The Money Mustache Community
General Discussion => Throw Down the Gauntlet => Topic started by: Gardo on November 17, 2016, 06:57:44 AM
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to be able to join the thread "Race from 10 to 100K".
Who wants to join? :)
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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.
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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
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Im in.
[Nov 2016] $214.01
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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
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I'm in too. current balance is $26.36. next deposit will be the middle of january.
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We are talking cash or retirement savings from $0.00 to $10,000.00 correct? If so, I'm in!
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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
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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.
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Commenting to join! I will come back this evening and update my numbers once I get home from work and have access to them.
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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!
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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
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Nov 2016 $214.01
Dec 2016: $864.14
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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!
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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!
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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
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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
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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.
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I am hardcore in. This will be my emergency fund
Currently January 2016:
Saved $1,800/$10,000
A slow yet steady journey.
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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!
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I'm in. My net worth as of now is -1915 euro. Aim to be at 10k by October 2016
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I'm in. My net worth as of now is -1915 euro. Aim to be at 10k by October 2016
Awesome!
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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!)
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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.
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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.
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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!
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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!
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Joining here as well!
Goal: Roth: 5500
Savings: $5000
Dec 2016 - Opened Roth IRA - current balance $1458
savings account - $100
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Joining here as well!
Goal: Roth: 5500
Savings: $5000
Dec 2016 - Opened Roth IRA - current balance $1458
savings account - $100
yeah!
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Dropping by to cheer you on! Hit this milestone last year and it is incredible what it does for your outlook, motivation and snowball!
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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!)
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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...
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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
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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
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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
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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
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My IRAs: $4878
Money for Investing: $278
Savings account: 1113
Other savings: $327
HSA: $251
my wife IRA:$534
TOTAL: $7371
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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
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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
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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! :)
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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
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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!
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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!
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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!
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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.
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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!
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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
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You guys are all doing great!
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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!
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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
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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)
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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!!
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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)
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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.
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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.
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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. :)
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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
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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.
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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.
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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
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Way to hang in there Mathstache! You can do this!
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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.
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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
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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!
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DieHard! You are almost there! Way to go!
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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
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DieHard! You are almost there! Way to go!
THANK YOU!
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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!
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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!
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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!
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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.
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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). :)
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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.
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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.
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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
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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!
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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). :-)
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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.
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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
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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!
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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
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Welcome Independence! Love your user name. :)
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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.
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Welcome Independence! Love your user name. :)
Thank you! Getting there slowly but surely :)
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($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)
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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.
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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! :)
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@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!
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TGIF!! How is everyone doing?
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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.
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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.)
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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
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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!
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Thanks, DieHard, and same to you. You have made huge strides!
Thank you. Bit by bit
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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.
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Welcome to the club dreaming!
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Stopping by to tell y'all great job! Keep it going!
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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
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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!
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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.
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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)
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Whoa DieHard!! Nice progress in less than a month! Sooo close!
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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.
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Whoa DieHard!! Nice progress in less than a month! Sooo close!
thank you :)
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See you in the next thread soon. ;)
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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)
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Welcome, haypug16!
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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.
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How's everyone doing? Hopefully March was good for the 'staches
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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. ;)
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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
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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
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@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!
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Ouch! Dental bills! In the last three years, we have spent half as much on dental bills as on food. Ugh.
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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.
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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
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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)
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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
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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.
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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!
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($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!
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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.
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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.
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@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!
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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!
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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!)
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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.
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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.
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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
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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!
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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.
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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
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My stats for April 2017:
Current Debt (CC mostly)= $400
Savings (All) = $3400
Net Worth = $3000
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Welcome to the forum CollegeRaven!
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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. :)
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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...
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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.
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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
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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.
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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!
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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.
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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
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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!
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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!!!! :)
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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!!!
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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!
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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
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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!
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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
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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. :(
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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.
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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.
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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!
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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
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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
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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
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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!
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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.
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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.
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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.
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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.
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You'll probably be asked to loan more money in the future if you don't set good boundaries now.
Yeeeeeesssssss
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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! :)
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Put my entire bonus in the savings account. I'm half way there! $5243
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Put my entire bonus in the savings account. I'm half way there! $5243
Nice job!
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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)
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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.
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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 ;)
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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)
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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!
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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
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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!
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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.
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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!
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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.
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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?
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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.
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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.
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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
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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
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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
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End of May update:
Emergency fund: $3766
401k: $783
TOTAL: $4549
Onward and upward next month!
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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?
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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!
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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!
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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.
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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
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Woo Hoo DieHard!! Congratulations!
Thanks Trifele
It means a lot.
A few years ago, even this milestone seemed so far away.
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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! ;)
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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.
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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.. ;)
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Today I saw that, combined, our investments are only a few hundred under $10,000... for the first time ever
:)
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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
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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!
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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!
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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)
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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. :)
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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!
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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.
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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!
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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!
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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)
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($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!
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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. ;)
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Joining in. Currently working towards a positive net worth.
Debts = (35,803.96)
Assets = 5412.64
Total = (30391.30)
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Welcome Bella78!
There are lots of us that started way further in the negative. You've totally got this!
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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.
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Welcome, RunBikeRun!
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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.
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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!
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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
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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!
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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
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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 :)
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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!
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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
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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!
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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.
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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.
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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!
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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!
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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!
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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!
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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!
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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)
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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.
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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....)
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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.
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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.
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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.
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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.
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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 :)
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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
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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!
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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.
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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.
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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
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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.
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Welcome Imma! Great to see folks from all over the world on the thread.
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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.
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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
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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.
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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.
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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.
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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.
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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.
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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.
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Way to make it over the 5,000 hump, runbikerun!
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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.
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Congratulations on getting to $5000, runbikerun and Tess! I hope to join you in a couple of months.
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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....)
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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.
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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.
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$28/week, Tass? You can definitely do it!
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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.
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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 $$ out. Only another couple weeks of gas guzzling for me.
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It's going to take me /slightly/ longer than expected to reach 0 net worth and subsequently $10k net worth. I'm about to move for the 4th time in the past 13 months or so. Hopefully a bit more permanent this time.
The pet fee is $600 for two cats + $40 per month (ouch!) but the security deposit should be only $200. My current roommate/landlord is kicking me out earlier than my friend can move in to the new place so that's going to cost me more as well. All in all though, I will be driving 38 miles less each day to work than I did a few months ago, which is HUGE. If I estimate 30 cents a mile, that's a savings of $2850 a year. I tried for half a year to find a place within biking distance with no luck, but I possibly could do the 18 mile commute by e-bike or drive half, ride half. The sucky thing is that the commute is actually further on the bike than by car in terms of miles.
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I'm doing my research to buy a bike at the moment, which will hopefully help me eke those $$ 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.
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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!
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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.
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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!
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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!
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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!!
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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.
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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.
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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.
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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!
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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!
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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?
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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. :)
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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.
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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!
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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.
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^ + 1 What Imma said!
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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.
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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.
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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!
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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.
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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!
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And the debt still decreased, so that's a plus!
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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!
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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.
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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!
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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.
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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.
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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/
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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.
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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.
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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.
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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!
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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!
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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.
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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.
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The Trek FX is a perfect choice for a commuter! Nice job on the bikes, everyone! I'm going bike camping this weekend, myself. :)
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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.
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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!
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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 :)
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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
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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!
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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.
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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.
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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!
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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.
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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.
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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!
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[/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.
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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!
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Congratulations Marielle! Big milestone!
How is everyone else doing? Let's finish August strong!
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Way to go, Marielle! That's huge!
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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.
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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!
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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!
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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....)
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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?" .
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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.
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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
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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 -
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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!
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Congratulations, without_a_map! Two big milestones at the same time.
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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
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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.
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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.
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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!
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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.
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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!
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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.
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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.
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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!
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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.
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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 :).
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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.
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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
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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?
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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.
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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!
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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...
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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!
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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?
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$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.
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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.
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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.
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I'm in Europe, so the circumstances are different
That really doesn't begin to cover the mess that is American healthcare. Alas.
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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!
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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.
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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?
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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!
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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.
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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!
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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!
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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.
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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
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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.
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For the first time ever, our assets minus liabilities add up to over $10,000 :)
Onward and upward
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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.
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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! :)
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For the first time ever, our assets minus liabilities add up to over $10,000 :)
Onward and upward
Yay, DieHard!!! :) Congratulations!
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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.)
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For the first time ever, our assets minus liabilities add up to over $10,000 :)
Onward and upward
Congrats! Well done!
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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?
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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
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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
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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!
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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
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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.
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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!
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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!
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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!
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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
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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.
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Joining the party.
Sept 30, 2017
Assets: $2756.11
Liabilities: $2168.72 (2k of which is a student loan)
Net Worth: $587.39
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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!
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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.
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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. :)
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For the first time ever, our assets minus liabilities add up to over $10,000 :)
Onward and upward
Woohoo!!! Congrats!!!!
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For the first time ever, our assets minus liabilities add up to over $10,000 :)
Onward and upward
Woohoo!!! Congrats!!!!
Thank you!
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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!
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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!
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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.
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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.
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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.)
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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...
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Also, on a side note, just yesterday my IRAs reached over $8000 for the first time :)
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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.
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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.
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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.
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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.
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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.
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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." :)
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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.
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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?
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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.
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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.
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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.
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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. :)
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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!
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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.
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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.
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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 ;)
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Hopping on the band wagon late, but better than never.
October Savings: $453.64
Invested: $225.00
Total: $678.64
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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)
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Hopping on the band wagon late, but better than never.
October Savings: $453.64
Invested: $225.00
Total: $678.64
Welcome!
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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.
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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. :)
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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!
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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.
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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
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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!
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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.
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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.
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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.
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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!!!
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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.
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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
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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!
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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.
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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!
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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. ;)
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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.
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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
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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.
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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.
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This is a very inspiring thread. Keep up the good work, everyone!
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This is a very inspiring thread. Keep up the good work, everyone!
Definitely is!
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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
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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.
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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.
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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.
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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
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Thanks DieHard. I'll be so nice when the only interest I'm looking at is interest that I'm earning! :)
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Thanks DieHard. I'll be so nice when the only interest I'm looking at is interest that I'm earning! :)
Yeeeeeeeees, well said
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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.
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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!
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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!
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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....)
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Woo hoo, positive net worth!!! Congrats, JanetJackson! I wouldn't be in a hurry to pay off those student loans at those interest rates.
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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!
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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!
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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?
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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!
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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
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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!
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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.
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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.
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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.
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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?
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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.)
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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
-
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.
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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.
-
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?
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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.
-
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.
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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.
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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.
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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.
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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?
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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!
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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!
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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.
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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
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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.
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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...
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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.
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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.
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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!
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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!
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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).
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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.
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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.
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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.
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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?
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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.
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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!
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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!
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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.
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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!
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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.
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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!
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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!
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Way to go twocats! Getting those four digits is gonna be an awesome feeling :)
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Well done, twocatsinaflat! You're soooooo close.
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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.)
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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 :)
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Boom.
https://forum.mrmoneymustache.com/throw-down-the-gauntlet/start-biking-to-work-cycling-newbies-chat/
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Current savings: 130$
Going to ramp this up asap.
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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.
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Yay Tass! 5 digits!!!
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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
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And welcome to Jesus. Your first post is in the right place to start building from the ground up!
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Awesome job, Tass! December 8 is so close that you can almost taste it :)
And another welcome to Jesus!
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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
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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!
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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
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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!
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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 :)
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Well done Haypug, another month in the right direction.
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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 :)
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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.)
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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.
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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.
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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.
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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?
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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
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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.
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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.
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Hooray for the positive net worth, Manchester!
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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.
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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.
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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. :)
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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.
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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. :)
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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 ;)
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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!
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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!!
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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.
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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.
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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.
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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.
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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!
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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!
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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!
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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).
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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!
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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 .....
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@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.
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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.
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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
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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.
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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.
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Oh no, I'm sorry, Manchester! It's good to hear that you have a plan and will be okay though.
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Sorry to hear that Manchester. Good luck with the overtime and with GF getting a new job.
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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.
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Congrats Tass! Pending transactions always seem to take forever when you really want them to clear.
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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.
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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. :)
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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)
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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!
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October: -$72,100
November: -$69,400
By the end of the year I should be close to halfway out of a negative net worth!
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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)
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Welcome Lexde. love the graph! Also great job increasing your net-worth $32K in just over a year!
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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.
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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.
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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
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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.
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Welcome Spruit! :) Another Dutchie here.
You have a LOT of money saved up for someone on your income! Well done.
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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!
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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.
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@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.
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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.
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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.
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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.
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Hi and welcome!
It's great that you already wiped out debt and can begin with a clean slate now. Good luck.
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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.
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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!
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to be able to join the thread "Race from 10 to 100K".
Who wants to join? :)
I am in for the race.
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..., 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.
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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 :)
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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.
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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!
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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.
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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.
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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.
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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.
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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!
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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.
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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.
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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
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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 :).
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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.
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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!
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...
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. :)
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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
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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.
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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. :)
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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.
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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
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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!
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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...
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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.
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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.
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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.
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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!
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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.
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does my $12k in my 401k count?
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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.
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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.
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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.
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Thank you, Imma! You all keep me so motivated!
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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.
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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
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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.
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@lexde That is a great graph! Well done!
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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
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@lexde That is a great graph! Well done!
Thanks! I use YNAB to track everything, and really like it's NW graph feature. :-)
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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).
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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.
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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.
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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.
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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.
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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.
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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.
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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!
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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.
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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.
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@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.
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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.
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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.
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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.
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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.
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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!!!
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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!!
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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.
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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.
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Good job everyone!
BTW Often I think this thread is my favorite thread...
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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.
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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.
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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.
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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.
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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.
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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!
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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.
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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.
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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
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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
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Welcome @Lichen and congratulations to the newest graduates! May the road to your next $90k be swift and painless :)
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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%
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Well done graduates and hi to new members!
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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 :)
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That’s excellent, fluffmuffin! Love it when financial magic works out :)
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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!
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Welcome and good luck!
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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! :)
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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.
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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!
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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.
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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!
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Welcome new folks and congrats marielle! :) It's good to hear about puppies and financial magic too!
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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.
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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
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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!
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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 :)
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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.
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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
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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..)
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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.
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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.
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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...
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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.
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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!
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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.
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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.
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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!
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Welcome, onthedollar! You got here early in life, which is super commendable! Looks like you're on a great path.
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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.
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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
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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.
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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.
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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. :)
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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!
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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 :) )
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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.
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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.
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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.
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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!
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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. :)
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Yah I didn't mean to be doling out market advice. Just cheerful takes on the situation. :) Frustration in this circumstance makes sense, though.
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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 :)
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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...
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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 :)
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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.
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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!
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@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 :)
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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!
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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!
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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.
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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. :-)
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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.
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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
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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.
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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
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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.
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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.
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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.
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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.
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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/
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Thanks for sharing that link Trifele. :)
Can't wait for all of us to reach that level!
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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.
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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.
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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
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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!
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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 :)
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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. :-)
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Good luck studying, onthedollar. And have a nice trip Lexde!
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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!!!!
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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)
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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
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February update :)
Savings
Jan 1st $0
Jan 31st $2628
Feb 28th $5254.40 (+$2626.40)
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Current net worth : ~470€ .
Per aspera ad astra. ;)
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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!)
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Per aspera ad astra. ;)
I like this. Going to learn how to cross-stitch, just so I can put that on a pillow. :)
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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!!!!
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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
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Nice to see everyone moving in the right direction. We'll get there!
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@texasrunner — you’re so close!!
Sent from my iPhone using Tapatalk
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@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.
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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.
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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.
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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.
:)
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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!
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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!
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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 :)
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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!
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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.
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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!
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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.
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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.
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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
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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!
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p.s. just noticed I'm almost at my 1 year anniversary on this thread!
And $36k richer for it!
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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.
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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...
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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.
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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.
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(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)
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Love the graph Manchester! Very nice.
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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.
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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 !
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Wow Manchester, that's great progress! I love the graph too.
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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!
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(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.
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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.
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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.
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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
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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!
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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)
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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!
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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. :)
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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)
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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
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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! :)
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(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. :)
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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?
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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.
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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
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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!!!
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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!
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Thanks Imma. Can't wait to see how I do in year two!
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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!)
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Welcome Yasha! Love the picture you’ve drawn to showcase your progress! Fun way to track how you’re doing on the journey :)
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Agreed @Yasha...I love the visual! And welcome!
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Wow Yasha, that's fantastic, both the achievement and the hand drawn graph! I love how you even included the red "paid" stamps :)
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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.
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Welcome to the party Yasha! Good to get more people on the thread! :)
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Haven't checked in for a while...up to just over 7,500.
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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
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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.
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@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?
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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 :)
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@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.
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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
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@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.
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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!
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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!
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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:
- I need to dial back on expensive traveling in 2019. That's been my biggest budget-killer this year, with a driveable domestic trip over the holidays, an international trip in March, and a flight-required domestic trip coming up in June. I usually do two trips (one big + one small), which seems to be very manageable for me from a budgetary perspective. Adding the third trip this year has cut into my discretionary savings for sure, although I would still choose to do it again because it was a very special milestone trip for my mom and me. 2019 will probably be driveable domestic trip + international trip, which should be fine. And I can cut the domestic trip if my numbers aren't looking the way I want them to.
- I've been spending a LOT more on clothes/shoes than I have in years. Some of this was needed, but a lot of it has been "nice to have" upgrades and additions instead of "these boots literally have holes in them." In the long term, I need to find a happier medium. I've spent practically nothing on clothes for three years trying to be Frugal (tm). But it feels like that's pushed me into a feast-or-famine mindset where I start spending way too much money as soon as I've given myself permission to buy the one or two things I do actually need. I know I'm a moderator and not an abstainer in other aspects of my life, IDK why I haven't applied that self-knowledge to this area. In the short term I'm imposing a moratorium until I can start hitting my down payment savings goals again.
- I've hit my pain point with retirement savings. Which is great, since I'm saving more money. I'll adjust eventually.
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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
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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!
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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.
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My IRAs (roth and traditional) are about to reach $10k for the first time
BAM!
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My IRAs (roth and traditional) are about to reach $10k for the first time
BAM!
That is awesome. CONGRATULATIONS!
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My IRAs (roth and traditional) are about to reach $10k for the first time
BAM!
You rock DieHard!!
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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....
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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.
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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!
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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.
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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!
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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!
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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!
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Nice job DieHard!! So begins the journey to the next digit!
Yes!!
Thanks @Trifele
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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.
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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.
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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'.
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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
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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
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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. :)
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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!
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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.
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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
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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.
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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.
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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.
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Thanks everyone. I'm super proud of myself :)
Congrats everyone else trucking along. We will get there.
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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.
-
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!
-
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!
-
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.
-
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!
-
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.
-
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.
-
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.
:)
-
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 business that costs a decent percentage of my income
2) Raising my income has not been as easy or as quick as i would like
3) there are realities at least for me that I can't just live the kind of spartan life that MMM seems to
support... and by far, the bulk of what i've earned goes to pay monthly expenses (both business and personal).
4) I'm still rather new to the idea of building my wealth... I've only been investing for 3 years
So our progress has maintained itself of over $1000+ networth growth per month, which is a lot more
progress than i ever did before, believe me, yet there have been many times that I wish it were much
faster... it certainly isn't at the levels that MMM talks about which result from you saving 50%+ of your income.
Hopefully that will change, and some day I will be able to save 50%+ of what I bring in, in the meantime...
I appreciate you all, because, like me, we're starting right here... at the bottom! I don't mean that as a knock,
it's just nice to have people I can relate to on here.
Thank you!
-
@DieHard_772 couldn't agree more :)
-
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 business that costs a decent percentage of my income
2) Raising my income has not been as easy or as quick as i would like
3) there are realities at least for me that I can't just live the kind of spartan life that MMM seems to
support... and by far, the bulk of what i've earned goes to pay monthly expenses (both business and personal).
4) I'm still rather new to the idea of building my wealth... I've only been investing for 3 years
So our progress has maintained itself of over $1000+ networth growth per month, which is a lot more
progress than i ever did before, believe me, yet there have been many times that I wish it were much
faster... it certainly isn't at the levels that MMM talks about which result from you saving 50%+ of your income.
Hopefully that will change, and some day I will be able to save 50%+ of what I bring in, in the meantime...
I appreciate you all, because, like me, we're starting right here... at the bottom! I don't mean that as a knock,
it's just nice to have people I can relate to on here.
Thank you!
A lot of the people on here, who're smashing it, are doing so because they've been naturally frugal, ended up with a high paying salary and then scoured the web thinking about what to do with it. There will be significantly more people with lower incomes who want to invest more, but have never looked into it properly/made the sacrifices to enable them to invest.
If it helps you, don't compare yourself to the people adding hundreds of thousands of dollars to their portfolio each year. Look closer to home. By doing ANYTHING you're doing more than 99% of the worlds population. Everyone says the first $10k is the hardest, and I believe them.
-
@DieHard_772 couldn't agree more :)
+1 This is my favorite gauntlet on the forum. I look forward to seeing updates from everyone working hard for this goal.
-
Been busy and missed the end of 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)
4/30/18: (11,771)
Assets [401ks, IRAs, HSA, Cash]: $48,294
Student Loan/CCs: (60,065)
It wasn't a great month - lots of additional expenses that will have a lingering impact on net worth goals until probably the end of May but continuing to track nonetheless!
-
@DieHard_772 couldn't agree more :)
+1 This is my favorite gauntlet on the forum. I look forward to seeing updates from everyone working hard for this goal.
+2. I'm kinda sad I'm in the next thread already as I love the support and encouragement in this one. THe 10-100k was is more just an accountability check, this one's so much "warmer". Keep on rockin' people!
-
A lot of the people on here, who're smashing it, are doing so because they've been naturally frugal, ended up with a high paying salary and then scoured the web thinking about what to do with it. There will be significantly more people with lower incomes who want to invest more, but have never looked into it properly/made the sacrifices to enable them to invest.
If it helps you, don't compare yourself to the people adding hundreds of thousands of dollars to their portfolio each year. Look closer to home. By doing ANYTHING you're doing more than 99% of the worlds population. Everyone says the first $10k is the hardest, and I believe them.
Very good point, @Manchester. Thank you for the reminder
-
@DieHard_772 couldn't agree more :)
+1 This is my favorite gauntlet on the forum. I look forward to seeing updates from everyone working hard for this goal.
+2. I'm kinda sad I'm in the next thread already as I love the support and encouragement in this one. THe 10-100k was is more just an accountability check, this one's so much "warmer". Keep on rockin' people!
I relate, @Hirondelle. That's why i keep coming back on here. It's good to remember our roots :)
-
@DieHard_772 couldn't agree more :)
+1 This is my favorite gauntlet on the forum. I look forward to seeing updates from everyone working hard for this goal.
+2. I'm kinda sad I'm in the next thread already as I love the support and encouragement in this one. THe 10-100k was is more just an accountability check, this one's so much "warmer". Keep on rockin' people!
I relate, @Hirondelle. That's why i keep coming back on here. It's good to remember our roots :)
Well maybe as we start graduating into the 10-100K thread we can "warm" it up :) The support here is great and I'd hate to lose that by moving into the next race.
-
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.
:)
My wife actually just got a job (She stays at home with the kids during the day and is going to be working nights and weekends.) we have lived off of my salary for over around the last year just fine so what ever she makes is going to go toward paying for the car loan. hope to have all debt erased here in the next three years all while still putting around 20% into our retirement accounts. our car interest rate is 3.49% while my student loans range from 3.5% to 6.5% when the car is paid off we plan on refinancing the loan to get a better rate for them. (Just currently like the flexibility that the government gives us with them currently). I have the next multiple years laid out and hopefully we can stick to them as closely as possible!
-
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 business that costs a decent percentage of my income
2) Raising my income has not been as easy or as quick as i would like
3) there are realities at least for me that I can't just live the kind of spartan life that MMM seems to
support... and by far, the bulk of what i've earned goes to pay monthly expenses (both business and personal).
4) I'm still rather new to the idea of building my wealth... I've only been investing for 3 years
So our progress has maintained itself of over $1000+ networth growth per month, which is a lot more
progress than i ever did before, believe me, yet there have been many times that I wish it were much
faster... it certainly isn't at the levels that MMM talks about which result from you saving 50%+ of your income.
Hopefully that will change, and some day I will be able to save 50%+ of what I bring in, in the meantime...
I appreciate you all, because, like me, we're starting right here... at the bottom! I don't mean that as a knock,
it's just nice to have people I can relate to on here.
Thank you!
I am still pretty new to this site and it is nice to see that there are people on here that are not making hundreds of thousands of dollars each year. I only make half that amount and thought I was doing good until I see all those posts. Thank for this thread it has made me feel more at home here. Hoping to increase my NW around a grand each month.
I just keep telling myself "My NW only going up is a sign of success!"
-
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 business that costs a decent percentage of my income
2) Raising my income has not been as easy or as quick as i would like
3) there are realities at least for me that I can't just live the kind of spartan life that MMM seems to
support... and by far, the bulk of what i've earned goes to pay monthly expenses (both business and personal).
4) I'm still rather new to the idea of building my wealth... I've only been investing for 3 years
So our progress has maintained itself of over $1000+ networth growth per month, which is a lot more
progress than i ever did before, believe me, yet there have been many times that I wish it were much
faster... it certainly isn't at the levels that MMM talks about which result from you saving 50%+ of your income.
Hopefully that will change, and some day I will be able to save 50%+ of what I bring in, in the meantime...
I appreciate you all, because, like me, we're starting right here... at the bottom! I don't mean that as a knock,
it's just nice to have people I can relate to on here.
Thank you!
I am still pretty new to this site and it is nice to see that there are people on here that are not making hundreds of thousands of dollars each year. I only make half that amount and thought I was doing good until I see all those posts. Thank for this thread it has made me feel more at home here. Hoping to increase my NW around a grand each month.
I just keep telling myself "My NW only going up is a sign of success!"
Join us in the "Low income group journal" - we discuss many things for lower income folks :)
I'm increasing my NW with a similar value monthly.
-
I post on 'Race to 50K thread' but I also follow this thread because I love it and love the support.
I recently found MMM, I have never been a networth tracker before. But I distinctly remember around Jan of 2016, my networth was close to zero. I didn't have any debt but also I didnt have any savings or investment.
Today my networth is around 35K. So it has taken about 2.5 years so slowly but surely progress is being made. So I want to re-iterate as long as there is progress, we all are on the right track.
Keep going!!!
-
Join us in the "Low income group journal" - we discuss many things for lower income folks :)
I'm increasing my NW with a similar value monthly.
Lol, that's hilarious @Hirondelle !
Let's all be slow moving money creeps together...
-
Well maybe as we start graduating into the 10-100K thread we can "warm" it up :) The support here is great and I'd hate to lose that by moving into the next race.
Yes please! @haypug16
-
I am still pretty new to this site and it is nice to see that there are people on here that are not making hundreds of thousands of dollars each year. I only make half that amount and thought I was doing good until I see all those posts. Thank for this thread it has made me feel more at home here. Hoping to increase my NW around a grand each month.
I just keep telling myself "My NW only going up is a sign of success!"
Lol, I know the feeling 1000% @bcbaseballman. I've been telling myself, "No matter what, I will have a lot more money than I would otherwise!"
This reminds me to keep looking at my progress, instead of comparing it to what some other people may be doing.
-
I post on 'Race to 50K thread' but I also follow this thread because I love it and love the support.
I recently found MMM, I have never been a networth tracker before. But I distinctly remember around Jan of 2016, my networth was close to zero. I didn't have any debt but also I didnt have any savings or investment.
Today my networth is around 35K. So it has taken about 2.5 years so slowly but surely progress is being made. So I want to re-iterate as long as there is progress, we all are on the right track.
Keep going!!!
And that is called progress! nice work @QuillScroll
-
Well maybe as we start graduating into the 10-100K thread we can "warm" it up :) The support here is great and I'd hate to lose that by moving into the next race.
Yes please! @haypug16
The Race to 100k thread is great, but you're right that it is a bit more businesslike, like "Let's get this thing done." Y'all will warm it up just by being there. :)
And I agree, it's usually not helpful to compare yourself to others in terms of progress. I focus on my own progress, and look at it like DieHard said -- I am way better off than I would have been otherwise. We all are!
-
The Race to 100k thread is great, but you're right that it is a bit more businesslike, like "Let's get this thing done." Y'all will warm it up just by being there. :)
Definitely looking forward to having more folks from this thread join us in the race to 100K! It's a little quiet over there. (And I'm going to be there forever, so I need good company! Haha.)
-
May 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)
3/31/2018 $(14,916.69)
4/30/2018 $(9,800.88)
5/15/2018 $(9,227.46) +573.42 increase on the smaller side but in the right direction. I have some reimbursements from a business trip last week for a few hundred but I haven't calculated the exact amount since it's in DKK but that I'll get at the end of the month so should still have a good month.
-
The Race to 100k thread is great, but you're right that it is a bit more businesslike, like "Let's get this thing done." Y'all will warm it up just by being there. :)
Definitely looking forward to having more folks from this thread join us in the race to 100K! It's a little quiet over there. (And I'm going to be there forever, so I need good company! Haha.)
I like seeing names I know near me on the [bottom of the] spreadsheet as people from this thread graduate. It feels almost like we're classmates, forging ahead together. :)
-
7/13/2017: $2,238.41
8/1/2017: $2,771.40
8/16/2017: $3,071.40
9/1/2017: $3,202.61
9/15/2017: $3,502.63
10/2/2017: $3,807.67
10/16/2017: $4,021.00
11/1/2017: $4,121.00
11/16/2017: $4,208.73
12/1/2017: $4,267.73
12/15/2017: $4,532.82
12/30/2017: $4,864.78
1/16/2018: $8,114.78
2/2/2018: $8,424.59
2/19/2018: $8,431.24
3/30/2018: $8,614.89
4/16/2018: $8,742.36
5/1/2018: $8,905.80
5/16/2018: $9,005.80
Still not where I want to be, but somehow I have under $1,000 to go?? Just shows the power of incremental progress, I guess.
And of course, the significant privilege of having received a bump from inherited money, since it would take a lot of incremental progress to come up with that extra $3,250. Without that I'd be around $5,800, which is nothing to sneeze at...but a lot lower than $9,005.
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Way to go Fluffmuffin. You're so close now!! You're over the last hurdle in this thread (hitting $9k) and now the finishing line is well within your sights!
Don't justify your position off the inheritence you received! It's one thing to recieve inheritence and another to invest it properly (as opposed to going on a big shopping trip). If you classify your windfalls as luck, by the same token you could say a big unexpected bill is unlucky etc. The only thing that matters are the cold hard facts. :)
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If you classify your windfalls as luck, by the same token you could say a big unexpected bill is unlucky etc. The only thing that matters are the cold hard facts. :)
Well said Manchester!!!
Way to go Fluffmuffin :)
-
Hello friends!
I haven’t been posting heaps, but I’ve been trucking along in the background and am happy to report that net worth has been creeping steadily upward, by my calculations we are now at negative $18133. More importantly we now have an ‘oh shit’ stash of a grand, so we can get ourselves out of a small amount of trouble without resorting to borrowing money. Having that grand established now means that we are pointing the firehose of $250 a fortnight at the NZ loan so that is now going down at a more rapid pace. Add to that the fact that there are three paydays this month instead of the standard two and it’s looking very promising... Could it be that we hit 0 this year?
-
Love your pictures. I have two weeks holidays coming up and I really need to get my life organised. I started a bullet journal last year after reading about it here and although I didn't use it religiously, I did find it useful and kept on going back to it. I got a really nice notebook for my birthday in December and decided to retire the now-grotty-looking Leuchtturm notebook I had been using and start 2018 off fresh but I still haven't managed to sit down for even ten minutes and just get it organised properly. Can hardly believe it is half-way through May already. I badly need to get organised so this was a timely reminder. And I will need to replace my laptop soon, saving for it a bit more systematically than I have been up to now would be a really good idea. :)
-
Hi Everyone. I'm really happy with my progress this month. It's the first month with my new payrise and I've actually spent less than I usually would. I've had some extra costs this month (cars/birthdays), but it wasn't anything unexpected.
I've bumped my savings by £652.82 and my pension by £473.63. Total N/W increase is £1,136.03.
I really want to get my E/F over £2k. Once I've done that I'll feel a bit more comfortable opening a Vanguard account and investing more each month.
(http://i64.tinypic.com/261n4pd.png)
-
That's great progress, @Manchester !
And I totally agree with building up your EF first. You've paid off your credit card now and you don't want to get sucked back into debt in case an unexpected bill comes up.
-
+1 to Imma. Awesome job, Manchester!
-
Savings:
July 31: €2400
August 30: €2000
September 27: €1300
October 30: €1400
November 30: €1600
December 29: €1100
February 1: €1100
February 28: €1300
March 29: €1300
April 30: €800
May 29: €2300
Investments:
July 31: €1985.37
August 30: €2095.00
September 27: €2253
October 30: €2461
November 30: €2622.06
December 29: €2661.50 (didn't do the monthly transfer yet)
February 1: €3021,56
February 29: €3101,58
March 29: €3160,54
April 30: €3439.66
May 29: €3729.27
Total:
July 31: €4385.37
August 30: €4095.00
September 27: €3553
October 30: €3861
November 30: €4222.06
December 29: €3761,50 (+ 740 unpaid salary = 4501.50 )
February 1: €4121,60
February 29: €4401,58
March 29: €4460,54
April 30: €4239.66
May 29: €6029.27
Goals for 31 December 2018:
Savings: €3000 €5000
Investments: €4500
Total: €7500 €9500
Received one of the big payments I was waiting for, still waiting for the other (around €1000) but I'm supposed to get it before July. Also worked a bit of overtime this month which will be paid next month. Progress in the right direction again :) I'm also talking to a company that approached me for a new job. I'm not sure if this will work out, but if it does, I will make a lot more money than I do now.
My investments are also doing really well! It seems everybody is complaining about the markets not doing well this year, but I just can't see that in my own portfolio (which is 100% index funds, 75% stocks and 25% bonds, so fairly conservative) . I transfer €175 every month, but the value of my portfolio increased almost €300 from last month and almost €600 over 2 months. All in all I'm up about 8% over 2018.
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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
March (30-3-18): 5191 6032[/b]
May (29-5-2018): 7682
Totally forgot April. Nothing too exciting happened there, just imagine a number between March and May...
May's got a seven! Yay for vacation money may!
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Wow @Imma ! That's great progress. Good to see you put 1500e into your savings after having to use some in April. If the current trend continues I'm sure you're going to smash your investment target early. Sounds promising on the job front, let's see what happens.
You're on a good streak @Spruit . Since January it's been going the right way. I'm sure you'll be out of here in no time.
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Didn't get the job :( but was asked to work quite a bit of overtime in my current job in June and July. If I really work all these hours, it will be an extra €1000. I need a new coat and new boots for next winter which might cost more than I'd like if I can't find them secondhand, but I'm still on the right track to reach my goals this year.
This is the first time in my life I'm doing this well financially. I was always good with money, I just didn't have enough of it. Now we earn a bit more (although not really a lot because we both work parttime) and our bills are much lower, so there's money left over at the end of the month and I can easily afford anything I need. It's a good feeling to see my savings/investments grow this fast.
-
May Update
3/31/2017 (52,848.85)
4/30/2017 (48,076.67)
5/31/2017 (47,110.22)
6/30/2017 (46,540.28)
7/31/2017 (44,354.10)
8/31/2017 (47,236.39)
9/30/2017 (42,436.10)
10/31/2017 (33,346.78)
11/30/2017 $(28,911.53)
12/31/2017 $(24,424.13)
1/31/2018 $(20,454.43)
2/28/2018 $(18,221.63)
3/31/2018 $(14,916.69)
4/30/2018 $(9,800.88)
5/31/2018 $(8,508.19) +1,292.69 Increase
I was a bit of a spendypants this month. Got some new backpacking gear and overall didn't enter in all my purchases like I usually do (on a daily basis). I'm going to enter in all of May at some point this week/end to see what's going on. I was hoping to be able to ease back on the tracking but I can see that I'm not really ready for that.
Anyway still a good month and I'm still on track for hitting zero this summer and $10K this fall/winter. I do have my car insurance bill coming up at the end of June so I think next month will be another smaller increase like this month but hopefully not so bad.
How was everyone else's May?
-
End of May 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)
4/30/18: (11,771)
5/31/18: (6,744)
Assets [401ks, IRAs, HSA, Cash]: $51,805
Student Loan/CCs: (58,549)
Oyy - you know when you have a spendypants month and then it takes forever to put the breaks back on and get outta that mode?...Annnnd then it takes a bit to mitigate the impacts of the spendypants behavior? Well that's where we are right now. May was a spendypants month like April was...and we have big expenses for both June and July lined up so we're feeling the pinch a little bit and not making as much progress as before. BUT - definitely still going the right direction so really have no business complaining. Maxing out our retirement accounts helps keep the assets climbing even if our savings rate is abysmally low. Just need to get back on track with what spending we can control, pay off the upcoming expenses like car insurance and car repairs, wedding stuff (in the bridal party) and a road trip this July. All worth it but I'm really looking forward to spending less money and putting it toward our debt.
Anywho, I've missed tracking everyone's progress. Can't wait to see how May shaped up for y'all!
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Got some new backpacking gear
Oh, that's exciting! What did you get? I'm lusting after a $600 20oz tent and keep facepunching myself for wanting it. (Don't worry, everyone! I'm not going to buy it unless I find myself planning for a thru hike. And if I'm planning a thru hike, it means my life has been turned upside down.)
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Emergency fund: $4730 (-$693)
Dental bill, moving, and extra rent took the e-fund down a notch (sigh), but there should be no more big expenses on my horizon (I hope!) Looking forward to building this back up.
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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.
May:
Checking account: €1801.27
Emergency Fund: €3000.00
Amortization Fund: €74.18
Goal Fund: €0.00
Investment: €2632.87
Total: €7508.32
That was an expensive month, had rent deducted twice as mentioned before, had last installment of this year's tuition deducted, bought a new laptop and had a lot of yearly bi-yearly scheduled bills and fronted some bills, but I did get my tax return on the other hand.
Still up by just over €400 though!
Also, you can see I did a thing and trade my savings account in for three funds, I realized I could open infinite saving accounts at no cost so I figured I'd map them to their purpose.
EF is self explanatory, goal is €5k.
Amortization fund is where I put 1/12th of every yearly recurring expense and 1/6th of every bi-annual recurring expense, etc. This way my checking account and EF / Goal Fund can be left alone when a lot of scheduled non-monthly expenses overlap instead of having to move things around to cover for cashflow shortages as I needed to do sometimes.
Goal Fund is for well, goals. It will be used after EF is filled, current goals are saving for a house and possibly driver's license lessons.
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Got some new backpacking gear
Oh, that's exciting! What did you get? I'm lusting after a $600 20oz tent and keep facepunching myself for wanting it. (Don't worry, everyone! I'm not going to buy it unless I find myself planning for a thru hike. And if I'm planning a thru hike, it means my life has been turned upside down.)
I got a new Osprey backpack, 36L. The one I had already was 65L and just way to big since Mr Pug carries the tent I just don't need that much space. Thankfully he can use my backpack and was in desperate need of a new one. I was able to use my REI gift card that I got for opening a new REI credit card. That paid for most of it. Then I also got a sleeping bag liner, and a ton of ProBars (they are soooo good) I do plan on doing a bunch of backpacking this year (and beyond) Someday I would love to Thru Hike at least the Long trail maybe the AT at some point.
We are looking into a new tent as well (maybe with our dividends next year). What's this 20 oz tent you speak of?
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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!
Ok so I decided to go back into my budget and get my net worth from the beginning of this year so I could see how I have been doing.
2018
1/31 : (5949.05)
2/28 : (5288.30)
3/31 : (4273.93)
4/30 : (2592.07)
5/31 : (629.70)
This month was a really good month. Paid off just over $1,000 of debt principle and my retirement accounts grew by $950.
Currently trying to find some more places to trim a little bit extra money to throw at my debt. Should be in the positive by the end of June!!
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Okay, I've been silently lurking in this thread for more than a year because my student loan amount has been in flux (for reasons I can't explain here), but it seems to be firmly set now -- so here I am, out of hiding.
As of today, 6/1/2018, my net worth is: ($149,175.48).
Here's the breakdown:
Student loans: ($202,140.63)
401k: $24,555.97
Roth: $16,560.99
HSA: $6,334.14
Emergency fund: $5,514.05
The student loan situation is obviously very terrible, but the good news is that my income is fairly high, so I am able to put a decent amount toward my loans each month while still contributing to my tax-advantaged accounts. So far this year: I've paid down more than $11K of loans, I've maxed out my HSA, and I am paying into my 401k monthly (maxing it out by the end of the year). I have not yet contributed to my Roth -- because I need to do it backdoor, and I'd prefer to do that in one fell swoop rather than lots of little conversions -- but plan to max it out all at once when I get my year-end bonus (or before that, I guess, if I suddenly acquire an extra $5500 somewhere). So I'm feeling good about all of that, even though the loans are...well, on fire.
In addition to chipping away at my loans, I'd like to get my e-fund to at least $10K, though I don't feel a ton of urgency to get there.
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Sorry to hear you didn't get the job @Imma. It's a big step even applying for new jobs. I'm certain there will be more opportunities in the near future.
@mckaylabaloney You're clearly quite clued up. My situation is completely different than yours, but I've found the support on this thread really motivating. I'm not saying you'll need any extra motivation, but I'm sure recording you N/W and writing short summaries of your month will help - it certainly continues to do so with me.
Good progress @bcbaseballman You're nearing your first major milestone. I'll be looking out for your update next month!
@zeli2033 and @haypug16 You're both still going in the right direction and your increases are much higher than the average on here, so don't be disheartened. You're both going to be at $0 N/W in no time!
@MSquared ....Unlucky, you've had some big bills this month. Kinda good that you have a big emergency fund, right? ;)
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Wowzers, that are a lot of zeros in the negative. It boggles my mind (but then again, I am a European). You have already earned my respect for facing this down, and taking the bull by the horns. Keep at it and you'll surely get there!
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Okay, I've been silently lurking in this thread for more than a year because my student loan amount has been in flux (for reasons I can't explain here), but it seems to be firmly set now -- so here I am, out of hiding.
As of today, 6/1/2018, my net worth is: ($149,175.48).
Here's the breakdown:
Student loans: ($202,140.63)
401k: $24,555.97
Roth: $16,560.99
HSA: $6,334.14
Emergency fund: $5,514.05
The student loan situation is obviously very terrible, but the good news is that my income is fairly high, so I am able to put a decent amount toward my loans each month while still contributing to my tax-advantaged accounts. So far this year: I've paid down more than $11K of loans, I've maxed out my HSA, and I am paying into my 401k monthly (maxing it out by the end of the year). I have not yet contributed to my Roth -- because I need to do it backdoor, and I'd prefer to do that in one fell swoop rather than lots of little conversions -- but plan to max it out all at once when I get my year-end bonus (or before that, I guess, if I suddenly acquire an extra $5500 somewhere). So I'm feeling good about all of that, even though the loans are...well, on fire.
In addition to chipping away at my loans, I'd like to get my e-fund to at least $10K, though I don't feel a ton of urgency to get there.
Welcome, @mckaylabaloney! Have you seen @Eric222's journal? I think you'll find it inspirational. I can't remember the name, so I've sent him a bat signal. Check his badass self out, cause he's killing a huge mountain of debt.
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@Spruit Haha, it boggles my mind as well. When I decided at the age of 21 to attend law school, I definitely did not even begin to appreciate what that type of debt would feel like. But I just looked back at my numbers for this year so far, and realized that I have increased my net worth by almost $22K since January 1. And I have a lot of room for improvement -- I am still much more spendy than I should be, especially in light of my debt. So I am feeling optimistic about the future!
@Dicey I haven't seen that, thanks! It does look very inspirational :)
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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'.
(End of May)
Current status:
87.78% Savings Rate This Month.
Total Net Worth: +$42,185.01
Liquid Net Worth: ($3,431.54)
Days Bought: 28.81
Its an additional +$4,107.93 to the net worth and an additional +$1,378.70 net worth not tied up in equity. And an additional 2.81 days 'bought'.
Unfortunately..... I just spent 11k on a (rather nice) brand new AC system at the house. That is going to skew the numbers next month pretty bad. That 87% up above is probably largely due to the mental offset of that big purchase that isn't in the numbers yet combined with some other minor accounting changes, but we still hit above 55% saving rate... :/ However, I bought quality on the AC and have a 10 years parts and labor warranty to cover it so overall I consider it a wise purchase (and necessary here in Texas), but dang does it seem to hurt the wallet.
I'm also hoping our overall electric bills will go down as well. We shall see... :/
Keep it up guys!
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@haypug16 - http://www.zpacks.com/shelter/duplex.shtml There's a whole niche of small, ultralight backpacking gear companies. It's a heck of a rabbit hole to go down!
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Welcome, @mckaylabaloney ! Hey, you've got a lot of debt, but you also have more invested than I do! Silver linings, eh?
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@MSquared Indeed! I feel really grateful that I was in a position to start investing in my (late) 20s, even while dealing with a mountain of debt. I know it will take me longer to pay off my debt because I'm diverting some potential debt payments toward retirement funds instead, but I'm hoping that I'll ultimately wind up in a more secure position as a result.
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@MSquared Indeed! I feel really grateful that I was in a position to start investing in my (late) 20s, even while dealing with a mountain of debt. I know it will take me longer to pay off my debt because I'm diverting some potential debt payments toward retirement funds instead, but I'm hoping that I'll ultimately wind up in a more secure position as a result.
So freaking smart! Your future self is going to be so happy with you! Compound Interest is nothing short of miraculous. #Winning!
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Okay, I've been silently lurking in this thread for more than a year because my student loan amount has been in flux (for reasons I can't explain here), but it seems to be firmly set now -- so here I am, out of hiding.
As of today, 6/1/2018, my net worth is: ($149,175.48).
Here's the breakdown:
Student loans: ($202,140.63)
401k: $24,555.97
Roth: $16,560.99
HSA: $6,334.14
Emergency fund: $5,514.05
The student loan situation is obviously very terrible, but the good news is that my income is fairly high, so I am able to put a decent amount toward my loans each month while still contributing to my tax-advantaged accounts. So far this year: I've paid down more than $11K of loans, I've maxed out my HSA, and I am paying into my 401k monthly (maxing it out by the end of the year). I have not yet contributed to my Roth -- because I need to do it backdoor, and I'd prefer to do that in one fell swoop rather than lots of little conversions -- but plan to max it out all at once when I get my year-end bonus (or before that, I guess, if I suddenly acquire an extra $5500 somewhere). So I'm feeling good about all of that, even though the loans are...well, on fire.
In addition to chipping away at my loans, I'd like to get my e-fund to at least $10K, though I don't feel a ton of urgency to get there.
Welcome, @mckaylabaloney! Have you seen @Eric222's journal? I think you'll find it inspirational. I can't remember the name, so I've sent him a bat signal. Check his badass self out, cause he's killing a huge mountain of debt.
My ears are burning...someone must be talking about me. :)
@mckaylabaloney - You've got just a bit over half of the amount of debt I had when I started. I remember the difficulty of looking directly at that number and then sharing it. And mine wasn't just student loans...there was (is?) all sorts of ugliness there. You're much better off than I was! (Am? My student loans are still at -$150k or so. But my NW will be zero by the end of the year!)
Good news is that with a high income your NW starts is going to go up quickly (and already is)! A few suggestions (feel free to ignore and apologies if I'm saying anything obvious - you're experience may vary, and you sound like you know what you are doing for the most part):
1. Get an Emergency fund first. All I wanted to do was pay off my debts, really, really badly. But it really helps to know that you've got a cushion if something happens. You can't pull money back out from the student loan and personal loans have crappier interest rates - assuming you aren't in a temporary no income situation.
2. What is the interest rate on your student loan? If you've got good credit, and a high income, I'd refinance to the lowest rate possible. I used sofi -there is a link somewhere on the blog that gives you the referral bonus. It forces a fast repayment plan - 5 years gives you the lowest interest rate. So I'm paying $3k/month. Which is awesome - I'll kill the student loan in a reasonable amount of time and I'm not getting killed with interest. It also gives me the ability to not feel like ALL my income needs to go to my loan so I can save/put money towards my other debt (like an EF!). You can always make extra payments. Also, if you lose your job they'll let you stop paying (interest still accumulates) for a year. (Totally ignore the part about refinancing if you already have a good rate.)
3. It's a marathon, not a sprint. I've made it about my NW and not about the student loan - it seems less oppressive to me that way. Also, that way I've set myself up so that when the student loan is gone, I just direct that fire-hose of money to savings. But at that point, it becomes more about what your goals/values are.
4. Definitely do the backdoor roth in one fell swoop - so much easier.
5. There is lots of good advice and positive reinforcement around here. Having a journal really helped me as I was trying to change my habits and turn things around (granted, I had lots of other issues...if you've got 4 or 5 hours, you can read all about them!).
Good luck!
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@Eric222 Thank you! I am slowly reading through your journal and it is so encouraging to see someone who has tackled this amount of debt and more :) Thank you for sharing your journey!
To respond quickly:
1. I do have an emergency fund, but it's at about $5500 and I realized recently that I would feel more comfortable if it was around $10K (probably a touch excessive, but I'm okay with that), so that's one goal for the rest of this year.
2. I've refinanced twice now :) Sofi the first time and Earnest the second. My rate is currently 3.4%, but it's variable, so it's obviously rising this year (though still well below what my fixed rate would have been).
3. Yeah, that's what I've landed on as well. It would feel good to be done with the debt faster, but it will feel better to have a higher net worth at the end. My approach has been to max out my tax-advantaged accounts and then, after that, to throw all my extra money at my loans. I'm sure there some Mustachians who would choose to hang on to the debt, since the interest rate is fairly low, and send the extra money to a brokerage account, but I need to get that monthly payment out of my life ASAP.
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@Eric222 Thank you! I am slowly reading through your journal and it is so encouraging to see someone who has tackled this amount of debt and more :) Thank you for sharing your journey!
To respond quickly:
1. I do have an emergency fund, but it's at about $5500 and I realized recently that I would feel more comfortable if it was around $10K (probably a touch excessive, but I'm okay with that), so that's one goal for the rest of this year.
2. I've refinanced twice now :) Sofi the first time and Earnest the second. My rate is currently 3.4%, but it's variable, so it's obviously rising this year (though still well below what my fixed rate would have been).
3. Yeah, that's what I've landed on as well. It would feel good to be done with the debt faster, but it will feel better to have a higher net worth at the end. My approach has been to max out my tax-advantaged accounts and then, after that, to throw all my extra money at my loans. I'm sure there some Mustachians who would choose to hang on to the debt, since the interest rate is fairly low, and send the extra money to a brokerage account, but I need to get that monthly payment out of my life ASAP.
1. I don't think 10k is excessive - I went for ~$25k for the EF. It's whatever amount you think is needed for real emergencies.
2. Yay! Refinancing makes a huge difference with that much money.
3. That argument is typically for something like mortgage debt. Student loans are pernicious. You can't get rid of them (i.e. if you go bankrupt, etc). There isn't an asset (other than your education) securing them. I'm happy with my 5 year to kill them plan. :)
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@Eric222 Thank you! I am slowly reading through your journal and it is so encouraging to see someone who has tackled this amount of debt and more :) Thank you for sharing your journey!
To respond quickly:
1. I do have an emergency fund, but it's at about $5500 and I realized recently that I would feel more comfortable if it was around $10K (probably a touch excessive, but I'm okay with that), so that's one goal for the rest of this year.
2. I've refinanced twice now :) Sofi the first time and Earnest the second. My rate is currently 3.4%, but it's variable, so it's obviously rising this year (though still well below what my fixed rate would have been).
3. Yeah, that's what I've landed on as well. It would feel good to be done with the debt faster, but it will feel better to have a higher net worth at the end. My approach has been to max out my tax-advantaged accounts and then, after that, to throw all my extra money at my loans. I'm sure there some Mustachians who would choose to hang on to the debt, since the interest rate is fairly low, and send the extra money to a brokerage account, but I need to get that monthly payment out of my life ASAP.
Some people might consider me one of those people, but they'd be wrong. Since you're maxing out your tax-advantaged options, I think killing the SL's is the best next thing to do, especially as your rate is variable. Kill the mortgage at the expense of tax-advantaged savings or employer matches? Hell No! Kill the SL's after tax advantaged savings options are maxed? Oh, hell yes! That's no baloney, McKayla!
And a big shout-out to @Eric222 for responding. He's a very busy guy. He's a Docta, you know. And quite a successful one at that! ;-)
Oh, and one more thing: I'm a huge fan of EFs, but maybe compromise at $7500 while you're killing the SLs? Something to think about, especially if you have good credit.
P.S. I hit send, but my post didn't go through before I left the house. I see Eric's been back with similar thoughts.
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I've had a good bit of progress last night. My S/O is very good with excel etc and I was explaining how I'm keeping spreadsheets with targets and so on. I explained my financial plans to her in detail. She was really on board (which is unusual as she's definitely on the less frugal side). She even helped me add more cool info into my spreadsheets which will make it easier to track my savings rate. :)
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Manchester, that's really nice! It makes a great difference if your partner and you are working together towards the same goals.
Lately I noticed something similar in my household, non-negotiable stuff is getting reconsidered because the results get more tangible. I think persistent frugality is rubbing off eventually if it's done in a not preachy way.
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It makes a huge difference if the SO is on board. Mine was not at first and it made it very difficult to make any progress. The last couple of months she has started to see that it really is not so bad living more frugally and we have been making much better progress. Instead of only adding around $1,000 to our total net worth last month we added ~$2,000 and this month I am hoping to make that around $2,500. Hopefully all goes as planned!
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Yes, it's such a big difference when you're both on board. I imagine it's really difficult to maintain a healthy relationship when there are major disagreements about money. I'm lucky that my s/o is just as frugal as me, but he's not goal oriented at all. He just doesn't buy much and has a lot of money left over at the end of the month.
He was never really interested in things like taxes, investing etc. but that's slowly changing now he's seeing my progress. The most important thing to me is that we share the same values. We never really disagree about how much we should spend on something. I can imagine it's difficult when one half of the couple wants designer furniture and the other would like to have a look at the thrift shop first.
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In trying to modify this post I ended up quoting weirdly...
Total net worth = -$17,876
Car loan = -$6,899
Student loan = $-27,593
Credit card = 0 (It has been bothering me so I just used my savings. I couldn't do it anymore)
401K - $13,974
Checking - $120
Savings - 2500$
I had hoped to get my savings to $10,000, but having credit card debt really was gnawing on me so I just payed it off and plan to cancel the credit card or just put it aside for emergencies. I have reset my goals a bit. I want to pay off my car at the end of the year and have $6,000 in savings then. I want to start tackling student loan soon and not just paying the minimum.
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7/13/2017: $2,238.41
8/1/2017: $2,771.40
8/16/2017: $3,071.40
9/1/2017: $3,202.61
9/15/2017: $3,502.63
10/2/2017: $3,807.67
10/16/2017: $4,021.00
11/1/2017: $4,121.00
11/16/2017: $4,208.73
12/1/2017: $4,267.73
12/15/2017: $4,532.82
12/30/2017: $4,864.78
1/16/2018: $8,114.78
2/2/2018: $8,424.59
2/19/2018: $8,431.24
3/30/2018: $8,614.89
4/16/2018: $8,742.36
5/1/2018: $8,905.80
5/16/2018: $9,005.80
6/14/2018: $9,020.38
Missed the early June update due to vacay...and also due to vacay I have only the most incremental of incremental updates this time! We were mostly camping, but I had to get an emergency last-minute hotel room in one of the most popular national parks in the US over Memorial Day weekend. That threw a wrench in the vacation budget, but our original plan was not possible for safety reasons so it was worth every penny of the (crying a little) $250. Otherwise I would have had $250 to contribute!
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This is not going to be a good month money wise for me. Or, well, in general. We had to put down my dog last weekend. :( She was 13.5 years old and I got to have her for 12 of those years. She lived a fantastic life. I don't care about money in these situations - I just want the best for her. I had someone come to the house to do it and then she got a private cremation. I got her ashes back in a nice bamboo box. It was way more expensive than just taking her to the vet, but I don't care. I will probably go spread them at our favorite running/hiking spot. I'm feeling pretty lost without her.
Of course this happened after I decided to finally buy the fancy GPS/SOS device for backpacking. (You can facepunch me for that one, but we do a lot of remote stuff and I decided it was dumb not to have one with all that we do.) So June will not be a good number to report. But going forward I will have less pet expenses (we're down to just the mostly inexpensive lizard now), so it will get made up eventually. Unless something drastic happens (car accident, job loss, break up) I don't see what else can go wrong financially. (Knock on wood?) So relentless forward motion. My net worth is still going up, but I had to borrow a couple of hundred bucks from the e-fund.
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I'm so sorry about your dog @MSquared. Hugs.
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@MSquared I am SO sorry to hear about your pup! Losing a pet is so hard, but she was very lucky to have had a person who had the financial ability to make choices based on what was best for her. I lost my soul-dog last year and I still get teary thinking about her--feeling lost is so normal. Hugs if you want them.
And like you, her end-of-life care was the last time I touched my e-fund. It came on very suddenly so there was no time to make a financial plan. But that's exactly why we have e-funds: so when these things happen, inevitably in the same month as car repairs/larger planned expense/whatever, we don't have the added stress of worrying about the finances.
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I'm so sorry for your loss MSquared.
Mid-June Update
3/31/2017 (52,848.85)
4/30/2017 (48,076.67)
5/31/2017 (47,110.22)
6/30/2017 (46,540.28)
7/31/2017 (44,354.10)
8/31/2017 (47,236.39)
9/30/2017 (42,436.10)
10/31/2017 (33,346.78)
11/30/2017 $(28,911.53)
12/31/2017 $(24,424.13)
1/31/2018 $(20,454.43)
2/28/2018 $(18,221.63)
3/31/2018 $(14,916.69)
4/30/2018 $(9,800.88)
5/31/2018 $(7,375.85)
6/15/2018 $(6,596.24) +779.61 increase
I realized as I was updated my spreadsheet that I didn't update my Student Loan balances on my master sheet last month so my Networth at the end of May should have been higher so I made that edit here. It just makes me feel a little better about my progress last month. This negative number is getting smaller and smaller. I can't wait for it to flip into the positive. Just a few more months, either August or September I'm thinking.
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Oh MSquared, I hope you have many happy memories and pictures of your beloved pup! I am sorry for your loss.
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@MSquared I'm so sorry for your loss :( And this is why we have emergency funds, to be able to make the best decision in a difficult situation, not the cheapest decision.
I also don't think a GPS/SOS device is a waste of money at all. I think it's a very good investment. You're most likely never going to need it, but when you do it will possibly save your life. A friend of someone I know got lost in a very remote natural area and is missing and presumed dead. I did not know him personally, but the heartbreak of not knowing what happened to him and what he could have gone through before he presumably died was very hard on his family and friends.
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Thanks, everyone. She was with me since I was 23 and it's been hard. Here's a pretty recent photo of her.
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Sorry for the loss of your pup <3
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Hi Everyone, @MSquared I'm sorry to hear about your dog!
Another month in the right direction for me. Savings are up, investments up and credit card still at 0! I've taken out a new side hustle called matched betting. Basically, you place qualifying/promotional bets, which guarantee a free bet. These bets are specially selected with close matches on other bookies where you bet AGAINST the original bet. No matter what the outcome of the race/game is, you end up winning money. So far I've made the best part of £300 for a few hours work, it's the perfect side hustle (although I'm not sure if it's legal in other countries). The other bonus is all proceeds of gambling are tax free in the UK! This has affected my spreadsheet somewhat, as I have cash within my bookie accounts - I can withdraw this cash at anytime, but I'll leave it in there for now to gain leverage and be able to place more bets etc.
(http://i68.tinypic.com/2uogzmd.png)
(http://i67.tinypic.com/155ryhh.png)
My N/W is up £1,066.11.
It's my second month in a row with a £1k+ increase.
I track how close I am to my target each month. In April I was 54% off, May I was 39% off, now I'm 29% off.
So obviously a very positive couple of months for me. HOWEVER. Between now and 22/07/2018 I'm going on holiday (to see family in Greece, so shouldn't be rediculous but still an extra £1k budget towards it for me and my S/O), that means less time for my new side hustle, which could cost me around £300. We are getting a new kitchen and bathroom which will set us back a bit as well as some other payments that have come up. I'm also withdrawing £10k of equity from my house (hopefully). So this could completely skew my accounts. Let's see what happens I suppose. :)
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Late to the party, but I am at 8650 in my Vanguard Fund, hoping to break 10,000 in four months time!
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Hi Everyone, @MSquared I'm sorry to hear about your dog!
Another month in the right direction for me. Savings are up, investments up and credit card still at 0! I've taken out a new side hustle called matched betting. Basically, you place qualifying/promotional bets, which guarantee a free bet. These bets are specially selected with close matches on other bookies where you bet AGAINST the original bet. No matter what the outcome of the race/game is, you end up winning money. So far I've made the best part of £300 for a few hours work, it's the perfect side hustle (although I'm not sure if it's legal in other countries). The other bonus is all proceeds of gambling are tax free in the UK! This has affected my spreadsheet somewhat, as I have cash within my bookie accounts - I can withdraw this cash at anytime, but I'll leave it in there for now to gain leverage and be able to place more bets etc.
(http://i68.tinypic.com/2uogzmd.png)
(http://i67.tinypic.com/155ryhh.png)
My N/W is up £1,066.11.
It's my second month in a row with a £1k+ increase.
I track how close I am to my target each month. In April I was 54% off, May I was 39% off, now I'm 29% off.
So obviously a very positive couple of months for me. HOWEVER. Between now and 22/07/2018 I'm going on holiday (to see family in Greece, so shouldn't be rediculous but still an extra £1k budget towards it for me and my S/O), that means less time for my new side hustle, which could cost me around £300. We are getting a new kitchen and bathroom which will set us back a bit as well as some other payments that have come up. I'm also withdrawing £10k of equity from my house (hopefully). So this could completely skew my accounts. Let's see what happens I suppose. :)
Nice progess!
Out of curiosity, why do you have matched betting as a seperate column? Is there a chance of losing money somehow that warrants keeping track of overall progress or is simply because it's in your bookie account?
And how do you find these opportunities? I'm in the Netherlands so I'd need to lookup tax/laws/regulations but this sounds like a promising side hustle.
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Nope, too bad, the NL gambling options are not legal I'm afraid. I had a friend who was in online poker for a while but had to stop because of changing rules.
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As of payday today, I am one month from the magical 10k emergency fund. It's been a hell of a week - I interviewed on Wednesday for an internal transfer that would see my salary jump almost 25% and my commuting expenses fall to zero, and then today I received academic results confirming that I now have a designation that entitles me to a 6% raise. With a bit of luck, I should finish July with a full emergency fund and a major new financial target.
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As of payday today, I am one month from the magical 10k emergency fund. It's been a hell of a week - I interviewed on Wednesday for an internal transfer that would see my salary jump almost 25% and my commuting expenses fall to zero, and then today I received academic results confirming that I now have a designation that entitles me to a 6% raise. With a bit of luck, I should finish July with a full emergency fund and a major new financial target.
Wow @runbikerun that is fantastic! Congrats on the raise, and good luck on the transfer!
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@runbikerun wow, another person to graduate from this thread this year! Congrats on the pay rise and good luck with the internal transfer.
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Hi Everyone, @MSquared I'm sorry to hear about your dog!
Another month in the right direction for me. Savings are up, investments up and credit card still at 0! I've taken out a new side hustle called matched betting. Basically, you place qualifying/promotional bets, which guarantee a free bet. These bets are specially selected with close matches on other bookies where you bet AGAINST the original bet. No matter what the outcome of the race/game is, you end up winning money. So far I've made the best part of £300 for a few hours work, it's the perfect side hustle (although I'm not sure if it's legal in other countries). The other bonus is all proceeds of gambling are tax free in the UK! This has affected my spreadsheet somewhat, as I have cash within my bookie accounts - I can withdraw this cash at anytime, but I'll leave it in there for now to gain leverage and be able to place more bets etc.
(http://i68.tinypic.com/2uogzmd.png)
(http://i67.tinypic.com/155ryhh.png)
My N/W is up £1,066.11.
It's my second month in a row with a £1k+ increase.
I track how close I am to my target each month. In April I was 54% off, May I was 39% off, now I'm 29% off.
So obviously a very positive couple of months for me. HOWEVER. Between now and 22/07/2018 I'm going on holiday (to see family in Greece, so shouldn't be rediculous but still an extra £1k budget towards it for me and my S/O), that means less time for my new side hustle, which could cost me around £300. We are getting a new kitchen and bathroom which will set us back a bit as well as some other payments that have come up. I'm also withdrawing £10k of equity from my house (hopefully). So this could completely skew my accounts. Let's see what happens I suppose. :)
Nice progess!
Out of curiosity, why do you have matched betting as a seperate column? Is there a chance of losing money somehow that warrants keeping track of overall progress or is simply because it's in your bookie account?
And how do you find these opportunities? I'm in the Netherlands so I'd need to lookup tax/laws/regulations but this sounds like a promising side hustle.
Thanks.
I have it in a separate column because it's technically cash that I can withdraw at any time, but it doesn't fit into my other columns. I'm tracking profit elsewhere which is slightly less than the figure above as I've deposited/withdrawn different amounts. I have loads of spreadsheets tracking how much I've bet/won/withdrawn/deposited/transferred etc, but the only thing that matters to my NET worth is how much of that money I 'have' which is the figure above.
I've seen someone else has posted that this is illegal in the Netherlands. Perhaps you might want to double check this, I'm thinking that our gambling laws should be quite similar because of the EU?
I actually got the idea off this forum (the UK section). There is a forum on the site I use and they post monthly 'profits'. A lot of people are earning £3k per month, tax free. Most people earn between £500-£1k per month though, which isn't bad going for a few hours work.
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Hi Everyone, @MSquared I'm sorry to hear about your dog!
Another month in the right direction for me. Savings are up, investments up and credit card still at 0! I've taken out a new side hustle called matched betting. Basically, you place qualifying/promotional bets, which guarantee a free bet. These bets are specially selected with close matches on other bookies where you bet AGAINST the original bet. No matter what the outcome of the race/game is, you end up winning money. So far I've made the best part of £300 for a few hours work, it's the perfect side hustle (although I'm not sure if it's legal in other countries). The other bonus is all proceeds of gambling are tax free in the UK! This has affected my spreadsheet somewhat, as I have cash within my bookie accounts - I can withdraw this cash at anytime, but I'll leave it in there for now to gain leverage and be able to place more bets etc.
(http://i68.tinypic.com/2uogzmd.png)
(http://i67.tinypic.com/155ryhh.png)
My N/W is up £1,066.11.
It's my second month in a row with a £1k+ increase.
I track how close I am to my target each month. In April I was 54% off, May I was 39% off, now I'm 29% off.
So obviously a very positive couple of months for me. HOWEVER. Between now and 22/07/2018 I'm going on holiday (to see family in Greece, so shouldn't be rediculous but still an extra £1k budget towards it for me and my S/O), that means less time for my new side hustle, which could cost me around £300. We are getting a new kitchen and bathroom which will set us back a bit as well as some other payments that have come up. I'm also withdrawing £10k of equity from my house (hopefully). So this could completely skew my accounts. Let's see what happens I suppose. :)
Nice progess!
Out of curiosity, why do you have matched betting as a seperate column? Is there a chance of losing money somehow that warrants keeping track of overall progress or is simply because it's in your bookie account?
And how do you find these opportunities? I'm in the Netherlands so I'd need to lookup tax/laws/regulations but this sounds like a promising side hustle.
Thanks.
