,288

Student Loans: $(23,427)
Credit Cards: $(92)
TOTAL DEBT: $(23,519)

NET WORTH: $2,769

I started 2017 at $(8,578) so it has been a nice turnaround, overall. I haven't been as mustachian as I would have liked, and there were some pricey car repairs and some unexpected health expenses, but I am still happy with my progress.

All August bills are paid so I thought it would be a good time to provide an update. As of 8/31 my net worth is $ 4,964. That was a month-to-month change of $2,195, if I really put in the effort I think I can hit  $10K by the end of October. I already got rid of a few subscription services which saves me $20 a month so that's a start!
Title: Re: Saving to $10K
Post by: fluffmuffin on September 01, 2017, 11:23:33 AM
Way to go, everyone! Sounds like some great progress is happening!

7/13/2017: $2,238.41
8/1/2017: $2,771.40
8/16/2017: $3,071.40
9/1/2017: $3,202.61

I semi-impulse-booked a vacation with my mom in March. By "semi-impulse" I mean, it's something I'd wanted to do for a long time but hadn't started saving for specifically, but then I saw a really awesome flight deal and hopped on it. So I couldn't hit my house goal for paycheck #1 in September, although I'll be putting extra money in from paycheck #2 to make up for it. Facepunch away (except that I have no regrets and am super-excited, so I don't actually care if you facepunch me).

What I'm actually angry with myself about is forgetting to cancel Hulu. I'd signed up for the free month, put up a calendar reminder to cancel it before I got charged, and then work got super-busy on Monday and I just completely forgot. I'm not usually sloppy about stuff like that.
Title: Re: Saving to $10K
Post by: Imma on September 01, 2017, 02:04:12 PM
Not facepunch-worthy, Fluffmuffin! One good thing about being frugal is being able to afford the things that really matter and spending time with family is definitely one (assuming you're not staying in the most fancy place in town, that's always facepunch-worthy) .

I could save more if I didn't make frequent trips to go see my grandma who's 84, and to friends around the country, but as long as I've got a roof over my head, those trips are a financial priority.
Title: Re: Saving to $10K
Post by: fluffmuffin on September 01, 2017, 02:25:03 PM
Definitely not staying in the fanciest spot possible...we've got a nice AirBnB, but nothing overly plush. I just love traveling and will give up a lot of things to make it a priority!
Title: Re: Saving to $10K
Post by: Tass on September 03, 2017, 12:03:37 AM
I did my first bike trip to the grocery store today! I had to take one little break in the middle, but mostly my success was facilitated by discovering it's almost the same distance to go around the giant hill between us as it is to go over it. Oops. I got a few extra workouts earlier this week.
Title: Re: Saving to $10K
Post by: Slanhirn on September 03, 2017, 09:01:00 AM
July 2017 - (£2,877)
August 2017 - (£1,852)  = +£1,025
September 2017 - (£650) = +£1,202
Assets = £15,241
Debts = (£15,891) -> student loans

Very close to my £0 net worth goal, I've missed my goal of meeting it by the 1st September but will definitely be hitting it by the 1st October! I'm pretty excited at being so close (I'll have to think up a frugal celebration this month)!

Looks like everyone's making good progress here and congrats Tass on the bike ride :).
Title: Re: Saving to $10K
Post by: haypug16 on September 06, 2017, 08:26:26 AM
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) -2,882.29
6 month average Net Worth increase = $935.41


August was going so well then my cat ended up with a really bad infection and had to be admitted to the Vet Hospital while I was away on my Honeymoon, $4K later and she is doing better but that was a big set back. My husband is going to split the cost with me so I should bounce back "fairly" soon.
Title: Re: Saving to $10K
Post by: Bella78 on September 06, 2017, 09:40:20 AM
Unfortunately, August was not the best month for me.  While the numbers all went in the right direction, it wasn't as good as I was expecting.  Hopefully September will be better.

July 1/2017 = (30391.30)
August 1/2017 = (29732.73)
September 1/2017 = (29,296.35) + $436.38


Title: Re: Saving to $10K
Post by: fluffmuffin on September 15, 2017, 06:40:40 AM
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

I still owe the house fund $173.32, dangit. I know I said I'd get it from this paycheck but I just couldn't quite manage it, after budgeting the last $500 I needed for the AirBnb. This is outside the parameters of this gauntlet thread, but I also just started contributions to a new traditional IRA. Since I started my current job, I haven't saved anything extra for retirement above what I have through my work plan, and that really needs to change.

Sad to report that I feel like I'm not making progress towards the bike-commute, either. I'm training for a half marathon in November and I just don't have the time or energy right now to put in a lot of practice time on the bike. I'm in good shape and I'm a LOT better at running than biking, so I've never actually managed to bike fast enough or long enough that it's become physically challenging. I try to get out on the bike once or twice a week, but I just can't realistically sub biking for running if I want to hit my goal time for the race. And I don't like doubling up with two forms of leg-based cardio, even though biking barely counts as that for me. Sigh.

How's everyone else doing?
Title: Re: Saving to $10K
Post by: Imma on September 15, 2017, 12:22:00 PM
Well, you're still making progress Fluffmuffin! Some months are better than others. If you're training for a serious distance, I wouldn't want to mess that up by taking up cycling as well. Cycling can wait for a few months. And who knows, next year you might be training for a duathlon.

I only get paid once a month so I don't officially know yet how I'm doing this month, but I can tell you already this is another spendy month. We have a belated summer vacation right now and we're spending that doing much needed home renovations. It's mostly DIY and cheap stuff, but you always end up buying more materials and tools than expected and we'll be renting a van next week to take a lot of trash to the dump (we don't own a car). We're doing that on the cheap though; a friend of ours is moving and we're renting the van together so we can share costs.
Title: Re: Saving to $10K
Post by: recklesslysober on September 15, 2017, 12:32:16 PM
The last few months:

-$83,800 July
-$81,600 August
-$79,300 September

+$50K net worth in the past 21 months, and student loan is down to $99,700 today (started at $130,400)! Ready to crush the rest over the next few years and be done with it once and for all in 2020!
Title: Re: Saving to $10K
Post by: DieHard_772 on September 15, 2017, 12:37:42 PM

Okay, update time:


Money set aside for Self-Employment taxes: $947
Money in Bank Accts and Savings for spending : $1930
Our Savings:  $2203
My IRAs:  $7623
HSA: $1459
Wife IRA:   $1326
Money to be invested this month:  $167

TOTAL ASSETS: $15655

Current Liabilities
Credit card: $3180**
Student loan: $4454

**doesn't include about $160 I used a card to charge new glasses.  But that is 0% apr for 6 months and will be paid off.

TOTAL LIABILITIES: $7634


CURRENT NETWORTH:  $8021

OVERALL:
Okay, so there was a dip according to these numbers only because there is less in the bank accounts (which are used for monthly spending).
Nonetheless, the growth was less than usual because of a bit of a cash flow situation I had that reduced how much I could set aside...  Intending
to get back into the swing of things.

On the good side, our investments now total $10,575!

Things are improving, and I'm looking forward to even more progress...


tax money: $0 (-930)
Money in Bank Accts and Savings for spending : $1811  (-$119)
Our Savings:  $2233  (+$30)
My IRAs:  $7890  (+$267)
HSA: $1712   (+$253)
Wife IRA:   $1633  (+$307)


TOTAL ASSETS: $15279  (-$376)*

Current Liabilities
Credit card: $3075  (-$105)
Student loan: $4418 (-$36)


TOTAL LIABILITIES: $7493  (-$141)


CURRENT NETWORTH:  $7785*

OVERALL:
Current assets and networth dropped because of normal expenses.  A lot of that was paying estimated taxes.
That not withstanding, and despite me putting away less than usual, our investments grew by $827, which surprised me... I'm sure the market helped there.  Also, our investments surpasses $11,000 for the first time ever.

Anyway, I'm grateful to see the growth.  Onward and upward...
Title: Re: Saving to $10K
Post by: LittleWanderer on September 15, 2017, 01:34:19 PM
Fluffmuffin - I totally understand.  I'm also a runner and it's very hard to find a balance between running and biking, especially if you're training for a race.  How far would your commute be?

I got some bad news from the dentist.  I have to get an implant to the tune of $4K.  Sigh.  Around $2K next month to get the tooth extracted, and then another $2K 3 months later to get the new tooth.  Looks like I'll be hanging around this thread a while longer than I expected.  Such is life.  I guess that's why I have an e-fund, but FFS, I'm really tired of it going up and then right back down!
Title: Re: Saving to $10K
Post by: marielle on September 15, 2017, 01:59:18 PM
Fluffmuffin - I totally understand.  I'm also a runner and it's very hard to find a balance between running and biking, especially if you're training for a race.  How far would your commute be?

I got some bad news from the dentist.  I have to get an implant to the tune of $4K.  Sigh.  Around $2K next month to get the tooth extracted, and then another $2K 3 months later to get the new tooth.  Looks like I'll be hanging around this thread a while longer than I expected.  Such is life.  I guess that's why I have an e-fund, but FFS, I'm really tired of it going up and then right back down!

Wait, $2k to extract a tooth? If you're getting an implant then no root canal, crown, nothing. Shouldn't it be like $150 to extract a tooth?
Title: Re: Saving to $10K
Post by: Imma on September 15, 2017, 02:06:16 PM
$2000 to get a tooth extracted? That sounds almost like extortion :o When it comes to health care, I understand finding the best provider is most important, but in this case I would try to shop around a bit.
Title: Re: Saving to $10K
Post by: LittleWanderer on September 15, 2017, 02:51:41 PM
That's what the dentist told me the other day.  For some reason a tooth extraction isn't covered by my medical OR dental insurance, I don't think?  (I have both.)  Anyway, they need to prep for the implant to go in too - not entirely sure what's involved with that.  From the little I've read, $4K seems about average in the US.  Ugh. 
Title: Re: Saving to $10K
Post by: Imma on September 15, 2017, 03:54:19 PM
I would still check it out, just to be sure. I'm in Europe, so the circumstances are different, but without any dental insurance I'd still expect to pay somewhere around €100-€150 depending on how complicated the extraction would be and how many shots of anesthetic you need. I think having all your teeth extracted would cost you less than $2000, I mean, we are talking about half an hour's work. $2000 just seems insane. Implants are expensive, but extracting teeth is about the cheapest procedure you can get at the dentist.

 
Title: Re: Saving to $10K
Post by: Tass on September 15, 2017, 05:39:19 PM
I'm in Europe, so the circumstances are different

That really doesn't begin to cover the mess that is American healthcare. Alas.
Title: Re: Saving to $10K
Post by: Hargrove on September 15, 2017, 05:59:59 PM
Yep, in the US, most dental insurance is a coupon against 1k-1.5k in dental expenses. It's actually not difficult to pay more in premiums for family dental than it saves you even when using the entire value of the policy. I had a cavity that would not, for sure, be fixed by a crown. I managed to get an up-front estimate, which is actually not easy to do, of about 3.5k if the tooth didn't crumble and took a crown, and 5-6k if the tooth did crumble (for a root canal). Luckily, it took the crown, and I was out about 2.5k out-of-pocket.

Sorry, just visiting! I like to read about new recruits making it work. The stress relief when I first had 5k aside and some cashflow, and I realized an emergency was a speed bump instead of a disaster prompt... that was amazing. Keep it up!
Title: Re: Saving to $10K
Post by: Trifele on September 16, 2017, 04:14:56 AM
The last few months:

-$83,800 July
-$81,600 August
-$79,300 September

+$50K net worth in the past 21 months, and student loan is down to $99,700 today (started at $130,400)! Ready to crush the rest over the next few years and be done with it once and for all in 2020!

You rock, RecklesslySober!   Way to keep it up!  Congrats on passing the milestone. 
Title: Re: Saving to $10K
Post by: haypug16 on September 18, 2017, 06:28:35 AM
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) -2,882.29
6 month average Net Worth increase = $935.41


August was going so well then my cat ended up with a really bad infection and had to be admitted to the Vet Hospital while I was away on my Honeymoon, $4K later and she is doing better but that was a big set back. My husband is going to split the cost with me so I should bounce back "fairly" soon.

The good news is my Net-worth is back around the July number (44,684.34), though my CC is still higher than it was then (by about $1,200), I get paid Friday and will be able to pay that off, as well as a little more. I'm really pleased with the fact that I was able to recover so quickly. I think I will end up not having to pay any additional interest on my CCs due to that $4K vet bill. I realize I could have had even less interest had I not had this vet bill, so it's only a small comfort.

The first week of October I get my Severance "Bonus" which will be 2 months of pay, plus I'll get my one week in arrears, and about 1 week of Vacation time paid out. This will take care of nearly all my CC debt!!! I'm so excited. I'll be down to 1 CC to pay off and that should hopefully be taken care of by mid-2018, then I get to focus on my $60K in Student Loans. Yay?
Title: Re: Saving to $10K
Post by: lemonverbena on September 20, 2017, 08:28:54 PM
Jan 2017:
SEP IRA: $225
Car loan: -$7825

Total: -$7600


Late Jan 2017:
SEP IRA: $225
tIRA: $1590
Car loan: -$7825

Total: -$6010


Mid Feb 2017:
SEP IRA: $226
tIRA: $1604
Car loan: -$5593

Total: -$3763

Mar 2017:
SEP IRA: $227
tIRA: $1630
Car loan: -$5593
Roof loan: -$8864

Total: -$12,600

Numbers going way in the wrong direction, but a roof replacement is so overdue and it feels good to be taking care of it. Should have half of it paid off by the end of the month.

Actually, make that by the end of June.

Mid-Apr 2017:
SEP IRA: $231
tIRA: $1624
Car loan: -$5120
Roof loan: -$8864
Emergency fund: $1000

Total: -$11,129

Late-Jun 2017:
SEP IRA: $245
tIRA: $1702
Car loan: -$4645
Roof loan: -$3864
Emergency fund: $1000

Total: -$5,562

Not even close to zero yet, but moving in the right direction again!

Mid-Sep:
SEP IRA: $581
tIRA: $1777
Car loan: $3931
Roof loan: $3649
Emergency fund: $0

Total: -$5,222

My number is basically the same as before, but life happened and now I need to replenish the emergency fund after a trip my spouse took to urgent care turned into an ambulance ride to the ER and a three day stay in the hospital. He now has an incurable autoimmune disease that will require lots of pharmaceuticals for the rest of his life. It has been an adjustment, for sure. So thankful he has good health insurance and we were able to deal with this with our meager emergency fund, but we also really wish we would have signed up for life insurance while he was still healthy!
Title: Re: Saving to $10K
Post by: runbikerun on September 25, 2017, 01:20:21 AM
As of today, I have 5,299.66 in my emergency fund. Halfway point has been cleared, and I'm almost exactly nine months from the 10k mark based on my current trajectory. Looking forward to arranging a meeting with my pension administrator next July to ramp up my contributions.
Title: Re: Saving to $10K
Post by: Manchester on September 27, 2017, 03:59:29 AM
Hi Everyone, this is my first post, so be kind!

I'm an overseas MMM reader from the UK.  I've been obsessed with the idea of being financially independent for years now, however some bad decisions have probably put retirement a good 10-15 years off.  I'm 24 years old, I live with my girlfriend of 7 years.  I have roughly £50k equity in my house as well as a £180k mortgage (28/30 years to go) - however I have no current means of creating an income through the equity in this property so will not count it towards my goal below.  I'm happy with the debt, currently I pay 3.04% interest (which will be renegotiated and reduced in February) and the housing market where I live is very strong so I shouldn't have any issues recouping my money should I ever decide to sell.  My sister got married on the 5th of this month, and that included a week long trip to Vegas, which went over budget, and now I'm back home in England thinking about how many face punches I deserve.  (I still can't understand how it's considered normal to pay $20 for a cocktail by the pool!!!!).

Hopefully I'm on the right track now - I had a company car, but here in England we pay benefits in kind tax on any fringe benefits your receive from work.  I've got rid of that, taken a car allowance and gone for a less glamourous car which all in will save me a few hundred £ a month (the last car was very expensive - more face punches are required). I've also been scrimping and saving on shopping, prepping meals so I don't buy overpriced lunches/dinners etc. 

I officially threw down the gauntlet on the 22nd, so I'll start from there.  I want my net worth (not including my house) to reach £10k ASAP - I've set a mini target of getting it up to £3k by the 22nd of Feb 2018.

22/09/2017: 
Current account - £927.07
Emergency fund - £1.58
Investments - £0
Credit Card debt - -£1,288.72
Payments Due this month - -£1022

Total - -£1,382.07

Today was payday so I'm planning to smash the cc debt first, and then start filling up the EF and Investments later.

There are a couple of you on here who's positivity and encouragement for other posters has really encouraged me to stop thinking about 'going for it' and to just do it!  Thanks!

Title: Re: Saving to $10K
Post by: without_a_map on September 27, 2017, 07:31:30 AM
Hi Everyone, this is my first post, so be kind!

I'm an overseas MMM reader from the UK.  I've been obsessed with the idea of being financially independent for years now, however some bad decisions have probably put retirement a good 10-15 years off.  I'm 24 years old, I live with my girlfriend of 7 years.  I have roughly £50k equity in my house as well as a £180k mortgage (28/30 years to go) - however I have no current means of creating an income through the equity in this property so will not count it towards my goal below.  I'm happy with the debt, currently I pay 3.04% interest (which will be renegotiated and reduced in February) and the housing market where I live is very strong so I shouldn't have any issues recouping my money should I ever decide to sell.  My sister got married on the 5th of this month, and that included a week long trip to Vegas, which went over budget, and now I'm back home in England thinking about how many face punches I deserve.  (I still can't understand how it's considered normal to pay $20 for a cocktail by the pool!!!!).

Hopefully I'm on the right track now - I had a company car, but here in England we pay benefits in kind tax on any fringe benefits your receive from work.  I've got rid of that, taken a car allowance and gone for a less glamourous car which all in will save me a few hundred £ a month (the last car was very expensive - more face punches are required). I've also been scrimping and saving on shopping, prepping meals so I don't buy overpriced lunches/dinners etc. 

I officially threw down the gauntlet on the 22nd, so I'll start from there.  I want my net worth (not including my house) to reach £10k ASAP - I've set a mini target of getting it up to £3k by the 22nd of Feb 2018.

22/09/2017: 
Current account - £927.07
Emergency fund - £1.58
Investments - £0
Credit Card debt - -£1,288.72
Payments Due this month - -£1022

Total - -£1,382.07

Today was payday so I'm planning to smash the cc debt first, and then start filling up the EF and Investments later.

There are a couple of you on here who's positivity and encouragement for other posters has really encouraged me to stop thinking about 'going for it' and to just do it!  Thanks!

Hi there! I'm in the UK too :)

You are way ahead of me as I am nowhere near getting on the housing ladder! Keep up the good work, get that CC debt killed off ASAP if it isn't 0% interest!
Title: Re: Saving to $10K
Post by: DieHard_772 on September 27, 2017, 10:20:16 AM
As of today, I have 5,299.66 in my emergency fund. Halfway point has been cleared, and I'm almost exactly nine months from the 10k mark based on my current trajectory. Looking forward to arranging a meeting with my pension administrator next July to ramp up my contributions.

Way to go, that is awesome. 
Title: Re: Saving to $10K
Post by: DieHard_772 on September 27, 2017, 10:21:07 AM
Hi Everyone, this is my first post, so be kind!

I'm an overseas MMM reader from the UK.  I've been obsessed with the idea of being financially independent for years now, however some bad decisions have probably put retirement a good 10-15 years off.  I'm 24 years old, I live with my girlfriend of 7 years.  I have roughly £50k equity in my house as well as a £180k mortgage (28/30 years to go) - however I have no current means of creating an income through the equity in this property so will not count it towards my goal below.  I'm happy with the debt, currently I pay 3.04% interest (which will be renegotiated and reduced in February) and the housing market where I live is very strong so I shouldn't have any issues recouping my money should I ever decide to sell.  My sister got married on the 5th of this month, and that included a week long trip to Vegas, which went over budget, and now I'm back home in England thinking about how many face punches I deserve.  (I still can't understand how it's considered normal to pay $20 for a cocktail by the pool!!!!).

Hopefully I'm on the right track now - I had a company car, but here in England we pay benefits in kind tax on any fringe benefits your receive from work.  I've got rid of that, taken a car allowance and gone for a less glamourous car which all in will save me a few hundred £ a month (the last car was very expensive - more face punches are required). I've also been scrimping and saving on shopping, prepping meals so I don't buy overpriced lunches/dinners etc. 

I officially threw down the gauntlet on the 22nd, so I'll start from there.  I want my net worth (not including my house) to reach £10k ASAP - I've set a mini target of getting it up to £3k by the 22nd of Feb 2018.

22/09/2017: 
Current account - £927.07
Emergency fund - £1.58
Investments - £0
Credit Card debt - -£1,288.72
Payments Due this month - -£1022

Total - -£1,382.07

Today was payday so I'm planning to smash the cc debt first, and then start filling up the EF and Investments later.

There are a couple of you on here who's positivity and encouragement for other posters has really encouraged me to stop thinking about 'going for it' and to just do it!  Thanks!

Welcome aboard!  You can do it... you already are
Title: Re: Saving to $10K
Post by: Imma on September 27, 2017, 10:22:13 AM
Hi Manchester!

Welcome and good luck! I'm from your side of the Atlantic too, although not in the UK (the Netherlands). Manchester  Well done buying a house aged 22. I bought a house in the same year but I was a bit older than you (nearly 25). You're right about not counting on the home equity, I don't do that either. In my area we have a very strong housing market right now but I have the gut feeling prices will be going down in the near future, and anyway, you can't access the money unless you sell up. Don't waste your time regretting bad decisions; you are very young and you're doing well for your age even if you have a small credit card debt and no emergency fund. Even if you need 15 years to FIRE, you'll FIRE before the age of 40.
Title: Re: Saving to $10K
Post by: DieHard_772 on September 27, 2017, 10:32:57 AM
For the first time ever, our assets minus liabilities add up to over $10,000 :)

Onward and upward
Title: Re: Saving to $10K
Post by: Imma on September 27, 2017, 10:44:16 AM

Payday today!

Savings:
July 31: €2400
August 30: €2000

Investments:
July 31:  €1985.37
August 30: €2095.00

Total:
July 31:  €4385.37
August 30: €4095.00

Savings:
August 30:       €2000
September 27: €1300

Investments:
August 30:       €2095
September 27: €2253

Total:
August 30:       €4095
September 27: €3553

September was a very expensive month for us, as you can see. Still it could be worse. I spent €500 on renovating the bathroom (that's half of the amount, my partner paid the other half). We had it re-plastered, re-tiled, we added a toilet, replaced the radiator and the ventilator and did some other minor stuff. This amount includes all the supplies and some hired help so all in all it's a pretty good deal. It's also not a luxury renovation but a real necessity. The upstairs toilet isn't a luxury either because I suffer from bowel disease and I've fallen from the stairs twice while getting up half-awake in the middle of the night to go to the downstairs bathroom. We chose basic materials, not designer items, and a white-and-grey colour scheme.

We also replaced the fridge/freezer because it had been broken for some time. We were lucky to be able to buy the new fridge and freezer from a friend that's moving away for the grand total of €50. We also paid €250 (half of what she paid a year ago) for her washing machine because ours is on the verge of breaking down. All the appliances we replaced were more than 10 years old, so the replacement was expected. We also spent €95 on renting a van to take them to our house and to get rid of the old appliances because we don't have a car and neither does the friend.

On top of that we went on a trip to the coast for a few days, stayed in an AirBnB and prepared food from the supermarket and I bought some new clothes for work. I try to buy second hand whenever I can, but it's very hard to find proper work clothes in my size. I only had a few items left so I had no choice but to buy new. Going on holiday might not have been the best decision financially either, but we hadn't been away for a couple of years and we really enjoyed it. Even when you go away on the cheap, it's still very good for your relationship to be away from normal life for a couple of days.
Title: Re: Saving to $10K
Post by: Trifele on September 28, 2017, 04:12:59 AM
For the first time ever, our assets minus liabilities add up to over $10,000 :)

Onward and upward

DieHard!!  You did it!   Congrats, and onward!  :)
Title: Re: Saving to $10K
Post by: LittleWanderer on September 28, 2017, 10:22:55 AM
For the first time ever, our assets minus liabilities add up to over $10,000 :)

Onward and upward

Yay, DieHard!!! :)  Congratulations!
Title: Re: Saving to $10K
Post by: LittleWanderer on September 28, 2017, 10:29:29 AM
End of September update:

Emergency fund: $5099
401k: $2621
TOTAL: $7720

I am back to being the richest I have ever been.  Onward we march!

I'm going on my mega cheap mustachain vacation in less than two weeks: backpacking on Appalachian Trail.  (What I've spent in gear over the years hopefully gets made up with all the camping we do!  I can't remember the last time I stayed in a hotel.)
Title: Re: Saving to $10K
Post by: Imma on September 28, 2017, 10:39:14 AM
For the first time ever, our assets minus liabilities add up to over $10,000 :)

Onward and upward

Congrats! Well done!
Title: Re: Saving to $10K
Post by: runbikerun on September 28, 2017, 11:42:07 AM
For the first time ever, our assets minus liabilities add up to over $10,000 :)

Onward and upward

Congratulations!

What's the procedure in these circumstances? Do we throw a virtual graduation party of some description?
Title: Re: Saving to $10K
Post by: martyconlonontherun on September 28, 2017, 07:19:32 PM
Background:
Age: 29
"Switched" Careers at 25.
Started taking personal finances 'seriously' around 27 (aka actually saving money, 401k, etc).
Started taking personal finances seriously around 29
Salary gradually up to 65k
Married but don't include house (equity/mortgage) or joint savings in these calculations since she's the boss, it gets messy with house equity/sweat equity ($40k total on a $170k house in May), and it will just be cherry on the top.
-Paid off car but not adding value of that in the calculation since its not worth more than a few Gs and requires maintenance
-4.5 years left of student loan payments I'm aggressively paying off/refinanced in January 17
-15 year mortgage in May
-Not including 529 accounts-Only a few hundred now, but it will be going to Godchildren/my future children so not my money in my eyes.

January 2016-
($45k) Student Debt
($2k) Personal CC Debt
$8k 401k
NW: ($38k)

NW April 2016: ($34K)
July 2016: ($28.4k)
October 2016: ($22.6k)
January 2017: ($20.8k) (Refinanced loan and intransit payments not reflected)
April 2017: ($10.9k)
July 2017: ($5.7k)
August 2017: ($2.5k)
September 2017:(~$1.7k)

Stretch goal is to be $10k by 30 (Early January).
Hoping to increase 401k/IRA when the Sloans are paid off and hopefully some more salary. Realistic goal is to retire by 55 unless I really climb the corporate ladder.
Current  August 2017: $1.8K - Investments ~$31.7k. This is a very conservative NW without any joint accounts. Boost in current money due to back pay
Title: Re: Saving to $10K
Post by: Manchester on September 29, 2017, 05:23:51 AM
Hi Everyone, thanks for the positive feedback! 

Die Hard - well done!!  In a way it's both positive and also a shame that you won't be posting as much on this particular topic.  Hopefully all of us will get to catch up in the race to 100k! :D
Title: Re: Saving to $10K
Post by: Slanhirn on September 29, 2017, 05:29:22 AM
July 2017 = (£2,877)
August 2017 = (£1,852)  = +£1,025
September 2017 = (£650) = +£1,202
October = £1,238 = + £1,888

Assets = £16,738
Debts = (£15,500) -> student loans

Woop! Passed the £0 net worth milestone and now officially into positive net worth! On to reaching £10K net worth now :). Aiming to get there in Feb 2018.

Also, congrats DieHard! Good luck with the race to 100K!

Title: Re: Saving to $10K
Post by: cazio on September 29, 2017, 08:03:08 AM
Double whammy! Positive net worth AND 10k in savings! I'll still be here to try to get that Net Worth up to $10k, but I'm super pumped!


Current Savings:
EF: $10,067!!!!
IRA: $1,500
Student Loans: -$11,478
Net Worth:  $89!!!

Sunk another $1936 into the EF today!

Current Savings:
EF: $8,680
IRA: $1,500
Student Loans: $-11,600
Net Worth:  $-1,420

Title: Re: Saving to $10K
Post by: Imma on September 29, 2017, 01:05:16 PM
Double whammy! Positive net worth AND 10k in savings! I'll still be here to try to get that Net Worth up to $10k, but I'm super pumped!


Current Savings:
EF: $10,067!!!!
IRA: $1,500
Student Loans: -$11,478
Net Worth:  $89!!!

Sunk another $1936 into the EF today!

Current Savings:
EF: $8,680
IRA: $1,500
Student Loans: $-11,600
Net Worth:  $-1,420


Congrats! Must be very motivating to have a positive net worth now.

I'm tracking investments + savings instead of net worth. As we have about €15000 in equity in the house currently (on a €90000 home we bought 2 years ago) my net worth is theoretically over €10000, but as we're in a huge housing market bubble and not planning to sell for 10+ years, I mentally disregard that money. It doesn't count until it's in my bank accounts.
Title: Re: Saving to $10K
Post by: Jim Fiction on September 29, 2017, 05:54:54 PM
Some really inspiring stuff in this thread! Might as well join in the fun myself.

Looking to get my net worth to 10K by the end of the year. The items below include only my accounts and does not include my wife's (she's in a lot better shape financially than I am.)

Current:

Bank Accounts: $6,186
HSA: $3,956
Roth 401K: $16,146
TOTAL ASSETS: $26,288

Student Loans: $(23,427)
Credit Cards: $(92)
TOTAL DEBT: $(23,519)

NET WORTH: $2,769

I started 2017 at $(8,578) so it has been a nice turnaround, overall. I haven't been as mustachian as I would have liked, and there were some pricey car repairs and some unexpected health expenses, but I am still happy with my progress.

All August bills are paid so I thought it would be a good time to provide an update. As of 8/31 my net worth is $ 4,964. That was a month-to-month change of $2,195, if I really put in the effort I think I can hit  $10K by the end of October. I already got rid of a few subscription services which saves me $20 a month so that's a start!

Well I did it! My net worth is current sitting at $11,511! I had a great month where I trimmed down some more expenses and I also received my company's yearly contribution to my 401k, which put me over the hump.

I'm off to the race to $100k thread. I hope to see all of you there soon!
Title: Re: Saving to $10K
Post by: Tass on September 29, 2017, 11:47:13 PM
July:

Emergency fund: $5,000.00
Roth IRA: 3267.05
Misc. cash: $562.51

"Student" debt: (2647.11)

Net worth: $6182.45

August:

Emergency fund: $5,004.29
Roth IRA: 3414.96
Misc. cash: $865.27

"Student" debt: (2397.11)

Net worth: $6888.41
Change: +$705.96

Emergency + travel fund: $6340.05 (these got combined for interest reasons - $5k is for emergencies.)
Roth IRA: 3579.84
Misc. cash: $257.41

"Student" debt: (1897.11)

Net worth: $8280.19
Change: +$1391.78

In my September budget overall, I was under target in every single category except food, where I was $10 over in work lunch budget and $1 over overall (meaning I was far enough under in other food areas to almost make up that $10). I also spent $91 miscellaneous and made an extra $30 from jury duty. Plus it was a three-paycheck month!

Next month, I'm getting a small raise but not changing my spending budget. I'm projected to cross $10k by December with $400 to spare so far. (Knock on wood?) I'm more than halfway paid through my debt and I should be done by February.

In other words, I'm psyched!
Title: Re: Saving to $10K
Post by: Imma on September 30, 2017, 03:44:15 AM
Some really inspiring stuff in this thread! Might as well join in the fun myself.

Looking to get my net worth to 10K by the end of the year. The items below include only my accounts and does not include my wife's (she's in a lot better shape financially than I am.)

Current:

Bank Accounts: $6,186
HSA: $3,956
Roth 401K: $16,146
TOTAL ASSETS: $26,288

Student Loans: $(23,427)
Credit Cards: $(92)
TOTAL DEBT: $(23,519)

NET WORTH: $2,769

I started 2017 at $(8,578) so it has been a nice turnaround, overall. I haven't been as mustachian as I would have liked, and there were some pricey car repairs and some unexpected health expenses, but I am still happy with my progress.

All August bills are paid so I thought it would be a good time to provide an update. As of 8/31 my net worth is $ 4,964. That was a month-to-month change of $2,195, if I really put in the effort I think I can hit  $10K by the end of October. I already got rid of a few subscription services which saves me $20 a month so that's a start!

Well I did it! My net worth is current sitting at $11,511! I had a great month where I trimmed down some more expenses and I also received my company's yearly contribution to my 401k, which put me over the hump.

I'm off to the race to $100k thread. I hope to see all of you there soon!

Another graduate! Well done!
Title: Re: Saving to $10K
Post by: Moonwaves on September 30, 2017, 05:15:09 AM
Congratulations to those who've graduated to the race to 100k thread!

Savings on 4 July 2017
BoI savings a/c: 12.62
DiBa ETF: 144.75 (this is a savings plan that €50 goes into every month)
CmzBank savings a/c: 100.00
Total:  257.37
So, savings as at 31 July 2017 (minimal changes this month)
BoI savings a/c: 12.62
DiBa ETF: 191.78
CmzBank savings a/c: 100.00
Total:  304.40

And apparently I skipped August. Have been very, very busy with side gig AND moving (far quicker than expected) to working full-time again (up from 30 to 40hrs/wk). I am pretty annoyed though that it happened so fast accounting has apparently not caught up yet so I didn't get paid for the additional 10 hrs I worked the last two weeks. It'll get paid out at the end of October. Not a huge amount but annoying to not get it. And almost all of the side-gig income is still outstanding. Finishing up another huge job this weekend and next week and once I've issued that invoice, I'll start chasing the others. I may actually be able to pay my sister back and have enough to put aside to cover my tax bill and still be making progress on saving.

As at 30 September 2017, here's how savings stand:
BoI savings a/c: 12.62
DiBa ETF: 294.72
CmzBank savings a/c: 100.00
Total:  407.34
Title: Re: Saving to $10K
Post by: MrMustache on September 30, 2017, 10:35:20 AM
Assets:
Cash: 2600
401k: 1280 (stopped contributing since no match to pay off the high interest credit cards and returning 8% on that as of now)

Liabilities:
Credit cards: (4230) (0% until May 2018)

Networth: (350)
Live in a HCOL area though so tomorrow I get to dish out ~2100 for rent, utilities, car insurance. So really about (3000).

I'm planning on throwing 1k each from December to finish paying off the card by April statement since I can take advantage of the 0% and in the meantime putting everything I can in savings which is about ~2k a month.
Title: Re: Saving to $10K
Post by: Morphy on September 30, 2017, 11:01:21 AM
Joining the party.

Sept 30, 2017

Assets: $2756.11
Liabilities: $2168.72 (2k of which is a student loan)
Net Worth: $587.39
Title: Re: Saving to $10K
Post by: DieHard_772 on September 30, 2017, 01:37:43 PM
Some really inspiring stuff in this thread! Might as well join in the fun myself.

Looking to get my net worth to 10K by the end of the year. The items below include only my accounts and does not include my wife's (she's in a lot better shape financially than I am.)

Current:

Bank Accounts: $6,186
HSA: $3,956
Roth 401K: $16,146
TOTAL ASSETS: $26,288

Student Loans: $(23,427)
Credit Cards: $(92)
TOTAL DEBT: $(23,519)

NET WORTH: $2,769

I started 2017 at $(8,578) so it has been a nice turnaround, overall. I haven't been as mustachian as I would have liked, and there were some pricey car repairs and some unexpected health expenses, but I am still happy with my progress.

All August bills are paid so I thought it would be a good time to provide an update. As of 8/31 my net worth is $ 4,964. That was a month-to-month change of $2,195, if I really put in the effort I think I can hit  $10K by the end of October. I already got rid of a few subscription services which saves me $20 a month so that's a start!

Well I did it! My net worth is current sitting at $11,511! I had a great month where I trimmed down some more expenses and I also received my company's yearly contribution to my 401k, which put me over the hump.

I'm off to the race to $100k thread. I hope to see all of you there soon!

Way to go!
Title: Re: Saving to $10K
Post by: Tass on September 30, 2017, 08:53:34 PM
July:

Emergency fund: $5,000.00
Roth IRA: 3267.05
Misc. cash: $562.51

"Student" debt: (2647.11)

Net worth: $6182.45

August:

Emergency fund: $5,004.29
Roth IRA: 3414.96
Misc. cash: $865.27

"Student" debt: (2397.11)

Net worth: $6888.41
Change: +$705.96

September:

Emergency + travel fund: $6340.05 (these got combined for interest reasons - $5k is for emergencies.)
Roth IRA: 3579.84
Misc. cash: $1038.66

"Student" debt: (1897.11)

Net worth: $9061.44
Change: +$2173.03

Updated because apparently they're now charging us rent on the first day of the relevant month instead of the last day of the previous? So I expect my NW to drop considerably on the first day of each month, but technically speaking that's what it is on the last day of September...

This feels like cheating.
Title: Re: Saving to $10K
Post by: haypug16 on October 01, 2017, 08:31:47 AM
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) +$4,800.19
7 month average Net Worth increase = $1,781.48

September ended up being a great month. No big surprises which helped me recover from August and having my extra part-time job helped. My CC bills are the lowest they've been in a long time. I'll be getting my severance paycheck next Friday the 6th and it's all going towards Debt. I think that will bring my net zero date up to the end of next year (from May 2019).

I start my new job tomorrow (the one that has been my part-time job for the past couple months) and I am sticking around at my other job (the one I'm getting the severance pay from) to do some part-time work. That will probably continue for the next 2-3 months at least. 

How was everyone else's month?

p.s. I just noticed that my Net-worth is up by $10K from when I first joined this thread! That's kind of amazing. :)
Title: Re: Saving to $10K
Post by: haypug16 on October 01, 2017, 08:38:46 AM
For the first time ever, our assets minus liabilities add up to over $10,000 :)

Onward and upward

Woohoo!!! Congrats!!!!
Title: Re: Saving to $10K
Post by: DieHard_772 on October 01, 2017, 02:15:46 PM
For the first time ever, our assets minus liabilities add up to over $10,000 :)

Onward and upward

Woohoo!!! Congrats!!!!

Thank you!
Title: Re: Saving to $10K
Post by: DieHard_772 on October 01, 2017, 02:18:36 PM
For the first time ever, our assets minus liabilities add up to over $10,000 :)

Onward and upward

Congratulations!

What's the procedure in these circumstances? Do we throw a virtual graduation party of some description?

Lol, we just celebrate and send good thoughts!
Title: Re: Saving to $10K
Post by: fluffmuffin on October 02, 2017, 10:32:07 AM
Loving all of the awesome energy this thread has had recently! Major congrats to all of the graduates and everybody hitting milestones :) I've thought about joining the 100k one too, but my progress would be so infinitesimally slow that I don't think it would even be worth it...

