Women in Red Savers 2014

[Jaguar]

I've been looking over my budget and I believe I can get everything done on my list by April 28th 2017. I gotta scrimp and save, but I'm going to do it. My goal is to do the Gateway Voyage Program at The Monroe Institute in Virginia Campus by my 55th birthday. I think I'll get there for September/October 2016 that's much earlier than I even hoped for.

[Saving4Norway]

I like to supplement everything with ice cream.

[forwardwego]

UPDATE Forwardwego 12/7/2014 $2580 ( 8/30/2014 $1040, Goal = $3000)



fund 2014    goal__    current    % met    $$ needed
rental EF     1000       880          88         120
homestd EF  1200       900         75         300
vehicle EF     800        800        100        
total           3000      2580         86         420


I should be able to earn my rose on the rental EF, and will come pretty close on the homestead EF.
Looking ahead 3.5 weeks   to 2015...


the rental EF should probably be increased to at least $5K, 
the Homestead EF increased to $2000-2500,
and the Vehicle EF increased to $1200-1500


Also need to save $1200 for a tree removal...priority
and $800 for tires on DH's truck...we've got a little time but sometime in 2015. 

[Jaguar]

I switched around my budget, TV, Moving Fund, Then Gateway Voyage Program, then new mattress & boxspring.

[teachermom]

Update....still making progress towards my goal of $1000 in my EF by the end of the year.


Had $644.79 in there from last update. Added $53.60 from a reimbursement and $35 more from sales of clothes. Selling a small student desk and more clothes on Sat. ($20 desk + $20 clothes + ?? she hasn't decided which ones for sure)....that will put me close to $800. Waiting for a $75 reimbursement, $20 reimbursement and a couple others. Still pushing but I think I will make my goal!!!

Balance right now: Teachermom 11/27/2014 $733.39 (11/10/2014 $0 - Goal $1000)

Great job to everyone else on meeting such amazing goals for 2014!!! You guys rock!!

Teachermom

[seriousthistime]

teachermom, you are very inspiring!  Give yourself a pat on the back; you are doing so well!

[teachermom]

Thanks Seriousthistime......I am working really hard on this! I need to get in a better position financially. It is too stressful living life this way.

Teachermom

[scrgrl47]

Hi there savers - popping in because I'm excited for 2015!  Are 2015 savings goals going to happen in the 2014 thread or should I wait for the new thread to be activated?  Totally jumping the gun here....I won't really know what my new budget is until merit increases are released, but I get way too excited about the planning process (and less excited about the execution process, doh!). 

Quick savings summary: all of my savings categories are auto-transfers tied to my biweekly paycheck, except for two that I will be "racing" at the start of the year.  These are my HSA and rowing accounts, both which I'd like to have funded ASAP.  Rowing expenses, in particular, caught me off-guard in 2014.  Granted, I didn't know I'd do it once and end up in a torrid love affair with it all season, but regardless.  It needs *way* better prep in 2015.  Some of these categories, like gifts and clothes, are intended to be spent through the year so I'll be tracking contributions as opposed to balances.  

I also haven't saved for retirement since 2009 as there was no consistent paycheck until 2013 (MBA, sketchy under-the-table consulting gigs, and making survival-only money for a while).  Since regular paychecks have started coming, I've been crawling out of the hole I dug and trying to reduce any minimum payments in case I'm ever in a tough situation again.  The $650 minimum monthly school loan payment killed me in the months where I made $0 so that has been prioritized over retirement (esp w/ loans @ 6.5% and 7.9%) thus far. 

However - all that to say a portion of my merit increase will go to a 401k roth option, at least enough to maximize my company's match.  It's time to set-it-and-forget-it w/r/t retirement.

<<cross-posted to WIRR>> Do any of you share the mental/emotional battle between wanting to prioritize debt paydown AND savings building, especially during your annual planning cycle?  I recognize that patience is a virtue and I didn't get into this mess overnight and am not getting out of it overnight and other logical, mature sayings but sometimes I just want to have a massive, stomping, "why me" tantrum.  I want debt GONE and savings BUILT and I want it done NOW! 

And now it's time to translate that frustration into 365 days of action, smart decisions, and progress. 

[bankergurl]

Not sure of savings goals for 2015 yet, other then to keep my savings at or above $25K (not counting my HSA or retirement savings).  I may try to come up with more detailed goals but not sure yet.