I have it in a separate column because it's technically cash that I can withdraw at any time, but it doesn't fit into my other columns. I'm tracking profit elsewhere which is slightly less than the figure above as I've deposited/withdrawn different amounts. I have loads of spreadsheets tracking how much I've bet/won/withdrawn/deposited/transferred etc, but the only thing that matters to my NET worth is how much of that money I 'have' which is the figure above.
I've seen someone else has posted that this is illegal in the Netherlands. Perhaps you might want to double check this, I'm thinking that our gambling laws should be quite similar because of the EU?
I actually got the idea off this forum (the UK section). There is a forum on the site I use and they post monthly 'profits'. A lot of people are earning £3k per month, tax free. Most people earn between £500-£1k per month though, which isn't bad going for a few hours work.
Are the promotions posted on the forum? Or are you just actively looking for promotional bets?
I haven't looked into it too much yet, but one thing I do know about Dutch law is that they differentiate between online gambling and offline gambling, with the former being illegal per se. Though facilitating gambling online is legal to a degree, most lotteries allow you to join and pay electronically, without ever seeing even a physical ticket. So I probably need to read more into it.
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@SansSkill
Yes, I'm using a company called Profit accumulator. But there is another big company here in the UK called Oddsmonkey. Once someone signs up to profit accumulator it gives you step by step instructions on what to do to gain promotional free bets with different bookies. These are called Sign Ups. There are 74 of these. Then you have Casino sign ups. There are 52. Once you have completed both of these you move onto reloads. These are offers such as 'Bet £10 on England to win the world cup, and we'll refund your bet if you lose' etc. They use these different offers to make money (because using exchange betting sites you can bet against this happening). There are currently 125 reload offers available, but that updates daily. You can look for promotions perosnally, but profit accumulator have a team who check all the T&C's of each offer and tell you which ones are profitable or not.
They also supply calculators which tell you how much to bet on your exchange sites etc. There is a forum where administrators help you with any questions. That costs £17.99 per month or £150 for a fully year.
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Savings:
July 31: €2400
August 30: €2000
September 27: €1300
October 30: €1400
November 30: €1600
December 29: €1100
February 1: €1100
February 28: €1300
March 29: €1300
April 30: €800
May 29: €2300
June 28: €3500
Investments:
July 31: €1985.37
August 30: €2095.00
September 27: €2253
October 30: €2461
November 30: €2622.06
December 29: €2661.50 (didn't do the monthly transfer yet)
February 1: €3021,56
February 29: €3101,58
March 29: €3160,54
April 30: €3439.66
May 29: €3729.27
June 29: €3890.53
Total:
July 31: €4385.37
August 30: €4095.00
September 27: €3553
October 30: €3861
November 30: €4222.06
December 29: €3761,50 (+ 740 unpaid salary = 4501.50 )
February 1: €4121,60
February 29: €4401,58
March 29: €4460,54
April 30: €4239.66
May 29: €6029.27
June: €7390.53
Goals for 31 December 2018:
Savings: €3000 €5000
Investments: €4500
Total: €7500 €9500
Finally got my tax return and hit my original savings goal! Generally late spring / early summer is when my savings are highest. I get a tax return, an extra month's wages from work and lots of overtime during this period (I've already worked €250 worth of overtime and I'm scheduled for another 3 weeks of overtime, which will bring in €750) .
After the summer we normally start a new project around the house. We might have started our yearly project a bit early .... we suddenly stopped having electricity in a part of the house (most of the area downstairs). So far, the electrician's bill is about €200 and it's still not working. They have managed to return the electricity in the kitchen and dining area, so that helps a lot. It's only the TV area that's without power now and we don't watch TV a lot in the summer. We are now breaking down parts of the wall in search of a junction box that we believe might be faulty. The electrician will return on Wednesday and we hope to have located the junction box ourselves before then so they can start fixing it straight away instead of spending more time making holes in the wall. We will temporarily fill in the holes when we're done, but the area will eventually need to be plastered again. Luckily, that was still on our to-do list. All in all I'm budgeting €500 for the short-term work. My insurance is of course claiming this is not something they cover, but once the work is done I'll send it in formally and we'll see. Luckily I am a member of our national homeowners association and I'll give them a call next week to see what they think. The yearly €25 membership fee has already saved us so much money over the years.
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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
March (30-3-18): 5191 6032
May (29-5-2018): 7682
June (30-6-2018): 8000
Steady climb upwards, just the way I like it :) Also for our joint account shows we are the richest we've ever been (finally beat the number before we went spending on limb dog and the car last year). I will likely slow down a bit with saving over the coming months, as I like to visit friends and family a bit more in the summer (which means € on transport, eating icecream and the like etc.)
@Imma, I didn't know the VEH had a legal service? Have been visiting their website more and more while preparing to buy a house... eventually. Very useful! Also finally joint a union, now that I'll be sticking in my current field for sure.
Edit: and then I went out and got new hiking shoes. My 10-year old pair were really done, so it's not an impulse buy. Still, -260 euro. Ah well. Number adjusted.
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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
May:
Checking account: €1801.27
Emergency Fund: €3000.00
Amortization Fund: €74.18
Goal Fund: €0.00
Investment: €2632.87
Total: €7508.32
June:
Checking account: €1902.13
Emergency Fund: €5000.00
Amortization Fund: €64.18
Goal Fund: €0.00
Investment: €3102.06
Total: €10068.37
Well, looks I'm done, and faster then expected, by my original estimate I'd be done by the end of August.
I'll be on holiday the latter part of the month but most if it is already paid for, so I don't expect to fall back down again.
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Good job Imma, Spruit! Great to see you meet your goals and have steady NW increases.
SansSkill; congrats on graduating the thread! Come join us in the race to 100k :)
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Congrats SansSkill! See you over in the next race.
June 2018 Update
3/31/2017 (52,848.85)
4/30/2017 (48,076.67)
5/31/2017 (47,110.22)
6/30/2017 (46,540.28)
7/31/2017 (44,354.10)
8/31/2017 (47,236.39)
9/30/2017 (42,436.10)
10/31/2017 (33,346.78)
11/30/2017 $(28,911.53)
12/31/2017 $(24,424.13)
1/31/2018 $(20,454.43)
2/28/2018 $(18,221.63)
3/31/2018 $(14,916.69)
4/30/2018 $(9,800.88)
5/31/2018 $(7,375.85)
6/30/2018 $(5,735.59) +1,640.26
Not too bad this month. I checked my average for the year and I'm averaging a monthly increase of just over $3K which is my goal. So I'm still on track to hit zero between August/September and $10K by year end. Next month may be a small increase though. I'm buying a new living room set (Ikea) and my DD will have fall classes to be paid through the 529 plan so I need to have a frugal month aside from those 2 items. At least I have a small raise coming this month!
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Congrats SansSkill!
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1/1/2018: $(170,956.12)
2/1/2018: $(166,849.63)
3/1/2018: $(161,395.88)
4/1/2018: $(156,590.44)
5/1/2018: $(152,997.61)
6/1/2018: $(149,175.48)
7/1/2018: $(143,748.22)
This was actually kind of a spendy month; I didn't add quite as much as it appears because my 401k contribution hit my account earlier than usual -- so the jump from June to July reflects two months' worth of 401k contributions instead of just one. But hey, still significant progress even accounting for that. My investment accounts just ticked over $50K, which feels great. And next month, my student loans will finally drop below $200K, which will also be a great milestone (though a much more depressing one).
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Next month may be a small increase though. I'm buying a new living room set (Ikea)...
Congrats on the raise and the progress. Chiming in to offer a frugal tip. Have you checked Craiglist for the Ikea items you're considering? Because everything has a name, it's easy to look for something on the secondary market. I once saw an Ikea bookcase at a consignment store. I thought the price was too high, plus I needed two of them. I checked CL, found one of each in two different cities and now I have a matched set for just a little more than the consignment store wanted for one, and for way less than buying new at Ikea.
However, if your wish list includes upholstered pieces, Ikea's tend not to hold up all that well, so used, unless very gently, may not be your best option. Maybe you do some of each and still save a few buxx.
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I second Dicey, 2nd hand Ikea stuff is the best! There's whole facebook groups devoted to it here and I'm still very happy with my couch at half the price :)
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2018
1/31 : (5949.05)
2/28 : (5288.30)
3/31 : (4273.93)
4/30 : (2592.07)
5/31 : (629.70)
6/30 : 1,206.77 !!
In the green for the first time!! I did have to take about $300 out of my emergency fund this month but my debt went down almost $1,700.00 and my investments went up $543.
Fell good to be in the positive net worth number!! Keeps working all you people in the negative you will be there before you know it!
Congratulations @SansSkill keep checking back on us but never look back for yourself.
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Next month may be a small increase though. I'm buying a new living room set (Ikea)...
Congrats on the raise and the progress. Chiming in to offer a frugal tip. Have you checked Craiglist for the Ikea items you're considering? Because everything has a name, it's easy to look for something on the secondary market. I once saw an Ikea bookcase at a consignment store. I thought the price was too high, plus I needed two of them. I checked CL, found one of each in two different cities and now I have a matched set for just a little more than the consignment store wanted for one, and for way less than buying new at Ikea.
However, if your wish list includes upholstered pieces, Ikea's tend not to hold up all that well, so used, unless very gently, may not be your best option. Maybe you do some of each and still save a few buxx.
Yup I checked craigslist and the type I want didn't come up and to be honest used furniture kind of grosses me out. The whole set new is about $1,000 so not bad. I'm slowly trying to get our home looking like a "grown ups" house with matching furniture and curtains. The living room is my first project.
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2018
1/31 : (5949.05)
2/28 : (5288.30)
3/31 : (4273.93)
4/30 : (2592.07)
5/31 : (629.70)
6/30 : 1,206.77 !!
In the green for the first time!! I did have to take about $300 out of my emergency fund this month but my debt went down almost $1,700.00 and my investments went up $543.
Fell good to be in the positive net worth number!! Keeps working all you people in the negative you will be there before you know it!
Congratulations @SansSkill keep checking back on us but never look back for yourself.
I'll be waiting for you in the other thread, at the rate you're currently killing it it shouldn't take too long!
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Next month may be a small increase though. I'm buying a new living room set (Ikea)...
Congrats on the raise and the progress. Chiming in to offer a frugal tip. Have you checked Craiglist for the Ikea items you're considering? Because everything has a name, it's easy to look for something on the secondary market. I once saw an Ikea bookcase at a consignment store. I thought the price was too high, plus I needed two of them. I checked CL, found one of each in two different cities and now I have a matched set for just a little more than the consignment store wanted for one, and for way less than buying new at Ikea.
However, if your wish list includes upholstered pieces, Ikea's tend not to hold up all that well, so used, unless very gently, may not be your best option. Maybe you do some of each and still save a few buxx.
Yup I checked craigslist and the type I want didn't come up and to be honest used furniture kind of grosses me out. The whole set new is about $1,000 so not bad. I'm slowly trying to get our home looking like a "grown ups" house with matching furniture and curtains. The living room is my first project.
But this is the MMM Forum! Spending $1k on brand-new living room furniture when you have < $10k saved is face-punch worthy. It looks like you just dug yourself out of a hole (Congratulations!) and you have a raise coming (Yay), which are both wonderful, but spending $1k on a depreciating asset at this point in your financial journey is a huge mistake if FI is truly your goal. This has Consumer Sukka written all over it. Sorry, someone had to say it. It's much better to have your finances look like "grown-ups" than your living room.
At least I hope you can tell it's a gentle face punch and not a roundhouse.
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June emergency fund update: $4236 (-$494)
Time to go back up.
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Congrats @SansSkill on graduating! And good job everyone else :)
@haypug16 Dicey is kind of right, but I know how you feel. Our house looks exactly like that. I consider myself to be quite frugal and not a consumer sucka but I wish I had matching curtains. In the living room we have two different curtains in one window and it hurts my eyes. Although we're slowly replacing furniture we dislike with cheap/free (used) furniture we like, our place certainly doesn't look like a "real grown up" place. On a bad day I hate having people over and I longingly look at my neighbour's house - we both bought old houses in need of a LOT of TLC, she bought it almost two years later and hers looks Pinterest-worthy now. On a good day I remember all of that material stuff doesn't matter, because true friends visit to see us, not our furniture, and the lady next door can't afford to repair the fence that broke in January, while I have almost a year's expenses in the bank and a lower mortgage.
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Could buying used furniture but getting it cleaned be a manageable middle ground? If it still costs less than new and that's what you need to feel comfortable with it, it could be worth investigating.
Just brainstorming though - we're on our third free secondhand couch.
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7/13/2017: $2,238.41
8/1/2017: $2,771.40
8/16/2017: $3,071.40
9/1/2017: $3,202.61
9/15/2017: $3,502.63
10/2/2017: $3,807.67
10/16/2017: $4,021.00
11/1/2017: $4,121.00
11/16/2017: $4,208.73
12/1/2017: $4,267.73
12/15/2017: $4,532.82
12/30/2017: $4,864.78
1/16/2018: $8,114.78
2/2/2018: $8,424.59
2/19/2018: $8,431.24
3/30/2018: $8,614.89
4/16/2018: $8,742.36
5/1/2018: $8,905.80
5/16/2018: $9,005.80
6/14/2018: $9,020.38
7/1/2018: $9,112.55
Effing vet bills. I was literally JUST last week thinking, "hmm, moneypit dog hasn't cost any extra money recently," and then bam, $200 to the vet this morning. The good news is that I could cash flow it without dipping into the moneypit dog's e-fund...the bad news is that it ate up what would have otherwise been a nice catch-up boost for the house. That seems to be a running theme.
Also, big news: my SO and I got officially engaged! Planning to knock out the last $1,000 on the house fund, and then start saving aggressively for wedding stuff.
I will not weight in on the couch debate, since I am not pro-used soft furniture after a bedbug issue in an old apartment building.
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Congrats, @fluffmuffin !!
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BoI savings a/c: 70.00
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.
BoI savings a/c: 80.00
DiBa ETF: 772.38
CmzBank savings a/c: 850.00
Total: 1,702.38
Annual accounts currently sitting at 650 and 150, respectively. Holiday in May ended up being a lot more expensive than planned. My sister wanted to do up mum's grave, which has been a bit neglected (I am positive my dad paid for maintenance in perpetuity or something like that when she died, but apparently that actually only means a couple of decades of it being spritzed with weedkiller every once in a while or something). And of course the stones covering it are one of the most expensive types. We just bought enough to top up the very bare spots but it was still a fair chunk of change. I had been trying to gently persuade my sister that I didn't have to be at the christening but it turns out she wants me to be godmother to one of the twins, so I kind of have to be there. The only dates that work, for a multitude of reasons, are ones where I cannot even get a half-day free from work so it means a Friday evening flight out and then Sunday evening back, which is never the cheap option. Oh well. It's a year where I'm placing my priorities more on family than savings and I know that. It will be nice to see my other sister and her kids who will be there from France as well. It has been over a year since I saw them.
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Congratulations on your engagement @fluffmuffin !!
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Congrats @fluffmuffin !
And @Moonwaves : you're still making progress, and family is important. I'm sure it will be a lot of fun seeing your sisters and nieces and nephews, and being asked as a godfather is a big honour.
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Thanks for the face-punch. I have done yet another online search for the living room set I want. I did find the sofa and will hopefully check it out this week, saving a couple hundred bucks. The love-seat I also found in a different color so would need to purchase the matching slipcover for it and that would actually bring it up to about the cost of a new love-seat so I will mostly order this new.
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Good job haypug! That's another little step closer to thread-graduation :)
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@SansSkill
Yes, I'm using a company called Profit accumulator. But there is another big company here in the UK called Oddsmonkey. Once someone signs up to profit accumulator it gives you step by step instructions on what to do to gain promotional free bets with different bookies. These are called Sign Ups. There are 74 of these. Then you have Casino sign ups. There are 52. Once you have completed both of these you move onto reloads. These are offers such as 'Bet £10 on England to win the world cup, and we'll refund your bet if you lose' etc. They use these different offers to make money (because using exchange betting sites you can bet against this happening). There are currently 125 reload offers available, but that updates daily. You can look for promotions perosnally, but profit accumulator have a team who check all the T&C's of each offer and tell you which ones are profitable or not.
They also supply calculators which tell you how much to bet on your exchange sites etc. There is a forum where administrators help you with any questions. That costs £17.99 per month or £150 for a fully year.
I've looked into this a little bit myself a while ago (in Norway). The biggest issue seems to be that the betting companies detect that you do this and close your account. Have you experienced this so far, or heard anything about this?
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Good job haypug! That's another little step closer to thread-graduation :)
Thanks, I actually found one for FREE! hoping it goes through and I pick it up next week. Hopefully they are not CL flakes! I'll have to rent a u-Haul but that's pretty inexpensive.
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Wowza, on vacation for the last couple of weeks and missed a few updates! Here's the end of June update, and I'll be hopping in shortly to hopefully run a mid-July update to get back to tracking things :)
End of May 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)
4/30/18: (11,771)
5/31/18: (6,744)
6/16/18: (3,153)
6/30/18: (1,596)
Assets [401ks, IRAs, HSA, Cash]: $56,630
Student Loan/CCs: (58,227)
Hopefully done with the large purchases/trips/etc so things should start getting back on track quickly! And we're THIS CLOSE to seeing a positive net worth for the first time ever, really. Exciting!
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Good job haypug! That's another little step closer to thread-graduation :)
Thanks, I actually found one for FREE! hoping it goes through and I pick it up next week. Hopefully they are not CL flakes! I'll have to rent a u-Haul but that's pretty inexpensive.
Wow! Way to go, haypug16!
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Mid-July update - First time ever with positive Net Worth! Yahoooo!
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)
4/30/18: (11,771)
5/31/18: (6,744)
6/16/18: (3,153)
6/30/18: (1,596)
7/13/18: 394
Assets [401ks, IRAs, HSA, Cash]: $58,281
Student Loan/CCs: (57,887)
It's small but it's real! And I expect these numbers to improve quickly since I'll be putting an extra payment toward student loans this month. This is coming a little earlier than anticipated what with having a couple of spendy months but a raise and a bonus that took effect made it possible. So excited to finally have a positive net worth!
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Look out, zeli2033, it's amazing how it grows!
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Look out, zeli2033, it's amazing how it grows!
You are so right! When I'm in the middle of the grind and paying attention to the numbers on a daily basis, it can feel so slow. But when I actually take a step back and reflect on where we were at in the beginning of the year, I realize how astonishing and amazing it really is! The perspective shift is key.
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Congrats @zeli2033 !! Crossing over the zero is huge!
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Look out, zeli2033, it's amazing how it grows!
You are so right! When I'm in the middle of the grind and paying attention to the numbers on a daily basis, it can feel so slow. But when I actually take a step back and reflect on where we were at in the beginning of the year, I realize how astonishing and amazing it really is! The perspective shift is key.
Your net worth grew by nearly 50k in a little over half a year! You're doing an amazing job. Imagine where you'll be in a year! If you continue like this, you will not only be graduated from this thread but from the next one as well!
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@SansSkill
I've looked into this a little bit myself a while ago (in Norway). The biggest issue seems to be that the betting companies detect that you do this and close your account. Have you experienced this so far, or heard anything about this?
Yes, the phrase for it is being 'gubbed'. Gubbings are pretty common, I've been matched betting for just over a month (with a week on holiday included) and already been gubbed by one site.
It's not a big deal though... There's over 300 bookies that constantly offer promotions/reloads. You'd do really well to get gubbed by all of them without making some serious money. Even once you're gubbed you can use those accounts to make small profits using a method called 'arbing'. The other profit accumulator users on the forums say that you can 'mug bet' to reduce the speed/volume of gubbings. This basically means acting like a normal punter. (betting on mobile devices, betting in-play, using accumulators, cashing out etc). You can even match these bets so you only lose a small amount. The bookie see's me place a £10 bet on the world cup final, in play, on my mobile phone. Then I cash out with 10 mins to go... But the bet 'only' costs me 50p, which is worth it to keep the account 'healthy'. This looks good compared to me placing a £10 on a football game in the Colombian second division, two days before it takes place etc.
If you have any questions about it feel free to PM me. I'm conscious that I'm taking this thread way off topic, especially considering there are only a few people on the thread who can do this side hustle legally! :P
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@zeli2033
Well done! You really are smashing through this. Day to day this accumulation process IS slow. Rome wasn't built in a day and all that... but you're well on your way to FIRE. The amount your adding to your N/W is phenomenal!
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7/13/2017: $2,238.41
8/1/2017: $2,771.40
8/16/2017: $3,071.40
9/1/2017: $3,202.61
9/15/2017: $3,502.63
10/2/2017: $3,807.67
10/16/2017: $4,021.00
11/1/2017: $4,121.00
11/16/2017: $4,208.73
12/1/2017: $4,267.73
12/15/2017: $4,532.82
12/30/2017: $4,864.78
1/16/2018: $8,114.78
2/2/2018: $8,424.59
2/19/2018: $8,431.24
3/30/2018: $8,614.89
4/16/2018: $8,742.36
5/1/2018: $8,905.80
5/16/2018: $9,005.80
6/14/2018: $9,020.38
7/1/2018: $9,112.55
7/16/2018: $9,421.18
Finally a pay period with nothing but routine expenses!!! Hallelujah.
Also, it's my one-year anniversary on this thread! I've added $7,182.77 to the down payment fund.
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Woohoo, congrats! Looks like you will not be sticking around for another year, you're so close!
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Getting Started Here. I work a seasonal job so now to December are prime earning times.
Balance as of July 16, 2018 - $3.00
Target is to save $9000 Emergency Fund, and the other $1000 in investments.
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Getting Started Here. I work a seasonal job so now to December are prime earning times.
Balance as of July 16, 2018 - $3.00
Target is to save $9000 Emergency Fund, and the other $1000 in investments.
Go, @MrMovieM, go! You'll find a lot of inspiration here. Speaking for myself, when I accumulated a reasonable emergency fund, it alleviated some anxiety. If you don't have anxiety, good for you - but it could increase your confidence.
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Thanks Candace, I do get Anxiety around money, and have had for a few years. I cant wait for more peace of mind.
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You're in the right place! Lots of people in this thread started in the negatives, so you can consider yourself well on your way.
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Thanks for the encouragement Trifele, Imma and Manchester! So very appreciated. And congrats on the progress you’ve made @fluffmuffin - you’ll be onto the next thread in no time!
Welcome, @MrMovieM! Happy to have you here.
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Getting Started Here. I work a seasonal job so now to December are prime earning times.
Balance as of July 16, 2018 - $3.00
Target is to save $9000 Emergency Fund, and the other $1000 in investments.
Good luck! I think $9,000 is a reasonable price to pay for good mental health and reduced anxiety. You might find that have a few k in investments will help as well. Whether you're investing or just saving at least you're not spending! :)
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10/31/17: $678.64
11/30/17: $994.99
12/31/17: $1,304.58
7/19/18: $1,005.05
Getting back on the horse so to speak. Ended up taking a hiatus from the forums because the first half of this year was just crazy with graduation, engagement, etc. Savings definitely took a hit these last 6 months but back up to 1k again.
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Just binge-read through this thread for motivation. I am currently in the "Race to Positive Net Worth" thread sitting at -$52,806.31.
Manchester...love your chart! I hope you don't mind if I use it to track my progress.
Can't wait to join you guys!!
Of course not! I've robbed a few ideas off other posters on this forum. :P
I'll have a read on that thread and keep an eye on your posts. You should feel free to post in here as well, we have a few people who're in a negative NET worth on here. I don't think there is a better thread on the forum for support/motivation! :)
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Hi Everyone.
Here's my update for the month:
My current account is up £454.97. This is a mixture of me slowing down my emergency fund savings (because I'm over my £2k target now), and some withdrawals from my matched betting came into my bank on Friday, so I've not reinvested a bit of it so far.
Savings are up £83.75. I send a fixed amount into our joint account each month. This covers household bills, mortgage, etc. I've been reducing the bills somewhat, so any extra I save I transfer straight into savings. I also earnt 30p interest this month... I'll be retired in no time. :')
My pension fund is up £517.48.
My matched betting accounts hold an extra £118.99. I've also withdrawn £218.23 into my current account since I last posted an update. The world cup has finished, so the bookies don't offer as many good offers now that there aren't as many big sporting events. This next month could be quiet on this front.
I actually have 4p worth of credit on my credit card. I accidentally transferred too much money across. :')
(http://i65.tinypic.com/opspix.png)
(http://i65.tinypic.com/esvode.png)
Total N/W increases this month is £1,175.33. It's my third month in a row hitting £1k+. I was only £27 off having my best month. I went on a holiday which reduced my earnings slightly. In April I was 54% off where I should have been at that point to hit my target. Now I'm 20% off. This three month burst has put me right back on track to graduate by Christmas! :)
Things are still rumbling on generating money for some much needed home improvements. Any left overs will be invested. This 'should' happen next month, but we're still waiting on the bank to pull their finger out!
As a side note it's really good seeing new people on here as well as old faces returning. There's a few people who're on the cusp of graduating. With all of your motivation I feel like FIRE is possible!
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As of payday today, I am one month from the magical 10k emergency fund. It's been a hell of a week - I interviewed on Wednesday for an internal transfer that would see my salary jump almost 25% and my commuting expenses fall to zero, and then today I received academic results confirming that I now have a designation that entitles me to a 6% raise. With a bit of luck, I should finish July with a full emergency fund and a major new financial target.
Well, that was an interesting month. A few expenses (mostly Hamilton tickets for while we're in the US for holidays) came up that effectively negated June's savings entirely, leaving me still a month away from the 10k mark. In the meantime, though, I've been offered (and have accepted) a new role which carries a significant salary uplift and a chance to regain a lot of control over the structure of my working day.
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As of payday today, I am one month from the magical 10k emergency fund. It's been a hell of a week - I interviewed on Wednesday for an internal transfer that would see my salary jump almost 25% and my commuting expenses fall to zero, and then today I received academic results confirming that I now have a designation that entitles me to a 6% raise. With a bit of luck, I should finish July with a full emergency fund and a major new financial target.
Well, that was an interesting month. A few expenses (mostly Hamilton tickets for while we're in the US for holidays) came up that effectively negated June's savings entirely, leaving me still a month away from the 10k mark. In the meantime, though, I've been offered (and have accepted) a new role which carries a significant salary uplift and a chance to regain a lot of control over the structure of my working day.
Congrats! That sounds like a great improvement!
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^^This^^. Plus OMG for Hamilton. Watch everything you can find on YT. Great show.
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In trying to modify this post I ended up quoting weirdly...
Total net worth = -$17,876
Car loan = -$6,899
Student loan = $-27,593
Credit card = 0 (It has been bothering me so I just used my savings. I couldn't do it anymore)
401K - $13,974
Checking - $120
Savings - 2500$
I had hoped to get my savings to $10,000, but having credit card debt really was gnawing on me so I just payed it off and plan to cancel the credit card or just put it aside for emergencies. I have reset my goals a bit. I want to pay off my car at the end of the year and have $6,000 in savings then. I want to start tackling student loan soon and not just paying the minimum.
In trying to modify this post I ended up quoting weirdly...
I have had zero good money habits in the last two months. I just went completely unrestricted with going out with friends. I am now back to reality where no more going crazy and time to go back to cooking and organization. I also started running this week so coming here to remind myself what my goals are.
Total net worth = -$16,062
Car loan = -$6,592
Student loan = $-27,393
401K - $14,723
Checking - $1301 (Bills not yet paid)
Savings - 2000$
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I was on vacation the last couple weeks so I'm very far behind in all the MMM threads I follow. I hope everyone here is doing well and getting closer to graduation every day!
July was not a good month for me. I will be lucky to break even with last month. This is mostly due to my daughter's tuition for the upcoming fall (which I had saved in a 529 plan) and my Car Insurance which I pay all at once. The good news is that my Credit Cards will not have a balance carried forward :) even if my Net-Worth stays the same. I'll do an official update hopefully tomorrow.
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July 2018 Update
3/31/2017 (52,848.85)
4/30/2017 (48,076.67)
5/31/2017 (47,110.22)
6/30/2017 (46,540.28)
7/31/2017 (44,354.10)
8/31/2017 (47,236.39)
9/30/2017 (42,436.10)
10/31/2017 (33,346.78)
11/30/2017 $(28,911.53)
12/31/2017 $(24,424.13)
1/31/2018 $(20,454.43)
2/28/2018 $(18,221.63)
3/31/2018 $(14,916.69)
4/30/2018 $(9,800.88)
5/31/2018 $(7,375.85)
6/30/2018 $(5,735.59)
7/31/2018 $(7,109.58) -$1,373.99 decrease : (
Bad month (for reasons listed above) but I'm getting myself back on track for the rest of the year and still think I can graduate by the end of the year. I was looking over my 2017 vs 2018 numbers and I've spend $3,500 less this year! Pretty proud of that. Goal for August is to get to $(4,000) and to have my yearly spending to be $6K less than 2017.
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ooof, I hate the spendy months haypug especially when it's for annual or hefty expenses (I had to pay car insurance this month as well). But keep it up! You'll be back on track in no time. We've been feeling the squeeze the last couple of months as well (actually in our case, it was spending with reckless abandon), I'm thinking about joining your Uber Frugal August gauntlet...
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End of July 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)
4/30/18: (11,771)
5/31/18: (6,744)
6/16/18: (3,153)
6/30/18: (1,596)
7/13/18: 394
7/31/18: 4,624
Assets [401ks, IRAs, HSA, Cash]: $61,577
Student Loan/CCs: (56,954)
Things are starting to get back to normal with spending levels. Since I'm steadily throwing extra money at the student loan, I feel confident that I'll be able to graduate this thread by end of September so that's the goal! Granted I think a couple of medical bills might pop up next month but fingers crossed it doesn't knock everything off track...
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Zeli, everything always seems to come at once but I'm so glad I have found this site and I was much more prepared for the bills this year. I am thinking about making some changes to my Insurance in the hopes of getting some money back. The car is a 2009 Yaris and it seems silly to have collision coverage on something that could easily be considered totaled in an accident and I think it's current value is like $3K maybe $4K.
Anyway, come and join the Frugal August. It's my first time starting a Gauntlet :)
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I totally understand that feeling on collision coverage. But of course last year when I tried to go without it, we were rear-ended and thus had no coverage. Luckily we were in a rental car that I'd used a credit card to pay for and were able to leverage the rental car insurance clause. We didn't end up losing any money but that made us bite the bullet on collision insurance mostly out of fear. Once we have enough money to cover replacing our car if it were to be totaled and we're more financially secure, I will absolutely be making the push to start cutting back on coverage.
Once I wrap my head around a realistic uber frugal goal for August, I'll definitely be joining! Looking forward to it.
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Savings:
July 31: €2400
August 30: €2000
September 27: €1300
October 30: €1400
November 30: €1600
December 29: €1100
February 1: €1100
February 28: €1300
March 29: €1300
April 30: €800
May 29: €2300
June 28: €3500
July 31: €3250
Investments:
July 31: €1985.37
August 30: €2095.00
September 27: €2253
October 30: €2461
November 30: €2622.06
December 29: €2661.50 (didn't do the monthly transfer yet)
February 1: €3021,56
February 29: €3101,58
March 29: €3160,54
April 30: €3439.66
May 29: €3729.27
June 29: €3890.53
July 31: €4106.20
Total:
July 31: €4385.37
August 30: €4095.00
September 27: €3553
October 30: €3861
November 30: €4222.06
December 29: €3761,50 (+ 740 unpaid salary = 4501.50 )
February 1: €4121,60
February 29: €4401,58
March 29: €4460,54
April 30: €4239.66
May 29: €6029.27
June: €7390.53
July 31: €7356.20 ( + €70 on my credit card, so really €7426.20)
Goals for 31 December 2018:
Savings: €3000 €5000
Investments: €4500
Total: €7500 €9500
One year in this thread and my net worth has nearly doubled!! Seems like a lot of people are getting close to graduating! I know what a spendy month feels like, we had one too :( We had some unexpected repairs - but at least the electricity is working again - I bought about €150 worth of clothes, took a train trip nearly every weekend and then there's tuition / books coming up as well.
I'm not a spendypants when it comes to clothes, but I need to look presentable for work and my work pumps needed to be replaced. There's only one brand of heels I can tolerate wearing and they are around €100/pair, but considering how often I wear them, that's not an insane amount to spend.
I also had a special occasion that I bought a dress for, which was about €40 and the day after that occasion we received an invitation to a wedding. With the new dress and new shoes, I don't need anything for that wedding. I have a lovely vintage purse from the 60s that I got from my grandma that looks really nice with the dress. I also ordered another dress that I returned, which means I've got a +€70 balance on my credit card now. In my country, you can't use a credit card in the grocery store and and transferring the money back to my account costs money, so that balance is going to sit there until I order something else online. That slightly annoys me :)
From next month my savings are going to go up and down a lot. I'm starting a Master's and will pay tuition seperately for every class. I have also applied for a (0% interest) student loan for all these classes. I'm paying my tuition in full because there's a 5% fee if you pay in installments, but student loans are paid out in installments and only after you send in the invoice. This means it's good to have savings, even if your tuition is 100% covered by student loans.
( In this thread I'm only tracking investments and savings, so the student loans don't affect my progress here. I currrently have about €3k in student loans from undergrad and will add about €3-5k to that over the next two years, but my undergrad loans not due until next year, interest is close to 0%, and the minimum payment is related to income. We also have about €20k equity in our home, but I don't want to count my eggs before they are laid. )
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7/13/2017: $2,238.41
8/1/2017: $2,771.40
8/16/2017: $3,071.40
9/1/2017: $3,202.61
9/15/2017: $3,502.63
10/2/2017: $3,807.67
10/16/2017: $4,021.00
11/1/2017: $4,121.00
11/16/2017: $4,208.73
12/1/2017: $4,267.73
12/15/2017: $4,532.82
12/30/2017: $4,864.78
1/16/2018: $8,114.78
2/2/2018: $8,424.59
2/19/2018: $8,431.24
3/30/2018: $8,614.89
4/16/2018: $8,742.36
5/1/2018: $8,905.80
5/16/2018: $9,005.80
6/14/2018: $9,020.38
7/1/2018: $9,112.55
7/16/2018: $9,421.18
8/1/2018: $9,545.20
Not great but still moving in the right direction for now. Unfortunately, I'll probably have to take out some money by the mid-month update--I need to put down a ~$350 deposit for a wedding thing, and usually I can only cashflow ~$250 per paycheck. I have a WHOLE YEAR of not taking money out of this fund, so I don't want to break the streak. Buttttt my best friend is coming to stay with us next weekend. We'll do mostly cheap stuff (local hikes, free museums) but realistically we're also going to go to a couple of breweries and eat out at least once. So I can't just zero out my entertainment and eating-out line items like I normally would. Plus my fiance's birthday is later this month, and what was supposed to be a thoughtful/cheap handmade gift is going to end up being more expensive than anticipated (of course).
It sounds like July/August have been spendypants months for a few other folks as well. But that's okay! It happens and we will all get through it.
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2018
1/31 : (5949.05)
2/28 : (5288.30)
3/31 : (4273.93)
4/30 : (2592.07)
5/31 : (629.70)
6/30 : 1,206.77
7/31 : 2,703.97
Moved in the right direction again this month. Debt fell by $780.00. Investments added $1900.00. I did have to take a good chunk out of my emergency fund though this month. Seems like multiple people had a spendy month. Hoping to go frugal the month of august (Hoping DW helps out) and @haypug16 look for me on your challenge!
Going in the correct direction and I am going to try to push and graduate out of this thread this year (might be a long shot but gives me something to strive for).
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1/1/2018: $(170,956.12)
2/1/2018: $(166,849.63)
3/1/2018: $(161,395.88)
4/1/2018: $(156,590.44)
5/1/2018: $(152,997.61)
6/1/2018: $(149,175.48)
7/1/2018: $(143,748.22)
8/1/2018: $(138,734.38)
A surprisingly good month given how much I spent (3/4 weekends I was out of town for vacations or reunion weekends with various friend groups) -- much of it attributable to some good movement in the markets. I don't currently have any travel planned for August, so I'm looking forward to a more frugal month.
Also, my student loans are finally under $200K!! $198,597.98 is still a horrifyingly huge amount, but I'm celebrating this milestone nonetheless.
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1/1/2018: $(170,956.12)
2/1/2018: $(166,849.63)
3/1/2018: $(161,395.88)
4/1/2018: $(156,590.44)
5/1/2018: $(152,997.61)
6/1/2018: $(149,175.48)
7/1/2018: $(143,748.22)
8/1/2018: $(138,734.38)
A surprisingly good month given how much I spent (3/4 weekends I was out of town for vacations or reunion weekends with various friend groups) -- much of it attributable to some good movement in the markets. I don't currently have any travel planned for August, so I'm looking forward to a more frugal month.
Also, my student loans are finally under $200K!! $198,597.98 is still a horrifyingly huge amount, but I'm celebrating this milestone nonetheless.
Congrats on the progress!! That's 5k in the right direction! And student loans under 200k is defnitely a milestone worth celebrating. Of course it's still a massive amount of debt, but that's why it's important to stay motivated and celebrate small milestones.
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So I just realized that I have been included a savings account that is meant for paying off a Home Improvement into my Net-Worth. The account will be zeroed out this month so $2.5k of my NW will go away. I really thought I had excluded it since I knew it was ear marked for a bill I needed to pay by September (0% loan) oh well. Good thing I'm doing this Uber Frugal August thing.
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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
March (30-3-18): 6032
May (29-5-2018): 7682
June (30-6-2018): 8000
July (6-8-2018): 8997
Just 3 euros short of hitting that 9k! I could probably find it in my purse / car / house somewhere, but that feels like cheating.
I've changed jobs between July and August, so the part of my salary that's saved up by my employer + overtime was paid out in July by my previous employer. All in all, almost twice as much money coming in this July compared to the months before.
I also had an irregular bill (tuition reimbursement that had to be paid back, ~500 euros), so I had extra income and extra costs line up nicely.
Not completely relevant to this thread, but I'm also very happy that we came in under budget for our two week trip (to Switzerland, which is known to be expensive). I was afraid we'd be over a bit, but my "internal accountant" had not taken the exchange rate from Franks to Euros fully into account. This means we have some joint vacation savings left over for another time.
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Nice one @Spruit
You're so close to graduating!
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So I just realized that I have been included a savings account that is meant for paying off a Home Improvement into my Net-Worth. The account will be zeroed out this month so $2.5k of my NW will go away. I really thought I had excluded it since I knew it was ear marked for a bill I needed to pay by September (0% loan) oh well. Good thing I'm doing this Uber Frugal August thing.
On the bright side it will be nice to have your company in this thread for a little while longer! You'll smash your target soon enough.
How's this uber frugal August going? Have you noticed a difference in your numbers?
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Excited to keep seeing progress for everyone here - keep it up!!!
Mid-Month August 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)
4/30/18: (11,771)
5/31/18: (6,744)
6/16/18: (3,153)
6/30/18: (1,596)
7/13/18: 394
7/31/18: 4,624
8/15/18: 7,093
Assets [401ks, IRAs, HSA, Cash]: $62,545
Student Loan/CCs: (55,452)
Amending my graduation projection from end of September to by mid-September paycheck!
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So I just realized that I have been included a savings account that is meant for paying off a Home Improvement into my Net-Worth. The account will be zeroed out this month so $2.5k of my NW will go away. I really thought I had excluded it since I knew it was ear marked for a bill I needed to pay by September (0% loan) oh well. Good thing I'm doing this Uber Frugal August thing.
On the bright side it will be nice to have your company in this thread for a little while longer! You'll smash your target soon enough.
How's this uber frugal August going? Have you noticed a difference in your numbers?
Frugal August is going very well. It should be my lowest spend month of the year (last year it was by far my highest)
Mid-August 2018 Update
3/31/2017 (52,848.85)
4/30/2017 (48,076.67)
5/31/2017 (47,110.22)
6/30/2017 (46,540.28)
7/31/2017 (44,354.10)
8/31/2017 (47,236.39)
9/30/2017 (42,436.10)
10/31/2017 (33,346.78)
11/30/2017 $(28,911.53)
12/31/2017 $(24,424.13)
1/31/2018 $(20,454.43)
2/28/2018 $(18,221.63)
3/31/2018 $(14,916.69)
4/30/2018 $(9,800.88)
5/31/2018 $(7,375.85)
6/30/2018 $(5,735.59)
7/31/2018 $(7,109.58)
8/15/2018 $(9,871.98) Decrease of $2,762.40
The decrease was expected, this is from the savings account I had earmarked to pay off a home improvement project, it should never really have been included. So it's a reduction of Assets as apposed to an increase in Debt. I am OK with that but wish I had thought to take it out earlier or better yet never included it. I'm hoping to end the month around where I ended July, hitting zero mid-Fall, and $10K in early 2019
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7/13/2017: $2,238.41
8/1/2017: $2,771.40
8/16/2017: $3,071.40
9/1/2017: $3,202.61
9/15/2017: $3,502.63
10/2/2017: $3,807.67
10/16/2017: $4,021.00
11/1/2017: $4,121.00
11/16/2017: $4,208.73
12/1/2017: $4,267.73
12/15/2017: $4,532.82
12/30/2017: $4,864.78
1/16/2018: $8,114.78
2/2/2018: $8,424.59
2/19/2018: $8,431.24
3/30/2018: $8,614.89
4/16/2018: $8,742.36
5/1/2018: $8,905.80
5/16/2018: $9,005.80
6/14/2018: $9,020.38
7/1/2018: $9,112.55
7/16/2018: $9,421.18
8/1/2018: $9,545.20
8/15/2018: $9,545.20
SOMEHOW managed to squeak the $350 I needed out of the budget for the rest of the month. I kind of don't believe it but I've checked YNAB multiple times and all of my recurring expenses are taken care of, I have a liveable grocery budget, and money for my friend's visit? IDK. I feel like it's lying to me but we'll see.
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I'm sure the numbers don't lie, but I know the feeling. Nice work!
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7/13/2017: $2,238.41
8/1/2017: $2,771.40
8/16/2017: $3,071.40
9/1/2017: $3,202.61
9/15/2017: $3,502.63
10/2/2017: $3,807.67
10/16/2017: $4,021.00
11/1/2017: $4,121.00
11/16/2017: $4,208.73
12/1/2017: $4,267.73
12/15/2017: $4,532.82
12/30/2017: $4,864.78
1/16/2018: $8,114.78
2/2/2018: $8,424.59
2/19/2018: $8,431.24
3/30/2018: $8,614.89
4/16/2018: $8,742.36
5/1/2018: $8,905.80
5/16/2018: $9,005.80
6/14/2018: $9,020.38
7/1/2018: $9,112.55
7/16/2018: $9,421.18
8/1/2018: $9,545.20
8/15/2018: $9,545.20
SOMEHOW managed to squeak the $350 I needed out of the budget for the rest of the month. I kind of don't believe it but I've checked YNAB multiple times and all of my recurring expenses are taken care of, I have a liveable grocery budget, and money for my friend's visit? IDK. I feel like it's lying to me but we'll see.
@fluffmuffin, that's awesome... the fact that it feels incredible, as in, unbelievable, is a testament to you and the work you are putting into this. Way to go.
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Hi Everyone,
My numbers are correct as of 22/08/2018, I'm just posting a couple days late!
Important thing to note is it's another £1k+ month. If I keep going at this rate I should smash my target of graduating this thread on 22/12/2018. My current account, savings and pension pot are all up. I've withdrawn quite a bit of money from Matched Betting so that has reduced, but it probably explains why my current account is higher than normal (I made roughly £200 profit from it last month).
(http://i66.tinypic.com/t87nzt.png) (http://i65.tinypic.com/2euibvb.png)
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So I apologize for disappearing and not updating. I left my avatar the same, but I decided to change my forum name to be more anonymous. I used my old handle on other places on the web and I decided that was a bad idea.
Anyway, remember when I said things couldn't get worse after my dog died and we finally finished moving? Well, things got worse. My boyfriend of 4 years decided to break up with me. We had an extremely happy relationship. I really wanted to spend my life with him. He decided he wanted to be alone and forge his own path through the world without me and without anymore. He just wants to be totally alone. I don't understand it at all. This is not a 20 something year old needing to find himself. The man is in his 50s. But, hey, I still have my job? (Uhhh, knock on wood?)
I didn't visit here for a while after that. Coming here just reminded me that my dreams were shattered and I was now a single person with one income. But it's time to start again.
I'm currently crashing at my parent's house. I will move into a 1 bedroom apartment on Sept 1st. (And will be paying $300/mo more in rent than I was paying before with the boyfriend. Ouch.) I feel like I'm just bleeding money right now. I found a nice used couch on Craigslist. Now I need to find a coffee table. I just bought a vacuum, a toaster, garbage bins, a bathroom scale, etc. I'll need to make a major Target run to stock up on TP, paper towels, toothpaste, etc. Stupid little stuff that just adds up. I also flew out to Washington and went backpacking with a friend for a week. But I needed to do that. I don't regret spending that money.
So I'm here again. The ol' e-fund actually went up a little through all this, due to August being a 3 paycheck month and I didn't have to pay rent anywhere either.
Anyway, that's my update. Emergency fund: $5398
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Glad to hear from you, life really has given you lemons it seems :(
I hope that emergency fund serves its purpose and helps you through this transition.
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So I apologize for disappearing and not updating. I left my avatar the same, but I decided to change my forum name to be more anonymous. I used my old handle on other places on the web and I decided that was a bad idea.
Anyway, remember when I said things couldn't get worse after my dog died and we finally finished moving? Well, things got worse. My boyfriend of 4 years decided to break up with me. We had an extremely happy relationship. I really wanted to spend my life with him. He decided he wanted to be alone and forge his own path through the world without me and without anymore. He just wants to be totally alone. I don't understand it at all. This is not a 20 something year old needing to find himself. The man is in his 50s. But, hey, I still have my job? (Uhhh, knock on wood?)
I didn't visit here for a while after that. Coming here just reminded me that my dreams were shattered and I was now a single person with one income. But it's time to start again.
I'm currently crashing at my parent's house. I will move into a 1 bedroom apartment on Sept 1st. (And will be paying $300/mo more in rent than I was paying before with the boyfriend. Ouch.) I feel like I'm just bleeding money right now. I found a nice used couch on Craigslist. Now I need to find a coffee table. I just bought a vacuum, a toaster, garbage bins, a bathroom scale, etc. I'll need to make a major Target run to stock up on TP, paper towels, toothpaste, etc. Stupid little stuff that just adds up. I also flew out to Washington and went backpacking with a friend for a week. But I needed to do that. I don't regret spending that money.
So I'm here again. The ol' e-fund actually went up a little through all this, due to August being a 3 paycheck month and I didn't have to pay rent anywhere either.
Anyway, that's my update. Emergency fund: $5398
Oh boy. At least he waited until your dog was gone to heaven? ? ? You're buying so much stuff. Did he keep everything?
Unless something drastic happens (car accident, job loss, break up) I don't see what else can go wrong financially. (Knock on wood?) So relentless forward motion.
Okay honey, you're speaking my language. This is a path I know well. I dated my ass off and didn't find my prince until I was 54. I think, based on the quote above, that some part of you might have seen this coming, even if you didn't fully realize it. Here it is in a nutshell: He's gone for now, maybe forever. Assume the latter and get every part of him in your rearview mirror asap. He wasn't your prince after all. I promise you, your happy ending is out there. I didn't find mine until I was ancient. It was worth every bump, bruise and utterly devastating heartbreak I experienced to get to where I am now. Your good man will come, I promise. Hang in there and welcome back.
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Oh boy. At least he waited until your dog was gone to heaven? ? ? You're buying so much stuff. Did he keep everything?
Okay honey, you're speaking my language. This is a path I know well. I dated my ass off and didn't find my prince until I was 54. I think, based on the quote above, that some part of you might have seen this coming, even if you didn't fully realize it. Here it is in a nutshell: He's gone for now, maybe forever. Assume the latter and get every part of him in your rearview mirror asap. He wasn't your prince after all. I promise you, your happy ending is out there. I didn't find mine until I was ancient. It was worth every bump, bruise and utterly devastating heartbreak I experienced to get to where I am now. Your good man will come, I promise. Hang in there and welcome back.
Well, I have a bed and a dresser and a TV stand. He's giving me the TV and buying a new one. (As well he should, considering I gave my old TV that had been sitting in our space bedroom for years to one of his kids a few months ago.) I need to buy a couch (done) and a coffee table (still looking.) He told me to take whatever, but the vacuum was his and the toaster was his and blah blah blah. All in all, I'm probably spending less than $1000 on "house" stuff. I was so sure about our relationship that I just went all in. I'd never done that before. We didn't need two of everything and a lot of my stuff was old/used, so I ditched a lot of stuff when we moved in together. Maybe that was a mistake, maybe it wasn't. But it sure seemed silly at the time to keep a bunch of old, unused stuff when you're both convinced you want to be together forever.
And thank you, Dicey. I think I've read your story somewhere else on the forum. I'm only in my mid-late 30s (we had an age difference), so I guess I'm still kind of young. I'm doing my best to move forward. I won't even think about dating for a long time.
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Have you tried freecycle, Buy Nothing Project or similar groups via Facebook etc? Don't be asshamed to ask for house stuff there, there's so much stuff gathering dust that people love to make someone else happy with.
If you're not too picky you can get all of it for free.
Otherwise, thriftstores. For a small fee they bring it to your door if transport is a problem.
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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
March (30-3-18): 6032
May (29-5-2018): 7682
June (30-6-2018): 8000
July (6-8-2018): 8997
August (29-8-2018): 9810
September (25-09-2018): 12086
Mission accomplished! Thanks to all you kind people for the continuous support, and good luck to everyone! I'll keep going now that I'm on a roll :)
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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
March (30-3-18): 6032
May (29-5-2018): 7682
June (30-6-2018): 8000
July (6-8-2018): 8997
August (29-8-2018): 9810
So close! New job's salary is in, and since I apparently get my extra overtime paid out (I expected it to be sort of averaged out over the whole year, if that makes sense), it was a lot more than expected.
Other than that, no significant things happened this month. Car needed a part replaced, but since that's a joint expense it doesn't impact my numbers here. Fingers crossed for no financial hiccups and I'll be in the 10k zone by the end of the year :o
Nice work! You're SO close.
We're going to be losing a lot of good posters over the coming months! :')
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We're going to be losing a lot of good posters over the coming months! :')
And the $10k - $100k thread will be gaining all of you great folks!
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We're going to be losing a lot of good posters over the coming months! :')
I graduated from this thread awhile ago, yet I still enjoy looking at it...
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August 2018 Update
3/31/2017 (52,848.85)
4/30/2017 (48,076.67)
5/31/2017 (47,110.22)
6/30/2017 (46,540.28)
7/31/2017 (44,354.10)
8/31/2017 (47,236.39)
9/30/2017 (42,436.10)
10/31/2017 (33,346.78)
11/30/2017 $(28,911.53)
12/31/2017 $(24,424.13)
1/31/2018 $(20,454.43)
2/28/2018 $(18,221.63)
3/31/2018 $(14,916.69)
4/30/2018 $(9,800.88)
5/31/2018 $(7,375.85)
6/30/2018 $(5,735.59)
7/31/2018 $(7,109.58)
8/31/2018 $(6,439.93) +$669.65 Increase
Managed to pull this month around and come out ahead. I've had to readjust my timeline going forward but I think I can hit zero by November and then $10K by March 2019. Uber frugal August helped me get back on track with my spending and I'm joining the spendless September gauntlet as well to keep the momentum going.
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Savings:
July 31: €2400
August 30: €2000
September 27: €1300
October 30: €1400
November 30: €1600
December 29: €1100
February 1: €1100
February 28: €1300
March 29: €1300
April 30: €800
May 29: €2300
June 28: €3500
July 31: €3250
August 31: €3700
Investments:
July 31: €1985.37
August 30: €2095.00
September 27: €2253
October 30: €2461
November 30: €2622.06
December 29: €2661.50 (didn't do the monthly transfer yet)
February 1: €3021,56
February 29: €3101,58
March 29: €3160,54
April 30: €3439.66
May 29: €3729.27
June 29: €3890.53
July 31: €4106.20
August 31: €4278.05
Total:
July 31: €4385.37
August 30: €4095.00
September 27: €3553
October 30: €3861
November 30: €4222.06
December 29: €3761,50 (+ 740 unpaid salary = 4501.50 )
February 1: €4121,60
February 29: €4401,58
March 29: €4460,54
April 30: €4239.66
May 29: €6029.27
June: €7390.53
July 31: €7356.20 ( + €70 on my credit card, so really €7426.20)
August 31: €7978.05
Goals for 31 December 2018:
Savings: €3000 €5000
Investments: €4500
Total: €7500 €9500
I reached my old total net worth goal this month! Good thing I changed my goals a few months ago. I found a new job that I will start October 1st! I will both increase my wage per hour and the amount of hours I work every week, my new company has a pension scheme and they will pay me to get a certain certificate. The company will not contribute to my pension, I will contribute 2,5% of my income out of my own pocket, but I'm still happy. Where I live there are limited options for tax-deferred retirement accounts, you can only contribute a small percentage of your income over 16000. That means you can't save much on a low income. Through this company pension scheme I can contribute 2,5% over my entire income. I don't want to rely on a company pension so I'll always save privately as well, but pension funds are heavily regulated and fairly reliable, so I'm not worried the money will be gone when I'm old.
If nothing strange happens, I should be able to end this year with 5k in investments and 6k in savings - I should be able to graduate in november or december!
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We're going to be losing a lot of good posters over the coming months! :')
I graduated from this thread awhile ago, yet I still enjoy looking at it...
Heck, I'm nearly six years post-FIRE and this is one of my favorite threads. It is so hard to get started, but once you do, the sky's the limit. Congratulations to everyone who is participating and/or has flown the coop!
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Nice job on progress, Haypug! I'll be seeing you in Spendless September.
Imma, wonderful news on reaching a previous milestone and congratulations on the new job!!!
And for all of you graduates who still pop by to say hello: Thank you for continuing to motivate us beginners! It was always encouraging to see/read :)
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It looks like we now get to join the ranks of fellow graduates!
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)
4/30/18: (11,771)
5/31/18: (6,744)
6/16/18: (3,153)
6/30/18: (1,596)
7/13/18: 394
7/31/18: 4,624
8/15/18: 7,093
8/31/18: $12,784
Assets [401ks, IRAs, HSA, Cash]: $66,874
Student Loan/CCs: (54,090)
It feels a little surreal but we're so excited to have seen the hard work pay off. Posting here consistently and seeing everyone's progress over the last 8 months was so motivating. Congratulations to everyone on progress - keep up the great work and I'll see you in the next thread!
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We're going to be losing a lot of good posters over the coming months! :')
I graduated from this thread awhile ago, yet I still enjoy looking at it...
Heck, I'm nearly six years post-FIRE and this is one of my favorite threads. It is so hard to get started, but once you do, the sky's the limit. Congratulations to everyone who is participating and/or has flown the coop!
I've not even graduated from this thread and I already really feel that "sky's the limit" feeling. Both my s/o and I are going to quit our long term, steady, boring jobs this month and start a new job, at the same time. We would never have dared to take that risk a few years ago. My bare-bones spending would be around €700 (that includes my part of the joint bills) so we both have about 1 year's worth of expenses saved up. We feel so free now.
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It looks like we now get to join the ranks of fellow graduates!
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)
4/30/18: (11,771)
5/31/18: (6,744)
6/16/18: (3,153)
6/30/18: (1,596)
7/13/18: 394
7/31/18: 4,624
8/15/18: 7,093
8/31/18: $12,784
Assets [401ks, IRAs, HSA, Cash]: $66,874
Student Loan/CCs: (54,090)
It feels a little surreal but we're so excited to have seen the hard work pay off. Posting here consistently and seeing everyone's progress over the last 8 months was so motivating. Congratulations to everyone on progress - keep up the great work and I'll see you in the next thread!
Congrats @zeli2033 !!! That is fantastic. Onward and upward!
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It looks like we now get to join the ranks of fellow graduates!
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)
4/30/18: (11,771)
5/31/18: (6,744)
6/16/18: (3,153)
6/30/18: (1,596)
7/13/18: 394
7/31/18: 4,624
8/15/18: 7,093
8/31/18: $12,784
Assets [401ks, IRAs, HSA, Cash]: $66,874
Student Loan/CCs: (54,090)
It feels a little surreal but we're so excited to have seen the hard work pay off. Posting here consistently and seeing everyone's progress over the last 8 months was so motivating. Congratulations to everyone on progress - keep up the great work and I'll see you in the next thread!
Congrats @zeli2033 !!! That is fantastic. Onward and upward!
Yes, congrats @zeli2033 !
And well done @haypug16 for getting yourself back on track.
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1/1/2018: $(170,956.12)
2/1/2018: $(166,849.63)
3/1/2018: $(161,395.88)
4/1/2018: $(156,590.44)
5/1/2018: $(152,997.61)
6/1/2018: $(149,175.48)
7/1/2018: $(143,748.22)
8/1/2018: $(138,734.38)
9/1/2018: $(135,043.66)
Still chugging along! This is actually not fully reflective of my progress this month because my 401k contribution hasn't hit my account yet. My goal for next month is to get into the -120Ks.
Congrats @zeli2033 on graduating!!
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Thanks for the warm sendoffs, everyone!!
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1/1/2018: $(170,956.12)
2/1/2018: $(166,849.63)
3/1/2018: $(161,395.88)
4/1/2018: $(156,590.44)
5/1/2018: $(152,997.61)
6/1/2018: $(149,175.48)
7/1/2018: $(143,748.22)
8/1/2018: $(138,734.38)
9/1/2018: $(135,043.66)
Still chugging along! This is actually not fully reflective of my progress this month because my 401k contribution hasn't hit my account yet. My goal for next month is to get into the -120Ks.
Great progress @mckaylabaloney! You've got this. There are lots of us who started in the hole, and we are cheering for you!
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1/1/2018: $(170,956.12)
2/1/2018: $(166,849.63)
3/1/2018: $(161,395.88)
4/1/2018: $(156,590.44)
5/1/2018: $(152,997.61)
6/1/2018: $(149,175.48)
7/1/2018: $(143,748.22)
8/1/2018: $(138,734.38)
9/1/2018: $(135,043.66)
Still chugging along! This is actually not fully reflective of my progress this month because my 401k contribution hasn't hit my account yet. My goal for next month is to get into the -120Ks.
Congrats @zeli2033 on graduating!!
Damn, your killing it!
-120Ks next month? That's 40k in 10 months, at that rate you'd be out of the hole and graduated within the next 2 to 3 years! Keep it up!
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BoI savings a/c: 80.00
DiBa ETF: 772.38
CmzBank savings a/c: 850.00
Total: 1,702.38
BoI savings a/c: 125.00
DiBa ETF: 910.07
CmzBank savings a/c: 950.00
Total: 1,985.07
Well, it's hard to stay positive sometimes but I'm still plugging away. My annual expenses accounts have been almost wiped out but payday was Friday and I'm starting to rebuild yet again, €330 so far. I know it happens every year in August (that's the month I moved here, so a lot of my annual bills fall due then) and along with my trip at the beginning of the month it's really not too bad that by the start of September I'm more or less recovered and moving on. It just feels so much like standing still. I transferred 100 straight to my EF account, although that leaves me a little bit short for this month (I transferred it before adding something to my budget spreadsheet that I'd forgotten would be due). However, I'm swamped with sideline work at the moment so if I can just get the head down and get through one more week of doing way too much, I should have a few hundred to add to savings and will get the EF up to 1,000 finally. Weird feeling really, since I've been talking about doing that but never quite managing it for such a long time.
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BoI savings a/c: 80.00
DiBa ETF: 772.38
CmzBank savings a/c: 850.00
Total: 1,702.38
BoI savings a/c: 125.00
DiBa ETF: 910.07
CmzBank savings a/c: 950.00
Total: 1,985.07
Well, it's hard to stay positive sometimes but I'm still plugging away. My annual expenses accounts have been almost wiped out but payday was Friday and I'm starting to rebuild yet again, €330 so far. I know it happens every year in August (that's the month I moved here, so a lot of my annual bills fall due then) and along with my trip at the beginning of the month it's really not too bad that by the start of September I'm more or less recovered and moving on. It just feels so much like standing still. I transferred 100 straight to my EF account, although that leaves me a little bit short for this month (I transferred it before adding something to my budget spreadsheet that I'd forgotten would be due). However, I'm swamped with sideline work at the moment so if I can just get the head down and get through one more week of doing way too much, I should have a few hundred to add to savings and will get the EF up to 1,000 finally. Weird feeling really, since I've been talking about doing that but never quite managing it for such a long time.
Going from 1700 to approx. 2000 in two months might feel like a small increase, compared to people who might have added thousands to their net worth instead of hundreds, but don't forget you are up 15!!!! % from early July. That's no small achievement. I know what it's like to only make baby steps every month, but believe me, it gets easier. Every 1000 after the first 1000 is slightly easier to achieve.
For a long time I felt like I was going nowhere, but I've been on a roll for the last couple of months and then you really start to feel all the effort was worth it. I know everyone says that, but everyone says it because it's true. It's also great to see you're working on a side hustle. All the big increases in my net worth are due to short periods of working an insane amount of overtime. One more week of working very hard and then you'll get the reward in the form of the €1000 EF! Hope to see your here next month with 4 digits in your savings account :)
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@zeli2033
Congratulations! Over $60k in less than a year? That's utterly ridiculous. Hopefully I'll see you in the next thread soon - unless you've moved onto the 250k race by that point.
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@Imma Nice work. Let us all know how your new job goes. I hope the transition between old/new is smooth and I'm sure you'll feel the benefit soon.
@Moonwaves Your N/W has risen 15%!! That's brilliant considering your most expensive part of the year is behind you now. N/W looks set to fly past 2k next month and you're still unhappy... That says to me that you're committed and I'm sure you'll make even more progress soon. Just remember that standing still isn't necessarily bad - it's a lot better than falling down! around a year ago your N/W was 407. That's a 488% increase in less than 1 year.
@mckaylabaloney You're smashing it. Are you noticing the difference in interest? I'd presume being the best part of 40k better off is having a serious impact? Does that still count as snowballing? Reverse snowballing? :P
@haypug16 I'm starting to think these uber-frugal months are just going to continue forever. We'll have to call you uber-frugalHaypug16 at this rate. :') You're going to be out of here in no time.
@Trifele @Dicey @DieHard_772 It's nice to know we're loved. Kudos to you all. Taking an interest in peoples posts/threads can really motivate them. I know it works with me.
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We're going to be losing a lot of good posters over the coming months! :')
I graduated from this thread awhile ago, yet I still enjoy looking at it...
Heck, I'm nearly six years post-FIRE and this is one of my favorite threads. It is so hard to get started, but once you do, the sky's the limit. Congratulations to everyone who is participating and/or has flown the coop!
I'm with Dicey. I FIRE'd last year and I find this thread inspirational. Seeing the progress made month by month, by people who are committed to your futures, reminds me that with that discipline, it's possible for many people to be powerful who might have not been. You are all such strong people and this is a wonderful community.
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Welcome SeaKayEl!
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2018
1/31 : (5949.05)
2/28 : (5288.30)
3/31 : (4273.93)
4/30 : (2592.07)
5/31 : (629.70)
6/30 : 1,206.77
7/31 : 2,703.97
8/31: 5,651.70
Forgot to get this updated before the holiday weekend.
It was another great month here. Debt went down by another $730. Investments went up by $2,125, and my EF went up by $84. I am hoping to hit that $10,000 mark in November is all works out as it should.
Want to give a shout out again to @haypug16 for running the uber frugal august. this help out allot.
Congrats @zeli2033 hope to be with you in the next step here before to long!
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@haypug16 I'm starting to think these uber-frugal months are just going to continue forever. We'll have to call you uber-frugalHaypug16 at this rate. :') You're going to be out of here in no time.
That's a name I would be very proud to be called :)
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@Trifele @SansSkill @Manchester Thank you all! My student loan mountain feels so big that it is easy to forget I really am making progress. This thread is so helpful and encouraging!
Manchester -- not sure if you mean a decrease in the interest on my loans or an increase in the interest on my investments, but yes as to the latter, at least, especially in the last few months. For most of this year, since the market plummeted in early February, my accounts were mostly holding steady from month to month (other than my contributions). But in the last couple of months they have actually started growing again and it is definitely exciting to watch the numbers rise! About $2500 of my NW gain this year so far is from gains on my retirement accounts -- and while I feel really good about the amounts in those accounts, all things considered, that kind of growth definitely makes me excited for when they are 10 times as big and pulling in much, much more :)
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7/13/2017: $2,238.41
8/1/2017: $2,771.40
8/16/2017: $3,071.40
9/1/2017: $3,202.61
9/15/2017: $3,502.63
10/2/2017: $3,807.67
10/16/2017: $4,021.00
11/1/2017: $4,121.00
11/16/2017: $4,208.73
12/1/2017: $4,267.73
12/15/2017: $4,532.82
12/30/2017: $4,864.78
1/16/2018: $8,114.78
2/2/2018: $8,424.59
2/19/2018: $8,431.24
3/30/2018: $8,614.89
4/16/2018: $8,742.36
5/1/2018: $8,905.80
5/16/2018: $9,005.80
6/14/2018: $9,020.38
7/1/2018: $9,112.55
7/16/2018: $9,421.18
8/1/2018: $9,545.20
8/15/2018: $9,545.20
9/7/2018: $9,587.61
Late update--work has been super-busy and I've barely had time to eat lunch this week, let alone post online about my financial goals.
WEDDINGS, UGH. When I was blithely like "I'll get to $10k and then think about the wedding stuff!" I wasn't realizing how many things would need deposits. But it's another paycheck in the right direction, and I don't think I have anything out of the ordinary coming up for my mid-September pay cycle.
Hooray for all the grads! And everyone who keeps showing up and making progress every month!
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Mid-September 2018 Update
3/31/2017 (52,848.85)
4/30/2017 (48,076.67)
5/31/2017 (47,110.22)
6/30/2017 (46,540.28)
7/31/2017 (44,354.10)
8/31/2017 (47,236.39)
9/30/2017 (42,436.10)
10/31/2017 (33,346.78)
11/30/2017 $(28,911.53)
12/31/2017 $(24,424.13)
1/31/2018 $(20,454.43)
2/28/2018 $(18,221.63)
3/31/2018 $(14,916.69)
4/30/2018 $(9,800.88)
5/31/2018 $(7,375.85)
6/30/2018 $(5,735.59)
7/31/2018 $(7,109.58)
8/31/2018 $(6,439.93)
9/15/2018 $(5,227.70) +$1,212.23 increase
I seem to be back to having a "normal" month. :) I hope to end the month around -$4k then hitting zero before the end of this year and graduating from here before the end of the winter.
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Mid-September 2018 Update
3/31/2017 (52,848.85)
4/30/2017 (48,076.67)
5/31/2017 (47,110.22)
6/30/2017 (46,540.28)
7/31/2017 (44,354.10)
8/31/2017 (47,236.39)
9/30/2017 (42,436.10)
10/31/2017 (33,346.78)
11/30/2017 $(28,911.53)
12/31/2017 $(24,424.13)
1/31/2018 $(20,454.43)
2/28/2018 $(18,221.63)
3/31/2018 $(14,916.69)
4/30/2018 $(9,800.88)
5/31/2018 $(7,375.85)
6/30/2018 $(5,735.59)
7/31/2018 $(7,109.58)
8/31/2018 $(6,439.93)
9/15/2018 $(5,227.70) +$1,212.23 increase
I seem to be back to having a "normal" month. :) I hope to end the month around -$4k then hitting zero before the end of this year and graduating from here before the end of the winter.