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

October is going to suck financially, so I'll be surprised if I don't have to cut my house contribution from my next paycheck. I have to rent a truck to help get my grandma's house cleared out; I need new running shoes; I had some car expenses in September; and I somehow need two fillings. I have sinking funds for the car and medical stuff, but I get really nervous if they dip below $800 each, so I would prioritize topping those back up over shiny new toy (aka down payment) money. (And of course I can't use the $1,600 sitting in the quasi-HSA I have through my job for the fillings, because America is stupid.) But I'm going to do my best to cut elsewhere so I don't need to!
Title: Re: Saving to $10K
Post by: LittleWanderer on October 02, 2017, 12:39:22 PM
I've thought about joining the 100k one too, but my progress would be so infinitesimally slow that I don't think it would even be worth it...

Once I graduate out of this thread, I'm going to be in the 100k thread f-o-r-e-v-e-r.  (Or it's going to feel that way.)  So you're not alone!  You can pull up a chair with me and settle in with never ending coffee for the long haul. 
Title: Re: Saving to $10K
Post by: fluffmuffin on October 02, 2017, 02:47:20 PM
Once I graduate out of this thread, I'm going to be in the 100k thread f-o-r-e-v-e-r.  (Or it's going to feel that way.)  So you're not alone!  You can pull up a chair with me and settle in with never ending coffee for the long haul. 

I think I'd get too frustrated by all of the people who make enough money to bank my entire monthly salary, haha. I also do a lot better with setting smaller goals where I can really see the movement. I track my NW because it's easy to pull from YNAB, but it's just going to take me such a long goddamned time to reach $100k that it's virtually meaningless for me to set that as an active goal. With that said, I'm almost halfway there ($47k!) and only cracked $40k/year in salary in 2015 (graduated in 2010)...the next $53k should come a whole lot faster :)

Oh, biking update: I ran my first-ever bike errand yesterday. It was just dropping off books at the library on quiet streets that I ride regularly, but I still did it! Getting to work by bike still seems unachievable anytime soon, but I'm trying to walk twice a week in the meantime.
Title: Re: Saving to $10K
Post by: Tass on October 02, 2017, 04:42:16 PM
I've thought about joining the 100k one too, but my progress would be so infinitesimally slow that I don't think it would even be worth it...

Once I graduate out of this thread, I'm going to be in the 100k thread f-o-r-e-v-e-r.  (Or it's going to feel that way.)  So you're not alone!  You can pull up a chair with me and settle in with never ending coffee for the long haul.

SAME

Oh, biking update: I ran my first-ever bike errand yesterday. It was just dropping off books at the library on quiet streets that I ride regularly, but I still did it! Getting to work by bike still seems unachievable anytime soon, but I'm trying to walk twice a week in the meantime.

I've missed 2-3 weeks as I was prepping for a big presentation I gave today (hurrah!) so I'll be going back to this. I'm trying for three times a week hopefully including slightly longer trips each weekend. Last one I did was to the beach (!!); next I'm going to try the library. (7-10 miles round trip.)
Title: Re: Saving to $10K
Post by: DieHard_772 on October 04, 2017, 10:23:51 AM
Once I graduate out of this thread, I'm going to be in the 100k thread f-o-r-e-v-e-r.  (Or it's going to feel that way.)  So you're not alone!  You can pull up a chair with me and settle in with never ending coffee for the long haul. 

I think I'd get too frustrated by all of the people who make enough money to bank my entire monthly salary, haha. I also do a lot better with setting smaller goals where I can really see the movement.

1000% agreement on that! 
Thank you for helping me keep the faith.  I admit, over the past few months, I was sometimes very frustrated not able to save as much as I wanted to.  This thread is awesome to remind me that I'm not the only one.

We are all doing our best and that is what matters. 

I can tell you this:  my wife and I are worth a lot more now than we were a year ago...
Title: Re: Saving to $10K
Post by: DieHard_772 on October 04, 2017, 10:26:09 AM
Also, on a side note, just yesterday my IRAs reached over $8000 for the first time  :)
Title: Re: Saving to $10K
Post by: Imma on October 04, 2017, 10:37:01 AM
Well done, DieHard!

Sometimes it feels like everyone on here is a millionaire. I make a good amount of money for my country / the amount of hours I work / my age, but I'm in a mortgage pay-off thread with people whose monthly extra mortgage payment is more than I make in a month. It's not very motivating. That's why I'm glad that we have a group of people with more modest incomes and we're all doing what we can to make progress.
Title: Re: Saving to $10K
Post by: DieHard_772 on October 04, 2017, 12:24:47 PM
Well done, DieHard!

Sometimes it feels like everyone on here is a millionaire. I make a good amount of money for my country / the amount of hours I work / my age, but I'm in a mortgage pay-off thread with people whose monthly extra mortgage payment is more than I make in a month. It's not very motivating. That's why I'm glad that we have a group of people with more modest incomes and we're all doing what we can to make progress.

I agree, I think we all are on this Forum because we like the spirit of MMM, and I certainly feel that passion for it.  So in my mind, I would love to be saving 60% of my income each month, and hopefully some day I will be doing that... in the meantime, I do the best I can with what I got.  And I'm grateful.
Title: Re: Saving to $10K
Post by: fluffmuffin on October 04, 2017, 02:54:32 PM
Well done, DieHard!

Sometimes it feels like everyone on here is a millionaire. I make a good amount of money for my country / the amount of hours I work / my age, but I'm in a mortgage pay-off thread with people whose monthly extra mortgage payment is more than I make in a month. It's not very motivating. That's why I'm glad that we have a group of people with more modest incomes and we're all doing what we can to make progress.

I agree, I think we all are on this Forum because we like the spirit of MMM, and I certainly feel that passion for it.  So in my mind, I would love to be saving 60% of my income each month, and hopefully some day I will be doing that... in the meantime, I do the best I can with what I got.  And I'm grateful.

Yesss, totally agree with all of this.
Title: Re: Saving to $10K
Post by: dreaming on October 04, 2017, 04:47:04 PM

I'm in the same boat as retirementdreaming.  While our 401k's have a decent balance we have a hard time increasing our savings.  Some months it's only the $25 I automatically transfer from checking to savings!  I am only including the savings account; the checking account fluctuates too much.

Goal - $10,000

3/24/17 - 2,168
5/31/17 - 2,218 - So far it has only been the $25 that is automatically transferred.  At least it's going in the right direction.
9/30/17 - 4,320 - Not very much in 4 months, but it should increase faster now that we don't have to pay for any kind of childcare.
Title: Re: Saving to $10K
Post by: Hargrove on October 04, 2017, 05:05:48 PM
I'm in the same boat as retirementdreaming.  While our 401k's have a decent balance we have a hard time increasing our savings.  Some months it's only the $25 I automatically transfer from checking to savings!  I am only including the savings account; the checking account fluctuates too much.

Why ever NOT include your 401k? You deferred taking the money to get a savings benefit and invest it.

To beat the motivation problem too, I kept a particular spreadsheet:

(Money deposited), (balance), difference between (balance) and (balance less (money deposited + previous balance)).

The last column was the most helpful - I could see how much my money started working without me, and I was only comparing my speed against myself. Theoretically, whatever you save in a year is going to generate 1/10th of that on its own thereafter. I like to imagine every year as building a tiny assistant. It took me into my third year to really see the money working, but once you have 1/3 or 1/2 of your ability to contribute coming from just returns, that's when it starts to feel like you really "built" something. In my experience, the second year was the most difficult.
Title: Re: Saving to $10K
Post by: Trifele on October 05, 2017, 04:30:19 AM
I'm in the same boat as retirementdreaming.  While our 401k's have a decent balance we have a hard time increasing our savings.  Some months it's only the $25 I automatically transfer from checking to savings!  I am only including the savings account; the checking account fluctuates too much.

Why ever NOT include your 401k? You deferred taking the money to get a savings benefit and invest it.

To beat the motivation problem too, I kept a particular spreadsheet:

(Money deposited), (balance), difference between (balance) and (balance less (money deposited + previous balance)).

The last column was the most helpful - I could see how much my money started working without me, and I was only comparing my speed against myself. Theoretically, whatever you save in a year is going to generate 1/10th of that on its own thereafter. I like to imagine every year as building a tiny assistant. It took me into my third year to really see the money working, but once you have 1/3 or 1/2 of your ability to contribute coming from just returns, that's when it starts to feel like you really "built" something. In my experience, the second year was the most difficult.

+1.  I'm old now, LOL, but looking back this is so true.  The hardest part mentally and financially is the first couple of years.  It took me years to really understand what Hargrove is saying -- that the money I saved is like tiny helpers -- but it's so true.   In those first couple of years (poor couple of academics, not earning much) it did feel like we weren't making much progress, and it was hard.  But just keep saving -- and you will get there.   One day down the road you will check your investment balances and be shocked at what your little helpers are churning out.

I had a little mantra I would say to myself during the hard years.  It comes from a language teacher I had in high school.  I tended to ask "why" questions about the grammar I was learning, which bogged me down.  She said to me "You're just starting.  For right now, don't think.  Just memorize."   So in our early years of mustachianism, I chanted to myself "Don't think.  Just save."  :)

Title: Re: Saving to $10K
Post by: DieHard_772 on October 05, 2017, 02:25:38 PM

I had a little mantra I would say to myself during the hard years.  It comes from a language teacher I had in high school.  I tended to ask "why" questions about the grammar I was learning, which bogged me down.  She said to me "You're just starting.  For right now, don't think.  Just memorize."   So in our early years of mustachianism, I chanted to myself "Don't think.  Just save."  :)

That is awesome.
Title: Re: Saving to $10K
Post by: lemonverbena on October 05, 2017, 10:37:21 PM
Hi, I'm just checking in to publicly state my intention to hit zero NW by the end of the year!

What number is everyone else hoping to close out the year on?
Title: Re: Saving to $10K
Post by: Moonwaves on October 05, 2017, 11:57:10 PM
As at 30 September 2017, here's how savings stand:
BoI savings a/c: 12.62
DiBa ETF: 294.72
CmzBank savings a/c: 100.00
Total:  407.34
Wow, for the first time since I started my ETF savings plan six months ago, this morning the value shows as more than I've put in (300.04). Not a lot more but it had started to feel like I'd made a really bad choice of fund (it's an MSCI world one). Over 300 means that it has gained not only enough to offset the fees but a bit more, too. I know it'll go down again at some stage but it's kind of cool to see. Makes it feel like maybe this whole stocks as method of saving isn't ridiculous after all.
Title: Re: Saving to $10K
Post by: runbikerun on October 06, 2017, 03:37:50 AM
Hi, I'm just checking in to publicly state my intention to hit zero NW by the end of the year!

What number is everyone else hoping to close out the year on?

I'm aiming to make it to a little over 6,800 by New Year's.
Title: Re: Saving to $10K
Post by: fluffmuffin on October 06, 2017, 04:30:18 AM
For purposes of this challenge, if I stay on track with my original goal, I’ll have ~$5,475 saved. Realistically I don’t know if that’s going to happen with some upcoming expenses. I’m trying my best to get to $5,475, but I won’t beat myself up as long as I manage to crack $5,000 for the house.
Title: Re: Saving to $10K
Post by: DieHard_772 on October 06, 2017, 08:52:26 AM
Hi, I'm just checking in to publicly state my intention to hit zero NW by the end of the year!

What number is everyone else hoping to close out the year on?

Well, it's hard to say for sure, but overall I'm intending a consistent NW over $10,000 in the next 3-6 months.  :)


Title: Re: Saving to $10K
Post by: Tass on October 06, 2017, 10:42:45 AM
What number is everyone else hoping to close out the year on?

I'm actually on track to hit 10k in November, fall back below it when rent is charged, and hit it again in December. I was planning to move up to the 100k thread and inch along there, but maybe I'll stick around until I get 10k in investments; anyone else?

I'd love to have 0 debt by the end of the year but I don't think that's going to be possible; projecting $772 left in December and gone by February. Then all my savings can go into savings!
Title: Re: Saving to $10K
Post by: Imma on October 06, 2017, 11:11:03 AM
My goal is €5000, but I think €4500 is probably a more realistic estimate. Even though we try not to spend too much during the holiday season, we're visiting a lot of relatives and travelling costs money. I normally buy one new dress every holiday season, but I might skip that this year. We have lots of occasions in December, so if I buy one new dress every year, I always have a collection of about 7 party dresses in total, and that will last me throughout the month.
Title: Re: Saving to $10K
Post by: haypug16 on October 06, 2017, 01:08:59 PM
Hi, I'm just checking in to publicly state my intention to hit zero NW by the end of the year!

What number is everyone else hoping to close out the year on?

My Year End goal is Net Worth of ($28,671.77) That'll be a nearly $22K increase from end of 2016. I'm at ($33K) today so just a few thousand more to go which is doable with about 3 months left in the year.
Title: Re: Saving to $10K
Post by: DieHard_772 on October 06, 2017, 02:53:44 PM
Hi, I'm just checking in to publicly state my intention to hit zero NW by the end of the year!

What number is everyone else hoping to close out the year on?

My Year End goal is Net Worth of ($28,671.77) That'll be a nearly $22K increase from end of 2017. I'm at ($32K) today so just a few thousand more to go which is doable with about 3 months left in the year.

Wooooowwww

Good job ;)
Title: Re: Saving to $10K
Post by: twocatsinaflat on October 06, 2017, 03:11:35 PM
Hopping on the band wagon late, but better than never.

October Savings: $453.64
Invested: $225.00
Total: $678.64
Title: Re: Saving to $10K
Post by: MrMustache on October 10, 2017, 01:22:16 PM
Assets:
Cash: 2600
401k: 1280 (stopped contributing since no match to pay off the high interest credit cards and returning 8% on that as of now)

Liabilities:
Credit cards: (4230) (0% until May 2018)

Networth: (350)
Live in a HCOL area though so tomorrow I get to dish out ~2100 for rent, utilities, car insurance. So really about (3000).

I'm planning on throwing 1k each from December to finish paying off the card by April statement since I can take advantage of the 0% and in the meantime putting everything I can in savings which is about ~2k a month.

Made forward progress although due to a trip to the dentist added 300 more to my card since my insurance sucks and already maxed out this year. Will be positive as of 10/13 (paid weekly), and will have the capability of paying off the cc's completely after 11/3. That's when I will start putting 1k down a month to chip away to finish the payments before 0% ends. Target date for 10k - 1/1/18

Assets:
401k:   1295
Cash:   2249


Liabilities:
Credit cards: (4529.03)

NW: (985.03)
Title: Re: Saving to $10K
Post by: fluffmuffin on October 10, 2017, 02:12:12 PM
Hopping on the band wagon late, but better than never.

October Savings: $453.64
Invested: $225.00
Total: $678.64

Welcome!
Title: Re: Saving to $10K
Post by: CaptJacks on October 12, 2017, 12:10:18 PM
Hey Mustachians.  I am so glad I stumbled on you guys.  I was hurting bad and I figured "that's it time to take care of this".  Found you and holy crap does it work.
I started out with nothing and behind on everything and figured I would try this.

Turned a negative savings balance around in a month by slashing spending.
Floating at $675 in savings right now.  $10K would be unreal to me.  So I am totally in the challenge.
Title: Re: Saving to $10K
Post by: Tass on October 12, 2017, 01:37:11 PM
Hey Mustachians.  I am so glad I stumbled on you guys.  I was hurting bad and I figured "that's it time to take care of this".  Found you and holy crap does it work.
I started out with nothing and behind on everything and figured I would try this.

Turned a negative savings balance around in a month by slashing spending.
Floating at $675 in savings right now.  $10K would be unreal to me.  So I am totally in the challenge.

You're well on your way, then! I started out slightly negative and hit zero four separate times before actually sitting down with a spreadsheet and working out my cashflow, and now I'm only a few months shy of 5 digits. You're closer than you think. :)
Title: Re: Saving to $10K
Post by: fluffmuffin on October 13, 2017, 08:28:02 AM
Hey Mustachians.  I am so glad I stumbled on you guys.  I was hurting bad and I figured "that's it time to take care of this".  Found you and holy crap does it work.
I started out with nothing and behind on everything and figured I would try this.

Turned a negative savings balance around in a month by slashing spending.
Floating at $675 in savings right now.  $10K would be unreal to me.  So I am totally in the challenge.

Welcome, Capt! It's amazing that you've been able to get from negative to $675 in a month. You can do this!
Title: Re: Saving to $10K
Post by: haypug16 on October 13, 2017, 09:04:28 AM
Welcome CaptJacks and nice job!


My mid-month update is awesome! I got my severance pay last week and got some travel reimbursements this week. I don't want to jinx it but I may be able to skip right over the neg $30Ks


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)
10/13/2017 = $(31,355.62) +$11,080.48

$10K of this went right to Credit Card debt. God I can't wait to be done with that. I got another $12K to go. My interest should go way down next month with all these payments I'm making, so that'll help.

According to my budget I should be able to knock out another $1500 with my end of the month check. Then I'll go back to my "normal" $2K a month increase.

I hope everyone else is having a good October.

Title: Re: Saving to $10K
Post by: TheDuder on October 13, 2017, 10:05:07 AM
Right now I am focused on saving $$ for a down payment for a house, so I will jump in the saving to $10K in liquid monies. Need more than that, but I'll take any victory I can get.

1 Jan 2017 - $4,890.59
13 Oct 2017 - $7,125.00
Title: Re: Saving to $10K
Post by: DieHard_772 on October 13, 2017, 12:04:50 PM
Hey Mustachians.  I am so glad I stumbled on you guys.  I was hurting bad and I figured "that's it time to take care of this".  Found you and holy crap does it work.
I started out with nothing and behind on everything and figured I would try this.

Turned a negative savings balance around in a month by slashing spending.
Floating at $675 in savings right now.  $10K would be unreal to me.  So I am totally in the challenge.

That's exactly how I felt!  And somehow, my wife are now closing in on $12,000 on our investments, keep it up, man, you will get there!
Title: Re: Saving to $10K
Post by: DieHard_772 on October 13, 2017, 12:11:59 PM
Hi Everyone, thanks for the positive feedback! 

Die Hard - well done!!  In a way it's both positive and also a shame that you won't be posting as much on this particular topic.  Hopefully all of us will get to catch up in the race to 100k! :D

I'm still around for a little bit ;)
Next goal is for our networth to consistently be over $10,000.  Inching up there.
Meanwhile, getting my personal investments over $10,000.
Title: Re: Saving to $10K
Post by: CaptJacks on October 15, 2017, 10:50:20 AM
Hey Mustachians.  I am so glad I stumbled on you guys.  I was hurting bad and I figured "that's it time to take care of this".  Found you and holy crap does it work.
I started out with nothing and behind on everything and figured I would try this.

Turned a negative savings balance around in a month by slashing spending.
Floating at $675 in savings right now.  $10K would be unreal to me.  So I am totally in the challenge.

Welcome, Capt! It's amazing that you've been able to get from negative to $675 in a month. You can do this!

Thank you.  Yeah I was so broke and thought "there is no way".  So I just started with $5 a day.  I just tried to see where I could save 5 bucks a day....turns out I was dropping $10 in the morning for breakfast and another $15 for lunch.  All I had to do was brown bag it for a month and boom.  $600+ in savings.
Title: Re: Saving to $10K
Post by: fluffmuffin on October 16, 2017, 06:49:20 AM
Thank you.  Yeah I was so broke and thought "there is no way".  So I just started with $5 a day.  I just tried to see where I could save 5 bucks a day....turns out I was dropping $10 in the morning for breakfast and another $15 for lunch.  All I had to do was brown bag it for a month and boom.  $600+ in savings.

Yes! Replacing regular meals out with brown bags is one of the easiest ways to save money. Way to be aware of those spending habits, and make a simple change that will pay you dividends down the road :)

Mid-month update:

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

It's pretty great to see a number over $4,000 on that budget line! I got a lot closer to $300 out of the last paycheck than I thought I would. The sinking fund for my car is lower than I'd like right now, but it's not as if I can't move that $213 back over if something catastrophic happens in the next 15 days. Weirdly, this was one of those magic paychecks where I budgeted out all of my necessities, and then still had what I would consider stupid money sitting in the "to be budgeted" line. Of course it all went straight into various sinking funds--hardly thrilling but it's SO worth it to not have to stress.
Title: Re: Saving to $10K
Post by: Manchester on October 16, 2017, 09:07:25 AM
Welcome CaptJacks and nice job!


My mid-month update is awesome! I got my severance pay last week and got some travel reimbursements this week. I don't want to jinx it but I may be able to skip right over the neg $30Ks


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)
10/13/2017 = $(31,355.62) +$11,080.48

$10K of this went right to Credit Card debt. God I can't wait to be done with that. I got another $12K to go. My interest should go way down next month with all these payments I'm making, so that'll help.

According to my budget I should be able to knock out another $1500 with my end of the month check. Then I'll go back to my "normal" $2K a month increase.

I hope everyone else is having a good October.

Wow what a month that is!  You're smashing it.

You've added over $20k to your net worth in what, 7 months?  That's more than a lot of people earn in a year!!!
Title: Re: Saving to $10K
Post by: haypug16 on October 16, 2017, 12:24:28 PM

Wow what a month that is!  You're smashing it.

You've added over $20k to your net worth in what, 7 months?  That's more than a lot of people earn in a year!!!

Thanks Manchester, this was a great month! Though the $11K here was due to extenuating circumstances I did set myself up to get that severance pay while working 1 1/2 jobs which didn't happen for most of my other co-workers. Plus the other $9K was all from watching my spending, determination, and the motivation I got from this group. I should "easily" hit my year end goal of ($28K) Next year I am thinking of increasing my monthly goal from $2k to $2.5K I just increased my 401K contribution to 10% (from 4%) Once I get my next paycheck and see how the increase changed my net income I'll see about upping it even more. I hope to be maxing it out by the end of the year.
Title: Re: Saving to $10K
Post by: DieHard_772 on October 16, 2017, 01:25:11 PM
I looked at my Personal Capital on Saturday morning and for the first time ever, my portfolio (including my IRAs and our HSA, not including my wife's SEP-Ira)
was over $10k...

$10,007 to be exact.

Boo yeah

Title: Re: Saving to $10K
Post by: fluffmuffin on October 16, 2017, 02:22:21 PM
I looked at my Personal Capital on Saturday morning and for the first time ever, my portfolio (including my IRAs and our HSA, not including my wife's SEP-Ira)
was over $10k...

$10,007 to be exact.

Boo yeah



YAY! Way to go!
Title: Re: Saving to $10K
Post by: Morphy on October 16, 2017, 04:20:26 PM
Joining the party.

Sept 30, 2017

Assets: $2756.11
Liabilities: $2168.72 (2k of which is a student loan)
Net Worth: $587.39

Oct 16, 2017

Assets: $3378.62
Liabilities: $2270.80
Net Worth: $1107.82

Nothing special to note.
Title: Re: Saving to $10K
Post by: Trifele on October 16, 2017, 05:29:16 PM

Oct 16, 2017

Assets: $3378.62
Liabilities: $2270.80
Net Worth: $1107.82

Nothing special to note.

I beg to differ Morphy. +$500 in two weeks?  Great job!   
Title: Re: Saving to $10K
Post by: Manchester on October 17, 2017, 03:14:50 AM
Joining the party.

Sept 30, 2017

Assets: $2756.11
Liabilities: $2168.72 (2k of which is a student loan)
Net Worth: $587.39

Oct 16, 2017

Assets: $3378.62
Liabilities: $2270.80
Net Worth: $1107.82

Nothing special to note.

Nothing special to note?!  You've nearly doubled your net worth in a couple of weeks... if that's nothing special I'm excited to see what you've got in store for the coming weeks/months.  ;)
Title: Re: Saving to $10K
Post by: SecondBreakfast on October 17, 2017, 05:14:11 AM
I think I'll get in on this whilst I still can! Discovered MMM around June/July and have reprioritized my life since. Used to spend a lot of money in the pub, now I homebrew. Used to bus to work and eat at the cafeteria, now I walk and bring my own lunch. Used to eat takeaways twice a week, now if I can't be bothered to cook I microwave a potato. I might never be totally FIRE but I'm building that beautiful FU money stash.

Assets:
£4143.61 in Vanguard
£3132.78 in cash account (equivalent of a couple of months expenses. Inefficient to leave it here but I don't know where else to put it that gets some return but can be drawn on in an emergency.

Liability:
About ~£1000 in student loans. Gone by this time next year.
Title: Re: Saving to $10K
Post by: DieHard_772 on October 17, 2017, 10:16:25 AM
I think I'll get in on this whilst I still can! Discovered MMM around June/July and have reprioritized my life since. Used to spend a lot of money in the pub, now I homebrew. Used to bus to work and eat at the cafeteria, now I walk and bring my own lunch. Used to eat takeaways twice a week, now if I can't be bothered to cook I microwave a potato. I might never be totally FIRE but I'm building that beautiful FU money stash.

Assets:
£4143.61 in Vanguard
£3132.78 in cash account (equivalent of a couple of months expenses. Inefficient to leave it here but I don't know where else to put it that gets some return but can be drawn on in an emergency.

Liability:
About ~£1000 in student loans. Gone by this time next year.

Welcome aboard
Title: Re: Saving to $10K
Post by: lemonverbena on October 18, 2017, 08:56:43 PM
Jan 2017:
SEP IRA: $225
Car loan: -$7825

Total: -$7600


Late Jan 2017:
SEP IRA: $225
tIRA: $1590
Car loan: -$7825

Total: -$6010


Mid Feb 2017:
SEP IRA: $226
tIRA: $1604
Car loan: -$5593

Total: -$3763

Mar 2017:
SEP IRA: $227
tIRA: $1630
Car loan: -$5593
Roof loan: -$8864

Total: -$12,600

Numbers going way in the wrong direction, but a roof replacement is so overdue and it feels good to be taking care of it. Should have half of it paid off by the end of the month.

Actually, make that by the end of June.

Mid-Apr 2017:
SEP IRA: $231
tIRA: $1624
Car loan: -$5120
Roof loan: -$8864
Emergency fund: $1000

Total: -$11,129

Late-Jun 2017:
SEP IRA: $245
tIRA: $1702
Car loan: -$4645
Roof loan: -$3864
Emergency fund: $1000

Total: -$5,562

Not even close to zero yet, but moving in the right direction again!

Mid-Sep:
SEP IRA: $581
tIRA: $1777
Car loan: $3931
Roof loan: $3649
Emergency fund: $0

Total: -$5,222

My number is basically the same as before, but life happened and now I need to replenish the emergency fund after a trip my spouse took to urgent care turned into an ambulance ride to the ER and a three day stay in the hospital. He now has an incurable autoimmune disease that will require lots of pharmaceuticals for the rest of his life. It has been an adjustment, for sure. So thankful he has good health insurance and we were able to deal with this with our meager emergency fund, but we also really wish we would have signed up for life insurance while he was still healthy!

Mid-Oct:
SEP IRA: $590
tIRA: $1809
Car loan: $3692
Roof loan: $3578
Emergency fund: $505
Hospital bill: $2024

Total: -$6390

Ah ha ha! Silly me. I thought we had paid off the last of the hospital bills. Nope. Another one rolled in. Always something.
Title: Re: Saving to $10K
Post by: Manchester on October 20, 2017, 02:51:24 AM
Jan 2017:
SEP IRA: $225
Car loan: -$7825

Total: -$7600


Late Jan 2017:
SEP IRA: $225
tIRA: $1590
Car loan: -$7825

Total: -$6010


Mid Feb 2017:
SEP IRA: $226
tIRA: $1604
Car loan: -$5593

Total: -$3763

Mar 2017:
SEP IRA: $227
tIRA: $1630
Car loan: -$5593
Roof loan: -$8864

Total: -$12,600

Numbers going way in the wrong direction, but a roof replacement is so overdue and it feels good to be taking care of it. Should have half of it paid off by the end of the month.

Actually, make that by the end of June.

Mid-Apr 2017:
SEP IRA: $231
tIRA: $1624
Car loan: -$5120
Roof loan: -$8864
Emergency fund: $1000

Total: -$11,129

Late-Jun 2017:
SEP IRA: $245
tIRA: $1702
Car loan: -$4645
Roof loan: -$3864
Emergency fund: $1000

Total: -$5,562

Not even close to zero yet, but moving in the right direction again!

Mid-Sep:
SEP IRA: $581
tIRA: $1777
Car loan: $3931
Roof loan: $3649
Emergency fund: $0

Total: -$5,222

My number is basically the same as before, but life happened and now I need to replenish the emergency fund after a trip my spouse took to urgent care turned into an ambulance ride to the ER and a three day stay in the hospital. He now has an incurable autoimmune disease that will require lots of pharmaceuticals for the rest of his life. It has been an adjustment, for sure. So thankful he has good health insurance and we were able to deal with this with our meager emergency fund, but we also really wish we would have signed up for life insurance while he was still healthy!

Mid-Oct:
SEP IRA: $590
tIRA: $1809
Car loan: $3692
Roof loan: $3578
Emergency fund: $505
Hospital bill: $2024

Total: -$6390

Ah ha ha! Silly me. I thought we had paid off the last of the hospital bills. Nope. Another one rolled in. Always something.

Keep going mate.  If you hadn't been trying over the past few months your finances would have been significantly worse!  You'll achieve your goal as long as you keep focussed.
Title: Re: Saving to $10K
Post by: Zamboni on October 20, 2017, 03:49:44 PM
This is a very inspiring thread. Keep up the good work, everyone!
Title: Re: Saving to $10K
Post by: DieHard_772 on October 20, 2017, 04:08:56 PM
This is a very inspiring thread. Keep up the good work, everyone!

Definitely is!
Title: Re: Saving to $10K
Post by: DieHard_772 on October 20, 2017, 04:42:52 PM
My wife and I are starting to kill it on savings and investing...

Our networth has grown by over $23,000 in the past two years!

Not too long ago that was about what I was making per year as a free-lance musician (no kidding).

In fact, in 2011 and 2012 both, I earned less than that (admittedly, this was because in 2011 I only
worked 11 months of the year due to a family trip that was paid for by a relative, and 2012 was my
first year married and living in a brand new area where I was starting my business from scratch).

The other cool thing is that our income didn't change all that much in the last few years...
we just got smarter and more deliberate about our money.

Thanks to everyone on this thread, which has certainly helped keep me motivated and positive
Title: Re: Saving to $10K
Post by: recklesslysober on October 20, 2017, 06:01:36 PM
Added almost $7,000 to my net worth this month with my regular salary, a raise, and some back pay.

Sitting at -$72,700 right now.
I'd like to be in the -$60ks next month or really close to it.
End of the year goal is -$64k.
Should hit the big ZERO in 2019 and hopefully be debt free by the end of that year. 
Title: Re: Saving to $10K
Post by: runbikerun on October 21, 2017, 08:23:24 AM
Up to 5,820. I was a little concerned that this month would be a challenge, as I bought my wife's birthday presents and am currently in Lisbon on a stag weekend, but I made it to payday without touching my savings accounts or putting anything on my credit card.
Title: Re: Saving to $10K
Post by: haypug16 on October 21, 2017, 12:56:29 PM
So not doing quite as well as I thought. Turns out I had not been adding in the monthly interest from my student loans (for a while)! Yikes. I am about $3,450 more in debt than I thought. :*( I'm still better off than I was at the beginning of the year so I can't be too upset. Just need to remind myself to keep checking ALL of my balances. I was so focused on my Credit Cards that I wasn't even thinking of my Student Loans, though I should since they are really high (~$60K) Anyway I start having to repay them this month so they'll be going down.
Title: Re: Saving to $10K
Post by: DieHard_772 on October 22, 2017, 12:23:48 PM
So not doing quite as well as I thought. Turns out I had not been adding in the monthly interest from my student loans (for a while)! Yikes. I am about $3,450 more in debt than I thought. :*( I'm still better off than I was at the beginning of the year so I can't be too upset. Just need to remind myself to keep checking ALL of my balances. I was so focused on my Credit Cards that I wasn't even thinking of my Student Loans, though I should since they are really high (~$60K) Anyway I start having to repay them this month so they'll be going down.

Good job haypug, you are paying attention and that matters probably most.  Keep up the good work, you are on your way
Title: Re: Saving to $10K
Post by: haypug16 on October 22, 2017, 12:48:25 PM
Thanks DieHard. I'll be so nice when the only interest I'm looking at is interest that I'm earning! :)
Title: Re: Saving to $10K
Post by: DieHard_772 on October 22, 2017, 06:07:57 PM
Thanks DieHard. I'll be so nice when the only interest I'm looking at is interest that I'm earning! :)

Yeeeeeeeees,  well said
Title: Re: Saving to $10K
Post by: Manchester on October 23, 2017, 03:20:18 AM

22/09/2017: 
Current account - £927.07
Emergency fund - £1.58
Investments - £0
Credit Card debt - -£1,288.72
Payments Due this month - -£1022

Total - -£1,382.07


Strange month for me financially.  Wasn't able to get rid of as much CC debt as I'd have liked, but found out I've been paying into a work place pension for the past two years (very negligible amounts) which has bumped up my 'total'.  Kind of cheating, but I'll take it!

 23/10/2017:

Current Account - £113.95
Emergency fund - £1.58
Investments - £527.21
Credit Card - -£822.27

TOTAL - -£179.53

So it's an increase of £1,202.54  (which is somewhat inflated by my pension discovery).  Payday comes on the 27th...  I'm meant to be getting a tax break + a refund from HMRC, I've also done around £400 of overtime at work so I'm excited to see what I can do...  Can't see any reason why I shouldn't have a positive net worth this time next month.

Title: Re: Saving to $10K
Post by: fluffmuffin on October 23, 2017, 09:29:02 AM
Strange month for me financially.  Wasn't able to get rid of as much CC debt as I'd have liked, but found out I've been paying into a work place pension for the past two years (very negligible amounts) which has bumped up my 'total'.  Kind of cheating, but I'll take it!

Uhm I don't think it's cheating that past you automated some savings! It looks like you were able to knock out a big chunk of debt in the last month, too, which is really fantastic.  You are SO CLOSE to that positive net worth!
Title: Re: Saving to $10K
Post by: CollegeRaven on October 24, 2017, 04:36:38 AM
My stats for April 2017:

Current Debt (CC mostly)= $400
Savings (All)                   = $3400
Net Worth                      =  $3000

6 months later

Current Debt (CC mostly)= $0 (Yay!)
Savings (All)                   = $3620
Net Worth                      =  $3620

I predicted that I would reach ~5000 in savings so I really need to cut back stupid expenses (Alcohol. Cigarettes...)

Hopefully, that allows me to reach $6000 by 2018.

Next update in another 6 months!
Title: Re: Saving to $10K
Post by: JanetJackson on October 24, 2017, 06:03:50 AM
UPDATE!
I bought a car... and paid $1000 toward the principle of my student loans.... AND my dog has a huge surgery coming up (about $700-1k), BUT I also continued my "say yes" (to anything moral that will make me extra money) experiment to make extra money, and have been working my butt off doing all kinds of odd jobs and picking up extra hours at work.

Assets:
Emergency fund + General savings = 3250
Vehicle Emergency Fund = 1271
Pet Emergency Fund = 730
Car Insurance collection (paid from yearly) = 135 (just paid this in July)
Camper/Tiny home Savings = 5700
Estimated Taxes Set Aside = 140
Consistent Checking Surplus for immediate emergencies = 1236
IRA = 645
Vanguard = 1100.00

TOTAL: 14207   

Liabilities
Student Loan #1 = 11,000 at 1.9%
Student Loan #2 = 3,200 at 2.3%
TOTAL: 14200


Net worth: $7 - WHOA, I'm out of the negative (for now....)!!!

Any tips or comments?  Should I trim down somewhere to pay more of the loans off?  Lower my Emergency savings to 2k?  The "house" money will hopefully be going to purchase an RV soon- which will be my primary living space.  If I do not end up doing that, I will trim from there to pay my rent at the next place I rent.  I'm looking into moving options right now, overall. 
I do have to pay cash for my upcoming semester (about 1k) as well as the other upcoming expenses I mentioned (about 2k total before the end of the year).


OK UPDATE TIME!  I made a Deal/Challenge with myself for August to say "YES" to any offer to make extra money that A. Fit into my Schedule, and B. Paid enough to be at least reasonable (as in, not crap like driving 40 miles to help a friend clean her garage for $9/hr)... and I'm hoping it'll pay off! 
Not everything I said "Yes" to has paid out yet, but should by the end of the month.... so off we go with an update!

Assets:
Emergency fund + General savings = 5695
Vehicle Emergency Fund = 1184
Pet Emergency Fund = 589
Car Insurance collection (paid from yearly) = 113 (just paid this in July)
Camper/Tiny home Savings = 2360
Consistent Checking Surplus for immediate emergencies = 900
IRA = 22.06
Vanguard = 1100.00

TOTAL: 11,963.06   

Liabilities
Student Loan #1 = 11,000 at 1.9%
Student Loan #2 = 4,200 at 2.3%
TOTAL: 15,200.00


Net worth: -3236.94

*I get paid tomorrow via Job #1, so $200 will go to my E. Savings, and ~$550 will go to checking and then be dispersed after bills come out the 1-5th of the month.... Takes me to ~12,713.06 and Net Worth -2,486.94

I am at about $775 additional via side-hustle only from my "Say Yes" experiment, minus the cost of all of the extra coffee/energy drinks that have been necessary to sustain the experiment, and the extra gas money... (Maybe $25 extra in caffeine and $50 extra gas..?).  Two more dog walks (tomorrow) and one deep cleaning of a kitchen (Thursday) to go for this month... PHEW!

I may try to do this every other, or every third month... it's not sustainable every single month though... but very glad I did it to test my capacity.  I also worked extra hours at Job #2 (about 28 hours @~23/hr tutoring) this month- the majority of which haven't been invoiced yet.... ONWARD AND UPWARD

** I have not yet re-joined a new gym.  While the weather is good I have been taking part in the November Project in my area, taking long walks, going to Derby practices as usual (but with a little extra oomph knowing I am also now using it as "fitness") and weightlifting on my front stoop... I don't love the set up- I love Crossfit, but this'll do for now.

END

Sooooooo...
Since I made my 6mo car insurance payment, I am not showing as much progress, even though the other accounts went up. 
I am still enrolled and in classes, so I have not made any student loan payments, so those remain the same. 
I did adjust the income of my day job to split $200/mo from each check to go directly into savings- that starts this payday (Friday) so I am hoping it works out and I can survive within my budget (this tightens things up a bit more, where it's already pretty pretty tight).  I live only on the income from the day job and save everything from Job #2 and all side hustles (pet sitting, house cleaning, etc). 

I also quit my gym last week (sad face) so I won't have those payments for a few months until I find another gym home.  I am incomplete and miserable without a gym, and it's something I have to give myself and my health, but the atmosphere/situation at my gym was not improving the quality of my life in relation to the expense- so it was time to go!  Hopefully I can find something just a pinch cheaper, but fulfilling. 
I also pulled out $1100 from General Savings this month to open my Vanguard account!! 
I guess I'm not "technically" in the hole more, but it sure feels like it right now with this minimal progress.
I do have three $200-$400 pet-sitting gigs upcoming on my books, so that'll help!

Keep chugging along!  Choo Choo!

Assets:
Emergency fund + General savings = 5274
Vehicle Emergency Fund = 1183
Pet Emergency Fund = 539
Car Insurance collection (paid from yearly) = 101 (just paid this)
Camper/Tiny home Savings = 1703
Consistent Checking Surplus for immediate emergencies = 200
IRA = 22.06
Vanguard = 1100.00 :/

TOTAL: 8939.06

*It also makes me feel better to list these assets:
Car value: ~5000
Value if I sold literally everything else I own: maybe 600?