• Get savings to and keep at/above $25K
• Get retirement savings over $50K

 

 

[bankergurl]

Here is my savings update!

Total Regular Savings $24,455.00
Total Retirement Savings $48,916.63
HSA Savings $10,376.38
Total Savings = $83,748.01

Banker Gurl ($83,748.01 12/10/14)

[Rocky Mtn Saver]

I'm changing my work situation in February, so I won't know what my 2015 plan is until the spring.  So, for now I'm just going to participate but not race anything.  If that changes mid-year, I'll post new goals. 

[seriousthistime]

My plan is to finish off the 2014 thread with one last update the Sunday after January 1 and have Sugi lock it down then.  We are always able to look at locked threads, and copy/paste info from them.  So before we get the 2015 thread up and running, feel free to post your goals here and then transfer them to the 2015 thread.  

Hell's bells, ladies, if you're motivated to set goals now, have at it!

Speaking for myself, I am very torn between debt payoff and savings.  It is not mutually exclusive!  And if there's anyone who beats herself up over the past and being so far behind where she should be now, it is me!  I don't do it on these threads so much, but when I think of my past spending indiscretions and backsliding, it's just so downright depressing. But sometimes it is progress just to put one foot in front of the other; you know?

There's that saying that those who fail to learn from history are destined to repeat it, and it is just as true here as it is anywhere else. 

Bankergurl, I would love to know your budget if you'd care to share.  Or is it on your blog?  I swear you are saving more money than you earn!  

[Ombud]

For 2015:

Roth 6500
College 8000
Emergency fund 6000

But only have $4587 so I'm currently negative $15,913 .... that's assuming I don't go on vacation. Tough when you have to buy a new car and aren't prepared for that

[forwardwego]

UPDATE Forwardwego 12/12/2014 $2760 ( 8/30/2014 $1040, Goal = $3000)

fund 2014	goal___	current	% met	$$ needed
rental EF	1000	1040	104
homestead EF	1200	920	76	280
vehicle EF	800	800	100
total	3000	2760	92	280

Good morning savers 

Tweaking my goals. I was struggling with wanting to finish my race #2, which has taken longer than I hoped. I've come up with a middle ground between savings and debt paydown that would possibly see my race at zero December 2015. I really appreciate the reminders from seriousthistime to not beat myself up about the past, and that saving and paying down can occur simultaneously. Getting a better grip on balance & moderation is a valuable skill. And Rocky Mountain Saver, I appreciate the perspective you gave that if we pay down debt from savings we set ourselves up for relapse, and a lack of appreciation for how hard it is to get out of debt. Savings is self-insurance against the unplanned events, and the debt they can trigger. It has taken me a long time to mature in my overall financial outlook, but using the lessons now will make it worth it.

[teachermom]

Good morning! So excited for the weekend and to go through more things I can list for sale! I encourage you all to go through stuff you don't use and list it for sale on Craigslist or on FB buy, sell, or trade sites in your area. It is a great way to get rid of the clutter, extra clothes, etc. You can also find great deal there. We all have things we no longer use....might as well sell and put the money to work for you!

I will make it to my $1000 in my EF this month. Also working on my savings goals for next year. Haven't decided what strategy I want to use either. I know that I need to get debt paid off but even this month....had I not had the extra $$ I was going to put to debt, Murphy would have got me.....so I need to get some money set aside for planned things....tires, insurance, etc.

Update after the weekend since I have some pending sales already!!

Teachermom

ETA.....anyone have good idea for selling books? I have LOTS!!! I love to read!!!

[Ombud]

teachermom, I also have a wall of books 13' x 8'. When I was growing up, it was common to have a home library. Now we only read online but someone else might be able to use these. And I'd like to display something on those shelves. Any ideas folks??

I'll keep those boxed up (old ... like 1850s-1930s)

[teachermom]

I found some sites that buy used books....has anyone used any of them?

*bookscouter.com
*cash4books
*Sell back your books
*Powell's books
*Sellbackbooks
*half.com
*Blue Rectangle
*CKY books
*knetbooks.com

Info from this website: moneypantry.com/best-places-to-sell-books-online-for-cash/

I have not researched them to compare. Most you have to enter the ISBN # off the book and they will decide if they want it and how much they pay for it.

Feedback please!!!