That is incredible progress @haypug16. Nice job :)
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Thanks DieHard. It's so funny how I used to think I didn't make enough money even though my salary nearly doubled in about 6 years. Now I feel like I make so much. If I didn't have my Student Loans I would be saving like 50-60% easily.
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Thanks DieHard. It's so funny how I used to think I didn't make enough money even though my salary nearly doubled in about 6 years. Now I feel like I make so much. If I didn't have my Student Loans I would be saving like 50-60% easily.
Well done!! You're so close to positive net worth now! It's really inspiring to see your massive progress.
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Thanks DieHard. It's so funny how I used to think I didn't make enough money even though my salary nearly doubled in about 6 years. Now I feel like I make so much. If I didn't have my Student Loans I would be saving like 50-60% easily.
Haypug -- I hope you will post something big and splashy in the 'Celebrations' thread when you cross into positive territory this winter! I love hearing your updates. You are doing a fantastic job!
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Thanks everyone. I love this thread so much. Everyone is so supportive, it's great!
Great idea Trifele. I will have to remember to post in the Celebration thread when I cross over to the other side :)
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I would like to join. A few years ago we got real serious about getting our finances in order. Current debt is a car loan at .9% (1 year left) and mortgage (10 years left of "regular" payments). We have accounts for vacation (4,000 and still adding) and Emergency fund (15,000 and still adding) Both the wife and I have pensions that will pay 60% of FAS (retire in 14 years) and we both have a 403b's (fully funded by end of year and every year going forward through payroll deductions).
I have been wanting a corvette since I was a kid! Finally in a position where I could actually make that happen in a few years. These accounts will be with any extra "found" money, or money left over at the end of the month. As a result it will not grow quickly but it will grow. One example of "found money" is I completed three online classes this summer (cost $500) but it will give me a salary boost of 700 extra every year until retirement! So that averages out to an extra 20/paycheck or an additional $9800 by the time I retire!
Date Corvette Roth - 1 DRIP Stock Total
9/18/18 1760.03 1000 3423.11 6183.14
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Hi Everyone,
Really positive month for me! My Net Worth increased by £1,740.41! Comfortably my best month to date.
It was my birthday, so I asked for cash from everyone rather than presents, because there isn't really anything I want/need that badly? I've been called a stinge for it... :')
I also completed my remortgage and withdrew £20k worth of equity. We have this money boxed off for other things so I'm not including it in my N/W.
I paid my car insurance for the year and managed to save over £250 compared to what I paid last year (hence the credit card being up).
I've stopped withdrawing money from bookie accounts to let that grow. I don't need the cash, and the extra money in my accounts helps me take on more offers. I'm thinking that a £5k account will be enough to do everything, so I'll try and not withdraw a penny until I reach that target. I've made over £1k profit doing matched betting now. :)
I have a stag do and a European trip to watch my football team in-between now and Christmas. As well as a wedding! This time of the year gets very expensive so I'm going to try my best to be frugal!
(http://i65.tinypic.com/5jywl5.png)
(http://i64.tinypic.com/25k34ao.png)
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Great job Manchester! So close to graduating.
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That's some impressive progress over the last couple of months, Manchester!
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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
March (30-3-18): 6032
May (29-5-2018): 7682
June (30-6-2018): 8000
July (6-8-2018): 8997
August (29-8-2018): 9810
September (25-09-2018): 12086
Mission accomplished! Thanks to all you kind people for the continuous support, and good luck to everyone! I'll keep going now that I'm on a roll :)
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Congrats @Spruit !!!!!
Good luck with your next race :)
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Nice work, @Spruit!!!!
See ya in the 10-100k thread - keep it up!!
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Congrats @Spruit !!!! See you in the next thread :)
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Congratulations Spruit!
As for me, well, EF is now officially 1k.
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@Spruit
Well done! You've smashed through the 10k! :')
Hopefully I'll see you in the next thread soon!
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Congratulations Spruit!
As for me, well, EF is now officially 1k.
Nice! Keep going. :)
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I would like to join. A few years ago we got real serious about getting our finances in order. Current debt is a car loan at .9% (1 year left) and mortgage (10 years left of "regular" payments). We have accounts for vacation (4,000 and still adding) and Emergency fund (15,000 and still adding) Both the wife and I have pensions that will pay 60% of FAS (retire in 14 years) and we both have a 403b's (fully funded by end of year and every year going forward through payroll deductions).
I have been wanting a corvette since I was a kid! Finally in a position where I could actually make that happen in a few years. These accounts will be with any extra "found" money, or money left over at the end of the month. As a result it will not grow quickly but it will grow. One example of "found money" is I completed three online classes this summer (cost $500) but it will give me a salary boost of 700 extra every year until retirement! So that averages out to an extra 20/paycheck or an additional $9800 by the time I retire!
Date Corvette Roth - 1 DRIP Stock Total
9/18/18 1760.03 1000 3423.11 6183.14
Good to have another poster on this thread! Howcome you want a corvette so bad? Is the money you'd pay for it worth it?
Are you saving it in a low interest fund? If yes, why? Howcome you don't invest it with vanguard so it grows more quickly etc?
You seem to have your finances in order and you're clearly on the path to FI. :)
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I would like to join. A few years ago we got real serious about getting our finances in order. Current debt is a car loan at .9% (1 year left) and mortgage (10 years left of "regular" payments). We have accounts for vacation (4,000 and still adding) and Emergency fund (15,000 and still adding) Both the wife and I have pensions that will pay 60% of FAS (retire in 14 years) and we both have a 403b's (fully funded by end of year and every year going forward through payroll deductions).
I have been wanting a corvette since I was a kid! Finally in a position where I could actually make that happen in a few years. These accounts will be with any extra "found" money, or money left over at the end of the month. As a result it will not grow quickly but it will grow. One example of "found money" is I completed three online classes this summer (cost $500) but it will give me a salary boost of 700 extra every year until retirement! So that averages out to an extra 20/paycheck or an additional $9800 by the time I retire!
Date Corvette Roth - 1 DRIP Stock Total
9/18/18 1760.03 1000 3423.11 6183.14
Good to have another poster on this thread! Howcome you want a corvette so bad? Is the money you'd pay for it worth it?
Are you saving it in a low interest fund? If yes, why? Howcome you don't invest it with vanguard so it grows more quickly etc?
You seem to have your finances in order and you're clearly on the path to FI. :)
I have just always liked the look and feel of a corvette and it is something that just has not left me. I can actually visualize using it a lot (obviously not in the winter months here in the northeast but with summers off I can see going for drives and weekends away with it. I really believe for me it will be worth it :) Right now it is just an online interest bearing account, but looking at options for growth as I save for it! Not looking at new or anything but a good used corvette would make me happy. Newer models lose value rather quickly but then hold value at about the 10 year mark (which is where I would be looking).
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Congratulations @Spruit
Hopefully I will be in the next thread with you here in a couple of months!
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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
March (30-3-18): 6032
May (29-5-2018): 7682
June (30-6-2018): 8000
July (6-8-2018): 8997
August (29-8-2018): 9810
September (25-09-2018): 12086
Mission accomplished! Thanks to all you kind people for the continuous support, and good luck to everyone! I'll keep going now that I'm on a roll :)
Way to blow past the goal, Spruit!
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August emergency fund: $5398
Well, in the good news department, my investments hit over $10K a couple of weeks ago. I was pretty excited about that. I started at $0 back in April 2017.
Since I'm just here for my e-fund now, the good/bad news is that it earned a little interest, but nothing was added (or removed.) That was expected though. Moving into my new apartment came with internet set up, needing to buy random things, and stock up on things you're just used to having around like toilet paper, spices, etc, etc. Starting over is expensive. All of a sudden you don't have finger nail clippers, a TV antenna, or a fan. I got my hair cut for the first time in nine months. I took a semi-local 4 day backpacking trip by myself. (And didn't die or get eaten by a bear.) I think I'm mostly done with the spending phase now. I need a few things, but nothing that's absolutely necessary, so I can wait to try and find a cheap/good deal on Craigslist. My books can sit in a box in the hallway for a while longer yet.
In the bad news department, I had to have an emergency root canal earlier this month. Apparently old fillings can become disconnected (?!) from your tooth and stuff can get in there and get infected? I guess when it rains, it pours. That bill will hit me in October, so that will be another thing to eat at my potential e-fund savings next month. Not sure how much it'll be yet.
Anyway, September emergency fund: $5410 (+$12)
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Way to go, Spruit! I'll see you in the race to $100K thread. :)
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Thanks all! Now to figure out which thread to join next. 10k to 100k? My God, 100k seems so out of reach.
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Thanks all! Now to figure out which thread to join next. 10k to 100k? My God, 100k seems so out of reach.
You can do it @Spruit ! (That has a nice ring to it haha). It took me about 12 years to get to 100k, and I bet you will beat that by a mile!
It's a great time to join the 10k-100k thread; lots of nice folks just starting on the journey.
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My God, 100k seems so out of reach.
I really, really hear you. I'm going to be in that thread for forever. Come settle in with me. LOL.
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September 2018 Update
3/31/2017 (52,848.85)
4/30/2017 (48,076.67)
5/31/2017 (47,110.22)
6/30/2017 (46,540.28)
7/31/2017 (44,354.10)
8/31/2017 (47,236.39)
9/30/2017 (42,436.10)
10/31/2017 (33,346.78)
11/30/2017 $(28,911.53)
12/31/2017 $(24,424.13)
1/31/2018 $(20,454.43)
2/28/2018 $(18,221.63)
3/31/2018 $(14,916.69)
4/30/2018 $(9,800.88)
5/31/2018 $(7,375.85)
6/30/2018 $(5,735.59)
7/31/2018 $(7,109.58)
8/31/2018 $(6,439.93)
9/30/2018 $(2,990.84) +3,449.09 Increase
:D very happy with this month. Looks like I have a shot at hitting zero by end of October. I'm hoping to then hit $10K my mid April.
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Savings:
July 31: €2400
August 30: €2000
September 27: €1300
October 30: €1400
November 30: €1600
December 29: €1100
February 1: €1100
February 28: €1300
March 29: €1300
April 30: €800
May 29: €2300
June 28: €3500
July 31: €3250
August 31: €3700
September 30: €2550
Investments:
July 31: €1985.37
August 30: €2095.00
September 27: €2253
October 30: €2461
November 30: €2622.06
December 29: €2661.50 (didn't do the monthly transfer yet)
February 1: €3021,56
February 29: €3101,58
March 29: €3160,54
April 30: €3439.66
May 29: €3729.27
June 29: €3890.53
July 31: €4106.20
August 31: €4278.05
September 29: €4285.11 (didn't do the monthly transfer yet)
Total:
July 31: €4385.37
August 30: €4095.00
September 27: €3553
October 30: €3861
November 30: €4222.06
December 29: €3761,50 (+ 740 unpaid salary = 4501.50 )
February 1: €4121,60
February 29: €4401,58
March 29: €4460,54
April 30: €4239.66
May 29: €6029.27
June: €7390.53
July 31: €7356.20 ( + €70 on my credit card, so really €7426.20)
August 31: €7978.05
September 29: €6835.11
Goals for 31 December 2018:
Savings: €3000 €5000
Investments: €4500
Total: €7500 €9500
I haven't been doing too well this month :( I quit my old job and they still owe me about €2500 gross, but so far they haven't paid me. I didn't have major issues at work, but it seems my old boss feel like I'm betraying him by leaving. I have a law degree and succesfully sued people for him when I worked there, so I hope he's just paying me late to hurt me, but will pay up eventually. Thankfully I have savings. I paid my bills from savings this month, which is one reason why they're a bit lower than normal. The other reason is that I spent some money on a short trip to Germany (about €350 all in all) travelled to see friends a few time, bought some new items of clothing for my new job and spent some money on DIY items (my boyfriend is off work for a whole month, so he has time to do things). My new job starts this Monday and I get paid weekly, so I will be able to save money again next week.
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In the US there are strict rules and severe penalties for dodging complete, prompt payout when an employee leaves for any reason. Is that not true for you, Imma?
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In the US there are strict rules and severe penalties for dodging complete, prompt payout when an employee leaves for any reason. Is that not true for you, Imma?
If he hasn't paid me by Wednesday late payment fees will start to apply. We're talking about a small business owner who isn't always acting completely rational, so I hope he's clever enough to pay in time, but I'm not completely sure he is. If he doesn't pay soon, I'm prepared to go to court within the next few weeks. I'm able to prepare the legal paperwork myself so it wouldn't cost me anything.
I knew this was likely to happen (it seems I've hurt his fragile ego by leaving) but I'm still a bit surprised he's actually not paying, because it's such a black and white situation. There's no possible justification for his behaviour.
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@Imma, what a jackass... good riddance!
Also, weekly pay that's highly unusual. Nice to see your money pile up 4x a month though :)
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Date Corvette Roth - 1 DRIP Stock Total
9/18/18 1760.03 1000 3423.11 6183.14
9/30/18 2000.03 1000 3473.11 6473.14
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I am entering this thread now:
Index funds and stocks: 17 286 SEK (USD: 1951.61)
Emergency fund: 31 009 SEK (USD: 3500.61)
My aim will be 100 000 SEK instead of 10 000 USD as that will be a round number for me and I don't have to take changing currancies into consideration. As my husband is unemployed right now I expect the progress to be slow for a while but once he gets a job I will get going. Almost everything I have is money I saved this year so I hope that if we go back to two incomes relatively soon I will be able to get to 100 000 next year without much effort.
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Welcome Elliha!
You're already almost halfway your goal. If you have saved this up over the last year, while your husband is unemployed, you're going to make great progress once he finds a job again!
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Welcome Elliha!
You're already almost halfway your goal. If you have saved this up over the last year, while your husband is unemployed, you're going to make great progress once he finds a job again!
Most was while he was working but I only started being really active in saving in May or so. So knowing this I am OK with a small increase until he will get a new job. It should be doable and his old employer may want him back in a month or two if there is snow so it may be the easy solution we are hoping for.
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Hey @Imma
Good luck with your new job, you'll have to let us know what you thought of your first day today? Your former employer seems like an idiot. I always laugh at situations like that. He wants to keep you as an employee, but isn't prepared to pay you what you deserve. He can't have his cake and eat it too!
Hi @elliha and welcome to the board. You've got a good foundation that you're starting from. I hope your partner finds work soon as that will really help you (although you aren't doing badly currently). All my figures are inn £'s rather than $'s. I don't see the sense in converting etc and I know a few other posters do something similar with their respective currencies.
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2018
1/31 : (5949.05)
2/28 : (5288.30)
3/31 : (4273.93)
4/30 : (2592.07)
5/31 : (629.70)
6/30 : 1,206.77
7/31 : 2,703.97
8/31: 5,651.70
9/31: 8,039.01
I just keep plugging away. Investments went up right around 1,230. Debt dropped this month around 1,075. Sold off some of my stuff that has been accumulating around the house this last month and all of that went toward my debt.
I am hoping that I will break that 10,000 barrier next month if all goes as plans.
Welcome @elliha these folks here have really kept me on a straight path
@Imma I hope all goes well for you with your new job and get everything straightened out with the old. Seem like you are going to have a very exciting next couple of weeks!
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1/1/2018: $(170,956.12)
2/1/2018: $(166,849.63)
3/1/2018: $(161,395.88)
4/1/2018: $(156,590.44)
5/1/2018: $(152,997.61)
6/1/2018: $(149,175.48)
7/1/2018: $(143,748.22)
8/1/2018: $(138,734.38)
9/1/2018: $(135,043.66)
10/1/2018: $(131,441.14)
Well, between the markets not really rising at all over the month, and me being particularly spendy (bought some fall clothes I didn't really need, and took two short vacations to expensive cities), I clearly missed my (ambitious) goal of getting into the -$120Ks this month. But hey, I will never complain about moving $3600 in the right direction. I know I am really fortunate to have an income that is high enough to keep me moving the right way even when I'm not being especially responsible with my spending.
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Thanks everyone for the kind messages :) the new job is a million times better and my old boss is no longer ignoring me, although he also hasn't paid yet. We'll see how that works out.
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Back again! Long story short, I finished college and moved again, and my EF took a big hit. I'm working freelance in the film industry, so my EF has to be pretty padded and ready to take some hits. I've also got student loans to pay off and probably a car to pay of depending on what happens at the end of my lease in May (yes, I have already facepunched).
I have a feeling my net worth is going to fluctuate a lot in the next 6 months, but trend upward. :)
10/2/18 - $(2742.60)
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And....here....we....go....
October 7, 2018 = $600
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And....here....we....go....
October 7, 2018 = $600
Go jojoguy! The first 10k is the hardest. You can do it!
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Go jojoguy! The first 10k is the hardest. You can do it!
Word. The first $10K is by far the hardest. Attack it. Declare war. Conquer that thing. Get to $10K as fast as you can. Live on dog food if you have to. At that point, you start to see the benefits of compounding. You'll get to $20K in about half the time it took you to get to $10K. And it will take about the same amount of time to go from $100K to $200K as it does from $10K to $20K. Compounding is the miracle drug. Once you build that nut you will be shocked how fast it grows.
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Welcome jojoguy and welcome back Cazio!
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Thanks for the encouragement ya`ll. I want to set a high goal. My place of work is usually letting me work overtime and I want to take advantage. My goal is $10,000 in four months. This ought to be fun.
Note: This will come from both me and my wife`s income.
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So, yesterday my savings in an ETF fund were €956, today they're worth €901. Yikes!
I will, of course, be comforting myself with the thought that perhaps this month, for the first time, the next influx of cash will get me more units than usual. But still, that's essentially all of the profit I had built up so far - sobering to see it just wiped out.
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Similar feelings here Moonwaves! I started investing in ETFs a year ago and just last week the total balance was +800sth. Now it's back down to +300 only. I just did my monthly contributions a few days ago so I was 'sad' I'd missed out on this little sale :p.
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I also go and read the Top Is In thread for comfort sometimes. It's like a huge party over there (https://forum.mrmoneymustache.com/investor-alley/top-is-in/msg2165957/#msg2165957) at the moment. LOL
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Date Corvette Roth - 1 DRIP Stock Total
9/18/18 1760.03 1000 3423.11 6183.14
9/30/18 2000.03 1000 3473.11 6473.14
10/13/18 2051.48 1200 3473.11 6724.59
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I'm glad that my investment account only gets updated once a week, so I'll only see the damage this Monday.
I'm getting very close to this year's 5k savings target, but I nerd to buy some expensive items over the next few weeks: new glasses, winter shoes and a winter coat. I've been looking for used for months, but didn't find what I was looking for, then also started looking for new and I still can't find what I want. I need to make a decision soon, wearing my old coat / shoes for one more year is not an option (both are over 10 years old and their replacement is long overdue). I hate having to spend money when I'm so close to my target.
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I'm glad that my investment account only gets updated once a week, so I'll only see the damage this Monday.
I'm getting very close to this year's 5k savings target, but I nerd to buy some expensive items over the next few weeks: new glasses, winter shoes and a winter coat. I've been looking for used for months, but didn't find what I was looking for, then also started looking for new and I still can't find what I want. I need to make a decision soon, wearing my old coat / shoes for one more year is not an option (both are over 10 years old and their replacement is long overdue). I hate having to spend money when I'm so close to my target.
I just bought some replacement glasses from Zenni Optical $16 and $6 was shipping.
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I'm glad that my investment account only gets updated once a week, so I'll only see the damage this Monday.
I'm getting very close to this year's 5k savings target, but I nerd to buy some expensive items over the next few weeks: new glasses, winter shoes and a winter coat. I've been looking for used for months, but didn't find what I was looking for, then also started looking for new and I still can't find what I want. I need to make a decision soon, wearing my old coat / shoes for one more year is not an option (both are over 10 years old and their replacement is long overdue). I hate having to spend money when I'm so close to my target.
I just bought some replacement glasses from Zenni Optical $16 and $6 was shipping.
Do you like them? Sorry far, I've always regretted going for the cheaper option when it comes to glasses.
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I'm glad that my investment account only gets updated once a week, so I'll only see the damage this Monday.
I'm getting very close to this year's 5k savings target, but I nerd to buy some expensive items over the next few weeks: new glasses, winter shoes and a winter coat. I've been looking for used for months, but didn't find what I was looking for, then also started looking for new and I still can't find what I want. I need to make a decision soon, wearing my old coat / shoes for one more year is not an option (both are over 10 years old and their replacement is long overdue). I hate having to spend money when I'm so close to my target.
I just bought some replacement glasses from Zenni Optical $16 and $6 was shipping.
Do you like them? Sorry far, I've always regretted going for the cheaper option when it comes to glasses.
I get mine from Zenni as well. I love mine.
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October 15th 2018 Update
3/31/2017 (52,848.85)
4/30/2017 (48,076.67)
5/31/2017 (47,110.22)
6/30/2017 (46,540.28)
7/31/2017 (44,354.10)
8/31/2017 (47,236.39)
9/30/2017 (42,436.10)
10/31/2017 (33,346.78)
11/30/2017 $(28,911.53)
12/31/2017 $(24,424.13)
1/31/2018 $(20,454.43)
2/28/2018 $(18,221.63)
3/31/2018 $(14,916.69)
4/30/2018 $(9,800.88)
5/31/2018 $(7,375.85)
6/30/2018 $(5,735.59)
7/31/2018 $(7,109.58)
8/31/2018 $(6,439.93)
9/30/2018 $(2,990.84)
10/15/2018 $(3,730.36) - $739.52 decrease
My only comfort is the fact that is all due to the market, I lost about $1,600 between Sept 30th and today :( I have been super frugal this month and continue to pay down my student loans, which are my only debts. Hoping things turn around so I can get close to zero this month.
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October 15th 2018 Update
3/31/2017 (52,848.85)
4/30/2017 (48,076.67)
5/31/2017 (47,110.22)
6/30/2017 (46,540.28)
7/31/2017 (44,354.10)
8/31/2017 (47,236.39)
9/30/2017 (42,436.10)
10/31/2017 (33,346.78)
11/30/2017 $(28,911.53)
12/31/2017 $(24,424.13)
1/31/2018 $(20,454.43)
2/28/2018 $(18,221.63)
3/31/2018 $(14,916.69)
4/30/2018 $(9,800.88)
5/31/2018 $(7,375.85)
6/30/2018 $(5,735.59)
7/31/2018 $(7,109.58)
8/31/2018 $(6,439.93)
9/30/2018 $(2,990.84)
10/15/2018 $(2,332.37) +658.47 increase
We can all ignore that last update. I forgot to update one of the balances. I was so happy when I saw that while reviewing my Google Sheet. :) Reaching zero by the end of the month is looking better.
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BoI savings a/c: 125.00
DiBa ETF: 910.07
CmzBank savings a/c: 950.00
Total: 1,985.07
BoI savings a/c: 150.00
DiBa ETF: 962.86
CmzBank savings a/c: 1,000.00
Total: 2,112.86
Have done huge amounts of side-gig work in the last month so will be taking some time this week to write up a few very nice invoices. I will have to wait a bit for the largest of these to be paid but when they do come in, it will be a lovely boost for savings.
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7/13/2017: $2,238.41
8/1/2017: $2,771.40
8/16/2017: $3,071.40
9/1/2017: $3,202.61
9/15/2017: $3,502.63
10/2/2017: $3,807.67
10/16/2017: $4,021.00
11/1/2017: $4,121.00
11/16/2017: $4,208.73
12/1/2017: $4,267.73
12/15/2017: $4,532.82
12/30/2017: $4,864.78
1/16/2018: $8,114.78
2/2/2018: $8,424.59
2/19/2018: $8,431.24
3/30/2018: $8,614.89
4/16/2018: $8,742.36
5/1/2018: $8,905.80
5/16/2018: $9,005.80
6/14/2018: $9,020.38
7/1/2018: $9,112.55
7/16/2018: $9,421.18
8/1/2018: $9,545.20
8/15/2018: $9,545.20
9/7/2018: $9,587.61
10/16/2018: $10,030.04!!
Work + life have continued to be super-busy, so I haven't been around, but I wanted to check in since I MADE IT! It took me longer than I thought it would, even with a hand along the way, but I kept slogging it out and as of today I am officially over the $10k mark. Thank you all so much for the support and accountability along the way.
And now...I re-start the challenge with $125 in savings for my wedding. Lol. Sobs. (Not really.) (Maybe.) (My bank account wants to know if it's too late to elope.)
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10/16/2018: $10,030.04!!
Work + life have continued to be super-busy, so I haven't been around, but I wanted to check in since I MADE IT! It took me longer than I thought it would, even with a hand along the way, but I kept slogging it out and as of today I am officially over the $10k mark. Thank you all so much for the support and accountability along the way.
And now...I re-start the challenge with $125 in savings for my wedding. Lol. Sobs. (Not really.) (Maybe.) (My bank account wants to know if it's too late to elope.)
Congrats!!! and good luck on your next race for the wedding :) Part of me wishes I eloped but the vast majority of me is really happy with how the day turned out and I won't want to trade that in for the money I spent.
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10/16/2018: $10,030.04!!
Work + life have continued to be super-busy, so I haven't been around, but I wanted to check in since I MADE IT! It took me longer than I thought it would, even with a hand along the way, but I kept slogging it out and as of today I am officially over the $10k mark. Thank you all so much for the support and accountability along the way.
And now...I re-start the challenge with $125 in savings for my wedding. Lol. Sobs. (Not really.) (Maybe.) (My bank account wants to know if it's too late to elope.)
Hooray!!! Way to go, fluffmuffin! And it's never too late to elope! ;)
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Congrats Fluffmuffin! Well done. We will be eloping, but it's also totally possible to have a (relatively) cheap wedding. We went to one of those recently. The party and the food was great, but I think they saved a fortune by having the ceremony in the late afternoon and then a party from 6 to 11 in a BBQ-restaurant instead of having the ceremony earlier in the day, followed by wedding cake, formal dinner and a late night party. The bride also wore a prom dress instead of a huge white bridal gown. And this was probably the most fun wedding I've ever been to :)
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Congrats Fluffmuffin! Woo hoo!
And +1 that cheap weddings are doable and fun. There are at least a couple of threads on the forum about it.
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Congratulations @fluffmuffin !! We did our wedding for about 3 grand. not super cheap but rather cheap for the 250 guests we had.
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We were almost FIRE when we got engaged. We decided to elope and I retired 21 days later. Totslly worth it. We planned on throwing a big party afterwards, but it just never seemed necessary. We celebrated our sixth anniversary last week. Best decision ever.
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Thanks all. I'm not actually re-starting the challenge because a lot of the wedding money will be flowing in and out in unpredictable waves, but I'll still be here in spirit :)
We don't actually want to elope--we love our family + community and want to celebrate with them. Money is just real and we're stuck with a pricier area for $reasons.
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Posting to get some of this sweet motivation. In 2016 DH and I had 6 mo of living expenses saved up right before SHTF. We moved 1000 miles to be closer to family while there still some left after one relative died and another fell ill. Then, the job I was counting on to ease our transition to the new location turned out to be unsafe. Thanks to the FU fund I was able to quit before I got hurt, but it was a long year of part time jobs and side hustles before we were both fully employed again. We made lifestyle adjustments on the fly adjusting to the lower wages in this region and managed to stay debt free, but now that life has stabilized I recently realized we’re coasting a bit, so it’s time I focus on building the fund back up before lifestyle inflation sneaks up on us, or the SHTF again.
Having that money available made all the difference these last two years. Times were tight and doing without hurt, but for the most part, we were able to make choices based on what fit our goals and morals, not based on what we could afford in the moment. I can’t state strongly enough how valuable it is to have something tucked away.
Oct 2018 emergency fund $3,044
I have never cottoned to the idea that a tiny EF was sufficient. Seems as if you agree and it saved your bacon. Glad you had it and even more glad that you've landed on your feet again. You'll be winning this race in no time!
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October 7, 2018 = $600
October 18, 2018 = $2500
Had a little more savings then I originally thought and added it. I`m also pulling a lot of overtime money in. My goal is to save/invest $3,000 a month. Things are about to get interesting.
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Well done @fluffmuffin !!
All the best moving forward and I'll visit you in the race to 100 soon! :)
@jojoguy That's a really impressive increase for a few weeks worth of time! If you hit your 3k per month target you'll fly through here!
@SheWhoWalksAtLunch You've done well to weather the storm! Imagine how bad it could have been had you not had an emergency fund?
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+£1,319.83 this month. It's my 6th month in a row where I've increased my N/W by over £1k. This 'should' be my last month on this thread, but I do have quite a bit coming up with Christmas, stag-do, short holiday etc. Regardless I should be done by Christmas which was my initial target.
(http://i64.tinypic.com/ny5h6v.png)
(http://i63.tinypic.com/2ik9mco.png)
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Nice Job Manchester!
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Well done Manchester! You've been making a lot of progress over the summer / autumn.
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Thanks guys. I think my progress over the summer/autumn has been down to 2 things - My girlfriend returned to work, which means I'm no longer covering extra bills etc. The second is my matched betting side hustle really helping. I think the more my matched betting bank grows the more I'll make. Everything I make from my side hustle is with FIRE in mind!
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I'd like to join. I have two things I'm watching right now - my car loan and my emergency fund. I'd like to pay off the car loan and get the emergency fund up to $10,000.
$4246.67 car loan, $1246.67 saved, $3000 left to pay off
$800 emergency fund, $9200 left to fully fund my emergency fund
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I'd like to join. I have two things I'm watching right now - my car loan and my emergency fund. I'd like to pay off the car loan and get the emergency fund up to $10,000.
$4246.67 car loan, $1246.67 saved, $3000 left to pay off
$800 emergency fund, $9200 left to fully fund my emergency fund
Welcome to the thread! Can I ask why you want a $10k E/F? Do you have a higher NET worth already or is this your FIRE starting point?
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I'd like to join. I have two things I'm watching right now - my car loan and my emergency fund. I'd like to pay off the car loan and get the emergency fund up to $10,000.
$4246.67 car loan, $1246.67 saved, $3000 left to pay off
$800 emergency fund, $9200 left to fully fund my emergency fund
Welcome to the thread! Can I ask why you want a $10k E/F? Do you have a higher NET worth already or is this your FIRE starting point?
Thanks for the welcome. Yes, I have a couple reasons for the high emergency fund. To answer your question, it's more my FIRE starting point.
1. Right now most of my net worth is in a IRA. I'm in the income acquiring stage of FIRE. I don't even have a Roth IRA to pull from in case of job loss.
2. $10,000 makes me feel secure functioning as a job loss fund. My rent feels high to me ($1400). Right now if I lost my job I would have only a month or two -- I'd be forced to find another job very quickly instead of taking my time and finding the best job for me. I am locked into a lease until April so I couldn't easily move somewhere cheaper (also, I like where I live for now).
3. $10,000 feels like f-u money if my job ever becomes miserable.
4. I have an older Prius and want to have money ready to go for a battery replacement, if I need that at some point.
5. I would put $5,500 of it into a Roth IRA so it could earn interest. Then, if I never touch it, I'll still come out ahead.
6. $10,000 opens options if I decide to later build a tiny home. I could put aside some of it as a starter savings for the tiny home and live with a smaller emergency fund.
I have a case study where I posted numbers. It's called Case Study -- where to put my surplus? if you're interested.
https://forum.mrmoneymustache.com/case-studies/case-study-where-to-put-my-surplus/ (https://forum.mrmoneymustache.com/case-studies/case-study-where-to-put-my-surplus/)
Edit: Added another reason.
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Welcome! :) Looking at your case study, I think 10k is a very reasonable goal. My EF goal is only 5k, but I'm not single and we don't live in a HCOL area. Plus I have investments in a post-tax account that I can always sell if I have to.
If you make 6 figures, a very high EF doesn't make sense, but I firmly believe a solid EF is a life saver for people on a (relatively) lower income, because you can't cashflow unexpected bills like people with a high income can.
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Welcome! :) Looking at your case study, I think 10k is a very reasonable goal. My EF goal is only 5k, but I'm not single and we don't live in a HCOL area. Plus I have investments in a post-tax account that I can always sell if I have to.
If you make 6 figures, a very high EF doesn't make sense, but I firmly believe a solid EF is a life saver for people on a (relatively) lower income, because you can't cashflow unexpected bills like people with a high income can.
Thanks for the welcome. Yes, that's true. Perhaps once I start investing I might be comfortable with a lower emergency fund but for now I just want the security.
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I'd like to join. I have two things I'm watching right now - my car loan and my emergency fund. I'd like to pay off the car loan and get the emergency fund up to $10,000.
$4246.67 car loan, $1246.67 saved, $3000 left to pay off
$800 emergency fund, $9200 left to fully fund my emergency fund
Great, gonna take a look now! :)
Welcome to the thread! Can I ask why you want a $10k E/F? Do you have a higher NET worth already or is this your FIRE starting point?
Thanks for the welcome. Yes, I have a couple reasons for the high emergency fund. To answer your question, it's more my FIRE starting point.
1. Right now most of my net worth is in a IRA. I'm in the income acquiring stage of FIRE. I don't even have a Roth IRA to pull from in case of job loss.
2. $10,000 makes me feel secure functioning as a job loss fund. My rent feels high to me ($1400). Right now if I lost my job I would have only a month or two -- I'd be forced to find another job very quickly instead of taking my time and finding the best job for me. I am locked into a lease until April so I couldn't easily move somewhere cheaper (also, I like where I live for now).
3. $10,000 feels like f-u money if my job ever becomes miserable.
4. I have an older Prius and want to have money ready to go for a battery replacement, if I need that at some point.
5. I would put $5,500 of it into a Roth IRA so it could earn interest. Then, if I never touch it, I'll still come out ahead.
6. $10,000 opens options if I decide to later build a tiny home. I could put aside some of it as a starter savings for the tiny home and live with a smaller emergency fund.
I have a case study where I posted numbers. It's called Case Study -- where to put my surplus? if you're interested.
https://forum.mrmoneymustache.com/case-studies/case-study-where-to-put-my-surplus/ (https://forum.mrmoneymustache.com/case-studies/case-study-where-to-put-my-surplus/)
Edit: Added another reason.
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I firmly believe a solid EF is a life saver for people on a (relatively) lower income, because you can't cashflow unexpected bills like people with a high income can.
This is where I'm at, and why I want to save at least $10K in my EF.
And welcome carozy!
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Date Corvette Roth - 1 DRIP Stock Total
9/18/18 1760.03 1000 3423.11 6183.14
9/30/18 2000.03 1000 3473.11 6473.14
10/13/18 2051.48 1200 3473.11 6724.59
10/28/18 2101.48 1300 3473.11 6874.59
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I'm glad that my investment account only gets updated once a week, so I'll only see the damage this Monday.
I'm getting very close to this year's 5k savings target, but I nerd to buy some expensive items over the next few weeks: new glasses, winter shoes and a winter coat. I've been looking for used for months, but didn't find what I was looking for, then also started looking for new and I still can't find what I want. I need to make a decision soon, wearing my old coat / shoes for one more year is not an option (both are over 10 years old and their replacement is long overdue). I hate having to spend money when I'm so close to my target.
I just bought some replacement glasses from Zenni Optical $16 and $6 was shipping.
Do you like them? Sorry far, I've always regretted going for the cheaper option when it comes to glasses.
I do. I've been getting a lot of compliments too. These are my second pair from them. I realized I lose and break glasses so easily hence I stopped investing. When I was in high school I lost a pair of $250 frames which my mom replaced and then I ended up losing them on the train because I would take my glasses off to read. $500 flushed down the drain. After that, I decided to find the cheapest pair I could. Weirdly enough, I find my cheaper glasses are strangely more resilient. I don't know why when I care less about a product they last forever, but yet when I baby a product, guaranteed damage.
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Savings:
July 31: €2400
August 30: €2000
September 27: €1300
October 30: €1400
November 30: €1600
December 29: €1100
February 1: €1100
February 28: €1300
March 29: €1300
April 30: €800
May 29: €2300
June 28: €3500
July 31: €3250
August 31: €3700
September 30: €2550
October 29: €3500
Pre-tax investments:
October 29: €96.24
Post-tax Investments:
July 31: €1985.37
August 30: €2095.00
September 27: €2253
October 30: €2461
November 30: €2622.06
December 29: €2661.50 (didn't do the monthly transfer yet)
February 1: €3021,56
February 29: €3101,58
March 29: €3160,54
April 30: €3439.66
May 29: €3729.27
June 29: €3890.53
July 31: €4106.20
August 31: €4278.05
September 29: €4285.11 (didn't do the monthly transfer yet)
October 29: €4453.30 (did a double transfer this month, but sadly a lot of my gains have been wiped out)
Total:
July 31: €4385.37
August 30: €4095.00
September 27: €3553
October 30: €3861
November 30: €4222.06
December 29: €3761,50 (+ 740 unpaid salary = 4501.50 )
February 1: €4121,60
February 29: €4401,58
March 29: €4460,54
April 30: €4239.66
May 29: €6029.27
June: €7390.53
July 31: €7356.20 ( + €70 on my credit card, so really €7426.20)
August 31: €7978.05
September 29: €6835.11
October 29: €8049.54
Goals for 31 December 2018:
Savings: €3000 €5000
Investments: €4500
Total: €7500 €9500
This has been an expensive month! The issue with my former boss was solved, I received what they owed me and the new job is 1000x better. This month I bought a new winter coat, winter boots and spent about €600 on study costs not covered by student loans (a prereq course and reference books) and we also spent a bit more on travel and easy-to-prepare food because we had a wedding, two birthday parties and a relative in the hospital (who's doing quite well now, luckily). I felt quite bad by all this 'wasting' of money because I might not reach my savings goals this year, but the truth is these costs were (almost) unavoidable and I'm still making progress. My coat and my boots were both 10 years old and very worn-out and needed replacing, study costs will pay themselves back 10-fold once I get my degree and it's important to keep up with family and friends.
I opened a retirement account a few months ago and transferred money into it for the first time. In my country, tax-deferred investing for retirement is much more limited than it is in the US, all in all I expect to be allowed to invest €3000 for 2016-2017-2018 (you can defer the contribution up to 7 years) My new job has a very good pension scheme, which means I won't be able to contribute anything from now on. Once I hit my savings goal, I'll throw all my money at the tax-deferred account to max it out asap. This will also give me a nice big tax return in spring 2019 that I can put towards post-tax investments.
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10/2/18 - $(2742.60)
10/29/18 - $(1899.81)
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October 2018 Update
3/31/2017 (52,848.85)
4/30/2017 (48,076.67)
5/31/2017 (47,110.22)
6/30/2017 (46,540.28)
7/31/2017 (44,354.10)
8/31/2017 (47,236.39)
9/30/2017 (42,436.10)
10/31/2017 (33,346.78)
11/30/2017 $(28,911.53)
12/31/2017 $(24,424.13)
1/31/2018 $(20,454.43)
2/28/2018 $(18,221.63)
3/31/2018 $(14,916.69)
4/30/2018 $(9,800.88)
5/31/2018 $(7,375.85)
6/30/2018 $(5,735.59)
7/31/2018 $(7,109.58)
8/31/2018 $(6,439.93)
9/30/2018 $(2,990.84)
10/31/2018 $(4,180.43) -$1,189.59 Decrease :(
The market just killed me this month. I guess that's what happens when so much of my assets are invested. So the good thing is that my debts have still gone down and my Emergency fund (and other savings accounts) are up. Spending is still low so I feel like I've done all I can and when the market goes back up I'll see the rewards.
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October 2018 Update
10/31/2018 $(4,180.43) -$1,189.59 Decrease :(
The market just killed me this month. I guess that's what happens when so much of my assets are invested. So the good thing is that my debts have still gone down and my Emergency fund (and other savings accounts) are up. Spending is still low so I feel like I've done all I can and when the market goes back up I'll see the rewards.
One thing that is helpful mentally is to do some Future Value calculations. You can even do some simple compound interest calcs to see where you could be in 10, 20 years if you even did nothing else right now. I like to do this to reframe the situation mentally for decision-making etc. :)
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^^It helps to watch the number of shares you have, not the dollars. The number goes up faster as the market declines, which helps you bounce back faster and higher when the tide comes in again.^^
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October emergency fund: $4988 (-$422)
I got hit with my emergency root canal bill this month. My e-fund keeps bouncing around $5K. I mean, it's good that I have it when I need it, but frustrating because I want it to go up! Well, onward to next month.
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September emergency fund: $5410
October emergency fund: $4988 (-$422)
I got hit with my emergency root canal bill this month. My e-fund keeps bouncing around $5K. I mean, it's good that I have it when I need it, but frustrating because I want it to go up! Well, onward to next month.
That sucks. Hope your tooth is OK. At least you had an emergency fund functioning for you as it should be!
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September emergency fund: $5410
October emergency fund: $4988 (-$422)
I got hit with my emergency root canal bill this month. My e-fund keeps bouncing around $5K. I mean, it's good that I have it when I need it, but frustrating because I want it to go up! Well, onward to next month.
Hope you are feeling better! Keep on keeping on. I had a bad three year stretch once where I ended up in the ER three times. At least I didn't have to worry about money, and that's huge. The emergency fund helps you sail over the bumps and then it will grow again, no worries.
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2018
1/31 : (5949.05)
2/28 : (5288.30)
3/31 : (4273.93)
4/30 : (2592.07)
5/31 : (629.70)
6/30 : 1,206.77
7/31 : 2,703.97
8/31: 5,651.70
9/31: 8,039.01
10/31: 7,803.49
Markets didn't help out at all this month as you all know. I invested right around $1,350 but lost ~2,200. My debt principles went down another ~950 and I have to pull 245 out of my EF. All in all I think the month still ended up ok as I only lost what I pulled out of my EF from my net worth. All that can be done now is to keep going. Hoping to still graduate from this thread this year.
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^^It helps to watch the number of shares you have, not the dollars. The number goes up faster as the market declines, which helps you bounce back faster and higher when the tide comes in again.^^
Yes I should track number of shares as well. It'll be good to see that number still going up even when the dollars go down.
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1/1/2018: $(170,956.12)
2/1/2018: $(166,849.63)
3/1/2018: $(161,395.88)
4/1/2018: $(156,590.44)
5/1/2018: $(152,997.61)
6/1/2018: $(149,175.48)
7/1/2018: $(143,748.22)
8/1/2018: $(138,734.38)
9/1/2018: $(135,043.66)
10/1/2018: $(131,441.14)
11/1/2018: $(133,372.50)
lol yikes yikes yikes. Well, like everyone else, this month I lost all my gains for the year and then some. Hence moving backwards! BUT I also got my EF to $10K (yay!) and of course made my usual retirement contributions and debt payments. So while it's annoying to see the number move in the wrong direction, the things that are under my control are still moving the right way.
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lol yikes yikes yikes. Well, like everyone else, this month I lost all my gains for the year and then some. Hence moving backwards! BUT I also got my EF to $10K (yay!) and of course made my usual retirement contributions and debt payments. So while it's annoying to see the number move in the wrong direction, the things that are under my control are still moving the right way.
At least we are all in the same boat. It helps me to know that it's nothing I did wrong and just the Market. After a steady increase a dip downward was inevitable.
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October 7, 2018 = $600
October 18, 2018 = $2500
November 1, 2018 = $5,995
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10/18 $2,545
10/29 $2,901
11/4 $3,355 – I wish I could get excited about progressing this quickly these last few weeks, but this account is also where we save up in expectation of property taxes, home & vehicle insurance, and other annual expenses so the first $700 each month really is in anticipation of that. All annual expenses are paid for this year which is a plus, but they’ll be back and I want to be prepared.
I worked so hard to end 2018 with $2,000 surplus in this account and really want to end 2019 with $4,000, but I’m bracing for the next unexpected expense so I’m reluctant to celebrate. On the plus side, my company changed providers and reduced the cost of my share of health insurance for 2019 which should help.
overall goal - $10k surplus in savings/emergency fund
current push- $4k by January 1, 2018
Perseverance my friend. :)
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Everyone is on a downer because of the market.... Guys, stocks are on sale! When it recovers you'll be laughing your pants off! This is the best time in our journey for markets to be crashing and falling - hopefully they fall further.
Everyone seems to be doing really well, just keep going! It's a marathon not a sprint! :)
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I'm not panicking about the market yet. I'm old enough to remember 2008 ;-) my index funds have recovered quite a bit already. I just wish I was able to buy more 2 weeks ago.
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10/18 $2,545
10/29 $2,901
11/4 $3,355 – I wish I could get excited about progressing this quickly these last few weeks, but this account is also where we save up in expectation of property taxes, home & vehicle insurance, and other annual expenses so the first $700 each month really is in anticipation of that. All annual expenses are paid for this year which is a plus, but they’ll be back and I want to be prepared.
I worked so hard to end 2018 with $2,000 surplus in this account and really want to end 2019 with $4,000, but I’m bracing for the next unexpected expense so I’m reluctant to celebrate. On the plus side, my company changed providers and reduced the cost of my share of health insurance for 2019 which should help.
overall goal - $10k surplus in savings/emergency fund
current push- $4k by January 1, 2018
Perseverance my friend. :)
+ 1 to perseverance.
Also, maybe there's a better word to use than "surplus". Your green soldiers are not "surplus". They have an important job to do. Maybe try thinking of them as "Reservists" or "Disaster Prevention Specialists". It's not just semantics, it really does help prioritize saving. Mental tricks work.
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Date Corvette Roth - 1 DRIP Stock Total
9/18/18 1760.03 1000 3423.11 6183.14
9/30/18 2000.03 1000 3473.11 6473.14
10/13/18 2051.48 1200 3473.11 6724.59
10/28/18 2101.48 1300 3473.11 6874.59
11/10/18 2258.63 1400 3473.11 7131.74
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10/18 $2,545
10/29 $2,901
11/4 $3,355
11/11 $3,355 – the next unexpected expense hit. I threw everything I had in the checking account at it, so there was nothing left to transfer to savings.
When we bought the house we are in now, it came complete with the original 1980’s appliances. Knowing that everything would eventually have to be replaced, and refusing to pay full price for new appliances if we didn’t have to, we started searching scratch and dent/bone yards at our local big box stores every few weeks. This weekend when I ran out of lye while making soap, we took a trip into town and stumbled across the dryer of our dreams tucked in a corner marked half off. We pulled out the paid off credit card, packed our new dryer in the back of the Prius to get it home and installed it ourselves. Unfortunately, in our excitement we forgot to pick up lye, so the soap is on hold until our next trip into town.
I’m very excited to have the new dryer as hang-it-out-to-dry weather is almost over for this year, but I’m also a little disappointed that I won’t reach my current push goal as quickly as I hoped. It’s a calculated risk, I could have limped on for another winter with a dryer that only has one functioning setting left, but the new machine is dramatically less frustrating to operate and I’m pretty sure we’re going to see cost savings on our electric bill almost immediately. The only thing we can find wrong with the new machine is a scratch on the front glass.
overall goal - $10k in savings/emergency fund
current push- $4k by January 1, 2018
Wow! Look what those soldiers did for you! That's kind of the point of savings, no? You anticipated a need, shopped until you found a great deal, and pulled the trigger. Hooray for you! It may help to note that I am not someone who considers a dryer optional, particularly in winter.
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Just did some calculations and it's absolutely impossible to reach my 2018 updated savings target. As long as I keep paying the mortgage, that is :-) so I'll be around until probably mid-spring 2019 if nothing unexpected happens.
All in all I'm not unhappy about my progress in 2018 though: I started grad school, a new, better paid job and my own business and those things come with a price tag. I expect a big tax return in spring 2019 and I'm in a good position to make lots of progress over the next couple of years.
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Just did some calculations and it's absolutely impossible to reach my 2018 updated savings target. As long as I keep paying the mortgage, that is :-) so I'll be around until probably mid-spring 2019 if nothing unexpected happens.
All in all I'm not unhappy about my progress in 2018 though: I started grad school, a new, better paid job and my own business and those things come with a price tag. I expect a big tax return in spring 2019 and I'm in a good position to make lots of progress over the next couple of years.
On the other hand; you greatly exceeded your initial goal and are ready to make lots faster progress in coming years!
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Just did some calculations and it's absolutely impossible to reach my 2018 updated savings target. As long as I keep paying the mortgage, that is :-) so I'll be around until probably mid-spring 2019 if nothing unexpected happens.
All in all I'm not unhappy about my progress in 2018 though: I started grad school, a new, better paid job and my own business and those things come with a price tag. I expect a big tax return in spring 2019 and I'm in a good position to make lots of progress over the next couple of years.
On the other hand; you greatly exceeded your initial goal and are ready to make lots faster progress in coming years!
And isn’t it also very Mustachian to invest in yourself and in becoming happier? Money is ‘only’ one way of achieving freedom and peace of mind
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October 7, 2018 = $600
October 18, 2018 = $2500
November 1, 2018 = $5,995
November 15, 2018 = $9,273(That sweet sweet overtime!)
Not much longer! To everybody on this board and MMM I want to say thankyou. Since discovering this website and message board I have saved more money in two months than
I have saved in two years. My wife is even on board now because of the results. The markets started downhill for me since the very start of my deposits, but I have been able to
keep adding to the pile every time I get paid. It all ends up on the up regardless in the sense of being frugal. Again thankyou guys for the motivation and advice.
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Great progress @jojoguy !! Great to hear your wife is on board now. Who wouldn't be when you've showed you can save almost 10k in a little over a month??
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congrats @jojoguy !! that is awesome and inspiring to see.
i was looking over my finances and I have a good chance of making it to $0 net worth by the end of the year. it will only be shortlived, i'm afraid, unless i pick up a job right away in january. even then, i have car loan debt coming in the near future (maybe? depends on my lease-end situation).
it's hard for me to even imagine being debt-free, and i barely have any debt! always seems like there's another hurdle i have to save for every time i think i can turn my full attention to paying down debt.
10k net worth seems so far away!
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November 15 2018 Update
3/31/2017 (52,848.85)
4/30/2017 (48,076.67)
5/31/2017 (47,110.22)
6/30/2017 (46,540.28)
7/31/2017 (44,354.10)
8/31/2017 (47,236.39)
9/30/2017 (42,436.10)
10/31/2017 (33,346.78)
11/30/2017 $(28,911.53)
12/31/2017 $(24,424.13)
1/31/2018 $(20,454.43)
2/28/2018 $(18,221.63)
3/31/2018 $(14,916.69)
4/30/2018 $(9,800.88)
5/31/2018 $(7,375.85)
6/30/2018 $(5,735.59)
7/31/2018 $(7,109.58)
8/31/2018 $(6,439.93)
9/30/2018 $(2,990.84)
10/31/2018 $(4,180.43)
11/15/2018 $(3,070.80) +1,109.63 increase
Right about back to end of Sept numbers. Hoping to make some more head way this month and finish around -$2K and then hit zero by year end. It feels so far away but then I look at where I started and realize how close I am. It's so hard to believe I was that far negative less than 2 years ago.
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I made marginal gains in each of my different categories, overall my N/W increased by £1,270.57 to £10,691.37!
This included a long weekend away for a stag do. A few birthday presents etc. I decided against a second trip abroad this month to save a bit extra.
Matched betting has been quiet with the international break + my holiday, most of the gains are from the end of last month.
(http://i67.tinypic.com/23hrg8y.png)
(http://i65.tinypic.com/2n1ywi9.png)
I started 14 months ago. around that time I couldn't sleep I was so stressed about my finances. The thought of having to take a loan out or ask family for money was humilating. I've made a genuine change over that time and I'd like to thank you guys for keeping me accountable and motivated.
I'll come back here to check on your progress, but for now I'm in the Race to 100k!
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Wow @Manchester, congratulations!! Well done. Can you believe the amount of progress you've made in such a short period of time? Hope to see you soon in the next thread!
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You guys are so inspirational! Great job Manchester! I hope to be joining you in the race to 100K soon too.
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I love this thread, so I'm giving it a little bump on Black Friday Weekend. Stay strong and don't buy shit you don't need, people! You can do this!
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Congratulations Manchester, you made really impressive progress. Good luck in the next thread!
BoI savings a/c: 130.00
DiBa ETF: 985.44
CmzBank savings a/c: 1,600.00
Total: 2,715.44
Big invoices were paid and I've replenished my annual expenses account, which was starting to look very bare, and added a bit more to my holidays/travel account, too. But I was still able to add a nice big chunk to savings. I have a few smaller invoices that will be paid soon and a "13th paycheck" that gets paid out at the end of November. I'll be putting half of all that straight into savings and using the other half as a fund to get a few things around the house done that I've been wanting to do since I moved here two and a half years ago. But I have a definite list and once all of that is done, any money left over will go straight to savings. That fund will be a limit, not a target!
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10/2/18 - $(2742.60)
10/29/18 - $(1899.81)
11/25/18 - $(~1535) (+364.81)
November kicked my ass in a big way. Where I was supposed to come out with ~$1400 to put toward my savings/IRA/loans, I somehow managed to blow it all and leave only $400 TOTAL to spare. This was due in part to an unforeseen vet bill, a trip home for thanksgiving that cost more than anticipated, budgeted Christmas gift money, and yes, Black Friday. This isn't a final number, but it's probably close.
A good chunk of it was spent on buying a saddle for my riding lessons (yes, facepunch), and I couldn't pass up the deal. I'd planned to purchase one early next year, but would have probably spent x2 as much. So as much as I'm anxiety-central about how much I spent, it was money I had already allocated in the future. THough it might seem totally silly to buy a saddle when I don't own a horse, I've calculated that I've "spent" (read wasted time during lessons that cost $1/min) at least the price of this saddle due to spending time adjusting stirrups/etc at lessons (despite arriving early to tack up) that I will not longer have to do because I have a saddle that will already be adjusted when I put it on.
Also, next month will be roughly the same usual stash to allocate savings even though I'll have 1 less week of paid work. This is because my rent will be significantly less this month (watching the house while the owners are gone and one week less of rent), and I won't have a few of my monthly expenses.
If something changes with this total, I'll adjust next month.
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Way to go Manchester!!! I hope to see you soon in the race to $100K!
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Congrats Manchester! hopefully following in your footsteps here next month.
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October 7, 2018 = $600
October 18, 2018 = $2500
November 1, 2018 = $5,995
November 15, 2018 = $9,273
November 29, 2018 = $11,340
Whoohoo! Let`s keep going guys!
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October 7, 2018 = $600
October 18, 2018 = $2500
November 1, 2018 = $5,995
November 15, 2018 = $9,273
November 29, 2018 = $11,340
Whoohoo! Let`s keep going guys!
Congratulations!
Damn, that's nearly 10k in 2 months.
I'd say see you in the next thread but at this rate I won't be seeing you for long there either, good job.
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Great Job jojoguy! You'll be through the next race in no time.
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Congrats jojoguy! Your moving fast on your way to financial freedom!
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Congrats @jojoguy!
Keep up the good work everyone! December is here, with non-stop spending temptations. Stay strong, hold the line, and come out the other side in January with huge bulging frugality muscles!
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October 7, 2018 = $600
October 18, 2018 = $2500
November 1, 2018 = $5,995
November 15, 2018 = $9,273
November 29, 2018 = $11,340
Whoohoo! Let`s keep going guys!
Congratulations!
Damn, that's nearly 10k in 2 months.
I'd say see you in the next thread but at this rate I won't be seeing you for long there either, good job.
Well look at your badass self, crashing through barriers like that! Enjoy the next challenge level on your way to FIRE.
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November 2018 Update
3/31/2017 (52,848.85)
4/30/2017 (48,076.67)
5/31/2017 (47,110.22)
6/30/2017 (46,540.28)
7/31/2017 (44,354.10)
8/31/2017 (47,236.39)
9/30/2017 (42,436.10)
10/31/2017 (33,346.78)
11/30/2017 $(28,911.53)
12/31/2017 $(24,424.13)
1/31/2018 $(20,454.43)
2/28/2018 $(18,221.63)
3/31/2018 $(14,916.69)
4/30/2018 $(9,800.88)
5/31/2018 $(7,375.85)
6/30/2018 $(5,735.59)
7/31/2018 $(7,109.58)
8/31/2018 $(6,439.93)
9/30/2018 $(2,990.84)
10/31/2018 $(4,180.43)
11/30/2018 $(1,495.30) +$2,685.13 increase
So very close to zero! Next month I will be paying my DD Spring Tuition which should be about $1,500 or so. I think even with that I should still hit zero, fingers crossed.
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October emergency fund: $4988
November emergency fund: $5247 (+$259)
Upwards we go again, finally. Also, I changed my avatar to Peggy Olsen from Mad Men. I've been re-watching it and I need to channel my own inner bad ass Peggy Olsen.
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Wow, jojoguy! Congrats! See you in the race to 100K thread...for about 2 seconds!
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Savings:
July 31: €2400
August 30: €2000
September 27: €1300
October 30: €1400
November 30: €1600
December 29: €1100
February 1: €1100
February 28: €1300
March 29: €1300
April 30: €800
May 29: €2300
June 28: €3500
July 31: €3250
August 31: €3700
September 30: €2550
October 29: €3500
December 1:. €2900
Pre-tax investments:
October 29: €96.24
December 1:. €197,68
Post-tax Investments:
July 31: €1985.37
August 30: €2095.00
September 27: €2253
October 30: €2461
November 30: €2622.06
December 29: €2661.50 (didn't do the monthly transfer yet)
February 1: €3021,56
February 29: €3101,58
March 29: €3160,54
April 30: €3439.66
May 29: €3729.27
June 29: €3890.53
July 31: €4106.20
August 31: €4278.05
September 29: €4285.11 (didn't do the monthly transfer yet)
October 29: €4453.30 (did a double transfer this month, but sadly a lot of my gains have been wiped out)
December 1:. €4621,02
Total:
July 31: €4385.37
August 30: €4095.00
September 27: €3553
October 30: €3861
November 30: €4222.06
December 29: €3761,50 (+ 740 unpaid salary = 4501.50 )
February 1: €4121,60
February 29: €4401,58
March 29: €4460,54
April 30: €4239.66
May 29: €6029.27
June: €7390.53
July 31: €7356.20 ( + €70 on my credit card, so really €7426.20)
August 31: €7978.05
September 29: €6835.11
October 29: €8049.54
December 1: €7718,07
Goals for 31 December 2018:
Savings: €3000 €5000
Investments: €4500
Total: €7500 €9500
I reached my initial investment target, I think that's the only thing to be happy about this month. Other than that, this is another meh-month. I'm not making progress and I'm in the situation where a non-mustachian person might say "I don't know where my money went" but I do - I just have very little to show for it.
I had two hospital appointments (regular checkup) and these are covered by insurance but the travel costs are €25 every time. I paid €75 out of pocket for meds my insurance doesn't cover. I'm taking the bus a little more often in the morning instead of walking 20 minutes ( €1,25 every time) because I'm stressed out and exhausted - trying to get out of the habit. Some supplies for my business. Needed new glasses because the old ones broke and couldn't be forced and bought new lenses for my sunglasses (kept the frame). Lots of things that add up.
I'm not going to buy piles of presents but December is always expensive for me - we do buy some extra food, have guests over and travel to see family and friends 2-3 times. If I get very lucky I might end the year with a net worth starting with 8.
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1/1/2018: $(170,956.12)
2/1/2018: $(166,849.63)
3/1/2018: $(161,395.88)
4/1/2018: $(156,590.44)
5/1/2018: $(152,997.61)
6/1/2018: $(149,175.48)
7/1/2018: $(143,748.22)
8/1/2018: $(138,734.38)
9/1/2018: $(135,043.66)
10/1/2018: $(131,441.14)
11/1/2018: $(133,372.50)
12/1/2018: $(128,081.25)
Happy to be moving in the right direction again. And to be in the negative 120s!
Congrats @Manchester and @jojoguy!!!
Love that avatar @LittleWanderer. There are some really great prints of that moment on Etsy -- have always been tempted to hang one in my office but I guess that should probably wait until I have FU money... :)
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Love your updates @mckaylabaloney! I was almost exactly where you are, at the age you are now. Way to go toe-to-toe with the beast. Those 10k thresholds really feel good to cross, don't they? You're doing a great job. You've got this!
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Love your updates @mckaylabaloney! I was almost exactly where you are, at the age you are now. Way to go toe-to-toe with the beast. Those 10k thresholds really feel good to cross, don't they? You're doing a great job. You've got this!
Thank you, that’s really encouraging!
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2018
1/31 : (5949.05)
2/28 : (5288.30)
3/31 : (4273.93)
4/30 : (2592.07)
5/31 : (629.70)
6/30 : 1,206.77
7/31 : 2,703.97
8/31: 5,651.70
9/31: 8,039.01
10/31: 7,803.49
11/30: 9,531.28
Moving back in the correct direction again this last month. So close to breaking that $10,000 threshold. Should make it next month as long as something major doesn't happen.
Dang @mckaylabaloney $40,000+ knocked off of your debt in one year very impressive! You are going to be breaking out of the 6 digits here before you know it.
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Hi everyone *waves*
Posting to make myself accountable for starting some savings!
Background: Me, hubby and still supporting our 3 uni student kids
Whilst we don't have any debt other than our mortgage, we use every penny in our monthly income and none has been set aside so far for EF, retirement or savings. We're not expecting to RE but we do want to retire one day! I have been working on a monthly budget to start saving from Jan 2019. I figure getting Christmas out of the way first is a good plan and then we can focus on saving. I am keeping December's costs as low as possible ready for the best start. Will update end of Jan with our progress :)
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Hi everyone *waves*
Posting to make myself accountable for starting some savings!
Background: Me, hubby and still supporting our 3 uni student kids
Whilst we don't have any debt other than our mortgage, we use every penny in our monthly income and none has been set aside so far for EF, retirement or savings. We're not expecting to RE but we do want to retire one day! I have been working on a monthly budget to start saving from Jan 2019. I figure getting Christmas out of the way first is a good plan and then we can focus on saving. I am keeping December's costs as low as possible ready for the best start. Will update end of Jan with our progress :)
Welcome! Good luck on your race and keeping December costs down. It is always a tough month.
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Welcome @Lincolnshire Girl ! Good luck on keeping costs as low as possible in December and see you in January!
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Almost to zero (-2879)! By my calculations should be ‘worthless’ by Feb 14th 2019.
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Almost to zero (-2879)! By my calculations should be ‘worthless’ by Feb 14th 2019.
Nothing sweeter than realizing you are worthless on Valentine's Day! My personal annual tradition.
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Adding in the pictures because I'm well into the 'downhill' of my mountain. Plus a picture tells a thousand words and all that jazz.
(https://scontent.fsyd8-1.fna.fbcdn.net/v/t1.15752-9/47429169_369234403845895_4380983087073329152_n.jpg?_nc_cat=104&_nc_ht=scontent.fsyd8-1.fna&oh=ae002195203bba1e5f719370ede7d2f4&oe=5C6AD3C6)
(https://scontent.fsyd8-1.fna.fbcdn.net/v/t1.15752-9/47576173_517099248771516_5709850512531128320_n.jpg?_nc_cat=105&_nc_ht=scontent.fsyd8-1.fna&oh=7842887bc950b5baf6b5ca84f7340903&oe=5CA06805)
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Great progress @Yasha ! Two loans gone an EF and great progress on the remaining debts!
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Welcome @Lincolnshire Girl best of luck for the rest of the year and to starting off next year strong!
Great progress @Yasha going to be worthless before you know it.
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Thanks to all the well-wishers :)
Christmas non-spending is going well so far and January's projected forecast is saving £150-£200. I'm pretty excited about that!
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Well done Yasha - still loving your pictures. It's such a good way of keeping track of progress.
I was delighted to get my EF savings up to 1,900 and then had an accident while driving a rental car. Poof goes the 1,500 excess. I do have an annual insurance policy for that so hopefully they will cover it. I'm just really nervous that they won't or that the basic insurance on the rental car won't cover the damage done and have visions of them coming after me for every penny I have. People keep telling me to just let the insurance handle it, they deal with things like this every day and once I've paid the excess, that's all I need to but I've never had an accident before and I am very anxious. Mostly trying not to think about it and be thankful that at least I do have enough in my account that when the 1,500 shows up on my credit card, I can just pay it off and not be living with a credit card bill again. This is why we have emergency funds.
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If it was an accident (not on purpose) you certainly won't have to pay more than the €1500 excess, even if the damage was much worse. That's why you have insurance. So in the very worst case you'll have to pay €1500, which you can afford because you have an EF. You really shouldn't worry about losing all the money you have. But I'm sure everyone has told you that already. I hope the insurance companies handle this claim very fast so you can put this behind you!
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@Moonwaves -- yes, accidents are upsetting, especially for us planner-and-saver types. But it happens to everyone sooner or later, that's why we have insurance and EFs, and lastly -- better that it happens in a rental car than a car you own. In the big scheme of things when you look back years from now, this will be just a tiny bump in the road -- no big deal.
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If it was an accident (not on purpose) you certainly won't have to pay more than the €1500 excess, even if the damage was much worse. That's why you have insurance. So in the very worst case you'll have to pay €1500, which you can afford because you have an EF. You really shouldn't worry about losing all the money you have. But I'm sure everyone has told you that already. I hope the insurance companies handle this claim very fast so you can put this behind you!
Well, the first email from the rental company arrived and apparently the rental agreement I signed stipulated that I would pay the excess plus any additional charges arising. And they are calculating those additional charges at 1,725 and will be debiting my card a total of 3,275. See, I don't want to be cynical and a scaredy-cat but it feels like insurance scare stories are not just stories. FML.
I have replied asking for an explanation of the costs and explaining that I was only asked when getting the car if I was happy with the excess and no mention was made of additional costs but I am really not confident that I can do anything. Presumably there is something in the small print explaining why I am liable for those charges.
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If it was an accident (not on purpose) you certainly won't have to pay more than the €1500 excess, even if the damage was much worse. That's why you have insurance. So in the very worst case you'll have to pay €1500, which you can afford because you have an EF. You really shouldn't worry about losing all the money you have. But I'm sure everyone has told you that already. I hope the insurance companies handle this claim very fast so you can put this behind you!
Well, the first email from the rental company arrived and apparently the rental agreement I signed stipulated that I would pay the excess plus any additional charges arising. And they are calculating those additional charges at 1,725 and will be debiting my card a total of 3,275. See, I don't want to be cynical and a scaredy-cat but it feels like insurance scare stories are not just stories. FML.
I have replied asking for an explanation of the costs and explaining that I was only asked when getting the car if I was happy with the excess and no mention was made of additional costs but I am really not confident that I can do anything. Presumably there is something in the small print explaining why I am liable for those charges.
Sorry this happened, but it really is just a bump in the road, even with the new wrinkle. Fighting back will cost you nothing but a little time, so push back strongly. You have nothing to lose. It's good practice, no matter what the outcome.
-
If it was an accident (not on purpose) you certainly won't have to pay more than the €1500 excess, even if the damage was much worse. That's why you have insurance. So in the very worst case you'll have to pay €1500, which you can afford because you have an EF. You really shouldn't worry about losing all the money you have. But I'm sure everyone has told you that already. I hope the insurance companies handle this claim very fast so you can put this behind you!
Well, the first email from the rental company arrived and apparently the rental agreement I signed stipulated that I would pay the excess plus any additional charges arising. And they are calculating those additional charges at 1,725 and will be debiting my card a total of 3,275. See, I don't want to be cynical and a scaredy-cat but it feels like insurance scare stories are not just stories. FML.
I have replied asking for an explanation of the costs and explaining that I was only asked when getting the car if I was happy with the excess and no mention was made of additional costs but I am really not confident that I can do anything. Presumably there is something in the small print explaining why I am liable for those charges.
Sorry this happened, but it really is just a bump in the road, even with the new wrinkle. Fighting back will cost you nothing but a little time, so push back strongly. You have nothing to lose. It's good practice, no matter what the outcome.
Second Dicey's remark! You already know the worst (€ 3,275) and you can only win by pushing back. You got this! Go Moonwaves! Yay!