Liabilities
Student Loan #1 = 11,000 at 1.9%
Student Loan #2 = 5,200 at 2.3%
TOTAL: 16200


Net worth: -7260.94

I'm jumping in!
Assets:
Emergency fund + General savings = 4716
Vehicle Emergency Fund = 1183
Pet Emergency Fund = 523
Car Insurance collection (paid from yearly) = 297
Camper/Tiny home Savings = 1627
Consistent Checking Surplus for immediate emergencies = 200
IRA = 4.10 :/

TOTAL: 8550.10

*It also makes me feel better to list these assets:
Car value: ~5000
Value if I sold literally everything else I own: maybe 600?



Liabilities
Student Loan #1 = 11,000 at 1.9%
Student Loan #2 = 5,200 at 2.3%
TOTAL: 16200


Net worth: -7649.90
(gosh, almost makes me want to sell my car and walk the 30 miles to work....)
Title: Re: Saving to $10K
Post by: LittleWanderer on October 24, 2017, 09:04:05 AM
Woo hoo, positive net worth!!!  Congrats, JanetJackson!  I wouldn't be in a hurry to pay off those student loans at those interest rates. 
Title: Re: Saving to $10K
Post by: LittleWanderer on October 24, 2017, 09:11:14 AM
I went and got my tooth pulled yesterday.  I'm completely and utterly lost on WTF my insurance even does for me.  They needed both my health and dental insurance info.  I paid $200 for the yank + prescriptions.  I have a check up appointment in a few weeks, then an appt to get the implant in February, then I have to schedule another appt with my dentist for the crown.  Jeez. 

So, anyway, I am keeping track of how much this thing costs as someone with decent insurance.  Total tooth money spent to date: $200.  (FYI - I had hip surgery a few years ago and it cost me almost nothing...just a few co-pays.  Riddle me that.)

Considering how spaced out all this tooth drama is, I should still hit my $10K goal at the end of November.  (Fingers crossed.)  Will update with more concrete numbers at month end!
Title: Re: Saving to $10K
Post by: JanetJackson on October 24, 2017, 09:43:59 AM
I went and got my tooth pulled yesterday.  I'm completely and utterly lost on WTF my insurance even does for me.  They needed both my health and dental insurance info.  I paid $200 for the yank + prescriptions.  I have a check up appointment in a few weeks, then an appt to get the implant in February, then I have to schedule another appt with my dentist for the crown.  Jeez. 

So, anyway, I am keeping track of how much this thing costs as someone with decent insurance.  Total tooth money spent to date: $200.  (FYI - I had hip surgery a few years ago and it cost me almost nothing...just a few co-pays.  Riddle me that.)

Considering how spaced out all this tooth drama is, I should still hit my $10K goal at the end of November.  (Fingers crossed.)  Will update with more concrete numbers at month end!

OH my gosh, I am teetering on some dental work myself (about 1k worth of weird/hard to fill cavities, 3 ones that definitely need filled and 3 that are "ehhhh") and am trying to figure out what to do.  I bought a groupon to go see the dentist for a cleaning.... First time in 16 years, since I was 18...  So I should have known.  I guess I should have mentioned that in my "coming up" costs.  Good luck!
Title: Re: Saving to $10K
Post by: Tass on October 25, 2017, 08:23:28 PM
This is only sort of related to the forum topic, but I'm following up on earlier posts: as of today I can bike the round trip to the grocery store without breaks! (Previously I had been stopping at the top of the hill about halfway there and then walking up the hill the store is on.) I had kind of expected to do poorly because I have been ill recently and haven't practiced much, but whether I'm getting better than I thought, or the swimming I also recently took up is helping, or it was just that I adjusted my seat height today, it's really exciting to see progress.

How do other new biking efforts fare? Fluffmuffin?
Title: Re: Saving to $10K
Post by: Manchester on October 26, 2017, 05:09:01 AM
UPDATE!
I bought a car... and paid $1000 toward the principle of my student loans.... AND my dog has a huge surgery coming up (about $700-1k), BUT I also continued my "say yes" (to anything moral that will make me extra money) experiment to make extra money, and have been working my butt off doing all kinds of odd jobs and picking up extra hours at work.

Assets:
Emergency fund + General savings = 3250
Vehicle Emergency Fund = 1271
Pet Emergency Fund = 730
Car Insurance collection (paid from yearly) = 135 (just paid this in July)
Camper/Tiny home Savings = 5700
Estimated Taxes Set Aside = 140
Consistent Checking Surplus for immediate emergencies = 1236
IRA = 645
Vanguard = 1100.00

TOTAL: 14207   

Liabilities
Student Loan #1 = 11,000 at 1.9%
Student Loan #2 = 3,200 at 2.3%
TOTAL: 14200


Net worth: $7 - WHOA, I'm out of the negative (for now....)!!!

Any tips or comments?  Should I trim down somewhere to pay more of the loans off?  Lower my Emergency savings to 2k?  The "house" money will hopefully be going to purchase an RV soon- which will be my primary living space.  If I do not end up doing that, I will trim from there to pay my rent at the next place I rent.  I'm looking into moving options right now, overall. 
I do have to pay cash for my upcoming semester (about 1k) as well as the other upcoming expenses I mentioned (about 2k total before the end of the year).



Thought I'd give you my advice.  Bare in mind I'm no expert!!

First things first, your student loans are dirt cheap.  Leave them as they are for now.

Do you have a 401k or anything similar where you work?

It seems to me as though you have loads of savings/emergency funds.  What type of accounts are these in?  Are you earning any returns at all?  Do you need all these various funds or could you put them all together in one emergency fund?  My plan for my emergency fund is 3 months costs (But I'm in England where we have the NHS and a brilliant Welfare system which means there is less risk to losing everything).

You have $5,700 in savings for a camper home.  Could you not invest this and enable it to grow more quickly? If that was in Vanguard you'd probably be earning another $400 per year whilst it sits there.


My point is, in your $14,207 worth of assets, it looks to me like only $1,745 is actually working for you.  Do you really need $12k+ for emergencies?

I'd love to have 14k in assets right now, keep up the good work!
Title: Re: Saving to $10K
Post by: Moonwaves on October 26, 2017, 06:10:22 AM
So, some bills finally got paid so I actually feel like I'm almost making progress. Still waiting for one very big bill to be paid and once that comes in I will pay back my sister and then just need to concentrate on saving to pay the tax man when that bill comes in.

And apparently I skipped August. Have been very, very busy with side gig AND moving (far quicker than expected) to working full-time again (up from 30 to 40hrs/wk). I am pretty annoyed though that it happened so fast accounting has apparently not caught up yet so I didn't get paid for the additional 10 hrs I worked the last two weeks. It'll get paid out at the end of October. Not a huge amount but annoying to not get it. And almost all of the side-gig income is still outstanding. Finishing up another huge job this weekend and next week and once I've issued that invoice, I'll start chasing the others. I may actually be able to pay my sister back and have enough to put aside to cover my tax bill and still be making progress on saving.

As at 30 September 2017, here's how savings stand:
BoI savings a/c: 12.62
DiBa ETF: 294.72
CmzBank savings a/c: 100.00
Total:  407.34

As at 26 October 2017, here's how savings stand:
BoI savings a/c: 18.87
DiBa ETF: 349.91
CmzBank savings a/c: 200.00
Total:  568.78
Title: Re: Saving to $10K
Post by: JanetJackson on October 26, 2017, 06:12:19 AM
UPDATE!
I bought a car... and paid $1000 toward the principle of my student loans.... AND my dog has a huge surgery coming up (about $700-1k), BUT I also continued my "say yes" (to anything moral that will make me extra money) experiment to make extra money, and have been working my butt off doing all kinds of odd jobs and picking up extra hours at work.

Assets:
Emergency fund + General savings = 3250
Vehicle Emergency Fund = 1271
Pet Emergency Fund = 730
Car Insurance collection (paid from yearly) = 135 (just paid this in July)
Camper/Tiny home Savings = 5700
Estimated Taxes Set Aside = 140
Consistent Checking Surplus for immediate emergencies = 1236
IRA = 645
Vanguard = 1100.00

TOTAL: 14207   

Liabilities
Student Loan #1 = 11,000 at 1.9%
Student Loan #2 = 3,200 at 2.3%
TOTAL: 14200


Net worth: $7 - WHOA, I'm out of the negative (for now....)!!!

Any tips or comments?  Should I trim down somewhere to pay more of the loans off?  Lower my Emergency savings to 2k?  The "house" money will hopefully be going to purchase an RV soon- which will be my primary living space.  If I do not end up doing that, I will trim from there to pay my rent at the next place I rent.  I'm looking into moving options right now, overall. 
I do have to pay cash for my upcoming semester (about 1k) as well as the other upcoming expenses I mentioned (about 2k total before the end of the year).



Thought I'd give you my advice.  Bare in mind I'm no expert!!

First things first, your student loans are dirt cheap.  Leave them as they are for now.

Do you have a 401k or anything similar where you work?

It seems to me as though you have loads of savings/emergency funds.  What type of accounts are these in?  Are you earning any returns at all?  Do you need all these various funds or could you put them all together in one emergency fund?  My plan for my emergency fund is 3 months costs (But I'm in England where we have the NHS and a brilliant Welfare system which means there is less risk to losing everything).

You have $5,700 in savings for a camper home.  Could you not invest this and enable it to grow more quickly? If that was in Vanguard you'd probably be earning another $400 per year whilst it sits there.


My point is, in your $14,207 worth of assets, it looks to me like only $1,745 is actually working for you.  Do you really need $12k+ for emergencies?

I'd love to have 14k in assets right now, keep up the good work!


Hey Manchester- I appreciate the advice!
For me, I've found that the assigned savings accounts help.  If I just have one lump "emergency savings" I'm apt not to touch it.  3k covers my basic living for three months.  Most of this is in a regular savings account earning about 1%.  I do have a vanguard account.  I must admit, my eyes glaze over any time I try to deeply understand index funds, all of the different vanguard accounts, withdraw strategies, etc.  I'm kind of a basic homesteading type-bootstrapping my savings- person... who is very open to learning smarter ways.
If I put that house savings into vanguard, I could always take it out in 3-5 years when I am ready to purchase a home, right?  I am saving to about 30k to purchase a RVIA Certified Tiny Home on wheels from a builder outright. 

Two facts about me:


Bearing all of that in mind- do you think I'd do best to pull the car emergency savings and the house savings and invest them elsewhere (as in, Vanguard)?  And just deal with my nervousness about it? 
I could LIKELY keep the Pet and the Emergency funds (as well as the estimated taxes and the car insurance - I do like keeping them separated in this way) how they are, since those are the ones I'd need to access immediately in an actual emergency... but I have two credit cards that I keep zero balance on that have 3k limits, so you're probably right... I don't need 14k at my fingertips.
I have been working on keeping less in my checking account and getting it closer to exactly what I need in there (saving/investing the rest).

Any advice is great and I'm ready to listen!  Thanks!
Title: Re: Saving to $10K
Post by: fluffmuffin on October 26, 2017, 07:39:59 AM
This is only sort of related to the forum topic, but I'm following up on earlier posts: as of today I can bike the round trip to the grocery store without breaks! (Previously I had been stopping at the top of the hill about halfway there and then walking up the hill the store is on.) I had kind of expected to do poorly because I have been ill recently and haven't practiced much, but whether I'm getting better than I thought, or the swimming I also recently took up is helping, or it was just that I adjusted my seat height today, it's really exciting to see progress.

How do other new biking efforts fare? Fluffmuffin?

Way to go Tass! I'm sure more practice + additional conditioning through swimming is helping :) I'm still in the same place I was last month...struggling to find time to practice and feeling like I've plateaued. BUT my race is in 2.5 weeks, so my life will open up a lot more after that. With that said, I'm going to (gulp) try biking to work Monday morning. There's almost no traffic, I have a bike lane virtually the whole way, and I can ride on the sidewalk in a few tight places if I really need to. I'm wayyy too scared to ride in the afternoon traffic, so I'm going to either walk the bike home, or leave it locked and pick it up on Tuesday or Wednesday when I have to drive anyway. It's a 35 minute walk and should be ~15 minutes on the bike, so even if I only ride one way that will take my total non-car commute time down from an hour and 10 minutes to 45 minutes.

But in other environmentally-conscious Mustachian news, I've been consistently walking 1-2 days each week. After the race is over I'm going to try to convince my Wednesday night running group to switch to Tuesday or Thursday, so I can walk/bike MWF.
Title: Re: Saving to $10K
Post by: Tass on October 26, 2017, 09:17:38 AM
JanetJackson - I feel you on the risk aversion. The way I got past it was to remind myself that there IS no risk-free savings. Cash gets lost or stolen, banks fold, either of those is eaten slowly by inflation. Also, the stock market is much less risky over a very long period of time; I don't care if the money I put in it drops right now, because I don't need it for years. As MMM says, a stock market fall just means you can buy shares for cheap.

That said, if you're very risk averse I don't know that I would put short-term savings in stocks for that reason.

Fluffmuffin - Sounds like a great plan! I'm thinking of starting biking to work and back on Saturdays just for the practice.
Title: Re: Saving to $10K
Post by: LittleWanderer on October 26, 2017, 09:56:53 AM
This is only sort of related to the forum topic, but I'm following up on earlier posts: as of today I can bike the round trip to the grocery store without breaks! (Previously I had been stopping at the top of the hill about halfway there and then walking up the hill the store is on.) I had kind of expected to do poorly because I have been ill recently and haven't practiced much, but whether I'm getting better than I thought, or the swimming I also recently took up is helping, or it was just that I adjusted my seat height today, it's really exciting to see progress.

How do other new biking efforts fare? Fluffmuffin?

I like hearing about the biking.  Certainly more exciting than hearing about my teeth!

Your strategy of practicing biking to work on a Saturday is exactly what I would suggest to fluffmuffin.  And keep remembering that riding in traffic gets easier the more you get used to it.  Practice might seem silly, but it works.
Title: Re: Saving to $10K
Post by: Manchester on October 26, 2017, 10:53:29 AM
UPDATE!
I bought a car... and paid $1000 toward the principle of my student loans.... AND my dog has a huge surgery coming up (about $700-1k), BUT I also continued my "say yes" (to anything moral that will make me extra money) experiment to make extra money, and have been working my butt off doing all kinds of odd jobs and picking up extra hours at work.

Assets:
Emergency fund + General savings = 3250
Vehicle Emergency Fund = 1271
Pet Emergency Fund = 730
Car Insurance collection (paid from yearly) = 135 (just paid this in July)
Camper/Tiny home Savings = 5700
Estimated Taxes Set Aside = 140
Consistent Checking Surplus for immediate emergencies = 1236
IRA = 645
Vanguard = 1100.00

TOTAL: 14207   

Liabilities
Student Loan #1 = 11,000 at 1.9%
Student Loan #2 = 3,200 at 2.3%
TOTAL: 14200


Net worth: $7 - WHOA, I'm out of the negative (for now....)!!!

Any tips or comments?  Should I trim down somewhere to pay more of the loans off?  Lower my Emergency savings to 2k?  The "house" money will hopefully be going to purchase an RV soon- which will be my primary living space.  If I do not end up doing that, I will trim from there to pay my rent at the next place I rent.  I'm looking into moving options right now, overall. 
I do have to pay cash for my upcoming semester (about 1k) as well as the other upcoming expenses I mentioned (about 2k total before the end of the year).



Thought I'd give you my advice.  Bare in mind I'm no expert!!

First things first, your student loans are dirt cheap.  Leave them as they are for now.

Do you have a 401k or anything similar where you work?

It seems to me as though you have loads of savings/emergency funds.  What type of accounts are these in?  Are you earning any returns at all?  Do you need all these various funds or could you put them all together in one emergency fund?  My plan for my emergency fund is 3 months costs (But I'm in England where we have the NHS and a brilliant Welfare system which means there is less risk to losing everything).

You have $5,700 in savings for a camper home.  Could you not invest this and enable it to grow more quickly? If that was in Vanguard you'd probably be earning another $400 per year whilst it sits there.


My point is, in your $14,207 worth of assets, it looks to me like only $1,745 is actually working for you.  Do you really need $12k+ for emergencies?

I'd love to have 14k in assets right now, keep up the good work!


Hey Manchester- I appreciate the advice!
For me, I've found that the assigned savings accounts help.  If I just have one lump "emergency savings" I'm apt not to touch it.  3k covers my basic living for three months.  Most of this is in a regular savings account earning about 1%.  I do have a vanguard account.  I must admit, my eyes glaze over any time I try to deeply understand index funds, all of the different vanguard accounts, withdraw strategies, etc.  I'm kind of a basic homesteading type-bootstrapping my savings- person... who is very open to learning smarter ways.
If I put that house savings into vanguard, I could always take it out in 3-5 years when I am ready to purchase a home, right?  I am saving to about 30k to purchase a RVIA Certified Tiny Home on wheels from a builder outright. 

Two facts about me:

  • I am so risk averse it isn't even funny... the idea that I *could* lose money in index funds is terrifying to me... it actually turns my stomach every time I send money to Vanguard.
  • I am morally very debt averse and want those student loans off of my shoulders AS SOON AS POSSIBLE.  I think about them when I lay in bed at night.  I know that sounds like a euphemism, but I actually do that.  Ha

Bearing all of that in mind- do you think I'd do best to pull the car emergency savings and the house savings and invest them elsewhere (as in, Vanguard)?  And just deal with my nervousness about it? 
I could LIKELY keep the Pet and the Emergency funds (as well as the estimated taxes and the car insurance - I do like keeping them separated in this way) how they are, since those are the ones I'd need to access immediately in an actual emergency... but I have two credit cards that I keep zero balance on that have 3k limits, so you're probably right... I don't need 14k at my fingertips.
I have been working on keeping less in my checking account and getting it closer to exactly what I need in there (saving/investing the rest).

Any advice is great and I'm ready to listen!  Thanks!

I suppose the question is how bad do you want to FIRE and how much are you willing to risk to get there?  I hope this doesn't sound rude/blunt, but your fear of losing money is costing you money. 


Stocks and shares ARE confusing!  Especially to people like myself who're just starting out.  That why there are so many people making serious money to advise people on the subject.  Have you read J L Colin's stock series?  It's bloody brilliant if you haven't and was written as instructions for his daughter to teach her about investing.

Here's what I'd do if I were in your shoes...

Emergency fund + General savings = 3250 Remove 250
Vehicle Emergency Fund = 1271 Close this account, add money to your investment 'pot'
Pet Emergency Fund = 730 Add 250 you removed from Emergency fund
Car Insurance collection (paid from yearly) = 135 (just paid this in July) Leave as is
Camper/Tiny home Savings = 5700 Close this account and add money into investment pot
Estimated Taxes Set Aside = 140 Leave as is
Consistent Checking Surplus for immediate emergencies = 1236 Remove 736 which should be put in investment pot


That leaves you with the following:

Savings/Emergency $4,755
Available credit to hand through cc's $3,000
Money available to invest $7,707

That leaves you with the best part of 8 months living time if SHTF.  Any emergency that costs more than that is going to be such a nightmare that I doubt any money at your disposal is going to help.  You don't need more than that! 

You can then invest nearly $8k how you see fit - here is where your risk tolerance comes into the equation.  You need to decide your asset allocation.  You could invest 10% of that in high risk funds, 50% in a safer, medium to low risk, index funds and allocate the last 40% into bonds (these are much lower risk - but also lower returns). 

Debt worries aren't nice, but there are people in much worse positions than yourself.  Your student loans are so cheap it wouldn't make sense to pay them off in a hurry.  Every $10 you owe on your more expensive loan is costing you 10 cents.  Every $10 you invest in Vanguard will most likely earn you over 70 cents.  The more money you have, the less you will worry about money, right?


If your employer offers a 401k contribution you HAVE to take them up on it.  It's basically free money - what other investment would earn you !00% returns year on year?
 

Title: Re: Saving to $10K
Post by: Tass on October 26, 2017, 11:17:35 AM
P.S. On feeling overwhelmed by starting out in investing: Fidelity has Target Year Index Funds. It's an index fund whose asset allocation changes automatically as you get closer to your retirement year (i.e. it owns a stocks index fund and a bonds index fund and balances its investment in each). They're very slightly more expensive than bare bones index funds where you have to do the asset allocation yourself, but much cheaper than the general Target Year funds which are managed. (Make sure it has "index" in the fund name! They will try to sell you on the managed funds instead.)

I'm pretty sure Vanguard offers something similar, and either company will charge you extra for buying the other company's fund through them, so stay in-house - if you already have a Vanguard account, use Vanguard. But having the automatic asset allocation also helped soothe my nerves - one less thing for me to somehow mess up.

(I do use a target year as though I will retire at 65; this ensures it will be set up for more aggressive growth for longer, and I can move it into a different target year fund whenever I actually want it to start being more conservative.)
Title: Re: Saving to $10K
Post by: cazio on October 26, 2017, 11:44:47 AM
A great month for me - my new savings tactic for my spending money earned me an extra $245, and I worked 12 hours of time and a half overtime and 12 hours of double time for an extra $300+

SO close to meeting my EF goal of $13,500

Current Stats
EF: $12,041 (+1,974)
Student Loans: -$11,361 (+116)
Net Worth:  $2,180  (+2,091)

EF: $10,067
Student Loans: -$11,478
Net Worth:  $89
Title: Re: Saving to $10K
Post by: JanetJackson on October 26, 2017, 11:47:52 AM
UPDATE!
I bought a car... and paid $1000 toward the principle of my student loans.... AND my dog has a huge surgery coming up (about $700-1k), BUT I also continued my "say yes" (to anything moral that will make me extra money) experiment to make extra money, and have been working my butt off doing all kinds of odd jobs and picking up extra hours at work.

Assets:
Emergency fund + General savings = 3250
Vehicle Emergency Fund = 1271
Pet Emergency Fund = 730
Car Insurance collection (paid from yearly) = 135 (just paid this in July)
Camper/Tiny home Savings = 5700
Estimated Taxes Set Aside = 140
Consistent Checking Surplus for immediate emergencies = 1236
IRA = 645
Vanguard = 1100.00

TOTAL: 14207   

Liabilities
Student Loan #1 = 11,000 at 1.9%
Student Loan #2 = 3,200 at 2.3%
TOTAL: 14200


Net worth: $7 - WHOA, I'm out of the negative (for now....)!!!

Any tips or comments?  Should I trim down somewhere to pay more of the loans off?  Lower my Emergency savings to 2k?  The "house" money will hopefully be going to purchase an RV soon- which will be my primary living space.  If I do not end up doing that, I will trim from there to pay my rent at the next place I rent.  I'm looking into moving options right now, overall. 
I do have to pay cash for my upcoming semester (about 1k) as well as the other upcoming expenses I mentioned (about 2k total before the end of the year).



Thought I'd give you my advice.  Bare in mind I'm no expert!!

First things first, your student loans are dirt cheap.  Leave them as they are for now.

Do you have a 401k or anything similar where you work?

It seems to me as though you have loads of savings/emergency funds.  What type of accounts are these in?  Are you earning any returns at all?  Do you need all these various funds or could you put them all together in one emergency fund?  My plan for my emergency fund is 3 months costs (But I'm in England where we have the NHS and a brilliant Welfare system which means there is less risk to losing everything).

You have $5,700 in savings for a camper home.  Could you not invest this and enable it to grow more quickly? If that was in Vanguard you'd probably be earning another $400 per year whilst it sits there.


My point is, in your $14,207 worth of assets, it looks to me like only $1,745 is actually working for you.  Do you really need $12k+ for emergencies?

I'd love to have 14k in assets right now, keep up the good work!


Hey Manchester- I appreciate the advice!
For me, I've found that the assigned savings accounts help.  If I just have one lump "emergency savings" I'm apt not to touch it.  3k covers my basic living for three months.  Most of this is in a regular savings account earning about 1%.  I do have a vanguard account.  I must admit, my eyes glaze over any time I try to deeply understand index funds, all of the different vanguard accounts, withdraw strategies, etc.  I'm kind of a basic homesteading type-bootstrapping my savings- person... who is very open to learning smarter ways.
If I put that house savings into vanguard, I could always take it out in 3-5 years when I am ready to purchase a home, right?  I am saving to about 30k to purchase a RVIA Certified Tiny Home on wheels from a builder outright. 

Two facts about me:

  • I am so risk averse it isn't even funny... the idea that I *could* lose money in index funds is terrifying to me... it actually turns my stomach every time I send money to Vanguard.
  • I am morally very debt averse and want those student loans off of my shoulders AS SOON AS POSSIBLE.  I think about them when I lay in bed at night.  I know that sounds like a euphemism, but I actually do that.  Ha

Bearing all of that in mind- do you think I'd do best to pull the car emergency savings and the house savings and invest them elsewhere (as in, Vanguard)?  And just deal with my nervousness about it? 
I could LIKELY keep the Pet and the Emergency funds (as well as the estimated taxes and the car insurance - I do like keeping them separated in this way) how they are, since those are the ones I'd need to access immediately in an actual emergency... but I have two credit cards that I keep zero balance on that have 3k limits, so you're probably right... I don't need 14k at my fingertips.
I have been working on keeping less in my checking account and getting it closer to exactly what I need in there (saving/investing the rest).

Any advice is great and I'm ready to listen!  Thanks!

I suppose the question is how bad do you want to FIRE and how much are you willing to risk to get there?  I hope this doesn't sound rude/blunt, but your fear of losing money is costing you money. 


Stocks and shares ARE confusing!  Especially to people like myself who're just starting out.  That why there are so many people making serious money to advise people on the subject.  Have you read J L Colin's stock series?  It's bloody brilliant if you haven't and was written as instructions for his daughter to teach her about investing.

Here's what I'd do if I were in your shoes...

Emergency fund + General savings = 3250 Remove 250
Vehicle Emergency Fund = 1271 Close this account, add money to your investment 'pot'
Pet Emergency Fund = 730 Add 250 you removed from Emergency fund
Car Insurance collection (paid from yearly) = 135 (just paid this in July) Leave as is
Camper/Tiny home Savings = 5700 Close this account and add money into investment pot
Estimated Taxes Set Aside = 140 Leave as is
Consistent Checking Surplus for immediate emergencies = 1236 Remove 736 which should be put in investment pot


That leaves you with the following:

Savings/Emergency $4,755
Available credit to hand through cc's $3,000
Money available to invest $7,707

That leaves you with the best part of 8 months living time if SHTF.  Any emergency that costs more than that is going to be such a nightmare that I doubt any money at your disposal is going to help.  You don't need more than that! 

Thanks for all of the ideas!  SO to be clear, the money that I invest can be withdrawn anytime anyways for an emergency- it just takes a bit longer for it to hit a bank account where I could actually use it?

You can then invest nearly $8k how you see fit - here is where your risk tolerance comes into the equation.  You need to decide your asset allocation.  You could invest 10% of that in high risk funds, 50% in a safer, medium to low risk, index funds and allocate the last 40% into bonds (these are much lower risk - but also lower returns). 
Again, here I think my question is... will I be able to pull out 30k from these when I need to purchase the house in 3-5 years?  I "have" a vanguard account, but as I mentioned before... I really really don't understand it.  I've ready everything I can get my hands on, and all of it still seems above my level of understanding.  I should hit up Reddit for one of those "explain it like I'm 5" threads on investing....

Debt worries aren't nice, but there are people in much worse positions than yourself.  Your student loans are so cheap it wouldn't make sense to pay them off in a hurry.  Every $10 you owe on your more expensive loan is costing you 10 cents.  Every $10 you invest in Vanguard will most likely earn you over 70 cents.  The more money you have, the less you will worry about money, right?
I hope!  Stress management isn't my best skill, but I am working on it.  I'm still as stressed about money as I was when I was living in govt. housing and on food stamps.

If your employer offers a 401k contribution you HAVE to take them up on it.  It's basically free money - what other investment would earn you !00% returns year on year?

I WISH!  I am offered no benefits of any kind besides a cell phone reimbursement and a company car should I wish (I did the calculations and it's not worth it).  I'm up for a review soon, so I am hoping to at least get a substantial and fair raise to make up for that.

Thanks again!  I'll look into the possibility of all you've mentioned.
Title: Re: Saving to $10K
Post by: JanetJackson on October 26, 2017, 11:52:26 AM
P.S. On feeling overwhelmed by starting out in investing: Fidelity has Target Year Index Funds. It's an index fund whose asset allocation changes automatically as you get closer to your retirement year (i.e. it owns a stocks index fund and a bonds index fund and balances its investment in each). They're very slightly more expensive than bare bones index funds where you have to do the asset allocation yourself, but much cheaper than the general Target Year funds which are managed. (Make sure it has "index" in the fund name! They will try to sell you on the managed funds instead.)

I'm pretty sure Vanguard offers something similar, and either company will charge you extra for buying the other company's fund through them, so stay in-house - if you already have a Vanguard account, use Vanguard. But having the automatic asset allocation also helped soothe my nerves - one less thing for me to somehow mess up.

(I do use a target year as though I will retire at 65; this ensures it will be set up for more aggressive growth for longer, and I can move it into a different target year fund whenever I actually want it to start being more conservative.)

HI Tass!  Thanks for the notes.  I will be honest... there are even some terms in your post I don't quite understand.  I appreciate the help and have highlighted the terms I do not understand to see if you have time to clarify-- if you don't, I totally understand- it's not your job to educate me!  I've just read what feels like EVERYTHING regarding investing and I really don't understand it any better.... even the most basic is over my head.  It's embarrassing compared to the level of knowledge everyone here has.
Title: Re: Saving to $10K
Post by: Tass on October 26, 2017, 01:10:24 PM
P.S. On feeling overwhelmed by starting out in investing: Fidelity has Target Year Index Funds. It's an index fund whose asset allocation changes automatically as you get closer to your retirement year (i.e. it owns a stocks index fund and a bonds index fund and balances its investment in each). They're very slightly more expensive than bare bones index funds where you have to do the asset allocation yourself, but much cheaper than the general Target Year funds which are managed. (Make sure it has "index" in the fund name! They will try to sell you on the managed funds instead.)

I'm pretty sure Vanguard offers something similar, and either company will charge you extra for buying the other company's fund through them, so stay in-house - if you already have a Vanguard account, use Vanguard. But having the automatic asset allocation also helped soothe my nerves - one less thing for me to somehow mess up.

(I do use a target year as though I will retire at 65; this ensures it will be set up for more aggressive growth for longer, and I can move it into a different target year fund whenever I actually want it to start being more conservative.)

HI Tass!  Thanks for the notes.  I will be honest... there are even some terms in your post I don't quite understand.  I appreciate the help and have highlighted the terms I do not understand to see if you have time to clarify-- if you don't, I totally understand- it's not your job to educate me!  I've just read what feels like EVERYTHING regarding investing and I really don't understand it any better.... even the most basic is over my head.  It's embarrassing compared to the level of knowledge everyone here has.

Here is the stock series overview which will teach you the basics. It's pretty long but if you start at the beginning you can get a good overview even if you don't finish. And it's basically where I learned all of this. http://jlcollinsnh.com/stock-series/

Here's the basics. (And please correct me if I'm wrong, because I am no expert.)

Stocks are when you loan money to a company buy buying a piece of it; the company repays you by paying you a portion of their profit called a dividend, and you can make money if you sell the stock later at a higher price. Stocks grow quickly but also might drop quickly in the short term; they're not very stable.

Bonds are when you loan money to a government or company and they pay you back with interest, but there's no ownership or dividend involved. Bonds don't grow very fast but they are considered very stable.

A mutual fund or just a "fund" is a collection of stocks and bonds that you can invest in as a group - you invest in the fund, and the fund invests in other stuff. It's kind of like a shell for your investments where somebody else has to figure out the details for you.

Index funds are when you buy a little piece of everything on a particular market. There are stock index funds and bond index funds. They are a good investment especially over long periods of time, but you need to decide how much of each (stocks vs bonds) you want. That's called asset allocation. 100% stocks is extremely aggressive - very risky but lots of growth potential - 100% bonds has minimal growth potential but also minimal loss potential (unless the government collapses, but in that case your savings are probably screwed either way). For people just starting out with a lot of time to grow, an 80% stocks/20% bonds allocation is commonly recommended.

Managed funds are those where there's a person in charge of deciding what stocks and bonds the fund invests in. This costs extra - not a cost you will see, but an expense ratio, which is a cost that is taken out of the gains that the fund makes. You can see the expense ratio on pages that describe the features of various funds. Companies that run managed funds will swear they do better than index funds (aka the market), and a small minority do, but we here at MMM don't believe in stock picking. In a cheaper index fund, you get to keep more of your money. (The managed fund I started out in had an expense ratio of 0.75%; the index fund I'm in now has one of 0.15%. Plain index funds are even cheaper. These numbers sound small but they make a big difference.)

Fidelity and Vanguard both run a variety of mutual funds. They will charge you fees to buy a fund from the other company, and they're all very similar anyway, so it's not worth it; just buy funds run by the company your account is with. That's in-house trading.

A target date fund like the one I mentioned owns several other index funds, and will change its asset allocation between them over time. In general, this means that as you get closer to retiring, you'll to have fewer stocks and more bonds, so your savings become more stable. When you're just starting out, you can handle more risk, because you'll have more time to recover from it.

If you want to retire quickly, you also need to be willing to pursue higher growth. If I plan to retire in 10 years, and I invest in a target date fund for 10 years from now, the growth will be very slow - because it's designed for 55-year-olds who don't want to see their lifelong investment disappear. But I'll never make it to my ambitious goal in only 10 years with that strategy. Instead, I'm in a fund with a target date of 2055 - this one is actually for people my age, designed to grow quickly. It's riskier, but if it crashes, I can recover - I just might have to work 12 years instead of 10. (Pulling these timelines out of nowhere, ftr.) Once I DO retire and it's important to maintain the money I have, since I won't be accumulating more, I can switch that money into a fund meant for retirees.

It's important to remember that the fluctuations in the market between when you buy and when you sell don't matter. Only the prices when you make those transactions matter. I have $3k in an index fund right now, and I won't be retiring for a long time, so I won't be touching that money for years and years. If the stock market crashes tomorrow and suddenly my $3k investment is only worth $500, it doesn't matter to me, because it has plenty of time to recover; if anything, I should be making sure I invest extra while the prices are so cheap. If you read the stock series I linked to, he'll describe how the worst thing you can possibly do is to sell your stock during a crash - but people panic and do it all the time.

How was that explanation?
Title: Re: Saving to $10K
Post by: fluffmuffin on October 26, 2017, 01:20:16 PM
I like hearing about the biking.  Certainly more exciting than hearing about my teeth!

Your strategy of practicing biking to work on a Saturday is exactly what I would suggest to fluffmuffin.  And keep remembering that riding in traffic gets easier the more you get used to it.  Practice might seem silly, but it works.

I totally believe in the value of practice! It's just a matter of when at the moment. Monday in the early morning is a lower-traffic time to "practice" my route than Saturday during the day, actually, or I would have already done it that way. I could do early on Saturday, but I have my group long runs for the next couple of weeks. And I'm not committing to anything on Sunday right now, since it's the one day of the week I don't have to be up early.

I see Monday as more of a data-gathering exercise than a true attempt at bike-commuting. I'm also going for a ride after work today on quiet streets I'm very familiar with, but at a slightly higher-traffic time than usual, which should be a good practice run for the practice run Monday. If either are catastrophes I can always hop off after 5 minutes and walk the rest of the way.
Title: Re: Saving to $10K
Post by: Moonwaves on October 27, 2017, 01:01:27 AM
P.S. On feeling overwhelmed by starting out in investing: Fidelity has Target Year Index Funds. It's an index fund whose asset allocation changes automatically as you get closer to your retirement year (i.e. it owns a stocks index fund and a bonds index fund and balances its investment in each). They're very slightly more expensive than bare bones index funds where you have to do the asset allocation yourself, but much cheaper than the general Target Year funds which are managed. (Make sure it has "index" in the fund name! They will try to sell you on the managed funds instead.)

I'm pretty sure Vanguard offers something similar, and either company will charge you extra for buying the other company's fund through them, so stay in-house - if you already have a Vanguard account, use Vanguard. But having the automatic asset allocation also helped soothe my nerves - one less thing for me to somehow mess up.

(I do use a target year as though I will retire at 65; this ensures it will be set up for more aggressive growth for longer, and I can move it into a different target year fund whenever I actually want it to start being more conservative.)

HI Tass!  Thanks for the notes.  I will be honest... there are even some terms in your post I don't quite understand.  I appreciate the help and have highlighted the terms I do not understand to see if you have time to clarify-- if you don't, I totally understand- it's not your job to educate me!  I've just read what feels like EVERYTHING regarding investing and I really don't understand it any better.... even the most basic is over my head.  It's embarrassing compared to the level of knowledge everyone here has.
I’m with you on this to a certain extent JJ, I am extremely risk averse and although I’ve known the basics around stocks and shares for years (I did business organisation in school and studied business in college!!! – let’s just say I got more out of the language part of my studies)), it has never clicked well for me. I always feel so stupid to have to keep going and looking things up over and over. It usually makes sense when someone is explaining it to me but half an hour later if I were to try to explain any part of what I’d just heard, I wouldn’t be able to. I found MMM a few years ago and it was only a few months ago that I actually started to buy index funds. And even then, it’s at a very low rate of 50/month using an automatic savings plan. I checked one or two things (like that the TER everyone talks about was among the lowest of what was on offer) and then, once the decision was made and I’d set it up, I tried to stop second-guessing myself. Anyway, I found Dr. Doom’s blog posts kind of useful and I remember reading the one on having an investment policy and it really making a lot of sense to me. Not sure if you’ve read it already but it might be useful. Living a Fi - Investment Policy Statement (https://livingafi.com/2015/02/10/an-investment-policy-statement-update/). And just in general keep reading stuff. At some stage you will read something that will just click for you on that day.
Title: Re: Saving to $10K
Post by: Manchester on October 27, 2017, 04:03:56 AM

22/09/2017: 
Current account - £927.07
Emergency fund - £1.58
Investments - £0
Credit Card debt - -£1,288.72
Payments Due this month - -£1022

Total - -£1,382.07


 23/10/2017:

Current Account - £113.95
Emergency fund - £1.58
Investments - £527.21
Credit Card - -£822.27

TOTAL - -£179.53


Payday today!  My overtime and tax breaks have come in so I've paid off my credit card.

Guys I'm officially debt free and have a positive net worth for the first time in months! Everything is looking on track for my target of £3k net worth in Feb.
Title: Re: Saving to $10K
Post by: Imma on October 27, 2017, 05:34:06 AM
I'm going to say something very heritic around here: if you're not comfortable with investing, don't do it.

I grew up learning about investing, my parents invested as well (although not always succesfully, with small amounts of money and they follow a totally different strategy from me) so I'm comfortable with having money in the market. My s/o wasn't raised like that and doesn't really feel comfortable with it - also due to lack of knowledge.

