Author Topic: Saving to $10K  (Read 164615 times)

DS

  • Pencil Stache
  • ****
  • Posts: 678
Re: Saving to $10K
« Reply #1200 on: February 05, 2019, 07:37:54 AM »
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.

JanetJackson

  • Pencil Stache
  • ****
  • Posts: 671
  • Location: United States
    • How I actually made $50 just for taking a survey and being in the healthcare marketplace
Re: Saving to $10K
« Reply #1201 on: February 05, 2019, 07:48:45 AM »
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.

haypug16

  • Pencil Stache
  • ****
  • Posts: 985
  • Age: 40
  • Location: Boston, MA
Re: Saving to $10K
« Reply #1202 on: February 05, 2019, 09:01:40 AM »
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!


haypug16

  • Pencil Stache
  • ****
  • Posts: 985
  • Age: 40
  • Location: Boston, MA
Re: Saving to $10K
« Reply #1203 on: February 15, 2019, 06:20:28 AM »
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.

ItsALongStory

  • Stubble
  • **
  • Posts: 139
  • Location: Western US
Re: Saving to $10K
« Reply #1204 on: February 15, 2019, 10:12:51 AM »
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
« Last Edit: February 15, 2019, 09:30:55 PM by ItsALongStory »

TyGuy

  • 5 O'Clock Shadow
  • *
  • Posts: 16
  • Age: 24
  • Location: Eugene, OR
Re: Saving to $10K
« Reply #1205 on: February 15, 2019, 08:10:07 PM »
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!

efree

  • 5 O'Clock Shadow
  • *
  • Posts: 12
  • Location: Europe
    • My blog about P2P lending
Re: Saving to $10K
« Reply #1206 on: February 16, 2019, 02:04:53 PM »
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.

Yasha

  • 5 O'Clock Shadow
  • *
  • Posts: 49
Re: Saving to $10K
« Reply #1207 on: February 16, 2019, 06:15:04 PM »
Debt freeeeeeeeeeee~

ItsALongStory

  • Stubble
  • **
  • Posts: 139
  • Location: Western US
Re: Saving to $10K
« Reply #1208 on: February 16, 2019, 10:24:04 PM »
Debt freeeeeeeeeeee~
Now that snowball will really pick up speed. Congrats!

Sent from my Pixel 2 XL using Tapatalk


Trifele

  • Handlebar Stache
  • *****
  • Posts: 1896
  • Location: US
Re: Saving to $10K
« Reply #1209 on: February 17, 2019, 03:44:39 AM »
Debt freeeeeeeeeeee~

Congrats @Yasha!!   Fantastic!

mckaylabaloney

  • 5 O'Clock Shadow
  • *
  • Posts: 49
  • Age: 30
Re: Saving to $10K
« Reply #1210 on: February 17, 2019, 11:11:41 AM »
ahhhh so happy for you @Yasha !!

dilemma

  • 5 O'Clock Shadow
  • *
  • Posts: 4
Re: Saving to $10K
« Reply #1211 on: February 18, 2019, 03:05:13 AM »
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.

Imma

  • Handlebar Stache
  • *****
  • Posts: 1474
  • Location: Europe
Re: Saving to $10K
« Reply #1212 on: February 18, 2019, 05:18:37 AM »
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.

bcbaseballman

  • 5 O'Clock Shadow
  • *
  • Posts: 65
  • Age: 29
  • Location: Kansas
Re: Saving to $10K
« Reply #1213 on: February 18, 2019, 07:07:47 AM »
Yay @Yasha !!

FlamingTurtle

  • 5 O'Clock Shadow
  • *
  • Posts: 4
Re: Saving to $10K
« Reply #1214 on: February 20, 2019, 08:15:32 AM »
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!

Lincolnshire Girl

  • 5 O'Clock Shadow
  • *
  • Posts: 52
  • Location: UK
Re: Saving to $10K
« Reply #1215 on: February 20, 2019, 08:29:16 AM »
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.

keepingfocus

  • 5 O'Clock Shadow
  • *
  • Posts: 2
Re: Saving to $10K
« Reply #1216 on: February 24, 2019, 05:16:34 AM »
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!

ItsALongStory

  • Stubble
  • **
  • Posts: 139
  • Location: Western US
Re: Saving to $10K
« Reply #1217 on: February 24, 2019, 04:29:47 PM »
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?

keepingfocus

  • 5 O'Clock Shadow
  • *
  • Posts: 2
Re: Saving to $10K
« Reply #1218 on: February 25, 2019, 11:45:50 AM »
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.

ItsALongStory

  • Stubble
  • **
  • Posts: 139
  • Location: Western US
Re: Saving to $10K
« Reply #1219 on: February 25, 2019, 10:01:23 PM »
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.

BobTheBuilder

  • Stubble
  • **
  • Posts: 126
Re: Saving to $10K
« Reply #1220 on: February 26, 2019, 02:43:39 PM »
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!

Imma

  • Handlebar Stache
  • *****
  • Posts: 1474
  • Location: Europe
Re: Saving to $10K
« Reply #1221 on: February 26, 2019, 03:07:23 PM »
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.

haypug16

  • Pencil Stache
  • ****
  • Posts: 985
  • Age: 40
  • Location: Boston, MA
Re: Saving to $10K
« Reply #1222 on: February 28, 2019, 08:58:31 AM »
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?!?!

LittleWanderer

  • Stubble
  • **
  • Posts: 168
  • Location: USA
Re: Saving to $10K
« Reply #1223 on: February 28, 2019, 10:15:07 AM »
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!!