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Mid-December 2018 Update
3/31/2017 (52,848.85)
4/30/2017 (48,076.67)
5/31/2017 (47,110.22)
6/30/2017 (46,540.28)
7/31/2017 (44,354.10)
8/31/2017 (47,236.39)
9/30/2017 (42,436.10)
10/31/2017 (33,346.78)
11/30/2017 $(28,911.53)
12/31/2017 $(24,424.13)
1/31/2018 $(20,454.43)
2/28/2018 $(18,221.63)
3/31/2018 $(14,916.69)
4/30/2018 $(9,800.88)
5/31/2018 $(7,375.85)
6/30/2018 $(5,735.59)
7/31/2018 $(7,109.58)
8/31/2018 $(6,439.93)
9/30/2018 $(2,990.84)
10/31/2018 $(4,180.43)
11/30/2018 $(1,495.30)
12/15/2018 $(533.29) +962.01 increase
So close to being worthless ;P I think I should end the year with Positive Net Worth which is super exciting!
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Mid-December 2018 Update
3/31/2017 (52,848.85)
4/30/2017 (48,076.67)
5/31/2017 (47,110.22)
6/30/2017 (46,540.28)
7/31/2017 (44,354.10)
8/31/2017 (47,236.39)
9/30/2017 (42,436.10)
10/31/2017 (33,346.78)
11/30/2017 $(28,911.53)
12/31/2017 $(24,424.13)
1/31/2018 $(20,454.43)
2/28/2018 $(18,221.63)
3/31/2018 $(14,916.69)
4/30/2018 $(9,800.88)
5/31/2018 $(7,375.85)
6/30/2018 $(5,735.59)
7/31/2018 $(7,109.58)
8/31/2018 $(6,439.93)
9/30/2018 $(2,990.84)
10/31/2018 $(4,180.43)
11/30/2018 $(1,495.30)
12/15/2018 $(533.29) +962.01 increase
So close to being worthless ;P I think I should end the year with Positive Net Worth which is super exciting!
Yay @haypug16!!! What a way to celebrate the new year!!
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If it was an accident (not on purpose) you certainly won't have to pay more than the €1500 excess, even if the damage was much worse. That's why you have insurance. So in the very worst case you'll have to pay €1500, which you can afford because you have an EF. You really shouldn't worry about losing all the money you have. But I'm sure everyone has told you that already. I hope the insurance companies handle this claim very fast so you can put this behind you!
Well, the first email from the rental company arrived and apparently the rental agreement I signed stipulated that I would pay the excess plus any additional charges arising. And they are calculating those additional charges at 1,725 and will be debiting my card a total of 3,275. See, I don't want to be cynical and a scaredy-cat but it feels like insurance scare stories are not just stories. FML.
I have replied asking for an explanation of the costs and explaining that I was only asked when getting the car if I was happy with the excess and no mention was made of additional costs but I am really not confident that I can do anything. Presumably there is something in the small print explaining why I am liable for those charges.
Sorry this happened, but it really is just a bump in the road, even with the new wrinkle. Fighting back will cost you nothing but a little time, so push back strongly. You have nothing to lose. It's good practice, no matter what the outcome.
Second Dicey's remark! You already know the worst (€ 3,275) and you can only win by pushing back. You got this! Go Moonwaves! Yay!
If necessary, see if you can get free legal advice somewhere (we can get it for free through the union we're members of) because as a consumer you are very well protected under European/German law. Car rental companies are evil and try to get away with a lot of things that are not legal. Sending a firmly worded letter usually solves the problem in that case.
-
If it was an accident (not on purpose) you certainly won't have to pay more than the €1500 excess, even if the damage was much worse. That's why you have insurance. So in the very worst case you'll have to pay €1500, which you can afford because you have an EF. You really shouldn't worry about losing all the money you have. But I'm sure everyone has told you that already. I hope the insurance companies handle this claim very fast so you can put this behind you!
Well, the first email from the rental company arrived and apparently the rental agreement I signed stipulated that I would pay the excess plus any additional charges arising. And they are calculating those additional charges at 1,725 and will be debiting my card a total of 3,275. See, I don't want to be cynical and a scaredy-cat but it feels like insurance scare stories are not just stories. FML.
I have replied asking for an explanation of the costs and explaining that I was only asked when getting the car if I was happy with the excess and no mention was made of additional costs but I am really not confident that I can do anything. Presumably there is something in the small print explaining why I am liable for those charges.
Sorry this happened, but it really is just a bump in the road, even with the new wrinkle. Fighting back will cost you nothing but a little time, so push back strongly. You have nothing to lose. It's good practice, no matter what the outcome.
Second Dicey's remark! You already know the worst (€ 3,275) and you can only win by pushing back. You got this! Go Moonwaves! Yay!
If necessary, see if you can get free legal advice somewhere (we can get it for free through the union we're members of) because as a consumer you are very well protected under European/German law. Car rental companies are evil and try to get away with a lot of things that are not legal. Sending a firmly worded letter usually solves the problem in that case.
Thanks. I actually have a legal protection insurance policy and I phoned them to make sure it would also cover a solicitor in Ireland and it's worldwide cover so if I need to, I can make use of that. I'm getting a bit frustrated at the company just not getting back to me so starting on Monday, I'll do a week of emailing and phoning (to leave messages - there are no numbers that let you do anything else) every day and I'll see where that gets me.
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Dug a bit deeper into my Super and found a lost (not really, just unknown to me) $20,000... so that was nice O_O brought total net worth up to a little over 9grand, but I intend to stick with this thread until NW minus Super and HECS is 10k (they kind of cancel each other out and since I am still studying the numbers vary so wildly it’s usually easier to calculate without them). The weirdest thing of all is I am slightly annoyed at the random spike in the yellow line of my graph from when I found the error (it was just a delayed upload into the tax system where I had been pulling my numbers from instead of going straight to the source), I think I will go back through and roughly calculate it in monthly or at least tri-monthly batches so there isn’t the big weird jump in the middle (mustachian problem much?). Thought you guys might get a bit of a kick out of that situation and learn from my experience- always go straight to the source! MyGov might be out by a year XD
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@Moonwaves
How did you get on? I hope you've had a positive outcome.
Merry Christmas to everyone on here who helped motivate me this past year. I'm sure I'll be seeing all of you in the next race, soon. :)
-
Savings:
July 31: €2400
August 30: €2000
September 27: €1300
October 30: €1400
November 30: €1600
December 29: €1100
February 1: €1100
February 28: €1300
March 29: €1300
April 30: €800
May 29: €2300
June 28: €3500
July 31: €3250
August 31: €3700
September 30: €2550
October 29: €3500
December 1: €2900
December 30: €2600
Pre-tax investments:
October 29: €96.24
December 1:. €197,68
December 31: €277.92
Post-tax Investments:
July 31: €1985.37
August 30: €2095.00
September 27: €2253
October 30: €2461
November 30: €2622.06
December 29: €2661.50 (didn't do the monthly transfer yet)
February 1: €3021,56
February 29: €3101,58
March 29: €3160,54
April 30: €3439.66
May 29: €3729.27
June 29: €3890.53
July 31: €4106.20
August 31: €4278.05
September 29: €4285.11 (didn't do the monthly transfer yet)
October 29: €4453.30 (did a double transfer this month, but sadly a lot of my gains have been wiped out)
December 1:. €4621,02
December 30: €4371.92
Total:
July 31: €4385.37
August 30: €4095.00
September 27: €3553
October 30: €3861
November 30: €4222.06
December 29: €3761,50 (+ 740 unpaid salary = 4501.50 )
February 1: €4121,60
February 29: €4401,58
March 29: €4460,54
April 30: €4239.66
May 29: €6029.27
June: €7390.53
July 31: €7356.20 ( + €70 on my credit card, so really €7426.20)
August 31: €7978.05
September 29: €6835.11
October 29: €8049.54
December 1: €7718,07
December 30: €7249.84
Goals for 31 December 2018:
Savings: €3000 €5000
Investments: €4500
Total: €7500 €9500
2018 ends a bit mehhh for me :( I had reached most of my goals and set new ones mid-year, but I haven't even reached the original goals now. It hasn't been an easy year for me, but I've made some progress and I'm just going to carry on doing the same thing next year. I just need to remind myself that slow and steady wins the race.
New goals for 31 December 2019:
Savings: 5000
Investments: 10000
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I'd say you have reached your goal, only then shit happened and then you went back a few steps. That's why you have savings, right? And never mind the market, it will bounce back up eventually. You'll get there, you're in a much better position than starting 2018. It'll only get better, be kind to yourself in the meantime.
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November emergency fund: $5247
December emergency fund: $5505 (+$258)
I'm trying to think of something positive to say about life recently, but I don't have much. At least I saved something this month.
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December 2018 Update
3/31/2017 (52,848.85)
4/30/2017 (48,076.67)
5/31/2017 (47,110.22)
6/30/2017 (46,540.28)
7/31/2017 (44,354.10)
8/31/2017 (47,236.39)
9/30/2017 (42,436.10)
10/31/2017 (33,346.78)
11/30/2017 $(28,911.53)
12/31/2017 $(24,424.13)
1/31/2018 $(20,454.43)
2/28/2018 $(18,221.63)
3/31/2018 $(14,916.69)
4/30/2018 $(9,800.88)
5/31/2018 $(7,375.85)
6/30/2018 $(5,735.59)
7/31/2018 $(7,109.58)
8/31/2018 $(6,439.93)
9/30/2018 $(2,990.84)
10/31/2018 $(4,180.43)
11/30/2018 $(1,495.30)
12/31/2018 $(1,524.93) -(29.63) decrease
Even tough my net worth went down from last month I am not feeling too bad about it (just a little) I know that this is all from the market going down. All my other Assets are up and all my Debt is down. I will hit positive Net Worth in 2019 and move on to the race to $100K soon after I'm sure.
Here's to a great 2019!
Edited: I didn't update a couple SL accounts so I was not down as much as I originally thought.
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10/2/18 - $(2742.60)
10/29/18 - $(1899.81)
11/25/18 - $(1660.04)
12/31/18 - $245
SOMEHOW through the magic of Christmas and my Etsy store, I was able to make it to a positive net worth to end 2018!!
However, this will go back negative again as I enter unemployment and search for my next gig. Oh, and in May I'll be adding a few thousand in debt thanks to buying my car at the end of my lease (buying out the lease is actually better than alternatives in this case).
I really hope 2019 is going to be the year I wipe out my student loan debt, and if it's a great year maybe I can max out my IRA too! I'm ready for 2019.
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1/1/2018: $(170,956.12)
2/1/2018: $(166,849.63)
3/1/2018: $(161,395.88)
4/1/2018: $(156,590.44)
5/1/2018: $(152,997.61)
6/1/2018: $(149,175.48)
7/1/2018: $(143,748.22)
8/1/2018: $(138,734.38)
9/1/2018: $(135,043.66)
10/1/2018: $(131,441.14)
11/1/2018: $(133,372.50)
12/1/2018: $(128,081.25)
1/1/2019: $(79,600.19)
Well, I knew a large bonus was coming (it's how my firm structures compensation), but this was...larger than I expected. I am hugely grateful, especially since (after pulling a bit from my emergency fund, which I'll replenish soon) it was just enough to pay off the worst portion of my student loans. That had really been weighing on me and I am so happy to have it gone.
So, in 2018, I increased my assets by $27,757.87 and decreased my debt by $63,598.06. Barring a major disaster, like job loss, or any unexpected windfalls that accelerate my progress, I should graduate from this thread upon receipt of my bonus at the end of 2019. Can't wait! Mostly, at this time next year, I hope to be in a financial position that gives me more freedom in terms of career options. I know I am very fortunate to have such a high-paying job, but it also makes me highly anxious most of the time and I know I can't do it for long, for personal health and happiness reasons. So I would like to get my debt down to a level where I feel able to shift into a lower-paying job, if necessary, within the next year or two.
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1/1/2018: $(170,956.12)
2/1/2018: $(166,849.63)
3/1/2018: $(161,395.88)
4/1/2018: $(156,590.44)
5/1/2018: $(152,997.61)
6/1/2018: $(149,175.48)
7/1/2018: $(143,748.22)
8/1/2018: $(138,734.38)
9/1/2018: $(135,043.66)
10/1/2018: $(131,441.14)
11/1/2018: $(133,372.50)
12/1/2018: $(128,081.25)
1/1/2018: $(79,600.19)
Well, I knew a large bonus was coming (it's how my firm structures compensation), but this was...larger than I expected. I am hugely grateful, especially since (after pulling a bit from my emergency fund, which I'll replenish soon) it was just enough to pay off the worst portion of my student loans. That had really been weighing on me and I am so happy to have it gone.
So, in 2018, I increased my assets by $27,757.87 and decreased my debt by $63,598.06. Barring a major disaster, like job loss, or any unexpected windfalls that accelerate my progress, I should graduate from this thread upon receipt of my bonus at the end of 2019. Can't wait! Mostly, at this time next year, I hope to be in a financial position that gives me more freedom in terms of career options. I know I am very fortunate to have such a high-paying job, but it also makes me highly anxious most of the time and I know I can't do it for long, for personal health and happiness reasons. So I would like to get my debt down to a level where I feel able to shift into a lower-paying job, if necessary, within the next year or two.
Huge congratulations @mckaylabaloney!! Wow what a great way to start the new year! That must feel fantastic to blow into the five digits so fast!
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Great news, @mckaylabaloney ! You've made great progress in 2018 and I'm sure you'll do the same in 2019. It will be such a relief when that big debt is gone.
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@Moonwaves
How did you get on? I hope you've had a positive outcome.
Well, I at least managed to get a reply from them outlining the parts of the small print that covers all of those charges. Still no sign of a copy of the signed rental agreement (I think there was a bit of a mix-up when I went back to them and I only have a copy of an unsigned agreement now - also realising now how much in shock I was for a week or two after the accident, which is how that mix-up happened, I think), no sign of the copy of the police report, and no sign of an invoice. I need those last two in order to at least claim the excess from my insurance policy. I spoke to my credit card company today and can still dispute those charges so have emailed yet again and requested the documents yet again while pointing out that if they don't send them soon (I put a deadline in the email), I will have the charges entered into dispute as they were not authorised to take anything other than the excess. Their first email says that I agreed to the charges in the rental agreement but while it is in the small print, I still don't have a copy of what I actually signed so I think it's not entirely unfair to call them unauthorised charges. The credit card company confirmed that the absence of a proper invoice is enough to place the charges into the dispute system. So we'll see. Thanks for asking.
I have, however, decided to go the non-logical, non-mathematically sound route and not pay off the credit card in full straightaway. I've been circling very close to a horrible downward spiral of depression since it happened and just cannot face wiping out my savings. I also spent money on flying back to Ireland over the holidays as I was very down the whole weekend before the last week of work before christmas and strongly felt it would be a very bad idea to be at home on my own for 10 days. I've honestly never felt quite like that before and hope I can someday claim to have never felt like that again but for now, I've swallowed the cost in money because the value gained in mental health was far greater.
So, to start off 2019, money looks like this:
BoI savings a/c: 100.00
DiBa ETF: 974.94 (despite having paid in 100 since last time I posted, when the value was at 985. Le big sigh. But not really because stocks on sale and all that.)
CmzBank savings a/c: 1,900.00
Total: +2,974.94
CC -2,775.00 - have already paid the first 500 towards the 3,275. As soon as I get the documents I need and the insurance claim goes through I will hopefully have 1,500 to pay off immediately. And I have several outstanding invoices to be paid, as one of my customers got a new system installed which has delayed payments for a couple of months - since I've now started down the route of payment reminders etc., I hope they'll move my stuff to the top of the queue soon. That will give me about 600 to throw at the card and leave me with a smaller amount that I should be able to pay off over two or three months with no problems. The monthly rate on the card is 1.74%.
Net: +199.94 (this doesn't include the 1,200 I currently have in my annual expenses account and around 150 in my travel account)
So there you have it. No facepunches, please, I'm already crying several times a day for no good reason. But yesterday I cooked a healthy meal with stuff I had at home, and today I've had leftovers for lunch and I have a meal plan in place for the next five days that I only need to buy a couple of things for. Positive things and moving forward.
Happy New Year everyone! May 2019 be a good one!
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2018
1/31 : (5949.05)
2/28 : (5288.30)
3/31 : (4273.93)
4/30 : (2592.07)
5/31 : (629.70)
6/30 : 1,206.77
7/31 : 2,703.97
8/31: 5,651.70
9/31: 8,039.01
10/31: 7,803.49
11/30: 9,531.28
12/31/2018: 9,296.79
Yet again the market got me. my retirement accounts dropped by almost 2 grand. Debt fell by almost 1 grand and EF went up by ~$750.
Over the whole year by Net worth has risen ~$15,200. I don't think that is to bad considering I really only started around march. Also I don't make a whole lot of money but I am trying to optimize every penny I have available. Good luck to everyone in the upcoming year.
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@Moonwaves
How did you get on? I hope you've had a positive outcome.
Well, I at least managed to get a reply from them outlining the parts of the small print that covers all of those charges. Still no sign of a copy of the signed rental agreement (I think there was a bit of a mix-up when I went back to them and I only have a copy of an unsigned agreement now - also realising now how much in shock I was for a week or two after the accident, which is how that mix-up happened, I think), no sign of the copy of the police report, and no sign of an invoice. I need those last two in order to at least claim the excess from my insurance policy. I spoke to my credit card company today and can still dispute those charges so have emailed yet again and requested the documents yet again while pointing out that if they don't send them soon (I put a deadline in the email), I will have the charges entered into dispute as they were not authorised to take anything other than the excess. Their first email says that I agreed to the charges in the rental agreement but while it is in the small print, I still don't have a copy of what I actually signed so I think it's not entirely unfair to call them unauthorised charges. The credit card company confirmed that the absence of a proper invoice is enough to place the charges into the dispute system. So we'll see. Thanks for asking.
I have, however, decided to go the non-logical, non-mathematically sound route and not pay off the credit card in full straightaway. I've been circling very close to a horrible downward spiral of depression since it happened and just cannot face wiping out my savings. I also spent money on flying back to Ireland over the holidays as I was very down the whole weekend before the last week of work before christmas and strongly felt it would be a very bad idea to be at home on my own for 10 days. I've honestly never felt quite like that before and hope I can someday claim to have never felt like that again but for now, I've swallowed the cost in money because the value gained in mental health was far greater.
So, to start off 2019, money looks like this:
BoI savings a/c: 100.00
DiBa ETF: 974.94 (despite having paid in 100 since last time I posted, when the value was at 985. Le big sigh. But not really because stocks on sale and all that.)
CmzBank savings a/c: 1,900.00
Total: +2,974.94
CC -2,775.00 - have already paid the first 500 towards the 3,275. As soon as I get the documents I need and the insurance claim goes through I will hopefully have 1,500 to pay off immediately. And I have several outstanding invoices to be paid, as one of my customers got a new system installed which has delayed payments for a couple of months - since I've now started down the route of payment reminders etc., I hope they'll move my stuff to the top of the queue soon. That will give me about 600 to throw at the card and leave me with a smaller amount that I should be able to pay off over two or three months with no problems. The monthly rate on the card is 1.74%.
Net: +199.94 (this doesn't include the 1,200 I currently have in my annual expenses account and around 150 in my travel account)
So there you have it. No facepunches, please, I'm already crying several times a day for no good reason. But yesterday I cooked a healthy meal with stuff I had at home, and today I've had leftovers for lunch and I have a meal plan in place for the next five days that I only need to buy a couple of things for. Positive things and moving forward.
Happy New Year everyone! May 2019 be a good one!
Sorry you're struggling. Money gives you options. I'm glad you gave yourself the gift of good self-care when it was important.
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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)
1/31/2018 $(20,454.43)
2/28/2018 $(18,221.63)
3/31/2018 $(14,916.69)
4/30/2018 $(9,800.88)
5/31/2018 $(7,375.85)
6/30/2018 $(5,735.59)
7/31/2018 $(7,109.58)
8/31/2018 $(6,439.93)
9/30/2018 $(2,990.84)
10/31/2018 $(4,180.43)
11/30/2018 $(1,495.30)
12/31/2018 $(1,524.93)
1/15/2019 $(1,150.13) +$374.80 increase
A very small increase but that's OK I'm getting closer and closer to the other side of zero! The big reason for not having a higher number during the first half of this month is that my cat got very sick and in an effort to figure out if there was something that could be done to make her better or if it was time to put her down I incurred about $1K in vet costs and we did end up putting her down but I don't regret spending the money to try and get her better. The good news of the month is that it seems my investments are starting to slowly turn around and head back up which is great. I still expect to hit zero by the end of this month and $10K by the spring.
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January mid-month Update
1/15/2019 $(1,150.13) +$374.80 increase
Awesome progress Haypug! You'll have compounding working for you instead of against you in no time!
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So sorry about your cat , @haypug16. :(
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This is an awesome thread reading all 23 pages was inspiring. Here is to jumping in for the year 2019. Need some where to keep me accountable for building those savings up after finally climbing out of credit card debt.
1/15/2019 total savings $1910.47
Congrats to all for there progress so far.
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Oh, I'm so sorry to hear about your cat, @haypug16. I spent a lot of money on my dog at the end of her life. We do what we need to do for our animals. <3
Speaking of, my number won't be good this month either. The lizard came with me after my ex and broke up. It was originally his kid's, but I was the one who cared for and loved the lizard through the years. So she's mine now. And she has some sort of infection and I had to take her to the vet and have tests done and now I'm giving her meds. (Orally and injections!) The whole thing has totaled around $400. Dang. But she's my buddy and I love her. I'm hoping we still have many summer mornings sitting in the sunshine on the deck together.
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Thanks, she was a wonderful cat and Mr Pug and I miss her a lot.
I hope your lizard makes a speedy recovery.
jdhansen, Welcome to one of the best threads around :)
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Speaking of, my number won't be good this month either. The lizard came with me after my ex and broke up. It was originally his kid's, but I was the one who cared for and loved the lizard through the years. So she's mine now. And she has some sort of infection and I had to take her to the vet and have tests done and now I'm giving her meds. (Orally and injections!) The whole thing has totaled around $400. Dang. But she's my buddy and I love her. I'm hoping we still have many summer mornings sitting in the sunshine on the deck together.
Another lizard owner! I have 4, and one snake. :P
My beardie cost me almost as much one vet visit, only for me to find out he was just being a diva (he refused to poop for a month). I'm glad to hear you took her to the vet! It's sad when people think that just because they're small/"inexpensive" that they don't deserve vet visits. Hope she recovers fast!
So sorry to hear about your cat @haypug16 - my dog is getting up there and I am not looking forward to the day I have to say goodbye. :(
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@jdhansen welcome!
What this thread shows, is that you don't need to be rich or FI to be able to give yourself a better life. The stories in this thread show the radical impact of just a few thousand in savings, which is something most people are able to achieve if they put in the effort.
A few thousand means being able to give your pet the right end of life care. It means being able to change jobs and not having to worry about a new payment schedule. It means being able to replace or repair broken items without getting into debt. It means being able to go back to school for a degree to increase your earning capacity.
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Another lizard owner! I have 4, and one snake. :P
My beardie cost me almost as much one vet visit, only for me to find out he was just being a diva (he refused to poop for a month). I'm glad to hear you took her to the vet! It's sad when people think that just because they're small/"inexpensive" that they don't deserve vet visits. Hope she recovers fast!
Thank you! I have a beardie too! She has some sort of fungal infection - I just got word yesterday that it's not yellow fungus. Still waiting on test results. I'm not sure if other fungal stuff is as deadly as yellow or not. Along with the expensive vet visit, I picked up some hornworms for her. A peace offering after all those meds! Haha.
I was surprised by how attached to her I got. I never thought I would have a lizard as a pet, but honestly she's been the perfect pet for me during this time in my life. My dog was SO high maintenance (and expensive!) through her entire life and I'm completely burnt out and exhausted. I can't wait for summer to get here so my lizard girl and I can sit outside in the sunshine in the mornings. I drink coffee and she soaks up the natural UVs on my lap. It's my favorite.
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... no sign of the copy of the police report, and no sign of an invoice. I need those last two in order to at least claim the excess from my insurance policy. I spoke to my credit card company today and can still dispute those charges so have emailed yet again and requested the documents yet again while pointing out that if they don't send them soon (I put a deadline in the email), I will have the charges entered into dispute as they were not authorised to take anything other than the excess.
Well isn't is astonishing how the threat of not getting paid all of a sudden makes people take notice. The invoice arrived promptly. Still no police report but the rental company claim to not have a copy of it (normally individuals just get it passed on from the insurance company). I was set to just pay the €60 myself (after a bit of a frantic search for a chequebook, as cheque is the only way to pay the gardaí* - I found one that was sent to an address I haven't lived at for thirteen years, which gives you an idea how long it has been since I have needed to use a cheque). But it all became moot as insurance4carhire processed my claim without it and a day later the payment of 1,500, which was due to arrive "within ten days" was in my account. I have to say, insurance4carhire have been great through this whole thing.
*That's the Irish police - gardaí síochana (literally translates to guardians of the peace)
So, to start off 2019, money looks like this:
BoI savings a/c: 100.00
DiBa ETF: 974.94 (despite having paid in 100 since last time I posted, when the value was at 985. Le big sigh. But not really because stocks on sale and all that.)
CmzBank savings a/c: 1,900.00
Total: +2,974.94
CC -2,775.00 - have already paid the first 500 towards the 3,275. As soon as I get the documents I need and the insurance claim goes through I will hopefully have 1,500 to pay off immediately. And I have several outstanding invoices to be paid, as one of my customers got a new system installed which has delayed payments for a couple of months - since I've now started down the route of payment reminders etc., I hope they'll move my stuff to the top of the queue soon. That will give me about 600 to throw at the card and leave me with a smaller amount that I should be able to pay off over two or three months with no problems. The monthly rate on the card is 1.74%.
Net: +199.94 (this doesn't include the 1,200 I currently have in my annual expenses account and around 150 in my travel account)
So, money situation currently looks like this:
BoI savings a/c: 100.00
DiBa ETF: 1,079.83
CmzBank savings a/c: 2,000.05
Total: +3,179.88
CC -1,275.00
Net: +1,904.88 (not including savings for annual expenses and travel)
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Congrats on getting the 1500 euros @Moonwaves -- One step closer to putting that whole thing behind you. :)
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Reporting in. As we are self-employed, our income varies monthly making it very difficult to plan too far ahead. However, it was a pretty awesome December meaning the starting point of our savings is considerably higher than expected! I have opened our first Vanguard ISA account (tax-free savings UK) and split between that and a savings account for an Emergency Fund starter.
January 2019 - £1,300
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Reporting in:
As a first year College student at 19 who hasn't held a job I am at a disadvantage,but hey you have to start some where. I plan to get a job this semester and over the summer, to help save up for tuition.
A considerable amount of Student debt will fall upon me this semester, 8K. (2.5k @ 9% and 5.5k at 6.8%) But being a Material Science and Engineering major I suspect in my first two years working I will pay off all my student debt. Parents are assisting with a considerable college fund, but know enough that I should have ownership of my education. (Which I will happily take as debt is a huge motivator)
My current goal is to save 10k to help assist with my tuition expenses next year, mitigate the need to take out loans. I also want to invest a portion of my income for my investments mostly indexes.
Current numbers:
Retirement Schwab account: 3.6k split between the low fee SWTSX, SWHFX, SWSSX. And also dividend paying T
(most to all gift money I receive goes in here, the gift that keeps on giving)
Savings: $814 embarrassingly low, however I would rather have more in investments. When i get a job I would like to figure out a healthy ratio of investing to savings cause knowing me I would like 75/25 or something extreme like that.
What would you recommend doing?
Rn I am thinking about mostly focusing on saving, putting away maybe 15-20%. The thought would be to mitigate the need to take out further loans.
The other thought is not to worry about the loans since it will be likely I can pay them off in the first two years of work post graduation. However still build a nice savings buffer 10k or so but do something more like 50/50 investments and savings.
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@redwood_canyon even though I applaud on you for investing money so early on, I'd probably recommend to put more into savings to get yourself a solid emergency fund; let's say 3x monthly expenses or anything that can cover an 'emergency', whatever level of emergency you may expect. Besides that, taking on student loans at 9% is quite a high interest rate, so it might make sense to use your earnings for avoiding the 9% loans rather than investing/saving them. I'm not in the USA though, so not sure if your retirement account has other benefits (e.g. tax) that might make it a better ROI compared to paying down/avoiding loans.
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I agree with Hirondelle. I would target an EF of around $1000 for small emergencies that can happen to anyone, then start to use the money to pay for college expenses instead of taking out loans. The general rule of thumb is to pay off debts asap if the interest is more than 4-5%.
9% is also a very high interest percentage, is there any specific reason why the interest is so high? Is there anything you can do about that?
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Welcome @redwood_canyon! Good advice above. You should square away your emergency fund first. As a full time student you may not need all that much more. Think of your worst case scenarios where an expense could hit you and your parents would/could not help, and plan accordingly.
See the Investment Order thread by MDM. https://forum.mrmoneymustache.com/investor-alley/investment-order/msg1333153/#msg1333153. It's way more information than you need right now, but if you skim it you'll have a general sense of the big picture investing 'game plan' in the US.
In your situation (college student) the steps about paying off existing debts (Steps 2 and 7) would also apply to taking on more debt. So for example, after your EF is funded and you are then faced with a choice of (a) taking out a loan at 8% to pay tuition or (b) paying cash, you would pay the cash. Note that that decision depends on the interest rate of the loan. Step 2 is the higher rate loans, and Step 7 is the lower rate loans.
Good for you for tackling these issues now!
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Welcome @redwood_canyon! Good advice above. You should square away your emergency fund first. As a full time student you may not need all that much more. Think of your worst case scenarios where an expense could hit you and your parents would/could not help, and plan accordingly.
See the Investment Order thread by MDM. https://forum.mrmoneymustache.com/investor-alley/investment-order/msg1333153/#msg1333153. It's way more information than you need right now, but if you skim it you'll have a general sense of the big picture investing 'game plan' in the US.
In your situation (college student) the steps about paying off existing debts (Steps 2 and 7) would also apply to taking on more debt. So for example, after your EF is funded and you are then faced with a choice of (a) taking out a loan at 8% to pay tuition or (b) paying cash, you would pay the cash. Note that that decision depends on the interest rate of the loan. Step 2 is the higher rate loans, and Step 7 is the lower rate loans.
Good for you for tackling these issues now!
Thank you very much for your valuable advice. After reevaluating I am thinking of building a 2k emergency fund by the end of this year, as well a saving as much as I can for expenses.
Thank you for the guidance to a relevant thread, I will be sure to look at that and use it to my advantage. Better to have more info now than lack it. And you are very correct paying cash would be the best option. I have to see if I can pay off my 2.5k loan @ 9% this or next year. The other is a federal Student loan, but I will see to it that I tackle that head on as well. Thank you again for your help! -Nathan Gay
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I agree with Hirondelle. I would target an EF of around $1000 for small emergencies that can happen to anyone, then start to use the money to pay for college expenses instead of taking out loans. The general rule of thumb is to pay off debts asap if the interest is more than 4-5%.
9% is also a very high interest percentage, is there any specific reason why the interest is so high? Is there anything you can do about that?
The 9% is a private loan I took out, I agree it is really high. The company actually advertised the loan as being low but dependent on the cosigners credit. For this semester I needed $8k in loans, and since I don't qualify for much assistance, the school could only offer me the 5.5k in federal loans that it offers everyone. The most I can do is save up to pay cash for my student expenses and pay off that loan in the next year or so, if they let me.
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My second credit card bill arrived yesterday and I remember (a) that the way interest is calculated means it's always more than I think it is going to be* and (b) how stressful it is to have an outstanding balance. So, I have raided my annual expenses and travel fund, and taken 280 from my "business" account** and just sent the money to clear the credit card bill. By Friday I should be back to debt-free status. Not having money in my sinking funds accounts is stressful (although I left 50 in each, just to have something there), but not as stressful as getting a credit card bill with interest on it was. Talk about a ten-year challenge! This is so different from the many, many years that I used my card up to the limit and just paid enough off every month so that the new interest wouldn't send me over my limit.
In car accident saga news, in case anyone is interested, I received a letter from the agents acting on behalf of the rental company that owned the car I hit asking me to phone them to discuss the events. What they've written in their letter is honestly not what I thought had happened (although it's not impossible it happened that way either) and I freaked out a bit when I got it. I've now contacted the company I rented from to see what they recommend (if it was my own car I wouldn't talk to them without contacting my insurance company first, so this is the closest I've got to that) and will wait to see what they say. But my reaction to that letter, after I thought I was starting to actually do pretty well again, has convinced me I need to get help. I've also started freezing up when I'm on the bus and we stop suddenly (I never noticed before how often that happens) and having some problems sleeping. So, heading to the doctor tomorrow to ask for a referral to a psychologist. And then tomorrow afternoon I'll go and donate blood. Normal life has to keep on keeping on one way or the other. :)
* Also, it's been a good few years now since I've paid interest on a credit card and I think I had blocked all of that out a bit.
** This is just a separate savings account for my side-gig income - when I get paid, I transfer part of the money (i.e. the VAT portion of every invoice and 30% of the net to cover income taxes) to that account. Early last year I started transferring 40% most of the time so that I was building up some extra to cover things like replacing my laptop when necessary. So there was some leeway to take a bit of money from that account.
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Financially you're doing really well. Keep on cracking on and you'll be in a much stronger position SOON.
Mentally you need to get your head right. Seeking a psychologist is important, at least that way you won't bottle it up which could exasperate the issue. If you want to vent to a random stranger on the internet, with no judgement attached, feel free to pm me. I'm in no way qualified to help, but will offer my limited advice if you feel it would help.
My brother had a serious car accident which he was lucky to walk away from. The first few months he suffered from PTSD-like symptoms. The good news is that in his case time seems to heal all wounds.
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Hope you've been getting the help that you need Moonwaves! And I van totally imagine having credit card debt stressed you out. Good to hear you've paid that off. Being able to sleep at night is the most important thing. You'll have more savings again soon, I'm sure.
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Savings:
July 31: €2400
August 30: €2000
September 27: €1300
October 30: €1400
November 30: €1600
December 29: €1100
February 1: €1100
February 28: €1300
March 29: €1300
April 30: €800
May 29: €2300
June 28: €3500
July 31: €3250
August 31: €3700
September 30: €2550
October 29: €3500
December 1: €2900
December 30: €2600
January 28:. €2850
Pre-tax investments:
October 29: €96.24
December 1:. €197,68
December 31: €277.92
January 28:. €395,50
Post-tax Investments:
July 31: €1985.37
August 30: €2095.00
September 27: €2253
October 30: €2461
November 30: €2622.06
December 29: €2661.50 (didn't do the monthly transfer yet)
February 1: €3021,56
February 29: €3101,58
March 29: €3160,54
April 30: €3439.66
May 29: €3729.27
June 29: €3890.53
July 31: €4106.20
August 31: €4278.05
September 29: €4285.11 (didn't do the monthly transfer yet)
October 29: €4453.30 (did a double transfer this month, but sadly a lot of my gains have been wiped out)
December 1:. €4621,02
December 30: €4371.92
January 28:. €5039,38
Total:
July 31: €4385.37
August 30: €4095.00
September 27: €3553
October 30: €3861
November 30: €4222.06
December 29: €3761,50 (+ 740 unpaid salary = 4501.50 )
February 1: €4121,60
February 29: €4401,58
March 29: €4460,54
April 30: €4239.66
May 29: €6029.27
June: €7390.53
July 31: €7356.20 ( + €70 on my credit card, so really €7426.20)
August 31: €7978.05
September 29: €6835.11
October 29: €8049.54
December 1: €7718,07
December 30: €7249.84
January 28: €8284,88
New goals for 31 December 2019:
Savings: 5000
Investments: 10000
The market helped a lot this month, but I'm also preparing for some exams so I'm not going anywhere except work and the grocery store to get food and chocolate.
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Hi guys,
I am Bob and I am new to this place. As I calculated a few minutes ago, I graduated from the race to positive thread.
I would like to start the year with a net worth of 261€ and stay with you for most of 2019 :-)
Notable positions:
Debt 10,268€ at very low interest (leftover student debt and full-pay credit card)
Investments and cash 8,429€
Car 2,100€
Total January: 261€
Next goal: Building up EF to 3k and have more investments and cash than credit
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Welcome Bob!
I'm super exicted to post my end of January numbers. Spoiler alert they won't have () around them :)
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Wow @haypug16 ! I'm so happy for you and I haven't even seen the numbers yet.
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Bob and Haypug you both rock! Crossing the zero is huge. Well done!
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@haypug16 tell us the magic numbers :-D @Trifele and @Imma you guys are top motivators!
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Have to wait till tomorrow when I actually get paid. Soon though ... soon :)
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Have to wait till tomorrow when I actually get paid. Soon though ... soon :)
(https://i.kym-cdn.com/entries/icons/mobile/000/005/673/sooon.jpg)
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Jan. 30, 2019: $2,973.81
I'll update it monthly and see how it goes.
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January 2019 Update
3/31/2017 (52,848.85)
4/30/2017 (48,076.67)
5/31/2017 (47,110.22)
6/30/2017 (46,540.28)
7/31/2017 (44,354.10)
8/31/2017 (47,236.39)
9/30/2017 (42,436.10)
10/31/2017 (33,346.78)
11/30/2017 $(28,911.53)
12/31/2017 $(24,424.13)
1/31/2018 $(20,454.43)
2/28/2018 $(18,221.63)
3/31/2018 $(14,916.69)
4/30/2018 $(9,800.88)
5/31/2018 $(7,375.85)
6/30/2018 $(5,735.59)
7/31/2018 $(7,109.58)
8/31/2018 $(6,439.93)
9/30/2018 $(2,990.84)
10/31/2018 $(4,180.43)
11/30/2018 $(1,495.30)
12/31/2018 $(1,524.93)
1/31/2019 $1,935.70 +$3,460.63 Increase <---- see that right there? That's a positive number!!!!!
I expect to finish this race in the next 3 months or so. It feels really great to not have any more parenthesis around my numbers :) The market helped me out a good amount this month I assumed I was going to be positive but didn't know by how much.
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Congrats @haypug16 !!! That's amazing and you make such big jumps from month to month!
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WOW! haypug16 that is amazing. Great work. I hope that every month is like this last one from now on! My numbers are going to be great as well.
Welcome @wild forest. Looks like you are starting in a great position as it is. Well done.
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yay @haypug16 !!! I'm so happy for you!
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RAaaahhhh!!! [cheering wildly from the sideline]
Go Haypug Go!!!!!!! Huge congratulations!!!!
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Woo hoo!!! Big congrats on being in the black, @haypug16! You've come so far so quickly!
And welcome to the club, @wild forest!
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December emergency fund: $5505 (+$258)
January emergency fund: $5515 (+$10)
That $10 is just interest. I did not save anything toward my poor e-fund in January. But I didn't take anything out either! I had a lot of big expenses this month - $700 worth of car maintenance, $400 for the vet/lizard care, and a plane ticket. I got paid 3x this month, but all that absorbed my entire extra paycheck and then some. Such is life.
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I just graduated to this thread from the Race to Positive Net Worth.
Net worth January 2017 was -$57,500.
Today it is $500!
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2018
1/31 : (5949.05)
2/28 : (5288.30)
3/31 : (4273.93)
4/30 : (2592.07)
5/31 : (629.70)
6/30 : 1,206.77
7/31 : 2,703.97
8/31: 5,651.70
9/31: 8,039.01
10/31: 7,803.49
11/30: 9,531.28
12/31: 9,296.79
2019
1/31/19: 13,493.35
I was expecting to graduate this thread here this month but I really was not thinking it was going to be by this much! markets were great to me this month. I put in almost 1,200 into retirement. market change added an additional ~2,300. and my debts went down their steady $750.
Good Luck to everyone on your journey. I will be reading and keeping up just like it do now.
@Optimiser welcome to this thread. It is one of the best in my opinion on the whole forum!
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I just graduated to this thread from the Race to Positive Net Worth.
Net worth January 2017 was -$57,500.
Today it is $500!
Welcome! We have pretty similar timelines :)
@Optimiser welcome to this thread. It is one of the best in my opinion on the whole forum!
+1 this is one of my favorite threads here.
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1/1/2018: $(170,956.12)
2/1/2018: $(166,849.63)
3/1/2018: $(161,395.88)
4/1/2018: $(156,590.44)
5/1/2018: $(152,997.61)
6/1/2018: $(149,175.48)
7/1/2018: $(143,748.22)
8/1/2018: $(138,734.38)
9/1/2018: $(135,043.66)
10/1/2018: $(131,441.14)
11/1/2018: $(133,372.50)
12/1/2018: $(128,081.25)
1/1/2019: $(80,750.78)
2/1/2019: $(73,422.02)
Wow, big boost from the markets this month. My 401k still has negative total returns (I started it in December 2017...lol yikes), but everything is finally moving in the right direction again. (...for now?) I know that downturns are also good (at least in some ways) at the beginning of my investing life, but it just feels good to see my accounts getting bigger instead of smaller, you know?
I crunched some numbers this week and am shifting my strategy a little this year (at least for now), because I'm thinking very seriously about moving back to my hometown at the beginning of next year. The market there is such that buying would almost certainly be a much, much better choice than renting, and there are tons of fixer uppers to be snapped up (even the houses that have already been flipped are often incredibly inexpensive). And I have close family members in that area who have flipped houses and would help me do most of the work very cheaply. So: instead of paying down my loans more aggressively this year, I'm paying the minimum and saving my extra money in a house fund. Between my savings from my regular paychecks and my year-end bonus, I hope to have enough to buy a cheap house and pay for renovations without taking on additional debt beyond a small mortgage. If I don't end up moving, or I decide not to buy a house, or I do move but just buy a house that's already been flipped (which would likely require less cash up front than a renovation would), I'll just dump all that cash into my loans instead. I will pay a little more on interest this way, and my progress will be a little slower as a result, but I'm willing to do that to leave this option open for myself.
Way to go @bcbaseballman !
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Thought I was going to be “worthless” by Feb 14th, turns out I will just be “debtless” because *drumroll* I’m already worthless!!! Woohoo!!! This pay just gone pushed me over into the positive net worth category and I am exciteyd! Plus, I finally got to colour in my mountain and cross out the additional interest I didn’t need to pay due to paying the loan off two years early. Bonus: I called the bank to close the account and requested information about a refund of the balance of the loan insurance I took, a week later I got a check for $200 in the mail, pretty chuffed that I remembered to remind them I was owed a refund
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Congrats @Yasha ! I love seeing those squares get filled in.
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So much good news! Congratulations to everyone on their achievements!
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End of January 2019 Update
1/15/2019 total savings $1910.47
1/31/2019 total savings $2433.19
Now I can get onto the monthly cycle a bit better. Looks like my families new budget for the year is working as intended so far.
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I have been reading through this thread over the past few days, and the interactions between everyone here warms my heart! I currently have a negative net worth due to student loans (graduated in June 2018), but I will likely be joining this thread by the end of 2019 or early 2020. In the meantime I look forward to watching the progress of everyone here!
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I have been reading through this thread over the past few days, and the interactions between everyone here warms my heart! I currently have a negative net worth due to student loans (graduated in June 2018), but I will likely be joining this thread by the end of 2019 or early 2020. In the meantime I look forward to watching the progress of everyone here!
You're welcome to join this thread even if you have a negative net worth! Don't know if you noticed above, but I am uhhhhh extremely in the hole :)
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You're welcome to join this thread even if you have a negative net worth! Don't know if you noticed above, but I am uhhhhh extremely in the hole :)
Yeah, but you're speeding through that debt!!! You'll surpass those of us in the black before you know it!
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So many good news in this thread! Congrats @bcbaseballman, hope to see you soon in the next thread :) Welcome to all the new people.
@Yasha: I really love seeing everything coloured in! And great that you didn't forget about the money they owed you. I'm sure that's something people forget to ask for all the time.
@LittleWanderer : sometimes staying where you are is an achievement in itself. You had a few unexpected big bills this month and you were able to cashflow them without even touching the EF. How many people do you know that could cashflow more than $1000 in extra costs on top of the regular bills, without even batting an eyelid? This is normal to us MMM folks but most of the people I know irl would be in trouble.
@mckaylabaloney Just noticed you paid off 100k in a year :o :o You are making an insane amount of progress. Home ownership is not for everyone and you'll find mixed opinions about it on the forum, but personally I love being a homeowner. I love being able to truly call my house my own, I love not being dependent on shady landlords and in our case it's also financially a much better decision. I would personally not go back to my hometown, but I can understand the idea, especially if you still have lots of people living there. Even if you're not sure at all yet it's a good idea to keep the money available until you're certain, one way or another.
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Congradulation @Yasha! great feeling to be worthless.
@TyGuy go ahead and join this thread. you don't have to have a positive net worth to be here.
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I have been reading through this thread over the past few days, and the interactions between everyone here warms my heart! I currently have a negative net worth due to student loans (graduated in June 2018), but I will likely be joining this thread by the end of 2019 or early 2020. In the meantime I look forward to watching the progress of everyone here!
You're welcome to join this thread even if you have a negative net worth! Don't know if you noticed above, but I am uhhhhh extremely in the hole :)
+1 I started out negative $52K so feel free to jump in now if you want.
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Thank you all for being so warm and inviting, I am exciting to now be sharing my progress here!
Hopefully paying off my loans by the middle of 2020 (depending on if I land a new job that I am currently interviewing for, and likely near the point of receiving a job offer). Additionally, I will be making a minimum payment of $1000 a month (self-enforced minimum, actual is ~$350) to my student loans, adding whatever additional funds I have to the principle.
1/12/19:
NGA $3,751.61 @ 3.86%
NGB $811.80 @ 3.86%
NGC $4,779.69 @ 4.66%
NGD $2,397.55 @ 4.66%
NGE $5,814.59 @ 4.29%
NGF $2,271.61 @ 4.29%
NGI $5,520.77 @ 4.45%
H1&2 $18,415 @ 5.00%
Total: ($43,762.76)
2/1/19:
NG Total: 25,145.92 @~4.20% (-$201.70)
H1&2 $17,415.14 @ 5.00% (-$1,000)
Total: ($42.561.06) -$1,201.70
I am currently enrolled in my employer's 401k program, receiving the maximum match. Not included is my 401k form my previous employer and the small amount of money I have invested and my emergency fund. I will try to update this later on in the week to reflect my net worth!
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I haven't visited this thread as much since I "graduated" last year, BUT it looks like I am about to buy a house, which will firmly put me back into this thread. Wayyyy back into it, lol.
So just posting to make sure I'm getting updates and to say Hello Again!
Estimated Net Worth once I close on the house: -$70,000.
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I haven't visited this thread as much since I "graduated" last year, BUT it looks like I am about to buy a house, which will firmly put me back into this thread. Wayyyy back into it, lol.
So just posting to make sure I'm getting updates and to say Hello Again!
Estimated Net Worth once I close on the house: -$70,000.
the market value of the house (minus expenses to sell) should be included in the NW calculation, which means it should have barely any effect on NW.
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I haven't visited this thread as much since I "graduated" last year, BUT it looks like I am about to buy a house, which will firmly put me back into this thread. Wayyyy back into it, lol.
So just posting to make sure I'm getting updates and to say Hello Again!
Estimated Net Worth once I close on the house: -$70,000.
the market value of the house (minus expenses to sell) should be included in the NW calculation, which means it should have barely any effect on NW.
I dunno, I am one of those people who is very very very debt averse, so I consider money I don't have but owe, a negative balance. :::Shrug:::
Regardless, after the Down Payment and Closing Costs I'll be back in the under 10k club.
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Hopefully paying off my loans by the middle of 2020 (depending on if I land a new job that I am currently interviewing for, and likely near the point of receiving a job offer).
Good luck with the job offer!
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February 15 Update
3/31/2017 (52,848.85)
4/30/2017 (48,076.67)
5/31/2017 (47,110.22)
6/30/2017 (46,540.28)
7/31/2017 (44,354.10)
8/31/2017 (47,236.39)
9/30/2017 (42,436.10)
10/31/2017 (33,346.78)
11/30/2017 $(28,911.53)
12/31/2017 $(24,424.13)
1/31/2018 $(20,454.43)
2/28/2018 $(18,221.63)
3/31/2018 $(14,916.69)
4/30/2018 $(9,800.88)
5/31/2018 $(7,375.85)
6/30/2018 $(5,735.59)
7/31/2018 $(7,109.58)
8/31/2018 $(6,439.93)
9/30/2018 $(2,990.84)
10/31/2018 $(4,180.43)
11/30/2018 $(1,495.30)
12/31/2018 $(1,524.93)
1/31/2019 $1,935.70
2/15/2019 $4,624.02 +2,688.32 increase
A very nice mid month increase. Not sure how the second half of the month will be because I'll be on vacation next week but other than that not too much expenses that I can think of. A little over $5k to go to finish this race.
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Going to jump in here, looking to build our EF back up to $10k although I am guessing it'll be slow going.
Feb-15-19: $3216
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Hopefully paying off my loans by the middle of 2020 (depending on if I land a new job that I am currently interviewing for, and likely near the point of receiving a job offer).
Good luck with the job offer!
Thank you, I received a conditional offer yesterday, I just have to jump through the last few hoops and I'll be in!
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I haven't visited this thread as much since I "graduated" last year, BUT it looks like I am about to buy a house, which will firmly put me back into this thread. Wayyyy back into it, lol.
So just posting to make sure I'm getting updates and to say Hello Again!
Estimated Net Worth once I close on the house: -$70,000.
the market value of the house (minus expenses to sell) should be included in the NW calculation, which means it should have barely any effect on NW.
I dunno, I am one of those people who is very very very debt averse, so I consider money I don't have but owe, a negative balance. :::Shrug:::
Regardless, after the Down Payment and Closing Costs I'll be back in the under 10k club.
I agree with DS. I personally only track my investments + emergency fund for the purposes of this thread and similar ones. Many people also include their house value minus mortgage amount. But to include the mortgage without including the house value doesn't make any sense IMO.
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Debt freeeeeeeeeeee~
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Debt freeeeeeeeeeee~
Now that snowball will really pick up speed. Congrats!
Sent from my Pixel 2 XL using Tapatalk
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Debt freeeeeeeeeeee~
Congrats @Yasha!! Fantastic!
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ahhhh so happy for you @Yasha !!
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Hi all!
I don't 100% belong in this thread but hopefully you don't mind me hanging out!
I'm working full-time and paying my way through university at the minute - mature student problems. I'd really like to pay my tuition in cash from now until I graduate. My annual fees are a little under £6k and I took out loans for a little over three quarters of that last year and paid for the rest in cash. I'm hoping to get through to graduation without taking out more loans. I know taking out loans from student finance in the UK is generally viewed a little differently to normal debt but if I can, I'd rather avoid it. I get irritated enough thinking about what I've already taken out!
My next fees are due around September so I need to be done by then. The aim is to save what I can for February and March and then £1300/month after that.
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Hi @dilemma ! You're still welcome here - everyone tracks what they want to track. I don't 100% belong here either. I just track savings and investments, not student loans or home equity.
Like you I'm a mature student. I avoided loans during undergrad, which is good because I learnt to be frugal and without loans I was able to get a mortgage at 24. I went back to grad school this year and chose to get loans this time around. They are about 0% interest and repayment is based on income. When I am done I'll have €10k in loans. As your tuition is so much higher than mine I totally understand why you're not comfortable borrowing so much.
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Yay @Yasha !!
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Hi all,
I've only just started posting here, but I've been keeping my eyes on this thread for a while. It's now time for me to join the good fight. I'm really impressed by how well everyone here has done, the positivity in this thread is incredible.
Here are my numbers for end of January:
Liabilities
- Loans: (£3,876)
- Credit Cards: (£2,182)
- Defaults: (£2,942)
Assets
- Savings: £0
- Investments: £0
Total: (£9,000)
Bit of a funny coincidence that all my liabilities add up to exactly £9,000. I like round numbers, but not negative ones.
I'd love to graduate from this thread before the end of the year with a net worth of £10,000. That's the goal.
I was originally planning to clear debt as quickly as possible, but have since had a change of heart. I'll accept a bit of interest on the credit card and loan in order to get as much money into my new ISA as possible before the financial year ends in early April. Once the deadline for 2018/2019 is past, I'll pay off the credit card to start with, followed by the loan, build an emergency fund, then start adding as much as possible to the ISA allowance for 2019/2020. Although a bit optimistic, I'd love to use up the full £20,000 allowance for the next financial year. This is where I start praying that I get the bonus we were promised from work at some point.
If I can gather £10,000 in savings and investments with some time to spare before the end of the year, I'll look at clearing out the defaults. They're not gathering interest, and I have 3 years to make sure I pay them off, but they're on my mind constantly, so getting rid of that will help my mental state a fair bit.
I get paid in a week, so I'll provide a further update then.
Keep being awesome everyone!
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Hi @FlamingTurtle :)
Glad you came to join us!
FYI, there's quite a few UK posters on here under the UK Tax Discussion header and also under Journals (look for UK in the title).
Happy saving.
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Hi everyone,
I’m brand new here and have been reading for a few days now. After reading all the positivity here I thought this might be the most suitable place for me to jump in!
First, the nasty part: I’ve been in a ridiculous hair-on-fire situation for a very, very long time, which I’ve been tackling for the last two years.
My point of origin in this journey was £46,993 in credit card debt. This has reduced over 24 months to £27,821. My take-home pay is £2750/month, so I’ve been averaging nearly 30% of income going to debt reduction (in reality I started at 20% and worked my way towards 40%, where I’ve been for the last few months). I’ve got there by adopting Mustachian habits without realising that’s what it was - no car (walk/bus to work, which is 6 miles away), no eating out, cooking everything from scratch, repairing clothes and only replacing things when totally unusable and replacement is absolutely necessary, and where possible, selling things I don’t need. The silver lining is that this lifestyle is totally sustainable, and my quality of life has, if anything, improved. I haven't wavered once and am nowadays a very positive person.
I have a good net worth in house equity, however I want to completely ignore that for the purposes of this thread. Where I’m falling down is savings & investments, which I have made practically no progress on whilst so entrenched in emergency mode.
I have a small emergency fund (£400, being build back up following an actual roof emergency), aside from that my current numbers are:
Savings account £135
S&S ISA (newly opened) £100
Premium bonds £25
so I’m starting with an absolutely tiny
£260/£10000 or, of you look at the big picture,
-£27561/£10000
Currently investigating my employer's pension scheme and trying to tweak the numbers more, with a view to joining this asap (it will set back my debt-free date by up to six months), as I'm old enough that I should have a huge cushion behind me now, and other than the house I have nothing.
Whew, that was an essay :) I'm looking forward to keeping up with everyone's progress!
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Hi everyone,
I’m brand new here and have been reading for a few days now. After reading all the positivity here I thought this might be the most suitable place for me to jump in!
First, the nasty part: I’ve been in a ridiculous hair-on-fire situation for a very, very long time, which I’ve been tackling for the last two years.
My point of origin in this journey was £46,993 in credit card debt. This has reduced over 24 months to £27,821. My take-home pay is £2750/month, so I’ve been averaging nearly 30% of income going to debt reduction (in reality I started at 20% and worked my way towards 40%, where I’ve been for the last few months). I’ve got there by adopting Mustachian habits without realising that’s what it was - no car (walk/bus to work, which is 6 miles away), no eating out, cooking everything from scratch, repairing clothes and only replacing things when totally unusable and replacement is absolutely necessary, and where possible, selling things I don’t need. The silver lining is that this lifestyle is totally sustainable, and my quality of life has, if anything, improved. I haven't wavered once and am nowadays a very positive person.
I have a good net worth in house equity, however I want to completely ignore that for the purposes of this thread. Where I’m falling down is savings & investments, which I have made practically no progress on whilst so entrenched in emergency mode.
I have a small emergency fund (£400, being build back up following an actual roof emergency), aside from that my current numbers are:
Savings account £135
S&S ISA (newly opened) £100
Premium bonds £25
so I’m starting with an absolutely tiny
£260/£10000 or, of you look at the big picture,
-£27561/£10000
Currently investigating my employer's pension scheme and trying to tweak the numbers more, with a view to joining this asap (it will set back my debt-free date by up to six months), as I'm old enough that I should have a huge cushion behind me now, and other than the house I have nothing.
Whew, that was an essay :) I'm looking forward to keeping up with everyone's progress!
Depending on interest rates you may very well have been following the optimal strategy, what are the cards at, APR-wise?
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Depending on interest rates you may very well have been following the optimal strategy, what are the cards at, APR-wise?
17k is at 3.9% until late 2021, the rest is at 0% until May 2020.
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In that case I would time it so I don't pay that 0% off any earlier and pay off the 3.9% loan off mostly through minimum payments.
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Ha. I made it into 4 digits!
Few of the budgeted non-monthly costs came up, and the stocks did their thing.
Result is a net increase of 2,040€ to 2,300€!
Feels good to have more cash and investments than debt. It shall stay like this!
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Savings:
July 31: €2400
August 30: €2000
September 27: €1300
October 30: €1400
November 30: €1600
December 29: €1100
February 1: €1100
February 28: €1300
March 29: €1300
April 30: €800
May 29: €2300
June 28: €3500
July 31: €3250
August 31: €3700
September 30: €2550
October 29: €3500
December 1: €2900
December 30: €2600
January 28:. €2850
February 26:. €2500
Pre-tax investments:
October 29: €96.24
December 1:. €197,68
December 31: €277.92
January 28:. €395,50
February 26:. €516,50
Post-tax Investments:
July 31: €1985.37
August 30: €2095.00
September 27: €2253
October 30: €2461
November 30: €2622.06
December 29: €2661.50 (didn't do the monthly transfer yet)
February 1: €3021,56
February 29: €3101,58
March 29: €3160,54
April 30: €3439.66
May 29: €3729.27
June 29: €3890.53
July 31: €4106.20
August 31: €4278.05
September 29: €4285.11 (didn't do the monthly transfer yet)
October 29: €4453.30 (did a double transfer this month, but sadly a lot of my gains have been wiped out)
December 1:. €4621,02
December 30: €4371.92
January 28:. €5039,38
February 26:. €5387,42
Total:
July 31: €4385.37
August 30: €4095.00
September 27: €3553
October 30: €3861
November 30: €4222.06
December 29: €3761,50 (+ 740 unpaid salary = 4501.50 )
February 1: €4121,60
February 29: €4401,58
March 29: €4460,54
April 30: €4239.66
May 29: €6029.27
June: €7390.53
July 31: €7356.20 ( + €70 on my credit card, so really €7426.20)
August 31: €7978.05
September 29: €6835.11
October 29: €8049.54
December 1: €7718,07
December 30: €7249.84
January 28: €8284,88
February 26:. €8403,92
New goals for 31 December 2019:
Savings: 5000
Investments: 10000
Still slowly making progress in the right direction. Paid tuition this month but will be reimbursed next month. Also paid tickets for our summer trip. Had the flu and had to call in sick to work so I missed €300 in income. Not a bad month, not the best month, but getting closer and closer to the goal.
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February 2019 Update
3/31/2017 (52,848.85)
4/30/2017 (48,076.67)
5/31/2017 (47,110.22)
6/30/2017 (46,540.28)
7/31/2017 (44,354.10)
8/31/2017 (47,236.39)
9/30/2017 (42,436.10)
10/31/2017 (33,346.78)
11/30/2017 $(28,911.53)
12/31/2017 $(24,424.13)
1/31/2018 $(20,454.43)
2/28/2018 $(18,221.63)
3/31/2018 $(14,916.69)
4/30/2018 $(9,800.88)
5/31/2018 $(7,375.85)
6/30/2018 $(5,735.59)
7/31/2018 $(7,109.58)
8/31/2018 $(6,439.93)
9/30/2018 $(2,990.84)
10/31/2018 $(4,180.43)
11/30/2018 $(1,495.30)
12/31/2018 $(1,524.93)
1/31/2019 $1,935.70
2/28/2019 $6,935.41 +4,999.71 increase!
I keep double checking this number because it seems crazy high but I believe a large chunk is from the market growth over the past month. Getting super close to finishing this race and moving on to the 10-100K race, only about $3K to go so maybe I'll finish this race next month?!?!
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January emergency fund: $5515
February emergency fund: $6001 (+$486)
I finally broke $6K! Barely. :) But this is the highest ye ol' efund has ever been, so yay!!
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Net worth:
Jan 2019 $500
Feb 2019 $5,000
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1/1/2018: $(170,956.12)
2/1/2018: $(166,849.63)
3/1/2018: $(161,395.88)
4/1/2018: $(156,590.44)
5/1/2018: $(152,997.61)
6/1/2018: $(149,175.48)
7/1/2018: $(143,748.22)
8/1/2018: $(138,734.38)
9/1/2018: $(135,043.66)
10/1/2018: $(131,441.14)
11/1/2018: $(133,372.50)
12/1/2018: $(128,081.25)
1/1/2019: $(80,750.78)
2/1/2019: $(73,422.02)
3/1/2019: $(60,122.64)
Big boost this month from a side hustle of sorts. Feeling very fortunate!
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Net worth:
Jan 2019 $500
Feb 2019 $5,000
If you can keep up the 10x multiplication rate you'll be FI in no time. ;)
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Jan. 30, 2019: $2,973.81
I'll update it monthly and see how it goes.
3-1-2019
$3,776.82
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Welcome to all those who have joined up and huge congratulations to all those who are hitting milestones. Its very motivational to see people succeed.
1/15/2019 total savings $1,910.47
1/31/2019 total savings $2,433.19
2/28/2019 total savings $3,617.17
Progress continues. But I know we have some medical bills incoming later in March. Hopefully the progress is maintained.
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Going to jump in here, looking to build our EF back up to $10k although I am guessing it'll be slow going.
Feb-15-19: $3216
Mar-01-19: $3803
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Great job everyone. I love checking this thread for all the progress updates.
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So, money situation currently looks like this:
BoI savings a/c: 100.00
DiBa ETF: 1,079.83
CmzBank savings a/c: 2,000.05
Total: +3,179.88
CC -1,275.00
Net: +1,904.88 (not including savings for annual expenses and travel)
Back from holidays, where I managed to almost keep to budget (my very scientific budget of using the cash my roommate reimbursed me to cover my spending, that meant 240 for 9 days of meals and drinking and sightseeing, I almost made it but ended up paying to visit a couple of museums that I hadn't really remembered would cost money to visit - well worth it, though.)
BoI savings a/c: 150.00
DiBa ETF: 1,203.38
CmzBank savings a/c: 2,100.00
Total: +3,453.38
CC 00 (paid the final 2.69 today - almost wasn't going to check the statement because I'd paid it off last month so I'm glad I did as they had managed to sneak one last bit of interest in)
Net: +3,453.388 (and about 200 built up again in savings for annual expenses and travel, a bill for 275 has to be paid next month though, which will wipe this out again but I am comforting myself with the fact that this is exactly what these funds are there for, even if I am going to have to "borrow" from travel to pay this annual expense)
I've done a bit of thinking about targets (have a bit of a mental block about "goals" but targets seems to be ok for now) and have upped my emergency fund/moving fund from a goal of 2,000 to 5,000. 2,000 was just a somewhat arbitrary amount I had added to my spreadsheet and now that I'm at 2,100 I had to decide if I was going to just leave it at that or not. 5,000 is enough to cover five-months barebones expenses or to move if I needed to so I've decided to hit that target before anything else. Once I have that, I will start saving to increments of 1,000, which I will then invest. Currently just have the one MSCI World ETF and would like to add one or two other ones (bonds and maybe REIT or something) - that may be something for next year so I should really get around to reading the jcollinsnh stock series (am I the only one who always says that as j collins-ish in their head?) and figure out an actual investment plan.
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Good job @Moonwaves ! If you are renting 5k makes sense. If you have to move you'll need a deposit, first and maybe second month of rent, maybe double rent for a while. That adds up quickly.
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1/1/2018: $(170,956.12)
2/1/2018: $(166,849.63)
3/1/2018: $(161,395.88)
4/1/2018: $(156,590.44)
5/1/2018: $(152,997.61)
6/1/2018: $(149,175.48)
7/1/2018: $(143,748.22)
8/1/2018: $(138,734.38)
9/1/2018: $(135,043.66)
10/1/2018: $(131,441.14)
11/1/2018: $(133,372.50)
12/1/2018: $(128,081.25)
1/1/2019: $(80,750.78)
2/1/2019: $(73,422.02)
3/1/2019: $(60,122.64)
Big boost this month from a side hustle of sorts. Feeling very fortunate!
A few more months like February and you will be onto the next thread!
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Student Loan Debt:
01/12/19: $43,762.76
02/01/19: $42,561.06 (-$1,201.70)
03/04/19: $41,418.69 (-$1,139.41)
Net Worth per Personal Capital:
03/04/19: -$30,065
I will be receiving a large tax refund later this month and will be investing it into an IRA account. Additionally, I am going to be changing my approach a bit and begin contributing less towards my student loans for the next few months as I max out my IRA account for the year. This will be beneficial to me in the long run due to my relatively low interest rates on my student loans, and the tax advantages of IRA accounts. Everyone seems to be doing well, keep up the good work!
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Great job everyone. I love checking this thread for all the progress updates.
Thank you for your continued encouragement, I'm happy to see you are about to move onto the next thread!
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Great job everyone. I love checking this thread for all the progress updates.
Thank you for your continued encouragement, I'm happy to see you are about to move onto the next thread!
Thanks! I'm very excited. I will probably start another race in this thread for something else like Emergency Fund and/or Car Fund.
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I don't want to revisit old posts that I made here but going to start a fresh. Maybe one day I will link them but here we go. I am focusing on paying debt more than increasing my income.
Student loan - (26,503.71)
Car Loan - (1325.77)
Credit card debt - 1413.68
Savings - $50
Checking - $110
401K - 18, 323 (Or something like that)
Goals - Pay off car loan and credit card debt by April. Have a $2000 emergency fund by end of June.
I don't think it will be a good money year for me based on expenses I need to budget for
Insurance due in April - $600
New laptop as my nine year lap top has been acting up in terms of the track pad - (1,000)
Registration for CFA level 2 in june - I did not want to take it this year but ($1200 for materials and exam) If I pass my company reimburses which is good.
Lease ends in June - Need to look for another apartment.
I feel like I haven't made much of a dent in terms of debt payment. So focusing way more on that. I want my student loans gone!
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@Rimu05 that is one fancy laptop for $1k, can you go with a cheaper model and put the difference on debt?
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@Rimu05 that is one fancy laptop for $1k, can you go with a cheaper model and put the difference on debt?
I might even put more than the 1K. I want a laptop that will last me ten years. My lap top has outlasted two of my mom’s laptops which were in the $600 range. In fact, it has outlasted any laptop any of my family members have bought and other than the track pad acting up, it’s still going. In fact, I might just get the trackpad replaced and not buy a new one but if it comes to a new one, going to invest. I have not met anyone with a laptop that was less than $1000 that lasted this long.
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Of course it's a personal choice and a lot depends on what you use it for. My €400-ish laptops have lasted about 5 years each. People have told me to buy Apple as they last much longer but that's still not cost effective for me.
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I got a $700 laptop (with an open-box discount for $650) and I feel it's the perfect balance between cheap and long-lasting. For me at least, an aluminum body really is worth the price over a plastic body, as it makes the computer far sturdier. My roommate who bought a cheaper plastic computer at the same time has had to replace his screen twice in two years. But most other bells and whistles are pointless unless you need it for a specific computationally expensive purpose.
I have a lower-end Lenovo Yoga, for reference. The touchscreen and the 360 degree joints are pointless bells and whistles, but the computers without them that met my needs - aluminum body, decent size keyboard, reasonable battery life - were more expensive, so I have the bells and whistles.
ETA: My $1000 macbook pro lasted 5 years. I could have replaced the battery for $150 and kept using it, but instead I sold it for $250 (on ebay to a refurbisher). This was before I found MMM, but since then I have started biking to work and I REALLY appreciate the pounds I'm not carrying by having a newer, lighter computer. It's also faster, but that's just a bonus.