If having money in the market is going to stress you out, then don't do it. That doesn't mean you shouldn't do it ever, but take some time to get used to the idea, read up on it, play around a bit by investing smaller amounts, decide what kind of risk you're comfortable with. How bad do you want to FIRE? The rule of thumb is very simple: the more money you make, the more risk you are taking. I know people on here will say that having money in a savings account is risky because of inflation, and while that's true, it's still a lot less risky than a lot of other products available.

If you want to keep a lot of money in a savings account rather than in the market, there's also the option of the time deposit. It's still a savings account, but you get a higher interest % than on a regular account. I see you're saving up to buy a tiny house / RV a couple of years into the future. You could put that money in a 1 or even 5 year time deposit and get a lot more interest. You can still access the money in case of emergency, but you will normally lose a part of the interest.

Personally, I don't put money in the market I can't afford to lose. I remember 10 years ago I was in high school and my parents advised me to put my savings from my parttime job into the market. I put in €700, a year later it was only worth €350. I was lucky enough to be able to keep that money in the market for a while, I didn't have to sell it until it was back to €500, but it was a valuable lesson for me. Markets fluctuate and it can take a long time to recover. That's ok for your long-term retirement savings, but not OK if you're saving up to buy a tiny home within 5 years. Only yesterday was my country's stock exchange index back to the level of 2007. The market recovered, but it took a full decade.
Title: Re: Saving to $10K
Post by: JanetJackson on October 27, 2017, 06:34:18 AM
P.S. On feeling overwhelmed by starting out in investing: Fidelity has Target Year Index Funds. It's an index fund whose asset allocation changes automatically as you get closer to your retirement year (i.e. it owns a stocks index fund and a bonds index fund and balances its investment in each). They're very slightly more expensive than bare bones index funds where you have to do the asset allocation yourself, but much cheaper than the general Target Year funds which are managed. (Make sure it has "index" in the fund name! They will try to sell you on the managed funds instead.)

I'm pretty sure Vanguard offers something similar, and either company will charge you extra for buying the other company's fund through them, so stay in-house - if you already have a Vanguard account, use Vanguard. But having the automatic asset allocation also helped soothe my nerves - one less thing for me to somehow mess up.

(I do use a target year as though I will retire at 65; this ensures it will be set up for more aggressive growth for longer, and I can move it into a different target year fund whenever I actually want it to start being more conservative.)

HI Tass!  Thanks for the notes.  I will be honest... there are even some terms in your post I don't quite understand.  I appreciate the help and have highlighted the terms I do not understand to see if you have time to clarify-- if you don't, I totally understand- it's not your job to educate me!  I've just read what feels like EVERYTHING regarding investing and I really don't understand it any better.... even the most basic is over my head.  It's embarrassing compared to the level of knowledge everyone here has.
I’m with you on this to a certain extent JJ, I am extremely risk averse and although I’ve known the basics around stocks and shares for years (I did business organisation in school and studied business in college!!! – let’s just say I got more out of the language part of my studies)), it has never clicked well for me. I always feel so stupid to have to keep going and looking things up over and over. It usually makes sense when someone is explaining it to me but half an hour later if I were to try to explain any part of what I’d just heard, I wouldn’t be able to. I found MMM a few years ago and it was only a few months ago that I actually started to buy index funds. And even then, it’s at a very low rate of 50/month using an automatic savings plan. I checked one or two things (like that the TER everyone talks about was among the lowest of what was on offer) and then, once the decision was made and I’d set it up, I tried to stop second-guessing myself. Anyway, I found Dr. Doom’s blog posts kind of useful and I remember reading the one on having an investment policy and it really making a lot of sense to me. Not sure if you’ve read it already but it might be useful. Living a Fi - Investment Policy Statement (https://livingafi.com/2015/02/10/an-investment-policy-statement-update/). And just in general keep reading stuff. At some stage you will read something that will just click for you on that day.

Thank you, I will check that out.  You're right, someday something will click.  I'm perhaps a different type of learner than most, and I see how this has transpired even in my lifetime of sports.  I've been competing in the same sport for ten years now (and a ton before that) and it's only when I hear the RIGHT person explain something, or demonstrate it in the RIGHT way that I learn it.  There have been things that I've struggled with for YEARS, only to have a drop-in out of state visitor come to practice and quickly show me and POOF, I'm excellent at it. 
I know this can happen with investing.
Thanks for your support.
Title: Re: Saving to $10K
Post by: JanetJackson on October 27, 2017, 06:35:35 AM
I'm going to say something very heritic around here: if you're not comfortable with investing, don't do it.

I grew up learning about investing, my parents invested as well (although not always succesfully, with small amounts of money and they follow a totally different strategy from me) so I'm comfortable with having money in the market. My s/o wasn't raised like that and doesn't really feel comfortable with it - also due to lack of knowledge.

If having money in the market is going to stress you out, then don't do it. That doesn't mean you shouldn't do it ever, but take some time to get used to the idea, read up on it, play around a bit by investing smaller amounts, decide what kind of risk you're comfortable with. How bad do you want to FIRE? The rule of thumb is very simple: the more money you make, the more risk you are taking. I know people on here will say that having money in a savings account is risky because of inflation, and while that's true, it's still a lot less risky than a lot of other products available.

If you want to keep a lot of money in a savings account rather than in the market, there's also the option of the time deposit. It's still a savings account, but you get a higher interest % than on a regular account. I see you're saving up to buy a tiny house / RV a couple of years into the future. You could put that money in a 1 or even 5 year time deposit and get a lot more interest. You can still access the money in case of emergency, but you will normally lose a part of the interest.

Personally, I don't put money in the market I can't afford to lose. I remember 10 years ago I was in high school and my parents advised me to put my savings from my parttime job into the market. I put in €700, a year later it was only worth €350. I was lucky enough to be able to keep that money in the market for a while, I didn't have to sell it until it was back to €500, but it was a valuable lesson for me. Markets fluctuate and it can take a long time to recover. That's ok for your long-term retirement savings, but not OK if you're saving up to buy a tiny home within 5 years. Only yesterday was my country's stock exchange index back to the level of 2007. The market recovered, but it took a full decade.

Thanks for the advice, and for allowing me not to feel *crazy* for being so scared of the market.
Quick question, is a Time Deposit the same thing as a CD?
Title: Re: Saving to $10K
Post by: JanetJackson on October 27, 2017, 06:36:15 AM

22/09/2017: 
Current account - £927.07
Emergency fund - £1.58
Investments - £0
Credit Card debt - -£1,288.72
Payments Due this month - -£1022

Total - -£1,382.07


 23/10/2017:

Current Account - £113.95
Emergency fund - £1.58
Investments - £527.21
Credit Card - -£822.27

TOTAL - -£179.53


Payday today!  My overtime and tax breaks have come in so I've paid off my credit card.

Guys I'm officially debt free and have a positive net worth for the first time in months! Everything is looking on track for my target of £3k net worth in Feb.

GREAT JOB!  CONGRATS!
Title: Re: Saving to $10K
Post by: JanetJackson on October 27, 2017, 06:41:25 AM
P.S. On feeling overwhelmed by starting out in investing: Fidelity has Target Year Index Funds. It's an index fund whose asset allocation changes automatically as you get closer to your retirement year (i.e. it owns a stocks index fund and a bonds index fund and balances its investment in each). They're very slightly more expensive than bare bones index funds where you have to do the asset allocation yourself, but much cheaper than the general Target Year funds which are managed. (Make sure it has "index" in the fund name! They will try to sell you on the managed funds instead.)

I'm pretty sure Vanguard offers something similar, and either company will charge you extra for buying the other company's fund through them, so stay in-house - if you already have a Vanguard account, use Vanguard. But having the automatic asset allocation also helped soothe my nerves - one less thing for me to somehow mess up.

(I do use a target year as though I will retire at 65; this ensures it will be set up for more aggressive growth for longer, and I can move it into a different target year fund whenever I actually want it to start being more conservative.)

HI Tass!  Thanks for the notes.  I will be honest... there are even some terms in your post I don't quite understand.  I appreciate the help and have highlighted the terms I do not understand to see if you have time to clarify-- if you don't, I totally understand- it's not your job to educate me!  I've just read what feels like EVERYTHING regarding investing and I really don't understand it any better.... even the most basic is over my head.  It's embarrassing compared to the level of knowledge everyone here has.

Here is the stock series overview which will teach you the basics. It's pretty long but if you start at the beginning you can get a good overview even if you don't finish. And it's basically where I learned all of this. http://jlcollinsnh.com/stock-series/

Here's the basics. (And please correct me if I'm wrong, because I am no expert.)

Stocks are when you loan money to a company buy buying a piece of it; the company repays you by paying you a portion of their profit called a dividend, and you can make money if you sell the stock later at a higher price. Stocks grow quickly but also might drop quickly in the short term; they're not very stable.

Bonds are when you loan money to a government or company and they pay you back with interest, but there's no ownership or dividend involved. Bonds don't grow very fast but they are considered very stable.

A mutual fund or just a "fund" is a collection of stocks and bonds that you can invest in as a group - you invest in the fund, and the fund invests in other stuff. It's kind of like a shell for your investments where somebody else has to figure out the details for you.

Index funds are when you buy a little piece of everything on a particular market. There are stock index funds and bond index funds. They are a good investment especially over long periods of time, but you need to decide how much of each (stocks vs bonds) you want. That's called asset allocation. 100% stocks is extremely aggressive - very risky but lots of growth potential - 100% bonds has minimal growth potential but also minimal loss potential (unless the government collapses, but in that case your savings are probably screwed either way). For people just starting out with a lot of time to grow, an 80% stocks/20% bonds allocation is commonly recommended.

Managed funds are those where there's a person in charge of deciding what stocks and bonds the fund invests in. This costs extra - not a cost you will see, but an expense ratio, which is a cost that is taken out of the gains that the fund makes. You can see the expense ratio on pages that describe the features of various funds. Companies that run managed funds will swear they do better than index funds (aka the market), and a small minority do, but we here at MMM don't believe in stock picking. In a cheaper index fund, you get to keep more of your money. (The managed fund I started out in had an expense ratio of 0.75%; the index fund I'm in now has one of 0.15%. Plain index funds are even cheaper. These numbers sound small but they make a big difference.)

Fidelity and Vanguard both run a variety of mutual funds. They will charge you fees to buy a fund from the other company, and they're all very similar anyway, so it's not worth it; just buy funds run by the company your account is with. That's in-house trading.

A target date fund like the one I mentioned owns several other index funds, and will change its asset allocation between them over time. In general, this means that as you get closer to retiring, you'll to have fewer stocks and more bonds, so your savings become more stable. When you're just starting out, you can handle more risk, because you'll have more time to recover from it.

If you want to retire quickly, you also need to be willing to pursue higher growth. If I plan to retire in 10 years, and I invest in a target date fund for 10 years from now, the growth will be very slow - because it's designed for 55-year-olds who don't want to see their lifelong investment disappear. But I'll never make it to my ambitious goal in only 10 years with that strategy. Instead, I'm in a fund with a target date of 2055 - this one is actually for people my age, designed to grow quickly. It's riskier, but if it crashes, I can recover - I just might have to work 12 years instead of 10. (Pulling these timelines out of nowhere, ftr.) Once I DO retire and it's important to maintain the money I have, since I won't be accumulating more, I can switch that money into a fund meant for retirees.

It's important to remember that the fluctuations in the market between when you buy and when you sell don't matter. Only the prices when you make those transactions matter. I have $3k in an index fund right now, and I won't be retiring for a long time, so I won't be touching that money for years and years. If the stock market crashes tomorrow and suddenly my $3k investment is only worth $500, it doesn't matter to me, because it has plenty of time to recover; if anything, I should be making sure I invest extra while the prices are so cheap. If you read the stock series I linked to, he'll describe how the worst thing you can possibly do is to sell your stock during a crash - but people panic and do it all the time.

How was that explanation?

Thanks TASS!  It'll take me a hot sec to read through all of that, but I really appreciate the time it took you to spell those things out.
I have read the Stock Series, at least one... maybe twice if I remember correctly.  Perhaps I sound a bit like a slug, but I found it SO hard to read and get through... like chewing on cardboard.  But I do know it's necessary.
Once I get out of work this afternoon I'm going to sit down and read your full response, as your writing seems to flow easier for my stubborn brain :)
Thanks again!
Title: Re: Saving to $10K
Post by: fluffmuffin on October 27, 2017, 08:49:18 AM
Thanks TASS!  It'll take me a hot sec to read through all of that, but I really appreciate the time it took you to spell those things out.
I have read the Stock Series, at least one... maybe twice if I remember correctly.  Perhaps I sound a bit like a slug, but I found it SO hard to read and get through... like chewing on cardboard.  But I do know it's necessary.
Once I get out of work this afternoon I'm going to sit down and read your full response, as your writing seems to flow easier for my stubborn brain :)
Thanks again!

JJ, this is maybe an unpopular opinion around here, and I would definitely suggest that you spend some time getting acquainted with the basics of investment terminology as outlined in Tass's excellent post...but if I were you, I would hop over to the Investment Alley subforum, share your goals (RE? savings vehicle for your RV fund? something else?), and ask people where they think you should stick your money. Not necessarily general info like "oh, maybe a Roth IRA or a Vanguard fund," but specific vehicles like VTSAX/VTSWX/whatever else (those are the names of specific investment funds). This isn't information that you need to figure out on your own! There are so many folks here who have been there/done that with investing--you don't need to reinvent the wheel, you need to draw on others' experiences and give yourself the tools to evaluate the advice that you're getting.

I also find the technical details of investing boring. I have a baseline level of competency so I know whether or not someone is trying to take me for a ride, but I'm content with crowd-sourced wisdom for the specifics of Investment Option 1 vs. Investment Option 2.
Title: Re: Saving to $10K
Post by: DieHard_772 on October 27, 2017, 02:41:29 PM

I also find the technical details of investing boring. I have a baseline level of competency so I know whether or not someone is trying to take me for a ride, but I'm content with crowd-sourced wisdom for the specifics of Investment Option 1 vs. Investment Option 2.

Hey guys,
I just want to remind you that this thread is supposed to be about us checking in about our increasing networth.  There's lots of threads for discussing investment options in depth, or you
can start a new one.
Let's try to keep the focus on track here  :)

Thanks,
On behalf of all our future Humungous Networths
Title: Re: Saving to $10K
Post by: martyconlonontherun on October 27, 2017, 02:41:47 PM
Background:
Age: 29
"Switched" Careers at 25.
Started taking personal finances 'seriously' around 27 (aka actually saving money, 401k, etc).
Started taking personal finances seriously around 29
Salary gradually up to 65k
Married but don't include house (equity/mortgage) or joint savings in these calculations since she's the boss, it gets messy with house equity/sweat equity ($40k total on a $170k house in May), and it will just be cherry on the top.
-Paid off car but not adding value of that in the calculation since its not worth more than a few Gs and requires maintenance
-4.5 years left of student loan payments I'm aggressively paying off/refinanced in January 17
-15 year mortgage in May
-Not including 529 accounts-Only a few hundred now, but it will be going to Godchildren/my future children so not my money in my eyes.

January 2016-
($45k) Student Debt
($2k) Personal CC Debt
$8k 401k
NW: ($38k)

NW April 2016: ($34K)
July 2016: ($28.4k)
October 2016: ($22.6k)
January 2017: ($20.8k) (Refinanced loan and intransit payments not reflected)
April 2017: ($10.9k)
July 2017: ($5.7k)
August 2017: ($2.5k)
September 2017:(~$1.7k)
October 2017: $1.8k - $32k investments

Stretch goal is to be $10k by 30 (Early January).
Hoping to increase 401k/IRA when the Sloans are paid off and hopefully some more salary. Realistic goal is to retire by 55 unless I really climb the corporate ladder.
Current  Beginning Nov 2017: $4.5K - Investments ~$33.8k.

Making progress every month. Just need to stay focused as the number gets higher.
Title: Re: Saving to $10K
Post by: Tass on October 27, 2017, 03:10:18 PM
I'll wait to post an October sum-up until the actual end of October. Right now I just need somewhere to be excited that I think I could be both debt-free and at $10k by the end of the year! So close I can taste it...
Title: Re: Saving to $10K
Post by: Imma on October 28, 2017, 03:16:43 AM
I'm going to say something very heritic around here: if you're not comfortable with investing, don't do it.

I grew up learning about investing, my parents invested as well (although not always succesfully, with small amounts of money and they follow a totally different strategy from me) so I'm comfortable with having money in the market. My s/o wasn't raised like that and doesn't really feel comfortable with it - also due to lack of knowledge.

If having money in the market is going to stress you out, then don't do it. That doesn't mean you shouldn't do it ever, but take some time to get used to the idea, read up on it, play around a bit by investing smaller amounts, decide what kind of risk you're comfortable with. How bad do you want to FIRE? The rule of thumb is very simple: the more money you make, the more risk you are taking. I know people on here will say that having money in a savings account is risky because of inflation, and while that's true, it's still a lot less risky than a lot of other products available.

If you want to keep a lot of money in a savings account rather than in the market, there's also the option of the time deposit. It's still a savings account, but you get a higher interest % than on a regular account. I see you're saving up to buy a tiny house / RV a couple of years into the future. You could put that money in a 1 or even 5 year time deposit and get a lot more interest. You can still access the money in case of emergency, but you will normally lose a part of the interest.

Personally, I don't put money in the market I can't afford to lose. I remember 10 years ago I was in high school and my parents advised me to put my savings from my parttime job into the market. I put in €700, a year later it was only worth €350. I was lucky enough to be able to keep that money in the market for a while, I didn't have to sell it until it was back to €500, but it was a valuable lesson for me. Markets fluctuate and it can take a long time to recover. That's ok for your long-term retirement savings, but not OK if you're saving up to buy a tiny home within 5 years. Only yesterday was my country's stock exchange index back to the level of 2007. The market recovered, but it took a full decade.

Thanks for the advice, and for allowing me not to feel *crazy* for being so scared of the market.
Quick question, is a Time Deposit the same thing as a CD?

According to wiki, yes, it's called a CD in the US. I'm not sure if it's 100% the same, but it looks the same to me.

I haven't been paid yet, but this month wasn't a good month for my savings. We did some (necessary) bathroom renovations and we booked a short trip to England in a few months. It's a cheap trip (€225 each) but it's still a lot of money. Luckily I will get some overtime from last month.
Title: Re: Saving to $10K
Post by: Slanhirn on October 29, 2017, 03:37:22 AM
Hey Everyone! Always inspiring to see the progress everyone's making :)

July 2017 = (£2,877)
August 2017 = (£1,852)  = +£1,025
September 2017 = (£650) = +£1,202
October 2017 = £1,238 = + £1,888
November 2017 = £3,066 = + £1,178

Assets = £17,890
Debts = (£15,109) -> student loans

I'm so happy I'm over the £0 net worth mark, I feel like I'm starting to make progress beyond the student loans!

My stretch goal for £10K NW is March 2018.


Title: Re: Saving to $10K
Post by: DieHard_772 on October 29, 2017, 01:26:09 PM
Hey Everyone! Always inspiring to see the progress everyone's making :)

July 2017 = (£2,877)
August 2017 = (£1,852)  = +£1,025
September 2017 = (£650) = +£1,202
October 2017 = £1,238 = + £1,888
November 2017 = £3,066 = + £1,178

Assets = £17,890
Debts = (£15,109) -> student loans

I'm so happy I'm over the £0 net worth mark, I feel like I'm starting to make progress beyond the student loans!

My stretch goal for £10K NW is March 2018.

Way to go, keep it up!
Title: Re: Saving to $10K
Post by: LittleWanderer on October 30, 2017, 08:23:40 AM
End of October update:

Emergency fund: $5902
401k: $3081
TOTAL: $8983

Inching my way closer.  I might even hit the elusive goal next month.  It's going to be very close.  Since my mega dental bills won't come until Feb/March, I'm thinking I'll even stay above $10K through those.  So...this may be my last month here with you guys! 
Title: Re: Saving to $10K
Post by: Imma on October 30, 2017, 08:47:24 AM

Payday today!

Savings:
July 31: €2400
August 30: €2000

Investments:
July 31:  €1985.37
August 30: €2095.00

Total:
July 31:  €4385.37
August 30: €4095.00

Savings:
August 30:       €2000
September 27: €1300

Investments:
August 30:       €2095
September 27: €2253

Total:
August 30:       €4095
September 27: €3553


Savings:
September 27: €1300
October 30: €1400

Investments:
September 27: €2253
October 30: €2461

Total:
September 27: €3553
October 30: €3861

Small steps back up after a minor setback this fall due to lots of mostly unavoidable costs. I could have saved more if we hadn't paid off a small tax debt. The upside is that we're done with our montly payments now. We will instead put that payment (€94/month) towards our mortgage.

I don't track debts here, only my emergency fund and my investments, but outside of mortgage and student loans we currently only have 1 small tax debt left and the balance is only €340,20 now. As it's an interest free debt with a minimum payment of €70 I'll be done in March. We have never had any consumer debt, but for a few years our income went up and down and that left us with pretty big tax debts. We would get monthly tax returns that we knew weren't entitled to because our income was lower than expected, but we figured being in debt to the tax man was better than consumer debt or not paying bills. We knew we were working ourselves out of a tight spot and our tax office offers a 24-month pay back term on taxes owed. This small 'loan' from the tax man got us through hard times. We're glad it's paid off now, the montly payment reminded us of some pretty bad times.

I can't believe how well we're doing now, only a few years later. We both have steady jobs, I got a big pay rise recently, our income has nearly doubled, we bought a house with a mortgage payment less than half of what our rent used to be. The problems were mainly caused by my fragile health, which will always be a concern, but in my current job I get paid when I'm sick and our monthly costs are much lower, which means we could survive on one income of we had to.

I also expect to be able to add a couple hundred EUR to my emergency fund in January because my health care costs will probably be lower than expected in 2018. I set aside €200 every month for my health insurance, deductible and physical therapy costs. I don't expect to need any more physical therapy (yay!) so assuming my insurance payment stays roughly the same, from January I'll only set aside €140. I pay my premium on 1 Jan and any remaining balance in that account goes straight to the emergency fund (health costs account is just a separate savings account, no tax advantage).
Title: Re: Saving to $10K
Post by: Rimu05 on October 30, 2017, 10:05:48 AM
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 = $-28,503
Credit card = -$ 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.
Title: Re: Saving to $10K
Post by: Morphy on October 30, 2017, 03:57:28 PM
Oct 16, 2017

Assets: $3378.62
Liabilities: $2270.80
Net Worth: $1107.82

Nothing special to note.

Oct 30, 2017

Assets: $4253.35
Liabilities: $2652.60
Net Worth: $1600.75

Chugging along, slow and steady.
Title: Re: Saving to $10K
Post by: Imma on October 31, 2017, 06:56:18 AM
Oct 16, 2017

Assets: $3378.62
Liabilities: $2270.80
Net Worth: $1107.82

Nothing special to note.

A 45% increase in net worth in 2 weeks, I wouldn't call that slow! Well done!

Oct 30, 2017

Assets: $4253.35
Liabilities: $2652.60
Net Worth: $1600.75

Chugging along, slow and steady.
Title: Re: Saving to $10K
Post by: haypug16 on October 31, 2017, 07:27:02 AM
Happy Halloween everyone! :)

Here's my October 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)
10/13/2017 = $(33,346.78) +9,089.42 increase (7 month average of +$2,786.01)

Very happy with my numbers this month. My credit card debt has gone way down in the last 7 months, from $28,041.11 to $11,645! Because of this my monthly interest has gone down from $412 to $215, and should be even lower next month due to the timing of my payments. I think I set my year end goal as $28K which I think is still doable even though I "discovered" a couple grand in Student Loan interest which increased my total debt. I am still working part-time to earn some extra money and that will go to the end of the year (maybe longer) and all that extra money is going to debt. Not only am I earning more but I am spending less which is really helpful in paying down debt. October was my lowest spend month of the year and that included $500 in dental fees. Looking forward to an even better November :)

How is everyone else doing?
Title: Re: Saving to $10K
Post by: cazio on October 31, 2017, 09:16:39 AM
Awesome work, haypug!!

May I ask how you managed to contribute so much in the past few months? 9k in one month is pretty insane!

Either way, great job! Inspiring numbers.
Title: Re: Saving to $10K
Post by: Tass on October 31, 2017, 10:30:33 AM
July:    8918.00 / (2648.00) = $6270.00
Aug:    9285.52 / (2397.11) = $6888.41
Sep: 10,964.06 / (1897.11) = $9066.95 (rent now paid on the 1st - this is inflated)

Oct: 11,152.69 / (1343.44) = $9809.25

Emergency + travel fund: $6500.00
Misc cash: $906.55 (rent due tomorrow)
Roth: $3746.14
Debt: ($1343.44)

Change: +$742.30

So close! I should hit $10k next month, drop back barely below when rent is paid, and then hit it permanently in Dec - when I hopefully will also have that debt at $0!
Title: Re: Saving to $10K
Post by: JanetJackson on October 31, 2017, 11:42:22 AM
July:    8918.00 / (2648.00) = $6270.00
Aug:    9285.52 / (2397.11) = $6888.41
Sep: 10,964.06 / (1897.11) = $9066.95 (rent now paid on the 1st - this is inflated)

Oct: 11,152.69 / (1343.44) = $9809.25

Emergency + travel fund: $6500.00
Misc cash: $906.55 (rent due tomorrow)
Roth: $3746.14
Debt: ($1343.44)

Change: +$742.30

So close! I should hit $10k next month, drop back barely below when rent is paid, and then hit it permanently in Dec - when I hopefully will also have that debt at $0!

Great job!  Sorry I derailed the thread a bit there earlier, very glad to see numbers again- Y'all's progress is inspiring!
Title: Re: Saving to $10K
Post by: haypug16 on October 31, 2017, 01:43:31 PM
Awesome work, haypug!!

May I ask how you managed to contribute so much in the past few months? 9k in one month is pretty insane!

Either way, great job! Inspiring numbers.

Thanks Cazio. In June the company I worked for announced it was closing. I managed to stay on board till the end of my agreement and got a severance package on Oct 1st of 2 months salary. I have also been working part-time for that company while working full-time at my new job (they needed me longer than they realized, which makes me feel good) So all that extra money went to paying down debt and increasing my Net-Worth.
Title: Re: Saving to $10K
Post by: Imma on November 01, 2017, 04:37:28 AM
July:    8918.00 / (2648.00) = $6270.00
Aug:    9285.52 / (2397.11) = $6888.41
Sep: 10,964.06 / (1897.11) = $9066.95 (rent now paid on the 1st - this is inflated)

Oct: 11,152.69 / (1343.44) = $9809.25

Emergency + travel fund: $6500.00
Misc cash: $906.55 (rent due tomorrow)
Roth: $3746.14
Debt: ($1343.44)

Change: +$742.30

So close! I should hit $10k next month, drop back barely below when rent is paid, and then hit it permanently in Dec - when I hopefully will also have that debt at $0!

Very well done! Seems many of you guys won't be returning to this thread in the new year!
Title: Re: Saving to $10K
Post by: fluffmuffin on November 01, 2017, 06:47:43 AM
Love the progress that everyone is making! Graduation is coming SO soon for so many people!

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

My dog is a moneypit. That's all I'm going to say on only adding $100 to the house fund this paycheck. Looks like my plans for a no-fun-that-costs-money-November were well-timed. (The pup is fine. I just got spoiled by my very low-maintenance, frugality-friendly previous dog, and am still trying to figure out exactly how much I should be budgeting for the new one. Obviously more than I am right now.)

Big picture, ramping up my savings to the level I'm trying to hit has been an interesting exercise. It works fine if I don't have to pull money out of my sinking funds for anything (dental bill in October, dog stuff now, etc.). If I have to top up my sinking funds, everything gets a whole lot tighter. Obviously I'm very, very privileged to get to sit around thinking about the allocation of my theoretical buckets of money.

Oh, biking update: I successfully biked to work on Monday morning! I walked through two intersections, but I made it. I even biked a chunk of the way home in the afternoon. Trying again on Friday.
Title: Re: Saving to $10K
Post by: cazio on November 01, 2017, 08:13:23 AM

Thanks Cazio. In June the company I worked for announced it was closing. I managed to stay on board till the end of my agreement and got a severance package on Oct 1st of 2 months salary. I have also been working part-time for that company while working full-time at my new job (they needed me longer than they realized, which makes me feel good) So all that extra money went to paying down debt and increasing my Net-Worth.

That's awesome!! Sounds like that worked out perfectly for you. keep up the good work!
Title: Re: Saving to $10K
Post by: twocatsinaflat on November 03, 2017, 09:29:55 PM
OCT:
Savings: $453.64
Investments: $225.00
NET WORTH: $678.64

NOV:
Savings: $566.81
Investments: $428.18
NET WORTH: 994.99

That's a $316.35 increase from last month despite adding a phone bill to my expenses now. And I've almost reached $1k!
Title: Re: Saving to $10K
Post by: fluffmuffin on November 04, 2017, 10:16:59 AM
Way to go twocats! Getting those four digits is gonna be an awesome feeling :)
Title: Re: Saving to $10K
Post by: Imma on November 04, 2017, 11:40:56 AM
Well done, twocatsinaflat! You're soooooo close.

Title: Re: Saving to $10K
Post by: Tass on November 05, 2017, 12:45:49 PM
Biking update: I did a 10 mile round trip to work today! (I took a different route there and back for a big loop; it's about 3.5 miles there uphill and 6.5 miles back downhill, due to a construction oddity making the bike path difficult to access from the other direction. But the long route is right along the cliffs, then the ocean, then the lagoon, so it's hard to complain.) Also I did technically walk a the steepest bit in the middle, but I TRAVELED 10 miles either way.

Do y'all think there would be interest in a beginner-bikers TDTG thread? That way I don't have to keep posting off-topic in this one. ;)

In more money-related updates, I'm waiting for my second-to-last debt payment to go through. It's a bit early in the month to judge budget progress but so far so good. For the first time in ages, most of my carry-over budgets aren't starting out in the red - I've actually saved up some leftovers in gifts and entertainment. (The perpetual exception is restaurants.)
Title: Re: Saving to $10K
Post by: fluffmuffin on November 07, 2017, 06:58:52 AM
Tass, I'd love a beginners' biking thread if you wanted to get one started! Glad to hear that you're starting to build a cushion in your budget, too :)
Title: Re: Saving to $10K
Post by: Tass on November 08, 2017, 02:11:42 PM
Boom.

https://forum.mrmoneymustache.com/throw-down-the-gauntlet/start-biking-to-work-cycling-newbies-chat/
Title: Re: Saving to $10K
Post by: Jesus on November 09, 2017, 05:03:56 AM
Current savings: 130$

Going to ramp this up asap.
Title: Re: Saving to $10K
Post by: Tass on November 09, 2017, 08:55:09 AM
July:    8918.00 / (2648.00) = $6270.00
Aug:    9285.52 / (2397.11) = $6888.41
Sep: 10,964.06 / (1897.11) = $9066.95 (rent now paid on the 1st - this is inflated)
Oct: 11,152.69 / (1343.44) = $9809.25

11/9/17: 10,742.36 / (693.44) = $10,048.92 !!!

I have no idea why I got my paycheck on Thursday instead of Friday, but it pushed me over the top! I have more than $48 of expenses before my next paycheck, and I'll be paying rent out of that one, so I expect to hit 10k twice more, with a final success date of 12/8/17.
Title: Re: Saving to $10K
Post by: LittleWanderer on November 09, 2017, 09:10:10 AM
Yay Tass!  5 digits!!!
Title: Re: Saving to $10K
Post by: Moonwaves on November 09, 2017, 09:26:23 AM
Way to go Tass! That'll be a great early christmas present to yourself.

So, some bills finally got paid so I actually feel like I'm almost making progress. Still waiting for one very big bill to be paid and once that comes in I will pay back my sister and then just need to concentrate on saving to pay the tax man when that bill comes in.

As at 26 October 2017, here's how savings stand:
BoI savings a/c: 18.87
DiBa ETF: 349.91
CmzBank savings a/c: 200.00
Total:  568.78
Big bill got paid! So exciting to check my bank account and see such a huge amount of money in it. But also a really good feeling to phone the bank immediately to get the bulk of it transferred to my Irish bank account so that I can transfer it to my sister tomorrow. And then I was pondering what to do with the other 200, thinking that it might be a good idea to keep 100 as a bit of a buffer for the three weekends I'll be away in the next month or so. I finally decided to just transfer 50 of it to my savings and another 50 to my annual expenses account. And then messed up the transfer, didn't pay attention, and ended up transferring 150 to savings. Sigh. Oh well. I could transfer it back but I'm going to leave it now and tell myself it was the universe pushing me to not ease up on saving/not spending efforts.

So now my savings are at:
BoI savings a/c: 18.87
DiBa ETF: 355.70
CmzBank savings a/c: 350.00
Total:  724.57
Title: Re: Saving to $10K
Post by: Tass on November 09, 2017, 10:19:19 AM
And welcome to Jesus. Your first post is in the right place to start building from the ground up!
Title: Re: Saving to $10K
Post by: fluffmuffin on November 09, 2017, 10:41:20 AM
Awesome job, Tass! December 8 is so close that you can almost taste it :)

And another welcome to Jesus!
Title: Re: Saving to $10K
Post by: lemonverbena on November 09, 2017, 11:38:45 PM
Jan 2017:
SEP IRA: $225
Car loan: -$7825

Total: -$7600


Late Jan 2017:
SEP IRA: $225
tIRA: $1590
Car loan: -$7825

Total: -$6010


Mid Feb 2017:
SEP IRA: $226
tIRA: $1604
Car loan: -$5593

Total: -$3763

Mar 2017:
SEP IRA: $227
tIRA: $1630
Car loan: -$5593
Roof loan: -$8864

Total: -$12,600

Numbers going way in the wrong direction, but a roof replacement is so overdue and it feels good to be taking care of it. Should have half of it paid off by the end of the month.

Actually, make that by the end of June.

Mid-Apr 2017:
SEP IRA: $231
tIRA: $1624
Car loan: -$5120
Roof loan: -$8864
Emergency fund: $1000

Total: -$11,129

Late-Jun 2017:
SEP IRA: $245
tIRA: $1702
Car loan: -$4645
Roof loan: -$3864
Emergency fund: $1000

Total: -$5,562

Not even close to zero yet, but moving in the right direction again!

Mid-Sep:
SEP IRA: $581
tIRA: $1777
Car loan: $3931
Roof loan: $3649
Emergency fund: $0

Total: -$5,222

My number is basically the same as before, but life happened and now I need to replenish the emergency fund after a trip my spouse took to urgent care turned into an ambulance ride to the ER and a three day stay in the hospital. He now has an incurable autoimmune disease that will require lots of pharmaceuticals for the rest of his life. It has been an adjustment, for sure. So thankful he has good health insurance and we were able to deal with this with our meager emergency fund, but we also really wish we would have signed up for life insurance while he was still healthy!

Mid-Oct:
SEP IRA: $590
tIRA: $1809
Car loan: $3692
Roof loan: $3578
Emergency fund: $505
Hospital bill: $2024

Total: -$6390

Ah ha ha! Silly me. I thought we had paid off the last of the hospital bills. Nope. Another one rolled in. Always something.

Mid-Nov:
SEP IRA: $1395
tIRA: $1826
Car loan: $3452
Roof loan: $3578
Emergency fund: $1000
Hospital bill: $2024, maybe. It's under review.

Total: -$4833
Title: Re: Saving to $10K
Post by: Trifele on November 10, 2017, 03:42:16 AM
Hi Lemonverbena
I work in healthcare, and there are usually ways to negotiate hospital bills down.  Are you dealing with the billing department itself?  If the billing department is reviewing it, they usually will only check to see that the bill is correct, that your insurance (if any) paid correctly, etc.  They often will not take that extra step to work with you to reduce the amount.
Many hospitals have a separate department for "Patient Financial Services", "Financial Assistance", or some similar name.  Those are the folks that have the authority to reduce bill amounts based on your circumstances.  That might take the form of an income-based discount, a prompt-pay discount, or a zero-interest pay-over-time deal.
So if you don't get anywhere with the billing department, you could tell them "Look, I am struggling to pay this bill. Could I talk to someone about either getting it reduced, or different payment terms?"  That could get you to someone who can make a difference.
Don't be afraid to be a pushy pain in the ass either, if that is called for.  The squeaky wheel gets the grease.  Feel free to PM me if you have specific questions!
Title: Re: Saving to $10K
Post by: DieHard_772 on November 11, 2017, 02:18:51 PM
Hi Lemonverbena
I work in healthcare, and there are usually ways to negotiate hospital bills down.  Are you dealing with the billing department itself?  If the billing department is reviewing it, they usually will only check to see that the bill is correct, that your insurance (if any) paid correctly, etc.  They often will not take that extra step to work with you to reduce the amount.
Many hospitals have a separate department for "Patient Financial Services", "Financial Assistance", or some similar name.  Those are the folks that have the authority to reduce bill amounts based on your circumstances.  That might take the form of an income-based discount, a prompt-pay discount, or a zero-interest pay-over-time deal.
So if you don't get anywhere with the billing department, you could tell them "Look, I am struggling to pay this bill. Could I talk to someone about either getting it reduced, or different payment terms?"  That could get you to someone who can make a difference.
Don't be afraid to be a pushy pain in the ass either, if that is called for.  The squeaky wheel gets the grease.  Feel free to PM me if you have specific questions!

Very interesting.  Thanks for sharing
Title: Re: Saving to $10K
Post by: lemonverbena on November 12, 2017, 12:17:31 PM
Hi Lemonverbena
I work in healthcare, and there are usually ways to negotiate hospital bills down.  Are you dealing with the billing department itself?  If the billing department is reviewing it, they usually will only check to see that the bill is correct, that your insurance (if any) paid correctly, etc.  They often will not take that extra step to work with you to reduce the amount.
Many hospitals have a separate department for "Patient Financial Services", "Financial Assistance", or some similar name.  Those are the folks that have the authority to reduce bill amounts based on your circumstances.  That might take the form of an income-based discount, a prompt-pay discount, or a zero-interest pay-over-time deal.
So if you don't get anywhere with the billing department, you could tell them "Look, I am struggling to pay this bill. Could I talk to someone about either getting it reduced, or different payment terms?"  That could get you to someone who can make a difference.
Don't be afraid to be a pushy pain in the ass either, if that is called for.  The squeaky wheel gets the grease.  Feel free to PM me if you have specific questions!

Thanks for the tip! I'm not sure what department my spouse talked to when he called, but he called to set up a payment plan, see if any of the items listed hadn't already been paid for (I swear they intentionally name line items in the most confusing way possible so no one even knows what they're paying for or if they've been charged twice for the same thing), and to ask, hey, is this the last bill? Not surprisingly, they said, hmmm, something looks strange with the processing of your bill (whatever that means) and they'll review it. So who knows. I'll let you guys know what happens when I find out!
Title: Re: Saving to $10K
Post by: haypug16 on November 15, 2017, 07:40:11 AM
Mid-November 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)
11/15/2017 $(31,098.73) Increase of $2,248.05 for the first half of November.

I should be out of the neg $30ks by the end of this month.

My monthly goal when starting this challenge was a net worth increase of $2K a month, since getting really serious about MMM and my finances I have been surpassing that goal, partly due to my severance pay and my additional income from my part-time job, but also from watching my spending and sticking to my budget. Therefore I am increasing my monthly goal to a net worth increase of $2,500.