Optimiser

  • Pencil Stache
  • ****
  • Posts: 544
  • Age: 36
  • Location: PNW
Re: Saving to $10K
« Reply #1224 on: March 01, 2019, 09:20:12 AM »
Net worth:
Jan 2019 $500
Feb 2019 $5,000

mckaylabaloney

  • 5 O'Clock Shadow
  • *
  • Posts: 49
  • Age: 30
Re: Saving to $10K
« Reply #1225 on: March 01, 2019, 09:42:49 AM »
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!

Tass

  • Handlebar Stache
  • *****
  • Posts: 1119
  • Age: 25
  • Location: Southern California
  • Working on a PhD...
Re: Saving to $10K
« Reply #1226 on: March 01, 2019, 11:18:21 AM »
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. ;)

wild forest

  • 5 O'Clock Shadow
  • *
  • Posts: 22
Re: Saving to $10K
« Reply #1227 on: March 01, 2019, 07:10:30 PM »
Jan. 30, 2019: $2,973.81

I'll update it monthly and see how it goes.

3-1-2019

$3,776.82

jdhansen

  • 5 O'Clock Shadow
  • *
  • Posts: 22
Re: Saving to $10K
« Reply #1228 on: March 02, 2019, 07:18:34 PM »
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.


ItsALongStory

  • Stubble
  • **
  • Posts: 139
  • Location: Western US
Re: Saving to $10K
« Reply #1229 on: March 02, 2019, 08:21:51 PM »
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

haypug16

  • Pencil Stache
  • ****
  • Posts: 985
  • Age: 40
  • Location: Boston, MA
Re: Saving to $10K
« Reply #1230 on: March 04, 2019, 11:01:56 AM »
Great job everyone. I love checking this thread for all the progress updates.

Moonwaves

  • Handlebar Stache
  • *****
  • Posts: 1053
  • Location: Germany
    • My blog
Re: Saving to $10K
« Reply #1231 on: March 04, 2019, 12:48:21 PM »
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.
« Last Edit: March 04, 2019, 12:50:07 PM by Moonwaves »

Imma

  • Handlebar Stache
  • *****
  • Posts: 1474
  • Location: Europe
Re: Saving to $10K
« Reply #1232 on: March 04, 2019, 01:11:43 PM »
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.

TyGuy

  • 5 O'Clock Shadow
  • *
  • Posts: 16
  • Age: 24
  • Location: Eugene, OR
Re: Saving to $10K
« Reply #1233 on: March 04, 2019, 06:04:21 PM »
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!

TyGuy

  • 5 O'Clock Shadow
  • *
  • Posts: 16
  • Age: 24
  • Location: Eugene, OR
Re: Saving to $10K
« Reply #1234 on: March 04, 2019, 06:16:31 PM »
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!

TyGuy

  • 5 O'Clock Shadow
  • *
  • Posts: 16
  • Age: 24
  • Location: Eugene, OR
Re: Saving to $10K
« Reply #1235 on: March 04, 2019, 06:20:35 PM »
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!
« Last Edit: March 04, 2019, 06:23:31 PM by TyGuy »

haypug16

  • Pencil Stache
  • ****
  • Posts: 985
  • Age: 40
  • Location: Boston, MA
Re: Saving to $10K
« Reply #1236 on: March 05, 2019, 07:32:29 AM »
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.

Rimu05

  • Stubble
  • **
  • Posts: 204
Re: Saving to $10K
« Reply #1237 on: March 09, 2019, 04:03:14 PM »
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!

ItsALongStory

  • Stubble
  • **
  • Posts: 139
  • Location: Western US
Re: Saving to $10K
« Reply #1238 on: March 09, 2019, 05:26:25 PM »
@Rimu05 that is one fancy laptop for $1k, can you go with a cheaper model and put the difference on debt?

Rimu05

  • Stubble
  • **
  • Posts: 204
Re: Saving to $10K
« Reply #1239 on: March 10, 2019, 03:01:47 PM »
@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.

Imma

  • Handlebar Stache
  • *****
  • Posts: 1474
  • Location: Europe
Re: Saving to $10K
« Reply #1240 on: March 10, 2019, 03:36:22 PM »
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.

Tass

  • Handlebar Stache
  • *****
  • Posts: 1119
  • Age: 25
  • Location: Southern California
  • Working on a PhD...
Re: Saving to $10K
« Reply #1241 on: March 10, 2019, 05:28:40 PM »
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.
« Last Edit: March 14, 2019, 12:48:28 PM by Tass »

Rimu05

  • Stubble
  • **
  • Posts: 204
Re: Saving to $10K
« Reply #1242 on: March 14, 2019, 09:43:58 AM »
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.

cazio

  • 5 O'Clock Shadow
  • *
  • Posts: 78
Re: Saving to $10K
« Reply #1243 on: March 14, 2019, 12:43:07 PM »
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.

Dicey

  • Walrus Stache
  • *******
  • Posts: 9418
  • Age: 61
  • Location: NorCal
Re: Saving to $10K
« Reply #1244 on: March 14, 2019, 09:41:13 PM »
[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!

haypug16

  • Pencil Stache
  • ****
  • Posts: 985
  • Age: 40
  • Location: Boston, MA
Re: Saving to $10K
« Reply #1245 on: March 15, 2019, 09:43:23 AM »
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.

ItsALongStory

  • Stubble
  • **
  • Posts: 139
  • Location: Western US
Re: Saving to $10K
« Reply #1246 on: March 15, 2019, 06:26:18 PM »
Just 60k worth of progress in one year, nothing to get excited about. ;-)

Sent from my Pixel 2 XL using Tapatalk


ItsALongStory

  • Stubble
  • **
  • Posts: 139
  • Location: Western US
Re: Saving to $10K
« Reply #1247 on: March 16, 2019, 10:05:41 AM »
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.