Anyway, the point is to give a counterexample to the "if I pay $1k it will last longer!" idea. Maybe I could have gotten that mac to 10 years, but not without additional investment. The $650 computer is now several years old and still runs like brand new.
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I don't want to revisit old posts that I made here but going to start a fresh. Maybe one day I will link them but here we go. I am focusing on paying debt more than increasing my income.
Student loan - (26,503.71)
Car Loan - (1325.77)
Credit card debt - 1413.68
Savings - $50
Checking - $110
401K - 18, 323 (Or something like that)
Goals - Pay off car loan and credit card debt by April. Have a $2000 emergency fund by end of June.
I don't think it will be a good money year for me based on expenses I need to budget for
Insurance due in April - $600
New laptop as my nine year lap top has been acting up in terms of the track pad - (1,000)
Registration for CFA level 2 in june - I did not want to take it this year but ($1200 for materials and exam) If I pass my company reimburses which is good.
Lease ends in June - Need to look for another apartment.
I feel like I haven't made much of a dent in terms of debt payment. So focusing way more on that. I want my student loans gone!
Update soon after, but I normally update mid month.
Student loan - (26,503.71)
Credit card debt - 1000 (0% until 2020)
Savings - $400
Checking - $167
401K - 20530.55
Car loan is paid off and that was far more anticlimactic than I expected.
Truly the swahili saying that "Chovya Chovya humaliza buyu la asali" while used as a word of caution actually works for debt. Paying little by little lessens the balance. Literal translation:constant dipping finishes the pot of honey.
Also a great proverb for wasteful spending too.
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10/2/18 - $(2742.60)
10/29/18 - $(1899.81)
11/25/18 - $(1660.04)
12/31/18 - $245
3/14/19 - $(5,212)
I have resurfaced from unemployment, which also came along with a move, which meant security deposit, buying furniture (i lived in a fully furnished Airbnb before) etc, etc. In total I was unemployed for about 2 months. I'm looking at my NW now and I'm not too happy with how much I'm in the hole, but with a GIANT tax return headed my way and a new, higher paying job, I will be back to positive net worth in no time at all! Unfortunately I'll also be unemployed again in a month, but probably only for a short time.
Also not quite sure that this number is accurate, as I only had $6,000 in my EF and still have almost $3k in there right now so my NW should be more like -3k but whatever, I trust my excel formulas and I'll go by them.
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[Snip] I should really get around to reading the jcollinsnh stock series (am I the only one who always says that as j collins-ish in their head?) and figure out an actual investment plan.
It's easier if you know that he's from New Haamsha.
Excellent progress, BTW!
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Mid-March 2019 Update
3/31/2017 (52,848.85)
4/30/2017 (48,076.67)
5/31/2017 (47,110.22)
6/30/2017 (46,540.28)
7/31/2017 (44,354.10)
8/31/2017 (47,236.39)
9/30/2017 (42,436.10)
10/31/2017 (33,346.78)
11/30/2017 $(28,911.53)
12/31/2017 $(24,424.13)
1/31/2018 $(20,454.43)
2/28/2018 $(18,221.63)
3/31/2018 $(14,916.69)
4/30/2018 $(9,800.88)
5/31/2018 $(7,375.85)
6/30/2018 $(5,735.59)
7/31/2018 $(7,109.58)
8/31/2018 $(6,439.93)
9/30/2018 $(2,990.84)
10/31/2018 $(4,180.43)
11/30/2018 $(1,495.30)
12/31/2018 $(1,524.93)
1/31/2019 $1,935.70
2/28/2019 $6,935.41
3/15/2019 $8,055.77 +$1,120.36 increase
About $2K away from finishing :) There is a slight chance I'll finish at the end of this month as I am expecting to get my bonus paid out on 3.31 but we'll see if that actually happens. Even if it doesn't there is a chance I'll finish this race at the end of the month anyway.
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Just 60k worth of progress in one year, nothing to get excited about. ;-)
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Going to jump in here, looking to build our EF back up to $10k although I am guessing it'll be slow going.
Feb-15-19: $3216
Mar-01-19: $3803
Mar-16-19: $5603 Not a bad month for spending at all so far, was able to throw quite a bit into the EF.
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It’s been a little while since I updated, because I wanted to get my new journal tracker juuuuust right before I unveiled it XD
Because long-term we will be saving for a house deposit I made it of bricks. Each speckled brick is $10,000 (so that first one is the goal on this thread), the grey shading on brisk 21k is what I am hoping to fill by the end of this year (fingers crossed!), the red bricks are $25,000 and the first pencil-shaded brick is the emergency fund (if we need to spend it I can erase and then re-fill it).
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I really love your way of tracking Yasha!! You have a long way to go, but you'll be there sooner than you imagine now.
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Going to jump in here, looking to build our EF back up to $10k although I am guessing it'll be slow going.
Feb-15-19: $3216
Mar-01-19: $3803
Mar-16-19: $5603 Not a bad month for spending at all so far, was able to throw quite a bit into the EF.
Mar-27: $5815 despite paying about $400 for some travel. Nice to see this go up and up.
Our garbage disposal needs replacing so that will come out of this as will HVAC service and getting our gutters fixed.
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February emergency fund: $6001
March emergency fund: $6410 (+$409)
I got a small tax refund, but I spent the majority of it on some things that I needed (spring/summer bedding) and a new bike helmet. I bought the new bike helmet on my first day of vacation. I sprung for the slightly pricier MIPS helmet. And I promptly had a rather hard crash 2 hours after I bought it. (I can't even make this shit up.) I landed directly on my head/shoulder and thoroughly beat myself up. So now I need to buy a new helmet AGAIN. But I'm fine with no brain injuries, so I can't exactly complain. The fancy helmet did its job. Anyway. Still managed to save a decent chunk toward the efund this month.
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March 2019 Update
3/31/2017 (52,848.85)
4/30/2017 (48,076.67)
5/31/2017 (47,110.22)
6/30/2017 (46,540.28)
7/31/2017 (44,354.10)
8/31/2017 (47,236.39)
9/30/2017 (42,436.10)
10/31/2017 (33,346.78)
11/30/2017 $(28,911.53)
12/31/2017 $(24,424.13)
1/31/2018 $(20,454.43)
2/28/2018 $(18,221.63)
3/31/2018 $(14,916.69)
4/30/2018 $(9,800.88)
5/31/2018 $(7,375.85)
6/30/2018 $(5,735.59)
7/31/2018 $(7,109.58)
8/31/2018 $(6,439.93)
9/30/2018 $(2,990.84)
10/31/2018 $(4,180.43)
11/30/2018 $(1,495.30)
12/31/2018 $(1,524.93)
1/31/2019 $1,935.70
2/28/2019 $6,935.41
3/31/20919 $9,917.20 +2,981.79 Increase
God I am so unbelievably close to $10K! With the weekend coming up I doubt there will be much change to this number so I figured I'd just update today instead of waiting till Sunday. I guess I'm looking to graduate with my next check (April 15th)
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Savings:
July 31: €2400
August 30: €2000
September 27: €1300
October 30: €1400
November 30: €1600
December 29: €1100
February 1: €1100
February 28: €1300
March 29: €1300
April 30: €800
May 29: €2300
June 28: €3500
July 31: €3250
August 31: €3700
September 30: €2550
October 29: €3500
December 1: €2900
December 30: €2600
January 28:. €2850
February 26:. €2500
March 29:. €3000
Pre-tax investments:
October 29: €96.24
December 1:. €197,68
December 31: €277.92
January 28:. €395,50
February 26:. €516,50
March 29:. €620,71
Post-tax Investments:
July 31: €1985.37
August 30: €2095.00
September 27: €2253
October 30: €2461
November 30: €2622.06
December 29: €2661.50 (didn't do the monthly transfer yet)
February 1: €3021,56
February 29: €3101,58
March 29: €3160,54
April 30: €3439.66
May 29: €3729.27
June 29: €3890.53
July 31: €4106.20
August 31: €4278.05
September 29: €4285.11 (didn't do the monthly transfer yet)
October 29: €4453.30 (did a double transfer this month, but sadly a lot of my gains have been wiped out)
December 1:. €4621,02
December 30: €4371.92
January 28:. €5039,38
February 26:. €5387,42
March 29:. €5612,59
Total:
July 31: €4385.37
August 30: €4095.00
September 27: €3553
October 30: €3861
November 30: €4222.06
December 29: €3761,50 (+ 740 unpaid salary = 4501.50 )
February 1: €4121,60
February 29: €4401,58
March 29: €4460,54
April 30: €4239.66
May 29: €6029.27
June: €7390.53
July 31: €7356.20 ( + €70 on my credit card, so really €7426.20)
August 31: €7978.05
September 29: €6835.11
October 29: €8049.54
December 1: €7718,07
December 30: €7249.84
January 28: €8284,88
February 26:. €8403,92
March 39:. €9233,30
New goals for 31 December 2019:
Savings: 5000
Investments: 10000
Getting so unbelievably close!! 2,5k in extra payments coming up over the next couple of months but we'll also be spending a bit in home maintenance. My guess is that I won't graduate properly until after the summer but unless a true emergency comes up, 2019 will be the year In graduate!!
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Well it looks like we survived the expenses of March, not quite the same growth from previous months, but the savings continues to grow
1/15/2019 total savings $1,910.47
1/31/2019 total savings $2,433.19
2/28/2019 total savings $3,617.17
3/29/2019 total savings $3,892.59
It is very motivational to read about everyone else. Helps keep the little engine we are working on going.
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Jan. 30, 2019: $2,973.81
I'll update it monthly and see how it goes.
3-1-2019
$3,776.82
3/30/19:
$4,406.38
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I would like to participate, have started a general savings fund with a broker and also reinvested into the 401k that I've been neglecting:
3/30/2019:
1. Broker: $2,004.04
2. 401k: $1,813.10 (18% contribution rate). I am currently behind on maxing to $19K for 2019 and so am playing catch-up... will need to get contributions up to $1,909/month ($1,530 currently). As of next month I will be contributing 22% to meet goals for the remainder of the year.
Total saved: $3,817.14 (38% towards goal). Starting today I will be updating progress every 2 weeks.
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February emergency fund: $6001
March emergency fund: $6410 (+$409)
I got a small tax refund, but I spent the majority of it on some things that I needed (spring/summer bedding) and a new bike helmet. I bought the new bike helmet on my first day of vacation. I sprung for the slightly pricier MIPS helmet. And I promptly had a rather hard crash 2 hours after I bought it. (I can't even make this shit up.) I landed directly on my head/shoulder and thoroughly beat myself up. So now I need to buy a new helmet AGAIN. But I'm fine with no brain injuries, so I can't exactly complain. The fancy helmet did its job. Anyway. Still managed to save a decent chunk toward the efund this month.
Did you charge the fancy helmet on a credit card that offers an extended warranty? If do, it might be worth looking into.
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March Update
So I had a little EF saved from January, but unfortunately it all got spent in February on a new boiler :(
New total for March - £300. Disappointing, but that's life.
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I would like to participate, have started a general savings fund with a broker and also reinvested into the 401k that I've been neglecting:
3/30/2019:
1. Broker: $2,004.04
2. 401k: $1,813.10 (18% contribution rate). I am currently behind on maxing to $19K for 2019 and so am playing catch-up... will need to get contributions up to $1,909/month ($1,530 currently). As of next month I will be contributing 22% to meet goals for the remainder of the year.
Total saved: $3,817.14 (38% towards goal). Starting today I will be updating progress every 2 weeks.
Welcome aboard @ForeverPoor! Nice job, though with a savings rate like that you won't be in this thread long and you may need to change your user name. ;)
I'm making an assumption when you say "Broker" that you're talking about an advisor type relationship rather than a low cost brokerage firm like Vanguard or Fidelity or Schwab, where you would house your index funds. A word about brokers -- You don't need one, especially if they are charging you anything. You can do it yourself, save those fees and come out WAY ahead. Check this out: https://www.nerdwallet.com/blog/investing/brokerage-commissions-fees/
If you are new to investing (?) check out the "Bible" a/k/a the J.L.Collins Stock Series: https://jlcollinsnh.com/stock-series/.
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Did you charge the fancy helmet on a credit card that offers an extended warranty? If do, it might be worth looking into.
Hmmmm, it was just my normal Capital One card that I get 1.5% back on. I'll do a little research - good idea!
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March Update
So I had a little EF saved from January, but unfortunately it all got spent in February on a new boiler :(
New total for March - £300. Disappointing, but that's life.
I totally get the disappointment, but it's important to remember that without an EF you'd now have credit card debt or a bank loan or a new boiler that's rented/leased/hire purchase or whatever expensive option is available for broke home owners where you live.
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10/2/18 - $(2742.60)
10/29/18 - $(1899.81)
11/25/18 - $(1660.04)
12/31/18 - $245
3/14/19 - $(5,212)
3/31/19 - $(882.10)
Wahoo! Gained some major ground this month thanks to tax refunds and an extra paycheck. More dips ahead in May with buying out my car lease, but secured a job for the next 6 months with less hours and more pay. But making steady progress in the right direction. EF is fully stocked, now it's time to tackle the car down payment and pay down debt.
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Welcome aboard @ForeverPoor! Nice job, though with a savings rate like that you won't be in this thread long and you may need to change your user name. ;)
I'm making an assumption when you say "Broker" that you're talking about an advisor type relationship rather than a low cost brokerage firm like Vanguard or Fidelity or Schwab, where you would house your index funds. A word about brokers -- You don't need one, especially if they are charging you anything. You can do it yourself, save those fees and come out WAY ahead. Check this out: https://www.nerdwallet.com/blog/investing/brokerage-commissions-fees/
If you are new to investing (?) check out the "Bible" a/k/a the J.L.Collins Stock Series: https://jlcollinsnh.com/stock-series/.
Thanks for the kind words - quite encouraging to see everyone making a concerted effort to be FI. I strive to do the same and hope this is setting myself on the right footing before it's too late (time-wise). What I am using now is depositing about $600-$1000 into a low cost money management fund but not through Vanguard, F or S. I suppose I need to do more research but to be quite honest I am just saving that amount for a rainy day fund.
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If it's a rainy day/emergency fund I would not put that in the market at all if I were you. Markets go up and down and events like job loss often happen when the market is down. My EF is in a regular savings account. The interest is low but at least the money is always going to be there.
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If it's a rainy day/emergency fund I would not put that in the market at all if I were you. Markets go up and down and events like job loss often happen when the market is down. My EF is in a regular savings account. The interest is low but at least the money is always going to be there.
+1. For an emergency fund a savings or money market account is a good place. In the US you can get between 2 and 2.5% now on those
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Net worth:
Jan 2019 $500
Feb 2019 $5,000
Mar 2019 $14,000
Well, that didn't last long. Got a big tax refund and the market was kind too. See everyone in the next thread (https://forum.mrmoneymustache.com/throw-down-the-gauntlet/race-from-10-to-100k!!/msg2338020/#msg2338020)!
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1/1/2018: $(170,956.12)
2/1/2018: $(166,849.63)
3/1/2018: $(161,395.88)
4/1/2018: $(156,590.44)
5/1/2018: $(152,997.61)
6/1/2018: $(149,175.48)
7/1/2018: $(143,748.22)
8/1/2018: $(138,734.38)
9/1/2018: $(135,043.66)
10/1/2018: $(131,441.14)
11/1/2018: $(133,372.50)
12/1/2018: $(128,081.25)
1/1/2019: $(80,750.78)
2/1/2019: $(73,422.02)
3/1/2019: $(60,122.64)
4/1/2019: $(54,342.22)
Congrats @Optimiser!!
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Congrats @Optimiser ! And @mckaylabaloney you're making steady progress too.
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Congrats @Optimiser!
And @mckaylabaloney -- You are absolutely killing it! Wow!
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Thank you! Yeah, it is kind of crazy how quickly it's going now. $54K in the hole is still completely ridiculous, but it feels like nothing compared to where I was at just a couple of years ago. I don't know if that's good or bad, though, haha. At any rate, what I really feel good about is that I've been increasing my assets and not just paying down my debts. It sucks to still have six figures of debt, even having decreased it by almost $70K in the last year and a half (whoa), but I'm glad that I've chosen to max out my tax-advantaged accounts at the same time, so I won't be starting from 0 when that debt is finally gone.
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If it's a rainy day/emergency fund I would not put that in the market at all if I were you. Markets go up and down and events like job loss often happen when the market is down. My EF is in a regular savings account. The interest is low but at least the money is always going to be there.
They did have 2 options - 1 is keeping it in a savings type fund with easily access any time conversion back to my checking account, and another general investing account but still with the same access setup. I'll have to read more and decide which direction I want to take this pool in.
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Mid-April 2019 Update
3/31/2017 (52,848.85)
4/30/2017 (48,076.67)
5/31/2017 (47,110.22)
6/30/2017 (46,540.28)
7/31/2017 (44,354.10)
8/31/2017 (47,236.39)
9/30/2017 (42,436.10)
10/31/2017 (33,346.78)
11/30/2017 $(28,911.53)
12/31/2017 $(24,424.13)
1/31/2018 $(20,454.43)
2/28/2018 $(18,221.63)
3/31/2018 $(14,916.69)
4/30/2018 $(9,800.88)
5/31/2018 $(7,375.85)
6/30/2018 $(5,735.59)
7/31/2018 $(7,109.58)
8/31/2018 $(6,439.93)
9/30/2018 $(2,990.84)
10/31/2018 $(4,180.43)
11/30/2018 $(1,495.30)
12/31/2018 $(1,524.93)
1/31/2019 $1,935.70
2/28/2019 $6,935.41
3/31/2019 $9,917.20
4/10/2019 $10,419.41 +502.21 increase
I get paid on the 15th but my investments grew enough to put me over the $10K mark and I just couldn't wait to post here that I finished the race!!! On to the race to $100K :)
Even though I'm graduating from this race for my net-worth I will be starting a new one for my Emergency Fund and "New" car fund. I'm planning on savings $10k in each account so I'll have dueling races. The EF will be top priority and then the car. I think I can get another 5 years at least on my current 2009 Toyota Yaris so I have no rush on that.
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Congratulations @haypug16 !!! Now go light up that next race. :)
(https://media2.giphy.com/media/d3dIaJLb3TXRwxyg/200.webp?cid=790b76115cae34ec30736d4f6f69d720)
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Thanks Trifele!!! It's lovely to hit a five digit NW.
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Yay!!! Congrats, @haypug16! See you (briefly, cause you'll be outta there soon) in the next thread!
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Keeping on keeping on...
By my calculations we should hit 10k on Oct 24th. Windfalls or hubby getting some work gigs might bring that forwards.
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I don't want to revisit old posts that I made here but going to start a fresh. Maybe one day I will link them but here we go. I am focusing on paying debt more than increasing my income.
Student loan - (26,503.71)
Car Loan - (1325.77)
Credit card debt - 1413.68
Savings - $50
Checking - $110
401K - 18, 323 (Or something like that)
Goals - Pay off car loan and credit card debt by April. Have a $2000 emergency fund by end of June.
I don't think it will be a good money year for me based on expenses I need to budget for
Insurance due in April - $600
New laptop as my nine year lap top has been acting up in terms of the track pad - (1,000)
Registration for CFA level 2 in june - I did not want to take it this year but ($1200 for materials and exam) If I pass my company reimburses which is good.
Lease ends in June - Need to look for another apartment.
I feel like I haven't made much of a dent in terms of debt payment. So focusing way more on that. I want my student loans gone!
Update soon after, but I normally update mid month.
Student loan - (26,503.71)
Credit card debt - 1000 (0% until 2020)
Savings - $400
Checking - $167
401K - 20530.55
Car loan is paid off and that was far more anticlimactic than I expected.
Truly the swahili saying that "Chovya Chovya humaliza buyu la asali" while used as a word of caution actually works for debt. Paying little by little lessens the balance. Literal translation:constant dipping finishes the pot of honey.
Also a great proverb for wasteful spending too.
Paid of a bunch of things using credit card. Insurance, car expense, vacation and debt has climbed.
Student loan - ($26,281.19)
Credit card debt - 3000 (0% until 2020)
Savings - $1300
Checking - $447
401K - 20530.55
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Thank you! Yeah, it is kind of crazy how quickly it's going now. $54K in the hole is still completely ridiculous, but it feels like nothing compared to where I was at just a couple of years ago. I don't know if that's good or bad, though, haha. At any rate, what I really feel good about is that I've been increasing my assets and not just paying down my debts. It sucks to still have six figures of debt, even having decreased it by almost $70K in the last year and a half (whoa), but I'm glad that I've chosen to max out my tax-advantaged accounts at the same time, so I won't be starting from 0 when that debt is finally gone.
You are a badass!
You too, @haypug16!
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Yay @haypug16 !!! Congrats!!
@Yasha we're both still going to be here for a while but look at how far we've come!
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Hey All!
Not that long ago I was solidly in this thread, aiming to get up to $10k.
I'm happy to say our investments are approaching $25k, and overall networth is well over $30k.
I haven't always kept the most positive attitude about my financial progress, yet our NW continues to grow.
It is fantastic, and just shows that we should all just keep up the efforts, because it is paying off!
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Great Job DieHard! I completely agree. Even when it doesn't seem like things are going as well as I'd like the end results prove that my effort pays off.
I'm restarting this race for my EF and Car Fund. I hope to get my EF to $10K within a year or 2. I don't plan on needing a new car at least for another 5 years so that account will be growing much slower.
Starting Balance
Emergency Fund Car Fund
4/15/19 - $1,750 $100.07
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Bi-weekly update:
3/30/2019:
1. Broker: $2,004.04
2. 401k: $1,813.10 (22% contribution rate).
4/15/2019:
1. Broker 2,043.45 ($2,000 deposited, $43.45 gain)
2. 401k: $2,786.76 ($2,732 contributed, $54.76 gain)
Saved to date: $4,830.21 (48% towards goal).
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Another payday towards the goal. Cracked $4000 today. Two more pays (or maybe one if Mr gets paid for some work he did recently, the paperwork is taking forever) and we’ll be halfway to 10k
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10/2/18 - $(2742.60)
10/29/18 - $(1899.81)
11/25/18 - $(1660.04)
12/31/18 - $245
3/14/19 - $(5,212)
3/31/19 - $(882.10)
4/25/19 - $(16,545.33)
Ooooouch. Bought out the car lease this month and more than doubled my debt. But that's the final big expense for me until I buy a house in like 15 years (knock on wood), so I feel confident that I'll get it down fast. Here we go, for real this time!
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Another payday towards the goal. Cracked $4000 today. Two more pays (or maybe one if Mr gets paid for some work he did recently, the paperwork is taking forever) and we’ll be halfway to 10k
Hey Yasha, Team 4k here :-D Congrats, I now too stand over €4,000, at €4,150 to be precise.
That is 11,650 in my portfolio and cash, 1,800 value of the car, and approx. €9,300 in debt.
This debt is composed of €1,910 student loan at 1% interest, €6,160 student loan/consolidation loan at 3.3% and an unusually high credit card balance of €1,230. Monthly payments are €345. The credit card balnce is from an awesome vacation and is of course paid in full each month, and the vacation budgeted for.
Aiming for 6k in May, because a work bonus is coming.
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Going to jump in here, looking to build our EF back up to $10k although I am guessing it'll be slow going.
Feb-15-19: $3216
Mar-01-19: $3803
Mar-16-19: $5603 Not a bad month for spending at all so far, was able to throw quite a bit into the EF.
Mar-27: $5815 despite paying about $400 for some travel. Nice to see this go up and up.
Our garbage disposal needs replacing so that will come out of this as will HVAC service and getting our gutters fixed.
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Nice tax return so we're now at 6966 with some bigger bills coming up (tires, registration etc)
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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
I stepped away from the forum for a year and it’s interesting to take stock of what’s happened since then. I started a new job, my spouse received a raise and a match on a simple IRA, my children no longer qualify for Medicaid, and we spent money with reckless abandon. Happy to be back here and ready to be more responsible.
Mid-Apr 2019:
SEP IRA: $0
tIRA: $6,329
Simple IRA: $4,500
Emergency fund: $1,000
Hospital bill: $0
Total: $11,829
Which means I graduated! See you guys in the next level soon!
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I am deferring this weekend's update to 4/30 in order to accommodate month end. More to come.
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Savings:
July 31: €2400
August 30: €2000
September 27: €1300
October 30: €1400
November 30: €1600
December 29: €1100
February 1: €1100
February 28: €1300
March 29: €1300
April 30: €800
May 29: €2300
June 28: €3500
July 31: €3250
August 31: €3700
September 30: €2550
October 29: €3500
December 1: €2900
December 30: €2600
January 28:. €2850
February 26:. €2500
March 29:. €3000
April 29: €3350
Pre-tax investments:
October 29: €96.24
December 1:. €197,68
December 31: €277.92
January 28:. €395,50
February 26:. €516,50
March 29:. €620,71
April 29: €748.59
Post-tax Investments:
July 31: €1985.37
August 30: €2095.00
September 27: €2253
October 30: €2461
November 30: €2622.06
December 29: €2661.50 (didn't do the monthly transfer yet)
February 1: €3021,56
February 29: €3101,58
March 29: €3160,54
April 30: €3439.66
May 29: €3729.27
June 29: €3890.53
July 31: €4106.20
August 31: €4278.05
September 29: €4285.11 (didn't do the monthly transfer yet)
October 29: €4453.30 (did a double transfer this month, but sadly a lot of my gains have been wiped out)
December 1:. €4621,02
December 30: €4371.92
January 28:. €5039,38
February 26:. €5387,42
March 29:. €5612,59
April 29: €5995.76
Total:
July 31: €4385.37
August 30: €4095.00
September 27: €3553
October 30: €3861
November 30: €4222.06
December 29: €3761,50 (+ 740 unpaid salary = 4501.50 )
February 1: €4121,60
February 29: €4401,58
March 29: €4460,54
April 30: €4239.66
May 29: €6029.27
June: €7390.53
July 31: €7356.20 ( + €70 on my credit card, so really €7426.20)
August 31: €7978.05
September 29: €6835.11
October 29: €8049.54
December 1: €7718,07
December 30: €7249.84
January 28: €8284,88
February 26:. €8403,92
March 29:. €9233,30
April 29: €10094.35
New goals for 31 December 2019:
Savings: 5000
Investments: 10000
I made it!!!!!!!!!!!!! Took me almost 2 years. When I started my income was €1200. Nearly two years later I make about €1800 and my savings are about 6x a (much higher) income or 14 months of expenses.
I might be back in a while because we need to do some maintenance to our house, but then again I'm also expecting a few thousand in additional income so I might not be back. :) I will certainly keep following this thread though! I am already noticing how saving is easier the more money you have. The first 5000 were much more difficult than the next 5000. I've increased my income by negotiating harder because I know I don't need this particular job or customer. And the markets are doing well which has definitely helped me.
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Yay @Imma!!!! CONGRATULATIONS! Well done. :)
-
March emergency fund: $6,410
April emergency fund: $6,547 (+$137)
Going to be a slow couple of months here, but I figure any month I add and not subtract is a win in my book!
-
Jan. 30, 2019: $2,973.81
I'll update it monthly and see how it goes.
3-1-2019
$3,776.82
4-30-2019
$5,490.27
-
1/1/2018: $(170,956.12)
2/1/2018: $(166,849.63)
3/1/2018: $(161,395.88)
4/1/2018: $(156,590.44)
5/1/2018: $(152,997.61)
6/1/2018: $(149,175.48)
7/1/2018: $(143,748.22)
8/1/2018: $(138,734.38)
9/1/2018: $(135,043.66)
10/1/2018: $(131,441.14)
11/1/2018: $(133,372.50)
12/1/2018: $(128,081.25)
1/1/2019: $(80,750.78)
2/1/2019: $(73,422.02)
3/1/2019: $(60,122.64)
4/1/2019: $(54,342.22)
5/1/2019: $(48,858.05)
Something about getting under (above?) the 50Ks makes a positive net worth feel, for the first time since I started law school, within reach. Hooray!
Congrats @Imma !!
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Something about getting under (above?) the 50Ks makes a positive net worth feel, for the first time since I started law school, within reach. Hooray!
Wow @mckaylabaloney you've got some great momentum going! Way to go!!
-
Congratulations Imma, I'm really delighted for you!
-
BoI savings a/c: 150.00
DiBa ETF: 1,203.38
CmzBank savings a/c: 2,100.00
Total: +3,453.38
BoI savings a/c: 250.00
DiBa ETF: 1,364.90
CmzBank savings a/c: 2,300.00
Total: +3,914.90
Net: +3,914.90 (and almost 400 built up again in savings for annual expenses and travel, plus a very generous allowance in my current account to cover a week's holiday at the end of the month) - one very big invoice was paid and although things are slow on the side-gig front at the moment, I am kind of happy about that. I need the break more than the money at this stage. Finally also got a date to start my new job on 1 June - it's an internal transfer to a place I think is a much better fit for me. I'm taking another paycut as my new job is one pay grade lower than my current one but I have also now been here for three years, which means that I go up a level (there are about five levels for each grade) - so I'll be making less money than I would be getting if I stayed here (to the tune of about €50 net per month) but more money than I currently earn (€20 more net per month). Really pleased with myself that I remembered I was due to go up a level, as it meant I was able to ask for an extra line to be added to my amended contract confirming that my years of service at the higher grade will be counted at the lower grade, too. We are also due an increase so I'll get that back-dated to January at my old grade and start the new job at the new increased rate (another approx. €50 net per month more).
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Thanks everyone! We need to do some work on the house, so depending on the timing of those invoices and my pay dates I might be back for a little while. I will continue to follow your progress regardless.
Good to hear you're transferring to a much nicer job @Moonwaves and it sounds like the pay cut will be minimal. Having a job you like way more is certainly worth that. And @mckaylabaloney look at you!! You've increased your net worth by a staggering $100.000 over the last year. "Just" $48k to go now. Sounds like you're graduating in 2019, too!
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Congratulations Imma! :)
EF Update:
Apr £500 (+£200)
May £900 (+£400)
-
1/1/2018: $(170,956.12)
2/1/2018: $(166,849.63)
3/1/2018: $(161,395.88)
4/1/2018: $(156,590.44)
5/1/2018: $(152,997.61)
6/1/2018: $(149,175.48)
7/1/2018: $(143,748.22)
8/1/2018: $(138,734.38)
9/1/2018: $(135,043.66)
10/1/2018: $(131,441.14)
11/1/2018: $(133,372.50)
12/1/2018: $(128,081.25)
1/1/2019: $(80,750.78)
2/1/2019: $(73,422.02)
3/1/2019: $(60,122.64)
4/1/2019: $(54,342.22)
5/1/2019: $(48,858.05)
6/1/2019: $(49,269.97)
Haha uhhhh shucks. Well, all my savings this month (and then some) were wiped out by market losses. Oh well! It'll come back.
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I was wondering why this thread had gone silent. When the market goes down, it's easier to increase the number of shares you own. That way, when the market rises, you'll be even more buoyant.
-
April emergency fund: $6,547
May emergency fund: $6,559 (+$12)
Well, I didn't manage to put anything toward ye ol efund in May. But I earned 12 bucks in interest. Errrr, that's something!
-
10/2/18 - $(2742.60)
10/29/18 - $(1899.81)
11/25/18 - $(1660.04)
12/31/18 - $245
3/14/19 - $(5,212)
3/31/19 - $(882.10)
4/25/19 - $(16,545.33)
5/29/19 - $(14,275.68)
Managed to make a dent in things this month, but I still feel like I'm going nowhere. I can't wait until this debt is gone! Even though my net worth is this much, my actual debt almost twice this. So frustrating, but it'll be gone someday soon.
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10/2/18 - $(2742.60)
SNIP
4/25/19 - $(16,545.33)
5/29/19 - $(14,275.68)
Managed to make a dent in things this month, but I still feel like I'm going nowhere. I can't wait until this debt is gone!
Even though my net worth is this much, my actual debt almost twice this.
So frustrating, but it'll be gone someday soon.
@cazio - looks pretty damn good from where I sit, cazio. Your numbers speak for themselves - you are making more than just a dent:)!
As far as your actual debt being twice that amount - well, think of it this way - as long as you do not add to your debt and you pay off at least the minimum each month - it will eventually be whittled down to zero.
I know what you mean about all of this taking forever, I've been saving up to $50K in the $50K thread since 2017 - I am so over it at times. But you know what? There is a certain satisfaction in seeing that despite all the curveballs life throws at you-you persevered.
There is proof of your financial gain right in front of your eyes - revel in it:).
We got this - your $10K will happen and so will my $50K - all we have to do is keep our eye on the prize and do all the million little things along the way to reduce expenses and never stop optimizing and looking for opportunities.
I do enjoy a challenge, but it helps a great deal to be motivated along the way - not just that - without this forum, I would never even have thought myself capable of saving $50K. $5K sure, I can do that, but $50K? That actually sounded laughable and impossible to me until one day I believed I could.
True - it is frustrating to have to stop contributing to your savings, because you need your money to go elsewhere that month, but at least we have the money to re-direct and we can dust ourselves off and move on to the next month.
Just like @LittleWanderer pointed out - it is great when we reach the next step and didn't have to dig into the EF, but managed to hold onto the savings - so now we can grin over the fact that, oh yeah - I gained $12 in interest.
The first time my interest went over $50 a month I was so thrilled:).
Somehow moving past a situation where I continually needed to dip into the emergency fund was the hardest part - harder than saving up for $50K.
Hang in there guys, you are doing great - stay focused and you will remain on track, even if the savings train occasionally comes to an unexpected stop. and your carefully orchestrated plans go totally awry.
All you have to do is work on being better prepared next time and keep on truckin'.:)
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May update Emergency Fund Car Fund
4/15/19 - $1,750 $100.07
5/31/19 - $1,894 $150.46
Small increases but I hope to make some bigger contributions once I'm back to work in July
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Congratulations @Imma
Can't believe I've only just seen that you've passed the 10k threshold. Really impressed with how quickly you've been increasing your NW these past few months.
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Congratulations @Imma
Can't believe I've only just seen that you've passed the 10k threshold. Really impressed with how quickly you've been increasing your NW these past few months.
Yes, I still can't believe how easy 2019 has been so far, and I didn't really do anything special. I reached 10k before I even got my annual tax return I think. The market has helped me, I've been making about €200/month through my side hustle, but that's it. I haven't been significantly more frugal than usual.
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Greetings fellow savers!
Despite a very bad May, and the volatile stock market, I am now at the halfway point with 5k €.
This is made up like this:
Car: 1,600
Investments, cash, amounts payable: 11,310
Student loans, residual debt: 7,307
CC: 603
I am currently a bit over-invested and keep my fingers crossed for the G20 summit to cash out a bit. Otherwise, I'll use my cash flow for boosting my EF and saving up for car-investing (repairs or a new-to-me-one) until years end.
Keep going!
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10/2/18 - $(2742.60)
10/29/18 - $(1899.81)
11/25/18 - $(1660.04)
12/31/18 - $245
3/14/19 - $(5,212)
3/31/19 - $(882.10)
4/25/19 - $(16,545.33)
5/29/19 - $(14,275.68)
6/28/19 - $(13,578)
Feeling good about things. Thanks for the encouragement @Rosy !! Much needed. Slowly but surely I'm on my way. Things are looking up job wise and I think my next gig will pay me significantly more than what I'm currently making, which is awesome! But only time will tell.
It is hard to balance life goal and financial goals. For me they usually align but sometimes they don't and lately I've just kinda been like f*** it, I'm in my 20's. Not over the top, but I don't berate myself like I used to. Finding the balance is the current struggle!
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Way to go @cazio. @Rosy is right that the first 10k is the hardest, especially when you start in debt. (Been there). After that things start to roll. You've got GRIT. You've got this!
Welcome @BobTheBuilder! You are looking good. Congrats on reaching the halfway point.
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1/1/2018: $(170,956.12)
2/1/2018: $(166,849.63)
3/1/2018: $(161,395.88)
4/1/2018: $(156,590.44)
5/1/2018: $(152,997.61)
6/1/2018: $(149,175.48)
7/1/2018: $(143,748.22)
8/1/2018: $(138,734.38)
9/1/2018: $(135,043.66)
10/1/2018: $(131,441.14)
11/1/2018: $(133,372.50)
12/1/2018: $(128,081.25)
1/1/2019: $(80,750.78)
2/1/2019: $(73,422.02)
3/1/2019: $(60,122.64)
4/1/2019: $(54,342.22)
5/1/2019: $(48,858.05)
6/1/2019: $(49,269.97)
7/1/2019: $(29,802.87)
Whoa okay. Markets rebounded and I received an unexpected mid-year bonus last month. Wow.
My assets are now over six figures, which is genuinely hard to believe. That's mostly in tax-advantaged retirement accounts, but my bonus allowed me to start a down payment fund as well, which feels really good. If I make it through the rest of this year at my job, and they pay out end-of-year bonuses that are similar to last year's, I should wind up with enough of a down payment to buy in the LCOL city I'd like to move to next year. I definitely do not take for granted how fortunate that makes me -- it is getting me through some very anxious days at this job.
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Way to go, @mckaylabaloney! Congratulations to everyone still striving for the goal. You're making awesome progress!
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Holy shite @mckaylabaloney! You are absolutely crushing it. Well done!
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Wow @mckaylabaloney !! You're doing really great. Won't be too long until we meet in the next thread.
-
Student Loan Debt:
01/12/19: $43,762.76
02/01/19: $42,561.06 (-$1,201.70)
03/04/19: $41,418.69 (-$1,139.41)
Net Worth per Personal Capital:
03/04/19: -$30,065
I will be receiving a large tax refund later this month and will be investing it into an IRA account. Additionally, I am going to be changing my approach a bit and begin contributing less towards my student loans for the next few months as I max out my IRA account for the year. This will be beneficial to me in the long run due to my relatively low interest rates on my student loans, and the tax advantages of IRA accounts. Everyone seems to be doing well, keep up the good work!
Made some serious head way on increasing my net worth over the past few months, the total shown below does not yet include my new employer 401K, but should have it all linked together by next month:
Student loan debt: $37,901.63
Net Worth per Personal Capital: -$21,711
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June update Emergency Fund Car Fund
4/15/19 - $1,750 $100.07
5/31/19 - $1,894 $150.46
6/30/19 - $2,032.31 $200.77
Great job everyone! Keep it up!
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Nice progress, haypug, let's keep moving :-)
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First time posting in this thread. I wasnt paying much attention to networth when we were negative but I recently paid off my student loans so we only owe on my wife's loans now. Set to pay those off in a few years. I don't check too often since mint doesnt work with some of the accounts we have but for purposes of this thread I think im just going to go with what mint says for now.
starting off at: 7.17.19 4,199.61
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I made it!!! I am at 10,278€!!!
Ten Thousand Two Hundred Seventy Eight Euros!
My net worth jumped over 5K in one month. But how?
I took a huge risk for getting my knocked out Tesla leverage back, and was mostly successful. That was 1k€.
1.3k is my regular surplus. I received a bonus at work, spent very little apart from buying a mobile AC in order to not get a heat stroke in my sleep (we are not ready for 40C/105F here with our architecture and no AC anywhere in regular apartment buildings). The rest of the portfolio went up, too. Bolstered my cash position by cashing out on turbo certificates. I am now de-leveraged and will keep it like that for a while.
Car: 1,500
Investments, cash, amounts payable: 16,069
Student loans, residual debt: 6,980
CC: 311
Next month we will be moving to a nicer building a few blocks away, and I hope I will be posting a follow up in the race from 10k to 100k!
Great feeling, I never thought that could happen so quickly.
Keep up the work :-)
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10/2/18 - $(2742.60)
10/29/18 - $(1899.81)
11/25/18 - $(1660.04)
12/31/18 - $245
3/14/19 - $(5,212)
3/31/19 - $(882.10)
4/25/19 - $(16,545.33)
5/29/19 - $(14,275.68)
6/28/19 - $(13,578)
7/26/19 - $(12,692)
Currently have $7250 in my EF, having just added $250. Put over $500 toward my car loan this month. Still a bit hesitant and playing it safe when it comes to tackling debt (and by that I mean I'm still padding my EF instead of just going 100% into paying off debt) but it feels good to attack it. I'm already at almost 10% of my car loan paid off!
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@BobTheBuilder! Congratulations!! From the halfway point to the finish line in the blink of an eye. Next stop -- the 100k thread. All power to you.
Keep it up @cazio! You've got a nice rhythm going.
And welcome @coldestcat! Congrats on paying off your student loans. Those milestone victories feel so good on the journey upward.
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Well done everyone who has graduated since the last time I was here. And to everyone else saving away, too!
I did start my new job at the start of June and it was such a change, I could hardly believe I could feel so happy at work. That was in large part due to my new boss, who I got on so well with right from the start - and then six weeks later he killed himself. Totally out of the blue really, I had guessed/he had half told me that he was or had been in therapy but I have rarely met anyone who had such a quiet yet positive energy. I suspect something must have happened on the weekend he did it that caused him to snap but we'll just never know. I miss him.
And of course work has been a mess, because he hadn't quite finished showing me how to do everything (like, seriously, how great is it to work in a place where they purposely do not load you up with every single task from day one and instead allow you to get to know a couple of tasks properly first and then the next day show you the next tasks?). We're getting there slowly but surely but yeah, it's all been a bit of a mess and I have definitely spent a lot more money on chocolate and crisps and takeaway than I really should.
And it is that time of year when most of my annual bills come due, so it has been spendy, spendy, spendy. I am down to just €50 in both my annual expenses and holiday accounts and pulled some money out of savings almost as soon as I had put it in there in the first place. Still, at least I have made some progress. And I have to just keep reminding myself that the reason I have those annual expenses and holiday accounts is so that I have money to pay those bills when they are due. I won't have any other similar big bills to pay for a good few months now.
So, I was at
BoI savings a/c: 250.00
DiBa ETF: 1,364.90
CmzBank savings a/c: 2,300.00
Total: +3,914.90
And now I'm at
BoI savings a/c: 200.00
DiBa ETF: 1,577.90
CmzBank savings a/c: 2,450.00
Total: +4,227.90
Net: +4,227.90
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Ohmygosh, Moonwaves, what an unfortunate turn of events! Sorry about your boss, and the stress of his passing. Kudos on your progress, though.
-
1/1/2018: $(170,956.12)
2/1/2018: $(166,849.63)
3/1/2018: $(161,395.88)
4/1/2018: $(156,590.44)
5/1/2018: $(152,997.61)
6/1/2018: $(149,175.48)
7/1/2018: $(143,748.22)
8/1/2018: $(138,734.38)
9/1/2018: $(135,043.66)
10/1/2018: $(131,441.14)
11/1/2018: $(133,372.50)
12/1/2018: $(128,081.25)
1/1/2019: $(80,750.78)
2/1/2019: $(73,422.02)
3/1/2019: $(60,122.64)
4/1/2019: $(54,342.22)
5/1/2019: $(48,858.05)
6/1/2019: $(49,269.97)
7/1/2019: $(29,802.87)
8/1/2019: $(25,751.08)
Back to a more normal pace this month. I am having a pretty difficult time in my job right now -- I have lost all motivation and truly dread going in to work every day; it's affecting my mental health enormously -- so I have been toying with the idea of leaving earlier than I planned, and maybe even moving to my hometown earlier than I planned (was previously planning on leaving my job and subsequently moving sometime in the first half of 2020). I even nearly bought a house this month with that new down payment fund I started -- a house suddenly went on the market in my absolute dream neighborhood in my hometown. That happens only rarely, and this is one of the few houses in the neighborhood that could possibly be affordable to me for at least the foreseeable future (most are too big and thus too expensive for me). But I took too long deciding whether I'm ready to make the leap, and someone else snatched it up in its first weekend on the market. So that's disappointing in some ways -- who knows when an opportunity like that will be available again -- but in most ways I'm sure it's for the best.
@Moonwaves I am so sorry about your boss. I hope the transition gets smoother very soon.
-
Student Loan Debt:
01/12/19: $43,762.76
02/01/19: $42,561.06 (-$1,201.70)
03/04/19: $41,418.69 (-$1,139.41)
07/05/19: $37,901.63 (-$3,517.06)
08/10/19: $36,673.79 (-$1,227.84)
Net Worth per Personal Capital:
03/04/19: -$30,065
07/05/19: -$21,711 ($8,294)
08/10/19: -$18,173 ($3,538)
Great to see all the continued support on this thread! My new goal for the end of the year is to have a net worth of $0.00 or greater (stretch of March 1, 2020), I continue to make large payments on my loans while also using the take advantages of IRA's and 401K's. I hope you all have a great last month or so of summer and I'll be here to check in again next month!
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Oh, @Moonwaves, I am sorry for the loss of your boss, for you and everyone who knew him, especially his family.
And @mckaylabaloney, I have been in your position. In my case, I resisted the urge to go "home", because while prices were lower, so were the opportunities. I did buy a house there. I fixed it up and rented it out. I didn't make much on it when I sold it eight years later, but I learned a ton. My key takeaway is, "There will always, always be another property." Continue doing what you're doing. The more you strengthen your position, the better the opportunities will be.
I'm always happy to see updates on this thread. Good work, y'all!
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My key takeaway is, "There will always, always be another property."
*laughs nervously* Well, it's funny you should say that, because the very day I made that post, a gorgeous house went on the market in a different neighborhood -- more of an up-and-coming neighborhood compared to the very old, established, beautiful neighborhood of the other house. And...I'm now under contract for that house??? This one is within walking distance of my hometown's train station, so I can stay at my current, high-paying job and commute via train. It's a longer commute than I would prefer, but I know reasonable people who have done it for years or even decades, so I'm going to give it a shot. If I can stick it out for 6 months or so -- well, that's about as long as I was planning to stay in this job before the house purchase anyway. And if I can handle it for longer, all the better.
The upshot that I don't think I've ever mentioned on here before is that if I hate commuting or simply can't stand my job anymore and decide to get a job in the city I'm moving to (which was always the plan for some point in the near future), my compensation would definitely be lower -- but I would be eligible (due to the lower compensation) to reenter my law school's loan assistance repayment program. So they would pay a portion of my loans (the amount would be based on my income), which would mitigate some (not all) of the income loss.
Anyway, who knows, anything can happen, etc., but I certainly see myself living there for many years (among other reasons, it's small enough that it won't feel cavernous for just me, but it's big enough to accommodate a partner, should I find one, and a kid or two if I ever decide to have them). And I got it for an absolute steal, especially since in most ways I could not have dreamed up a better home for myself. So...I'm thrilled about it! Even though it's going to move my net worth in the wrong direction for a bit due to closing and moving costs. I'll check back in here once things have stabilized again.
-
Ooh, that sounds exciting @mckaylabaloney! Please keep us posted on your progress.
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I haven't been on here in ages, not since 2017 actually. So much has happened since then. I graduated school, got married, and started a new job and got in to about 10k work of debt in the process. Oops. So I'm starting my tracking over with a blank slate. Well sort of, while I'm in the negative right now but I plan on moving the needle back towards the green again. I'll get paid this weekend so they number will go up a bit but I'll just update it next time. Better to start now than never.
8/21/19: $(-9,535)
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Welcome, @twocatsinaflat! :)
-
10/2/18 - $(2742.60)
10/29/18 - $(1899.81)
11/25/18 - $(1660.04)
12/31/18 - $245
3/14/19 - $(5,212)
3/31/19 - $(882.10)
4/25/19 - $(16,545.33)
5/29/19 - $(14,275.68)
6/28/19 - $(13,578)
7/26/19 - $(12,692)
8/23/19 - $(11,219)
Made some fake progress this month - my last month employed for ??? months. EF is padded up and ready but I hope to only have 2 months off and take odd jobs and day playing jobs to coast me. Upside is my next job will probably bump my pay up significantly, so everything will hopefully balance out for the better.
Even though this is unemployed time it also means it's the only time to take trips etc, so I have one tentative trip planned on the cheap, then visiting friends and family. Nothing that will take a bite out of the wallet thankfully!
On to better things!
-
Student Loan Debt:
01/12/19: $43,762.76
02/01/19: $42,561.06 (-$1,201.70)
03/04/19: $41,418.69 (-$1,139.41)
07/05/19: $37,901.63 (-$3,517.06)
08/10/19: $36,673.79 (-$1,227.84)
09/01/19: $35,289.89 (-$1,383.90)
Net Worth per Personal Capital:
03/04/19: -$30,065
07/05/19: -$21,711 ($8,294)
08/10/19: -$18,173 ($3,538)
09/01/19: -$12,615 ($5,558)
August was a great month as I received 3 paychecks! Additionally, I finally linked my current retirement account to Personal Capital, hence the large increase in net worth this past month. It won't be long until I become worthless :) I Hope everyone is enjoying the last few weeks of summer!
-
BoI savings a/c: 200.00
DiBa ETF: 1,577.90
CmzBank savings a/c: 2,450.00
Total: +4,227.90
Net: +4,227.90
Another month, another paycheque (or transfer at least - don't think I've ever actually been paid with a cheque). Things are ticking along nicely. I even managed to not spend down to zero this month and so have started the float in my current account that I have been wanting to do for ages, i.e. always having 600 in my current account as a buffer. I'm not sure there's any particularly sensible reason to do this other than that I want to prove to myself I can - I have always operated on a nothing left by the end of the month plan. In days gone by that was actually a good month because it meant I hadn't used my overdraft. These days, it's because I transfer money to savings as soon as I get paid and leave just enough to cover expected expenses throughout the month. I want to see how I deal with not always spending everything in the account. It's a bit easy to find ways to spend money if there is some leftover because, for example, I've spent less than expected on food that month.
BoI savings a/c: 300.00
DiBa ETF: 1,595.22
CmzBank savings a/c: 2,600.00
Total: +4,495.22
Net: +4,495.22
The float in my current account is €50, and I've started adding to my annual expenses (€250) and travel accounts (€150) again. I have some big invoices hopefully getting paid soon and will be putting aside most of that for some travel and house stuff I want to get done. From next year, I'll be aiming to save all of my side income.
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August emergency fund: $6,361 (-$198)
Oops, haven't checked in here in a little while. My efund continues to just stagnate around $6K. I pre-paid my climbing gym membership for the year back in July, so that took a nice chunk out. (But hey, it's cheaper than doing month to month.) September won't be so hot either, but hopefully will start rebuilding after that...
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My wife started doing photography a while ago as a hobby and just did her first paid job, so we might see more income from that if it becomes a regular thing.
7/17/19- 4,199.61
9/3/19- 15,357.17
I think this was such a big jump because the rent is still being included and other things since its the beginning of the month. I will check next month to see if this is normal or not.
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Woohoo. One of the biggest invoices just got paid. Usually takes a couple of months for stuff for that client to come through. I've moved half of it over to my business account to cover taxes and some for my laptop fund. I've topped up my annual expenses to 1,100 and travel to 1,000 and sent more to my emergency fund. I feel rich! Especially because I know I have several more invoices waiting to be paid. I may actually get to saving all of my side income before the start of next year. Feeling positive today*. Long may it last.
* Helped by the fact that I just got the doctor to prescribe six massage sessions for me which will hopefully take care of the (literal) pain in my neck.
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Great updates everyone! Keep up the good work, and let's finish the year strong!
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BoI savings a/c: 300.00
DiBa ETF: 1,595.22
CmzBank savings a/c: 2,600.00
Total: +4,495.22
Net: +4,495.22
And since I'm at a computer now, here are my updated totals:
BoI savings a/c: 300.00
DiBa ETF: 1,623.22
CmzBank savings a/c: 4,000.00 (ok, not actually yet but I've transferred the money and it should show up by Monday)
Total: +5,923.22
Net: +5,923.22
With 1,100 in annual expenses/house maintenance and 1,000 in travel and still just over 200 in my current account. Spending money for the rest of the month is elsewhere so I'm going to see if I can keep most of this where it is. This all sets me up for a good month in October. The less stressed I am about money, the easier I usually find it to not spend.
Hope everyone has a great weekend.
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Yay @Moonwaves you're doing great! Even though I've graduated new posts here still show up in my list and I'm still curious to see how you are all doing. The first 10k seriously is the hardest part and I know how hard everyone is working here to get there, and on a low income too.
@LittleWanderer when I started pre-paying things up front I would calculate how much I'd have to put aside each month to pay next year's bill so it was really clearly visible that my previously €25/month gym payment was now a €20 reservation etc. €10 here and there will seriously add up over the course of a year. I also pay my insurance up front which saves only 3% but on a pretty significant amount of money.
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I don't want to revisit old posts that I made here but going to start a fresh. Maybe one day I will link them but here we go. I am focusing on paying debt more than increasing my income.
Student loan - (26,503.71)
Car Loan - (1325.77)
Credit card debt - 1413.68
Savings - $50
Checking - $110
401K - 18, 323 (Or something like that)
Goals - Pay off car loan and credit card debt by April. Have a $2000 emergency fund by end of June.
I don't think it will be a good money year for me based on expenses I need to budget for
Insurance due in April - $600
New laptop as my nine year lap top has been acting up in terms of the track pad - (1,000)
Registration for CFA level 2 in june - I did not want to take it this year but ($1200 for materials and exam) If I pass my company reimburses which is good.
Lease ends in June - Need to look for another apartment.
I feel like I haven't made much of a dent in terms of debt payment. So focusing way more on that. I want my student loans gone!
Update soon after, but I normally update mid month.
Student loan - (26,503.71)
Credit card debt - 1000 (0% until 2020)
Savings - $400
Checking - $167
401K - 20530.55
Car loan is paid off and that was far more anticlimactic than I expected.
Truly the swahili saying that "Chovya Chovya humaliza buyu la asali" while used as a word of caution actually works for debt. Paying little by little lessens the balance. Literal translation:constant dipping finishes the pot of honey.
Also a great proverb for wasteful spending too.
Paid of a bunch of things using credit card. Insurance, car expense, vacation and debt has climbed.
Student loan - ($26,281.19)
Credit card debt - 3000 (0% until 2020)
Savings - $1300
Checking - $447
401K - 20530.55
It feels like I haven't made any progress even though I have. Unfortunately, credit card is higher than I'd like it to be. My only saving grace was paying off my car earlier this year
Student loan - ($25,603.82)
Credit card debt - 5000 (0% until 2020)
Savings - $2600
Checking - $600
401K - 23,277.66.55
Total - (4,126.17)
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Student Loan Debt:
01/12/19: $43,762.76
02/01/19: $42,561.06 (-$1,201.70)
03/04/19: $41,418.69 (-$1,139.41)
07/05/19: $37,901.63 (-$3,517.06)
08/10/19: $36,673.79 (-$1,227.84)
09/01/19: $35,289.89 (-$1,383.90)
10/02/19: $33,624.85 (-$1,665.04)
Net Worth per Personal Capital:
03/04/19: -$30,065
07/05/19: -$21,711 ($8,294)
08/10/19: -$18,173 ($3,538)
09/01/19: -$12,615 ($5,558)
10/02/19: -$10,089 ($2,526)
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Student Loan Debt:
01/12/19: $43,762.76
02/01/19: $42,561.06 (-$1,201.70)
03/04/19: $41,418.69 (-$1,139.41)
07/05/19: $37,901.63 (-$3,517.06)
08/10/19: $36,673.79 (-$1,227.84)
09/01/19: $35,289.89 (-$1,383.90)
10/02/19: $33,624.85 (-$1,665.04)
Net Worth per Personal Capital:
03/04/19: -$30,065
07/05/19: -$21,711 ($8,294)
08/10/19: -$18,173 ($3,538)
09/01/19: -$12,615 ($5,558)
10/02/19: -$10,089 ($2,526)
Close to that tipping point of worthlessness
Sent from my Pixel 2 XL using Tapatalk
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After a turbulent few months I'm really pleased to see a balance of £2200 for 1st October. I think this is the most I have ever had in savings.
Plus I have a new full-time job which means I should see savings increase much quicker from now on. Feeling very positive.
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10/2/18 - $(2742.60)
10/29/18 - $(1899.81)
11/25/18 - $(1660.04)
12/31/18 - $245
3/14/19 - $(5,212)
3/31/19 - $(882.10)
4/25/19 - $(16,545.33)
5/29/19 - $(14,275.68)
6/28/19 - $(13,578)
7/26/19 - $(12,692)
8/23/19 - $(11,219)
10/4/19 - $(12,227.77)
Unemployment sucks! This figure isn't totally accurate either, it's about to get much worse because I'm going on my first Europe trip this Sunday for 16 days. Flights were dirt cheap and I have a friend in Italy, so things just aligned. Also, I have two tentative job offers waiting for me when I get back, so at least I won't lose too much ground. One of the jobs may have a significant raise for me, so less time will be needed to make up what I've spent.
If all goes to plan, I think I have a chance to be at $0 net worth in 6-8 months!
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Student Loan Debt:
01/12/19: $43,762.76
02/01/19: $42,561.06 (-$1,201.70)
03/04/19: $41,418.69 (-$1,139.41)
07/05/19: $37,901.63 (-$3,517.06)
08/10/19: $36,673.79 (-$1,227.84)
09/01/19: $35,289.89 (-$1,383.90)
10/02/19: $33,624.85 (-$1,665.04)
Net Worth per Personal Capital:
03/04/19: -$30,065
07/05/19: -$21,711 ($8,294)
08/10/19: -$18,173 ($3,538)
09/01/19: -$12,615 ($5,558)
10/02/19: -$10,089 ($2,526)
Close to that tipping point of worthlessness
Sent from my Pixel 2 XL using Tapatalk
My goal to be worthless is the end of January 2020, it will be an exciting day!
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10/2/18 - $(2742.60)
10/29/18 - $(1899.81)
11/25/18 - $(1660.04)
12/31/18 - $245
3/14/19 - $(5,212)
3/31/19 - $(882.10)
4/25/19 - $(16,545.33)
5/29/19 - $(14,275.68)
6/28/19 - $(13,578)
7/26/19 - $(12,692)
8/23/19 - $(11,219)
10/4/19 - $(12,227.77)
10/23/19 - $(16,630.17)
Had an absolute blast in Europe and managed to come in under $2,500 for the whole 16 day trip! The rest is all of November's rent expenses etc. making it look way worse.
The good news is that I'm getting a job that probably starts tomorrow or Friday! I'm not sure of my rate yet as my supervisor is currently getting permission to hire me as his assistant, but I'm reasonably confident it will at least be my previous rate, but hopefully more. Either way, I'll be good on funds through the end of the year, and I'll be able to start rebuilding my EF without issue. We'll see!x
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10/2/18 - $(2742.60)
10/29/18 - $(1899.81)
11/25/18 - $(1660.04)
12/31/18 - $245
3/14/19 - $(5,212)
3/31/19 - $(882.10)
4/25/19 - $(16,545.33)
5/29/19 - $(14,275.68)
6/28/19 - $(13,578)
7/26/19 - $(12,692)
8/23/19 - $(11,219)
10/4/19 - $(12,227.77)
10/23/19 - $(16,630.17)
Had an absolute blast in Europe and managed to come in under $2,500 for the whole 16 day trip! The rest is all of November's rent expenses etc. making it look way worse.
The good news is that I'm getting a job that probably starts tomorrow or Friday! I'm not sure of my rate yet as my supervisor is currently getting permission to hire me as his assistant, but I'm reasonably confident it will at least be my previous rate, but hopefully more. Either way, I'll be good on funds through the end of the year, and I'll be able to start rebuilding my EF without issue. We'll see!x
Congrats on the job offer! Were you able to secure a higher rate from your new employer? :)
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@TyGuy - I ended up taking a slight cut (of $50/wk) but the advantage is I plan to get lots of OT and sixth and seventh days at work where I make x1.5 per hour for 12 hours straight. And I have a guaranteed 12 so if I show up for 20 minutes I still get a full day's pay.
The downside is that I only have 3 days off between now and Thanksgiving, but that's actually kind of an advantage for me as I've been spending more now that everything is so accessible by bike. I'm also making 25% more than everyone else with my title because my coordinator is awesome. rates vary show to show so I'm happy with it because I get to work with good people.
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Great updates @cazio. Congrats on the new job. Remember to tighten those purse strings and hold on to that new extra money, so you can continue to make progress. It's tempting to backslide and spend more when you're feeling prosperous -- but don't! Keep thinking of yourself as 'poor', and chug forward. You can do it!
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Officially joining!
A few months ago, I had over 2k in credit card debt, over 9k in my car loan, and no 401K.
I've started to make some positive changes so I'm ready to start providing updates on trying to get to a net worth of 10K.
November 2019
Credit card: $521.24
Car loan: $7,868.05
401K: $604.75
I'm not going to include my checking or savings yet because I've basically been throwing all of that money towards the debts to pay them down quicker.
Net worth: -7,784.54
I also owe my brother about 10K (interest free), but not going to factor that in yet because he's made it clear he wants me to get myself together before I even think about paying him back.
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You're on your way, @cari8285! Keep chugging!
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@TyGuy - I ended up taking a slight cut (of $50/wk) but the advantage is I plan to get lots of OT and sixth and seventh days at work where I make x1.5 per hour for 12 hours straight. And I have a guaranteed 12 so if I show up for 20 minutes I still get a full day's pay.
The downside is that I only have 3 days off between now and Thanksgiving, but that's actually kind of an advantage for me as I've been spending more now that everything is so accessible by bike. I'm also making 25% more than everyone else with my title because my coordinator is awesome. rates vary show to show so I'm happy with it because I get to work with good people.
Sounds like you have yourself in a great position! Stay strong with you spending habits and you will be onto the next thread in no time! :)
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Officially joining!
A few months ago, I had over 2k in credit card debt, over 9k in my car loan, and no 401K.
I've started to make some positive changes so I'm ready to start providing updates on trying to get to a net worth of 10K.
November 2019
Credit card: $521.24
Car loan: $7,868.05
401K: $604.75
I'm not going to include my checking or savings yet because I've basically been throwing all of that money towards the debts to pay them down quicker.
Net worth: -7,784.54
I also owe my brother about 10K (interest free), but not going to factor that in yet because he's made it clear he wants me to get myself together before I even think about paying him back.
Welcome to the group, you have the right mentality, its only a matter of time until you achieve your goals!
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Student Loan Debt:
01/12/19: $43,762.76
02/01/19: $42,561.06 (-$1,201.70)
03/04/19: $41,418.69 (-$1,139.41)
07/05/19: $37,901.63 (-$3,517.06)
08/10/19: $36,673.79 (-$1,227.84)
09/01/19: $35,289.89 (-$1,383.90)
10/02/19: $33,624.85 (-$1,665.04)
11/04/19: $31,707.48 (-$1,917.37)
Net Worth per Personal Capital:
03/04/19: -$30,065
07/05/19: -$21,711 ($8,294)
08/10/19: -$18,173 ($3,538)
09/01/19: -$12,615 ($5,558)
10/02/19: -$10,089 ($2,526)
11/04/19: -$6,559 ($3,530)
Been cracking down on the spending this past month, and I am now on track to be worthless by the end of the year!
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Been cracking down on the spending this past month, and I am now on track to be worthless by the end of the year!
Crossing the Zero is huge, @TyGuy. I started way in the hole due to student loans and I still remember the day I became worthless. Great job -- you're almost there!
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Congratulations to everyone making progress in their savings goals.
I used to be a regular on this thread, and have seen a lot of progress since:
10/26/17 Our Total Networth: $11,303
9/15/18 Our Total Networth: $21,470
11/5/19 Our Total Networth: $49,512
Perseverance pays off!
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BoI savings a/c: 300.00
DiBa ETF: 1,623.22
CmzBank savings a/c: 4,000.00 (ok, not actually yet but I've transferred the money and it should show up by Monday)
Total: +5,923.22
Net: +5,923.22
With 1,100 in annual expenses/house maintenance and 1,000 in travel and still just over 200 in my current account.
BoI savings a/c: 150.00
DiBa ETF: 1,792.08
CmzBank savings a/c: 4,500.00
Total: +6,442.08
Net: +6,442.08
And 1,150 in annual expenses/house maintenance. Down to just 150 in my travel savings but am just back from 10 days away, have paid for tickets to go back to Ireland at Christmas and have paid my registration, hotel, and train for my annual trip to Halle in February, so it's all good.
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BoI savings a/c: 300.00
DiBa ETF: 1,623.22
CmzBank savings a/c: 4,000.00 (ok, not actually yet but I've transferred the money and it should show up by Monday)
Total: +5,923.22
Net: +5,923.22
With 1,100 in annual expenses/house maintenance and 1,000 in travel and still just over 200 in my current account.
BoI savings a/c: 150.00
DiBa ETF: 1,792.08
CmzBank savings a/c: 4,500.00
Total: +6,442.08
Net: +6,442.08
And 1,150 in annual expenses/house maintenance. Down to just 150 in my travel savings but am just back from 10 days away, have paid for tickets to go back to Ireland at Christmas and have paid my registration, hotel, and train for my annual trip to Halle in February, so it's all good.
Well done @Moonwaves ! You're doing great :)
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Time to get back to tracking the savings and pushing on to that 10K goal.
In March 2019 had about $3,800 but after a rough run of health and many unforeseen medical expenses over the last 6 months time to start climbing out of the hole.
11/15/2019 $ -5671.56
Not fun to be reset but happy to have a healthy family again. Plus DW and I have a plan to get us out of this hole and heading back towards the goal. Hoping this thread helps us keep our focus and we will be ready to jump into the 100k thread in a year from now.
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I like the attitude @jdhansen! You've got this. Keep on chugging and you will get there.
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November 2019
Credit card: $521.24
Car loan: $7,868.05
401K: $604.75
Net worth: -7,784.54
December 2019
Credit card: $208.72
Car loan: $7,719.02
401K: $1,072.31
Net worth: -6855.43 (+929.11)
Credit card will be completely paid off this month, and then I'll start throwing all excess money at that car loan. Woo!
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Awesome progress @cari8285
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Goddammit! Just checked my credit card balance online to make sure the payment had gone through and instead of plus twenty-ish euro (I rounded up the payment), it was minus almost ONE THOUSAND! Strange transaction for €998 has me questioning my sanity. I mean, I am sure I would remember buying something for that much but I'm still going round and round in my head wondering if I did accidentally order something I'm just not remembering.
Card has now been locked and I should get a new one in about a week. The credit card company has sent me an email with a form to fill out and then they will check with the vendor and, assuming the vendor can provide no proof of purchase, will refund me the money. I didn't think that was the way it worked, so now I'm anxious to see exactly what the form is that I have to fill out.
This is just exactly what I don't need. I am particularly hating my uncertainty - it's like I'm gaslighting myself!
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10/2/18 - $(2742.60)
10/29/18 - $(1899.81)
11/25/18 - $(1660.04)
12/31/18 - $245
3/14/19 - $(5,212)
3/31/19 - $(882.10)
4/25/19 - $(16,545.33)
5/29/19 - $(14,275.68)
6/28/19 - $(13,578)
7/26/19 - $(12,692)
8/23/19 - $(11,219)
10/4/19 - $(12,227.77)
11/30/19 - $($15,648)
Life is really trying to kick me in the ass. New job ended unexpectedly last week (long story, it was a political "firing" to stick it to my coordinator) so instead of being 2 paychecks ahead, I'm now going to end up behind unless the next show starts up before January (50/50 chance). Quarter-life crisis is hitting hard both for me and my close friends. Oh, and I went to highly recommended dentist who basically told me my previous dentist did not so great work (as I guessed) and I have to get probably $10k+ worth of work done, of which my insurance will cover $2k max. I've always had bad teeth but ugh.
My EF hasn't been this low since college and I'm seriously running the risk of using all of it between the dentist and covering rent for December and potentially January. I'm trying not to stress but things are really not lining up for me. I've been adamant about never falling back on family for financial help but I'm really cutting it close this time and I think I'm going to run negative.
Right now just getting to negative 10k net worth seems out of reach!