Year end goal is ($28K)

Net Zero goal is November 2018 (1 Year!)

$10K Net Worth goal is February 2019 then I get to graduate to the next race :)


Title: Re: Saving to $10K
Post by: Manchester on November 15, 2017, 09:40:43 AM
Well done Haypug, another month in the right direction. 
Title: Re: Saving to $10K
Post by: fluffmuffin on November 16, 2017, 05:18:19 AM
Haypug, you are really crushing it. Serious kudos.

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

Not a lot of progress this paycheck towards the $10k, but I'm feeling a lot less anxious about my sinking funds. It seems like my $10k in a year goal is shot at this point, but I've saved almost $2,000 in five months. I only added like $800 all of last year, so that's still a huge improvement. Thanks for the support and accountability, everybody :)
Title: Re: Saving to $10K
Post by: LittleWanderer on November 16, 2017, 07:56:34 AM
I just want to echo all the kudos for happypug!  You've made SO MUCH progress.  (And $2500/month is more than my take home pay.  Haha.) 
Title: Re: Saving to $10K
Post by: haypug16 on November 16, 2017, 10:44:25 AM
Thanks everyone. "I feel Happy of myself" https://www.youtube.com/watch?v=9PzoxTgfRO0

I do wish I had started on this journey years ago but I will not hang on to "what ifs" I can only move forward from today.
Title: Re: Saving to $10K
Post by: fluffmuffin on November 16, 2017, 02:50:02 PM
Thanks everyone. "I feel Happy of myself" https://www.youtube.com/watch?v=9PzoxTgfRO0

I do wish I had started on this journey years ago but I will not hang on to "what ifs" I can only move forward from today.

I think we all have financial decisions we would have made differently with the benefit of hindsight, but that’s life for ya. All anyone can do is resolve to make changes going forward based on that experience, and put the framework in place to make it possible.
Title: Re: Saving to $10K
Post by: Manchester on November 17, 2017, 03:23:43 AM
Haypug, you are really crushing it. Serious kudos.

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

Not a lot of progress this paycheck towards the $10k, but I'm feeling a lot less anxious about my sinking funds. It seems like my $10k in a year goal is shot at this point, but I've saved almost $2,000 in five months. I only added like $800 all of last year, so that's still a huge improvement. Thanks for the support and accountability, everybody :)

It's another month in the right direction.  It's good that you're ambitious and want to achieve more than you have done so far, but don't forget that something great (FIRE) can't be achieved easily!  The general consensus on this forum is that the first 10k is the hardest.  My view is to try and keep adding to your N/W, especially over the Christmas period and then to really hammer it in the new year.
Title: Re: Saving to $10K
Post by: marielle on November 17, 2017, 06:39:36 AM
Haven't posted since reaching $0 net worth in August, now I'm at $5,246.

Not too bad considering I moved to another state and had all the associated costs in Sept/Oct. $600 pet deposit, security deposit, washer/dryer, car taxes and registration fees...

Also, I maxed out all tax advantaged accounts this year (no 401k so I funded a 2016 and a 2017 IRA this year). So...I might actually need to open a taxable account? I guess it's not a bad problem to have. My company should be getting a 401k in March 2018. I should be able to fund the 2018 IRA before that easily, so I'll be sitting around waiting for the 401k. Is there any reason to NOT open a taxable account now?
Title: Re: Saving to $10K
Post by: Rimu05 on November 17, 2017, 08:47:37 AM
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 = $-28,503
Credit card = -$ 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 net worth = -$30,271

Car loan = -$9,029.80
Student loan = $-28,388
Credit card = -$ 4,270


401K - $7942
Checking - 221.87
Savings - $3,200.13
Title: Re: Saving to $10K
Post by: DS on November 17, 2017, 09:17:00 AM
Haven't posted since reaching $0 net worth in August, now I'm at $5,246.

Not too bad considering I moved to another state and had all the associated costs in Sept/Oct. $600 pet deposit, security deposit, washer/dryer, car taxes and registration fees...

Also, I maxed out all tax advantaged accounts this year (no 401k so I funded a 2016 and a 2017 IRA this year). So...I might actually need to open a taxable account? I guess it's not a bad problem to have. My company should be getting a 401k in March 2018. I should be able to fund the 2018 IRA before that easily, so I'll be sitting around waiting for the 401k. Is there any reason to NOT open a taxable account now?

Might be a good time to look into this: https://www.bogleheads.org/wiki/Investment_policy_statement

Just as a way to make the decisions easy going forward without having to re-do the math and thinking each time there's extra money.

Might be worth holding onto 5,500 to max the IRA on Jan 1. since we're so close, and then start investing the rest in taxable. Would also keep the tax consequences of a taxable account off your tax return for 2017.
Title: Re: Saving to $10K
Post by: Manchester on November 22, 2017, 05:08:24 AM

22/09/2017: 
Current account - £927.07
Emergency fund - £1.58
Investments - £0
Credit Card debt - -£1,288.72
Payments Due this month - -£1022

Total - -£1,382.07


Strange month for me financially.  Wasn't able to get rid of as much CC debt as I'd have liked, but found out I've been paying into a work place pension for the past two years (very negligible amounts) which has bumped up my 'total'.  Kind of cheating, but I'll take it!

 23/10/2017:

Current Account:  £113.95
Emergency fund:  £1.58
Investments:  £527.21
Credit Card:  -£822.27

TOTAL - -£179.53

So it's an increase of £1,202.54  (which is somewhat inflated by my pension discovery).  Payday comes on the 27th...  I'm meant to be getting a tax break + a refund from HMRC, I've also done around £400 of overtime at work so I'm excited to see what I can do...  Can't see any reason why I shouldn't have a positive net worth this time next month.

I've been trying to scrimp and save a bit this month, but had a few expenses (2 birthdays + I've done quite a bit of christmas shopping).  I'd actually paid off my credit card but another payment came through yesterday which is bad timing for this post.  (I organise a supporters club for football matches - everyone pays for their own ticket but it leaves my account, so I'll have the money paid off in a couple of days).

22/11/2017

Current: £119.37
Emergency Fund:  £1.58
Investments:  569.80
Credit Card:  -£195.70

NET:  495.05

I've added £674.58 this month.

So I have a postive N/W now, which is a nice feeling and a decent milestone for me, mentally.  I'll have my credit card paid off by Monday and then I'm going to focus on getting my e/f up to about £1,000.
Title: Re: Saving to $10K
Post by: fluffmuffin on November 22, 2017, 05:59:14 AM
Hooray for the positive net worth, Manchester!
Title: Re: Saving to $10K
Post by: runbikerun on November 23, 2017, 04:49:16 AM
Up to 6,340 as of today. Holding at that, and maintaining 520 per month, will be challenging over Christmas. That said, for the first time in four years, we're not hosting but are instead guests. What's sad news for my butcher is good news for my wallet. All I have to do is slow-cook spiced beef in Guinness and turn up at my brother's house on time. Well, that and gifts - I'm not in a position to opt out of the gifting process, but luckily we're collectively pretty good at it.
Title: Re: Saving to $10K
Post by: Slanhirn on November 26, 2017, 09:10:26 AM
July 2017 = (£2,877)
August 2017 = (£1,852)  = +£1,025
September 2017 = (£650) = +£1,202
October 2017 = £1,238 = + £1,888
November 2017 = £3,066 = + £1,178
December 2017 = £4,360 = + £1,294

Assets = £19,129
Debts = (£14,769) -> student loans

My stretch goal for £10K NW is March 2018.
Title: Re: Saving to $10K
Post by: Imma on November 26, 2017, 03:22:58 PM
July 2017 = (£2,877)
August 2017 = (£1,852)  = +£1,025
September 2017 = (£650) = +£1,202
October 2017 = £1,238 = + £1,888
November 2017 = £3,066 = + £1,178
December 2017 = £4,360 = + £1,294

Assets = £19,129
Debts = (£14,769) -> student loans

My stretch goal for £10K NW is March 2018.

You're doing really well in such a short period of time! Well done. :)
Title: Re: Saving to $10K
Post by: Slanhirn on November 27, 2017, 05:38:56 AM
July 2017 = (£2,877)
August 2017 = (£1,852)  = +£1,025
September 2017 = (£650) = +£1,202
October 2017 = £1,238 = + £1,888
November 2017 = £3,066 = + £1,178
December 2017 = £4,360 = + £1,294

Assets = £19,129
Debts = (£14,769) -> student loans

My stretch goal for £10K NW is March 2018.

You're doing really well in such a short period of time! Well done. :)

Thanks Imma! :) Been working hard to make some extra money to get off the starting post!

It helps that everyone else here is so supportive and motivational to check in with everyone's progress each month. My biggest insight so far is that FIRE is mostly about waiting so I need to make sure I'm focusing on other things as well (hobbies, work etc). I also discovered YNAB works in the UK recently and that's been a big help - I assumed before that it was US only.
Title: Re: Saving to $10K
Post by: LittleWanderer on November 27, 2017, 09:55:57 AM
Holy crap, I did it!!!!

E-fund: $6508
401K: $3519
Total: $10,027

That doesn't include the money that will hit my 401K on the 30th.  So I'll have a buffer even if my 401K goes down a little.  I will be solidly above $10K going forward now, even with my big dental bills next year.  I can hardly believe it.  I've learned so much from this community in the past few years. 

That said, I hope you guys don't mind if I stick around here for a while.  I need to build up my true emergency fund to $10K.  Right now that $6508 is divided into sub categories ($1000 in my checking as my "zero" balance, $1322 for my car fund, and $4186 as my e-fund.)  So I need to build up that $4186 to $10K.  I'll hop over to the next thread for my net worth, but stick around here until my e-fund is complete.  I like you guys too much to completely leave just yet.  :)
Title: Re: Saving to $10K
Post by: haypug16 on November 27, 2017, 09:59:02 AM
Holy crap, I did it!!!!

E-fund: $6508
401K: $3519
Total: $10,027

That doesn't include the money that will hit my 401K on the 30th.  So I'll have a buffer even if my 401K goes down a little.  I will be solidly above $10K going forward now, even with my big dental bills next year.  I can hardly believe it.  I've learned so much from this community in the past few years. 

That said, I hope you guys don't mind if I stick around here for a while.  I need to build up my true emergency fund to $10K.  Right now that $6508 is divided into sub categories ($1000 in my checking as my "zero" balance, $1322 for my car fund, and $4186 as my e-fund.)  So I need to build up that $4186 to $10K.  I'll hop over to the next thread for my net worth, but stick around here until my e-fund is complete.  I like you guys too much to completely leave just yet.  :)

Congrats!!! Excellent job! I'm sure nobody would mind you sticking around ;)
Title: Re: Saving to $10K
Post by: Manchester on November 30, 2017, 04:22:51 AM
Holy crap, I did it!!!!

E-fund: $6508
401K: $3519
Total: $10,027

That doesn't include the money that will hit my 401K on the 30th.  So I'll have a buffer even if my 401K goes down a little.  I will be solidly above $10K going forward now, even with my big dental bills next year.  I can hardly believe it.  I've learned so much from this community in the past few years. 

That said, I hope you guys don't mind if I stick around here for a while.  I need to build up my true emergency fund to $10K.  Right now that $6508 is divided into sub categories ($1000 in my checking as my "zero" balance, $1322 for my car fund, and $4186 as my e-fund.)  So I need to build up that $4186 to $10K.  I'll hop over to the next thread for my net worth, but stick around here until my e-fund is complete.  I like you guys too much to completely leave just yet.  :)

Congragulations.  The most difficult part is over and you're well on your way to FIRE!
Title: Re: Saving to $10K
Post by: Slanhirn on November 30, 2017, 07:05:19 AM
Holy crap, I did it!!!!

E-fund: $6508
401K: $3519
Total: $10,027

That doesn't include the money that will hit my 401K on the 30th.  So I'll have a buffer even if my 401K goes down a little.  I will be solidly above $10K going forward now, even with my big dental bills next year.  I can hardly believe it.  I've learned so much from this community in the past few years. 

That said, I hope you guys don't mind if I stick around here for a while.  I need to build up my true emergency fund to $10K.  Right now that $6508 is divided into sub categories ($1000 in my checking as my "zero" balance, $1322 for my car fund, and $4186 as my e-fund.)  So I need to build up that $4186 to $10K.  I'll hop over to the next thread for my net worth, but stick around here until my e-fund is complete.  I like you guys too much to completely leave just yet.  :)

Congratulations on making the 10K mark! Good work!!
Title: Re: Saving to $10K
Post by: haypug16 on November 30, 2017, 07:37:53 AM
November 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) Increase of $4,435.25 this month! (monthly average increase of $2,992.17)

Wait is that right? My take home pay this month was about $5,200 and my expenses were about $1,200 (lowest month this year!). I guess that makes sense. All my other money went to increasing net worth plus I get a 3% 401K match.

Year end goal is still to hit $(28K) December expenses will be a bit higher due to the Holidays but I'm hoping to still keep it under $1,800 for the month. I also have my daughters College Tuition to pay for which will decrease the 529 plan balance by about $2,500.  With all that going on $(28k) is reasonable but I am hoping to surpass it at least a little.
Title: Re: Saving to $10K
Post by: Manchester on November 30, 2017, 08:07:02 AM
November 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) Increase of $4,435.25 this month! (monthly average increase of $2,992.17)

Wait is that right? My take home pay this month was about $5,200 and my expenses were about $1,200 (lowest month this year!). I guess that makes sense. All my other money went to increasing net worth plus I get a 3% 401K match.

Year end goal is still to hit $(28K) December expenses will be a bit higher due to the Holidays but I'm hoping to still keep it under $1,800 for the month. I also have my daughters College Tuition to pay for which will decrease the 529 plan balance by about $2,500.  With all that going on $(28k) is reasonable but I am hoping to surpass it at least a little.

Wow, you're smashing it!  You've done so well in less than a year.
Title: Re: Saving to $10K
Post by: haypug16 on November 30, 2017, 08:50:10 AM
Wow, you're smashing it!  You've done so well in less than a year.

Thanks! I just told DH and he's like "wait in one month!" 2017 has been a great year so far. 2018 is going to be even better. I only really got serious about the Triple M lifestyle in the last a few months, once I started to see my numbers go up and FIRE started to look like a real possibility for me, even with a neg NW! I have become a true believer.
Title: Re: Saving to $10K
Post by: Imma on November 30, 2017, 10:38:50 AM
Savings:
July 31:                 €2400
August 30:            €2000
September 27:       €1300
October 30:           €1400
November 30:        €1600

Investments:
July 31:                 €1985.37
August 30:             €2095.00
September 27:       €2253
October 30:           €2461
November 30:        €2622.06


Total:
July 31:                 €4385.37
August 30:             €4095.00
September 27:       €3553
October 30:           €3861
November 30:        €4222.06


This is really motivating to see! I feel like I'm not making a lot of progress because my emergency fund is still not to the level it was early in the summer (due to home maintenance expenses) but in reality the total is almost back to that level. For some reason, I only feel as 'rich' as my emergency fund is, I don't 'feel' the investments. The added bonus is that I save a lot because I feel broke. My savings rate is through the roof lately: €155 to investments, €200 to savings, €200 to health care account (not tracked on here) and €89,50 to a joint savings account (also not tracked here) on an income of €1200 gives a savings rate of 54%! Another €145 goes towards paying off debts (€75 to the principal of the mortgage, €70 to a small tax debt that'll be gone in a few months) which means I only spend 34% of my income (that's €410!) in total. I'm proud of myself now :)  I guess December will be a bit more expensive than usual, but I'll compensate for that in the New Year.
Title: Re: Saving to $10K
Post by: haypug16 on November 30, 2017, 11:33:45 AM
a savings rate of 54%!

Wow 54% savings rate. that's awesome! I can't wait for the day when my debt is paid off and I can put all that money into Savings/Investing. It'll be amazing to not see all that money go out the door to someone else!
Title: Re: Saving to $10K
Post by: Tass on November 30, 2017, 11:44:38 AM
July:     8918.00 / (2648.00) = $6270.00
Aug:     9285.52 / (2397.11) = $6888.41
Sep: 10,964.06 / (1897.11) = $9066.95 (rent now paid on the 1st - this is inflated)
Oct: 11,152.69 / (1343.44) = $9809.25

Nov: 11,336.11 / (643.44) = $10,692.67

Emergency + travel fund: $6506.36
Misc cash: $920.80 (rent due tomorrow)
Roth: $3908.95
Debt: ($643.44)

Change: +$883.42 (36% savings)

As mentioned previously, my reaching $10k is a slight lie due to imminent rent due. However, next week I shall receive the fabled paycheck which will let me make that debt column say ($0) and push me above $10k permanently!

I'll probably poke into the Race to $100k thread in the new year, but also stick around here while I aim for $10k in investments. Spreadsheet currently projects that for next July, although who knows with the market.

Congrats to everyone else on our progress! Imma, your savings rate is seriously impressive. Most people with savings rates over 50% only manage it due to their giant incomes. Your budget must be a thing to behold!
Title: Re: Saving to $10K
Post by: LittleWanderer on November 30, 2017, 12:01:43 PM
Congragulations.  The most difficult part is over and you're well on your way to FIRE!

Ha!  I am very, very, very far from FIRE, but thank you! 

And I agree with the others on your 54% savings rate, Imma.  That's awesome! 
Title: Re: Saving to $10K
Post by: DieHard_772 on November 30, 2017, 01:10:06 PM
Nice job everyone!

Last week I paid off $500 on a credit card, so that was awesome.  Also put an extra couple hundred into my IRA and HSA.

We are slowly inching up towards $15,000 networth, and my own IRAs should reach $10,000 in the next few months (assuming market keeps going up, which I know is a big assumption).
Title: Re: Saving to $10K
Post by: twocatsinaflat on November 30, 2017, 01:14:15 PM
Quote
OCT:
Savings: $453.64
Investments: $225.00
NET WORTH: $678.64

NOV:
Savings: $566.81
Investments: $428.18
NET WORTH: 994.99

DEC:
Savings:$1159.81
NET WORTH: $1,304.58

I broke 1k this month and even with having to pay a hefty price for an illustrator for one of my projects I still stayed above it. A little nervous about the new year completely wiping out all my efforts with me having to pay for my last semester which I estimate will be around $1500 for the 5hrs I'm taking.

Great job to the people who have reached the 10k mark, you're inspiring!
Title: Re: Saving to $10K
Post by: Imma on November 30, 2017, 02:13:57 PM
a savings rate of 54%!

Wow 54% savings rate. that's awesome! I can't wait for the day when my debt is paid off and I can put all that money into Savings/Investing. It'll be amazing to not see all that money go out the door to someone else!

You're doing great as well! I'm saving a relatively large amount of money of my small paycheck, but you are seriously making progress. If you keep going on like this, I think you'll be at 0 before the end of 2018! That's an amazing achievement in such a short period of time.

My budget is in a case study, but there are just two simple tricks to achieve it: cut back on the big things, and cut back on the small things. Just be an overall tightwad ;-). 

We cut back on the big things: we don't own a car and our mortgage is only €300 (of which my fiance pays half). We bought a small old house for €79.500.
As for the small things: I just don't buy stuff. I don't have more clothes than I need and what I buy is mostly second hand. I repair things when they break. I have a pair of winter shoes, a pair of summer shoes, snow boots, running shoes and one pair of heels for occasions. I love making art quilts, but I make them from reclaimed textiles. I eat lots of oatmeal, apples, bananas, rice and seasonal vegetables. We go on holiday, but we'll go to England or Belgium for a weekend, not to Thailand.

I just wish it was always as easy as it sounds .....
Title: Re: Saving to $10K
Post by: haypug16 on November 30, 2017, 02:57:49 PM
@Imma - that's my goal to hit 0 by the end of 2018 (Oct/Nov) I hope then graduate to the next race  in early 2019 (Feb/Mar)

At the beginning of the year prior to finding MMM my monthly spend was $4k and up. I've managed to calm down with the spending and it's just like you say. I don't buy much anymore and if I do by anything it's because I thought long and hard about it. No more mindless consumerism for me. My mortgage is fairly low $1K which I pay half then utilities are like $100 and Health Ins is $250. So after all the fixed Expenses I can live off $500-$1,000 a month fairly easily.
Title: Re: Saving to $10K
Post by: fluffmuffin on December 01, 2017, 07:15:22 AM
Way to go everyone!

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

Another not-great update from me, courtesy of some upcoming travel, Christmas, and continued adventures in vet bills. We think we figured out what was going on, though, and have hopefully fixed the issue. With a switch to $75/bag specialty food...

Looking at the numbers, I'm going to try hard to find the $209 out of the next paycheck that I'd need to get to $4,476.82. That would mean I'd doubled this chunk of my down payment fund in six months. It's not what I was hoping for, but it's still a lot more progress than I've made in the last couple of years.
Title: Re: Saving to $10K
Post by: Rimu05 on December 01, 2017, 08:41:30 AM
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 = $-28,503
Credit card = -$ 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
Title: Re: Saving to $10K
Post by: martyconlonontherun on December 04, 2017, 01:12:17 PM
Background:
Age: 29
"Switched" Careers at 25.
Started taking personal finances 'seriously' around 27 (aka actually saving money, 401k, etc).
Started taking personal finances seriously around 29
Salary gradually up to 65k
Married but don't include house (equity/mortgage) or joint savings in these calculations since she's the boss, it gets messy with house equity/sweat equity ($40k total on a $170k house in May), and it will just be cherry on the top.
-Paid off car but not adding value of that in the calculation since its not worth more than a few Gs and requires maintenance
-4.5 years left of student loan payments I'm aggressively paying off/refinanced in January 17
-15 year mortgage in May
-Not including 529 accounts-Only a few hundred now, but it will be going to Godchildren/my future children so not my money in my eyes.

January 2016-
($45k) Student Debt
($2k) Personal CC Debt
$8k 401k
NW: ($38k)

NW April 2016: ($34K)
July 2016: ($28.4k)
October 2016: ($22.6k)
January 2017: ($20.8k) (Refinanced loan and intransit payments not reflected)
April 2017: ($10.9k)
July 2017: ($5.7k)
August 2017: ($2.5k)
September 2017:(~$1.7k)
October 2017: $1.8k - $32k
November 2017: $4.5K - Investments ~$33.8k.

Stretch goal is to be $10k by 30 (Early January).
Hoping to increase 401k/IRA when the Sloans are paid off and hopefully some more salary. Realistic goal is to retire by 55 unless I really climb the corporate ladder.
Current  Beginning December 2017: $7.9K - Investments ~$37.8k.
Title: Re: Saving to $10K
Post by: Manchester on December 07, 2017, 03:28:31 AM
So I've not had the best 24 hours.  My girlfriend rang me yesterday saying her entire team has been made redundant right in the build up to Christmas.  She'll get a new job soon enough but it means I'll struggle to hit my 3k target by Feb.  My living costs will near enough double.

Going to try and look on the bright side:
- neither of us have any debt (other than our mortgage)
- we're going to speak to our utility providers about a payment holiday
- we'll cancel some subsciptions (gym, Netflix etc)
- we've already bought Christmas presents so no need to worry about that
- most of all, we're in good health! :)

I've been working on an idea for more overtime where I work, which should be coming in place over the next few weeks - once this is in place I'll up my hours to give us a bit more wiggle room.  I'm hoping the experience is a small reality check that get's her more 'onside' in terms of investing for our future.

Title: Re: Saving to $10K
Post by: LittleWanderer on December 07, 2017, 07:31:18 AM
Oh no, I'm sorry, Manchester!  It's good to hear that you have a plan and will be okay though. 
Title: Re: Saving to $10K
Post by: haypug16 on December 07, 2017, 08:51:33 AM
Sorry to hear that Manchester. Good luck with the overtime and with GF getting a new job.
Title: Re: Saving to $10K
Post by: Tass on December 10, 2017, 08:08:44 PM
I have received the paycheck that pushes me over $10k for real. But I feel like I can't quite celebrate until I use it toward the last debt payment, which is currently spending an agonizing amount of time transferring between banks.
Title: Re: Saving to $10K
Post by: haypug16 on December 11, 2017, 08:18:43 AM
Congrats Tass! Pending transactions always seem to take forever when you really want them to clear.
Title: Re: Saving to $10K
Post by: Manchester on December 11, 2017, 09:08:43 AM
I have received the paycheck that pushes me over $10k for real. But I feel like I can't quite celebrate until I use it toward the last debt payment, which is currently spending an agonizing amount of time transferring between banks.

Great news, good to hear.
Title: Re: Saving to $10K
Post by: LittleWanderer on December 11, 2017, 10:51:13 AM
I have received the paycheck that pushes me over $10k for real. But I feel like I can't quite celebrate until I use it toward the last debt payment, which is currently spending an agonizing amount of time transferring between banks.

Ha, I totally understand!  Also, congratulations!!!  See you in the other thread.  :)
Title: Re: Saving to $10K
Post by: zeli2033 on December 11, 2017, 09:45:50 PM
Finally joining this thread instead of lurking on the sidelines. I've been so throughly impressed with the motivation and dedication I've seen in this thread and I'm inspired to work toward my goals. I'm committing to posting here on the journey to a net worth of $10k! For savings, I'm including 401ks, IRAs and cash but I'm not including the car.

12/11/17
Savings: $15,959
Student Loan: ($63,359)
Total: (47,400)
Title: Re: Saving to $10K
Post by: haypug16 on December 12, 2017, 07:11:42 AM
Finally joining this thread instead of lurking on the sidelines. I've been so throughly impressed with the motivation and dedication I've seen in this thread and I'm inspired to work toward my goals. I'm committing to posting here on the journey to a net worth of $10k! For savings, I'm including 401ks, IRAs and cash but I'm not including the car.

12/11/17
Savings: $15,959
Student Loan: ($63,359)
Total: (47,400)

Welcome Zeli!
Title: Re: Saving to $10K
Post by: recklesslysober on December 12, 2017, 10:16:52 AM
October: -$72,100
November: -$69,400

By the end of the year I should be close to halfway out of a negative net worth!
Title: Re: Saving to $10K
Post by: lexde on December 14, 2017, 01:09:54 PM
I’m in! 10k net worth will be my goal for May 2018.

December 14, 2017: +811

(https://uploads.tapatalk-cdn.com/20171214/baa007680631a84a7c95e985af97da2b.jpg)
Title: Re: Saving to $10K
Post by: haypug16 on December 14, 2017, 01:15:28 PM
Welcome Lexde. love the graph! Also great job increasing your net-worth $32K in just over a year!
Title: Re: Saving to $10K
Post by: haypug16 on December 15, 2017, 08:02:25 AM
Mid Month 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)
12/15/2017 $(26,730.89) Increase of $2,180.64 since end of November!

Aside from Christmas gifts, which I am going to stick to under $300 I should be able to have another low spend month and therefore another high net-worth increase. My Year end goal was -$28K (I think, I'll have to double check past posts) I should actually come in closer to -$25K as I have about $2,300 in income expected and only about $900 in expenses for the remainder of the month, as DD was not able to register for classes that she needs so 529 plan will remain the same until summer or fall. -$25K would be amazing. That'll mean I increased my net-worth by nearly $28K just from the end of March.
Title: Re: Saving to $10K
Post by: fluffmuffin on December 15, 2017, 12:36:09 PM
Welcome to all of the new folks, and congratulations to our new graduates! On to bigger and better things!

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

Managed to get over the $4,476.82 double my money mark.
Title: Re: Saving to $10K
Post by: lemonverbena on December 15, 2017, 08:05:56 PM
Jan 2017:
SEP IRA: $225
Car loan: -$7825

Total: -$7600


Late Jan 2017:
SEP IRA: $225
tIRA: $1590
Car loan: -$7825

Total: -$6010


Mid Feb 2017:
SEP IRA: $226
tIRA: $1604
Car loan: -$5593

Total: -$3763

Mar 2017:
SEP IRA: $227
tIRA: $1630
Car loan: -$5593
Roof loan: -$8864

Total: -$12,600

Numbers going way in the wrong direction, but a roof replacement is so overdue and it feels good to be taking care of it. Should have half of it paid off by the end of the month.

Actually, make that by the end of June.

Mid-Apr 2017:
SEP IRA: $231
tIRA: $1624
Car loan: -$5120
Roof loan: -$8864
Emergency fund: $1000

Total: -$11,129

Late-Jun 2017:
SEP IRA: $245
tIRA: $1702
Car loan: -$4645
Roof loan: -$3864
Emergency fund: $1000

Total: -$5,562

Not even close to zero yet, but moving in the right direction again!

Mid-Sep:
SEP IRA: $581
tIRA: $1777
Car loan: $3931
Roof loan: $3649
Emergency fund: $0

Total: -$5,222

My number is basically the same as before, but life happened and now I need to replenish the emergency fund after a trip my spouse took to urgent care turned into an ambulance ride to the ER and a three day stay in the hospital. He now has an incurable autoimmune disease that will require lots of pharmaceuticals for the rest of his life. It has been an adjustment, for sure. So thankful he has good health insurance and we were able to deal with this with our meager emergency fund, but we also really wish we would have signed up for life insurance while he was still healthy!

Mid-Oct:
SEP IRA: $590
tIRA: $1809
Car loan: $3692
Roof loan: $3578
Emergency fund: $505
Hospital bill: $2024

Total: -$6390

Ah ha ha! Silly me. I thought we had paid off the last of the hospital bills. Nope. Another one rolled in. Always something.

Mid-Nov:
SEP IRA: $1395
tIRA: $1826
Car loan: $3452
Roof loan: $3578
Emergency fund: $1000
Hospital bill: $2024, maybe. It's under review.

Total: -$4833

Mid-Dec:
SEP IRA: $1399
tIRA: $1849
Car loan: $3211
Roof loan: $1506
Emergency fund: $1000
Hospital bill: $1774

Total: -$2243
Title: Re: Saving to $10K
Post by: Spruit on December 16, 2017, 05:42:48 PM
Low to middle income, student debt and vet bills... this seems like a place for me ;-)
I've been on the boards for a while now but can do with some extra accountability and motivation, so I'd like to join on the verge of the new year.

30 years old, employed parttime, cohabiting for 8(?) years in a rented house.
Income ~1250 euros / month
debt ~35k (@0.81%)
Savings ~33k
Invested 4.3k

There's some joint savings as well, which I'll leave out of the equation. Partner and I have private accounts and a shared one for pet, car and house-related purchases.

Currently in a repayment plan to myself after buying a new-to-us car with my partner recently. Need to get savings equal to debt asap, so I can resume investing while feeling secure as well.
Plan is to supplement usual income with sidegig over coming weeks.
Title: Re: Saving to $10K
Post by: Imma on December 17, 2017, 04:31:43 AM
Welcome Spruit! :) Another Dutchie here.

You have a LOT of money saved up for someone on your income! Well done.
Title: Re: Saving to $10K
Post by: Tass on December 17, 2017, 10:27:38 PM
The transaction cleared and all $10k of my money is mine! It was so fun to hide the "debt" column of my excel spreadsheet.

I also just switched car insurance to the tune of $35 savings a month. I had a chat with my dad about how far back to cut my coverage, and he recommended state minimum insurance, because it would cover my assets, and I had the pleasure (?) of informing him that actually it wouldn't. (Minimum property damage coverage in CA is $5k.)

Congrats to lexde on breaking zero and everyone else on great progress! Guess I'm graduating this month. I'll be in the 100k thread for a whiiiiile, so come join me soon!
Title: Re: Saving to $10K
Post by: Manchester on December 18, 2017, 03:57:09 AM
Low to middle income, student debt and vet bills... this seems like a place for me ;-)
I've been on the boards for a while now but can do with some extra accountability and motivation, so I'd like to join on the verge of the new year.

30 years old, employed parttime, cohabiting for 8(?) years in a rented house.
Income ~1250 euros / month
debt ~35k (@0.81%)
Savings ~33k
Invested 4.3k

There's some joint savings as well, which I'll leave out of the equation. Partner and I have private accounts and a shared one for pet, car and house-related purchases.

Currently in a repayment plan to myself after buying a new-to-us car with my partner recently. Need to get savings equal to debt asap, so I can resume investing while feeling secure as well.
Plan is to supplement usual income with sidegig over coming weeks.

Welcome to the forum.  You've done extremely well to save up so much.  Where are these savings?  Are they earning any interest?  I'd definitely consider investing a big chunk of it - even in a very secure bond you'll earn more interest than the 0.81% on your student loan.  (A loan with an interest rate below 3% is rarely worth rushing to pay off).

If I was yourself I'd maybe keep 10k in easy access savings for a rainy day, the rest I'd invest.  That 33k could earn you over 1,300 per year - being conservative.
Title: Re: Saving to $10K
Post by: haypug16 on December 18, 2017, 07:29:27 AM
@Tass Can't wait to join you in the next race! Hope to see you there by next Fall :) Who knows maybe sooner!

@Spruit Welcome to the race.
Title: Re: Saving to $10K
Post by: TexasRunner on December 18, 2017, 01:02:45 PM
Allright so I'm in.  Been lurking for a while but need more motivation.

Read through all the MMM blog posts (yes I mean all) from July to November of 2016, and been actively working on finances since then.  Some major items:  flipped the house from 98k (bought December of 2014) to 135k in March of 2017.  The 37k was a huge boon for the net worth.  Was aggressively paying down the mortgage before that as a way of forced savings, now I know better but still better than loose spending.

Changed jobs in January for a 15% raise and am in a new position at the same place that should net another 30% raise or so.  Negotiations are coming up and I plan on being pretty aggressive (my team is extremely good and make the company profit in the millions).

The wife is becoming more spending-controlled but doesn't speak FIRE as clearly as I do thanks to learning things on this forum, otherwise she is all on board.  Am excited to bounce more ideas around as there is a vast span of knowledge on this forum.


Current status:
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. 

Good to keep working on it and seeing the updates in this thread.
Title: Re: Saving to $10K
Post by: Spruit on December 18, 2017, 02:56:05 PM
Welcome to the forum.  You've done extremely well to save up so much.  Where are these savings?  Are they earning any interest?  I'd definitely consider investing a big chunk of it - even in a very secure bond you'll earn more interest than the 0.81% on your student loan.  (A loan with an interest rate below 3% is rarely worth rushing to pay off).

If I was yourself I'd maybe keep 10k in easy access savings for a rainy day, the rest I'd invest.  That 33k could earn you over 1,300 per year - being conservative.

I started saving up my cheap student loans when at Uni (because, why not? They've always been cheaper than interest on savings accounts at the time), but unfortunately had to live off of them when I graduated in midst of the recession... Since then I am replenishing the funds bit by bit, but had some help with that from my family (credit where credit is due!).

The 33k savings are in a savings account, a.k.a. not earning squat. It's a compromise. SO is way more risk averse and we plan to buy a house together in the forseeable future, maybe in the midst of a new recession? Who knows. I agreed to keep my saved-up-debt stable and very liquid in case I have to clear my student debt in order to secure us a mortgage if needed. I'm using the 33k as my cushion for just about everything expensive (dental and health care, unemployment, cars ... ahem), and plan to invest every penny once I've got my debt covered by savings again. I indeed do not intend to rush paying the debt.
Title: Re: Saving to $10K
Post by: Serendip on December 19, 2017, 08:32:32 PM
Hi Everyone,
First post here. Hopefully in the correct space :)

  I am recently back on the financial awareness train (spent 2012-'14 paying off debt hard-core, then '14-'16 saving and traveling). Since December started I have set up some financial goals and am talking with my partner about a 'modified buy-nothing' year as a way to experiment with the way we spend money (he is more comfortable with debt than I am).

This is a big stretch year for me (I don't make much money and it's variable year to year) but here are my GOALS :)

RRSP: Started DEC 17,441.65 -- Goal 23,000
TFSA:                         702.39 -- Goal 9300

I have some other goals too but these are focus ones (have put $260 into RRSP & $650 into TFSA in the last 2 weeks and get another paycheque on Friday), also am paying my tax installment where another $1000 has gone. Basically my entire pay but feels good to have more of a plan.




Title: Re: Saving to $10K
Post by: Spruit on December 20, 2017, 03:24:22 AM
Hi and welcome!
It's great that you already wiped out debt and can begin with a clean slate now. Good luck.
Title: Re: Saving to $10K
Post by: Serendip on December 20, 2017, 03:18:24 PM
Thanks Spruit, yes the debt payment was big for me..everyone has a different comfort level and the interest on my $31,000 student loan was too high for me.
Looking forward to feeling more accountable and seeing how everyone moves forward.

Hi and welcome!
It's great that you already wiped out debt and can begin with a clean slate now. Good luck.
Title: Re: Saving to $10K
Post by: Manchester on December 21, 2017, 04:38:30 AM

22/09/2017: 
Current account - £927.07
Emergency fund - £1.58
Investments - £0
Credit Card debt - -£1,288.72
Payments Due this month - -£1022

Total - -£1,382.07



 23/10/2017:

Current Account:  £113.95
Emergency fund:  £1.58
Investments:  £527.21
Credit Card:  -£822.27

TOTAL - -£179.53


22/11/2017

Current: £119.37
Emergency Fund:  £1.58
Investments:  £569.80
Credit Card:  -£195.70

NET:  £495.05



Because of Christmas, I get paid tomorrow which is usually when I would update this.  I've decided to update my progress a day early so it shows me my real, end of month worth, rather than an overinflated version of it.

I've had quite a difficult month really, my girlfriend was made redundant, my brother was rushed into hospital and has needed a lot of support since, we've had a bereavement in the family and to top it off I've had a cold for 3 weeks now!  Money worries stack up, fortunately we've sorted Christmas out and have a good buffer in our joint accounts which should get us through until my S/O gets another job (which should hopefully be another increase in her wage).  We have plenty of equity in the house, but it will limit our capability to renegotiate our fixed term and reduce our monthly outgoings (something I was banking on to reach £10k by this time next year).

Whilst writing this post I'm thinking two things: firstly, 'suck it up', 'get on with everything' 'life gets you down, it's up to you to get back up and punch it in the face'.  Secondly, you lose loved ones at short notice, you realise how precious every second is.  Do I want to spend 50 years working?  DO I F**k!! 

I feel more determined than ever and despite things not going my way, it's up to me to sort it!  Now my sob stories are over, here are my stats:

Current: £363.26
Emergency Fund: £1.58 (really need to bump this up in the future, a spare grand would come in very handy right now).
Investments: £581.26
Credit Card: £0

NET: £946.10

Increase of £451.05.  Not as much as I would have liked, but another month in the right direction!

Title: Re: Saving to $10K
Post by: Suzanne on December 21, 2017, 04:47:08 AM
to be able to join the thread "Race from 10 to 100K".

Who wants to join? :)

I am in for the race.
Title: Re: Saving to $10K
Post by: TexasRunner on December 21, 2017, 08:29:55 AM
..., my girlfriend was made redundant

If she was made redundant.....  Doesn't that mean you now have a second girlfriend....?

(Kidding :p )

Credit Card: £0

Congrats!!!!