Teachermom

[Ombud]

When Mom died, I tried half. Got $2 for a box. Not worth the trouble

Awesome savings teachermom

[seriousthistime]

The Salvation Army website has a donation value guide for various items.  Hard cover books range from $1.00 to $3.00 each.  Paperbacks are from 75 cents to $1.50.  If you are already in a situation where you can itemize deductions, it is more beneficial for you to donate the items and take the tax deduction than sell them for $2 per box. 

At this time of year it's like selling your items for a better price than you can get from a book reseller, and waiting a few months for payment via your tax return.  Just be sure to get a receipt. 

[teachermom]

Yep....seems like most books are worth little to nothing on those sites I tried.

Will check out the other options.

Teachermom

[teachermom]

Update: Got stood up on the sale of the desk today, but that is ok....selling it and a chair on Monday, some clothes tomorrow, and 2 pairs of jeans on Wed....tomorrow we are cleaning up some other stuff so we can get it posted as well as some more clothes!! On a mission!

Received my $75 reimbursement today so now at: Teachermom 11/27/2014 $808.39 (11/10/2014 $0 - Goal $1000) Whoop!!

Teachermom

[Jaguar]

This will all change when I buy the TV.

Saving Funds	Goals	Current	% Saved	Woo Hoo
TV Fund	$510	$510	100%	Woo Hoo
Moving Fund	$1300	$177	13.6%	?
Gateway Voyage	$4000	$0	0%	?
Mattress Fund	$2300	$0	0%	?
GRAND TOTAL	$8,110	$687	8.5%	?

Sugilite - 12/14/2014 - $687 - [NEW GOAL - $8,110] =

[seriousthistime]

Dec 14, 2014 2:42:14 GMT -5 Jaguar said:

This will all change when I buy the TV.

Saving Funds	Goals	Current	% Saved	Woo Hoo
TV Fund	$510	$510	100%	Woo Hoo
Moving Fund	$1300	$177	13.6%	?
Gateway Voyage	$4000	$0	0%	?
Mattress Fund	$2300	$0	0%	?
GRAND TOTAL	$8,110	$687	8.5%	?

Sugilite - 12/14/2014 - $687 - [NEW GOAL - $8,110] =

Added the roses for you!

[teachermom]

Congrats Sugi! Have fun shopping for your new TV. Your balance doesn't have to change as you did save that and that is what you are tracking. You saved it for a specific task...your TV.

Meeting some people today to sell some clothes.....I know for sure...$20, $12 but who knows!!!

Teachermom

[seriousthistime]

Dec 14, 2014 12:22:18 GMT -5 teachermom said:

Congrats Sugi! Have fun shopping for your new TV. Your balance doesn't have to change as you did save that and that is what you are tracking. You saved it for a specific task...your TV.

Meeting some people today to sell some clothes.....I know for sure...$20, $12 but who knows!!!

Teachermom

I agree with teachermom.  Track what you've saved, not what you've spent for those earmarked savings.  

[Jaguar]

What I save from the TV, I'm putting into Moving Fund, I need to get that fund topped up ASAP.

[forwardwego]

teachermom you have done really well at selling things to build your EF. Have you considered offering to do this as a service for friends or co-workers, and split the "profit"?

Congrats on the new TV Sugi !

Ombud nice work on your 2015 goals!

bankergurl congrats on your update!


Goals for 2015 (work in progress)

savings fund 2015	goal$
rental EF	5000
tree removal	1200
homestead EF	2500
truck tires	800
vehicles EF	1500
total	11000

plus weekly savings challenge $1378

[teachermom]

forwardwego....that is a great idea! I will give that a go after I get done with my house!! At least once I get everything gone through and listed for sale.

Sold $20 worth of clothes today so far. One of my appts cancelled for tomorrow....so tomorrow will be $12-$15 + $25 for the desk and chair. Listing more stuff today!!!

Teachermom

[Ombud]

INPUT WANTED:

I'm thinking of really scrimping and completing 1 goal this year instead of putting an additional lump sum on my debt (@ 1.289%). That way I only have 2 goals (& maybe 2 short trips) next year. We did Hannukah early and light (DS is in a savings mode too & DD is broke still). I only have baking to go & will do that out of grocery $$s

WWYD?

[Ombud]

Dec 10, 2014 13:55:33 GMT -5 Rocky Mtn Saver said:

I'm changing my work situation in February

??missed this??