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Goddammit! Just checked my credit card balance online to make sure the payment had gone through and instead of plus twenty-ish euro (I rounded up the payment), it was minus almost ONE THOUSAND! Strange transaction for €998 has me questioning my sanity. I mean, I am sure I would remember buying something for that much but I'm still going round and round in my head wondering if I did accidentally order something I'm just not remembering.
Card has now been locked and I should get a new one in about a week. The credit card company has sent me an email with a form to fill out and then they will check with the vendor and, assuming the vendor can provide no proof of purchase, will refund me the money. I didn't think that was the way it worked, so now I'm anxious to see exactly what the form is that I have to fill out.
This is just exactly what I don't need. I am particularly hating my uncertainty - it's like I'm gaslighting myself!
This happened to me once. Someone in Buffalo, NY had charged 150 stethoscopes to my CC.
Bank to Dicey: "Are you sure you didn't buy 180 stethoscopes?
Dicey to bank: "What would I do with even one?"
It was corrected in relatively short order. Hope yours is, too.
I'd like to believe it was some kind of altruistic medical Robin Hood, but I rather doubt it.
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10/2/18 - $(2742.60)
10/29/18 - $(1899.81)
11/25/18 - $(1660.04)
12/31/18 - $245
3/14/19 - $(5,212)
3/31/19 - $(882.10)
4/25/19 - $(16,545.33)
5/29/19 - $(14,275.68)
6/28/19 - $(13,578)
7/26/19 - $(12,692)
8/23/19 - $(11,219)
10/4/19 - $(12,227.77)
11/30/19 - $($15,648)
Life is really trying to kick me in the ass. New job ended unexpectedly last week (long story, it was a political "firing" to stick it to my coordinator) so instead of being 2 paychecks ahead, I'm now going to end up behind unless the next show starts up before January (50/50 chance). Quarter-life crisis is hitting hard both for me and my close friends. Oh, and I went to highly recommended dentist who basically told me my previous dentist did not so great work (as I guessed) and I have to get probably $10k+ worth of work done, of which my insurance will cover $2k max. I've always had bad teeth but ugh.
My EF hasn't been this low since college and I'm seriously running the risk of using all of it between the dentist and covering rent for December and potentially January. I'm trying not to stress but things are really not lining up for me. I've been adamant about never falling back on family for financial help but I'm really cutting it close this time and I think I'm going to run negative.
Right now just getting to negative 10k net worth seems out of reach!
Hang in there, @cazio, it will get better. Maybe look into dental tourism. Google "Los Algodones".
Bad teeth due to heredity is not your fault.
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Student Loan Debt:
01/12/19: $43,762.76
02/01/19: $42,561.06 (-$1,201.70)
03/04/19: $41,418.69 (-$1,139.41)
07/05/19: $37,901.63 (-$3,517.06)
08/10/19: $36,673.79 (-$1,227.84)
09/01/19: $35,289.89 (-$1,383.90)
10/02/19: $33,624.85 (-$1,665.04)
11/04/19: $31,707.48 (-$1,917.37)
12/08/19: $30,043.85 (-$1,663.63)
Net Worth per Personal Capital:
03/04/19: -$30,065
07/05/19: -$21,711 ($8,294)
08/10/19: -$18,173 ($3,538)
09/01/19: -$12,615 ($5,558)
10/02/19: -$10,089 ($2,526)
11/04/19: -$6,559 ($3,530)
12/08/19: -$1,673 ($4,886)
I'm so close to having a positive next worth, I should be there with the next paycheck thanks to some help from the stock market this past month! Excited to see what the new year brings for everyone here!
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I haven’t posted in ages, because we had some expenses (both planned and unplanned) and we went backwards. It’s felt a bit like a roller coaster. When I finally stopped hiding my head in the sand yesterday and graphed it out, I can see why it felt like that!
(The big middle spike was a three pay month, with the equivalent three rent payments etc, not a windfall matched by lifestyle creep).
(http://)
Back on the horse, determined not to let the expenses get the better of us! Mr is in the wedding party for a black tie wedding overseas, and already we ve spent more on it than on our own wedding (mostly because of flights). We’ve put our foot down and said we aren’t paying for anything else for the wedding, and if they want him to wear matching cuff links or whatever they need to pay for it.
Clawed our way back to +6k... only another 2k until I can go back to colouring my tracker wall -_-
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Great update @TyGuy! Looks like Santa (a/k/a your past self) will have something very nice for you this year. :)
Welcome back @Yasha! Your charts are the best. The wedding expenses are a one time bump in the road. Keep on driving!
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Anyone mind if I join?
Currently structuring this as a goal to have make the amount we have in savings (spread across 10k e-fund, home downpayment fund, and a few various sub accounts I keep for planning purposes - gifts, car repairs, vet emergencies) more than the amount we owe in debt (one car loan and our student loans.) I'm not including retirement accounts or car values in my calculations, as I like playing the mental game with myself of "if I had to tomorrow, how much debt would be left with if we cleared out everything we had on hand?" Hope to cross the barrier to zero halfway through 2020, with a stretch goal of making it to +10k before the year is out.
I put my mileage check each month towards my car (usually 100-200 a month), and we're currently targeting the highest rate student loan ($5330/6.8%) with my husband's overtime pay. Hope to get at least this loan paid off in 2020, as it's the last one with an interest rate above 5%. Taking it one loan at a time, as the overall number is depressing, lol.
Sept 2019:
Starting Debt: $60,811.05
Starting savings: $46,123.39
Where it stands: (-14,687.66)
December '19:
Debt: $57,540.39
Savings: $47,932.67
Where it stands: (-$9,607.72)
A little over 5k swing in three months! Sometimes it's encouraging to look at a bigger picture rather than the day-to-day.
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Welcome @mactastic ! You're making some great progress. With that slay-the-debt work ethic you'll be crossing over into positive territory before you know it.
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Welcome @mactastic ! You're making some great progress. With that slay-the-debt work ethic you'll be crossing over into positive territory before you know it.
What she said!
FYI no one has to ask to join this group. The more the merrier!
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BoI savings a/c: 150.00
DiBa ETF: 1,792.08
CmzBank savings a/c: 4,500.00
Total: +6,442.08
Net: +6,442.08
And 1,150 in annual expenses/house maintenance. Down to just 150 in my travel savings but am just back from 10 days away, have paid for tickets to go back to Ireland at Christmas and have paid my registration, hotel, and train for my annual trip to Halle in February, so it's all good.
It's been a bit of a careless with money time recently. Not that I'm going mad buying expensive things, just that drip, drip of frittering it away by not bringing lunches to work, and actually attending a couple of social events and that kind of thing. The mysterious €998 charge on my credit card had not been cleared up by the time the invoice came due, so I had to pay more than was budgeted for. I just checked and the refund has now gone through so that payment I made (my minimum payment is 1/5 of the total due) will now go to cover what I have used/will use the card for this month. Pain in the neck bank won't refund me the interest that arose though. Or at least, I'd have to make a written complaint and honestly my time is worth more than the not quite €5 of interest. I'll give myself a couple of weeks to moan about it if anyone asks and then just forget about it and be happy I at least got the €998 refunded relatively quickly and easily.
BoI savings: 100.00
DiBa ETF: 1,932.66
CmzBank savings a/c: 4,600.00
Total: +6,632.66
Net: +6,632.66
With 1,000 in my annual expenses account and 300 in travel I'm not doing too badly really. I've already sent money to the sister I'll be staying with over Christmas to cover groceries so apart from a couple of things like fresh milk this week and, I think, two dinners out while I'm away, I don't really have anything else I need to spend on this year.
I also got my annual statement from the state pension people last week. If I keep working and paying in at approx. the same rate until I'm 67, I can expect to get just over 1,300 per month. Assuming the German state is still paying pensions at that stage. I don't plan on working full-time for that long but it's always nice to know that if I needed to, at least the state pension would in fact most likely cover all of my basic expenses. It's interesting to note that in the past eleven years, I've paid in over €45,000, though, and the same from my employers. At €286 per month, it's not a small chunk of change (for anyone wondering, my gross salary per month is €2,963 and my statutory tax and social insurance deductions are €1,106). I don't include that money in my savings rate but it's somewhat reassuring to know that there are some good reasons why I don't have a lot of money left over to save every month.
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Joining the race to $10k, it will take some time.
12/17/19: $21,427.67
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11/15/2019 $ -5671.56
12/18/2019 $ -4174.34
Had a good month and made the expected progress. Of course now my car is acting up with random misfire errors and I've fixed everything I can. Hopefully, it just something minor I don't have the skills to diagnose. But it always seems to be expensive.
Fingers crossed we stay on track or don't fall to far back down.
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Joining the race to $10k, it will take some time.
12/17/19: $21,427.67
Welcome to the thread, we are happy to have you here with us!
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Student Loan Debt:
01/12/19: $43,762.76
02/01/19: $42,561.06 (-$1,201.70)
03/04/19: $41,418.69 (-$1,139.41)
07/05/19: $37,901.63 (-$3,517.06)
08/10/19: $36,673.79 (-$1,227.84)
09/01/19: $35,289.89 (-$1,383.90)
10/02/19: $33,624.85 (-$1,665.04)
11/04/19: $31,707.48 (-$1,917.37)
12/08/19: $30,043.85 (-$1,663.63)
Net Worth per Personal Capital:
03/04/19: -$30,065
07/05/19: -$21,711 ($8,294)
08/10/19: -$18,173 ($3,538)
09/01/19: -$12,615 ($5,558)
10/02/19: -$10,089 ($2,526)
11/04/19: -$6,559 ($3,530)
12/08/19: -$1,673 ($4,886)
12/22/19: +$237 ($1,910)
I'm so very excited that I couldn't wait until next month to post. As of this past Friday, I have reached a positive net worth for the first time in my life! I'm very excited for the coming year. I hope everyone has a good end to the year and a great start to 2020! See you all next year :)
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I'm so very excited that I couldn't wait until next month to post. As of this past Friday, I have reached a positive net worth for the first time in my life! I'm very excited for the coming year. I hope everyone has a good end to the year and a great start to 2020! See you all next year :)
Congrats @TyGuy!!!!!!!!!!!!!!!!!!!!!!
(https://media1.giphy.com/media/26FL4fdR9oRs2tdEA/giphy.webp?cid=790b7611643e22a8960254068ff063acabe0f7ba8b646f90&rid=giphy.webp)
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@Trifele Thank you for your consistent support!
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I wish to greet everyone Happy Holidays !
Let's keep on saving guys for the upcoming 2020! :)
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10/2/18 - $(2742.60)
10/29/18 - $(1899.81)
11/25/18 - $(1660.04)
12/31/18 - $245
3/14/19 - $(5,212)
3/31/19 - $(882.10)
4/25/19 - $(16,545.33)
5/29/19 - $(14,275.68)
6/28/19 - $(13,578)
7/26/19 - $(12,692)
8/23/19 - $(11,219)
10/4/19 - $(12,227.77)
11/30/19 - $(15,648)
12/27/19 - $(12,288)
Positive progress to end the year! Feeling ready for 2020.
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Congrats @TyGuy !!
@Moonwaves are you also paying into a company pension? I know most people don't take them into account on MMM but I think company pensions are much better funded in this part of the world.
I just got a statement from my company pension in the mail because they're changing the terms and if I keep paying in I'm looking at €1500/month in state and company pension. My plan is to probably not continue to work until I'm at 25x annual expenses but until I've paid enough into my pensions to have a reasonable income and have enough money to cover the period in between + a bit extra.
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Student Loan Debt:
01/12/19: $43,762.76
02/01/19: $42,561.06 (-$1,201.70)
03/04/19: $41,418.69 (-$1,139.41)
07/05/19: $37,901.63 (-$3,517.06)
08/10/19: $36,673.79 (-$1,227.84)
09/01/19: $35,289.89 (-$1,383.90)
10/02/19: $33,624.85 (-$1,665.04)
11/04/19: $31,707.48 (-$1,917.37)
12/08/19: $30,043.85 (-$1,663.63)
Net Worth per Personal Capital:
03/04/19: -$30,065
07/05/19: -$21,711 ($8,294)
08/10/19: -$18,173 ($3,538)
09/01/19: -$12,615 ($5,558)
10/02/19: -$10,089 ($2,526)
11/04/19: -$6,559 ($3,530)
12/08/19: -$1,673 ($4,886)
12/22/19: +$237 ($1,910)
I'm so very excited that I couldn't wait until next month to post. As of this past Friday, I have reached a positive net worth for the first time in my life! I'm very excited for the coming year. I hope everyone has a good end to the year and a great start to 2020! See you all next year :)
@TyGuy Phenomenal!
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Helloooo I'm back!
Since I last checked in, I (1) closed on my house, (2) moved, (3) bought a car (did not previously have one and needed one in my new city), and (4) got a new job, which I will start this month.
The move and my home have been incredible. I am amazed by how much those choices have improved my quality of life. I am so happy I did it and I am loving both my house and, believe it or not, commuting (via train! I read or nap! it's great). And I am really excited about the new job. I always expected that I would have to take a huge paycut in my next job, but I won't after all -- in fact, my base salary will be higher! All in all, I am a little overwhelmed with how well things have been going for the last few months. Feeling way too lucky and trying to resist the urge to expect bad things to come balance it out...
Financially, here's where I'm at after all of that:
1/1/2018: $(170,956.12)
2/1/2018: $(166,849.63)
3/1/2018: $(161,395.88)
4/1/2018: $(156,590.44)
5/1/2018: $(152,997.61)
6/1/2018: $(149,175.48)
7/1/2018: $(143,748.22)
8/1/2018: $(138,734.38)
9/1/2018: $(135,043.66)
10/1/2018: $(131,441.14)
11/1/2018: $(133,372.50)
12/1/2018: $(128,081.25)
1/1/2019: $(80,750.78)
2/1/2019: $(73,422.02)
3/1/2019: $(60,122.64)
4/1/2019: $(54,342.22)
5/1/2019: $(48,858.05)
6/1/2019: $(49,269.97)
7/1/2019: $(29,802.87)
8/1/2019: $(25,751.08)
...
1/1/2020: $(4,873.13)
So close! I have been, uh, not especially Mustachian in furnishing my new home (the Diderot effect is...........very powerful for me). But aside from a couple small remaining projects, I'm pretty much done spending money on my house for a while (knock on wood!), and ready to return to more frugal ways. Progress ahead!
Happy New Year to you all!
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@mckaylabaloney The good times are going to keep coming, especially as your nearly positive net worth grows and snowballs! Congratulations on the new Job and house, I anticipate I will spend a fair amount of cash initially fixing up a house, but I'm okay with that as a home brings me a lot of joy and happiness!
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Happy New Year everyone!
Since I last checked in, I (1) closed on my house, (2) moved, (3) bought a car (did not previously have one and needed one in my new city), and (4) got a new job, which I will start this month.
The move and my home have been incredible. I am amazed by how much those choices have improved my quality of life. I am so happy I did it and I am loving both my house and, believe it or not, commuting (via train! I read or nap! it's great). And I am really excited about the new job. I always expected that I would have to take a huge paycut in my next job, but I won't after all -- in fact, my base salary will be higher! All in all, I am a little overwhelmed with how well things have been going for the last few months. Feeling way too lucky and trying to resist the urge to expect bad things to come balance it out...
Congratulations on all the positive happenings. I know the feeling when it seems like there's too much good happening (as if there can really ever be too much good) but just try to make the most of all the positive. Your update made me smile this morning - I love hearing about when things are working out for people.
12/22/19: +$237 ($1,910)
I'm so very excited that I couldn't wait until next month to post. As of this past Friday, I have reached a positive net worth for the first time in my life!
Well done!
Moonwaves are you also paying into a company pension? I know most people don't take them into account on MMM but I think company pensions are much better funded in this part of the world.
I just got a statement from my company pension in the mail because they're changing the terms and if I keep paying in I'm looking at €1500/month in state and company pension. My plan is to probably not continue to work until I'm at 25x annual expenses but until I've paid enough into my pensions to have a reasonable income and have enough money to cover the period in between + a bit extra.
Although I'm not a civil servant (Beamtin), I do work for for state so I have to pay into their version of a company pension. Since I've only been here for just over three years (and was part-time for a lot of that) I think I'm only up to about €4/month worth of pension. I have two other pension pots from companies I used to work for in Ireland. I don't count any of that money towards my net worth here but I might start once I get out of this thread and into the race to 100k - it would give me a nice head start there. :-) I haven't checked for a while and try to only look once a year but from memory it was at about 45k last time I did check. I will also have a small Irish state pension (the level I have would be about 150/week) so I do think I'll be ok once I get to normal retirement age. As you say, it's the inbetween bit that needs to be covered. It's all still a bit intangible for me so I'm just trying to concentrate on saving. Goal for 2020 is to save all of my side income.
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01/12/19: $43,762.76
02/01/19: $42,561.06 (-$1,201.70)
03/04/19: $41,418.69 (-$1,139.41)
07/05/19: $37,901.63 (-$3,517.06)
08/10/19: $36,673.79 (-$1,227.84)
09/01/19: $35,289.89 (-$1,383.90)
10/02/19: $33,624.85 (-$1,665.04)
11/04/19: $31,707.48 (-$1,917.37)
12/08/19: $30,043.85 (-$1,663.63)
01/03/20: $28,335.39 (-$1,708.46)
Net Worth per Personal Capital:
03/04/19: -$30,065
07/05/19: -$21,711 ($8,294)
08/10/19: -$18,173 ($3,538)
09/01/19: -$12,615 ($5,558)
10/02/19: -$10,089 ($2,526)
11/04/19: -$6,559 ($3,530)
12/08/19: -$1,673 ($4,886)
12/22/19: $237 ($1,910) (First day of having a positive net worth)
01/03/20: $1,447 (1,210)
First update of the year, within a few months I will be reaching another big milestone in paying my students loans down to 50% of the original amount. Life is sure to happen later this year effecting my net worth, but I'm excited to continue to grow stache. Happy New Year Everyone!
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November 2019
Credit card: $521.24
Car loan: $7,868.05
401K: $604.75
Net worth: -7,784.54
December 2019
Credit card: $208.72
Car loan: $7,719.02
401K: $1,072.31
Net worth: -6855.43 (+929.11)
January 2020
Credit card: 0.00
Car loan: $7,567.96
401K: $1,411.37
Net worth: -6,156.59 (+698.84)
I'm planning on selling my car by the end of the month (hopefully) which will cut the car loan down by about half.
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@cari8285 congrats on getting the credit card debt down to $0, that's a big first step!
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@cari8285 congrats on getting the credit card debt down to $0, that's a big first step!
Seconded, great progress Cari!
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You've got it @Rimu05 -- track your spending, and use your frugality muscles to avoid buying stuff. Sounds like you're on the right track to examine your habits and where they lead you into trouble. You can do it!
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Thanks for the warm welcome, everyone! I love how supportive this thread is :)
Sept 2019:
Starting Debt: $60,811.05
Starting savings: $46,123.39
Where it stands: (-14,687.66)
Targeted student loan balance: $5463
January 2020:
Total debt: $54,424.86
Total savings: $51,759.52
Where it stands: (-2,665.24)
Targeted student loan balance: $4050
December was REALLY good to us - I got a decent bonus check, and my husband's overtime was insane. This is the first time ever we've been a household making six figures, and we're trying really hard to keep living at our old standard of living while we pay this debt off and save a decent downpayment for a house. Gonna shift priorities a bit over the next few months, as my parents have offered to sell us their car (90k fewer miles than my husband's current car) for about half of what it's worth. We'll be stockpiling cash to hopefully buy it outright this summer.
Keep fighting the good fight, everybody!
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I don't want to revisit old posts that I made here but going to start a fresh. Maybe one day I will link them but here we go. I am focusing on paying debt more than increasing my income.
Student loan - (26,503.71)
Car Loan - (1325.77)
Credit card debt - 1413.68
Savings - $50
Checking - $110
401K - 18, 323 (Or something like that)
Goals - Pay off car loan and credit card debt by April. Have a $2000 emergency fund by end of June.
I don't think it will be a good money year for me based on expenses I need to budget for
Insurance due in April - $600
New laptop as my nine year lap top has been acting up in terms of the track pad - (1,000)
Registration for CFA level 2 in june - I did not want to take it this year but ($1200 for materials and exam) If I pass my company reimburses which is good.
Lease ends in June - Need to look for another apartment.
I feel like I haven't made much of a dent in terms of debt payment. So focusing way more on that. I want my student loans gone!
Update soon after, but I normally update mid month.
Student loan - (26,503.71)
Credit card debt - 1000 (0% until 2020)
Savings - $400
Checking - $167
401K - 20530.55
Car loan is paid off and that was far more anticlimactic than I expected.
Truly the swahili saying that "Chovya Chovya humaliza buyu la asali" while used as a word of caution actually works for debt. Paying little by little lessens the balance. Literal translation:constant dipping finishes the pot of honey.
Also a great proverb for wasteful spending too.
Paid of a bunch of things using credit card. Insurance, car expense, vacation and debt has climbed.
Student loan - ($26,281.19)
Credit card debt - 3000 (0% until 2020)
Savings - $1300
Checking - $447
401K - 20530.55
It feels like I haven't made any progress even though I have. Unfortunately, credit card is higher than I'd like it to be. My only saving grace was paying off my car earlier this year
Student loan - ($25,603.82)
Credit card debt - 5000 (0% until 2020)
Savings - $2600
Checking - $600
401K - 23,277.66.55
Total - (4,126.17)
I accidentally deleted my previous post... Oh well, update
Student loan - ($24,871.7)
Credit card debt - 5500
Savings - $900
Checking - $200
401K - 26,696.66.55
Roth IRA - 810
Total - (1,590)
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Ok i'll bite. I knew about MMM for years and did nothing about it. When 2020 hit I realised I'm not 21 anymore and have almost no savings at 32 years old. So I started reading MMM and coming up with my plan.
I found the $2M to $4M thread and posted in there as I was so excited that people like that are on MMM. I thought it was all about people who wanted to save $500K and then live off $25K/year. So I was very wrong haha!
Anyhow. I posted my story on there about my road to $3M that I'm now starting. Got a bit of backlash as expected when posting about something like that with about $5K in the bank. But also encouragement. Someone recommended I take a look at this thread.
My full journal is here:
https://forum.mrmoneymustache.com/journals/dominik's-journey-to-$3mm-d/ (https://forum.mrmoneymustache.com/journals/dominik's-journey-to-$3mm-d/)
It's super detailed about how I've done very well in the past. Traveled for years running an online business being in a new country and city each month. Sold over seven figures on Amazon with a business in the past. And done well with other stuff also. And the other side of things that were not so nice like the income dropping down a LOT and fast and getting sick for a long time. The issue for me has always been keeping the money. Not making it. That's why I'm at MMM to change my ways.
So this is the right place for me to mingle until I get to the $10K and move to the next challenge. It's really good to read others stories in here as I see what others post about. I reaslie now I've not added a few things in that I should be adding with some small debts.
Right now I have my living costs covered from my small online business that brings in about $3k/m. Where I live now I literally live off about $1,200. About $800 goes into my business to maintain the income. About $300 goes towards a side project to create a new income stream that is long term. So I've had about $1,000 spare to play with a month. When I had no plan that was just being blow on eating out or other expenses.
For example recently I had to renew my visa to live in Thailand and that was $2,000 for the year roughly. And I had to fly to Malaysia from Thailand to even be allowed to renew the visa. You have to leave and come back before you can apply again. So spent 3 nights in Kuala Lumpur in hotels and all the costs for that was $500 extra onto so $2,500 all up.
So something has 'always' come up. It seemed to be never ending month in month our. The bank balance staying the same. Now that's changed though and I'm saving. Dropping weight also and getting fit so no more food delivery from Uber Eats and other food deliver apps every night checking though cash. Shopping and cooking is much cheaper! Once a week I take a day off and eat what I want for the mental sainty side of things. So a bit more money spent on that day but a lot less vs eating out daily or multiple times a day.
I've also recently started a new small online business that's doing about $2K/m gross. My goal is to get it to $10K/m profit by mid year. That's my stepping stone to really kick-start things in 2020. That's really where my savings has come from these last few months as I didn't have much before. And I was slowly testing things so there was no need to reinvest it. A bit of a life saver really as I had no savings a while back.
My numbers as of Feb 1st as I have many business costs and money that will also come in over the next two weeks. It's just easier to figure it out for what will happen on the 1st of next month:
I'm from Australia originally but everything I earn and spend is in $USD.
Assets:
Cash - $5K
Super - $19.3K (Super or superannuation is the Australian word for 401k)
Debts:
Accountants - $310
Company Renewal - $425
The accountants charge me about $60/m and have been kind enough to let me pay down my balance every three months with about a $275 payment. It was originally about $1,000. And the company renewal is the same story. They were nice enough to let me do a renewal for the year and segment it.
So it's not much and I'll get it paid down. I'm dealing with good people so I don't have to do it right away. In a few months I'll get it paid off in full as I'd rather put cash into my new business that's moving fast.
I really shouldn't count the Super. I won't add it into future post as I'm 33 in about 6 weeks so I've got 32 years to go until I can access it at 65 or 25 years after I start FIRE as I plan to start FIRE at 40.
I've also got old taxes I've not filed that I need to get on top of. And who knows what that is going to be. It might even be something like $30K owed. When my cashflow situation is better and I can pay it down at say $5K/m without it impacting the growth of the businesses I'll get it sorted.
Luckily one is my final tax filing in Australia so there isn't much they will do trying to slap on fees as I know it won't be more than about $5K to $7K and I when I do file I should be able to pay it off right away in full. The others are from past years with LLC in USA and again, luckily, I don't pay tax in USA. It will be flow through tax to me in another country via a tax treaty so the accountant told me there shouldn't be penalties on that as it's literally just paper work in USA and the taxes are owned elsewhere.
Over the coming months if my numbers are right I should get to $8.2K by April 1st. Up from $5K but I'm going to stay at $5K instead. I'm going to up that $300 to $1000 starting in Feb for the small longer term business to really move it forward. And the other $1,800 I'll use to boost up the business I've started that's doing $2K/month gross as I have a serious goal with that to hit $10K/month net by mid year as that's my foundation to really move forward and fast.
So that's me! Wish me luck! I'll keep checking in and posting updates as they happen.
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Welcome aboard dominikm. Sounds like you have a solid plan to move forward with. Just be ready for the fun that life always throws at you and stick with the plan and you will make it.
January update. We survived the car drama and then the flu. We even made a little more progress on the Journey at the same time. New pay raises kick in for me and DW starting next month so maybe we can get this process accelerated as well. Either way, we should be back on track come February.
11/15/2019 $ -5671.56
12/18/2019 $ -4174.34
01/18/2020 $ -4162.83
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Welcome aboard dominikm. Sounds like you have a solid plan to move forward with. Just be ready for the fun that life always throws at you and stick with the plan and you will make it.
January update. We survived the car drama and then the flu. We even made a little more progress on the Journey at the same time. New pay raises kick in for me and DW starting next month so maybe we can get this process accelerated as well. Either way, we should be back on track come February.
11/15/2019 $ -5671.56
12/18/2019 $ -4174.34
01/18/2020 $ -4162.83
Thanks! And I know that 'fun' all to well as we all do right! I'm so happy to be here now as I have a plan to stick to instead of just churning and burning cash as it comes in being an idiot haha.
Looks like you've had some good progress in the last few months yourself to. Happy days!
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BoI savings: 100.00
DiBa ETF: 1,932.66
CmzBank savings a/c: 4,600.00
Total: +6,632.66
Net: +6,632.66
Finally got the bulk of the outstanding invoices from last year paid so once again I feel like I'm making progress. It is nice to get a boost from side income every once in a while - it goes so slowly when it's just my normal savings. Still hold tight to the fact that everything I save is better than spending, though.
BoI savings: 100.00
DiBa ETF: 2,051.52 (passed the 2,000 mark!)
CmzBank savings a/c: 5,000.00 (Somewhat arbitrary amount for emergency fund fully funded, woohoo!)
Total: +7,151.52
Net: +7,1512.52
I will continue to use the EF account to save but everytime I get a certain amount, I will use it to invest. Have to figure out fees etc. - currently the only investing I do is via a savings plan so now is the time to figure out how the individual transactions side of things work. I think a lot of the cheaper/zero-fee/special offer options are for investing at least 1,000 at a time, so I have a bit of time before I need to actually do anything.
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BoI savings: 100.00
DiBa ETF: 1,932.66
CmzBank savings a/c: 4,600.00
Total: +6,632.66
Net: +6,632.66
Finally got the bulk of the outstanding invoices from last year paid so once again I feel like I'm making progress. It is nice to get a boost from side income every once in a while - it goes so slowly when it's just my normal savings. Still hold tight to the fact that everything I save is better than spending, though.
BoI savings: 100.00
DiBa ETF: 2,051.52 (passed the 2,000 mark!)
CmzBank savings a/c: 5,000.00 (Somewhat arbitrary amount for emergency fund fully funded, woohoo!)
Total: +7,151.52
Net: +7,1512.52
I will continue to use the EF account to save but everytime I get a certain amount, I will use it to invest. Have to figure out fees etc. - currently the only investing I do is via a savings plan so now is the time to figure out how the individual transactions side of things work. I think a lot of the cheaper/zero-fee/special offer options are for investing at least 1,000 at a time, so I have a bit of time before I need to actually do anything.
Congrats, Moonwaves! That €10,000 station is coming into view.
You can look into no-load, low ER index mutual funds that might allow smaller increments than €1,000, and automatic transfers from your paycheck. That would take a step out of your investment process.
-
12/17/19: $21,427.67
01/26/20: $17,755.45
Moving in the right direction but taxes are coming up at the end of February, that may set me back significantly.
-
10/2/18 - $(2742.60)
10/29/18 - $(1899.81)
11/25/18 - $(1660.04)
12/31/18 - $245
3/14/19 - $(5,212)
3/31/19 - $(882.10)
4/25/19 - $(16,545.33)
5/29/19 - $(14,275.68)
6/28/19 - $(13,578)
7/26/19 - $(12,692)
8/23/19 - $(11,219)
10/4/19 - $(12,227.77)
11/30/19 - $(15,648)
12/27/19 - $(12,288)
1/27/20 - $(17,036)
Stomped lol. Got hit with that dental bill, unemployed for January, but starting a new 5-week gig next week with a $800/mo raise. Made less than anticipated last year, but hopefully that means a significant tax refund to bump me back to where I need to be. Hoping like hell this is the tough part of the year. :/
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You can look into no-load, low ER index mutual funds that might allow smaller increments than €1,000, and automatic transfers from your paycheck. That would take a step out of your investment process.
Yes, that's the savings plan I use at the moment, as it allows just €50 per month. To make a one-off purchase, even of the same ETF fund, a lot of them have seem to have a minimum of x amount. The bank I currently use does special offers a couple of times a year though, where you can buy with no-fee, and that usually has a €1,000 or €2,500 minimum. Since it would take me a while to save that much anyway, I'm going to use my savings account to accumulate that much and then when the special offers come up, I can take advantage.
In other news, I had forgotten that we were due a pay raise (3.2% of salary or min. €90/month, whichever is higher) from this month. So, I will have €53 extra per month to play with. For the first time ever, even before I have received that extra money for the first time, I have diverted it to investments. I set up a second ETF savings plan, but this time for bonds, rather than stocks. And I saw that my bank has started offering a rounding service and I activated that, too. For every card purchase, the amount rounding up to the nearest euro will be transferred to savings.
It feels a bit weird to have had an entire year without any major money emergencies or dramas or unexpectedness.
-
You can look into no-load, low ER index mutual funds that might allow smaller increments than €1,000, and automatic transfers from your paycheck. That would take a step out of your investment process.
Yes, that's the savings plan I use at the moment, as it allows just €50 per month. To make a one-off purchase, even of the same ETF fund, a lot of them have seem to have a minimum of x amount. The bank I currently use does special offers a couple of times a year though, where you can buy with no-fee, and that usually has a €1,000 or €2,500 minimum. Since it would take me a while to save that much anyway, I'm going to use my savings account to accumulate that much and then when the special offers come up, I can take advantage.
In other news, I had forgotten that we were due a pay raise (3.2% of salary or min. €90/month, whichever is higher) from this month. So, I will have €53 extra per month to play with. For the first time ever, even before I have received that extra money for the first time, I have diverted it to investments. I set up a second ETF savings plan, but this time for bonds, rather than stocks. And I saw that my bank has started offering a rounding service and I activated that, too. For every card purchase, the amount rounding up to the nearest euro will be transferred to savings.
It feels a bit weird to have had an entire year without any major money emergencies or dramas or unexpectedness.
Congratulations on your progress! Just popping in from the other side of the FIRE journey. One thing I regret in hindsight is being too conservative in the early accumulation years. Since your horizon is presumably long, you have lots of time for your investments to recover in case of a severe market downturn. I would seriously consider avoiding bonds just yet. Based on my own experience, I'd continue stuffing the ETF, because growth is what gets you there fastest.
When I was just starting out, I was afraid of losing a penny. Now, I understand that when the market dips, it's like my favorite store is having a sale. It's a chance to get more shares at a discounted price. Dips in the market are opportunities, not something to be feared. I wish I'd understood that then and been less fearful.
In 2008, I decided to really put the pedal to the metal and ratchet my savings up so I could GTFO. I saved until it hurt. I put everything into equities, even though the market wasn't doing so hot. As the stock market recovered, I was amazed at how much my 'stache ballooned! I still consider it my best financial move ever.
Just sharing things I wish someone had told me way back when. Best of luck to you In your journey to financial freedom!
-
You can look into no-load, low ER index mutual funds that might allow smaller increments than €1,000, and automatic transfers from your paycheck. That would take a step out of your investment process.
Yes, that's the savings plan I use at the moment, as it allows just €50 per month. To make a one-off purchase, even of the same ETF fund, a lot of them have seem to have a minimum of x amount. The bank I currently use does special offers a couple of times a year though, where you can buy with no-fee, and that usually has a €1,000 or €2,500 minimum. Since it would take me a while to save that much anyway, I'm going to use my savings account to accumulate that much and then when the special offers come up, I can take advantage.
In other news, I had forgotten that we were due a pay raise (3.2% of salary or min. €90/month, whichever is higher) from this month. So, I will have €53 extra per month to play with. For the first time ever, even before I have received that extra money for the first time, I have diverted it to investments. I set up a second ETF savings plan, but this time for bonds, rather than stocks. And I saw that my bank has started offering a rounding service and I activated that, too. For every card purchase, the amount rounding up to the nearest euro will be transferred to savings.
It feels a bit weird to have had an entire year without any major money emergencies or dramas or unexpectedness.
Congratulations on your progress! Just popping in from the other side of the FIRE journey. One thing I regret in hindsight is being too conservative in the early accumulation years. Since your horizon is presumably long, you have lots of time for your investments to recover in case of a severe market downturn. I would seriously consider avoiding bonds just yet. Based on my own experience, I'd continue stuffing the ETF, because growth is what gets you there fastest.
When I was just starting out, I was afraid of losing a penny. Now, I understand that when the market dips, it's like my favorite store is having a sale. It's a chance to get more shares at a discounted price. Dips in the market are opportunities, not something to be feared. I wish I'd understood that then and been less fearful.
In 2008, I decided to really put the pedal to the metal and ratchet my savings up so I could GTFO. I saved until it hurt. I put everything into equities, even though the market wasn't doing so hot. As the stock market recovered, I was amazed at how much my 'stache ballooned! I still consider it my best financial move ever.
Just sharing things I wish someone had told me way back when. Best of luck to you In your journey to financial freedom!
Well, I'm forty-five already, doesn't feel like any horizons are long anymore.
It's more of a psychological thing, I'm afraid. I just want to have a little bit of diversity. I'm thinking I'll probably stop the bonds savings plan after I have a bit saved and divert everything to the stocks then. I know it doesn't make sense from a mathematical point of view but that's where I'm at at the moment. Meet you back here in fifteen years so you can say "I told you so?" :-)
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Hi all,
I'm a long time reader of the forum and had planned to track my progress in this thread upon starting to work in the summer of 2018 after graduating. I feel like the positivity and encouragement in this thread is really awesome and had anticipated that posting regularly would help me keep myself accountable.
It took a bit to get into the groove of things of working life and some personal stuff happened simultaneously as well, so I never got around to actually posting here and graduated from the thread without actually participating. :/ Before moving on to the race to 100k however, I thought it would still be nice to document my progress in 2019 here, so here goes:
Assets:
01/01/2019: 3.914,63 €
01/02/2019: 4.106,10 € (+ 101,47 €)
01/03/2019: 4.359,75 € (+ 343,65 €)
01/04/2019: 4.959,75 € (+ 599,82 €)
01/05/2019: 6.669,92 € (+1.710,35 €)
01/06/2019: 7.451,88 € (+ 781,96 €)
01/07/2019: 8.069,41 € (+ 617,26 €)
01/08/2019: 8.949,17 € (+ 880,03 €)
01/09/2019: 11.310,21 € (+2.361,04 €)
01/10/2019: 10.795,59 € (- 514,62 €)
01/11/2019: 11.426,98 € (+ 631,39 €)
01/12/2019: 12.123,70 € (+ 696,72 €)
01/01/2020: 12.979,27 € (+ 855,57 €)
01/02/2020: 14.363,54 € (+1.384,27 €)
Debts:
01/01/2019: 4.024,10 €
01/02/2019: 3.746,69 € (-277,41 €)
01/03/2019: 3.469,28 € (-277,41 €)
01/04/2019: 3.191,87 € (-277,41 €)
01/05/2019: 2.914,46 € (-277,41 €)
01/06/2019: 2.637,05 € (-277,41 €)
01/07/2019: 2.109,64 € (-527,41 €)
01/08/2019: 1.832,23 € (-277,41 €)
01/09/2019: 1.454,82 € (-377,41 €)
01/10/2019: 1.077,41 € (-377,41 €)
01/11/2019: 700,00 € (-377,41 €)
01/12/2019: 350,00 € (-350,00 €)
01/01/2020: 0,00 € (-350,00 €)
01/02/2020: 0,00 € (+- 0,00 €)
Net worth:
01/01/2019: - 109,47 €
01/02/2019: 269,41 € (+ 378,88 €)
01/03/2019: 890,47 € (+ 621,06 €)
01/04/2019: 1.767,70 € (+ 877,23 €)
01/05/2019: 3.755,46 € (+1.987,76 €)
01/06/2019: 4.814,83 € (+1.059,37 €)
01/07/2019: 5.959,50 € (+1.144,67 €)
01/08/2019: 7.116,94 € (+1.157,44 €)
01/09/2019: 9.855,39 € (+2.738,45 €)
01/10/2019: 9.718,18 € (- 137,21 €)
01/11/2019: 10.726,98 € (+1.008,80 €)
01/12/2019: 11.773,70 € (+1.046,72 €)
01/01/2020: 12.979,27 € (+1.205,57 €)
01/02/2020: 14.363,54 € (+1.384,27 €)
The debts were for a private no-interest loan of 4.500 € from my parents to buy my first car (used 2012 Honda Fit for 6.500 € in total) that still had a balance of 3.750 € in the beginning of 2019 and a consumer loan for a monitor. I normaly wouldn't finance electronics like that, but financing the monitor for 0 % came with a 50 € discount. The spike on the 1st of September was due to a large tax return in August and the lack of progress in September was due to an expected car repair bill of ~ 950 € and my phone dying at the same time.
Typing this all out really motivated me to keep going in 2020, see you all back in the race to 100k.
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Hi, my first post here! Opened our vanguard accounts this week so I'm keen to get to our first 10k invested. I'm not counting pension savings and cash for this.
So as of 1/2/2020 £3000 in vanguard, mainly from moving some cash savings.
-
You can look into no-load, low ER index mutual funds that might allow smaller increments than €1,000, and automatic transfers from your paycheck. That would take a step out of your investment process.
Yes, that's the savings plan I use at the moment, as it allows just €50 per month. To make a one-off purchase, even of the same ETF fund, a lot of them have seem to have a minimum of x amount. The bank I currently use does special offers a couple of times a year though, where you can buy with no-fee, and that usually has a €1,000 or €2,500 minimum. Since it would take me a while to save that much anyway, I'm going to use my savings account to accumulate that much and then when the special offers come up, I can take advantage.
In other news, I had forgotten that we were due a pay raise (3.2% of salary or min. €90/month, whichever is higher) from this month. So, I will have €53 extra per month to play with. For the first time ever, even before I have received that extra money for the first time, I have diverted it to investments. I set up a second ETF savings plan, but this time for bonds, rather than stocks. And I saw that my bank has started offering a rounding service and I activated that, too. For every card purchase, the amount rounding up to the nearest euro will be transferred to savings.
It feels a bit weird to have had an entire year without any major money emergencies or dramas or unexpectedness.
Congratulations on your progress! Just popping in from the other side of the FIRE journey. One thing I regret in hindsight is being too conservative in the early accumulation years. Since your horizon is presumably long, you have lots of time for your investments to recover in case of a severe market downturn. I would seriously consider avoiding bonds just yet. Based on my own experience, I'd continue stuffing the ETF, because growth is what gets you there fastest.
When I was just starting out, I was afraid of losing a penny. Now, I understand that when the market dips, it's like my favorite store is having a sale. It's a chance to get more shares at a discounted price. Dips in the market are opportunities, not something to be feared. I wish I'd understood that then and been less fearful.
In 2008, I decided to really put the pedal to the metal and ratchet my savings up so I could GTFO. I saved until it hurt. I put everything into equities, even though the market wasn't doing so hot. As the stock market recovered, I was amazed at how much my 'stache ballooned! I still consider it my best financial move ever.
Just sharing things I wish someone had told me way back when. Best of luck to you In your journey to financial freedom!
Well, I'm forty-five already, doesn't feel like any horizons are long anymore.
It's more of a psychological thing, I'm afraid. I just want to have a little bit of diversity. I'm thinking I'll probably stop the bonds savings plan after I have a bit saved and divert everything to the stocks then. I know it doesn't make sense from a mathematical point of view but that's where I'm at at the moment. Meet you back here in fifteen years so you can say "I told you so?" :-)
I understand what you feel like. From your posts I get the impression that you are either single or in a relationship with separate finances. You're a bit older than me (I'll be 30 this year) but I have a health condition that will likely limit the amount of years I can keep working. I don't make tons of money. I don't have family with money that I can fall back on. I used to feel quite vulnerable for a long time and that is what drove me to save money (I'm a lifelong saver, even before I got to know MMM). I passed the 10k mark a year ago and hope to reach 20k in a year from now. I feel significantly less vulnerable than I did 5k ago. I think in a few years from now you will feel more secure and more able to take risks.I think not wanting to take risks when you still have a relatively low net worth is a sensible thing to do. For me, I have put away a set amount of money into risky investments for years and suddenly it has become quite a lot of money, but I've always put away small amounts of money (€100/month).
What has added to my personal feeling of security is home ownership but that's not something that works for everyone. We were able to buy a small property with a low mortgage payment (way cheaper than renting) and we had experienced terrible landlords. We wanted to know we had an affordable roof over our heads that we could afford in any doom scenario we could think of.
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Hi, my first post here! Opened our vanguard accounts this week so I'm keen to get to our first 10k invested. I'm not counting pension savings and cash for this.
So as of 1/2/2020 £3000 in vanguard, mainly from moving some cash savings.
Welcome aboard @Gingersnaps! This is one of the best threads on the whole forum. In your other post I think you said you want to RE in 15 years? You've probably read this classic post, the Shockingly Simple Math -- https://www.mrmoneymustache.com/2012/01/13/the-shockingly-simple-math-behind-early-retirement/ -- and know that with a ~55% savings rate that goal is within your grasp. Ready, set, GO!
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I understand what you feel like. From your posts I get the impression that you are either single or in a relationship with separate finances.
Yep, single unfortunately. Mind you, I am a fairly extremely introverted person and have lived on my own for so long now I think even if I met the man* of my dreams, we'd still have to live in separate houses. LOL
What has added to my personal feeling of security is home ownership but that's not something that works for everyone. We were able to buy a small property with a low mortgage payment (way cheaper than renting) and we had experienced terrible landlords. We wanted to know we had an affordable roof over our heads that we could afford in any doom scenario we could think of.
This is something that I have struggled with for a long time as it was always a huge security thing for me and it seems unlikely now that I'll ever manage to buy.
My parents used to rent out some houses, the plan was to have one for each of the children to either receive upon marriage or inherit. Unfortunately, after my mum died and my dad remarried, that plan seemed to fall by the wayside. I hadn't even realised how much I had internalised the security of having my dad as a "financial blankie" (not that we were very rich, but we were comfortable at a time of recession and lots of redundancies etc.) until after he died when I was in my early 20s. In the end, each of us kids got four thousand pounds each, and my stepmother inherited everything else (we didn't bother contesting the somewhat suspicious will because when all is said and done, it was only money). But I really struggled with that feeling of having no security, no family home to move back into if things ever went pear-shaped, etc. That was 1997, when house prices in Ireland first started going absolutely mad, too, so saving even enough for a deposit seemed totally out of reach. If only I had found (and believed!) MMM then, instead of going into credit card debt, I might have been able to buy a house that would now be worth five times what I paid. Coulda, shoulda, woulda.
I still keep an eye out for opportunities to buy something small but it can be very expensive to buy in Germany, and I work in a typical university only-professors-can-afford-to-actually-buy-here kind of town. And live 10km away because even renting is very expensive. At least renter protections are relatively good here and there are some advantages to having a landlord when it comes to some maintenance stuff, too.
* Or woman or a non-binary option - I'm prettty open really but given my past, the chances of man being most applicable for me are very high. :-)
Edited to fix far too many typos - if there are any more, ye will just have to live with them.
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1/1/2018: $(170,956.12)
2/1/2018: $(166,849.63)
3/1/2018: $(161,395.88)
4/1/2018: $(156,590.44)
5/1/2018: $(152,997.61)
6/1/2018: $(149,175.48)
7/1/2018: $(143,748.22)
8/1/2018: $(138,734.38)
9/1/2018: $(135,043.66)
10/1/2018: $(131,441.14)
11/1/2018: $(133,372.50)
12/1/2018: $(128,081.25)
1/1/2019: $(80,750.78)
2/1/2019: $(73,422.02)
3/1/2019: $(60,122.64)
4/1/2019: $(54,342.22)
5/1/2019: $(48,858.05)
6/1/2019: $(49,269.97)
7/1/2019: $(29,802.87)
8/1/2019: $(25,751.08)
...
1/1/2020: $(4,873.13)
2/1/2020: $(4,647.56)
A relatively stagnant month since I took a break to switch jobs and haven't gotten paid at the new one yet (plus the market's downturn in the last week or two).
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November 2019
Credit card: $521.24
Car loan: $7,868.05
401K: $604.75
Net worth: -7,784.54
December 2019
Credit card: $208.72
Car loan: $7,719.02
401K: $1,072.31
Net worth: -6855.43 (+929.11)
January 2020
Credit card: 0.00
Car loan: $7,567.96
401K: $1,411.37
Net worth: -6,156.59 (+698.84)
February 2020
Credit card: 0.00
Car loan: $6,917.34
401K: $1,564.01
HSA: $240.18
Net worth: -5113.15 (+1043.44)
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That's a sad story @Moonwaves :( of course I don't know what happened but I just can't understand people like your father's wife.
Luckily renting is quite secure in Germany so as long as you've got a reliable landlord renting is a good option too. Funny, people from NL often buy homes just across the border with Germany because homes are much cheaper there, but of course we're talking about big family homes in the countryside, not small homes in urban areas. I guess it's the same as in Ireland, there are affordable homes but not in places you want to live :)
We (I have a partner but we're in a bit of an unvonventional relationship, and we have separate finances) were very lucky to be able to buy through a rejuvenation project from our housing autjority, so we were able to buy our house at a discount provided we maintain it and sell it back to them if we ever leave. We bought for 80k. We'd never thought we would be homeowners but it happened and it's been good for us.
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Hi, my first post here! Opened our vanguard accounts this week so I'm keen to get to our first 10k invested. I'm not counting pension savings and cash for this.
So as of 1/2/2020 £3000 in vanguard, mainly from moving some cash savings.
Welcome to the thread, opening your first investment account is a big step in the right direction, happy saving!!
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Student Loans:
01/12/19: $43,762.76
02/01/19: $42,561.06 (-$1,201.70)
03/04/19: $41,418.69 (-$1,139.41)
07/05/19: $37,901.63 (-$3,517.06)
08/10/19: $36,673.79 (-$1,227.84)
09/01/19: $35,289.89 (-$1,383.90)
10/02/19: $33,624.85 (-$1,665.04)
11/04/19: $31,707.48 (-$1,917.37)
12/08/19: $30,043.85 (-$1,663.63)
01/03/20: $28,335.39 (-$1,708.46)
02/05/20: $26,652.37 (-$1,683.02)
Net Worth per Personal Capital:
03/04/19: -$30,065
07/05/19: -$21,711 ($8,294)
08/10/19: -$18,173 ($3,538)
09/01/19: -$12,615 ($5,558)
10/02/19: -$10,089 ($2,526)
11/04/19: -$6,559 ($3,530)
12/08/19: -$1,673 ($4,886)
12/22/19: $237 ($1,910) (First day of having a positive net worth)
01/03/20: $1,447 ($1,210)
02/02/20: $5,209 ($3,762)
Another successful month, my net worth is quickly approaching 10K! I am amazed at how fast my net worth has grown the past year!
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Great month @TyGuy ! Remind me what the first numbers are? Student loans?
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@Trifele yes, the first set of numbers are my student loan debt, thanks for noticing (I edited the above post)!
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Progress continues, we hope to be at zero or maybe in the positive when March arrives. Just depends on when that tax refund hits. If it takes a little while longer, we should still be starting our positive climb by April, which is still 2 months sooner than we thought we would do it. Fingers crossed nothing messes up the plan.
11/15/2019 $ -5671.56
12/18/2019 $ -4174.34
01/18/2020 $ -4162.83
02/13/2020 $ -2575.99
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Sept 2019:
Starting Debt: $60,811.05
Starting savings: $46,123.39
Where it stands: (-14,687.66)
Targeted student loan balance: $5463
January 2020:
Total debt: $54,424.86
Total savings: $51,759.52
Where it stands: (-2,665.24)
Targeted student loan balance: $4050
February 2020:
Total debt: $51,755.95
Total savings: $55,711.19
Where it stands: +$3,955.24
Targeted student loan balance: $3,208
WOO HOO! Across the zero line into the positives! We didn't actually payoff 2700 dollars of debt last month, but when I went to check the balances and interest rates, they were lower than expected, so I adjusted my spreadsheet to reflect more accurate numbers. I won't actually do it, but it's comforting to know that if we absolutely had to, we could pay off the entirety of our debt and still have (a little) something.
Sending good vibes to all y'all!
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Monthly update, markets are down but bonus is in. Quite good having my risk tolerance tested so early, I'm very fine with it - I figure alternatively the money I've invested would be deflating as cash or being frittered away on nothing so I'm still in a positive position :)
1/2/20 - £3000
1/3/20 - £4268.37
Welcome aboard @Gingersnaps! This is one of the best threads on the whole forum. In your other post I think you said you want to RE in 15 years? You've probably read this classic post, the Shockingly Simple Math -- https://www.mrmoneymustache.com/2012/01/13/the-shockingly-simple-math-behind-early-retirement/ -- and know that with a ~55% savings rate that goal is within your grasp. Ready, set, GO!
Thank you for the welcome! Such a great post, I'm going to do some playing about with calculators on saving rates. We're currently at 45% but that excludes bonuses so I can recalculate when theyre all in next month. We'll also put April payrises straight in which will help. 15 years gives us a good starting goal but let's see how that progresses.
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Gosh do you have to the verification forever, I'm struggling!?
Huge congratulations on getting to positive net worth @mactastic must be a great feeling
Sounds like March could be your month @jdhansen
Thanks for the welcome @TyGuy you have some great numbers!
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@Gingersnaps, the verification is a fairly new thing. As this forum has grown, it's become the target of unwelcome spam bots and trolls, so it's become necessary. This is a great community and totally worth the additional barriers to entry..
___________
I'm glad to see some recent activity on this thread. I've been wondering how you are all coping with the market dips of late. Just remember, the market is on sale! You're buying more shares for a lower price. It's a good thing, particularly when you're in the early stages of accumulation. Hang In there!
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1/1/2018: $(170,956.12)
2/1/2018: $(166,849.63)
3/1/2018: $(161,395.88)
4/1/2018: $(156,590.44)
5/1/2018: $(152,997.61)
6/1/2018: $(149,175.48)
7/1/2018: $(143,748.22)
8/1/2018: $(138,734.38)
9/1/2018: $(135,043.66)
10/1/2018: $(131,441.14)
11/1/2018: $(133,372.50)
12/1/2018: $(128,081.25)
1/1/2019: $(80,750.78)
2/1/2019: $(73,422.02)
3/1/2019: $(60,122.64)
4/1/2019: $(54,342.22)
5/1/2019: $(48,858.05)
6/1/2019: $(49,269.97)
7/1/2019: $(29,802.87)
8/1/2019: $(25,751.08)
...
1/1/2020: $(4,873.13)
2/1/2020: $(4,647.56)
3/1/2020: $398.59
Oh my goodness! Helloooooo to a positive net worth for the first time in my adult life!!! I can hardly believe it, especially when I look at the numbers I started with just a few years ago.
The only reason that I moved forward this month, despite the terrible last week in the markets, is that last week I also got a final profit-sharing payment that my prior job still owed me. It was worth almost exactly the amount my investment accounts dipped last week. And I was glad that it was paid out during a week when the markets were plummeting. It's way more fun to watch the numbers go up, obviously, but I know it's great to be in a position to take advantage of market dips and keep investing. If the market recovers to some degree this month, and my tax return hits my account, I may even graduate from this thread on April 1! We'll see!
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Wow, @mckaylabaloney, that is amazing progress! Congratulations!!!
-
Student Loans:
01/12/19: $43,762.76
02/01/19: $42,561.06 (-$1,201.70)
03/04/19: $41,418.69 (-$1,139.41)
07/05/19: $37,901.63 (-$3,517.06)
08/10/19: $36,673.79 (-$1,227.84)
09/01/19: $35,289.89 (-$1,383.90)
10/02/19: $33,624.85 (-$1,665.04)
11/04/19: $31,707.48 (-$1,917.37)
12/08/19: $30,043.85 (-$1,663.63)
01/03/20: $28,335.39 (-$1,708.46)
02/05/20: $26,652.37 (-$1,683.02)
03/03/20: $24,941.42 (-$1,710.95)
Net Worth per Personal Capital:
03/04/19: -$30,065
07/05/19: -$21,711 ($8,294)
08/10/19: -$18,173 ($3,538)
09/01/19: -$12,615 ($5,558)
10/02/19: -$10,089 ($2,526)
11/04/19: -$6,559 ($3,530)
12/08/19: -$1,673 ($4,886)
12/22/19: $237 ($1,910) (First day of having a positive net worth)
01/03/20: $1,447 ($1,210)
02/02/20: $5,209 ($3,762)
03/03/20: $5,821 ($612)
Market losses lead to minimal increase in net worth this past month. March looks promising as I will be receiving my tax return and markets begin the month low.
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I can’t recall my last update here, but we have returned from the USA with our savings (relatively) unscathed. So glad to have found MMM and the FIRE community which meant we had cash to pay for the trip instead of taking a loan, and will again pay cash for the next wedding in November (Mr just got asked to be the best man, so we’ll be going for sure). Wish I had known a little more about travel hacking before we took this trip, but have signed up for some bonuses and such to ease the pinch of the second trip.
Exciting news in that my “investing” bucket/sinking fund has now hit $500 and I’m ready to make my first trade on selfwealth while everything is on sale. Not bad for being an account with no dedicated input from my regular pay check, purely filled from “rounding up” to the nearest dollar, Airtasker payments and money found/interest payments.
$7500 ($2k efund, 5k saving for down payment, $500 ready to invest).
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Lots of drama out there glad we were able to pull into the positive side of things. DW got a bonus and we have really tightened down the budget.
Here is where we stand
11/15/2019 $ -5671.56
12/18/2019 $ -4174.34
01/18/2020 $ -4162.83
02/13/2020 $ -2575.99
03/18/2020 $ 6748.74
It will be interesting to see how all this virus business shakes out, but we are sticking to the plan and we will see everyone on the other side.
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Hi all, I'm betting that a lot of you have never experienced such a crazy market before. I can remember how I used to agonize over my investments, positive that anything I bought would immediately tank. Also, when my accounts were small, the balance decreases were devastating. I felt like the dollars were being ripped out of my wallet.
You've heard all of these before, but I thought I'd reiterate a few points:
1. The market always comes back over time. Always.
2. Market dips are buying opportunities. If you can't increase your contributions, at least try to stay in at your current rate. Don't pull back.
3. Stop looking at your balances. Really. Don't look.
4. Selling is the guaranteed way to make temporary losses permanent.
I wish everyone the best of luck and good health during this difficult period. It will get better.
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+1. Great reminders, @Dicey.
I well remember the 2008 crisis, when it felt like the financial world was ending. I remember getting my work bonus in February of 2009 (when the market was near its bottom). I agonized -- and then invested the whole thing. It felt scary, like I might just be throwing it all away. But the market came back fine.
Keep calm and save on everyone! :)
ETA: Congrats @jdhansen for crossing into positive territory!! That is huge!!
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In mid-2008, I decided to really push to reach FIRE. As in hair-on-fire emergency saving. Due to a combination of HCOLA, and not huge salary, I was a steady saver, but this was the first time I ever even came close to maxing out my 401k. When the market recovered, it really boosted me toward the finish line. I am so grateful to my 2008 self for bravely pushing forward when the markets were so volatile.
Things may look a lot worse before they get better, but odds are, everyone's gonna be just fine.
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Just one lesson I'd like to add from 2008: maintain a healthy E-fund! If you have low income/low savings you're more vulnerable to job loss than others further along the FIRE journey. Resist the temptation to throw all your money in the stock market because stocks are on sale. Just stick to the investment plan and save a bit extra in the EF if your job feels insecure.
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@Trifele & @Dicey
Just wanted to say thanks for your posts. Whilst I was stuck in this thread, and towards the beginning of my FIRE journey to date, posts like yours were a continuing source of encouragement.
In 2017, when markets were booming, I was at my lowest point financially. I was stressed constantly about money. I've not even travelled too far in the grand scheme of things, and I still have decades ahead of me before FI. But having built up my EF, started investing and changed my lifestyle to a more modest, minimalist approach, I'm no longer stressed. I lost 10% of my net worth this month and in all honesty, I've not lost a wink of sleep.
Had I not found this forum, held myself accountable and been encouraged, god knows what my finances or my mental health would look like.
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@Trifele & @Dicey
I want to echo Manchester's comments. I have made it a point to ignore my accounts since this started and my DW and I just keep sticking to the budget plan. Easier that way, but man it is hard to avoid the constant news about it.
Guessing this is a major opportunity for us if we stay the course, low cost of entry will pay off years from now when we are ready to hang it up.
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@Manchester -- spot on! As Mustachians we have the tools and the mindset to weather this type of crisis.
Right on @jdhansen -- even though the market dip is nauseating it really is a great opportunity, just like 2008 was for us older folks.
Hope everyone is doing ok! If you've lost your job, hang in there. Like @Manchester pointed out, this is where the emergency fund and the Mustachian lifestyle skills come into play. If you still have a job, keep saving and investing like @jdhansen. We'll get through this!
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Just one lesson I'd like to add from 2008: maintain a healthy E-fund! If you have low income/low savings you're more vulnerable to job loss than others further along the FIRE journey. Resist the temptation to throw all your money in the stock market because stocks are on sale. Just stick to the investment plan and save a bit extra in the EF if your job feels insecure.
Yes! The current market situation is Exhibit A on why you need to have a healthy emergency fund first. :)
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I accidentally deleted my previous post... Oh well, update
Student loan - ($24,871.7)
Credit card debt - 5500
Savings - $900
Checking - $200
401K - 26,696.66.55
Roth IRA - 810
Total - (1,590)
Ok, time to check in again. I upped my savings due to market fears. My 401k hit 30,000 about a month ago and then the market went to shit and so did my positive net worth. I dropped all the way back to 24,000.
Student loan - ($24,307.7)
Credit card debt - 6100
Savings - $3500
Checking - $200
401K - 24,615
Roth IRA - 910
Total - (1,283)
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Sept 2019:
Starting Debt: $60,811.05
Starting savings: $46,123.39
Where it stands: (-14,687.66)
Targeted student loan balance: $5463
March 2020:
Total debt: $50,408.55
Total savings: $55,421.30
Where it stands: +$5,012.75
Targeted student loan balance: $2,632
Slow and steady progress. The combination of being newly pregnant and COVID has led to us concentrating much more on savings for the moment, and I'm constantly doing mental calculations of budget scenarios. My husband's job is pretty rock solid (essential), but I'm bracing for my hours to be reduced, at least temporarily. Appreciating the fact that we have a lengthy runway if sh*t hits the fan and sending lots of love to y'all, whatever your situation may be!
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I accidentally deleted my previous post... Oh well, update
Student loan - ($24,871.7)
Credit card debt - 5500
Savings - $900
Checking - $200
401K - 26,696.66.55
Roth IRA - 810
Total - (1,590)
Ok, time to check in again. I upped my savings due to market fears. My 401k hit 30,000 about a month ago and then the market went to shit and so did my positive net worth. I dropped all the way back to 24,000.
Student loan - ($24,307.7)
Credit card debt - 6100
Savings - $3500
Checking - $200
401K - 24,615
Roth IRA - 910
Total - (1,283)
The market will eventually return and your 401K will be stronger than ever, hang in there! Have you ever considered putting a chunk of you savings towards the CC debt (I know you stated you are trying to increase your savings due to the market downturn, but the freed up CC credit could be used if an emergency arises and in the meantime you would be saving the interest that would be collected by the CC companies). Just some food for thought. Happy saving!
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Investment update:
1/2/20 - £3000
1/3/20 - £4268.37
1/4/20 - £7309.86
More bonus money added this month, if we keep our jobs (crazy to have to say that) and continue as planned we should now hit 50% savings rate for the year. Also bumped up the emergency fund this month and holding a planned mortgage overpayment in cash too just in case.
Nice to see numbers moving in the right direction @mactastic and @Rimu05
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I accidentally deleted my previous post... Oh well, update
Student loan - ($24,871.7)
Credit card debt - 5500
Savings - $900
Checking - $200
401K - 26,696.66.55
Roth IRA - 810
Total - (1,590)
Ok, time to check in again. I upped my savings due to market fears. My 401k hit 30,000 about a month ago and then the market went to shit and so did my positive net worth. I dropped all the way back to 24,000.
Student loan - ($24,307.7)
Credit card debt - 6100
Savings - $3500
Checking - $200
401K - 24,615
Roth IRA - 910
Total - (1,283)
The market will eventually return and your 401K will be stronger than ever, hang in there! Have you ever considered putting a chunk of you savings towards the CC debt (I know you stated you are trying to increase your savings due to the market downturn, but the freed up CC credit could be used if an emergency arises and in the meantime you would be saving the interest that would be collected by the CC companies). Just some food for thought. Happy saving!
Normally, I might agree with this suggestion, but not now. A better idea might be to call and see if you can get the interest rates reduced or look for a good balance transfer option. Keeping your cash is the best security right now. And congratulations on your progress and your pregnancy!
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I accidentally deleted my previous post... Oh well, update
Student loan - ($24,871.7)
Credit card debt - 5500
Savings - $900
Checking - $200
401K - 26,696.66.55
Roth IRA - 810
Total - (1,590)
Ok, time to check in again. I upped my savings due to market fears. My 401k hit 30,000 about a month ago and then the market went to shit and so did my positive net worth. I dropped all the way back to 24,000.
Student loan - ($24,307.7)
Credit card debt - 6100
Savings - $3500
Checking - $200
401K - 24,615
Roth IRA - 910
Total - (1,283)
The market will eventually return and your 401K will be stronger than ever, hang in there! Have you ever considered putting a chunk of you savings towards the CC debt (I know you stated you are trying to increase your savings due to the market downturn, but the freed up CC credit could be used if an emergency arises and in the meantime you would be saving the interest that would be collected by the CC companies). Just some food for thought. Happy saving!
Normally, I might agree with this suggestion, but not now. A better idea might be to call and see if you can get the interest rates reduced or look for a good balance transfer option. Keeping your cash is the best security right now. And congratulations on your progress and your pregnancy!
A reduced interest rate of low/no interest balance transfer would definitely be ideal, great suggestion @Dicey
(Also, I am assuming the interest rate on the CC debt currently stands at a high rate?)
-
1/1/2018: $(170,956.12)
2/1/2018: $(166,849.63)
3/1/2018: $(161,395.88)
4/1/2018: $(156,590.44)
5/1/2018: $(152,997.61)
6/1/2018: $(149,175.48)
7/1/2018: $(143,748.22)
8/1/2018: $(138,734.38)
9/1/2018: $(135,043.66)
10/1/2018: $(131,441.14)
11/1/2018: $(133,372.50)
12/1/2018: $(128,081.25)
1/1/2019: $(80,750.78)
2/1/2019: $(73,422.02)
3/1/2019: $(60,122.64)
4/1/2019: $(54,342.22)
5/1/2019: $(48,858.05)
6/1/2019: $(49,269.97)
7/1/2019: $(29,802.87)
8/1/2019: $(25,751.08)
...
1/1/2020: $(4,873.13)
2/1/2020: $(4,647.56)
3/1/2020: $398.59
4/1/2020: $(9,003.54)
Well, that wasn't actually quite as bad as I expected! Haven't really looked at my investments since everything started going down, so I was steeling myself for worse.
What a month, huh? I am very grateful to have work that I can, in theory, continue to do from home indefinitely. That said, I don't think my job is necessarily recession-proof, especially since I'm the most junior attorney in my practice group (so the first to go if it comes to that) -- so I've decided to stop paying extra on my student loans for now in favor of trying to beef up my emergency fund. The interest rate on my savings account is 1.5% and the rate on my loans is 1.9%, so it's only a minimal difference anyway, especially in the short term.
I hope all of you and your loved ones are well.
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I accidentally deleted my previous post... Oh well, update
Student loan - ($24,871.7)
Credit card debt - 5500
Savings - $900
Checking - $200
401K - 26,696.66.55
Roth IRA - 810
Total - (1,590)
Ok, time to check in again. I upped my savings due to market fears. My 401k hit 30,000 about a month ago and then the market went to shit and so did my positive net worth. I dropped all the way back to 24,000.
Student loan - ($24,307.7)
Credit card debt - 6100
Savings - $3500
Checking - $200
401K - 24,615
Roth IRA - 910
Total - (1,283)
The market will eventually return and your 401K will be stronger than ever, hang in there! Have you ever considered putting a chunk of you savings towards the CC debt (I know you stated you are trying to increase your savings due to the market downturn, but the freed up CC credit could be used if an emergency arises and in the meantime you would be saving the interest that would be collected by the CC companies). Just some food for thought. Happy saving!
I wasn’t planning on paying the chunk in savings to credit card debt yet but I may actually do it this month. IF we do get the government stimulus which is hopefully 1200, then I actually will have no credit card debt left this month after my paychecks. I am lucky to be in a department where we are actually super short staffed and are still hiring. My goal before all the Corona stuff was to have no credit card debt by May and spend the rest of the year socking away every cent to savings. Also, while there are things I don’t like about my apartment complex such as no walking trails. I will probably renew my lease to avoid incurring moving expenses. For the most part, maintenance is great and the apartment is super quiet.