You're actually making pretty good progress.  The snowball effect goes both ways, with debt pushing you back and interest driving you forward.  The snowball is now slowly rolling the other way.  Good thing to have.
Title: Re: Saving to $10K
Post by: Spruit on December 22, 2017, 09:13:59 AM
Last paycheck of the year came in today, so I redirected part of it to the stash right away. We don't do lavish Christmas gifts here, so that helps.

NW progress:

1 december: 4717
22 december: 5937

Too bad next years health care premiums are due before Jan '18, that'll knock ~1k off again. Still, progress :)
Title: Re: Saving to $10K
Post by: Serendip on December 22, 2017, 09:49:28 AM
[
I've had quite a difficult month really, my girlfriend was made redundant, my brother was rushed into hospital and has needed a lot of support since, we've had a bereavement in the family and to top it off I've had a cold for 3 weeks now!  Money worries stack up, fortunately we've sorted Christmas out and have a good buffer in our joint accounts which should get us through until my S/O gets another job (which should hopefully be another increase in her wage).  We have plenty of equity in the house, but it will limit our capability to renegotiate our fixed term and reduce our monthly outgoings (something I was banking on to reach £10k by this time next year).

Whilst writing this post I'm thinking two things: firstly, 'suck it up', 'get on with everything' 'life gets you down, it's up to you to get back up and punch it in the face'.  Secondly, you lose loved ones at short notice, you realise how precious every second is.  Do I want to spend 50 years working?  DO I F**k!! 


Sorry to hear of your loss and the hard times this month Manchester.
 It's true, grief helps us prioritize how we spend our days and the way we impact those around us while we are here. Good job on making personal progress and being there for your family.
Title: Re: Saving to $10K
Post by: Cassini on December 23, 2017, 05:09:46 AM
Long time lurker joining to post on this thread! You are all doing so well!

My boyfriend and I want to focus on saving for a house deposit in 2018 so our goal is to save £12,000 in 2018, which is doable but tough.

Cash savings: £2128
Investments: £3514
Credit Card: -£2303  (currently at 0% interest for another year so going to pay off slowly)

Net Worth: £3340

I'm not including our student loans (circa £6k), or pensions (£18k) here. Student Loans are at 1.25% and come off our pay automatically as we live in the UK. Don't see much point to pay more just now!

Happy Christmas/Holidays/New Year, everyone!

Title: Re: Saving to $10K
Post by: Slanhirn on December 23, 2017, 08:37:18 AM
Happy Holidays Everyone!

July 2017 = (£2,877)
August 2017 = (£1,852)  = +£1,025
September 2017 = (£650) = +£1,202
October 2017 = £1,238 = + £1,888
November 2017 = £3,066 = + £1,178
December 2017 = £4,360 = + £1,294
January 2018 = £6,895 = + £2,535

Assets = £21,222
Student loans = (£14,327)

My stretch goal for £10K NW is March 2018.

Bumper month this month! I tightened up on some more expenses, the rose quite a lot as well which was a nice plus :). I've pretty much paid for my Christmas expenses so don't foresee this figure changing.
Title: Re: Saving to $10K
Post by: fluffmuffin on December 26, 2017, 07:23:13 AM
Sounds like people are doing a great job of not letting the holidays knock them off track--love all of the end-of-the year progress reports!

Manchester, I'm sorry this has been such a tough month. I hope that your girlfriend finds a new job soon and that your brother is doing better. You're doing a great job of keeping the financial focus. Sometimes I think it's easier to let all the little things go when a big thing comes along that might knock you for a loop. Awesome job keeping focused on the long-term goals.
Title: Re: Saving to $10K
Post by: Imma on December 26, 2017, 10:56:37 AM
Welcome Cassini!

I'm sorry for your loss, Manchester. You're going through a rough time, but I'm glad to hear it motivates you to make the right decisions. I hope 2018 will be a better year for you.

Spruit, I think this is the first year my health care premium is due Dec 27 and not Jan 1st! This will definitely lower my end-of-year net worth (is this a Mustachian People Problem? I think so .... ) . Still, paying it all at once gives me about 3% discount which is a lot more than the interest on my savings account. I have a separate savings account for health care costs that I don't track in this thread. I haven't spent a lot of money this holiday season, I'm just waiting for my salary to be paid so I can calculate my end-of-year net worth. It's a good tradition in this country that employers pay December's wages before Christmas (normally, most employers pay once a month around the 26th) but sadly my employer always pays on the very last working day of the month so I don't expect it to be different this month.
Title: Re: Saving to $10K
Post by: zeli2033 on December 26, 2017, 04:18:37 PM
Forgot to update on 12/15 so updating a bit late. Will hopefully get on a cadence of updating twice monthly shortly after receiving income and money has been sent off to savings/debts.

12/11/17: (47,400)
12/26/17: (42,469)

Hoping to finish 2017 with Net Worth in the negative 30s...even if it's -39,999, I'll be happy! But that requires one of us getting a bonus so might not be realistic. Either way, progress is awesome to see.
Title: Re: Saving to $10K
Post by: LittleWanderer on December 27, 2017, 09:05:19 AM
End of December update:

Emergency fund: $4440.  (+$254)

End of 2017:
I started the year with around $1000 and am finishing with $11,208.  So my savings rate was somewhere in the 30-35% ballpark.  I'm happy with that! 
Title: Re: Saving to $10K
Post by: martyconlonontherun on December 29, 2017, 08:23:41 AM
Background:
Age: 29
"Switched" Careers at 25.
Started taking personal finances 'seriously' around 27 (aka actually saving money, 401k, etc).
Started taking personal finances seriously around 29
Salary gradually up to 65k, 68k as of End of 2017, 75k at beginning of CY18
Married but don't include house (equity/mortgage) or joint savings in these calculations since she's the boss, it gets messy with house equity/sweat equity ($40k total on a $170k house in May 17), and it will just be cherry on the top.
-Paid off car but not adding value of that in the calculation since its not worth more than a few Gs and requires maintenance
-4.5 years left of student loan payments I'm aggressively paying off/refinanced in January '17
-15 year mortgage in May '17
-Not including 529 accounts-Only a few hundred now, but it will be going to Godchildren/my future children so not my money in my eyes.

January 2016-
($45k) Student Debt
($2k) Personal CC Debt
$8k 401k
NW: ($38k)

NW April 2016: ($34K)
July 2016: ($28.4k)
October 2016: ($22.6k)
January 2017: ($20.8k) (Refinanced loan and intransit payments not reflected)
April 2017: ($10.9k)
July 2017: ($5.7k)
August 2017: ($2.5k)
September 2017:(~$1.7k)
October 2017: $1.8k - $32k
November 2017: $4.5K - Investments ~$33.8k.
December 2017: $7.9K - Investments ~$37.8k.

Stretch goal is to be $10k by 30 (Early January).
Hoping to increase 401k/IRA when the Sloans are paid off and hopefully some more salary. Realistic goal is to retire by 55 unless I really climb the corporate ladder.
Current  Beginning  January: $11.4K - Investments ~$39.6k.

See you all on the flip.
Title: Re: Saving to $10K
Post by: TexasRunner on December 29, 2017, 08:29:47 AM
Allright so I'm in.  Been lurking for a while but need more motivation.

Read through all the MMM blog posts (yes I mean all) from July to November of 2016, and been actively working on finances since then.  Some major items:  flipped the house from 98k (bought December of 2014) to 135k in March of 2017.  The 37k was a huge boon for the net worth.  Was aggressively paying down the mortgage before that as a way of forced savings, now I know better but still better than loose spending.

Changed jobs in January for a 15% raise and am in a new position at the same place that should net another 30% raise or so.  Negotiations are coming up and I plan on being pretty aggressive (my team is extremely good and make the company profit in the millions).

The wife is becoming more spending-controlled but doesn't speak FIRE as clearly as I do thanks to learning things on this forum, otherwise she is all on board.  Am excited to bounce more ideas around as there is a vast span of knowledge on this forum.


Current status:
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. 

Good to keep working on it and seeing the updates in this thread.
Update at end of December....   Not bad considering 1/2 of 1 month.  :)

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).

This thread is great.  Helped me do significantly less spending (and cut out all the unnecessary BS) for two weeks to post this.

I also want to accelerate my goal from September to August....  :)

Keep it up everybody.
Title: Re: Saving to $10K
Post by: lexde on December 29, 2017, 08:59:55 AM
I’m in! 10k net worth will be my goal for May 2018.

December 14, 2017: +811

(https://uploads.tapatalk-cdn.com/20171214/baa007680631a84a7c95e985af97da2b.jpg)
12/29/2017: $2,243
Title: Re: Saving to $10K
Post by: zeli2033 on December 29, 2017, 09:27:15 AM
Last December update:

12/11/17: (47,400)
12/26/17: (42,469)
12/29/17: (39,190)

Assets [401ks, IRAs, Cash]: 24,371
Student Loan: (63,561) Ouch. Can't wait for later in 2018 when we can start obliterating this...

On the bright side, it's so nice to see the first -30 overall :).
Title: Re: Saving to $10K
Post by: Imma on December 29, 2017, 11:02:36 AM
Savings:
July 31:                 €2400
August 30:            €2000
September 27:       €1300
October 30:           €1400
November 30:        €1600
December 29:        €1100

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)

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 )

My boss made a mistake and only paid me €490 instead of €1230. This is also an expensive month with a lot of health costs. My employer's mistake will be corrected in the new year, but right now I'm really glad I have savings!

Goals for 31 December 2018:

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

As long as the market doesn't crash, I'll probably hit the investment goal. I automatically transfer €155/month = €1860/year. I hope to be able to reach the savings goal as well. This depends on the amount of expensive fun things I'm going to do next year, as well as unexpected health and home maintenance costs and the amount of overtime I'll be able to work. 
Title: Re: Saving to $10K
Post by: haypug16 on December 29, 2017, 11:17:16 AM
December 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) +4,487.40 increase from last month!

Payday was today instead of the 31st so I'm updating early after paying my bills. I don't expect to spend any money over the next couple days as I'm sick and spending most of my time in bed. Anyway, December was another great month. I managed to keep my holiday spending in check as well as all others. My original Year end goal was -$28K I believe and I surpassed that. My average monthly increase has been over $3K since joining this challenge at the end of March. I am going to make this my new goal (it was $2,500)

Great job everyone else. Here's to an even better 2018!
Title: Re: Saving to $10K
Post by: TexasRunner on December 29, 2017, 12:48:29 PM
...
12/31/2017 $(24,424.13) +4,487.40 increase from last month!
...
Great job everyone else. Here's to an even better 2018!

Well Done!!!  I think you beat me for December.  :)
Title: Re: Saving to $10K
Post by: Moonwaves on December 29, 2017, 01:55:37 PM
BoI savings a/c: 18.87
DiBa ETF: 355.70
CmzBank savings a/c: 350.00
Total:  724.57

BoI savings a/c: 48.91
DiBa ETF: 456.37
CmzBank savings a/c: 500.00
Total:  1,005.28
Title: Re: Saving to $10K
Post by: Imma on December 29, 2017, 03:25:25 PM
BoI savings a/c: 18.87
DiBa ETF: 355.70
CmzBank savings a/c: 350.00
Total:  724.57

BoI savings a/c: 48.91
DiBa ETF: 456.37
CmzBank savings a/c: 500.00
Total:  1,005.28

That's an increase of almost 40% !!!!! Well done.
Title: Re: Saving to $10K
Post by: Moonwaves on December 30, 2017, 04:13:53 AM
BoI savings a/c: 18.87
DiBa ETF: 355.70
CmzBank savings a/c: 350.00
Total:  724.57

BoI savings a/c: 48.91
DiBa ETF: 456.37
CmzBank savings a/c: 500.00
Total:  1,005.28

That's an increase of almost 40% !!!!! Well done.
Thanks! Hate to admit it but part of the reason for the big increase is that when I was transferring money to my Commerzbank savings, I copied the details from last time but forgot to change the amount and transferred more than I had planned to. But instead of transferring it back, I left it and just had a very tight few weeks at the end of November. I still can't quite believe that I have actually saved a thousand. I think the invested money doesn't really feel real, as it's intended to just sit there earning for a long time. But so nice that my "doesn't feel real" money is now money I have invested and isn't money I owe on a credit card. :)
Title: Re: Saving to $10K
Post by: fluffmuffin on December 30, 2017, 12:44:53 PM
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

Put over $300 from a paycheck into the house fund for the first time in what feels like forever. Glad I could end 2017 on that note, and I cannot wait to see a number that starts with a 5! Grateful for all of the support and accountability in this thread. Y'all are my people.
Title: Re: Saving to $10K
Post by: DieHard_772 on December 30, 2017, 07:25:36 PM
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

Put over $300 from a paycheck into the house fund for the first time in what feels like forever. Glad I could end 2017 on that note, and I cannot wait to see a number that starts with a 5! Grateful for all of the support and accountability in this thread. Y'all are my people.

Nice job, and Happy New Year
Title: Re: Saving to $10K
Post by: LittleWanderer on December 31, 2017, 08:28:38 AM
Grateful for all of the support and accountability in this thread. Y'all are my people.

Agreed, I love this thread!  :)  I'm posting in the race to 100K thread too, but dang those people save A LOT and quickly!  I imagine I'll become the resident old lady over there.  I love seeing the updates and progress here.  We're all kicking ass! 
Title: Re: Saving to $10K
Post by: DieHard_772 on December 31, 2017, 02:05:38 PM
Grateful for all of the support and accountability in this thread. Y'all are my people.

Agreed, I love this thread!  :)  I'm posting in the race to 100K thread too, but dang those people save A LOT and quickly!  I imagine I'll become the resident old lady over there.  I love seeing the updates and progress here.  We're all kicking ass!

No kidding, it's great to have a thread of people at a pace that I can do myself at this point...
Title: Re: Saving to $10K
Post by: Manchester on January 01, 2018, 07:15:10 AM
Thanks for all your kind messages to my previous post.

Happy new year everyone.  I hope 2018 is happy and prosperous for all of you.
Title: Re: Saving to $10K
Post by: runbikerun on January 04, 2018, 01:00:16 AM
Up to 6,860 as of December 31st. My credit card bill is a little higher than I'd like, but not anywhere near high enough to be a problem. I have ten all-day Saturday lectures in twelve weeks this spring, so I won't be doing much socialising (or indeed anything except working, studying, cooking and sleeping), which should bring me back to normal just in time for the three weddings (and probably three stag nights/weekends) I'll be attending this year. At least two of the weddings (and hopefully two of the stags) will be in the city I live in, though, so that at least limits expenses.
Title: Re: Saving to $10K
Post by: Imma on January 04, 2018, 02:42:17 AM
I got paid! My boss made a mistake and only paid me €490 instead of €1230 at the end of December, but I received the remaining amount today.


Savings:
July 31:                 €2400
August 30:            €2000
September 27:       €1300
October 30:           €1400
November 30:        €1600
December 29:        €1100
January 4:             €1600

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)
January 4:             €2805.67

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 )
January 4:             €4405,67


Goals for 31 December 2018:

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

As long as the market doesn't crash, I'll probably hit the investment goal. I automatically transfer €155/month = €1860/year. I hope to be able to reach the savings goal as well. This depends on the amount of expensive fun things I'm going to do next year, as well as unexpected health and home maintenance costs and the amount of overtime I'll be able to work.
Title: Re: Saving to $10K
Post by: Manchester on January 12, 2018, 05:26:52 AM
I got paid! My boss made a mistake and only paid me €490 instead of €1230 at the end of December, but I received the remaining amount today.


Savings:
July 31:                 €2400
August 30:            €2000
September 27:       €1300
October 30:           €1400
November 30:        €1600
December 29:        €1100
January 4:             €1600

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)
January 4:             €2805.67

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 )
January 4:             €4405,67


Goals for 31 December 2018:

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

As long as the market doesn't crash, I'll probably hit the investment goal. I automatically transfer €155/month = €1860/year. I hope to be able to reach the savings goal as well. This depends on the amount of expensive fun things I'm going to do next year, as well as unexpected health and home maintenance costs and the amount of overtime I'll be able to work.

All looks good!  Good that you got paid in the end.  Hoping you get to work as much overtime as you'd like this year!
Title: Re: Saving to $10K
Post by: Imma on January 12, 2018, 07:11:17 AM
Thanks! Well, the first unexpected expense of 2018 has come up already: my bike was stolen. But the good news is I've already got 40 hours of overtime scheduled over the next couple of months and we'll probably get a nice tax return too. Due to my s/o's work, we're also skipping our holiday together.
Title: Re: Saving to $10K
Post by: Bearblastbeats on January 12, 2018, 07:19:43 AM
does my $12k in my 401k count?
Title: Re: Saving to $10K
Post by: haypug16 on January 12, 2018, 07:53:27 AM
Happy New year

January mid-month 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)
1/12/2018 $(23,417.43) Increase of $1006.70 from previous month


Got paid a few days early due to the Monday holiday. Not a bad month but my goal is $3K increase for the month and I'm $500 shy of hitting the mid month goal of $1500. I just have to try to work some more hours in my Part-time job. I really should take advantage of that since it will be coming to an end by next month.

@Bearblastbeats - You can use the race anyway you like. Some people track overall Net Worth and others just track individual accounts. It's up to you.
Title: Re: Saving to $10K
Post by: zeli2033 on January 13, 2018, 08:38:38 AM
Mid-month update also due to early payday:

12/11/17: (47,400)
12/26/17: (42,469)
12/29/17: (39,190)
1/13/18: (35,094)

Assets [401ks, IRAs, Cash]: 28,518
Student Loan: (63,612)

This is a big month for us. I started contributing the max to my 401K and DH is transitioning to another company this month so there will be some additional cash coming in that we'll be throwing to savings. We're pushing to max our Roths for 2017/2018 asap so we can turn our focus to the student loan for the rest of the year.
Title: Re: Saving to $10K
Post by: Imma on January 13, 2018, 08:49:14 AM
Well done Zeli2033! You are making huge progress and it sounds like 2018 is going to be a good year for you guys!

@Bearblastbeats You set your own goals. I don't personally track my net worth, because a large amount of my NW is in my house that has gone up massively in value since we bought it. I only track my investments and my 'leftover cash' savings account, not the accounts with money reserved for certain future expenses.
Title: Re: Saving to $10K
Post by: zeli2033 on January 13, 2018, 09:25:13 AM
Thank you, Imma! You all keep me so motivated!
Title: Re: Saving to $10K
Post by: Spruit on January 13, 2018, 12:48:50 PM
But the good news is ... Due to my s/o's work, we're also skipping our holiday together

Yay? Positive side to everything, I guess...

I said yes to a gig that I don't really have time for, but could probably just squeeze in between my tasks for my "real" job. It does bring about 20% of my regular income as extra cash, but there goes my weekend. Not sure if I'm being smart of stupid here.
Sometimes I think I'm just too lazy or impatient for that whole FI thing, I just love my free time so much. I want it NOW. Hard to really gain a high income with such an attitude.



Title: Re: Saving to $10K
Post by: Rimu05 on January 13, 2018, 04:00:33 PM
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 = $-28,503
Credit card = -$ 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
Title: Re: Saving to $10K
Post by: Imma on January 14, 2018, 06:02:41 AM
But the good news is ... Due to my s/o's work, we're also skipping our holiday together

Yay? Positive side to everything, I guess...

I said yes to a gig that I don't really have time for, but could probably just squeeze in between my tasks for my "real" job. It does bring about 20% of my regular income as extra cash, but there goes my weekend. Not sure if I'm being smart of stupid here.
Sometimes I think I'm just too lazy or impatient for that whole FI thing, I just love my free time so much. I want it NOW. Hard to really gain a high income with such an attitude.

Well, not exactly yay, but I'm good at looking at the positive side of things. My fiance likes to spend when we're on holiday, so we compromise by eating out for breakfast / lunch more often than I'd like. Not going on holiday will save us a LOT of money. Plus the reason we're not going is because he has some awesome opportunities lined up, it's not like he's going to sit in an office for the entire summer. But we're going to take a lot of day trips this year instead and I'm trying to find good deals on those. We're going to get free Efteling tickets from Airmiles (we live close, so no travel costs either) and go to lots of free gigs and festivals this year.

I know what you feel like. I value my free time a lot, too. We both work part time (in my case, for health reasons, in his case, so he can work in his own business) and I know it's going to take me a lot longer to become FI. On the other hand, I consider myself to be partially retired already and it feels like such a luxury to have so much free time.
Title: Re: Saving to $10K
Post by: Zamboni on January 14, 2018, 06:39:47 AM
@lexde That is a great graph! Well done!
Title: Re: Saving to $10K
Post by: lexde on January 14, 2018, 07:36:25 AM
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
Title: Re: Saving to $10K
Post by: lexde on January 14, 2018, 07:37:05 AM
@lexde That is a great graph! Well done!
Thanks! I use YNAB to track everything, and really like it's NW graph feature. :-)
Title: Re: Saving to $10K
Post by: Manchester on January 15, 2018, 04:30:52 AM
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 = $-28,503
Credit card = -$ 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

Good going.  I can imagine adding $1k into your 401k is really exciting. 

What are the interest rates on your various accounts and loans?  Savings/Car/Student/Credit Card. 

I know the credit card is 0%.  When does that expire and what is the rate moving forward.  It might be worth starting to pay it down now to avoid a big lump sum having to go out when the 0% period expires (depending on interest rates and your ability to pay it off in one go).
Title: Re: Saving to $10K
Post by: Rimu05 on January 15, 2018, 07:12:41 PM
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 = $-28,503
Credit card = -$ 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

Good going.  I can imagine adding $1k into your 401k is really exciting. 

What are the interest rates on your various accounts and loans?  Savings/Car/Student/Credit Card. 

I know the credit card is 0%.  When does that expire and what is the rate moving forward.  It might be worth starting to pay it down now to avoid a big lump sum having to go out when the 0% period expires (depending on interest rates and your ability to pay it off in one go).

Savings yields only 1% but I am building an emergency fund here.

For the student loans I have three balances at 6.55% and the rest at 3.5%
Car loan 2.79%
CC is at 0% until April but in a very unmustachian way, planning to open another credit card and use a free balance transfer to transfer to new credit card and let it sit at 0% for the year. On that note, don't use the CC much, I should take it off amazon though because I add the occasional item I need there.

Title: Re: Saving to $10K
Post by: Manchester on January 16, 2018, 02:46:19 AM







Savings yields only 1% but I am building an emergency fund here.

For the student loans I have three balances at 6.55% and the rest at 3.5%
Car loan 2.79%
CC is at 0% until April but in a very unmustachian way, planning to open another credit card and use a free balance transfer to transfer to new credit card and let it sit at 0% for the year. On that note, don't use the CC much, I should take it off amazon though because I add the occasional item I need there.


Good stuff.  What's your goal for the emergency fund?  Obviously it would make sense to prioritise the 6.55% loan first.  I think your plan with the CC is alright as well, just make sure you have got a set goal to pay it off... It might affect your credit rating if you have numerous cards to your name.
Title: Re: Saving to $10K
Post by: fluffmuffin on January 16, 2018, 06:51:43 AM
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

The jump is due to a one-time windfall. Only $250 is budgeted savings from a paycheck; it could have been higher but I wanted to divert some extra money into the I'm In Two Weddings This Summer fund. Exciting number, though.

@Rimu05, just having multiple cards shouldn't negatively affect your credit score. Having more than one card can actually help your rating, since the higher the amount of unused credit you have available, the better it usually is for your score. So opening another card isn't necessarily a bad thing, as long as you don't plan to add any additional charges and don't have a lot of other credit inquiries at the same time from opening other lines of credit (mortgage, car loan, etc.). You just want to be absolutely sure that you have a plan in place to pay it off before you start getting hit with any interest, as I'm sure you know.
Title: Re: Saving to $10K
Post by: Rimu05 on January 16, 2018, 10:07:15 AM







Savings yields only 1% but I am building an emergency fund here.

For the student loans I have three balances at 6.55% and the rest at 3.5%
Car loan 2.79%
CC is at 0% until April but in a very unmustachian way, planning to open another credit card and use a free balance transfer to transfer to new credit card and let it sit at 0% for the year. On that note, don't use the CC much, I should take it off amazon though because I add the occasional item I need there.


Good stuff.  What's your goal for the emergency fund?  Obviously it would make sense to prioritise the 6.55% loan first.  I think your plan with the CC is alright as well, just make sure you have got a set goal to pay it off... It might affect your credit rating if you have numerous cards to your name.

My goal for the emergency fund is 10K. I had a series of emergencies late 2016 to mid 2017 and 5K simply wasn't enough. I'd rather not have to put emergencies on my credit card again. It's not to say these emergencies will happen again, but I'd like to not frown at not having it.

I only have two credit cards, one I never use and keep it for the history only.

Title: Re: Saving to $10K
Post by: lexde on January 17, 2018, 12:45:25 PM







Savings yields only 1% but I am building an emergency fund here.

For the student loans I have three balances at 6.55% and the rest at 3.5%
Car loan 2.79%
CC is at 0% until April but in a very unmustachian way, planning to open another credit card and use a free balance transfer to transfer to new credit card and let it sit at 0% for the year. On that note, don't use the CC much, I should take it off amazon though because I add the occasional item I need there.


Good stuff.  What's your goal for the emergency fund?  Obviously it would make sense to prioritise the 6.55% loan first.  I think your plan with the CC is alright as well, just make sure you have got a set goal to pay it off... It might affect your credit rating if you have numerous cards to your name.

My goal for the emergency fund is 10K. I had a series of emergencies late 2016 to mid 2017 and 5K simply wasn't enough. I'd rather not have to put emergencies on my credit card again. It's not to say these emergencies will happen again, but I'd like to not frown at not having it.

I only have two credit cards, one I never use and keep it for the history only.
Does your “history” card have a 10k limit? You can always just keep that as a “nuclear emergency” “fund” and if you do have to charge to the card, you can look into a Chase Slate or other balance transfer card when the time comes to pay it off with no interest over 12-18 months. Not ideal, but it’s out there.
Title: Re: Saving to $10K
Post by: recklesslysober on January 17, 2018, 04:22:32 PM
December: -$62,200
January: -$60,000

I'm up to $24K invested.. hopefully will hit the $25K mark next month! 1/4 of the way to the first $100K.
Title: Re: Saving to $10K
Post by: Trifele on January 18, 2018, 05:10:29 AM
December: -$62,200
January: -$60,000

I'm up to $24K invested.. hopefully will hit the $25K mark next month! 1/4 of the way to the first $100K.

Nice job RS!  Sounds like two milestones -- crossing -60 on the total NW and soon 25k on the investments? Nice!
Title: Re: Saving to $10K
Post by: Moonwaves on January 18, 2018, 08:30:43 AM
BoI savings a/c: 48.91
DiBa ETF: 456.37
CmzBank savings a/c: 500.00
Total:  1,005.28
BoI savings a/c: 54.00
DiBa ETF: 514.76
CmzBank savings a/c: 500.01 (1c interest earned. Yay? :) )
Total:  1,068.77

Not a big change here but I am sort of starting to feel like I'm getting somewhere because my annual expenses and travel accounts (which I don't count here, since they are just holding accounts for irregular expenses) have almost €1,000 in them now. And I'm still waiting on almost €1,500 worth of invoices to be paid, with nothing else left to pay off so as soon as I get that money, it will all be moving into various savings accounts.
Title: Re: Saving to $10K
Post by: Spruit on January 19, 2018, 09:49:27 AM
Every penny counts, right? Even 0.01 euros ;)
I get so impatient in between pay checks. Still a good week to go before salary is in again. Glad I now get 30 euros more than earlier, I can certainly use these little wind falls.
Title: Re: Saving to $10K
Post by: haypug16 on January 19, 2018, 11:10:13 AM
@Spruit - Same here. Payday is so exciting. I get to update all my numbers and see what kind of progress I've made and then it's all done and I have to wait another 2 weeks to do it all again. In the interim I try to just focus on not spending so that I don't undo a bunch of work. 
Title: Re: Saving to $10K
Post by: Tass on January 19, 2018, 04:38:42 PM
I get so impatient in between pay checks. Still a good week to go before salary is in again.

I feel this way too, and then I scold myself for wishing time would go faster instead of pursuing worthwhile things with the time... The point of the money is the freedom it brings, right? So what do we want to invest our freedom in?

But sometimes this throws me into existential spirals about my direction in life, so ya know, YMMV.
Title: Re: Saving to $10K
Post by: zeli2033 on January 20, 2018, 06:57:06 AM
Spruit/haypug16/Tass - Have to echo your sentiments exactly. Payday is my Christmas (or insert chosen holiday here). Each new paycheck means getting to take some much needed me time with my spreadsheets to allocate funds, tweak projections and dream about plan for the FI future.

This last week, the semimonthly holidays came early! DH got a final check in the transition between old company and new company so we were able to allocate a windfall to savings before our next anticipated paycheck.

12/11/17: (47,400)
12/26/17: (42,469)
12/29/17: (39,190)
1/13/18: (35,094)
1/20/18: (30,645)

Assets [401ks, IRAs, Cash]: 33,211
Student Loan: (63,857)

Watching the interest on the Student Loans hike up is a bit of a bummer but in the grand scheme of things, it's a small blip on the radar and won't be forever. Have to remind myself that perspective around goals is key: We'll be done maxing out our 2018 Roth IRAs in ~March so all the additional monthly savings will then go straight to the loans.
Title: Re: Saving to $10K
Post by: mountain mustache on January 21, 2018, 07:55:11 PM
Currently I'm sitting at $3k in my savings account
My goal is 5k in savings as an emergency fund. I have some medical bills coming up, and I'm hoping I won't have to take from savings, but it will be nice to have it.
After getting 5k in emergency, my goal is to put at least $1k into an IRA by the end of the year. I'm young, and haven't done any long term savings before, so it will be a good start.
Title: Re: Saving to $10K
Post by: Manchester on January 22, 2018, 05:22:40 AM

22/09/2017: 
Current account - £927.07
Emergency fund - £1.58
Investments - £0
Credit Card debt - -£1,288.72
Payments Due this month - -£1022

Total - -£1,382.07



 23/10/2017:

Current Account:  £113.95
Emergency fund:  £1.58
Investments:  £527.21
Credit Card:  -£822.27

TOTAL - -£179.53


22/11/2017

Current: £119.37
Emergency Fund:  £1.58
Investments:  £569.80
Credit Card:  -£195.70

NET:  £495.05



21/12/2017

Current: £363.26
Emergency Fund: £1.58
Investments: £581.26
Credit Card: £0

NET: £946.10



It was an alright month for me overall.  I've managed to be more frugal which is why my current account is quite high.  I'd have saved more but had to cover some of my girlfriends bills now that she's out of work.  I was going to put a big chunk in my EF but seems counter productive as I'll likely have to cover more bills until she gets another job (so I'm effectively using my EF now?). 

I also have an investment opportunity coming up which I'm tempted to stick some money into (even if it's a modest amount). 

22/01/2018

Current: £940.82
Emergency Fund: £1.58
Investments: £659.59
Credit Card: £0


NET: £1,601.99


It's an increase of £655.89 which is better than December and also good considering the time difference between December's pay and January's.  Hopefully I'll keep going in the right direction whilst my SO is out of work.  Don't want to rack up credit card debt again as it makes a huge difference.
Title: Re: Saving to $10K
Post by: lemonverbena on January 24, 2018, 09:03:37 PM
Jan 2017:
SEP IRA: $225
Car loan: -$7825

Total: -$7600


Late Jan 2017:
SEP IRA: $225
tIRA: $1590
Car loan: -$7825

Total: -$6010


Mid Feb 2017:
SEP IRA: $226
tIRA: $1604
Car loan: -$5593

Total: -$3763

Mar 2017:
SEP IRA: $227
tIRA: $1630
Car loan: -$5593
Roof loan: -$8864

Total: -$12,600

Numbers going way in the wrong direction, but a roof replacement is so overdue and it feels good to be taking care of it. Should have half of it paid off by the end of the month.

Actually, make that by the end of June.

Mid-Apr 2017:
SEP IRA: $231
tIRA: $1624
Car loan: -$5120
Roof loan: -$8864
Emergency fund: $1000

Total: -$11,129

Late-Jun 2017:
SEP IRA: $245
tIRA: $1702
Car loan: -$4645
Roof loan: -$3864
Emergency fund: $1000

Total: -$5,562

Not even close to zero yet, but moving in the right direction again!

Mid-Sep:
SEP IRA: $581
tIRA: $1777
Car loan: $3931
Roof loan: $3649
Emergency fund: $0

Total: -$5,222

My number is basically the same as before, but life happened and now I need to replenish the emergency fund after a trip my spouse took to urgent care turned into an ambulance ride to the ER and a three day stay in the hospital. He now has an incurable autoimmune disease that will require lots of pharmaceuticals for the rest of his life. It has been an adjustment, for sure. So thankful he has good health insurance and we were able to deal with this with our meager emergency fund, but we also really wish we would have signed up for life insurance while he was still healthy!

Mid-Oct:
SEP IRA: $590
tIRA: $1809
Car loan: $3692
Roof loan: $3578
Emergency fund: $505
Hospital bill: $2024

Total: -$6390

Ah ha ha! Silly me. I thought we had paid off the last of the hospital bills. Nope. Another one rolled in. Always something.

Mid-Nov:
SEP IRA: $1395
tIRA: $1826
Car loan: $3452
Roof loan: $3578
Emergency fund: $1000
Hospital bill: $2024, maybe. It's under review.

Total: -$4833

Mid-Dec:
SEP IRA: $1399
tIRA: $1849
Car loan: $3211
Roof loan: $1506
Emergency fund: $1000
Hospital bill: $1774

Total: -$2243

Mid-Jan:
SEP IRA: $2524
tIRA: $1978
Car loan: $2971
Roof loan: $1352
Emergency fund: $1000
Hospital bill: $1523

Total: -$344 Getting close to zero!!!
Title: Re: Saving to $10K
Post by: Manchester on January 25, 2018, 03:18:40 AM
Mid-Jan:
SEP IRA: $2524
tIRA: $1978
Car loan: $2971
Roof loan: $1352
Emergency fund: $1000
Hospital bill: $1523

Total: -$344 Getting close to zero!!!

Nice jump in your IRA and all your bills going down too!  Keep going, you'll have a positive NW in no time!!
Title: Re: Saving to $10K
Post by: Imma on January 25, 2018, 04:16:55 AM
Well done, Lemonverbena and Manchester! You're both making good progress.

I can't wait for my salary to be paid next week. This has been a hard month. My bike got stolen and I had to replace it, we had storm damage to our garden fences (still waiting to hear if insurance covers anything, but we have a €250 deductable and the fence was old, so I'm not sure) and January is also the month we pay local taxes. We were both ill over Christmas, so we didn't go to any of the family gatherings. This saved us money in December, but we've made a lot of New Year's visits to family this month + a few still coming up. None of them live in our area, so there are a lot of travel costs. I'm very happy to have savings though: many people earning €1200/month get in debt from these kind of small emergencies. For us it's only a small setback. I am going to look through the house for things to sell this Saturday though. Every little bit helps. I think I have a few items of clothing that might sell (lost some weight).

The positive side is that this month will be the last month I'll have a €70 tax payment. We had a small tax debt and it'll be paid off. I had planned to put that €70 towards savings, but it seems I'll have to spend it on a €50/month course for the forseeable future. It's work related, but I'm paying out of pocket. I'm looking for a new job and this course will hopefully pay itself back over time.
Title: Re: Saving to $10K
Post by: Spruit on January 25, 2018, 11:07:07 AM
debt ~35k (@0.81%)
Savings ~33k
Invested 4.3k

Jan. 18 update:
debt ~35k (@0.81%)
savings ~34k
invested 4.7k

Salary came in, redirected 200 to savings, 200 will be automatically invested in a few days (not included in numbers above). Payment for gig should come next month (250 euros, split between saving).
Numbers are looking good now, but Dog will need her knee fixed which costs more than 1k. We have a joint pet saving plan, but that's depleted by now so I think this will need a refill from both our private accounts. But, disclaimer, aside I'm quite happy with the progress.
Title: Re: Saving to $10K
Post by: DieHard_772 on January 25, 2018, 02:23:48 PM
Good job everyone!
BTW Often I think this thread is my favorite thread...
Title: Re: Saving to $10K
Post by: haypug16 on January 25, 2018, 02:40:44 PM
Good job everyone!
BTW Often I think this thread is my favorite thread...

Same here. I love when it comes up in my "new replies to your posts" section. It's so positive and motivating.
Title: Re: Saving to $10K
Post by: DieHard_772 on January 25, 2018, 09:19:12 PM
Good job everyone!
BTW Often I think this thread is my favorite thread...

Same here. I love when it comes up in my "new replies to your posts" section. It's so positive and motivating.

Yes,  I can't yet relate to the folks whose accounts grew by $500k in the last 18 months or something.
This is the thread for babysteps... which some day will be huge steps.
Title: Re: Saving to $10K
Post by: runbikerun on January 26, 2018, 01:14:24 AM
Slight backward step this month: I had to pay for flights for our summer holidays, which took a chunk out of my funds. It was expected, but a bit annoying to see the number going in the wrong direction. New total of 6,580.
Title: Re: Saving to $10K
Post by: lexde on January 26, 2018, 05:23:09 AM
Slight backward step this month: I had to pay for flights for our summer holidays, which took a chunk out of my funds. It was expected, but a bit annoying to see the number going in the wrong direction. New total of 6,580.
Have you looked into travel hacking at all? Depending on how often you travel, it could pay for or at least offset some of the expenses for holidays.
Title: Re: Saving to $10K
Post by: runbikerun on January 26, 2018, 06:15:49 AM
Slight backward step this month: I had to pay for flights for our summer holidays, which took a chunk out of my funds. It was expected, but a bit annoying to see the number going in the wrong direction. New total of 6,580.
Have you looked into travel hacking at all? Depending on how often you travel, it could pay for or at least offset some of the expenses for holidays.

I'm based outside the US, in a market where credit card bonuses are close to nonexistent, so travel hacking sadly isn't really an option. That said, the trade-off is that I can buy a Ryanair flight to just about anywhere in Europe for less than fifty dollars if I plan far enough in advance, so swings and roundabouts.
Title: Re: Saving to $10K
Post by: marielle on January 26, 2018, 06:36:59 AM
Haven't posted since reaching $0 net worth in August, now I'm at $5,246.

Welp, looks like I'm just under 11k now so I'll be joining the race to 100k thread!

It will drop slightly after paying rent and utilities in a few days, but should stay above 10k barring anything crazy like needing a car before my next paycheck (which is possible). I also have $120 in federal and $570 in state taxes due to me next month!
Title: Re: Saving to $10K
Post by: Imma on January 26, 2018, 06:50:02 AM
Haven't posted since reaching $0 net worth in August, now I'm at $5,246.

Welp, looks like I'm just under 11k now so I'll be joining the race to 100k thread!

It will drop slightly after paying rent and utilities in a few days, but should stay above 10k barring anything crazy like needing a car before my next paycheck (which is possible). I also have $120 in federal and $570 in state taxes due to me next month!

Congrats! Another graduate :) Hope to join you in the race to 100k next year.
Title: Re: Saving to $10K
Post by: Slanhirn on January 26, 2018, 07:00:25 AM
Congratulations Marielle on graduating! 

July 2017 = (£2,877)
August 2017 = (£1,852)  = +£1,025
September 2017 = (£650) = +£1,202
October 2017 = £1,238 = + £1,888
November 2017 = £3,066 = + £1,178
December 2017 = £4,360 = + £1,294
January 2018 = £6,895 = + £2,535
February 2018 = £7,943 = + £1,048

Assets = £21,879
Student loans = (£13, 968)

Had to use my emergency fund this month for the first time for a vet emergency, so glad I didn't have to worry about money while also trying to handle a crisis! Set me back a little on my planned savings though so my NW £10K goal is now April rather March unless I can scrounge and save/earn £500 somehow in the next month.
Title: Re: Saving to $10K
Post by: Lichen on January 26, 2018, 09:41:30 AM
Posting to join!

I just noticed there was a 10k thread - This is much more my speed!

We're self employed with money trickling in all month. In December, we managed to flip our finances so we are paying this month's bills off of last months earnings instead of paying everything as soon as we earned the money for it (and constantly posting a payment a few days late).

Income fluctuates monthly, but is around 40K/year on average. No debts but the house, which we have equity in. Not counting it as part of the net worth at this point though, since we will be either selling it or renting it out next year. My 10k race is all about cash saved (to be invested), baby!

January 1st saved: $334.24
Title: Re: Saving to $10K
Post by: DieHard_772 on January 26, 2018, 09:55:17 AM
Posting to join!

I just noticed there was a 10k thread - This is much more my speed!

We're self employed with money trickling in all month. In December, we managed to flip our finances so we are paying this month's bills off of last months earnings instead of paying everything as soon as we earned the money for it (and constantly posting a payment a few days late).

Income fluctuates monthly, but is around 40K/year on average. No debts but the house, which we have equity in. Not counting it as part of the net worth at this point though, since we will be either selling it or renting it out next year. My 10k race is all about cash saved (to be invested), baby!

January 1st saved: $334.24

Awesome, welcome aboard
Title: Re: Saving to $10K
Post by: fluffmuffin on January 26, 2018, 10:02:00 AM
Welcome @Lichen and congratulations to the newest graduates! May the road to your next $90k be swift and painless :)
Title: Re: Saving to $10K
Post by: Cassini on January 26, 2018, 01:58:14 PM
I know what people mean when they say they feel they are constantly anticipating the next payday. I have an app on my phone that counts down days to certain events, and the next payday is always on there!

Good for motivation, but I always feel a little guilty for not living in the moment as much as I could!

Below is my update for Jan Pay day. Can't believe it's almost February already...


Net Worth
Dec '17: £5792 - 2450 = £3342
Jan '18: £6759 - 2542 = £4217 (£875 increase)

Deposit Savings (16k target)
Dec '17 - £2277 - 14.23%
Jan '18 - £2842 - 17.76%
Title: Re: Saving to $10K
Post by: Spruit on January 26, 2018, 03:21:12 PM
Well done graduates and hi to new members!
Title: Re: Saving to $10K
Post by: fluffmuffin on January 29, 2018, 09:01:41 AM
Yall I just need to share that I had some magic budgeting math work out for me! I needed exactly $250 to cover pre-paying some vacation stuff for this summer...and I got a check in the mail for $250 from a contract job-thing back in December. That money was always going to be earmarked for vacation stuff, but I didn't know when I was going to get it. So hooray, now I can hit my goal numbers for the next paycheck :)
Title: Re: Saving to $10K
Post by: zeli2033 on January 29, 2018, 09:19:49 AM
That’s excellent, fluffmuffin! Love it when financial magic works out :)
Title: Re: Saving to $10K
Post by: nosythecat on January 29, 2018, 03:10:16 PM
Joining this thread

401K $4231
Debts  $(3420)
Savings $20
Checking  $255
Net Worth $1086

I want to exclude my 401k because technically that's money I'm not touching, but it's my net worth (excluding paid off car).   I've been laser focused on paying off my debt and should get that done by April and then my savings balance will look better than this pitiful $20.  I have already set up challenges and goals for myself to live as frugally as I can.  Just to pay off the debt will be a huge milestone for me.  Wish me luck all!
Title: Re: Saving to $10K
Post by: Spruit on January 29, 2018, 04:04:56 PM
Welcome and good luck!
Title: Re: Saving to $10K
Post by: vikingtantan on January 29, 2018, 07:22:55 PM
Currently have $5,300 in my emergency fund and hope to have it up to 10k by August 2018 or sooner. I should have a fairly large paycheck in March with bonuses and such, so hopefully I can smash this goal much sooner than August! :)
Title: Re: Saving to $10K
Post by: Spruit on January 30, 2018, 12:38:13 AM
So, dog had the operation without any complicaties it seems. Little bit less expensive than feared, covered it with our joint funds. Which means I'll get to keep my money to invest. And yesterday I got asked for a gig in June, which is far off but lucrative.
Title: Re: Saving to $10K
Post by: Lichen on January 30, 2018, 07:06:12 AM
So, dog had the operation without any complicaties it seems. Little bit less expensive than feared, covered it with our joint funds. Which means I'll get to keep my money to invest. And yesterday I got asked foto a gig in June, which is far off but lucrative.

Great news on all fronts!
Title: Re: Saving to $10K
Post by: Imma on January 30, 2018, 07:31:00 AM
So, dog had the operation without any complicaties it seems. Little bit less expensive than feared, covered it with our joint funds. Which means I'll get to keep my money to invest. And yesterday I got asked foto a gig in June, which is far off but lucrative.

Glad to hear your dog is doing well :)

Still waiting to get paid. My boss always waits until the very last moment and this time he's waited for so long I'm not not sure the money will arrive this month. I really hate it when he pays late. First of all because it's just procrastination on his side, and it feels disrespectful, but we have a lot of automatic payments at the last day of the month and it's a hassle to transfer money from a savings account so they can go through.
Title: Re: Saving to $10K
Post by: Mongoose on January 30, 2018, 07:58:30 AM
So, dog had the operation without any complicaties it seems. Little bit less expensive than feared, covered it with our joint funds. Which means I'll get to keep my money to invest. And yesterday I got asked foto a gig in June, which is far off but lucrative.

Glad to hear your dog is doing well :)

Still waiting to get paid. My boss always waits until the very last moment and this time he's waited for so long I'm not not sure the money will arrive this month. I really hate it when he pays late. First of all because it's just procrastination on his side, and it feels disrespectful, but we have a lot of automatic payments at the last day of the month and it's a hassle to transfer money from a savings account so they can go through.

This would make me nuts and is super inconsiderate of your boss!
Title: Re: Saving to $10K
Post by: LittleWanderer on January 30, 2018, 08:15:21 AM
Welcome new folks and congrats marielle!  :)  It's good to hear about puppies and financial magic too! 
Title: Re: Saving to $10K
Post by: LittleWanderer on January 30, 2018, 08:26:33 AM
End of January update:

Emergency fund: $3320

Yep, I went backwards.  I bought plane tickets (only happens about once a year) and my yearly supply of contacts this month.  Ouch.  At some point I'd like to have a separate fund for these things (because they're not exactly emergencies), but for the time being, these things are coming out of the e-fund.  Once I have the e-fund built up to where I want it, I'll deem it untouchable except for true emergencies and I'll have a separate savings for these type of things.  I suppose I could do that now, but I'm okay with this method for the time being.  It's all savings, after all. 

Unfortunately next month I'm heading backwards again due to getting the implant for my new tooth.  (To the tune of $2150.  Yikes!!!)  Thankfully March will be a quick rebuild with an extra paycheck and a tax return. 
Title: Re: Saving to $10K
Post by: lexde on January 31, 2018, 06:51:40 AM
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
Title: Re: Saving to $10K
Post by: deek on January 31, 2018, 07:31:02 AM
First time to the thread!!

I'm 26 and ready to get down to business for the next few years to kill as much debt as I can while building up savings.
Little bit of a slow start since I didn't understand much about money management right out of college and I took an adventure for 10 months out to Oregon on low hourly pay.

- Currently -
Cash: 991.36
Savings: 716.12
Credit card balance: -487.78
Car loan: -6320.24 (2.64%)
Student loan: -23,849 ($6,523 of this is at a 6.8% interest rate)

Approx $1300 in an old 401k that has been transferred to a holding trust company until I move it. I plan on starting an IRA with that.

I'm putting $250 towards this next months credit card payment, and hope to be putting away $500 to my savings for an emergency fund. Or should I just ditch the savings and pay off my credit card?

Let me know if you have some tips. Good luck everyone!

Title: Re: Saving to $10K
Post by: zeli2033 on January 31, 2018, 08:33:32 AM
I'm putting $250 towards this next months credit card payment, and hope to be putting away $500 to my savings for an emergency fund. Or should I just ditch the savings and pay off my credit card?

Let me know if you have some tips. Good luck everyone!

Welcome dj! Great to have you here. RE: your question and going off the Investment Order Sticky Post (https://forum.mrmoneymustache.com/investor-alley/investment-order/msg1333153/#msg1333153) you could build up an e-fund first before going after the credit card (depending on the interest rate) and additional high-interest debt.

However, since the credit card balance is so low and it seems like you'll be able to wipe it quickly, I personally would want to douse the hair on fire debt before savings. But I just really like the psychological benefits of eradicating debt demons so YMMV. Either way, check out the Investment Order post, see what other mustachians have to say and of course, do your research before making your decisions.

No matter what you're #winning because you're here :)
Title: Re: Saving to $10K
Post by: zeli2033 on January 31, 2018, 08:40:34 AM
End of January Update

12/11/17: (47,400)
12/26/17: (42,469)
12/29/17: (39,190)
1/31/18: (28,165)

Assets [401ks, IRAs, Cash]: $35,314
Student Loan: (63,480)

Recap: DH transitioned to new company, increased 401k contributions, liquidated checking account to only float one month of expenses and put the rest in 2017/2018 Roth IRAs.
Title: Re: Saving to $10K
Post by: haypug16 on January 31, 2018, 08:51:24 AM
Welcome to everyone who just joined.

January 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) +3,969.70 increase from last month. I realized that I was not adding my checking account balance in my NW total! Normally this would be OK since every pay day money comes in and I pay my bills that day so the balance is kept very low, but now that my Student Loans are set up on Auto-pay which doesn't go through until the 13th I have some money sitting in the account. I almost posted my January update with out noticing that and the increase would have only been $2,955. So instead of coming in just under my $3K goal I surpassed it by nearly a grand. :)

So close to being out of the neg 20s and I'm 2 months away from my 1 year anniversary of joining this thread. I still can't believe how different my spending/savings has changed and that I've been able to increase my NW by ~$32K! I'll just be over here feeling proud of myself and also thinking about ways I can be even more Mustachian!



Zero NW goal - September 2018
$10K NW goal - December 2018
Title: Re: Saving to $10K
Post by: Tass on January 31, 2018, 10:27:42 AM
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

Holy cow, lexde - am I reading right that you've gained almost $5k in a month and a half? You're on fire! (But in a cool way, not a debt way..)
Title: Re: Saving to $10K
Post by: lexde on January 31, 2018, 10:52:12 AM
Holy cow, lexde - am I reading right that you've gained almost $5k in a month and a half? You're on fire! (But in a cool way, not a debt way..)
Yep! It won’t keep up at that rate because I am funneling cash into my HSA to have it fully funded by March 1 (about $600 in additional NW gain per month thanks to tax breaks) but I’m working diligently to hit my 10k goal before May! We’ll see.
Title: Re: Saving to $10K
Post by: TexasRunner on January 31, 2018, 11:01:31 AM
Allright so I'm in. 
...
Current status:
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. 

Good to keep working on it and seeing the updates in this thread.

Update at end of December....   Not bad considering 1/2 of 1 month.  :)

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).

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.

I do need to speed it up to hit my goal of September.  Planning a weekend vacation (and paying for it ahead of time) kinda screwed up my progress this month... :/  But life is about living.

Keep it up peeps.
Title: Re: Saving to $10K
Post by: Lichen on January 31, 2018, 02:39:57 PM
January check-in (and my first official check-in):

January: $3217.74

This number may dip over February since I have a few summer reservations to make...
Title: Re: Saving to $10K
Post by: Manchester on February 01, 2018, 06:59:05 AM
First time to the thread!!

I'm 26 and ready to get down to business for the next few years to kill as much debt as I can while building up savings.
Little bit of a slow start since I didn't understand much about money management right out of college and I took an adventure for 10 months out to Oregon on low hourly pay.

- Currently -
Cash: 991.36
Savings: 716.12
Credit card balance: -487.78
Car loan: -6320.24 (2.64%)
Student loan: -23,849 ($6,523 of this is at a 6.8% interest rate)

Approx $1300 in an old 401k that has been transferred to a holding trust company until I move it. I plan on starting an IRA with that.

I'm putting $250 towards this next months credit card payment, and hope to be putting away $500 to my savings for an emergency fund. Or should I just ditch the savings and pay off my credit card?

Let me know if you have some tips. Good luck everyone!

Welcome to the forum!  Feel free to ask questions in here, I've found everyone is positive and friendly!

Zeli's advice is right IMO.  The order of investments is important, but a lot depends on your personal circumstances and your risk tolerance.  Depending on your job safety, accomodation arrangements and so on, you may need an emergency fund in place.  If you were to say you have 3 children, a mortgage and an unstable job, an emergency fund is vital, if you're living in your childhood home, rent free with no bills, then you obviously don't need as much.

If you're being charged over 10% interest on your CC, I would treat this as an emergency and attempt to pay that off immediately, dipping into your savings account if you need to.  Seriously, treat it as if your hair is on fire!!  Meals out/take aways, nights out, short breaks, any treats what so ever - forget it until it's extinguished!  Work over time if you can.  I know it's 'only a few hundred $'s' but that's the type of mind set that got me out of CC debt.  It's incredibly demoralising to work hard and earn more money one month, to find it'll only service your CC interest and you'll be in a similar boat next month etc.   

The interest you're saving on that will help you boost a reasonable emergency fund. and then I'd tackle the 6% student loan with equal vigour.



Title: Re: Saving to $10K
Post by: frontstepdesign on February 01, 2018, 07:54:56 AM
Posting to join!  I think I just need to swap my FB time to the various threads on this forum... :)

We're in a transitional period - we have sales deals pending with tenants* in two previous residences, and settling into the new place has its expenses too, so my balance sheet looks pretty daunting right now...for my own sanity, I want to monitor making progress SOMEWHERE.

Cash: 5332
401K: 36,013
NonPropertyDebt (highest priority, but most of this is at 0% temporary rate): (16,742)
Student loan: (2861)

*though one of these is looking pretty sketchy - I hope we don't have to evict the guy, he's been a longtime friend.  But with numbers above, I can't afford to extend loan/gift of unpaid rent!
Title: Re: Saving to $10K
Post by: deek on February 01, 2018, 08:17:27 AM
First time to the thread!!

I'm 26 and ready to get down to business for the next few years to kill as much debt as I can while building up savings.
Little bit of a slow start since I didn't understand much about money management right out of college and I took an adventure for 10 months out to Oregon on low hourly pay.

- Currently -
Cash: 991.36
Savings: 716.12
Credit card balance: -487.78
Car loan: -6320.24 (2.64%)
Student loan: -23,849 ($6,523 of this is at a 6.8% interest rate)

Approx $1300 in an old 401k that has been transferred to a holding trust company until I move it. I plan on starting an IRA with that.

I'm putting $250 towards this next months credit card payment, and hope to be putting away $500 to my savings for an emergency fund. Or should I just ditch the savings and pay off my credit card?

Let me know if you have some tips. Good luck everyone!

Welcome to the forum!  Feel free to ask questions in here, I've found everyone is positive and friendly!

Zeli's advice is right IMO.  The order of investments is important, but a lot depends on your personal circumstances and your risk tolerance.  Depending on your job safety, accomodation arrangements and so on, you may need an emergency fund in place.  If you were to say you have 3 children, a mortgage and an unstable job, an emergency fund is vital, if you're living in your childhood home, rent free with no bills, then you obviously don't need as much.

If you're being charged over 10% interest on your CC, I would treat this as an emergency and attempt to pay that off immediately, dipping into your savings account if you need to.  Seriously, treat it as if your hair is on fire!!  Meals out/take aways, nights out, short breaks, any treats what so ever - forget it until it's extinguished!  Work over time if you can.  I know it's 'only a few hundred $'s' but that's the type of mind set that got me out of CC debt.  It's incredibly demoralising to work hard and earn more money one month, to find it'll only service your CC interest and you'll be in a similar boat next month etc.   

The interest you're saving on that will help you boost a reasonable emergency fund. and then I'd tackle the 6% student loan with equal vigour.

Thanks! I move out of my place with 3 other roommates in July. Only $375 rent, but if I got that new position, I would be a 5 minute walk from work. Once I move out, if I wanted to live at home for free, I'm 40 minutes away from work having to drive every day....
May be worth it to do as much research as I can to find a cheap living situation close to work.
Title: Re: Saving to $10K
Post by: Imma on February 01, 2018, 01:08:16 PM
Savings:
July 31:                 €2400
August 30:            €2000
September 27:       €1300
October 30:           €1400
November 30:        €1600
December 29:        €1100
February 1:            €1100


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

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


Goals for 31 December 2018:

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

I'm actually really surprised to add this all up and see my savings are the same as last month and my total still starts with a 4! We've had a really expensive month. We had storm damage that is not covered by insurance, my bike was stolen and needed to be replaced, we also pay local taxes in January. Luckily February is a short month, I'll be able to work quite a bit of overtime, we are selling a few things from around the house on the internet, and we're trying to cut back on groceries as much as possible this month. Winter is always the season when we have the lowest amount of savings: we get an extra month's wages in May and in early summer we get our tax return. We always seem to have extra costs in autumn and winter.
Title: Re: Saving to $10K
Post by: fluffmuffin on February 02, 2018, 10:52:35 AM
Welcome to the new folks!

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

Normal pay cycle, nothing much to report. My savings account is big enough at this point that I'm up to $10 per month in interest. I'm chucking that into the house fund, so I'm excited to add an extra $120/year with zero effort on my part :) Work, little green men, work!
Title: Re: Saving to $10K
Post by: zeli2033 on February 03, 2018, 06:58:53 AM
Welcome, onthedollar! You got here early in life, which is super commendable! Looks like you're on a great path.
Title: Re: Saving to $10K
Post by: TexasRunner on February 03, 2018, 07:38:16 AM
22, and hoping to build up my emergency funds quickly, before I start investing. So all my money's going into that now ^^

Good job!  even earlier than me.

What length of E-Fund are you shooting for?  Alos note, e-funds can generate some interest, usually about 1.0%-1.5%.  Something to consider.  Ask around or look upthread for some e-fund recommendations.
Title: Re: Saving to $10K
Post by: vseddie on February 05, 2018, 02:05:17 AM
Started again at the beggining of the year to build a 10k emergency fund. Worked some crazy overtime and had some money owed to me paid back :)

Jan 1st $0
Jan 31st $2628
Title: Re: Saving to $10K
Post by: Moonwaves on February 06, 2018, 01:21:34 AM
Yikes. I'm glad I have the sensible advice here to fall back on because honestly, the market going down the last few days is kind of scary. My ETF investment (have invested 50/month for 10 months now, so 500 less fees) was up to almost 525 the other day and is down to 468 today. I'm trying to just look on the bright side and enjoy the fact that my next 50 will buy more units than that much did last month. In the meantime, I've finally gotten most of the money from outstanding invoices so I'm off to transfer that to various different pots now.

Title: Re: Saving to $10K
Post by: Manchester on February 06, 2018, 03:19:33 AM
Good to see there's some new recruits on here, you're all welcome and I hope you're all 'done' on this thread nice and quickly.


Having seen the news about the stock market taking a hit last night, it'll be interesting to see how that affects people here.  Hopefully we don't get any relegatees dropping down from the race to 100k thread.
Title: Re: Saving to $10K
Post by: Tass on February 06, 2018, 10:17:58 AM
Yikes. I'm glad I have the sensible advice here to fall back on because honestly, the market going down the last few days is kind of scary. My ETF investment (have invested 50/month for 10 months now, so 500 less fees) was up to almost 525 the other day and is down to 468 today. I'm trying to just look on the bright side and enjoy the fact that my next 50 will buy more units than that much did last month. In the meantime, I've finally gotten most of the money from outstanding invoices so I'm off to transfer that to various different pots now.

Good stuff to remember! I just remind myself I'm nowhere near retirement and the balance doesn't matter until I get there. The market has a long time to recover your $32 and to produce more on top of it. :)
Title: Re: Saving to $10K
Post by: mountain mustache on February 06, 2018, 07:56:47 PM
My savings rate will be a big fat 0% this month. It's one of those months when everything goes wrong, and there's a dental bill and two medical bills, all of which were unplanned. It can be so frustrating sometimes when you make a lower income to have little emergencies happen that just erase any plans you had for saving.
I know it will get better, just one of those months!
Title: Re: Saving to $10K
Post by: TexasRunner on February 06, 2018, 08:00:12 PM
My savings rate will be a big fat 0% this month. It's one of those months when everything goes wrong, and there's a dental bill and two medical bills, all of which were unplanned. It can be so frustrating sometimes when you make a lower income to have little emergencies happen that just erase any plans you had for saving.
I know it will get better, just one of those months!

Yah, but you didn't go into debt (or worsen a debt spiral) for it.

Which is WAY better than about ~85% of the American population.

Kudos to you for surviving life!  (Really, not being sarcastic :)  )
Title: Re: Saving to $10K
Post by: Spruit on February 07, 2018, 02:44:24 AM
Mountain mustachian, I've been there... maybe a tip for way, way later: build up a seperate stash earmarked for health. In my experience it feels way less painful to inevitably use this, because you've already written it off from "real" savings and you'll keep seeing those grow anyway. Less demotivating for me that way.
But I have to add: we have a different system here and see way less collosal bills for health accidents.
Title: Re: Saving to $10K
Post by: Moonwaves on February 07, 2018, 02:48:33 AM
BoI savings a/c: 54.00
DiBa ETF: 514.76
CmzBank savings a/c: 500.01 (1c interest earned. Yay? :) )
Total:  1,068.77

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

And I've also got €1,100 sitting in my annual expenses accounts (50 of that will go to my ETF savings next week). That's a big relief somehow. Now to keep it going. I had a more spendy than planned long weekend in Ireland but partly that is just expectations not matching reality. They never do and yet every time I manage to convince myself that it's not really as expensive there I as think it is. If I'm going to spend a week there in July, I really need to make sure to save a lot more for it first. Hopefully will get holidays sorted out with colleagues soon so that I know when I'll be off and can start looking for good bargains on flights and car rental. My sister is pregnant and due in March so I'll probably try and fly over around easter for a few days, too. It will slow savings down but so long as I'm not going into debt, I'm choosing to prioritise family a bit this year and that's ok.
Title: Re: Saving to $10K
Post by: haypug16 on February 09, 2018, 09:51:36 AM
my accounts are not liking the market dip. :( Hoping my income will outweigh the losses. So far I'm down $1,600 from the end of Jan.
Title: Re: Saving to $10K
Post by: Tass on February 09, 2018, 11:34:51 AM
my accounts are not liking the market dip. :( Hoping my income will outweigh the losses. So far I'm down $1,600 from the end of Jan.

But if you're not gonna be using that money anytime soon, then the balance today doesn't matter. I'm taking this as an opportunity to look at my dropping investment balance, notice that my daily/monthly cashflow hasn't changed a bit, and take to heart the advice to stay the course. :)

There's a thread somewhere about marveling that being able to lose $x without real hurt is its own indicator of wealth... And of course, you will re-earn that $1600. I'm sorry it's set you back from the thread goal, but this is normal and [hopefully] we were ready for it!
Title: Re: Saving to $10K
Post by: haypug16 on February 09, 2018, 11:40:16 AM
my accounts are not liking the market dip. :( Hoping my income will outweigh the losses. So far I'm down $1,600 from the end of Jan.

But if you're not gonna be using that money anytime soon, then the balance today doesn't matter. I'm taking this as an opportunity to look at my dropping investment balance, notice that my daily/monthly cashflow hasn't changed a bit, and take to heart the advice to stay the course. :)

There's a thread somewhere about marveling that being able to lose $x without real hurt is its own indicator of wealth... And of course, you will re-earn that $1600. I'm sorry it's set you back from the thread goal, but this is normal and [hopefully] we were ready for it!

Yes of course the balance today "doesn't matter". I just like the idea of my balance reflecting all the work I'm putting in. Like all my debts going down.

Just posting feelings not planning on taking all my money out of the market. :)
Title: Re: Saving to $10K
Post by: Tass on February 09, 2018, 01:11:43 PM
Yah I didn't mean to be doling out market advice. Just cheerful takes on the situation. :) Frustration in this circumstance makes sense, though.
Title: Re: Saving to $10K
Post by: haypug16 on February 09, 2018, 02:10:44 PM
no worries. I got a little too used to the market going up up up. I knew in my mind that it was bound to go down at some point. I was toying with the idea of re-balancing (my accounts are set up to do this quarterly automatically) but never got around to doing it. Oh well. I'll be able to purchase many more shares with my next paycheck :) 
Title: Re: Saving to $10K
Post by: zeli2033 on February 09, 2018, 02:57:56 PM
my accounts are not liking the market dip. :( Hoping my income will outweigh the losses. So far I'm down $1,600 from the end of Jan.

But if you're not gonna be using that money anytime soon, then the balance today doesn't matter. I'm taking this as an opportunity to look at my dropping investment balance, notice that my daily/monthly cashflow hasn't changed a bit, and take to heart the advice to stay the course. :)

There's a thread somewhere about marveling that being able to lose $x without real hurt is its own indicator of wealth... And of course, you will re-earn that $1600. I'm sorry it's set you back from the thread goal, but this is normal and [hopefully] we were ready for it!

Yes of course the balance today "doesn't matter". I just like the idea of my balance reflecting all the work I'm putting in. Like all my debts going down.

Just posting feelings not planning on taking all my money out of the market. :)

This here. I know what steps I need to take (stay the course) which I don’t have a problem with but I also liked seeing the numbers reflect the hard work we were putting in. I like to see the fruits of our savings labor immediately :) Quite humbling to receive the tax refund, invest the total amount and then watch our net worth and asset amount drop as if nothing happened...

Either way, money will stay put and we will continue on our wealth accumulation/debt reduction journey. I just look at the numbers much less frequently - which is probably a good thing for me anyway...
Title: Re: Saving to $10K
Post by: lemonverbena on February 09, 2018, 08:26:48 PM
Jan 2017:
SEP IRA: $225
Car loan: -$7825

Total: -$7600


Late Jan 2017:
SEP IRA: $225
tIRA: $1590
Car loan: -$7825

Total: -$6010


Mid Feb 2017:
SEP IRA: $226
tIRA: $1604
Car loan: -$5593

Total: -$3763

Mar 2017:
SEP IRA: $227
tIRA: $1630
Car loan: -$5593
Roof loan: -$8864

Total: -$12,600

Numbers going way in the wrong direction, but a roof replacement is so overdue and it feels good to be taking care of it. Should have half of it paid off by the end of the month.

Actually, make that by the end of June.

Mid-Apr 2017:
SEP IRA: $231
tIRA: $1624
Car loan: -$5120
Roof loan: -$8864
Emergency fund: $1000

Total: -$11,129

Late-Jun 2017:
SEP IRA: $245
tIRA: $1702
Car loan: -$4645
Roof loan: -$3864
Emergency fund: $1000

Total: -$5,562

Not even close to zero yet, but moving in the right direction again!

Mid-Sep:
SEP IRA: $581
tIRA: $1777
Car loan: $3931
Roof loan: $3649
Emergency fund: $0

Total: -$5,222

My number is basically the same as before, but life happened and now I need to replenish the emergency fund after a trip my spouse took to urgent care turned into an ambulance ride to the ER and a three day stay in the hospital. He now has an incurable autoimmune disease that will require lots of pharmaceuticals for the rest of his life. It has been an adjustment, for sure. So thankful he has good health insurance and we were able to deal with this with our meager emergency fund, but we also really wish we would have signed up for life insurance while he was still healthy!

Mid-Oct:
SEP IRA: $590
tIRA: $1809
Car loan: $3692
Roof loan: $3578
Emergency fund: $505
Hospital bill: $2024

Total: -$6390

Ah ha ha! Silly me. I thought we had paid off the last of the hospital bills. Nope. Another one rolled in. Always something.

Mid-Nov:
SEP IRA: $1395
tIRA: $1826
Car loan: $3452
Roof loan: $3578
Emergency fund: $1000
Hospital bill: $2024, maybe. It's under review.

Total: -$4833

Mid-Dec:
SEP IRA: $1399
tIRA: $1849
Car loan: $3211
Roof loan: $1506
Emergency fund: $1000
Hospital bill: $1774

Total: -$2243

Mid-Jan:
SEP IRA: $2524
tIRA: $1978
Car loan: $2971
Roof loan: $1352
Emergency fund: $1000
Hospital bill: $1523

Total: -$344 Getting close to zero!!!

Feb:
SEP IRA: $3439
tIRA: $2111
Car Loan: -$2730
Roof Loan: -$1352
Emergency Fund: $1000
Hospital Bill: -$1523

Total: $945 Tada!! Positive net worth!! It took 13 months to make it to the starting line, but I made it :)
Title: Re: Saving to $10K
Post by: Spruit on February 10, 2018, 01:59:27 AM
my accounts are not liking the market dip. :( Hoping my income will outweigh the losses. So far I'm down $1,600 from the end of Jan.

But if you're not gonna be using that money anytime soon, then the balance today doesn't matter. I'm taking this as an opportunity to look at my dropping investment balance, notice that my daily/monthly cashflow hasn't changed a bit, and take to heart the advice to stay the course. :)

There's a thread somewhere about marveling that being able to lose $x without real hurt is its own indicator of wealth... And of course, you will re-earn that $1600. I'm sorry it's set you back from the thread goal, but this is normal and [hopefully] we were ready for it!

Yes of course the balance today "doesn't matter". I just like the idea of my balance reflecting all the work I'm putting in. Like all my debts going down.

Just posting feelings not planning on taking all my money out of the market. :)

This here. I know what steps I need to take (stay the course) which I don’t have a problem with but I also liked seeing the numbers reflect the hard work we were putting in. I like to see the fruits of our savings labor immediately :) Quite humbling to receive the tax refund, invest the total amount and then watch our net worth and asset amount drop as if nothing happened...

Either way, money will stay put and we will continue on our wealth accumulation/debt reduction journey. I just look at the numbers much less frequently - which is probably a good thing for me anyway...

This is why I also have a graph of the number of shares I own, not just the value at any given time. So I can make my progress, regardless of circumstances, a tangible thing.
Title: Re: Saving to $10K
Post by: Trifele on February 10, 2018, 02:36:09 AM
Total: $945 Tada!! Positive net worth!! It took 13 months to make it to the starting line, but I made it :)

Congrats LemonVerbena!!  Positive territory is huge. Great job!
Title: Re: Saving to $10K
Post by: zeli2033 on February 10, 2018, 12:03:44 PM
@Spruit that's a great idea! I'm going to borrow your graph of actual shares owned and start doing that on our end.

CONGRATS, @lemonverbena! Huge win. Awesome to see how your hard work paid off :)
Title: Re: Saving to $10K
Post by: LittleWanderer on February 12, 2018, 08:36:30 AM
Way to go, lemonverbena!!!!  That's such a good feeling.

And yes, the market dropping feels crappy, even though I know it doesn't mean anything to me right now.  My 401K was up by 25% at one point -- I knew it couldn't stay that way! 
Title: Re: Saving to $10K
Post by: M5 on February 13, 2018, 02:54:08 PM
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!
Title: Re: Saving to $10K
Post by: Rimu05 on February 14, 2018, 12:41:01 PM
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 = $-28,503
Credit card = -$ 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.

Title: Re: Saving to $10K
Post by: lexde on February 15, 2018, 05:40:27 AM
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

I got a $5K raise at work which became effective with today's paycheck. Very surprisingly, they retroactively paid for January's salary increase in this check, too. I was really impressed. So that, plus an increased 401K percentage contribution, and my final HSA contribution for the year, meant a decent jump in NW this check. Hopefully, this means I'll hit 10K by the end of March. :-)
Title: Re: Saving to $10K
Post by: zeli2033 on February 15, 2018, 09:13:02 AM
That is awesome - congrats, lexde! You'll be out of here in no time :)

Mid-month 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)

Assets [401ks, IRAs, Cash]: $38,620
Student Loan + CC: (65,019)

We are THIS CLOSE to wrapping up 2018 roth contributions for the two of us this year. The tax refund helped quite a bit. We also decided to start cashing in on rewards points and using CCs for everyday purchases but they'll be paid off in full at the end of the month so the net worth definitely reflects that. If things continue on as we've projected, this will be the first month we can put an extra payment toward the student loans.
Title: Re: Saving to $10K
Post by: M5 on February 15, 2018, 09:34:33 AM
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
Title: Re: Saving to $10K
Post by: haypug16 on February 15, 2018, 09:41:53 AM
February mid-month 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)
2/15/2018 $(20,844.91) -390.48 decrease!

Went the wrong way this month. The good news is that this is all due to the Market correction. I still paid down about $2K in Credit Card debt and about $1K in Student Loans in just the first half of the month. The other good news is I still have another Full-Time and a part-time check coming to me this month and fingers crossed the market is done correcting itself and I can salvage this month.

Title: Re: Saving to $10K
Post by: recklesslysober on February 15, 2018, 03:11:07 PM
December: -$62,200
January: -$60,100

I'm up to $24K invested.. hopefully will hit the $25K mark next month! 1/4 of the way to the first $100K.

February: -$58,700
Title: Re: Saving to $10K
Post by: fluffmuffin on February 19, 2018, 02:39:50 PM
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

A little late with the mid-month update. Work has been really busy and the LAST freaking thing I've wanted to do with my spare mental energy is talk about budgeting. Which is probably bad because I only added like $6 to my house fund and I spent most of the difference on consumer goods,* which is unusual for me. And I'm going to spend more money on clothes this month? It's kind of mind boggling, but then I've also hit a point where I'm tired of wearing boots with the soles coming apart** and leggings with holes in them. I haven't bought new winter clothes or shoes in about four years and I just don't choose to deal with having such limited options anymore.

*I did bank $$$ for the upcoming wedding season and summer travel.
**Not worth repairing since the leather around the zipper is also starting to fray.
Title: Re: Saving to $10K
Post by: Spruit on February 20, 2018, 01:20:50 AM
You can buy an aweful lot of clothes for little money in a thriftshop. That does take some trial and error though, as in : multiple runs before you get all the things you are looking for.
Title: Re: Saving to $10K
Post by: fluffmuffin on February 20, 2018, 01:30:33 PM
You van buy An aweful lot of clothes for little money in a thriftshop. That does take some trial and error though, as in : multiple runs before you getall the things you are looking for.

Yeah, I know. I buy most of my clothes second-hand since it's a win for both the budget and sustainability, but it can be tough when you're trying to plug specific holes. I've been looking for a new pair of black work pants for over a year, for example, and haven't been able to find the unicorn pair in the right size, right fit, and right quality of construction. I'm trucking along without them, even though my work wardrobe would be easier to manage if I had them, because I don't need-need them and am willing to keep sucking it up until I find something perfect.

The stuff I've been replacing, though, is more critical-level and has not been available at my second-hand shops of choice. A big chunk of it is also athletic wear, which is not really something I'm interested in picking up second-hand because of the sweat factor. It's February, I have one pair of leggings without holes in them, and I work out 5-6 days a week.

I feel like I'm doing a lot of justifying. I thought all of my winter clothes had worn out last year, but I gritted my teeth and got through it to save the money. But this year I'm DONE.
Title: Re: Saving to $10K
Post by: Spruit on February 20, 2018, 02:09:10 PM
Okay, totally get that. No justification needed on my account :-) I don't find everything thrifted all of the time either. 80-20 principle works for clothes as well I guess.
Title: Re: Saving to $10K
Post by: Trifele on February 21, 2018, 02:56:43 AM
Just wanted to share this inspiring post from the "Share Your Badassity" thread, about starting from nothing with low earnings, and what it feels like to make it to $100k:

https://forum.mrmoneymustache.com/share-your-badassity/thank-you-to-this-community-hit-over-$100k-started-at-minimum-wage/
Title: Re: Saving to $10K
Post by: haypug16 on February 21, 2018, 06:38:24 AM
Thanks for sharing that link Trifele. :)

Can't wait for all of us to reach that level!
Title: Re: Saving to $10K
Post by: Manchester on February 22, 2018, 04:42:58 AM

22/09/2017: 
Current account - £927.07
Emergency fund - £1.58
Investments - £0
Credit Card debt - -£1,288.72
Payments Due this month - -£1022

Total - -£1,382.07



 23/10/2017:

Current Account:  £113.95
Emergency fund:  £1.58
Investments:  £527.21
Credit Card:  -£822.27

TOTAL - -£179.53


22/11/2017

Current: £119.37
Emergency Fund:  £1.58
Investments:  £569.80
Credit Card:  -£195.70

NET:  £495.05



21/12/2017

Current: £363.26
Emergency Fund: £1.58
Investments: £581.26
Credit Card: £0

NET: £946.10



22/01/2018

Current: £940.82
Emergency Fund: £1.58
Investments: £659.59
Credit Card: £0


NET: £1,601.99



February update.

Tough month financially, covering my SO's half of the bills and less money paid in overtime + had some overdue work done in the house (so bought the materials and carried the work out with family for free).  I'm being a bit of a complainy pants I know, but just so frustrating to go in the wrong direction. 

Current: £401.10
Emergency Fund: £500
Investments: £666.36
Credit Card: £0


NET: £1,567.46


The bad news is I'm down £34.53 on last month.  Really irritating!  To prove I'm still moving in the correct direction I've put £500 into my savings 'emergency fund'.  I can access this money, but it's difficult too (I have to go into bank with ID, queue up for ages and so on - can't just transfer via banking app).  If I do that again after payday (or atleast something) it keeps me moving in the right direction and will make it harder to justify facepunch spending.

On the brightside it could be worse, no CC debt racked up and still got enough money left over at the end of the month.  Had my SO's work situation happened in September I'd genuinely be in 'sell the house' territory.

How's everyone else getting on?  Good to see some new accounts on here.

Title: Re: Saving to $10K
Post by: Spruit on February 23, 2018, 06:12:13 AM
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.

Title: Re: Saving to $10K
Post by: lemonverbena on February 23, 2018, 02:38:03 PM
Thanks to all the people that take the time to cheer everyone on! That makes this so much more fun and motivating :)
Now that I’ve made it to zero, I thought it was time to trim my thread history. Fresh start!

Late Feb:
SEP IRA: $3548
tIRA: $4165
Emergency fund: $1000
Roof loan: -$1267
Car loan: -$2730
Hospital bill: -$1523

Total: $3193
Title: Re: Saving to $10K
Post by: Slanhirn on February 25, 2018, 10:53:40 AM
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

Assets = £22,299
Student loans = (£13,545)

Interesting month, it's the first month I saved more from my paycheck (£1,300) than my net worth actually went up by (£811). Frustrating! But a good test for I'll just have to complete ignore market corrections.

Thanks for the link Trifele! Always interesting to read other people's perspectives.