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Student Loans:
01/12/19: $43,762.76
02/01/19: $42,561.06 (-$1,201.70)
03/04/19: $41,418.69 (-$1,139.41)
07/05/19: $37,901.63 (-$3,517.06)
08/10/19: $36,673.79 (-$1,227.84)
09/01/19: $35,289.89 (-$1,383.90)
10/02/19: $33,624.85 (-$1,665.04)
11/04/19: $31,707.48 (-$1,917.37)
12/08/19: $30,043.85 (-$1,663.63)
01/03/20: $28,335.39 (-$1,708.46)
02/05/20: $26,652.37 (-$1,683.02)
03/03/20: $24,941.42 (-$1,710.95)
04/03/20: $23,233.85 (-$1,707.57)
Net Worth per Personal Capital:
03/04/19: -$30,065
07/05/19: -$21,711 ($8,294)
08/10/19: -$18,173 ($3,538)
09/01/19: -$12,615 ($5,558)
10/02/19: -$10,089 ($2,526)
11/04/19: -$6,559 ($3,530)
12/08/19: -$1,673 ($4,886)
12/22/19: $237 ($1,910) (First day of having a positive net worth)
01/03/20: $1,447 ($1,210)
02/02/20: $5,209 ($3,762)
03/03/20: $5,821 ($612)
04/03/20: $5,001 (-$820)
My tax return helped soften the blow of the market downturn this past month and I am optimistic moving forward as I will be surpassing the halfway point on my student loan repayment this coming month and my loans are now collecting 0% interest until this pandemic is over (one silver lining in this difficulty time). Keep fighting the good fight, all!
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Just getting started on the journey, 27, recently married and graduated with our doctorates. Now to dig out from our hole... This is going to take awhile, luckily our earning potential will increase greatly with time after residency. Contributing to this thread to hold us accountable and quell the impatience that comes with a massive debt burden.
Student loans:
1/2020 (-214579.43)
2/2020 (-211582.61)
3/2020 (-207301.61)
Net Worth:
1/2020 (-205328.66)
2/2020 (-199646.97)
3/2020 (-191659.76)
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Welcome @Peaksandvalleys! Lots of us on these boards started way in the hole, so you are in good company. I think the biggest danger for professionals in that situation is avoiding lifestyle creep. I learned to ignore comments from spendy co-workers about our smaller house, or the older cars we were driving. I thought about my student loans a lot and didn't push them to the back of my mind. I got great satisfaction from throwing chunks of money at them, and watching them melt away. After I killed the student loans I kept it fixed in my mind that a high income did not make me rich. And I kept telling myself I was working and saving for something more important than a fancier house or a car -- freedom.
You've totally got this!
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Thanks @Trifele ! Looking at just shy of 4 years to get back to zero net worth with our current savings rate, hoping we can accelerate that timeline. Goal is to come out of training ~3 years from now with no loans (may not be possible) and a positive net worth, already feeling the satisfaction of throwing a few thousand at the debt every month.
I appreciate the kind words of encouragement and caution against lifestyle creep, I am sure the pressure grows over time. Focusing on keeping up with the Mustaches instead of the Joneses
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...
Focusing on keeping up with the Mustaches instead of the Joneses
haha @Peaksandvalleys -- love that!
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Hi @Peaksandvalleys! As you can see from my last post, I totally understand your situation -- I graduated from law school in 2014 with about $225,000 of debt. For reasons relating to my school's loan repayment assistance program, I basically made no progress on my loans until the end of 2017, but since then I have paid off about $90k and am now in a position to pay the rest off in the next 2-3 years, depending on the COVID situation. Happy to offer any advice or just cheer you on! You'll be back to zero before you know it.
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I accidentally deleted my previous post... Oh well, update
Student loan - ($24,871.7)
Credit card debt - 5500
Savings - $900
Checking - $200
401K - 26,696.66.55
Roth IRA - 810
Total - (1,590)
Ok, time to check in again. I upped my savings due to market fears. My 401k hit 30,000 about a month ago and then the market went to shit and so did my positive net worth. I dropped all the way back to 24,000.
Student loan - ($24,307.7)
Credit card debt - 6100
Savings - $3500
Checking - $200
401K - 24,615
Roth IRA - 910
Total - (1,283)
My savings climbed to 6200 due to mid month paycheck and stimulus. I also surprisingly am getting a tax return this year of $600. I normally get about $200.
I am planning to pay my credit card off this month. I know it’s not advisable in these times, but I just can’t with the credit debt.
-
10/2/18 - $(2742.60)
10/29/18 - $(1899.81)
11/25/18 - $(1660.04)
12/31/18 - $245
3/14/19 - $(5,212)
3/31/19 - $(882.10)
4/25/19 - $(16,545.33)
5/29/19 - $(14,275.68)
6/28/19 - $(13,578)
7/26/19 - $(12,692)
8/23/19 - $(11,219)
10/4/19 - $(12,227.77)
11/30/19 - $(15,648)
12/27/19 - $(12,288)
1/27/20 - $(17,036)
4/17/20- $(14,394.54)
I'm back! The past fe months were such a financial rollercoaster even before the pandemic, but I finally had time to sit down and hash everything out. I was playing the "ignoring/hiding from my finances will make me feel better" game. COVID has destroyed the film industry for the foreseeable future, so this year may also bring a career change (which I would not oppose - I read an article about how film plans to reopen and they essentially admitted that they'll gladly put profits over crew).
I've been very fortunate that unemployment has been coming through for me, and that my expenses are so low I'll actually be making enough money to save during this time. I hope to come out of this with a novel manuscript and a solid financial foundation to stand on for the economic aftermath.
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I hope to come out of this with a novel manuscript and a solid financial foundation to stand on for the economic aftermath.
It would be great if you can replace this novel coronavirus with a novel manuscript!
:-)
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Hope everyone is continuing to do well and hang in there through all the sheltering in-home and other restrictions.
Things continue to increase for us, while we stay on track with our goal.
Here is where we stand
11/15/2019 $ -5671.56
12/18/2019 $ -4174.34
01/18/2020 $ -4162.83
02/13/2020 $ -2575.99
03/18/2020 $ 6748.74
04/17/2020 $ 8657.13
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Hope everyone is continuing to do well and hang in there through all the sheltering in-home and other restrictions.
Things continue to increase for us, while we stay on track with our goal.
Here is where we stand
11/15/2019 $ -5671.56
12/18/2019 $ -4174.34
01/18/2020 $ -4162.83
02/13/2020 $ -2575.99
03/18/2020 $ 6748.74
04/17/2020 $ 8657.13
Great work @jdhansen that is fantastic progress
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Hope everyone is continuing to do well and hang in there through all the sheltering in-home and other restrictions.
Things continue to increase for us, while we stay on track with our goal.
Here is where we stand
11/15/2019 $ -5671.56
12/18/2019 $ -4174.34
01/18/2020 $ -4162.83
02/13/2020 $ -2575.99
03/18/2020 $ 6748.74
04/17/2020 $ 8657.13
Great work @jdhansen that is fantastic progress
Thanks @DieHard_772 , while COVID-19 might be terrible, not being able to go out and about has definitely helped boost or savings rate.
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Hope everyone is continuing to do well and hang in there through all the sheltering in-home and other restrictions.
Things continue to increase for us, while we stay on track with our goal.
Here is where we stand
11/15/2019 $ -5671.56
12/18/2019 $ -4174.34
01/18/2020 $ -4162.83
02/13/2020 $ -2575.99
03/18/2020 $ 6748.74
04/17/2020 $ 8657.13
Great work @jdhansen that is fantastic progress
Thanks @DieHard_772 , while COVID-19 might be terrible, not being able to go out and about has definitely helped boost or savings rate.
@jdhansen that is awesome to hear! There can be perks to every situation
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I accidentally deleted my previous post... Oh well, update
Student loan - ($24,871.7)
Credit card debt - 5500
Savings - $900
Checking - $200
401K - 26,696.66.55
Roth IRA - 810
Total - (1,590)
Ok, time to check in again. I upped my savings due to market fears. My 401k hit 30,000 about a month ago and then the market went to shit and so did my positive net worth. I dropped all the way back to 24,000.
Student loan - ($24,307.7)
Credit card debt - 6100
Savings - $3500
Checking - $200
401K - 24,615
Roth IRA - 910
Total - (1,283)
I decided to get rid of my credit card debt against better judgement but I couldn’t keep looking at it anymore. I do work in a job that is still hiring and we are super understaffed so I remain somewhat confident, I won’t lose it soon. I am back to a positive net worth now. I have upped my 401k contribution which I lowered three months ago to concentrate on debt payment.
Student loan - ($24,307.94)
Savings - $500
Checking - $300
401K - 27,837
Roth IRA - 963
Total - 5,339
I may actually graduate from this thread this year which is crazy to me.
-
Sept 2019:
Starting Debt: $60,811.05
Starting savings: $46,123.39
Where it stands: (-14,687.66)
Targeted student loan balance: $5463
Apr 2020:
Current Debt: $48,986
Current savings: $52,570
Where it stands: $3,674
Targeted student loan balance: $1782
Took a bit of a hit in the savings department, but debt continues to decrease steadily. Stimulus hits tomorrow, and that'll be split between baby fund, the student loan we're targeting, topping off the amount we need to buy my parents' car this summer and helping those less lucky than we've been.
Feeling lucky to be able to take advantage of this zero percent interest period on the student loans! At the beginning of the year, paying this particular loan off this year felt like a stretch, can't believe we'll be able to accomplish it before the halfway point! After that one's wrapped up, we plan to just throw as much as we can at the biggest loan that remains while there's still no interest.
Hope everyone's hanging in there during this crazy time!!
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Great job @Rimu05 and @mactastic! Steady on!
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Yes you are doing fantastic @mactastic and @Rimu05 ! I can totally understand wanting to get rid of credit card debt. We are at the start of an uncertain economic time. This is a great time to take advantage of 0% interest, stimulus, lower expenses due to quarantaine etc to get your financial situation sorted before things may get worse.
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Investment update:
1/2/20 - £3000
1/3/20 - £4268.37
1/4/20 - £7309.86
1/5/20 - £8939.68
The market has bounced back, yesterday we were at a positive number though it's slipped back today. My husband got another bonus for retention so that's it's for the year now, probably steady and slow from here. Just grateful to have jobs tbh.
Still bumping up the emergency fund just in case too.
-
1/1/2018: $(170,956.12)
2/1/2018: $(166,849.63)
3/1/2018: $(161,395.88)
4/1/2018: $(156,590.44)
5/1/2018: $(152,997.61)
6/1/2018: $(149,175.48)
7/1/2018: $(143,748.22)
8/1/2018: $(138,734.38)
9/1/2018: $(135,043.66)
10/1/2018: $(131,441.14)
11/1/2018: $(133,372.50)
12/1/2018: $(128,081.25)
1/1/2019: $(80,750.78)
2/1/2019: $(73,422.02)
3/1/2019: $(60,122.64)
4/1/2019: $(54,342.22)
5/1/2019: $(48,858.05)
6/1/2019: $(49,269.97)
7/1/2019: $(29,802.87)
8/1/2019: $(25,751.08)
...
1/1/2020: $(4,873.13)
2/1/2020: $(4,647.56)
3/1/2020: $398.59
4/1/2020: $(9,003.54)
5/1/2020: $8,209.01
Well! That was unexpected. I guess the size of that rebound is a sign of how much of my net worth is in investments, because nothing special happened this month, financially, other than some recovery in the markets. I'm spending less in commuting costs, food costs, entertainment, etc., but spending more on tipping local businesses and service providers, charitable giving, etc., so I'm not really saving more during this time, which is fine with me. I'm fortunate that my income hasn't been affected so far, and am happy to use it to boost others in my community who are struggling.
I guess I might graduate from this thread next month, but I'm holding that loosely since markets are of course all over the place right now.
I hope all of you and your loved ones are healthy and otherwise well.
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Look at how far you've come in just 2,5 years @mckaylabaloney ! I also try to not really save extra but instead spend a bit more in local businesses. I'm not buying things I don't need but I have been spending a bit more and donating.
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@Imma it is almost hard to believe. I haven't had a positive net worth since 2011, when I started law school (and before that I was basically at $0 anyway). It's easy to forget how far I've come because I still have six figures of student debt, but it helps to look back at these numbers!
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You're killing it @mckaylabaloney! Your future self will thank you over and over again for gutting out this debt repayment so fast and focused.
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Thank you @Trifele! Although actually, I've made more progress building up assets than paying down debt! Since 10/1/2017, when I started tracking my numbers, I've increased my assets by $123,920.08 and paid down my debt by $82,253.42. (wow that actually makes me a little teary lol.) This is primarily because I've been maxing out my retirement accounts before paying extra on my debt, which is something I've second guessed at times -- it would be SO nice to be done with the debt; I still have six figures to go! -- but it does feel really really good to know that when the debt is gone I won't be starting from $0. In fact, I'm only a few hundred away from having $100,000 saved in tax-advantaged retirement accounts. So I'm really glad I made that choice!
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Thank you @Trifele! Although actually, I've made more progress building up assets than paying down debt!
Even better! Sounds like you've given a lot of thought to optimizing the journey, and your approach sounds really good.
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Thank you @Trifele! Although actually, I've made more progress building up assets than paying down debt!
Even better! Sounds like you've given a lot of thought to optimizing the journey, and your approach sounds really good.
You may be full of baloney, but you're a wise one, mckayla!
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Student Loans:
01/12/19: $43,762.76
02/01/19: $42,561.06 (-$1,201.70)
03/04/19: $41,418.69 (-$1,139.41)
07/05/19: $37,901.63 (-$3,517.06)
08/10/19: $36,673.79 (-$1,227.84)
09/01/19: $35,289.89 (-$1,383.90)
10/02/19: $33,624.85 (-$1,665.04)
11/04/19: $31,707.48 (-$1,917.37)
12/08/19: $30,043.85 (-$1,663.63)
01/03/20: $28,335.39 (-$1,708.46)
02/05/20: $26,652.37 (-$1,683.02)
03/03/20: $24,941.42 (-$1,710.95)
04/03/20: $23,233.85 (-$1,707.57)
05/04/20: $21,456.11 (-$1,777.74)
Net Worth per Personal Capital:
03/04/19: -$30,065
07/05/19: -$21,711 ($8,294)
08/10/19: -$18,173 ($3,538)
09/01/19: -$12,615 ($5,558)
10/02/19: -$10,089 ($2,526)
11/04/19: -$6,559 ($3,530)
12/08/19: -$1,673 ($4,886)
12/22/19: $237 ($1,910) (First day of having a positive net worth)
01/03/20: $1,447 ($1,210)
02/02/20: $5,209 ($3,762)
03/03/20: $5,821 ($612)
04/03/20: $5,001 (-$820)
05/04/20: $10,739 ($5,738)
Payed off my largest, and highest interest rate loan this past month. The remainder of my loans have no interest until the fall so I will be make only small payments until then and may pay a large lump sum when interest resumes in the fall. Additionally, With the rebound of the market this past month I saw a significant increase in net worth and will be moving onto the next thread, though I may stick around here for another few months as uncertainty with the economy looms. Thank you all for your support, this day has come sooner than anticipated!
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Net Worth per Personal Capital:
. . .
05/04/20: $10,739 ($5,738)
With the rebound of the market this past month I saw a significant increase in net worth and will be moving onto the next thread, though I may stick around here for another few months as uncertainty with the economy looms. Thank you all for your support, this day has come sooner than anticipated!
Your post didn't have enough exclamation points, @TyGuy! Well done and CONGRATULATIONS!!!!!!!!
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Congrats @TyGuy!!!
-
Student Loans:
01/12/19: $43,762.76
02/01/19: $42,561.06 (-$1,201.70)
03/04/19: $41,418.69 (-$1,139.41)
07/05/19: $37,901.63 (-$3,517.06)
08/10/19: $36,673.79 (-$1,227.84)
09/01/19: $35,289.89 (-$1,383.90)
10/02/19: $33,624.85 (-$1,665.04)
11/04/19: $31,707.48 (-$1,917.37)
12/08/19: $30,043.85 (-$1,663.63)
01/03/20: $28,335.39 (-$1,708.46)
02/05/20: $26,652.37 (-$1,683.02)
03/03/20: $24,941.42 (-$1,710.95)
04/03/20: $23,233.85 (-$1,707.57)
05/04/20: $21,456.11 (-$1,777.74)
Net Worth per Personal Capital:
03/04/19: -$30,065
07/05/19: -$21,711 ($8,294)
08/10/19: -$18,173 ($3,538)
09/01/19: -$12,615 ($5,558)
10/02/19: -$10,089 ($2,526)
11/04/19: -$6,559 ($3,530)
12/08/19: -$1,673 ($4,886)
12/22/19: $237 ($1,910) (First day of having a positive net worth)
01/03/20: $1,447 ($1,210)
02/02/20: $5,209 ($3,762)
03/03/20: $5,821 ($612)
04/03/20: $5,001 (-$820)
05/04/20: $10,739 ($5,738)
Payed off my largest, and highest interest rate loan this past month. The remainder of my loans have no interest until the fall so I will be make only small payments until then and may pay a large lump sum when interest resumes in the fall. Additionally, With the rebound of the market this past month I saw a significant increase in net worth and will be moving onto the next thread, though I may stick around here for another few months as uncertainty with the economy looms. Thank you all for your support, this day has come sooner than anticipated!
That is frigging phenomenal, @TyGuy . Congrats on your progress. I'm impressed
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1/1/2018: $(170,956.12)
2/1/2018: $(166,849.63)
3/1/2018: $(161,395.88)
4/1/2018: $(156,590.44)
5/1/2018: $(152,997.61)
6/1/2018: $(149,175.48)
7/1/2018: $(143,748.22)
8/1/2018: $(138,734.38)
9/1/2018: $(135,043.66)
10/1/2018: $(131,441.14)
11/1/2018: $(133,372.50)
12/1/2018: $(128,081.25)
1/1/2019: $(80,750.78)
2/1/2019: $(73,422.02)
3/1/2019: $(60,122.64)
4/1/2019: $(54,342.22)
5/1/2019: $(48,858.05)
6/1/2019: $(49,269.97)
7/1/2019: $(29,802.87)
8/1/2019: $(25,751.08)
...
1/1/2020: $(4,873.13)
2/1/2020: $(4,647.56)
3/1/2020: $398.59
4/1/2020: $(9,003.54)
5/1/2020: $8,209.01
Well! That was unexpected. I guess the size of that rebound is a sign of how much of my net worth is in investments, because nothing special happened this month, financially, other than some recovery in the markets. I'm spending less in commuting costs, food costs, entertainment, etc., but spending more on tipping local businesses and service providers, charitable giving, etc., so I'm not really saving more during this time, which is fine with me. I'm fortunate that my income hasn't been affected so far, and am happy to use it to boost others in my community who are struggling.
I guess I might graduate from this thread next month, but I'm holding that loosely since markets are of course all over the place right now.
I hope all of you and your loved ones are healthy and otherwise well.
$180k progress in only two years is absolutely amazing. You rock. Congrats @mckaylabaloney
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I may actually graduate from this thread this year which is crazy to me.
Go to it @Rimu05 ! Good work
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12/17/19: $21,427.67
01/26/20: $17,755.45
05/06/20: $13,179.59
Moving in the right direction but still have some spending I can and will cut away.
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@DieHard_772 @mckaylabaloney @Trifele The support form you all is astounding, thank you!!!!!!!!!!!
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@DieHard_772 @mckaylabaloney @Trifele The support form you all is astounding, thank you!!!!!!!!!!!
You are certainly welcome, @TyGuy . To me, the greatest benefit of practicing these wealth principles is to share and encourage others. Being financially sound, having your financial stuff together... well, it definitely supports living a happy life. Keep it up!
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12/17/19: $21,427.67
01/26/20: $17,755.45
05/06/20: $13,179.59
05/08/20: $9,994.309
Returned a few purchases and received an extra check for being considered essential.
-
12/17/19: $21,427.67
01/26/20: $17,755.45
05/06/20: $13,179.59
05/08/20: $9,994.309
Returned a few purchases and received an extra check for being considered essential.
@paulkots Keep up the progress, you'll be there in no time ;)
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12/17/19: $21,427.67
01/26/20: $17,755.45
05/06/20: $13,179.59
05/08/20: $9,994.309
Returned a few purchases and received an extra check for being considered essential.
Wow, I thought your 5/6 post reflected amazing progress, but this latest really is! You'll be out of the hole and piling up benjamins in no time!
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BoI savings: 100.00
DiBa ETF: 2,051.52 (passed the 2,000 mark!)
CmzBank savings a/c: 5,000.00 (Somewhat arbitrary amount for emergency fund fully funded, woohoo!)
Total: +7,151.52
Net: +7,1512.52
BoI savings: 50.00
DiBa ETF: 2,088.97 (in January I commented that I had passed the 2,000 mark - since then I have invested 400 more, but am still just past the 2,000 mark. At least I don't seem to often dip below it very often anymore.)
CmzBank savings a/c: 3,200.00
Total: +5,338.97
I can't quite believe it has been almost five months since I posted a numbers update. March and April were admittedly very skewy in terms of what time felt like. The numbers are going down rather than up but that is life at the moment. I took a big leap of faith and the somewhat unMustachian step of renting a second small studio apartment. This will serve as my office but also as storage to allow me to make my living space less cramped and full of stuff so that, hopefully, the mental health boost will be significant. I've taken money from savings to pay the deposit, etc. As I will be using it as an office, I will be able to set off most of the costs from taxes on my side-income so that is something. I want to get a few plants but otherwise don't plan on spending any money on the new place - I may need to get a WiFi extender of some kind but it is on the same floor as my current apartment so I should be able to get away with that without needing to pay for a second internet connection.
Of course, despite continuing to save monthly into my ETF plans, the market dropping means that it mostly feels like I've been treading water there. But we keep on keeping on, because that's what we do around here.
-
BoI savings: 100.00
DiBa ETF: 2,051.52 (passed the 2,000 mark!)
CmzBank savings a/c: 5,000.00 (Somewhat arbitrary amount for emergency fund fully funded, woohoo!)
Total: +7,151.52
Net: +7,1512.52
BoI savings: 50.00
DiBa ETF: 2,088.97 (in January I commented that I had passed the 2,000 mark - since then I have invested 400 more, but am still just past the 2,000 mark. At least I don't seem to often dip below it very often anymore.)
CmzBank savings a/c: 3,200.00
Total: +5,338.97
I can't quite believe it has been almost five months since I posted a numbers update. March and April were admittedly very skewy in terms of what time felt like. The numbers are going down rather than up but that is life at the moment. I took a big leap of faith and the somewhat unMustachian step of renting a second small studio apartment. This will serve as my office but also as storage to allow me to make my living space less cramped and full of stuff so that, hopefully, the mental health boost will be significant. I've taken money from savings to pay the deposit, etc. As I will be using it as an office, I will be able to set off most of the costs from taxes on my side-income so that is something. I want to get a few plants but otherwise don't plan on spending any money on the new place - I may need to get a WiFi extender of some kind but it is on the same floor as my current apartment so I should be able to get away with that without needing to pay for a second internet connection.
Of course, despite continuing to save monthly into my ETF plans, the market dropping means that it mostly feels like I've been treading water there. But we keep on keeping on, because that's what we do around here.
Keep up the savings, at some point the "treading water" will end and you will be surfing on waves headed straight towards retirement!
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Little late to the race just joining at 37 after spending my whole life blowing all my cash in fun ways.
12/17/19 - $0
2/1/20 - $3,282.45
3/1/20 - $4,254.70
4/1/20 - $3,579.25
5/1/20 - $5,386.17
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Little late to the race just joining at 37 after spending my whole life blowing all my cash in fun ways.
12/17/19 - $0
2/1/20 - $3,282.45
3/1/20 - $4,254.70
4/1/20 - $3,579.25
5/1/20 - $5,386.17
Welcome @NotSoMustachian! Great first post. Changing your outlook and goals is the biggest step, and you've already done that. Keep it up! It won't be long before you have to change your user name because you'll be a kick-ass mustachian with loads of money in the bank.
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Little late to the race just joining at 37 after spending my whole life blowing all my cash in fun ways.
12/17/19 - $0
2/1/20 - $3,282.45
3/1/20 - $4,254.70
4/1/20 - $3,579.25
5/1/20 - $5,386.17
@NotSoMustachian I totally get the feeling, but at least you are here, and you are making excellent
progress... amidst a pandemic, no less. You should be proud of yourself.
I started in this thread a few years ago dreaming of getting to $10k and now we are on our way to $100k.
Keep on trucking, It all adds up :)
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Little late to the race just joining at 37 after spending my whole life blowing all my cash in fun ways.
12/17/19 - $0
2/1/20 - $3,282.45
3/1/20 - $4,254.70
4/1/20 - $3,579.25
5/1/20 - $5,386.17
@NotSoMustachian I totally get the feeling, but at least you are here, and you are making excellent
progress... amidst a pandemic, no less. You should be proud of yourself.
I started in this thread a few years ago dreaming of getting to $10k and now we are on our way to $100k.
Keep on trucking, It all adds up :)
I was just wondering today how the OP of this thread was doing. Your post made me do more than wonder. Looks like they've made good progress too. Good for the two of you, and everyone else who has graduated from this thread. It would be really motivating if more of you would check in from time to time and offer encouragement to others just starting on this journey. You are living proof that it can be done! Once you get the ball rolling, it's amazing what happens next. Congratulations!
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Little late to the race just joining at 37 after spending my whole life blowing all my cash in fun ways.
12/17/19 - $0
2/1/20 - $3,282.45
3/1/20 - $4,254.70
4/1/20 - $3,579.25
5/1/20 - $5,386.17
@NotSoMustachian I totally get the feeling, but at least you are here, and you are making excellent
progress... amidst a pandemic, no less. You should be proud of yourself.
I started in this thread a few years ago dreaming of getting to $10k and now we are on our way to $100k.
Keep on trucking, It all adds up :)
I was just wondering today how the OP of this thread was doing. Your post made me do more than wonder. Looks like they've made good progress too. Good for the two of you, and everyone else who has graduated from this thread. It would be really motivating if more of you would check in from time to time and offer encouragement to others just starting on this journey. You are living proof that it can be done! Once you get the ball rolling, it's amazing what happens next. Congratulations!
Hey @Dicey , that's exactly why i checked in on here. I aim to offer any encouragement I can :)
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Little late to the race just joining at 37 after spending my whole life blowing all my cash in fun ways.
12/17/19 - $0
2/1/20 - $3,282.45
3/1/20 - $4,254.70
4/1/20 - $3,579.25
5/1/20 - $5,386.17
@NotSoMustachian I totally get the feeling, but at least you are here, and you are making excellent
progress... amidst a pandemic, no less. You should be proud of yourself.
I started in this thread a few years ago dreaming of getting to $10k and now we are on our way to $100k.
Keep on trucking, It all adds up :)
I was just wondering today how the OP of this thread was doing. Your post made me do more than wonder. Looks like they've made good progress too. Good for the two of you, and everyone else who has graduated from this thread. It would be really motivating if more of you would check in from time to time and offer encouragement to others just starting on this journey. You are living proof that it can be done! Once you get the ball rolling, it's amazing what happens next. Congratulations!
Hey @Dicey , that's exactly why i checked in on here. I aim to offer any encouragement I can :)
Ha! That's what I get for not reading carefully before I comment, lol! If threads like this were around when I was starting out, it would have made the FIRE journey easier. Except, come to think of it, the whole damn internet even didn't exist back then.
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It has been a crazy month since my last report. I was activated for my County's emergency response to COVID-19 so been working 7 days a week for 12 to 15 hours a day over the last 39 days. I haven't seen the family much, but all the hours have definitely helped turbocharge our savings.
Here is where we stand
11/15/2019 $ -5671.56
12/18/2019 $ -4174.34
01/18/2020 $ -4162.83
02/13/2020 $ -2575.99
03/18/2020 $ 6748.74
04/17/2020 $ 8657.13
05/27/2020 $ 13,038.89 ($5,530.08 IRA)
With the extra hours and the Stimulus check we were able to charge past our goal of $10,000 this month and DW and I made the call to fund an IRA this year, something we hadn't been able to do in quite a while. I'm amazed we were able to get here so quickly. Last year when things started to go wrong and the debt increased I didn't think we would turn it around. But thanks to sticking to the plan and the amazing support of everyone on this forum we made it. Now to wait patiently for June 15th to roll around so I can post in the next thread up.
Good luck to everyone who is just starting their journey, or who is on the way to meeting their goals. Just remember, you can do it and I'll see everyone in the next thread.
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Wow @jdhansen that was fast! Huge congratulations!!!
(https://media0.giphy.com/media/TmT51OyQLFD7a/giphy.webp?cid=ecf05e472a9e7f1516e58c133a2f5eb320c6ffab7c7d1a3e&rid=giphy.webp)
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It has been a crazy month since my last report. I was activated for my County's emergency response to COVID-19 so been working 7 days a week for 12 to 15 hours a day over the last 39 days. I haven't seen the family much, but all the hours have definitely helped turbocharge our savings.
Here is where we stand
11/15/2019 $ -5671.56
12/18/2019 $ -4174.34
01/18/2020 $ -4162.83
02/13/2020 $ -2575.99
03/18/2020 $ 6748.74
04/17/2020 $ 8657.13
05/27/2020 $ 13,038.89 ($5,530.08 IRA)
With the extra hours and the Stimulus check we were able to charge past our goal of $10,000 this month and DW and I made the call to fund an IRA this year, something we hadn't been able to do in quite a while. I'm amazed we were able to get here so quickly. Last year when things started to go wrong and the debt increased I didn't think we would turn it around. But thanks to sticking to the plan and the amazing support of everyone on this forum we made it. Now to wait patiently for June 15th to roll around so I can post in the next thread up.
Good luck to everyone who is just starting their journey, or who is on the way to meeting their goals. Just remember, you can do it and I'll see everyone in the next thread.
Very well done sir!
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It has been a crazy month since my last report. I was activated for my County's emergency response to COVID-19 so been working 7 days a week for 12 to 15 hours a day over the last 39 days. I haven't seen the family much, but all the hours have definitely helped turbocharge our savings.
Here is where we stand
11/15/2019 $ -5671.56
12/18/2019 $ -4174.34
01/18/2020 $ -4162.83
02/13/2020 $ -2575.99
03/18/2020 $ 6748.74
04/17/2020 $ 8657.13
05/27/2020 $ 13,038.89 ($5,530.08 IRA)
With the extra hours and the Stimulus check we were able to charge past our goal of $10,000 this month and DW and I made the call to fund an IRA this year, something we hadn't been able to do in quite a while. I'm amazed we were able to get here so quickly. Last year when things started to go wrong and the debt increased I didn't think we would turn it around. But thanks to sticking to the plan and the amazing support of everyone on this forum we made it. Now to wait patiently for June 15th to roll around so I can post in the next thread up.
Good luck to everyone who is just starting their journey, or who is on the way to meeting their goals. Just remember, you can do it and I'll see everyone in the next thread.
Way to stay committed, I look forward to following your progress on the next thread!
-
It has been a crazy month since my last report. I was activated for my County's emergency response to COVID-19 so been working 7 days a week for 12 to 15 hours a day over the last 39 days. I haven't seen the family much, but all the hours have definitely helped turbocharge our savings.
Here is where we stand
11/15/2019 $ -5671.56
12/18/2019 $ -4174.34
01/18/2020 $ -4162.83
02/13/2020 $ -2575.99
03/18/2020 $ 6748.74
04/17/2020 $ 8657.13
05/27/2020 $ 13,038.89 ($5,530.08 IRA)
With the extra hours and the Stimulus check we were able to charge past our goal of $10,000 this month and DW and I made the call to fund an IRA this year, something we hadn't been able to do in quite a while. I'm amazed we were able to get here so quickly. Last year when things started to go wrong and the debt increased I didn't think we would turn it around. But thanks to sticking to the plan and the amazing support of everyone on this forum we made it. Now to wait patiently for June 15th to roll around so I can post in the next thread up.
Good luck to everyone who is just starting their journey, or who is on the way to meeting their goals. Just remember, you can do it and I'll see everyone in the next thread.
Bam! way to go @jdhansen
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Congrats @jdhansen!!
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Congrats @jdhansen!!
Getting to over $10,000 is a big deal!
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How is the month over already??
Sept 2019:
Starting Debt: $60,811.05
Starting savings: $46,123.39
Where it stands: (-14,687.66)
Targeted student loan balance: $5463
May 2020:
Current Debt: $47,354
Current savings: $57,225
Where it stands: $9,871
Targeted student loan balance: $633
SOOOOO close to having 10k more in savings than the remainder of our debt! Next month for sure. Feeling excited to be crossing this milestone halfway through the year, and paying off the student loan we're targeting the same month - both were my goals for the entire year! The combination of zero percent interest on the student loans and my husband's OT as an essential employee has been stellar. Fully aware of how lucky we are. Hoping to get debt below $40k by the time baby arrives in November. Congrats to all the recent "grads" from this thread, y'all are inspiring - hope to join you soon!!
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You're killing it @mactastic!
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How is the month over already??
Sept 2019:
Starting Debt: $60,811.05
Starting savings: $46,123.39
Where it stands: (-14,687.66)
Targeted student loan balance: $5463
May 2020:
Current Debt: $47,354
Current savings: $57,225
Where it stands: $9,871
Targeted student loan balance: $633
SOOOOO close to having 10k more in savings than the remainder of our debt! Next month for sure. Feeling excited to be crossing this milestone halfway through the year, and paying off the student loan we're targeting the same month - both were my goals for the entire year! The combination of zero percent interest on the student loans and my husband's OT as an essential employee has been stellar. Fully aware of how lucky we are. Hoping to get debt below $40k by the time baby arrives in November. Congrats to all the recent "grads" from this thread, y'all are inspiring - hope to join you soon!!
@mactastic Bravo! Nice work
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For those of you who have student loans, are you taking advantage of the current forbearance by applying that payment amount to your stache right now? Seems like a once-in-a-lifetime opportunity.
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Great job @mactastic! You're going to be joining @jdhansen over in the next thread very soon!
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For those of you who have student loans, are you taking advantage of the current forbearance by applying that payment amount to your stache right now? Seems like a once-in-a-lifetime opportunity.
My student loans are refinanced with a private lender and thus not eligible for any of the current direct benefits. BUT I did refinance to a variable interest rate just a couple of months before all this started, and because of plummeting rates generally, my interest rate has fallen to 0.73%, which is (1) insane and (2) below the interest rate even my savings account is earning. So I'm paying only the minimum for now, and will continue to do so for as long as that's the case. I'd love to say I'm investing any extra, but instead I'm trying to beef up my emergency fund (currently have 3 months of expenses saved, would like to bump that up to 6). I'm not too worried about my job security, but who knows what the next few months might bring.
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For those of you who have student loans, are you taking advantage of the current forbearance by applying that payment amount to your stache right now? Seems like a once-in-a-lifetime opportunity.
My student loans are refinanced with a private lender and thus not eligible for any of the current direct benefits. BUT I did refinance to a variable interest rate just a couple of months before all this started, and because of plummeting rates generally, my interest rate has fallen to 0.73%, which is (1) insane and (2) below the interest rate even my savings account is earning. So I'm paying only the minimum for now, and will continue to do so for as long as that's the case. I'd love to say I'm investing any extra, but instead I'm trying to beef up my emergency fund (currently have 3 months of expenses saved, would like to bump that up to 6). I'm not too worried about my job security, but who knows what the next few months might bring.
Wow, that's an awesome rate! You're a smart one, @mckaylabaloney.
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For those of you who have student loans, are you taking advantage of the current forbearance by applying that payment amount to your stache right now? Seems like a once-in-a-lifetime opportunity.
My student loans are refinanced with a private lender and thus not eligible for any of the current direct benefits. BUT I did refinance to a variable interest rate just a couple of months before all this started, and because of plummeting rates generally, my interest rate has fallen to 0.73%, which is (1) insane and (2) below the interest rate even my savings account is earning. So I'm paying only the minimum for now, and will continue to do so for as long as that's the case. I'd love to say I'm investing any extra, but instead I'm trying to beef up my emergency fund (currently have 3 months of expenses saved, would like to bump that up to 6). I'm not too worried about my job security, but who knows what the next few months might bring.
Wow, that's an awesome rate! You're a smart one, @mckaylabaloney.
Honestly, I got lucky, in that I refinanced to a variable loan at just the right time, and that my high income made me eligible for a low rate to begin with.
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For those of you who have student loans, are you taking advantage of the current forbearance by applying that payment amount to your stache right now? Seems like a once-in-a-lifetime opportunity.
My student loans are refinanced with a private lender and thus not eligible for any of the current direct benefits. BUT I did refinance to a variable interest rate just a couple of months before all this started, and because of plummeting rates generally, my interest rate has fallen to 0.73%, which is (1) insane and (2) below the interest rate even my savings account is earning. So I'm paying only the minimum for now, and will continue to do so for as long as that's the case. I'd love to say I'm investing any extra, but instead I'm trying to beef up my emergency fund (currently have 3 months of expenses saved, would like to bump that up to 6). I'm not too worried about my job security, but who knows what the next few months might bring.
Wow, that's an awesome rate! You're a smart one, @mckaylabaloney.
Honestly, I got lucky, in that I refinanced to a variable loan at just the right time, and that my high income made me eligible for a low rate to begin with.
For people who are just starting their way to FI I totally believe a bigger EF is a great idea. 6 months is not a crazy target in an uncertain situation. You're missing out on gains but you trade it in for a safety net so you can sleep at night.
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For those of you who have student loans, are you taking advantage of the current forbearance by applying that payment amount to your stache right now? Seems like a once-in-a-lifetime opportunity.
My student loans are refinanced with a private lender and thus not eligible for any of the current direct benefits. BUT I did refinance to a variable interest rate just a couple of months before all this started, and because of plummeting rates generally, my interest rate has fallen to 0.73%, which is (1) insane and (2) below the interest rate even my savings account is earning. So I'm paying only the minimum for now, and will continue to do so for as long as that's the case. I'd love to say I'm investing any extra, but instead I'm trying to beef up my emergency fund (currently have 3 months of expenses saved, would like to bump that up to 6). I'm not too worried about my job security, but who knows what the next few months might bring.
Wow, that's an awesome rate! You're a smart one, @mckaylabaloney.
Honestly, I got lucky, in that I refinanced to a variable loan at just the right time, and that my high income made me eligible for a low rate to begin with.
For people who are just starting their way to FI I totally believe a bigger EF is a great idea. 6 months is not a crazy target in an uncertain situation. You're missing out on gains but you trade it in for a safety net so you can sleep at night.
I completely agree with my fellow lefty, but I would add the safety net an EF creates is much more valuable than just a sleep aid. It also helps you keep yourself afloat if the SHTF. If having an EF keeps you from raiding your investments, you're way ahead. I cringe every damn time someone says they can just pull money from their Roth. Yes, it's penalty free, but once you tap it, you can't put the money back. There is a huge opportunity cost to accessing that money. I know you're not in the US, @Imma, but I'm sure there's a European equivalent [bad] example. Emergency funds for the win!
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For those of you who have student loans, are you taking advantage of the current forbearance by applying that payment amount to your stache right now? Seems like a once-in-a-lifetime opportunity.
My student loans are refinanced with a private lender and thus not eligible for any of the current direct benefits. BUT I did refinance to a variable interest rate just a couple of months before all this started, and because of plummeting rates generally, my interest rate has fallen to 0.73%, which is (1) insane and (2) below the interest rate even my savings account is earning. So I'm paying only the minimum for now, and will continue to do so for as long as that's the case. I'd love to say I'm investing any extra, but instead I'm trying to beef up my emergency fund (currently have 3 months of expenses saved, would like to bump that up to 6). I'm not too worried about my job security, but who knows what the next few months might bring.
Wow, that's an awesome rate! You're a smart one, @mckaylabaloney.
Honestly, I got lucky, in that I refinanced to a variable loan at just the right time, and that my high income made me eligible for a low rate to begin with.
For people who are just starting their way to FI I totally believe a bigger EF is a great idea. 6 months is not a crazy target in an uncertain situation. You're missing out on gains but you trade it in for a safety net so you can sleep at night.
I completely agree with my fellow lefty, but I would add the safety net an EF creates is much more valuable than just a sleep aid. It also helps you keep yourself afloat if the SHTF. If having an EF keeps you from raiding your investments, you're way ahead. I cringe every damn time someone says they can just pull money from their Roth. Yes, it's penalty free, but once you tap it, you can't put the money back. There is a huge opportunity cost to accessing that money. I know you're not in the US, @Imma, but I'm sure there's a European equivalent [bad] example. Emergency funds for the win!
There are plenty of possible doom scenarios but fortunately I've never actually been in a situation where I had to use my EF. We have pretty decent unemployment benefits in my country and our monthly outgoings are low. But of course, the main reason to have one is to be able to use it when you're in an emergency situation.
You did make me wonder what the biggest financial risk is in my situation, and I've been thinking about it, it's probably separation. We have a housing shortage that seems to get worse every year, so prices are very high. We bought when homes were still affordable. If we would separate I wouldn't be able to buy anything on my income, not even if I would put down my share of the equity in our current house and all my liquidated investments. I'd still be 50k short for a studio apartment. And decent landlords have very high income standards so it would either be shared housing or a slum landlord. Or going back to my mother in my 30s and have a 2 hour commute to work. That would seriously be the most attractive solution.
Actually this is very good to be aware of even though I'm in a happy relationship, because this is exactly the kind of emergency that could suddenly happen and that I would have no control over.
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I'm graduating! The market picked right back up which was nice to see. Guess I'll be off to the 100k challenge thread now. Best of luck to everyone here, you're smashing it!
Investment update:
1/2/20 - £3000
1/3/20 - £4268.37
1/4/20 - £7309.86
1/5/20 - £8939.68
1/6/20 - £10,561.55
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I'm graduating! The market picked right back up which was nice to see. Guess I'll be off to the 100k challenge thread now. Best of luck to everyone here, you're smashing it!
Investment update:
1/2/20 - £3000
1/3/20 - £4268.37
1/4/20 - £7309.86
1/5/20 - £8939.68
1/6/20 - £10,561.55
That's some pretty snappy progress! Congratulations.
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Congrats @Gingersnaps! I'm joining you!
1/1/2018: $(170,956.12)
2/1/2018: $(166,849.63)
3/1/2018: $(161,395.88)
4/1/2018: $(156,590.44)
5/1/2018: $(152,997.61)
6/1/2018: $(149,175.48)
7/1/2018: $(143,748.22)
8/1/2018: $(138,734.38)
9/1/2018: $(135,043.66)
10/1/2018: $(131,441.14)
11/1/2018: $(133,372.50)
12/1/2018: $(128,081.25)
1/1/2019: $(80,750.78)
2/1/2019: $(73,422.02)
3/1/2019: $(60,122.64)
4/1/2019: $(54,342.22)
5/1/2019: $(48,858.05)
6/1/2019: $(49,269.97)
7/1/2019: $(29,802.87)
8/1/2019: $(25,751.08)
...
1/1/2020: $(4,873.13)
2/1/2020: $(4,647.56)
3/1/2020: $398.59
4/1/2020: $(9,003.54)
5/1/2020: $8,209.01
6/1/2020: $19,606.73
Had a nice little happy cry just now, running those numbers. Holy crap. (Reasons for the big increase this month: 3-paycheck month, continued market rebounds)
Thanks so much to all of you for your amazing support over the last 2+ years. I love this thread and I will definitely be back to cheer on everyone who is still fighting toward the goal of $10k!
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Amazing @mckaylabaloney - your numbers are incredible - see you over there!
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See you there @Gingersnaps and @mckaylabaloney !
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Congratulations @Gingersnaps and @mckaylabaloney!
(https://media2.giphy.com/media/d3dIaJLb3TXRwxyg/200.webp?cid=ecf05e47e113f6309845e9a8cd210e73ac51e1fb5aef6152&rid=200.webp)
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12/17/19: $21,427.67
01/26/20: $17,755.45
05/06/20: $13,179.59
05/08/20: $9,994.39
06/01/20: $8,018.36
Continuing to chip away and making sure I spend less.
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Hi to all savers. Great job and keep at it!
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Monthly update
12/17/19 - $0
2/1/20 - $3,282.45
3/1/20 - $4,254.70
4/1/20 - $3,579.25
5/1/20 - $5,386.17
6/1/20 - $7,006.17
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Monthly update
12/17/19 - $0
2/1/20 - $3,282.45
3/1/20 - $4,254.70
4/1/20 - $3,579.25
5/1/20 - $5,386.17
6/1/20 - $7,006.17
@NotSoMustachian Nice job!
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06/02/2020- $1650
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1/1/2018: $(170,956.12)
[snip]
5/1/2020: $8,209.01
6/1/2020: $19,606.73
That is amazing! Both your month over month and from where you started. Congratulations @mckaylabaloney!
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@mckaylabaloney holy smokes nicely done!
Current standing:
Student loans:
1/2020 (-214579.43)
2/2020 (-211582.61)
3/2020 (-207301.61)
4/2020 (-204914.65)
5/2020 (-202513.14)
Net Worth:
1/2020 (-205328.66)
2/2020 (-199646.97)
3/2020 (-191659.76)
4/2020 (-186896.40)
5/2020 (-181513.10)
Things will speed up eventually! Just pleased that we are able to throw ~50% gross income into wealth building every month
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06/02/2020- $1650
@CollegeRaven, welcome back! It's been a long time since your last post. How has it been going? Are you working?
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@mckaylabaloney holy smokes nicely done!
Current standing:
Student loans:
1/2020 (-214579.43)
2/2020 (-211582.61)
3/2020 (-207301.61)
4/2020 (-204914.65)
5/2020 (-202513.14)
Net Worth:
1/2020 (-205328.66)
2/2020 (-199646.97)
3/2020 (-191659.76)
4/2020 (-186896.40)
5/2020 (-181513.10)
Things will speed up eventually! Just pleased that we are able to throw ~50% gross income into wealth building every month
@Peaksandvalleys Wow, 50% savings rate is totally awesome. Way to go. Progress is happening fast.
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I'm commenting to come back later. Current savings accounts have $4500, RRSP has $1000, TFSA has $50, total of $5550. $2000 tuition has been prepaid for school this fall, for required training for my trade. I'll have to pay living expenses and pay for some repairs to make sure my vehicle is reliable.
I have a student loan of $9500 from earlier training, which included living expenses. I have some bad debts in my past.
Thankfully, I am back to work, and not paying rent because I live with my mom, and she won't take a penny as long as I am saving for school, so I help out as I can. It means a longer commute, which costs a lot in fuel and wear and tear on my vehicle, but it is still cheaper than renting, and I don't have to worry about clearing out an apartment before leaving for school, and my cat gets to stay here with care I trust, too.
I currently make about $30k per year, and I'll get to $50k in a few years. I intend to save intently, because tradesfolk are injury prone, and though I want to work for the next 20 years, I don't want to sacrifice my health to that end. As far as I can tell there are no unions for RV Service Technicians, no pensions. I love my work, but it would be great to FI and be able to RE if it no longer thrills me.
I'll have to revisit this thread after I finish school, and I can get more serious. I'm glad it's here, it seems to be a place for those who are just starting out.
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I currently make about $30k per year, and I'll get to $50k in a few years. I intend to save intently, because tradesfolk are injury prone, and though I want to work for the next 20 years, I don't want to sacrifice my health to that end. As far as I can tell there are no unions for RV Service Technicians, no pensions. I love my work, but it would be great to FI and be able to RE if it no longer thrills me.
Welcome @canadianrose! Sounds like a wise plan. Folks who work with their bodies do face more health/career risks than desk workers. My brother who worked a physical job also got really serious about saving in his mid to late thirties, and ended up FIREing at 45. It's good to have the option at least, even if you are loving the work.
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Hi everyone,
My current position is: EF - 2957, ETF: 530, Current Account: 1440 roughly (not sure if you include this) and my pension is just set up so no money in that yet. Currently all savings will go to my pension and taxable ETFs, about 798/month. I'm excited to get involved, great work everyone.
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Hi everyone
Welcome @IrishFI! I saw your other post regarding the car; so glad you decided to come over here! It's a great thread.
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Hi everyone
Welcome @IrishFI! I saw your other post regarding the car; so glad you decided to come over here! It's a great thread.
Thank you for the warm welcome. It's great to be able to connect with like minded people. It's easy to feel like an outcast at times on this journey.
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Hi everyone
Welcome @IrishFI! I saw your other post regarding the car; so glad you decided to come over here! It's a great thread.
Thank you for the warm welcome. It's great to be able to connect with like minded people. It's easy to feel like an outcast at times on this journey.
Imagine what it was like in the pre-internet days, before such forums existed. Oh, sorry, that was a flashback. Thank goodness you won't have to do this alone.
It's motivating and inspiring to have support from like-minded people. Once you dig in, it's surprising how fast it can happen. Congratulations on beginning your journey!
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I accidentally deleted my previous post... Oh well, update
Student loan - ($24,871.7)
Credit card debt - 5500
Savings - $900
Checking - $200
401K - 26,696.66.55
Roth IRA - 810
Total - (1,590)
Ok, time to check in again. I upped my savings due to market fears. My 401k hit 30,000 about a month ago and then the market went to shit and so did my positive net worth. I dropped all the way back to 24,000.
Student loan - ($24,307.7)
Credit card debt - 6100
Savings - $3500
Checking - $200
401K - 24,615
Roth IRA - 910
Total - (1,283)
I decided to get rid of my credit card debt against better judgement but I couldn’t keep looking at it anymore. I do work in a job that is still hiring and we are super understaffed so I remain somewhat confident, I won’t lose it soon. I am back to a positive net worth now. I have upped my 401k contribution which I lowered three months ago to concentrate on debt payment.
Student loan - ($24,307.94)
Savings - $500
Checking - $300
401K - 27,837
Roth IRA - 963
Total - 5,339
I may actually graduate from this thread this year which is crazy to me.
It seems graduation is upon me. I have magically reached 10K in terms of net worth. I genuinely feel like I don't want to leave this thread but I guess, we all have to some day. I have felt like I haven't made progress money wise but when I first joined this thread I had a car loan, 30K in student debt and about 6k in credit card debt. The car was paid off a year ago, student loan is reduced and the credit card debt is largely gone. Thanks to my 401K, I have just dipped over 10K. Now, if the market tanks, I'll probably be back.
Student loan - ($24,307.94)
Credit card - ($240)
Savings - $2300
Checking - $240
401K - 31,017
Roth IRA - 1,063.71
Total - 10,073
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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
Found one of my first posts. Dear past me, we made it to 10K.
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COngratulations @Rimu05! You will really pick up speed now!
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12/17/19: $21,427.67
01/26/20: $17,755.45
05/06/20: $13,179.59
05/08/20: $9,994.39
06/01/20: $8,018.36
06/29/20: $4,370.98
Unexpected side hustle helped this month.
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12/17/19: $21,427.67
01/26/20: $17,755.45
05/06/20: $13,179.59
05/08/20: $9,994.39
06/01/20: $8,018.36
06/29/20: $4,370.98
Unexpected side hustle helped this month.
Wow what a great month! Way to keep at it @paulkots!
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Another graduation post!
Sept 2019:
Starting Debt: $60,811.05
Starting savings: $46,123.39
Where it stands: (-14,687.66)
Targeted student loan balance: $5463
June 2020:
Current Debt: $46,080
Current savings: $60,409
Where it stands: +$14,410
Targeted student loan balance: PAID OFF!
It's pretty cool to see that in just 9 months, our debt and savings numbers have switched almost exactly. My husband's car was stolen and totaled last month, but we ended up with a nice payout, and were able to purchase my parents' old car (already planned) for half what we settled for. I think we'll throw the rest to my husband's student loan while it's still zero percent, giving us a decent amount of wiggle room if needed when baby comes in the fall. It feels weird to have hit every single financial goal I set for 2020 halfway through the year, but is a good confidence-booster of what we can accomplish when we put our minds to it. Have decided to set a "second half" set of goals to keep up the momentum!
Thanks to everyone in this thread for the support, and inspiration. Having a place to check in with like-minded people each month instead of just celebrating our progress alone with my spreadsheet has been tremendous. Best of luck to those of you still on the journey - you can do it!
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Yay @mactastic congratulations!! You've done a fantastic job achieving your goals 6 months early. Having a positive net worth when baby arrives in a couple of months will hopefully give you some peace of mind.
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@mactastic, yay for crushing debt and yay for babies!
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Congratulations @mactastic! That's FANtastic!!
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@mactastic - and to think you did it during a pandemic! Great job!!
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Monthly update
12/17/19 - $0
2/1/20 - $3,282.45
3/1/20 - $4,254.70
4/1/20 - $3,579.25
5/1/20 - $5,386.17
6/1/20 - $7,006.17
7/1/20 - $8,731.20
Don't think there will be much add this month with the summer vacation expenses.
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Way to go @mactastic!
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Nice work @mactastic
See you in the race to 100k thread.
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I think I started out in this thread and lost track over the past few years as I have been consumed by a pile of medical debt from two surgeries. I have been aggressively paying the bills off, and am looking at the light at the end of the tunnel now, and have less than $600 of medical bills left to pay! I have some consumer debt from being unemployed for 4 months over the winter, but I am paying that off quickly, and hope to be debt free with a net worth of $10k by November. I was really embarrassed to calculate my net worth for a few years there when I had $15-20k in medical debt at times, but now that I am so close to the end it has really been motivating! I'm excited to track my progress to $10k here. I also just got a new job in February, and it's my first time having a 401K with a match (4%!), so it's been exciting to watch that money grow with what feels like very little effort from me.
05/01- $2382.02
05/15- $3627.00
05/29- $4443.54
06/12- $4819.10
06/26- $5000.00
07/10- $5520.67
Debts:
CC Debt @ 0% interest- $2281.00
Medical bills- $562.39
Regular daily use CCs (paid off in full every month) - $993.21
Assets:
Savings- $2346.00
Checking- $258.00
Car Savings- $1316.79
Traditional IRA- $3975.00
401k- $1455.00
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Welcome back @mountain mustache! Sounds like you've got your feet back under you and are making great progress!
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I'm very happy this thread is alive and kick-assing (pardon my language) :)
Great job by all. Keep reducing the CC and other non-mortgage debts one month at a time.
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Little late to the July update
12/17/19 - $0
2/1/20 - $3,282.45
3/1/20 - $4,254.70
4/1/20 - $3,579.25
5/1/20 - $5,386.17
6/1/20 - $7,006.17
7/1/10 - $8,731.20
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I'm very happy this thread is alive and kick-assing (pardon my language) :)
Great job by all. Keep reducing the CC and other non-mortgage debts one month at a time.
One of the things I love about this forum is that no apologizing for language is allowed required necessary.
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This is a great thread! It's awesome to read other people's stories and progress at the beginning of the journey.
I started getting serious about cutting costs and fixing my finances a couple years ago, but I still needed time to fix the real problems: mental health issues and some self-medicating habits. With lots of progress on these issues, I've seen real serious progress on the financial side of things over the last year. I just finished paying off a loan through Best Egg that I used to consolidate some ugly CC debt, and subsequently finally went net worth positive (all in the same month!).
A bit of employment background: I brew beer for a living, and am the only production worker in our brewery. As a beverage manufacturer, my job was considered essential by New York State during the shutdown, so I've been working a fair amount during the pandemic. I just got a 10% raise last month, bringing me to $45K/yr.
Month Net Worth
06/30/19 - ($15,856)
07/31/19 - ($15,582)
08/31/19 - ($15,289)
09/30/19 - ($14,461)
10/31/19 - ($12,966)
11/30/19 - ($10,829)
12/31/19 - ($10,285)
01/31/20 - ($9,457)
02/29/20 - ($8,865)
03/31/20 - ($9,040)
04/30/20 - ($6,366)
05/31/20 - ($4,051)
06/30/20 - ($1,545)
Today - $988
Here's hoping to break through $10K by the end of the year! It feels great to finally be seeing real progress!!
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Welcome @darknova306, and congrats on crossing The Zero!! You're making really good progress. Nice job!
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12/17/19: $21,427.67
01/26/20: $17,755.45
05/06/20: $13,179.59
05/08/20: $9,994.39
06/01/20: $8,018.36
06/29/20: $4,370.98
Unexpected side hustle helped this month.
07/21/2020: $1,499.88
Finished just a bit earlier since my check showed up earlier and also sold a few things I didn't need on eBay. Birthday also helped since a few people didn't want to go shopping so they gave cash.
Saving to $10k will slow down, quarterly taxes are due September so I need fund that account.
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05/01- $2382.02
05/15- $3627.00
05/29- $4443.54
06/12- $4819.10
06/26- $5000.00
07/10- $5520.67
Debts:
CC Debt @ 0% interest- $2281.00
Medical bills- $562.39
Regular daily use CCs (paid off in full every month) - $993.21
Assets:
Savings- $2346.00
Checking- $258.00
Car Savings- $1316.79
Traditional IRA- $3975.00
401k- $1455.00
End of June update. Ugh. This last two weeks was really tough. I was furloughed 1 week, so I only got a paycheck for 1 week of work. My 401k contribution was 50% of normal because of that as well. And then I had a $750 car repair that I had to take out of my car savings. Sooooo I had a bit of a backwards month. I'm happy to still have paid off $400 of debt. Looking forward to my next paycheck, and hopefully some positive strides!
05/01- $2382.02
05/15- $3627.00
05/29- $4443.54
06/12- $4819.10
06/26- $5000.00
07/10- $5520.67
07/24- $5232.52
Debts:
CC Debt @ 0% interest- $2046.20
Medical bills- $368.39
Regular daily use CCs (paid off in full every month) - $1215.39
Assets:
Savings- $2346.00
Checking- $202.49
Car Savings- $566.79-
Traditional IRA- $4092.42
401k- $1655.30
-
06/02/2020- $1650
@CollegeRaven, welcome back! It's been a long time since your last post. How has it been going? Are you working?
Thanks!
Yeah, started working as a research tech last year. It's a bit less than I expected but I guess that's the price to pay for relative job security. Going to probably move to a pharma company once the current crisis is over.
06/02/2020- $1650
07/27/2020 - $3000
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Last month was SO hard....and then at the end of the month I got a shocking surprise, and one of my best friends sent me a check to pay off the rest of my medical bills and most of my remaining debt. Stuff like this never happens to me, so I was floored. I've never asked anyone for financial help, and feel 100% responsible for my debt, because it was my choice, etc. BUT it was such a huge help, and it just turned everything around after having such a rough July with furlough, no unemployment, and a crazy car repair. I'm so grateful. I think I will be out of this thread sooner than I expected!
05/01- $2382.02
05/15- $3627.00
05/29- $4443.54
06/12- $4819.10
06/26- $5000.00
07/10- $5520.67
07/24- $5232.52
08/07- $7963.03
Debts:
CC Debt @ 0% interest- $645
Regular daily use CCs (paid off in full every month) - $875.50
Assets:
Savings- $2546.00
Checking- $200.00
Car Savings- $667.40
Traditional IRA- $4216.06
401k- $1852.19
-
My Update for the month, I'm expecting this to be the last month in this thread baring something wild happening. Only counting investment accounts, with cash I'm already there.
12/17/19 - $0
2/1/20 - $3,282.45
3/1/20 - $4,254.70
4/1/20 - $3,579.25
5/1/20 - $5,386.17
6/1/20 - $7,006.17
7/1/20 - $8,731.20
8/1/20 - $9,325.89
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@mountain mustache -- that's an amazing story! Life is wonderful like that sometimes. One of the many great things about being a mustachian is that in the future, if you see an opportunity you'll be able to pay that gift forward to someone else, and make a big difference to them when they need it.
@NotSoMustachian -- great job! You're almost there. :)
-
BoI savings: 50.00
DiBa ETF: 2,088.97 (in January I commented that I had passed the 2,000 mark - since then I have invested 400 more, but am still just past the 2,000 mark. At least I don't seem to often dip below it very often anymore.)
CmzBank savings a/c: 3,200.00
Total: +5,338.97
BoI savings: 20.00
DiBa ETF: 2,601.00
CmzBank savings a/c: 3,350.00
Total: +5,971.00
Feeling very broke as my annual expenses and travel accounts are both down to almost nothing. But a lot of my annual expenses have to be paid at the end of July or start of August, and that's when my BahnCard* also has to be paid. Have to remember that that is the reason I have these accounts and is also the reason I don't count them in my total here. Those accounts will build up with their automatic deposits over the next few months until the next annual expenses are due. That's what they're there for!
* This is a card I buy annually, which gives me 50% off standard rail fares and about 25% off special offer prices. It costs €240 per year but between the savings on travel and the points collected, which can be redeemed for, among other things, free train tickets, I come out ahead by a few hundred euro every year. Except probably not this year but even so, on average, I will have saved more than I spend on it.
-
Just trucking along. I'm hoping 3 more paychecks will graduate me from this thread!
05/01- $2382.02
05/15- $3627.00
05/29- $4443.54
06/12- $4819.10
06/26- $5000.00
07/10- $5520.67
07/24- $5232.52
08/07- $7963.03
08/21- $8856.79
Debts:
CC Debt @ 0% interest- $556.54
Regular daily use CCs (paid off in full every month) - $958.74
Assets:
Savings- $2547.88
Checking- $855
Car Savings- $667.40
Traditional IRA- $4289.42
401k- $2012.87
-
End of August update. The past two months have been pretty good for me on the savings front. I finally opened a high-yield savings account to put the bulk of my emergency fund into to start growing. My current financial plan has me paying off my final loan and building a six month emergency fund by August next year. It feels great to finally be seeing results!
Month Net Worth
06/30/19 - ($15,856)
07/31/19 - ($15,582)
08/31/19 - ($15,289)
09/30/19 - ($14,461)
10/31/19 - ($12,966)
11/30/19 - ($10,829)
12/31/19 - ($10,285)
01/31/20 - ($9,457)
02/29/20 - ($8,865)
03/31/20 - ($9,040)
04/30/20 - ($6,366)
05/31/20 - ($4,051)
06/30/20 - ($1,545)
07/31/20 - $1,585
08/29/20 - $3,350
-
End of August update. The past two months have been pretty good for me on the savings front. I finally opened a high-yield savings account to put the bulk of my emergency fund into to start growing. My current financial plan has me paying off my final loan and building a six month emergency fund by August next year. It feels great to finally be seeing results!
Month Net Worth
06/30/19 - ($15,856)
07/31/19 - ($15,582)
08/31/19 - ($15,289)
09/30/19 - ($14,461)
10/31/19 - ($12,966)
11/30/19 - ($10,829)
12/31/19 - ($10,285)
01/31/20 - ($9,457)
02/29/20 - ($8,865)
03/31/20 - ($9,040)
04/30/20 - ($6,366)
05/31/20 - ($4,051)
06/30/20 - ($1,545)
07/31/20 - $1,585
08/29/20 - $3,350
Great progress @darknova306! Just look at how far you've come!
-
Been a few months since we posted, making steady progress but still a long way to go!
Student loans:
1/2020 (-214579.43)
2/2020 (-211582.61)
3/2020 (-207301.61)
4/2020 (-204914.65)
5/2020 (-202513.14)
6/2020 (-200181.89)
7/2020 (-197983.46)
8/2020 (-196029.22)
Net Worth:
1/2020 (-205328.66)
2/2020 (-199646.97)
3/2020 (-191659.76)
4/2020 (-186896.40)
5/2020 (-181513.10)
6/2020 (-178484.73)
7/2020 (-172077.14)
8/2020 (-168229.16)
-
Bi-weekly update:
3/30/2019:
1. Broker: $2,004.04
2. 401k: $1,813.10 (22% contribution rate).
4/15/2019:
1. Broker 2,043.45 ($2,000 deposited, $43.45 gain)
2. 401k: $2,786.76 ($2,732 contributed, $54.76 gain)
Saved to date: $4,830.21 (48% towards goal).
Hi guys, been a long time since I posted in this thread but I had a kid last October and was extremely busy until recently. Wanted to provide an update and let everyone know that I've broken $40K saved ending Sept. 1st so technically speaking I've already graduated from this thread. Wanted to check in and also wish everyone else luck!
-
Bi-weekly update:
3/30/2019:
1. Broker: $2,004.04
2. 401k: $1,813.10 (22% contribution rate).
4/15/2019:
1. Broker 2,043.45 ($2,000 deposited, $43.45 gain)
2. 401k: $2,786.76 ($2,732 contributed, $54.76 gain)
Saved to date: $4,830.21 (48% towards goal).
Hi guys, been a long time since I posted in this thread but I had a kid last October and was extremely busy until recently. Wanted to provide an update and let everyone know that I've broken $40K saved ending Sept. 1st so technically speaking I've already graduated from this thread. Wanted to check in and also wish everyone else luck!
Congratulations on the baby and on turning your screen name into a misnomer!
-
Been a few months since we posted, making steady progress but still a long way to go!
Student loans:
1/2020 (-214579.43)
2/2020 (-211582.61)
3/2020 (-207301.61)
4/2020 (-204914.65)
5/2020 (-202513.14)
6/2020 (-200181.89)
7/2020 (-197983.46)
8/2020 (-196029.22)
Net Worth:
1/2020 (-205328.66)
2/2020 (-199646.97)
3/2020 (-191659.76)
4/2020 (-186896.40)
5/2020 (-181513.10)
6/2020 (-178484.73)
7/2020 (-172077.14)
8/2020 (-168229.16)
Nice steady progress @Peaksandvalleys! Are you paying off student loans?
-
Congrats all around, @ForeverPoor!
-
We are continuing to pay down the loans, they are currently privately held with an average rate ~3.75%. Not benefiting from the interest freeze as we refinanced early before all this started.
Been a few months since we posted, making steady progress but still a long way to go!
Student loans:
1/2020 (-214579.43)
2/2020 (-211582.61)
3/2020 (-207301.61)
4/2020 (-204914.65)
5/2020 (-202513.14)
6/2020 (-200181.89)
7/2020 (-197983.46)
8/2020 (-196029.22)
Net Worth:
1/2020 (-205328.66)
2/2020 (-199646.97)
3/2020 (-191659.76)
4/2020 (-186896.40)
5/2020 (-181513.10)
6/2020 (-178484.73)
7/2020 (-172077.14)
8/2020 (-168229.16)
Nice steady progress @Peaksandvalleys! Are you paying off student loans?
-
Been a few months since we posted, making steady progress but still a long way to go!
Student loans:
1/2020 (-214579.43)
2/2020 (-211582.61)
3/2020 (-207301.61)
4/2020 (-204914.65)
5/2020 (-202513.14)
6/2020 (-200181.89)
7/2020 (-197983.46)
8/2020 (-196029.22)
Net Worth:
1/2020 (-205328.66)
2/2020 (-199646.97)
3/2020 (-191659.76)
4/2020 (-186896.40)
5/2020 (-181513.10)
6/2020 (-178484.73)
7/2020 (-172077.14)
8/2020 (-168229.16)
@Peaksandvalleys I applaud your progress. Paying off over $200k in student loans is no
small feat...
-
And we turn the page on a new month! How is everyone doing?
-
Well, September had some major budgeted expenses, like vehicle insurance, etc. With that and the markets dipping, September wasn't as good a month as I'd like, but I'm still hoping to hit $10K by the end of 2020. Either way, progress feels good!
Month Net Worth
06/30/19 - ($15,856)
07/31/19 - ($15,582)
08/31/19 - ($15,289)
09/30/19 - ($14,461)
10/31/19 - ($12,966)
11/30/19 - ($10,829)
12/31/19 - ($10,285)
01/31/20 - ($9,457)
02/29/20 - ($8,865)
03/31/20 - ($9,040)
04/30/20 - ($6,366)
05/31/20 - ($4,051)
06/30/20 - ($1,545)
07/31/20 - $1,585
08/29/20 - $3,350
09/30/20 - $4,245
-
Still a great month dn306!
I have been not looking after my financial life properly at all. Have invoices to write for side-gig work I did in July and September and, well, basically have spent that money already. Very odd feeling, I haven't been this careless with money for a long, long time. Plan to get those invoices out at the weekend and clear the overdraft.