According to my spreadsheet, unless an emergency or major market correction happens I will hopefully pass £10K next month!! So close!

Title: Re: Saving to $10K
Post by: Imma on February 28, 2018, 01:52:15 AM
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

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

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

Goals for 31 December 2018:

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

Total is now the highest it has ever been since I've joined this thread! And pretty sure it hasn't been this high since right before we bought our house in summer 2015. We paid local taxes this month and a couple of other bills, but we're still making progress. I worked a lot of overtime this month that will be paid in March, so hopefully next month will be even better. While doing some work on the house last week we discovered a small leak in water pipe and had that fixed, so hopefully that will lower the water bill a little bit. I also got an unexpected 3% raise this month (which is about €30). I had a 10% raise this summer, after my 1 -year evaluation, so I really didn't expect another raise this soon. I'm glad to see my boss values me. He's not the type of person to say that at loud, he can be very difficult, but I'm happy that he's expressing his satisfaction through money :)
Title: Re: Saving to $10K
Post by: lexde on February 28, 2018, 05:37:51 AM
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

Well, that went by a lot quicker than I was expecting. Cheers, everyone! I'm going on vacation next month so my NW might dip so I'll stick around a bit for a buffer. :-)
Title: Re: Saving to $10K
Post by: Spruit on February 28, 2018, 05:59:50 AM
Good luck studying, onthedollar. And have a nice trip Lexde!
Title: Re: Saving to $10K
Post by: TexasRunner on February 28, 2018, 07:02:06 AM
2/28/2018: $10,215.72

Well, that went by a lot quicker than I was expecting. Cheers, everyone! I'm going on vacation next month so my NW might dip so I'll stick around a bit for a buffer. :-)

Congratulations!!!!
Title: Re: Saving to $10K
Post by: zeli2033 on February 28, 2018, 07:57:12 AM
End of month 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)

Assets [401ks, IRAs, Cash]: $42,150
Student Loan: (63,885)
Title: Re: Saving to $10K
Post by: haypug16 on February 28, 2018, 08:49:22 AM
Congrats @lexde have a great vacation.

Nice work @zeli2033

February 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) +$2,232.80 Managed to turn this month around thanks to the market recovering a little and throwing all my money at debt and spending very little.

My part-time gig is coming to an end probably by next week so my income will be about $1K less a month but I think I can still keep up with my $3K a month increase as long as I stay focused and the market doesn't get crazy.


Zero NW Goal - September 2018
$10K NW Goal - December 2018
Title: Re: Saving to $10K
Post by: vseddie on February 28, 2018, 01:34:55 PM
February update  :)

Savings
Jan 1st $0
Jan 31st $2628
Feb 28th $5254.40 (+$2626.40)
Title: Re: Saving to $10K
Post by: Estonian on February 28, 2018, 02:17:36 PM
Current net worth : ~470€ .
Per aspera ad astra. ;)
Title: Re: Saving to $10K
Post by: LittleWanderer on March 01, 2018, 06:55:13 AM
End of February update:

Emergency fund: $4272

Thankfully I'm heading back in the right direction!  I got my federal tax refund and my insurance kicked in for part of my dental bill.  I should only be going up from here (fingers crossed, at least!)
Title: Re: Saving to $10K
Post by: Moonwaves on March 01, 2018, 07:22:09 AM
Per aspera ad astra. ;)
I like this. Going to learn how to cross-stitch, just so I can put that on a pillow. :)
Title: Re: Saving to $10K
Post by: TexasRunner on March 01, 2018, 11:48:33 AM
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!!!!
Title: Re: Saving to $10K
Post by: M5 on March 01, 2018, 12:30:54 PM
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
Title: Re: Saving to $10K
Post by: Spruit on March 01, 2018, 12:33:22 PM
Nice to see everyone moving in the right direction. We'll get there!
Title: Re: Saving to $10K
Post by: lexde on March 01, 2018, 12:39:13 PM
@texasrunner — you’re so close!!


Sent from my iPhone using Tapatalk
Title: Re: Saving to $10K
Post by: TexasRunner on March 01, 2018, 02:38:58 PM
@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.
Title: Re: Saving to $10K
Post by: Moonwaves on March 02, 2018, 02:15:03 AM
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.
Title: Re: Saving to $10K
Post by: Manchester on March 06, 2018, 08:26:28 AM
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. 
Title: Re: Saving to $10K
Post by: TexasRunner on March 06, 2018, 09:12:04 AM
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.

:)
Title: Re: Saving to $10K
Post by: Manchester on March 07, 2018, 04:13:04 AM
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!
Title: Re: Saving to $10K
Post by: M5 on March 08, 2018, 09:50:23 AM
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!
Title: Re: Saving to $10K
Post by: haypug16 on March 09, 2018, 11:07:41 AM

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 :)
Title: Re: Saving to $10K
Post by: M5 on March 09, 2018, 12:14:08 PM

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!
Title: Re: Saving to $10K
Post by: Rimu05 on March 14, 2018, 07:44:51 AM
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.
Title: Re: Saving to $10K
Post by: Tass on March 14, 2018, 10:26:53 AM
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!
Title: Re: Saving to $10K
Post by: Rimu05 on March 14, 2018, 11:07:18 AM
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.
Title: Re: Saving to $10K
Post by: Moonwaves on March 15, 2018, 06:32:33 AM
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.
Title: Re: Saving to $10K
Post by: haypug16 on March 15, 2018, 07:14:18 AM
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
Title: Re: Saving to $10K
Post by: lexde on March 15, 2018, 08:53:10 AM
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!
Title: Re: Saving to $10K
Post by: Tass on March 15, 2018, 10:18:35 AM
p.s. just noticed I'm almost at my 1 year anniversary on this thread!

And $36k richer for it!
Title: Re: Saving to $10K
Post by: haypug16 on March 15, 2018, 10:28:16 AM
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.
Title: Re: Saving to $10K
Post by: zeli2033 on March 16, 2018, 07:31:02 PM
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...
Title: Re: Saving to $10K
Post by: Imma on March 17, 2018, 05:43:53 AM
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.
Title: Re: Saving to $10K
Post by: Dicey on March 22, 2018, 12:43:08 AM
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.
Title: Re: Saving to $10K
Post by: Manchester on March 22, 2018, 05:47:53 AM
(http://i64.tinypic.com/2ihql3k.png)

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.

(http://i63.tinypic.com/2z8dz11.png)
Title: Re: Saving to $10K
Post by: Trifele on March 22, 2018, 06:00:45 AM
Love the graph Manchester!  Very nice.
Title: Re: Saving to $10K
Post by: haypug16 on March 22, 2018, 08:31:37 AM
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.
Title: Re: Saving to $10K
Post by: zeli2033 on March 22, 2018, 09:25:06 AM
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 !
Title: Re: Saving to $10K
Post by: Imma on March 26, 2018, 12:55:56 PM
Wow Manchester, that's great progress! I love the graph too.
Title: Re: Saving to $10K
Post by: LittleWanderer on March 27, 2018, 08:36:09 AM
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! 
Title: Re: Saving to $10K
Post by: Rimu05 on March 27, 2018, 09:05:20 AM
(http://i64.tinypic.com/2ihql3k.png)

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.

(http://i63.tinypic.com/2z8dz11.png)

Teach us your ways oh great one.
Title: Re: Saving to $10K
Post by: TexasRunner on March 29, 2018, 08:48:56 AM
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.
Title: Re: Saving to $10K
Post by: Imma on March 29, 2018, 11:18:01 AM
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.
Title: Re: Saving to $10K
Post by: fluffmuffin on March 30, 2018, 06:36:14 AM
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
Title: Re: Saving to $10K
Post by: Spruit on March 30, 2018, 09:57:54 AM
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!
Title: Re: Saving to $10K
Post by: zeli2033 on March 30, 2018, 01:25:24 PM
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)
Title: Re: Saving to $10K
Post by: Slanhirn on March 30, 2018, 01:29:23 PM
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!
Title: Re: Saving to $10K
Post by: LittleWanderer on March 30, 2018, 02:34:29 PM
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.  :)
Title: Re: Saving to $10K
Post by: vseddie on March 30, 2018, 03:30:43 PM
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)
Title: Re: Saving to $10K
Post by: OrangeFire on April 02, 2018, 08:04:17 AM
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
Title: Re: Saving to $10K
Post by: Manchester on April 03, 2018, 04:13:47 AM
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! :)
Title: Re: Saving to $10K
Post by: Manchester on April 03, 2018, 04:18:19 AM
(http://i64.tinypic.com/2ihql3k.png)

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.

(http://i63.tinypic.com/2z8dz11.png)

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.  :)
Title: Re: Saving to $10K
Post by: Manchester on April 03, 2018, 04:30:03 AM

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?
Title: Re: Saving to $10K
Post by: Imma on April 03, 2018, 07:58:32 AM

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.
Title: Re: Saving to $10K
Post by: haypug16 on April 03, 2018, 09:16:37 AM
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
Title: Re: Saving to $10K
Post by: Imma on April 03, 2018, 03:10:37 PM
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!!!
Title: Re: Saving to $10K
Post by: Spruit on April 04, 2018, 12:16:52 AM
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!
Title: Re: Saving to $10K
Post by: haypug16 on April 04, 2018, 12:28:16 PM
Thanks Imma. Can't wait to see how I do in year two!
Title: Re: Saving to $10K
Post by: Yasha on April 05, 2018, 05:50:32 AM
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!

(http://i64.tinypic.com/wbxfes.jpg)

(I couldn't figure out how to rotate... sorry!)
Title: Re: Saving to $10K
Post by: zeli2033 on April 06, 2018, 07:12:41 AM
Welcome Yasha! Love the picture you’ve drawn to showcase your progress! Fun way to track how you’re doing on the journey :)
Title: Re: Saving to $10K
Post by: fluffmuffin on April 06, 2018, 12:23:54 PM
Agreed @Yasha...I love the visual! And welcome!
Title: Re: Saving to $10K
Post by: Imma on April 07, 2018, 03:59:09 AM
Wow Yasha, that's fantastic, both the achievement and the hand drawn graph! I love how you even included the red "paid" stamps :)
Title: Re: Saving to $10K
Post by: Yasha on April 07, 2018, 07:13:42 AM
Welcome Yasha! Love the picture you’ve drawn to showcase your progress! Fun way to track how you’re doing on the journey :)

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

Wow Yasha, that's fantastic, both the achievement and the hand drawn graph! I love how you even included the red "paid" stamps :)

Thanks guys! I’m getting a real kick out of colouring in those little boxes and ticking things off as ‘paid’. Coloured in a few more boxes this week and I’ve got the bug now so I’m looking for other ways to bulk up my repayments either by reducing spending or by bringing in a little bit of extra cash – at the moment my side-hustle is collecting cans/bottles on my walks (and raiding the recycle bins in my apartment block) to trade in for 10c a bottle… at the moment I’m averaging $2/week with minimal effort, with a little bit more of an effort, or if I screw up the courage to ask a local business to set aside their cans/bottles for me I could easily up that number.
Title: Re: Saving to $10K
Post by: Manchester on April 10, 2018, 08:55:04 AM
Welcome to the party Yasha!  Good to get more people on the thread! :)
Title: Re: Saving to $10K
Post by: runbikerun on April 10, 2018, 01:19:04 PM
Haven't checked in for a while...up to just over 7,500.
Title: Re: Saving to $10K
Post by: haypug16 on April 13, 2018, 07:39:17 AM
April 13th Update
3/31/2017 (52,848.85)
4/30/2017 (48,076.67)
5/31/2017 (47,110.22)
6/30/2017 (46,540.28)
7/31/2017 (44,354.10)
8/31/2017 (47,236.39)
9/30/2017 (42,436.10)
10/31/2017 (33,346.78)
11/30/2017 $(28,911.53)
12/31/2017 $(24,424.13)
1/31/2018 $(20,454.43)
2/28/2018 $(18,221.63)
3/31/2018 $(14,916.69)
4/13/2018 $(12,620.32) +$2,296.37 Increase

Super happy about this mid-month progress. Throwing all my extra money at Student Loans now that my revolving credit card balances are paid off which feels amazing. Original goal was to get the Loans paid off by Aug 2021 but I think I've shaved a couple months off that date already. Stretch goal would be end of 2020 as that will be 2 years after refinancing. Considering I paid off about half that amount in credit cards in a year it's totally possible to rinse and repeat especially since my interest rates are much lower so more of my payments are going towards principle. Once Student Loans are paid off I'll have like $1.5K+ a month to put towards FIRE!



Zero NW goal - September August 2018
$10K NW goal - December November 2018
Title: Re: Saving to $10K
Post by: Rimu05 on April 13, 2018, 08:39:53 AM
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.

Yet another month has passed and update

Total net worth = -$20,530
Car loan = -$7,511
Student loan = $-27,817
Credit card = -$ 4,143 (Me being bad, and totally coffee and nothing else. I have no excuses)


401K - $12,592 (Seems it went down. :()
Checking - $349
Savings - $6,000

Hopefully, in four months my savings will hit their goal.
Title: Re: Saving to $10K
Post by: fluffmuffin on April 13, 2018, 11:32:44 AM
@Rimu05 good job keeping your savings moving in the right direction!

Have you spent some time thinking through why you keep choosing to buy all of those coffees, even though you know it doesn't help your longer-term goals? I say this as someone who would buy an afternoon coffee every day if I didn't have any financial constraints, and had to throttle down a similar tendency to spend silly money on coffee. I identified the things I wanted to get out of that afternoon coffee (a break from my desk, some sunshine, caffeine, a chance to catch up with a coworker/friend?) and found other ways to get the same result. Are there any easy fixes that you could put in place to be more proactive around this going forward? Saying "I messed up, I have no excuses" is great and all, but what are you going to do differently to make sure that you haven't added another $50 to that credit card next month?
Title: Re: Saving to $10K
Post by: DieHard_772 on April 13, 2018, 12:48:31 PM
Hey all,
I just wanted to cheer you on.
Not too long ago I was in this thread eager to get to $10k networth, a goal that seemed elusive and far off.
It hasn't taken that long and lo and behold we are around $20k now.
Keep the faith and keep moving forward, you are on the right track, your momentum will yield awesome results :)

Title: Re: Saving to $10K
Post by: Rimu05 on April 13, 2018, 03:18:37 PM
@Rimu05 good job keeping your savings moving in the right direction!

Have you spent some time thinking through why you keep choosing to buy all of those coffees, even though you know it doesn't help your longer-term goals? I say this as someone who would buy an afternoon coffee every day if I didn't have any financial constraints, and had to throttle down a similar tendency to spend silly money on coffee. I identified the things I wanted to get out of that afternoon coffee (a break from my desk, some sunshine, caffeine, a chance to catch up with a coworker/friend?) and found other ways to get the same result. Are there any easy fixes that you could put in place to be more proactive around this going forward? Saying "I messed up, I have no excuses" is great and all, but what are you going to do differently to make sure that you haven't added another $50 to that credit card next month?

There is a stupidly easy fix to be honest that just hit me now. I have a thermos. I can just brew a little more coffee  in the morning and put some in the thermos for the afternoon. That's rational me.

Let's see if rational me will prevail this month.
Title: Re: Saving to $10K
Post by: zeli2033 on April 15, 2018, 01:02:39 PM
Love seeing everyone's progress here! So motivating.

Mid-April 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)
4/15/18: (13,183)

Assets [401ks, IRAs, HSA, Cash]: $47,409
Student Loan/CCs: (60,592)

DH is finally able to contribute to retirement at his new job so that's excellent in that we are aiming to max out our 401Ks for the first time but also will adjust how much we're able to put toward the SL each month (which we knew was coming). Consequently, debt pay down may slow up a bit but I imagine we'll still continue to make great progress toward $10k net worth - hoping to hit that within the next 4-6 months pending a few large upcoming expenses
Title: Re: Saving to $10K
Post by: fluffmuffin on April 15, 2018, 07:03:40 PM
@Rimu05 good job keeping your savings moving in the right direction!

Have you spent some time thinking through why you keep choosing to buy all of those coffees, even though you know it doesn't help your longer-term goals? I say this as someone who would buy an afternoon coffee every day if I didn't have any financial constraints, and had to throttle down a similar tendency to spend silly money on coffee. I identified the things I wanted to get out of that afternoon coffee (a break from my desk, some sunshine, caffeine, a chance to catch up with a coworker/friend?) and found other ways to get the same result. Are there any easy fixes that you could put in place to be more proactive around this going forward? Saying "I messed up, I have no excuses" is great and all, but what are you going to do differently to make sure that you haven't added another $50 to that credit card next month?

There is a stupidly easy fix to be honest that just hit me now. I have a thermos. I can just brew a little more coffee  in the morning and put some in the thermos for the afternoon. That's rational me.

Let's see if rational me will prevail this month.

You can do it! And you don’t have to be perfect...even replacing like half of your coffees out will be moving the needle in the right direction.
Title: Re: Saving to $10K
Post by: Manchester on April 16, 2018, 03:12:35 AM
Hey all,
I just wanted to cheer you on.
Not too long ago I was in this thread eager to get to $10k networth, a goal that seemed elusive and far off.
It hasn't taken that long and lo and behold we are around $20k now.
Keep the faith and keep moving forward, you are on the right track, your momentum will yield awesome results :)

Way to go!  The thought of having a £20k liquid net worth seems miles away from me right now.  It's nice to see it is achievable!
Title: Re: Saving to $10K
Post by: Trifele on April 16, 2018, 05:03:26 AM
Hi everybody

Just wanted to stop by to cheer you on as well.  This thread is IMO the most important one.  I was here too, not that long ago.  After this it gets easier, and goes faster.  This stuff works, as long as we keep moving forward.

You've got this!
Title: Re: Saving to $10K
Post by: fluffmuffin on April 16, 2018, 09:18:09 AM
7/13/2017: $2,238.41
8/1/2017: $2,771.40
8/16/2017: $3,071.40
9/1/2017: $3,202.61
9/15/2017: $3,502.63
10/2/2017: $3,807.67
10/16/2017: $4,021.00
11/1/2017: $4,121.00
11/16/2017: $4,208.73
12/1/2017: $4,267.73
12/15/2017: $4,532.82
12/30/2017: $4,864.78
1/16/2018: $8,114.78
2/2/2018: $8,424.59
2/19/2018: $8,431.24
3/30/2018: $8,614.89
4/16/2018: $8,742.36

Wedding season is upon me. I hopefully over-budgeted ~$100 into the "weddings" category this month for my BFF's bachelorette weekend after next...fingers crossed that I can move that back over into the house fund. I can't think of anything we have planned that I would need it for? But it's in NYC where everything costs 8 million dollars so I wanted to give myself a cushion.

My savings rate is not where I would want it to be right now. Thoughts on why:
Title: Re: Saving to $10K
Post by: lemonverbena on April 16, 2018, 04:47:05 PM

Late Feb:
SEP IRA: $3548
tIRA: $4165
Emergency fund: $1000
Roof loan: -$1267
Car loan: -$2730
Hospital bill: -$1523

Total: $3193

Mid-Apr:
SEP IRA: $3539
tIRA: $4126
Emergency fund: $1000
Roof loan: $0
Car loan: $0
Hospital bill: -$1260

Total: $7405
Title: Re: Saving to $10K
Post by: Tass on April 16, 2018, 04:51:26 PM

Late Feb:
SEP IRA: $3548
tIRA: $4165
Emergency fund: $1000
Roof loan: -$1267
Car loan: -$2730
Hospital bill: -$1523

Total: $3193

Mid-Apr:
SEP IRA: $3539
tIRA: $4126
Emergency fund: $1000
Roof loan: $0
Car loan: $0
Hospital bill: -$1260

Total: $7405

Heyyy check out those paid off loans!
Title: Re: Saving to $10K
Post by: Rimu05 on April 17, 2018, 02:08:04 PM
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.

Yet another month has passed and update

Total net worth = -$20,530
Car loan = -$7,511
Student loan = $-27,817
Credit card = -$ 4,143 (Me being bad, and totally coffee and nothing else. I have no excuses)


401K - $12,592 (Seems it went down. :()
Checking - $349
Savings - $6,000

Hopefully, in four months my savings will hit their goal.

Seems my 401K account hadn't been updated by mint so it's actually at
13,046
Also, I get my net worth from mint and it doesn't include my HSA because I cannot add it on mint
HSA - 291.62
Actually officially opened my Roth IRA because I was too lazy to go through the compliance process, but compliance approved, and I can now start putting money there.
Title: Re: Saving to $10K
Post by: DieHard_772 on April 17, 2018, 08:39:45 PM
My IRAs (roth and traditional) are about to reach $10k for the first time 
BAM!
Title: Re: Saving to $10K
Post by: zeli2033 on April 18, 2018, 07:24:03 AM
My IRAs (roth and traditional) are about to reach $10k for the first time 
BAM!

That is awesome. CONGRATULATIONS!
Title: Re: Saving to $10K
Post by: Trifele on April 18, 2018, 09:46:15 AM
My IRAs (roth and traditional) are about to reach $10k for the first time 
BAM!

You rock DieHard!!
Title: Re: Saving to $10K
Post by: DieHard_772 on April 18, 2018, 03:21:03 PM
Thank you @Trifele and @zeli2033.  I just dumped a little more in there to push it over the edge!

It was about exactly 3 years ago that I started my first IRA.  A part of me feels a bit sheepish that
it took me 3 years tobuild it to $10k (with the help of the market, of course), but on the other hand, that's
more than I ever had invested before.  The next $10k will come even faster....
Title: Re: Saving to $10K
Post by: Manchester on April 23, 2018, 03:44:26 AM
Here's my monthly update and I've gone backwards!

Basically it's my S/O's payday on Wednesday (her first one since December) and mine on Friday.  So this should change significantly now we're back on two wages.  I've had to lend her around £800 this month which would have kept me going in the right direction, but hey ho.  Both my savings and investments are up (slightly).  My credit card is still at £0.  So it's only my current account which isn't the end of the world. 

(http://i65.tinypic.com/2a3s6h.png)

You can all expect some serious changes from my next update, onwards.  I've gone to a 10% pension contribution match at work.  I'll have more help paying household bills and I'm getting a big payrise.  I was going to start investing into vanguard, but my S/O and I have agreed it makes sense to bump our savings to make any future financial issues more comfortable.  We still have some big expenses coming out next month, but we've planned for them so I hope they don't hold me back too much.
Title: Re: Saving to $10K
Post by: LittleWanderer on April 23, 2018, 09:04:08 AM
My IRAs (roth and traditional) are about to reach $10k for the first time 
BAM!

NICE!  :)  I can't wait for that day!  5 digits invested is a huge milestone.  Woo hoo!
Title: Re: Saving to $10K
Post by: runbikerun on April 25, 2018, 12:14:50 AM
Up to 8,136. If all goes well, I should be hitting the 10k mark at the end of July.

I have to say, this thread and the target it represents has been an excellent motivator. I just looked at my first post and saw that I started off saving 420 a month and hoped to hit 10k in October of this year. It's now at 620 a month, is knocking on for three months ahead of schedule, and I'm not feeling any more constrained financially.
Title: Re: Saving to $10K
Post by: Trifele on April 25, 2018, 05:22:42 AM
Up to 8,136. If all goes well, I should be hitting the 10k mark at the end of July.

I have to say, this thread and the target it represents has been an excellent motivator. I just looked at my first post and saw that I started off saving 420 a month and hoped to hit 10k in October of this year. It's now at 620 a month, is knocking on for three months ahead of schedule, and I'm not feeling any more constrained financially.

This is great @runbikerun!!  I found the same thing -- once I started tracking, saving got easier and faster.  Since I joined the forum a few years back I have hit most of my goals early.  Congrats on the progress!
Title: Re: Saving to $10K
Post by: DieHard_772 on April 25, 2018, 12:02:07 PM
My IRAs (roth and traditional) are about to reach $10k for the first time 
BAM!

NICE!  :)  I can't wait for that day!  5 digits invested is a huge milestone.  Woo hoo!

It is done, @MSquared ... it's literally being manifested as we type these posts!
Before you know it, it will be there...

I still remember back when having 4 digits invested seemed like a big deal!
Title: Re: Saving to $10K
Post by: Trifele on April 25, 2018, 12:47:59 PM
My IRAs (roth and traditional) are about to reach $10k for the first time 
BAM!

NICE!  :)  I can't wait for that day!  5 digits invested is a huge milestone.  Woo hoo!

It is done, @MSquared ... it's literally being manifested as we type these posts!
Before you know it, it will be there...

I still remember back when having 4 digits invested seemed like a big deal!

Nice job DieHard!!  So begins the journey to the next digit!
Title: Re: Saving to $10K
Post by: DieHard_772 on April 26, 2018, 10:27:03 AM

Nice job DieHard!!  So begins the journey to the next digit!

Yes!!
Thanks @Trifele
Title: Re: Saving to $10K
Post by: LittleWanderer on April 30, 2018, 08:02:16 AM
End of April update:

Emergency fund: $5423

Well, I went slightly down this month because I have a chunk of money tied up in security deposits.  We're moving in May, so I had to put money down on the new place, but I won't get my deposit back from the old place until sometime in June.  I'll be heading back down again in May due to my LAST big dental bill for the year.  Fingers crossed June is my turning point and I can have a upward trend again for a long time. 
Title: Re: Saving to $10K
Post by: Imma on April 30, 2018, 10:19:41 AM
Savings:
July 31:                 €2400
August 30:            €2000
September 27:       €1300
October 30:           €1400
November 30:        €1600
December 29:        €1100
February 1:            €1100
February 28:          €1300
March 29:              €1300
April 30:                  €800

Investments:
July 31:                 €1985.37
August 30:             €2095.00
September 27:       €2253
October 30:           €2461
November 30:        €2622.06
December 29:        €2661.50 (didn't do the monthly transfer yet)
February 1:            €3021,56
February 29:          €3101,58
March 29:              €3160,54
April 30:                €3439.66

Total:
July 31:                  €4385.37
August 30:              €4095.00
September 27:        €3553
October 30:             €3861
November 30:          €4222.06
December 29:          €3761,50 (+ 740 unpaid salary = 4501.50 )
February 1:             €4121,60
February 29:           €4401,58
March 29:               €4460,54 
April 30:                 €4239.66

Goals for 31 December 2018:

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

Still waiting on a few big payments, total about €2500, that I should all receive before 1 July. In the meantime, had to pay tuition for a course to be admitted to a Master's programme in September and forgot to apply for a student loan in time. It's tax deductible but of course I don't get that money back until this time next year. Worked a lot of overtime this month but won't get paid for it until next month. Good news on the horizon, but I'm starting to get impatient now.
Title: Re: Saving to $10K
Post by: TexasRunner on April 30, 2018, 11:14:49 AM
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'.

(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'.
(End of April)
Current status:
45.7% Savings Rate This Month.
Total Net Worth:  +$38,077.08
Liquid Net Worth:  ($4,810.24)
Days Bought:  26.00

Its an additional +$2,531.11 to the net worth and an additional +$2,301.92 net worth not tied up in equity. And an additional 1.73 days 'bought'.

Title: Re: Saving to $10K
Post by: haypug16 on April 30, 2018, 04:07:29 PM
April 30th Update
3/31/2017 (52,848.85)
4/30/2017 (48,076.67)
5/31/2017 (47,110.22)
6/30/2017 (46,540.28)
7/31/2017 (44,354.10)
8/31/2017 (47,236.39)
9/30/2017 (42,436.10)
10/31/2017 (33,346.78)
11/30/2017 $(28,911.53)
12/31/2017 $(24,424.13)
1/31/2018 $(20,454.43)
2/28/2018 $(18,221.63)
3/31/2018 $(14,916.69)
4/30/2018 $(9,800.88) +5,115.81 increase and I'm out of the neg five digits! Super happy about this month. Should easily hit the $10K goal by November now (maybe sooner? who knows) I'm sticking with my monthly $3K increase as a goal since not every month is going to be a $5K month but $3K seems to be  fairly consistent.



Zero net worth goal - August 2018
$10K net worth goal - November 2018
Title: Re: Saving to $10K
Post by: DieHard_772 on April 30, 2018, 06:27:19 PM
April 30th Update
3/31/2017 (52,848.85)
4/30/2017 (48,076.67)
5/31/2017 (47,110.22)
6/30/2017 (46,540.28)
7/31/2017 (44,354.10)
8/31/2017 (47,236.39)
9/30/2017 (42,436.10)
10/31/2017 (33,346.78)
11/30/2017 $(28,911.53)
12/31/2017 $(24,424.13)
1/31/2018 $(20,454.43)
2/28/2018 $(18,221.63)
3/31/2018 $(14,916.69)
4/30/2018 $(9,800.88) +5,115.81 increase and I'm out of the neg five digits! Super happy about this month. Should easily hit the $10K goal by November now (maybe sooner? who knows) I'm sticking with my monthly $3K increase as a goal since not every month is going to be a $5K month but $3K seems to be  fairly consistent.



Zero net worth goal - August 2018
$10K net worth goal - November 2018

Most impressive
Congrats @haypug16
Title: Re: Saving to $10K
Post by: Manchester on May 01, 2018, 02:48:24 AM
In the meantime, had to pay tuition for a course to be admitted to a Master's programme in September and forgot to apply for a student loan in time.


So you're going for a Master's?   That's GREAT news!  I know it was something you were considering for quite a while.  :)
Title: Re: Saving to $10K
Post by: Trifele on May 01, 2018, 04:31:34 AM
April 30th Update
3/31/2017 (52,848.85)
4/30/2017 (48,076.67)
5/31/2017 (47,110.22)
6/30/2017 (46,540.28)
7/31/2017 (44,354.10)
8/31/2017 (47,236.39)
9/30/2017 (42,436.10)
10/31/2017 (33,346.78)
11/30/2017 $(28,911.53)
12/31/2017 $(24,424.13)
1/31/2018 $(20,454.43)
2/28/2018 $(18,221.63)
3/31/2018 $(14,916.69)
4/30/2018 $(9,800.88) +5,115.81 increase and I'm out of the neg five digits! Super happy about this month. Should easily hit the $10K goal by November now (maybe sooner? who knows) I'm sticking with my monthly $3K increase as a goal since not every month is going to be a $5K month but $3K seems to be  fairly consistent.



Zero net worth goal - August 2018
$10K net worth goal - November 2018

@haypug16  you rock!  Fantastic progress!
Title: Re: Saving to $10K
Post by: OrangeFire on May 01, 2018, 05:15:25 AM
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

April:
Checking account: €2095.95
Saving account: €3000
Investment: €2007.78
Total: €7103.66

Because of technical issues my rent wasn't deducted last week of April and will instead be deducted the first week of May, so these numbers are slightly inflated.
Nonetheless, it was a great month, I've made some progress towards reducing groceries spending, goal this month is to keep groceries below €250,-.
At the current pace I'll be here for 2-3 months more, but I got some big expenses coming up, so I think 4-6 months is more realistic.
Title: Re: Saving to $10K
Post by: fluffmuffin on May 01, 2018, 12:53:12 PM
Love all of the positive progress folks are having! Way to go!

I'm still not where I want to be, but did better this paycheck than I did in March or April. Things are getting back on track after all of the wedding/bachelorette stuff, but not as quickly as I'd like them to.

7/13/2017: $2,238.41
8/1/2017: $2,771.40
8/16/2017: $3,071.40
9/1/2017: $3,202.61
9/15/2017: $3,502.63
10/2/2017: $3,807.67
10/16/2017: $4,021.00
11/1/2017: $4,121.00
11/16/2017: $4,208.73
12/1/2017: $4,267.73
12/15/2017: $4,532.82
12/30/2017: $4,864.78
1/16/2018: $8,114.78
2/2/2018: $8,424.59
2/19/2018: $8,431.24
3/30/2018: $8,614.89
4/16/2018: $8,742.36
5/1/2018: $8,905.80
Title: Re: Saving to $10K
Post by: Manchester on May 02, 2018, 02:39:16 AM
Love all of the positive progress folks are having! Way to go!

I'm still not where I want to be, but did better this paycheck than I did in March or April. Things are getting back on track after all of the wedding/bachelorette stuff, but not as quickly as I'd like them to.

7/13/2017: $2,238.41
8/1/2017: $2,771.40
8/16/2017: $3,071.40
9/1/2017: $3,202.61
9/15/2017: $3,502.63
10/2/2017: $3,807.67
10/16/2017: $4,021.00
11/1/2017: $4,121.00
11/16/2017: $4,208.73
12/1/2017: $4,267.73
12/15/2017: $4,532.82
12/30/2017: $4,864.78
1/16/2018: $8,114.78
2/2/2018: $8,424.59
2/19/2018: $8,431.24
3/30/2018: $8,614.89
4/16/2018: $8,742.36
5/1/2018: $8,905.80

It's ANOTHER month in the right direction though.  You've got a 100% record!  You're so close now and you'll be out of here in no time.
Title: Re: Saving to $10K
Post by: Manchester on May 02, 2018, 02:45:01 AM
Hello!


Because of technical issues my rent wasn't deducted last week of April and will instead be deducted the first week of May, so these numbers are slightly inflated.
Nonetheless, it was a great month, I've made some progress towards reducing groceries spending, goal this month is to keep groceries below €250,-.
At the current pace I'll be here for 2-3 months more, but I got some big expenses coming up, so I think 4-6 months is more realistic.

It's good to hear you're making progress reducing your shopping bill.  Considering you started here in January, completing this challenge within 4-6 months from now is still impressive.  2-3 months, even better!  Increasing your N/W by 2K Euros a month is brilliant, despite any technical errors.
Title: Re: Saving to $10K
Post by: fluffmuffin on May 02, 2018, 05:45:49 AM
It's ANOTHER month in the right direction though.  You've got a 100% record!  You're so close now and you'll be out of here in no time.

Thanks @Manchester. Can you tell I'm kind of a perfectionist...

So, the bachelorette firehose of money continues. We were settling up over email last night, and I ended up owing one of the other women $20. Because she bought an extra round of drinks that no one wanted (seriously, they sat there untouched by anyone except her), and a bunch of decorations that I told her not to get. She's one of my oldest friends, and I keep reminding myself that our friendship is worth (a lot) more to me than $20...but I'm SO OVER spending money on this stupid nonsense! The thing that made the weekend special for my BFF (the one who's getting married) wasn't stupid balloons, it was spending time celebrating with her best friends. I hate this BS where you have to have kitschy, throw-away plastic trinkets in order for a celebration to be real.
Title: Re: Saving to $10K
Post by: haypug16 on May 02, 2018, 06:35:25 AM
Thanks everyone. I'm super proud of myself :)

Congrats everyone else trucking along. We will get there.
Title: Re: Saving to $10K
Post by: Imma on May 02, 2018, 11:38:22 AM
In the meantime, had to pay tuition for a course to be admitted to a Master's programme in September and forgot to apply for a student loan in time.


So you're going for a Master's?   That's GREAT news!  I know it was something you were considering for quite a while.  :)

Yes, I've finally made up my mind! I'm sick and tired of my current job, and I've been looking around for a new job, but the jobs I want all require a Master's. I've decided to take advantage of the two perks that my current job offers: I'm paid very well for what I do and my schedule is flexible enough to allow me to study. Even though I'm not particularly looking forward to all the work involved, I feel like the circumstances might be less than ideal in a few years and I do want to do a Master's eventually. Might as well do it now, suck it up at the current workplace for another 1,5 years and go find a really good job next summer when I'm (hopefully) Imma LL.M.
Title: Re: Saving to $10K
Post by: fluffmuffin on May 02, 2018, 02:20:32 PM
Yes, I've finally made up my mind! I'm sick and tired of my current job, and I've been looking around for a new job, but the jobs I want all require a Master's. I've decided to take advantage of the two perks that my current job offers: I'm paid very well for what I do and my schedule is flexible enough to allow me to study. Even though I'm not particularly looking forward to all the work involved, I feel like the circumstances might be less than ideal in a few years and I do want to do a Master's eventually. Might as well do it now, suck it up at the current workplace for another 1,5 years and go find a really good job next summer when I'm (hopefully) Imma LL.M.

Good luck, Imma! Sounds a lot like my decision to get my Masters...I just couldn't get the jobs I wanted without the stupid piece of paper. Sometimes you just gotta suck it up. It's so fantastic that you can keep working in your current position while you're in school!
Title: Re: Saving to $10K
Post by: Yasha on May 03, 2018, 10:06:36 PM
Today we hit $1000 ‘oh shit’ fund, this means that now we can funnel $250 a fortnight into paying of honeymoon debt faster. I’m so excited to watch those numbers start dropping like crazy!
Title: Re: Saving to $10K
Post by: Manchester on May 04, 2018, 07:27:31 AM
Imma LL.M has a nice ring to it!  Could be your new username? :P

Nice Yasha!  I can't wait to reach my E/F target so I can start smashing my investments. 
Title: Re: Saving to $10K
Post by: bcbaseballman on May 04, 2018, 11:39:18 AM
Hello all,

I figured this is a good place for me to start. I am 28 years old and thought I was doing good overall and then I calculated my net worth and was disappointed. Here is my current simple breakdown:

Assets (Savings account, IRA, Home Equity): $51,406.27
Liabilities (Student Loans, Car): $53,998.34

Total Net Worth: ($2,592.07)

Have a good day!
Title: Re: Saving to $10K
Post by: TexasRunner on May 04, 2018, 12:04:36 PM
Hello all,

I figured this is a good place for me to start. I am 28 years old and thought I was doing good overall and then I calculated my net worth and was disappointed. Here is my current simple breakdown:

Assets (Savings account, IRA, Home Equity): $51,406.27
Liabilities (Student Loans, Car): $53,998.34

Total Net Worth: ($2,592.07)

Have a good day!

Its where we all start!  :)

Welcome to the group.
Title: Re: Saving to $10K
Post by: Imma on May 04, 2018, 02:39:59 PM
Hello all,

I figured this is a good place for me to start. I am 28 years old and thought I was doing good overall and then I calculated my net worth and was disappointed. Here is my current simple breakdown:

Assets (Savings account, IRA, Home Equity): $51,406.27
Liabilities (Student Loans, Car): $53,998.34

Total Net Worth: ($2,592.07)

Have a good day!

Welcome! And with a net worth that's only just below zero, you're not doing that bad at all.
Title: Re: Saving to $10K
Post by: Manchester on May 08, 2018, 03:00:58 AM
Hello all,

I figured this is a good place for me to start. I am 28 years old and thought I was doing good overall and then I calculated my net worth and was disappointed. Here is my current simple breakdown:

Assets (Savings account, IRA, Home Equity): $51,406.27
Liabilities (Student Loans, Car): $53,998.34

Total Net Worth: ($2,592.07)

Have a good day!

Hi, welcome to the thread.

What's your plan of action?  What interest rate are your loans etc?  You're not in a bad position, especially considering you're just starting out. 

:)
Title: Re: Saving to $10K
Post by: DieHard_772 on May 08, 2018, 11:20:23 AM
I just want to thank everyone on this thread for being here...
As much as I love MMM, it has often been disheartening to be on this forum
when i see people who so nimbly seem to add tens of thousands of dollars to their
networth every year, or HUNDREDS of thousands for that matter.

As much as I like the idea behind MMM and aim to live true to it, there are
simple facts that I am working with, namely:
1) I run a bu