In the meantime, at least my standard savings have been continuing to head off to their allocated pots.
BoI savings: 20.00
DiBa ETF: 2,601.00
CmzBank savings a/c: 3,350.00
Total: +5,971.00
BoI savings: 20.00
DiBa ETF: 2,787.57
CmzBank savings a/c: 3,450.00
Total: +6,257,57
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Today is the day I graduate from this thread! Ok, I actually hit this last week when I sold my race mountain bike for $6,000, but I wanted to wait until an official payday to tally everything up. I haven't moved money around from checking to CCs and Savings yet, so the rest of my debt will be gone in a few days once I sit down and pay it.
05/01- $2382.02
05/15- $3627.00
05/29- $4443.54
06/12- $4819.10
06/26- $5000.00
07/10- $5520.67
07/24- $5232.52
08/07- $7963.03
08/21- $8856.79
10/02- $14836.49
Debts:
CC Debt @ 0% interest- $515.00
Regular daily use CCs (paid off in full every month) - $1205.76
Assets:
Savings- $2704.00
Checking- $6250.00
Car Savings- $868.11
Traditional IRA- $4304.83
401k- $2429.00
-
Congratulations @mountain mustache !!! So fantastic that you get to cross the 10k mark and go debt-free! Those are a couple of really sweet milestones. The momentum is yours now. Go for it!
(https://media1.giphy.com/media/ehhuGD0nByYxO/200.webp?cid=ecf05e47acy2ygxzfihboanwkpvu4wmnmfc4k6ygd2ta9pj0&rid=200.webp)
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Way to go @mountain mustache!!
-
Joining you all so I can keep myself even more accountable for my spending. I am only listing my personal goal of getting my net worth to $10k (to start). Hubby and I have combined assets that he calculates our combined net worth each month, but this is more for me since I am working on getting my student loan debt finally paid off. Been working really hard on this since the new year. Originally I had planned to pay this off by May of 2022. But since Covid and we cannot go anywhere or pretty much do anything fun, I have extra money each month that I have been throwing on my loan and am really making a dent in it this year. Going to post my original starting point in May since my retirement account was sold to Schwab and I cannot access my old statements right now from USAA.
5/30/20 - SEP Balance $ 9978.42 + Roth $ 1351.05 - Student loan balance $ 12935.98 = ($ 1606.51)
6/30/20 - SEP Balance $ 10832.73 + Roth $ 1508.90 - Student loan balance $ 12356.80 = ($ 15.17)
7/31/20 - SEP Balance $ 11603.18 + Roth $ 1508.90 - Student loan balance $ 11772.61 = $ 1339.47
8/31/20 - SEP Balance $ 12893.54 + Roth $ 1508.90 - Student loan balance $ 11188.88 = $ 3213.56
9/30/20 - SEP Balance $ 12959.91 + Roth $ 1602.40 - Student loan balance $ 9975.16 = $ 4587.15
So I am not sure why, but my Roth didn't do a statement for me from July and August for some reason, will have to investigate that one. September was not so great for my SEP account apparently, but made a big student loan payment last month that made up for the investment account dive. Can't wait to update at the end of the month, about to make another big student loan payment tomorrow. Investments are up and down most days, but it usually ends up being a plus at the end of the month because of my weekly contributions.
-
Joining you all so I can keep myself even more accountable for my spending.
Welcome! :)
-
12/17/19: $21,427.67
01/26/20: $17,755.45
05/06/20: $13,179.59
05/08/20: $9,994.39
06/01/20: $8,018.36
06/29/20: $4,370.98
07/21/2020: $1,499.88
Finished just a bit earlier since my check showed up earlier and also sold a few things I didn't need on eBay. Birthday also helped since a few people didn't want to go shopping so they gave cash.
Saving to $10k will slow down, quarterly taxes are due September so I need fund that account.
10/23/2020: $8,269.88
Numbers look better than they are. Still need to pay quarterly taxes, I am behind with Roth IRA and both house taxes and insurance is coming up next month.
-
5/30/20 - SEP Balance $ 9978.42 + Roth $ 1351.05 - Student loan balance $ 12935.98 = ($ 1606.51)
6/30/20 - SEP Balance $ 10832.73 + Roth $ 1508.90 - Student loan balance $ 12356.80 = ($ 15.17)
7/31/20 - SEP Balance $ 11603.18 + Roth $ 1508.90 - Student loan balance $ 11772.61 = $ 1339.47
8/31/20 - SEP Balance $ 12893.54 + Roth $ 1508.90 - Student loan balance $ 11188.88 = $ 3213.56
9/30/20 - SEP Balance $ 12959.91 + Roth $ 1602.40 - Student loan balance $ 9975.16 = $ 4587.15
10/30/20 - SEP Balance $ 13277.71 + Roth $ 1577.77 - Student loan balance $ 7487.82 = $ 7367.66
Getting closer. Had a great month working extra hours and dumping $2500 on my student loan.
-
October was a pretty good month for me, despite the market tanking lately. Might not hit $10K by the end of this year, but the constant progress feels great!
Month Net Worth
06/30/19 - ($15,856)
07/31/19 - ($15,582)
08/31/19 - ($15,289)
09/30/19 - ($14,461)
10/31/19 - ($12,966)
11/30/19 - ($10,829)
12/31/19 - ($10,285)
01/31/20 - ($9,457)
02/29/20 - ($8,865)
03/31/20 - ($9,040)
04/30/20 - ($6,366)
05/31/20 - ($4,051)
06/30/20 - ($1,545)
07/31/20 - $1,585
08/29/20 - $3,350
09/30/20 - $4,245
10/31/20 - $6,168
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Every time I come check out this thread it makes me happy.
Getting from negative to 10K net worth is such a major life situation change!
$5-10K in savings is enough to get past a whole lot of life's dammits that occasionally come one's way. Instead of a dire emergency those dammits are down to a nuisance. That's so important.
It's enough to establish and reward the habits that will build real wealth after $10K is reached.
Yeah, all of you!
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October was a pretty good month for me, despite the market tanking lately. Might not hit $10K by the end of this year, but the constant progress feels great!
Month Net Worth
06/30/19 - ($15,856)
07/31/19 - ($15,582)
08/31/19 - ($15,289)
09/30/19 - ($14,461)
10/31/19 - ($12,966)
11/30/19 - ($10,829)
12/31/19 - ($10,285)
01/31/20 - ($9,457)
02/29/20 - ($8,865)
03/31/20 - ($9,040)
04/30/20 - ($6,366)
05/31/20 - ($4,051)
06/30/20 - ($1,545)
07/31/20 - $1,585
08/29/20 - $3,350
09/30/20 - $4,245
10/31/20 - $6,168
Keep it up, you'll be graduated from this thread by early next year!
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Every time I come check out this thread it makes me happy.
Getting from negative to 10K net worth is such a major life situation change!
$5-10K in savings is enough to get past a whole lot of life's dammits that occasionally come one's way. Instead of a dire emergency those dammits are down to a nuisance. That's so important.
It's enough to establish and reward the habits that will build real wealth after $10K is reached.
Yeah, all of you!
@SwordGuy that's awesome. I agree about the savings cushion:
It's amazing how a comparatively small thing can make such a huge difference.
-
12/17/19: $21,427.67
01/26/20: $17,755.45
05/06/20: $13,179.59
05/08/20: $9,994.39
06/01/20: $8,018.36
06/29/20: $4,370.98
07/21/2020: $1,499.88
10/23/2020: $8,269.88
Numbers look better than they are. Still need to pay quarterly taxes, I am behind with Roth IRA and both house taxes and insurance is coming up next month.
11/23/2020: $4,556.60
Had a frugal month so I was about to catch up with some expenses.
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5/30/20 - SEP Balance $ 9978.42 + Roth $ 1351.05 - Student loan balance $ 12935.98 = ($ 1606.51)
6/30/20 - SEP Balance $ 10832.73 + Roth $ 1508.90 - Student loan balance $ 12356.80 = ($ 15.17)
7/31/20 - SEP Balance $ 11603.18 + Roth $ 1508.90 - Student loan balance $ 11772.61 = $ 1339.47
8/31/20 - SEP Balance $ 12893.54 + Roth $ 1508.90 - Student loan balance $ 11188.88 = $ 3213.56
9/30/20 - SEP Balance $ 12959.91 + Roth $ 1602.40 - Student loan balance $ 9975.16 = $ 4587.15
10/31/20 - SEP Balance $ 13277.71 + Roth $ 1577.77 - Student loan balance $ 7487.82 = $ 7367.66
11/30/20 - SEP Balance $ 15524.45 + Roth $ 1770.76 - Student loan balance $ 6897.45 = $ 10,397.76
Well looks like I am graduating from this group. Had a good month in the market and adding more to my SEP weekly, put me over the $10k line. Hope to see you all soon in the race from 10K to 100K.
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Well done @regenaeb ! See you in the next thread!
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5/30/20 - SEP Balance $ 9978.42 + Roth $ 1351.05 - Student loan balance $ 12935.98 = ($ 1606.51)
6/30/20 - SEP Balance $ 10832.73 + Roth $ 1508.90 - Student loan balance $ 12356.80 = ($ 15.17)
7/31/20 - SEP Balance $ 11603.18 + Roth $ 1508.90 - Student loan balance $ 11772.61 = $ 1339.47
8/31/20 - SEP Balance $ 12893.54 + Roth $ 1508.90 - Student loan balance $ 11188.88 = $ 3213.56
9/30/20 - SEP Balance $ 12959.91 + Roth $ 1602.40 - Student loan balance $ 9975.16 = $ 4587.15
10/31/20 - SEP Balance $ 13277.71 + Roth $ 1577.77 - Student loan balance $ 7487.82 = $ 7367.66
11/30/20 - SEP Balance $ 15524.45 + Roth $ 1770.76 - Student loan balance $ 6897.45 = $ 10,397.76
Well looks like I am graduating from this group. Had a good month in the market and adding more to my SEP weekly, put me over the $10k line. Hope to see you all soon in the race from 10K to 100K.
Great job @regenaeb! Onward!
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Well done regenaeb!
I have been spending like there's no tomorrow. We get a bonus/extra payment in November and up until a couple of weeks ago I was planning on saving it. Instead I have bought new boots, a few things for the house (that have been on the list for a long time but that I could easily have lived without for another while), some fancy wool and other craft supplies, food from the English foods shop (expensive because it's stuff that's normally not sold here). All this on top of being a bit careless with money in general over the past few month. I've been using my credit card and procrastinating on issuing invoices, which is the most ridiculous I have been with money for a very long time. Anyway, that's all on 0% at the moment and I've written and sent invoices and will be able to clear it when that money arrives.
BoI savings: 50.00
DiBa ETF: 2,088.97 (in January I commented that I had passed the 2,000 mark - since then I have invested 400 more, but am still just past the 2,000 mark. At least I don't seem to often dip below it very often anymore.)
CmzBank savings a/c: 3,200.00
Total: +5,338.97
I can't quite believe it has been almost five months since I posted a numbers update. March and April were admittedly very skewy in terms of what time felt like. The numbers are going down rather than up but that is life at the moment. I took a big leap of faith and the somewhat unMustachian step of renting a second small studio apartment. This will serve as my office but also as storage to allow me to make my living space less cramped and full of stuff so that, hopefully, the mental health boost will be significant. I've taken money from savings to pay the deposit, etc. As I will be using it as an office, I will be able to set off most of the costs from taxes on my side-income so that is something. I want to get a few plants but otherwise don't plan on spending any money on the new place - I may need to get a WiFi extender of some kind but it is on the same floor as my current apartment so I should be able to get away with that without needing to pay for a second internet connection.
Of course, despite continuing to save monthly into my ETF plans, the market dropping means that it mostly feels like I've been treading water there. But we keep on keeping on, because that's what we do around here.
Really, what happened is that I never quite wrapped my head around adjusting my budget to account for the new studio/office rent so there was a bit of a drip, drip, drip of spending that should have been reined in to compensate for the new expenses but wasn't. So, to get back on track, even though/especially because it's December, when it's very easy to spend a lot of money, I forked out for the full version of goodbuget and spent some time setting that up last week. I tried it before about a year ago but never fully figured it out. It's based on the envelope system which worked well for me years ago. So far, one day into the new month, it's going well. I need to get my head in the game again. In the meantime, my normal small contributions to ETF and savings have continued - that's something at least.
BoI savings: 5.00
DiBa ETF: 3,149.35
CmzBank savings a/c: 3,500.00
Total: +6,654.35
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Good thoughtful update @Moonwaves. If you keep examining your spending and exercising your frugality muscles you will get there. And we'll be here to cheer you as you cross the finish line of the thread!
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November was a pretty good month, so I'm getting really close! December will likely be a bit tighter for me, mainly due to some vehicle repairs, but I should cross the $10K threshold early next year!
Month Net Worth
06/30/19 - ($15,856)
07/31/19 - ($15,582)
08/31/19 - ($15,289)
09/30/19 - ($14,461)
10/31/19 - ($12,966)
11/30/19 - ($10,829)
12/31/19 - ($10,285)
01/31/20 - ($9,457)
02/29/20 - ($8,865)
03/31/20 - ($9,040)
04/30/20 - ($6,366)
05/31/20 - ($4,051)
06/30/20 - ($1,545)
07/31/20 - $1,585
08/29/20 - $3,350
09/30/20 - $4,245
10/31/20 - $6,168
11/30/20 - $8,026
-
Student loans:
1/2020 (-214579.43)
2/2020 (-211582.61)
3/2020 (-207301.61)
4/2020 (-204914.65)
5/2020 (-202513.14)
6/2020 (-200181.89)
7/2020 (-197983.46)
8/2020 (-196029.22)
9/2020 (-194058.61)
10/2020 (-192182.33)
11/2020 (-190229.11)
Net Worth:
1/2020 (-205328.66)
2/2020 (-199646.97)
3/2020 (-191659.76)
4/2020 (-186896.40)
5/2020 (-181513.10)
6/2020 (-178484.73)
7/2020 (-172077.14)
8/2020 (-168229.16)
9/2020 (-164226.67)
10/2020 (-158892.28)
11/2020 (-151654.07)
Making slow progress, will post back in several months
-
Student loans:
1/2020 (-214579.43)
2/2020 (-211582.61)
3/2020 (-207301.61)
4/2020 (-204914.65)
5/2020 (-202513.14)
6/2020 (-200181.89)
7/2020 (-197983.46)
8/2020 (-196029.22)
9/2020 (-194058.61)
10/2020 (-192182.33)
11/2020 (-190229.11)
Net Worth:
1/2020 (-205328.66)
2/2020 (-199646.97)
3/2020 (-191659.76)
4/2020 (-186896.40)
5/2020 (-181513.10)
6/2020 (-178484.73)
7/2020 (-172077.14)
8/2020 (-168229.16)
9/2020 (-164226.67)
10/2020 (-158892.28)
11/2020 (-151654.07)
Making slow progress, will post back in several months
If I'm reading this correctly, that's actually pretty darn good progress, especially during a pandemic!
-
Student loans:
1/2020 (-214579.43)
2/2020 (-211582.61)
3/2020 (-207301.61)
4/2020 (-204914.65)
5/2020 (-202513.14)
6/2020 (-200181.89)
7/2020 (-197983.46)
8/2020 (-196029.22)
9/2020 (-194058.61)
10/2020 (-192182.33)
11/2020 (-190229.11)
Net Worth:
1/2020 (-205328.66)
2/2020 (-199646.97)
3/2020 (-191659.76)
4/2020 (-186896.40)
5/2020 (-181513.10)
6/2020 (-178484.73)
7/2020 (-172077.14)
8/2020 (-168229.16)
9/2020 (-164226.67)
10/2020 (-158892.28)
11/2020 (-151654.07)
Making slow progress, will post back in several months
If I'm reading this correctly, that's actually pretty darn good progress, especially during a pandemic!
Yes, you are doing great!!! You increased your net worth by $55000 in 11 months! That's more than many people earn in a month, let alone save. You're doing fine.
@Moonwaves good to see an update from you as well. It's a strange time. I can't blame you for buying a few craft supplies and some food from home. You're still moving in the right direction and we all need to find a way to cope with the pandemic.
-
Student loans:
1/2020 (-214579.43)
2/2020 (-211582.61)
3/2020 (-207301.61)
4/2020 (-204914.65)
5/2020 (-202513.14)
6/2020 (-200181.89)
7/2020 (-197983.46)
8/2020 (-196029.22)
9/2020 (-194058.61)
10/2020 (-192182.33)
11/2020 (-190229.11)
Net Worth:
1/2020 (-205328.66)
2/2020 (-199646.97)
3/2020 (-191659.76)
4/2020 (-186896.40)
5/2020 (-181513.10)
6/2020 (-178484.73)
7/2020 (-172077.14)
8/2020 (-168229.16)
9/2020 (-164226.67)
10/2020 (-158892.28)
11/2020 (-151654.07)
Making slow progress, will post back in several months
Slow!?! You're progress has been incredible thus far! Your net worth will have increased close to 60K this year, even while fighting a negative interest rate. Keep it up!!
-
Student loans:
1/2020 (-214579.43)
2/2020 (-211582.61)
3/2020 (-207301.61)
4/2020 (-204914.65)
5/2020 (-202513.14)
6/2020 (-200181.89)
7/2020 (-197983.46)
8/2020 (-196029.22)
9/2020 (-194058.61)
10/2020 (-192182.33)
11/2020 (-190229.11)
Net Worth:
1/2020 (-205328.66)
2/2020 (-199646.97)
3/2020 (-191659.76)
4/2020 (-186896.40)
5/2020 (-181513.10)
6/2020 (-178484.73)
7/2020 (-172077.14)
8/2020 (-168229.16)
9/2020 (-164226.67)
10/2020 (-158892.28)
11/2020 (-151654.07)
Making slow progress, will post back in several months
Slow!?! You're progress has been incredible thus far! Your net worth will have increased close to 60K this year, even while fighting a negative interest rate. Keep it up!!
+1. You're killing it @Peaksandvalleys! There are quite a few of us on the forum who started way in the negative, and that climb to zero is tough. Paging @mckaylabaloney, a recent grad of this thread, for her thoughts!
-
You're killing it @Peaksandvalleys! There are quite a few of us on the forum who started way in the negative, and that climb to zero is tough. Paging @mckaylabaloney, a recent grad of this thread, for her thoughts!
Helloooo here I am! @Peaksandvalleys I was in a very similar position a few years ago. I graduated from law school in 2014 with approx. $225k in debt and no assets other than $5k in a Roth IRA. I made almost no progress for the first three years of my career (when I was making a low government salary and not paying a ton of attention to my finances) and then kicked things into gear when I started working for a law firm near the end of 2017 (I was about $198k in the hole at that time). I decided to prioritize maxing out my tax-advantaged retirement accounts over paying extra on my student loans -- which I wavered on many times for the first year or two, since I desperately wanted to be done with my student loans as soon as possible. However, I knew that slowing down my loan payments in favor of tax-advantaged saving would benefit me in the long run, and I am already starting to see the benefits of that. I still have about $115k in student loans, but after just three years of maxing out my tax-advantaged accounts (plus three more years of sub-max contributions to my Roth IRA) I also have $143k+ saved for retirement, and you'll see in my recent post history that even that modest amount -- which does not feel very big, compared to my goals -- is now earning gains of $10k+ in good months. It is wild to see compound interest in action and to know that this is really just the beginning.
All this to say -- I acutely remember being six figures in the hole (not long ago!) and feeling like it would take me an eternity to climb out. Spoiler alert: it didn't! And I was moving at a similar monthly pace for most of that time -- I know $5-7kish per month doesn't feel like much, relative to your goals, but it's so, so much. You're doing great. And in a couple years you'll look back and be amazed at how much progress you've made.
-
You're killing it @Peaksandvalleys! There are quite a few of us on the forum who started way in the negative, and that climb to zero is tough. Paging @mckaylabaloney, a recent grad of this thread, for her thoughts!
Helloooo here I am! @Peaksandvalleys I was in a very similar position a few years ago. I graduated from law school in 2014 with approx. $225k in debt and no assets other than $5k in a Roth IRA. I made almost no progress for the first three years of my career (when I was making a low government salary and not paying a ton of attention to my finances) and then kicked things into gear when I started working for a law firm near the end of 2017 (I was about $198k in the hole at that time). I decided to prioritize maxing out my tax-advantaged retirement accounts over paying extra on my student loans -- which I wavered on many times for the first year or two, since I desperately wanted to be done with my student loans as soon as possible. However, I knew that slowing down my loan payments in favor of tax-advantaged saving would benefit me in the long run, and I am already starting to see the benefits of that. I still have about $115k in student loans, but after just three years of maxing out my tax-advantaged accounts (plus three more years of sub-max contributions to my Roth IRA) I also have $143k+ saved for retirement, and you'll see in my recent post history that even that modest amount -- which does not feel very big, compared to my goals -- is now earning gains of $10k+ in good months. It is wild to see compound interest in action and to know that this is really just the beginning.
All this to say -- I acutely remember being six figures in the hole (not long ago!) and feeling like it would take me an eternity to climb out. Spoiler alert: it didn't! And I was moving at a similar monthly pace for most of that time -- I know $5-7kish per month doesn't feel like much, relative to your goals, but it's so, so much. You're doing great. And in a couple years you'll look back and be amazed at how much progress you've made.
Excellent post, @mckaylabaloney. Personally, I felt like I was in a bottomless pit of debt---15+ years without much progress. It wasn't so much the amount of money (probably less than $20k), it was my MENTALITY. I got serious about paying that off, and simultaneously started investing. Now my wife and I are debt-free with a growing net worth nearing six figures.
I also love what you said about your portfolio able to gain $10k in good month. It was amazing in the last few weeks to see that even a 1% gain in our portfolio is over $500 growth.
This is just the beginning!
-
You're killing it @Peaksandvalleys! There are quite a few of us on the forum who started way in the negative, and that climb to zero is tough. Paging @mckaylabaloney, a recent grad of this thread, for her thoughts!
Helloooo here I am! @Peaksandvalleys I was in a very similar position a few years ago. I graduated from law school in 2014 with approx. $225k in debt and no assets other than $5k in a Roth IRA. I made almost no progress for the first three years of my career (when I was making a low government salary and not paying a ton of attention to my finances) and then kicked things into gear when I started working for a law firm near the end of 2017 (I was about $198k in the hole at that time). I decided to prioritize maxing out my tax-advantaged retirement accounts over paying extra on my student loans -- which I wavered on many times for the first year or two, since I desperately wanted to be done with my student loans as soon as possible. However, I knew that slowing down my loan payments in favor of tax-advantaged saving would benefit me in the long run, and I am already starting to see the benefits of that. I still have about $115k in student loans, but after just three years of maxing out my tax-advantaged accounts (plus three more years of sub-max contributions to my Roth IRA) I also have $143k+ saved for retirement, and you'll see in my recent post history that even that modest amount -- which does not feel very big, compared to my goals -- is now earning gains of $10k+ in good months. It is wild to see compound interest in action and to know that this is really just the beginning.
All this to say -- I acutely remember being six figures in the hole (not long ago!) and feeling like it would take me an eternity to climb out. Spoiler alert: it didn't! And I was moving at a similar monthly pace for most of that time -- I know $5-7kish per month doesn't feel like much, relative to your goals, but it's so, so much. You're doing great. And in a couple years you'll look back and be amazed at how much progress you've made.
Excellent post, @mckaylabaloney. Personally, I felt like I was in a bottomless pit of debt---15+ years without much progress. It wasn't so much the amount of money (probably less than $20k), it was my MENTALITY. I got serious about paying that off, and simultaneously started investing. Now my wife and I are debt-free with a growing net worth nearing six figures.
I also love what you said about your portfolio able to gain $10k in good month. It was amazing in the last few weeks to see that even a 1% gain in our portfolio is over $500 growth.
This is just the beginning!
Thank you all! It is such a positive motivator to read your encouragement and successes. At our stage, it just feels like an insurmountable climb back to zero net worth as we know it will take at least a couple more years.
However, looking back over the past 12 months we are super proud of the progress we've been able to make, finally have momentum going to the right direction. Speaks to the power of a sound financial plan and budget. Shout out to MMM and YNAB.
You all are the best,
-P
-
12/17/19: $21,427.67
01/26/20: $17,755.45
05/06/20: $13,179.59
05/08/20: $9,994.39
06/01/20: $8,018.36
06/29/20: $4,370.98
07/21/2020: $1,499.88
10/23/2020: $8,269.88
11/23/2020: $4,556.60
Had a frugal month so I was about to catch up with some expenses.
12/23/2020: $10,332.95
Another frugal month and Christmas bonus really helped. Food and gifts have all been bought for Christmas and New Years. To save on alcohol expense, I decided to make glintvein since all it takes is cheap wine(Aldi $3) and cheap brandy($6). Everyone loves it since it tastes Christmasi. Unless something happens, I should be onto the $10k+ thread next month.
-
12/17/19: $21,427.67
01/26/20: $17,755.45
05/06/20: $13,179.59
05/08/20: $9,994.39
06/01/20: $8,018.36
06/29/20: $4,370.98
07/21/2020: $1,499.88
10/23/2020: $8,269.88
11/23/2020: $4,556.60
Had a frugal month so I was about to catch up with some expenses.
12/23/2020: $10,332.95
Another frugal month and Christmas bonus really helped. Food and gifts have all been bought for Christmas and New Years. To save on alcohol expense, I decided to make glintvein since all it takes is cheap wine(Aldi $3) and cheap brandy($6). Everyone loves it since it tastes Christmasi. Unless something happens, I should be onto the $10k+ thread next month.
Hey hey @paulkots !! CONGRATS and well done!!
-
Woohoo, @paulkots ! That's awesome!
I feel like this may be the most important race thread on this forum. This is where the magic begins . . .
-
Congratulations, paulkots!
Getting into positive net worth territory is a great milestone! You're building the foundation that will support the rest of your FIRE journey. Good job!
-
So 2020 has been a good year savings wise and I've reached the 10k milestone.
30/12/2020 - €10,909
Hopefully I can keep up this momentum for the long haul. Good luck everyone.
-
So 2020 has been a good year savings wise and I've reached the 10k milestone.
30/12/2020 - €10,909
Hopefully I can keep up this momentum for the long haul. Good luck everyone.
YEAH @IrishFI !! Great job and good luck in the 10-100k thread!!
-
Congratulations, that's a great way to start the new year!
I'm getting back on track and have spent some time over December getting acquainted with the Good Budget app (that I installed about a year ago and promptly ignored after about an hour.) I'm all set up now and will be using that instead of my old spreadsheet to track day-to-day stuff. At some stage during the year I'll need to re-work my old spreadsheet (or create a new one) to keep track of the bigger stuff. For now, I've just gotten paid and have allocated my money to all the different fixed expenses and savings pots and it is immediately clear why I was starting to fall into old credit card/overdraft habits. My discretionary spending really is coming from my sidegig income now and I need to remember that. The small amount I have after fixed expenses and savings is enough for food (on a strict budget) for the month and that's it.
Here's wishing everyone a great year of saving in 2021!
-
December was a decent month, and I ended 2020 almost at my goal! Barring some kind of catastrophe, I'll blow through the $10K goal this month and graduate to the next thread. Seeing stead and constant progress has been truly rewarding and really takes a big piece of stress out of my head.
Month Net Worth
06/30/19 - ($15,856)
07/31/19 - ($15,582)
08/31/19 - ($15,289)
09/30/19 - ($14,461)
10/31/19 - ($12,966)
11/30/19 - ($10,829)
12/31/19 - ($10,285)
01/31/20 - ($9,457)
02/29/20 - ($8,865)
03/31/20 - ($9,040)
04/30/20 - ($6,366)
05/31/20 - ($4,051)
06/30/20 - ($1,545)
07/31/20 - $1,585
08/29/20 - $3,350
09/30/20 - $4,245
10/31/20 - $6,168
11/30/20 - $8,026
12/31/20 - $9,607
-
BoI savings: 5.00
DiBa ETF: 3,149.35
CmzBank savings a/c: 3,500.00
Total: +6,654.35
BoI savings: 7.30
DiBa ETF: 3,379.80
CmzBank savings a/c: 3,600.00
Total: +6,987.10
If all goes well, I may actually be graduating from this thread next year. Depending on the market, it may even be this year. That's kind of wild to me.
-
Just checking in to see how everyone is doing at the end of the quarter? The thread has been too quiet!
-
Hi. Beginner here, thought I’d join in.
Ignoring savings earmarked for the kids, we currently have:
$3,500 EF in savings account
$4,517.85 in Roth IRA
$60.60 in Robinhood
=$8,078.45 total
-
Hi. Beginner here, thought I’d join in.
Ignoring savings earmarked for the kids, we currently have:
$3,500 EF in savings account
$4,517.85 in Roth IRA
$60.60 in Robinhood
=$8,078.45 total
Welcome aboard! :)
-
It’s been a couple of years since I posted on this thread
Progress from March 2019 - May 2021 on gross income of £43k
Savings: was £260 now £9549.59 (counting my pension contributions but not my employer's contributions)
Consumer debt: was £25585 now £3225
Big picture -
Mar 2019 -£25325/£10000
May 2021 £6324.59/£10000
-
@keepingfocus wow this is awesome. You're killing that debt!
-
It’s been a couple of years since I posted on this thread
Progress from March 2019 - May 2021 on gross income of £43k
Savings: was £260 now £9549.59 (counting my pension contributions but not my employer's contributions)
Consumer debt: was £25585 now £3225
Big picture -
Mar 2019 -£25325/£10000
May 2021 £6324.59/£10000
That's impressive progress!
-
IRA plus emergency fund cash savings at $9,469.65 this month. $0 debt other than the mortgage. I’ll be graduating soon.
-
Student loans:
1/2020 (-214579.43)
2/2020 (-211582.61)
3/2020 (-207301.61)
4/2020 (-204914.65)
5/2020 (-202513.14)
6/2020 (-200181.89)
7/2020 (-197983.46)
8/2020 (-196029.22)
9/2020 (-194058.61)
10/2020 (-192182.33)
11/2020 (-190229.11)
12/2020 (-188280.86)
1/2021 (-186316.39)
2/2021 (-184335.96)
3/2021 (-182503.83)
4/2021 (-180488.24)
5/2021 (-178419.49)
6/2021 (-176387.79)
7/2021 (-174309.01)
Net Worth:
1/2020 (-205328.66)
2/2020 (-199646.97)
3/2020 (-191659.76)
4/2020 (-186896.40)
5/2020 (-181513.10)
6/2020 (-178484.73)
7/2020 (-172077.14)
8/2020 (-168229.16)
9/2020 (-164226.67)
10/2020 (-158892.28)
11/2020 (-151654.07)
12/2021 (-144569.29)
1/2021 (-140273.58)
2/2021 (-133689.99)
3/2021 (-124848.32)
4/2021 (-121774.36)
5/2021 (-115503.27)
6/2021 (-110181.56)
7/2021 (-105114.81)
Just keep swimming, still deeply negative but almost halfway to 0.
-
Student loans:
1/2020 (-214579.43)
2/2020 (-211582.61)
3/2020 (-207301.61)
4/2020 (-204914.65)
5/2020 (-202513.14)
6/2020 (-200181.89)
7/2020 (-197983.46)
8/2020 (-196029.22)
9/2020 (-194058.61)
10/2020 (-192182.33)
11/2020 (-190229.11)
12/2020 (-188280.86)
1/2021 (-186316.39)
2/2021 (-184335.96)
3/2021 (-182503.83)
4/2021 (-180488.24)
5/2021 (-178419.49)
6/2021 (-176387.79)
7/2021 (-174309.01)
Net Worth:
1/2020 (-205328.66)
2/2020 (-199646.97)
3/2020 (-191659.76)
4/2020 (-186896.40)
5/2020 (-181513.10)
6/2020 (-178484.73)
7/2020 (-172077.14)
8/2020 (-168229.16)
9/2020 (-164226.67)
10/2020 (-158892.28)
11/2020 (-151654.07)
12/2021 (-144569.29)
1/2021 (-140273.58)
2/2021 (-133689.99)
3/2021 (-124848.32)
4/2021 (-121774.36)
5/2021 (-115503.27)
6/2021 (-110181.56)
7/2021 (-105114.81)
Just keep swimming, still deeply negative but almost halfway to 0.
Wow @Peaksandvalleys $100k improvement in NW in a year a half. Incredible!
-
$3,500 EF in savings account
$7,517.95 in Roth IRA
$94.48 in Robinhood
=$11,112.43 total
Time for the next thread?
-
Yeah!!! Congrats @la Condessa !!
Hop on over to that next thread.
-
Congratulations! I love to see progress on this thread. Go, go, go!
-
Progress from March 2019 - September 2021 on gross income of £43k
Counting my pension contributions but not my employer's contributions
Consumer debt: was £25585 now £3225 0
Big picture -
Mar 2019: -£25325/£10000
May 2021: £6324.59/£10000
Sept 2021: £12051/£10000
Whoop, I sneaked across the line without noticing! :D
-
Progress from March 2019 - September 2021 on gross income of £43k
Counting my pension contributions but not my employer's contributions
Consumer debt: was £25585 now £3225 0
Big picture -
Mar 2019: -£25325/£10000
May 2021: £6324.59/£10000
Sept 2021: £12051/£10000
Whoop, I sneaked across the line without noticing! :D
A. Congratulations!
B. Those employer contributions definitely should be counted (if they've already vested)!
-
A. Congratulations!
B. Those employer contributions definitely should be counted (if they've already vested)!
Thank you! For the purposes of this thread I decided to only count what I've contributed myself.
-
Progress from March 2019 - September 2021 on gross income of £43k
Counting my pension contributions but not my employer's contributions
Consumer debt: was £25585 now £3225 0
Big picture -
Mar 2019: -£25325/£10000
May 2021: £6324.59/£10000
Sept 2021: £12051/£10000
Whoop, I sneaked across the line without noticing! :D
Good for you!
-
Congrats @keepingfocus ! Especially on getting rid of 25k of consumer debt!! I'm sure that's been a life-changing experience.
@Moonwaves how are you doing??
-
@Imma I have totallly lost the plot when it comes to money and am trying to rein things in again.
In positive-ish news, I did finally set up online access to my German "Riesterrente" account, so I can check how that's doing at any time now. And I finally got in touch with my accountant and sent him everything he needs to do my 2019 tax return, which is horribly overdue. Here's hoping the threat of an up to €25,000 fine in that letter from the tax office was just bureaucratic hyberbole. But the whole situation is sort of indicative of how money things have been going in general really. I'm working on it. And at least looking for the 2019 documents means I also found most of the 2020 documents, so that will be done very soon, too.
I did have a really lovely two weeks in Ireland, though with lots of badly-needed reconnecting with family and friends.
-
Hey! Super new to all of this but I'm sitting at $6,400 saved as of yesterday. Gotta have $10,000 before you have $1,000,000. Let's go.
-
Hey! Super new to all of this but I'm sitting at $6,400 saved as of yesterday. Gotta have $10,000 before you have $1,000,000. Let's go.
Welcome aboard @LobsterLuke! You got that right buddy.
There's a ton of good information in the forum. Have you already checked out the "Shockingly Simple Math" post, and the JL Collins Stock Series? Those are great places to start.
https://www.mrmoneymustache.com/2012/01/13/the-shockingly-simple-math-behind-early-retirement/
https://jlcollinsnh.com/stock-series/
-
Hey! Super new to all of this but I'm sitting at $6,400 saved as of yesterday. Gotta have $10,000 before you have $1,000,000. Let's go.
Welcome aboard @LobsterLuke! You got that right buddy.
There's a ton of good information in the forum. Have you already checked out the "Shockingly Simple Math" post, and the JL Collins Stock Series? Those are great places to start.
https://www.mrmoneymustache.com/2012/01/13/the-shockingly-simple-math-behind-early-retirement/
https://jlcollinsnh.com/stock-series/
Thank you for these recommendations! Looking forward to checking out JL Collins now.
-
@Imma I have totallly lost the plot when it comes to money and am trying to rein things in again.
In positive-ish news, I did finally set up online access to my German "Riesterrente" account, so I can check how that's doing at any time now. And I finally got in touch with my accountant and sent him everything he needs to do my 2019 tax return, which is horribly overdue. Here's hoping the threat of an up to €25,000 fine in that letter from the tax office was just bureaucratic hyberbole. But the whole situation is sort of indicative of how money things have been going in general really. I'm working on it. And at least looking for the 2019 documents means I also found most of the 2020 documents, so that will be done very soon, too.
I did have a really lovely two weeks in Ireland, though with lots of badly-needed reconnecting with family and friends.
Having said all that, the market tipped me over into the next "thousand" in investments today. So, my ETF account is currently worth €5,011.62. Recording here for posterity.
-
Just wanted to come in here and celebrate today's win: $7,000 in savings! I've been putting away $600-$700 per month and I'm super excited to hit this little milestone. I feel like I'm building a shield between me and chaos.
-
Just wanted to come in here and celebrate today's win: $7,000 in savings! I've been putting away $600-$700 per month and I'm super excited to hit this little milestone. I feel like I'm building a shield between me and chaos.
You have a sturdy shield, soon you will have a fortress!
-
I am only going to include my robinhood and credit card round up account to see how long it takes to grow these to the 10,000+. Robinhood is funded by drips and drabs as there is "extra money" available each week.
As of:
11/24/21 Round up 432.20 Robinhood 1648.09 Total 2080.29
-
Payday for Job #1 today! $7300 of $10,000 saved. Feels like more of a baby step than a jump, but I'll be pretty stoked when I get to $8,000.
-
A quick update
As of:
11/24/21 Round up 432.20 Investment 1648.09 Total 2080.29
12/22/21 Round Up 533.08 Investment 7604.07 Total 8137.15
The big jump this month was a one time unexpected windfall of 5K that I just dumped into our investment account
-
A quick update
As of:
11/24/21 Round up 432.20 Investment 1648.09 Total 2080.29
12/22/21 Round Up 533.08 Investment 7604.07 Total 8137.15
The big jump this month was a one time unexpected windfall of 5K that I just dumped into our investment account
Sweet! That's the mustachian way to do it!
-
A quick update
As of:
11/24/21 Round up 432.20 Investment 1648.09 Total 2080.29
12/22/21 Round Up 533.08 Investment 7604.07 Total 8137.15
01/26/22 Round Up 642.33 Investment 9911.44 Total 10553.77
Looks like I am heading up to the next level now!
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Congratulations!
-
Congratulations @comicguy, that's great!
I have gone backwards and then a bit further backwards and have been struggling to get things under control again. Some medical expenses that I likely won't be reimbursed for, some tax stuff that has to be sorted out but I paid some of to at least stop interest and penalties while it is being sorted. Ongoing delays with one side-gig client - I do get paid in full, it's just taking ages to get things through the system. And a whole lot of just careless spending. Just like in the old days, although not quite as bad.
After all that things currently stand at not quite net worth above zero, which is somewhat dispiriting. I'm back to basics, no-spend days and all.
Loan: 7,636.33
BoI savings: 5.00
DiBa ETF: 5,211.70
CmzBank savings a/c: 1,200.00
Total: -1,219.63
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Congratulations @comicguy !! Well done. Time to hop on over to the next thread.
Good job to get back to basics @Moonwaves. That's what will get you there!
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Congratulations @comicguy, that's great!
I have gone backwards and then a bit further backwards and have been struggling to get things under control again. Some medical expenses that I likely won't be reimbursed for, some tax stuff that has to be sorted out but I paid some of to at least stop interest and penalties while it is being sorted. Ongoing delays with one side-gig client - I do get paid in full, it's just taking ages to get things through the system. And a whole lot of just careless spending. Just like in the old days, although not quite as bad.
After all that things currently stand at not quite net worth above zero, which is somewhat dispiriting. I'm back to basics, no-spend days and all.
Loan: 7,636.33
BoI savings: 5.00
DiBa ETF: 5,211.70
CmzBank savings a/c: 1,200.00
Total: -1,219.63
The fact you're still posting in this thread speaks volumes about your character. You have the knowledge to reach FIRE. You're holding yourself accountable.
As you said, get back to the basics. Try and remain disciplined. You'll be onto the race to 100k before you know it.
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Congratulations @comicguy, that's great!
I have gone backwards and then a bit further backwards and have been struggling to get things under control again. Some medical expenses that I likely won't be reimbursed for, some tax stuff that has to be sorted out but I paid some of to at least stop interest and penalties while it is being sorted. Ongoing delays with one side-gig client - I do get paid in full, it's just taking ages to get things through the system. And a whole lot of just careless spending. Just like in the old days, although not quite as bad.
After all that things currently stand at not quite net worth above zero, which is somewhat dispiriting. I'm back to basics, no-spend days and all.
Loan: 7,636.33
BoI savings: 5.00
DiBa ETF: 5,211.70
CmzBank savings a/c: 1,200.00
Total: -1,219.63
I remember you writing about struggling a few months back, and it seems you're still in that situation. I'm so sorry to hear that, but @Manchester is right. You being aware of what's going on is going to make all the difference. And it's good to see you still have savings, even though your net worth is just a little bit in the red.
I've also dealt with a lot of medical expenses in the past and (I'm not sure if this applies to you or not) when I'm struggling with health issues I often spend more on things that will make my life a bit easier.
Hopefully your client will pay you soon and the tax stuff will be sorted.
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Payday for Job #1 today! $7300 of $10,000 saved. Feels like more of a baby step than a jump, but I'll be pretty stoked when I get to $8,000.
Been really aggressive with cutting costs and earning more, so I'm sitting at $7850 saved as of today!!! $10,000 here we come!
(I'd actually have $1500 more saved, but in January I paid for my last semester of college tuition - one senior capstone course - and will graduate debt free) Moving back in with your parents at 27 feels pretty lame, but I've managed to get completely out of debt and build this little 'stache for myself, so I'm super grateful for that. Looking forward to getting back out on my own at graduation, without any debt. 30-year-old me will be so grateful for this, haha.
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Been really aggressive with cutting costs and earning more, so I'm sitting at $7850 saved as of today!!! $10,000 here we come!
(I'd actually have $1500 more saved, but in January I paid for my last semester of college tuition - one senior capstone course - and will graduate debt free) Moving back in with your parents at 27 feels pretty lame, but I've managed to get completely out of debt and build this little 'stache for myself, so I'm super grateful for that. Looking forward to getting back out on my own at graduation, without any debt. 30-year-old me will be so grateful for this, haha.
Well done @LobsterLuke! That is huge. So smart. Your 40 and 50 and 60 year old self will also thank you!!
Are you sticking around in your hometown, or looking for jobs elsewhere?
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Been really aggressive with cutting costs and earning more, so I'm sitting at $7850 saved as of today!!! $10,000 here we come!
(I'd actually have $1500 more saved, but in January I paid for my last semester of college tuition - one senior capstone course - and will graduate debt free) Moving back in with your parents at 27 feels pretty lame, but I've managed to get completely out of debt and build this little 'stache for myself, so I'm super grateful for that. Looking forward to getting back out on my own at graduation, without any debt. 30-year-old me will be so grateful for this, haha.
Well done @LobsterLuke! That is huge. So smart. Your 40 and 50 and 60 year old self will also thank you!!
Are you sticking around in your hometown, or looking for jobs elsewhere?
Thank you! And that's a good question; I'm probably going to stay here in Dallas-Fort Worth. What an amazing job market to graduate into.
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$8200 saved, sooo close, almost there! This is the highest my net worth has ever been!
Sent from my SM-G965U using Tapatalk
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Soooo…brand new here. Am I in the right place starting with a negative nw?
As of February 2022, -104,375. Bulk of debt is student loans and mortgage, bulk of assets are 401k and some home equity.
Lots (and lots and lots) of work to do.
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Soooo…brand new here. Am I in the right place starting with a negative nw?
As of February 2022, -104,375. Bulk of debt is student loans and mortgage, bulk of assets are 401k and some home equity.
Lots (and lots and lots) of work to do.
Welcome to the forum @BiscuitsandGuy -- yes you've landed in a good place. Lots of us started far in the negative. You're on your way, just keep on keeping on.
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Welcome to the newbies! I'm excited to watch your progress. Yes, you're in the right place @BiscuitsandGuy. @Trifele is exactly right: plenty of people in this thread, and graduates from this thread, started six figures in the negative. You can check my post history for an example :) One day at a time!
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Soooo…brand new here. Am I in the right place starting with a negative nw?
As of February 2022, -104,375. Bulk of debt is student loans and mortgage, bulk of assets are 401k and some home equity.
Lots (and lots and lots) of work to do.
Welcome aboard! I'm super excited to watch your journey to $10k. You'll be there in no time.
Sent from my SM-G965U using Tapatalk
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$8200 saved, sooo close, almost there! This is the highest my net worth has ever been!
Sent from my SM-G965U using Tapatalk
$8700 saved! This is super motivating because every dollar I add to my 'stache is another personal record for the highest net worth I've ever had :D I think I can hit $10k in March if things go to plan.
-
Congrats @LobsterLuke —amazing!!
-
Thank you!
With the these past few weeks of saving and the arrival of my tax return, I've reached $12,100 saved :)
I really appreciate the encouragement I've received from this thread and will see y'all in the race to 100K thread!
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Thank you!
With the these past few weeks of saving and the arrival of my tax return, I've reached $12,100 saved :)
I really appreciate the encouragement I've received from this thread and will see y'all in the race to 100K thread!
Well done! Congratulations and enjoy the next race!
Congratulations @comicguy, that's great!
I have gone backwards and then a bit further backwards and have been struggling to get things under control again. Some medical expenses that I likely won't be reimbursed for, some tax stuff that has to be sorted out but I paid some of to at least stop interest and penalties while it is being sorted. Ongoing delays with one side-gig client - I do get paid in full, it's just taking ages to get things through the system. And a whole lot of just careless spending. Just like in the old days, although not quite as bad.
After all that things currently stand at not quite net worth above zero, which is somewhat dispiriting. I'm back to basics, no-spend days and all.
Loan: 7,636.33
BoI savings: 5.00
DiBa ETF: 5,211.70
CmzBank savings a/c: 1,200.00
Total: -1,219.63
Some progress.
Loan: -7,491.28
BoI savings: 31.00
DiBa ETF: 5,301.80
CmzBank savings a/c: 1,300.06
Total: -858.42
-
Thank you!
With the these past few weeks of saving and the arrival of my tax return, I've reached $12,100 saved :)
I really appreciate the encouragement I've received from this thread and will see y'all in the race to 100K thread!
Well done! Congratulations and enjoy the next race!
Congratulations @comicguy, that's great!
I have gone backwards and then a bit further backwards and have been struggling to get things under control again. Some medical expenses that I likely won't be reimbursed for, some tax stuff that has to be sorted out but I paid some of to at least stop interest and penalties while it is being sorted. Ongoing delays with one side-gig client - I do get paid in full, it's just taking ages to get things through the system. And a whole lot of just careless spending. Just like in the old days, although not quite as bad.
After all that things currently stand at not quite net worth above zero, which is somewhat dispiriting. I'm back to basics, no-spend days and all.
Loan: 7,636.33
BoI savings: 5.00
DiBa ETF: 5,211.70
CmzBank savings a/c: 1,200.00
Total: -1,219.63
Some progress.
Loan: -7,491.28
BoI savings: 31.00
DiBa ETF: 5,301.80
CmzBank savings a/c: 1,300.06
Total: -858.42
Well done!! Not "some" progress. That's a significant increase in net worth, like 30%! And both your savings account and your investment account are up, it's not just loan payments.
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Well done!! Not "some" progress. That's a significant increase in net worth, like 30%! And both your savings account and your investment account are up, it's not just loan payments.
This is true. No matter what, I am still ploughing money into savings and investments every month. Those €50 payments do add up eventually.
My other bit of progress, which I forgot to mention, is that I've started filling my cash envelopes. This was helped by getting cash back from a friend that I had paid something for, which gave me a bit of a head start. Even if one or two of those envelopes only have a couple of coins in them, it's a start. February didn't quite go according to plan but I'm not feeling discouraged at the moment at all. Being stuck at home with the dreaded 'rona is certainly a help when it comes to avoiding spending.
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Congrats @LobsterLuke!
@Moonwaves you're getting so close to that sweet sweet milestone of being worthless :) Hope you're feeling better.
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I think I want to join in, but what do we mean by $10k here? Saving? Net worth? Retirement savings? Depending on how we define things, I may or may not belong here.
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I think I want to join in, but what do we mean by $10k here? Saving? Net worth? Retirement savings? Depending on how we define things, I may or may not belong here.
The joy of these threads is that you get to define your own, er, definition. :-D
For me, it's cash and investment savings but the cash doesn't include my current account for monthly outgoings or the account I use to save for annual expenses/sinking funds. Cash is a savings account that I have my emergency fund in.
If I ever make it properly into the 10k to 100k thread, you'd better believe I'll start including my pension accounts in my total. LOL
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I think I want to join in, but what do we mean by $10k here? Saving? Net worth? Retirement savings? Depending on how we define things, I may or may not belong here.
I used this thread to to track progress getting my N/W to £10k.
If you want to do savings, N/W, retirement savings or whatever, go for it... It's not that strict - just a good way to keep you motivated no matter your goal.
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I think I want to join in, but what do we mean by $10k here? Saving? Net worth? Retirement savings? Depending on how we define things, I may or may not belong here.
The joy of these threads is that you get to define your own, er, definition. :-D
For me, it's cash and investment savings but the cash doesn't include my current account for monthly outgoings or the account I use to save for annual expenses/sinking funds. Cash is a savings account that I have my emergency fund in.
If I ever make it properly into the 10k to 100k thread, you'd better believe I'll start including my pension accounts in my total. LOL
How are you getting on nowadays @Moonwaves - you haven't posted progress recently. I hope you're moving in the right direction?
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How are you getting on nowadays @Moonwaves - you haven't posted progress recently. I hope you're moving in the right direction?
I was for a while and then the wheels came off again. Struggling to get back on course but doing my best. Having a bit of a depressive episode at the moment, which it took me a couple of months to recognise. It's very annoying how no matter how well-acquainted I am with the whole thing, it can still creep up on me by surprise. I've been trying to pick up some of my CBT tools in the last couple of weeks to help and I will get there eventually.
Thanks for asking.
Edited to add: In what feels like something that may be ironic (that song (https://www.youtube.com/watch?v=nT1TVSTkAXg) messed up my head so now I can never remember if I'm using that word correctly or not) to have to admit in this particular corner of the internet, I've realised that a pretty sure sign that I'm stuck in a depression is when I start thinking about all the things I would do if I ever won the lottery. I mean, I rarely play it anymore, perhaps a couple of line once or twice a year. But if I ever do, I have lots of plans ready and waiting, so I suppose it's not all bad. :-) And of course, when I do manage to recover, it gives me lots of food for thought in trying to figure out what was the thing I was trying to get with those plans, and whether or how I can get the same thing without actually having to spend a bunch of lottery winnings.
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How are you getting on nowadays @Moonwaves - you haven't posted progress recently. I hope you're moving in the right direction?
I was for a while and then the wheels came off again. Struggling to get back on course but doing my best. Having a bit of a depressive episode at the moment, which it took me a couple of months to recognise. It's very annoying how no matter how well-acquainted I am with the whole thing, it can still creep up on me by surprise. I've been trying to pick up some of my CBT tools in the last couple of weeks to help and I will get there eventually.
Thanks for asking.
Edited to add: In what feels like something that may be ironic (that song (https://www.youtube.com/watch?v=nT1TVSTkAXg) messed up my head so now I can never remember if I'm using that word correctly or not) to have to admit in this particular corner of the internet, I've realised that a pretty sure sign that I'm stuck in a depression is when I start thinking about all the things I would do if I ever won the lottery. I mean, I rarely play it anymore, perhaps a couple of line once or twice a year. But if I ever do, I have lots of plans ready and waiting, so I suppose it's not all bad. :-) And of course, when I do manage to recover, it gives me lots of food for thought in trying to figure out what was the thing I was trying to get with those plans, and whether or how I can get the same thing without actually having to spend a bunch of lottery winnings.
That's a really interesting second paragraph.
What do you imagine doing if you won the lottery? Sometimes it's good to look at those dreams and break down why they appeal to you. It might be traveling the world or buying a luxury mansion. Then ask WHY you want that.
I think you'll gain a lot of satisfaction working towards these dreams without having all that money. But it's human nature to make excuses and put hurdles (like infinite sources of money) in our way before we try and attain those dreams.
Be realistic about it, but what would your perfect life look like today? Why can't you work towards that?
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How are you getting on nowadays @Moonwaves - you haven't posted progress recently. I hope you're moving in the right direction?
I was for a while and then the wheels came off again. Struggling to get back on course but doing my best. Having a bit of a depressive episode at the moment, which it took me a couple of months to recognise. It's very annoying how no matter how well-acquainted I am with the whole thing, it can still creep up on me by surprise. I've been trying to pick up some of my CBT tools in the last couple of weeks to help and I will get there eventually.
Thanks for asking.
Edited to add: In what feels like something that may be ironic (that song (https://www.youtube.com/watch?v=nT1TVSTkAXg) messed up my head so now I can never remember if I'm using that word correctly or not) to have to admit in this particular corner of the internet, I've realised that a pretty sure sign that I'm stuck in a depression is when I start thinking about all the things I would do if I ever won the lottery. I mean, I rarely play it anymore, perhaps a couple of line once or twice a year. But if I ever do, I have lots of plans ready and waiting, so I suppose it's not all bad. :-) And of course, when I do manage to recover, it gives me lots of food for thought in trying to figure out what was the thing I was trying to get with those plans, and whether or how I can get the same thing without actually having to spend a bunch of lottery winnings.
That's a really interesting second paragraph.
What do you imagine doing if you won the lottery? Sometimes it's good to look at those dreams and break down why they appeal to you. It might be traveling the world or buying a luxury mansion. Then ask WHY you want that.
I think you'll gain a lot of satisfaction working towards these dreams without having all that money. But it's human nature to make excuses and put hurdles (like infinite sources of money) in our way before we try and attain those dreams.
Be realistic about it, but what would your perfect life look like today? Why can't you work towards that?
That's what I was getting at with my last sentence. Today my perfect life would look like one where I didn't have to use up all of my energy just to go through the motions of getting up, clean, dressed and to work. This phase will pass, and I am actively (to the extent possible) working on getting better. When the depression has lifted somewhat, then the dreams/fantasies do give me lots of food for thought on what it is I want to have in my life and how to get it now, without the millions of a big lottery win. But for now, I'm more in survival mode than anything else.
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Okay, I have decided that I belong in this thread. Aiming for $10,000 between savings and investments, minus debts. Can I make it by year-end??
Debt: ($6,539) (HELOC @ 5.25%)
Emergency Fund: $7,000
401(k): $7,156
----
Total: $7,617.
I will be losing the ability to contribute to the 401(k) for the next year as I'm changing jobs, which sucks, but I will focus on accumulating in a Roth IRA after I've paid off the HELOC and funded a new HSA.
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10/2/18 - $(2742.60)
10/29/18 - $(1899.81)
11/25/18 - $(1660.04)
12/31/18 - $245
3/14/19 - $(5,212)
3/31/19 - $(882.10)
4/25/19 - $(16,545.33)
5/29/19 - $(14,275.68)
6/28/19 - $(13,578)
7/26/19 - $(12,692)
8/23/19 - $(11,219)
10/4/19 - $(12,227.77)
11/30/19 - $(15,648)
12/27/19 - $(12,288)
1/27/20 - $(17,036)
4/17/20- $(14,394.54)
11/8/22 - $(3116.05)
Looking at my old finances here put some things in perspective for me. At long last, I am back again. A ton has changed in the past two years, but my net worth (not including my mortgage) still isn't positive. Time to change that! Hoping to get positive very soon, as my student loans will be gone with the debt relief, and I'll actually get refunded almost $4k. Hoping to only have a short stint here (though technically it's been 4 years), and get on track for the $10k-$100k thread!
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10/2/18 - $(2742.60)
10/29/18 - $(1899.81)
11/25/18 - $(1660.04)
12/31/18 - $245
3/14/19 - $(5,212)
3/31/19 - $(882.10)
4/25/19 - $(16,545.33)
5/29/19 - $(14,275.68)
6/28/19 - $(13,578)
7/26/19 - $(12,692)
8/23/19 - $(11,219)
10/4/19 - $(12,227.77)
11/30/19 - $(15,648)
12/27/19 - $(12,288)
1/27/20 - $(17,036)
4/17/20- $(14,394.54)
11/8/22 - $(3116.05)
11/24/22 - $(63.66)
proud of this number. got slammed with expenses this month but at the end of the day still had money to save (though this is a bit skewed, because my last number didn't include a savings account i forgot to include).
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Way to go @cazio! You're really close to crossing that zero, and then continuing on. Go go go!
A belated shoutout to @sadiesortsitout -- how close are you? Way to set goals and chug toward them. You can do it!
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I'll join in here. I'm at 4000 dollars currently.
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I'll join in here. I'm at 4000 dollars currently.
Welcome @violets! Good job to set a goal. Once you get the snowball (cash ball) growing, it will get easier and faster.
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You can do it @violets!
I remember very clearly reaching 10K and the weight of my shoulders it was. I hadn't been racing specifically to 10K, and yet it was really a psychological marker for enough safety for my lizard brain.
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August 25 2022 November 28 2022
Debt: ($6,539) (HELOC @ 5.25%) ($6,980)
Emergency Fund: $7,000 $8,874
401(k): $7,156 $8,422
----
Total: $7,617. ---> $10,316
This is a pleasant surprise! I didn't think I was making much progress-- really had hoped to do more this year. But I made my $10,000 goal!
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Way to go @sadiesortsitout ! Congratulations!
(https://media1.giphy.com/media/peAFQfg7Ol6IE/200.webp?cid=ecf05e47dtfsdq7eneu5ktaf6ox3g4uyf5vlqmowbfurukqz&rid=200.webp&ct=g)
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You can do it @violets!
I remember very clearly reaching 10K and the weight of my shoulders it was. I hadn't been racing specifically to 10K, and yet it was really a psychological marker for enough safety for my lizard brain.
SAME.
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10/2/18 - $(2742.60)
10/29/18 - $(1899.81)
11/25/18 - $(1660.04)
12/31/18 - $245
3/14/19 - $(5,212)
3/31/19 - $(882.10)
4/25/19 - $(16,545.33)
5/29/19 - $(14,275.68)
6/28/19 - $(13,578)
7/26/19 - $(12,692)
8/23/19 - $(11,219)
10/4/19 - $(12,227.77)
11/30/19 - $(15,648)
12/27/19 - $(12,288)
1/27/20 - $(17,036)
4/17/20- $(14,394.54)
11/8/22 - $(3116.05)
11/24/22 - $(63.66)
12/26/22 - $3896.62
starting off 2023 with a bang! january is already shaping up to be full of expenses, but I hope to tuck as much as i can away. trying to tell myself it's okay to invest in my health (aka dental work, eye exams etc) - saving isn't worth much when your health suffers because of it.
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starting off 2023 with a bang!
AwwwYeah!!! Way to go @cazio!
(https://media4.giphy.com/media/3oz8xRF0v9WMAUVLNK/200w.webp?cid=ecf05e47zwt3t77nyi6c1kiojwayc5fdp7qa9lnf20ytjrdl&rid=200w.webp&ct=g)
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Student loans:
1/2020 (-214579.43)
4/2020 (-204914.65)
7/2020 (-197983.46)
10/2020 (-192182.33)
1/2021 (-186316.39)
4/2021 (-180488.24)
7/2021 (-174309.01)
10/2021 (-167993.57)
1/2022 (-161651.31)
4/2022 (-155314.82)
7/2022 (-150033.87)
10/2022 (-144902.42)
1/2023 (-118776.32)
Net Worth:
1/2020 (-205328.66)
4/2020 (-186896.40)
7/2020 (-172077.14)
10/2020 (-158892.28)
1/2021 (-140273.58)
4/2021 (-121774.36)
7/2021 (-105114.81)
10/2021 (-88506.7)
1/2022 (-66839.97)
4/2022 (-47918.61)
7/2022 (-36039.37)
10/2022 (-7021.21)
1/2023 7590.37
Positive for the first time in memory
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Positive for the first time in memory
HOORAY!!!! That's an incredible milestone!
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Whoa! You rock @Peaksandvalleys!! You're almost there. We'll have a graduation gif waiting for you. :)
-
Student loans:
1/2020 (-214579.43)
4/2020 (-204914.65)
7/2020 (-197983.46)
10/2020 (-192182.33)
1/2021 (-186316.39)
4/2021 (-180488.24)
7/2021 (-174309.01)
10/2021 (-167993.57)
1/2022 (-161651.31)
4/2022 (-155314.82)
7/2022 (-150033.87)
10/2022 (-144902.42)
1/2023 (-118776.32)
Net Worth:
1/2020 (-205328.66)
4/2020 (-186896.40)
7/2020 (-172077.14)
10/2020 (-158892.28)
1/2021 (-140273.58)
4/2021 (-121774.36)
7/2021 (-105114.81)
10/2021 (-88506.7)
1/2022 (-66839.97)
4/2022 (-47918.61)
7/2022 (-36039.37)
10/2022 (-7021.21)
1/2023 7590.37
Positive for the first time in memory
CONGRATULATIONS!
Isn't it a great feeling to finally not be worth less than nothing? It's truly a milestone to celebrate!
-
10/2/18 - $(2742.60)
10/29/18 - $(1899.81)
11/25/18 - $(1660.04)
12/31/18 - $245
3/14/19 - $(5,212)
3/31/19 - $(882.10)
4/25/19 - $(16,545.33)
5/29/19 - $(14,275.68)
6/28/19 - $(13,578)
7/26/19 - $(12,692)
8/23/19 - $(11,219)
10/4/19 - $(12,227.77)
11/30/19 - $(15,648)
12/27/19 - $(12,288)
1/27/20 - $(17,036)
4/17/20- $(14,394.54)
11/8/22 - $(3116.05)
11/24/22 - $(63.66)
12/26/22 - $3896.62
1/31/23 - $4460.80
somewhat surprised o see any growth this month, but i think that's just because i didn't have any money leftover to put in my EF, which makes it feel like i did nothing. can't wait for those student loans to be forgiven, and hopefully i'll get a tax return that will help get me to 10k by march!
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Great job @cazio! You crossed the zero and now you're almost to the finish line.
Looks like multiple potential graduations in the next few months!
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Student loans:
1/2020 (-214579.43)
4/2020 (-204914.65)
7/2020 (-197983.46)
10/2020 (-192182.33)
1/2021 (-186316.39)
4/2021 (-180488.24)
7/2021 (-174309.01)
10/2021 (-167993.57)
1/2022 (-161651.31)
4/2022 (-155314.82)
7/2022 (-150033.87)
10/2022 (-144902.42)
1/2023 (-118776.32)
Net Worth:
1/2020 (-205328.66)
4/2020 (-186896.40)
7/2020 (-172077.14)
10/2020 (-158892.28)
1/2021 (-140273.58)
4/2021 (-121774.36)
7/2021 (-105114.81)
10/2021 (-88506.7)
1/2022 (-66839.97)
4/2022 (-47918.61)
7/2022 (-36039.37)
10/2022 (-7021.21)
1/2023 7590.37
Positive for the first time in memory
Way to go @Peaksandvalleys !
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10/2/18 - $(2742.60)
10/29/18 - $(1899.81)
11/25/18 - $(1660.04)
12/31/18 - $245
3/14/19 - $(5,212)
3/31/19 - $(882.10)
4/25/19 - $(16,545.33)
5/29/19 - $(14,275.68)
6/28/19 - $(13,578)
7/26/19 - $(12,692)
8/23/19 - $(11,219)
10/4/19 - $(12,227.77)
11/30/19 - $(15,648)
12/27/19 - $(12,288)
1/27/20 - $(17,036)
4/17/20- $(14,394.54)
11/8/22 - $(3116.05)
11/24/22 - $(63.66)
12/26/22 - $3896.62
1/31/23 - $4460.80
2/24/23 - $6014
This month barely felt like an improvement, but I booked a trip and bought some tickets to an event that took some of the steam out of my momentum. But March will be an extra paycheck month so hopefully I get to add another big chunk of money to my EF.
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I always saw those "$X to $Y" threads and was looking forward to crossing $10k so I could participate and just discovered this thread! I have almost 50k in student loans, mostly below 5% interest, no other debt.
3/11/2023: $(7,653)
Net 0 doesn't feel too far away.
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Net zero isn't far away @Log. Go, go, go!
Keep going @cazio -- feed that EF!
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Loan: -7,491.28
BoI savings: 31.00
DiBa ETF: 5,301.80
CmzBank savings a/c: 1,300.06
Total: -858.42
Loan: -18,978.78
BoI savings: 15.00
DiBa ETF: 7,333.96
CmzBank savings a/c: 3,025
Total: -8,604.82
Was writing a big long bit about why all this is but essentially life has just been a bit shit for the past year or so and I have not been dealing very well with it. So, this is where things now stand. Astonishingly, I have actually just passed the 10k mark in savings. Unfortunately, the increased loan means that my net worth is even less than the last time I posted.
Things have kind of come to a head now and I am now in the process of applying for a stint in a clinic to try and get back to being fully functional - my therapist assures me I have given her plenty of scope to write a good justification for why they should pay for it. :-D So, even more just in survival mode than before. I do have an appointment with a company that offers support with household tasks, not just cleaning but also general organisation and help. I'll have to pay for that myself but hopefully it will at least help me to not fall behind much more than I already have. Anyway, even just the thought of getting more help soon has helped me enough to be actually look at the numbers and come back and post here again.
So, how is everyone else getting on? Or have you all graduated to the next thread?
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I always saw those "$X to $Y" threads and was looking forward to crossing $10k so I could participate and just discovered this thread! I have almost 50k in student loans, mostly below 5% interest, no other debt.
3/11/2023: $(7,653)
Net 0 doesn't feel too far away.
This isn't the "Defeat the Net Debt" thread. It doesn't matter if you have debt waiting to be demolished over time, it matters that you get to $10k in your own investment accounts. Money that will snowball toward FIRE. You absolutely should celebrate this milestone! The exception would be hair-on-fire, high-interest credit card debt, but that's not your situation, @Log.
FWIW, I can think of at least two well-respected forumites who retired with student loans and mortgages...
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I always saw those "$X to $Y" threads and was looking forward to crossing $10k so I could participate and just discovered this thread! I have almost 50k in student loans, mostly below 5% interest, no other debt.
3/11/2023: $(7,653)
Net 0 doesn't feel too far away.
This isn't the "Defeat the Net Debt" thread. It doesn't matter if you have debt waiting to be demolished over time, it matters that you get to $10k in your own investment accounts. Money that will snowball toward FIRE. You absolutely should celebrate this milestone! The exception would be hair-on-fire, high-interest credit card debt, but that's not your situation, @Log.
FWIW, I can think of at least two well-respected forumites who retired with student loans and mortgages...
Ah yeah, I was implicitly adding [Net Worth] to the title here. At such low interest rates, I am in no rush with my student loans - my application for the SAVE plan is currently pending... but I still think it's worth acknowledging as a counterbalance to my savings. But I also count certain valuable musical instruments in that net worth as well. That full calculation has my net worth within a paycheck of crossing $0!
If I just count up investments and ignore all else, I'm just over $17k, which feels pretty grand now that you mention it 🎉
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Good job! Time to move up to the next cohort.
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Loan: -18,978.78
BoI savings: 15.00
DiBa ETF: 7,333.96
CmzBank savings a/c: 3,025
Total: -8,604.82
Loan: -18,628.35
BoI savings: 15.00
DiBa ETF: 7,447.41
CmzBank savings a/c: 3,150
Total: -8,025.94
Little bit extra saved and a slightly bigger little bit extra paid off loan, thanks to the xmas bonus we received with our November salary.