Women in Red Savers 2015

[shanendoah]

minnesotapaintlady - If you take it out, I would also reduce the goal, since you are no longer trying to save $500 this year, but $400. But I would likely just leave the $100 in your accounting, since the money is being saved for this specific purpose and the money is then being used for this specific purpose.

[Saving4Norway]

MPL, There is no special rule here. It kind of all depends on how you choose to track it. For example, one of my savings categories is for my dog expenses. Throughout the year, I spend about $1500 on food, toys, baths, vet appointments, and obedience classes for my fur baby. I spend that money throughout the year, not in one big chunk. So, basically, I save it up the first half of the year but gradually spend it between January and December. The way I look at it is it's money meant to be spent so I don't subtract it here on the board. What I choose to track here are my steps towards my savings GOALS.

Sure, in my own personal budget spreadsheets I do have a running total of where each category stands in terms of how much I've saved vs. how much I've spent. If I subtracted my spendings from my savings here I'd pretty much start with $0 and eventually end with $0. Not really motivating if you ask me. It would be like driving to the mountains, going on a 5 mile hike, driving back home, and saying you went 0 miles because you ended up coming home, where you started in the first place. It's true you're back home, but I want to give myself credit for the 5 miles I hiked. So, although I end up spending $1500 on my dog by the end of the year, I want to give myself the motivation and then the credit to having saved it, and not choosing to charge it.

[Deleted]

I think I'll leave it in the goals.  It's not like I'm going to need $100 more because of using that since it went towards what it was for. 

[forwardwego]

UPDATE  3/20/2015 $3038 (goal $11378)

fund 2015	present	goal	% met	$$ needed
rental EF	500	5000	10	4500
homestead EF	1180	2000	59	820
vehicle EF	630	1000	63	370
tree removal	180	1200	15	1020
truck tires	80	800	10	720
52 week challenge*	468	1378	34	910
totals	3038	11378	26	8340

*52 week challenge summary

1  2   3  4   5  6   7  8   9  10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51 52

52+51+26+21+40+50+49+24+47 +48+46+14=468

Well here's a PU..."petite update"   Next week I hope to get to the middle of the $3K's

Keep up the good work savers 

[seriousthistime]

Mar 19, 2015 21:59:53 GMT -5 minnesotapaintlady said:

I think I'll leave it in the goals.  It's not like I'm going to need $100 more because of using that since it went towards what it was for. 

Exactly.  After all, we anticipate that every penny of our savings will be spent on something eventually.  That doesn't stop us from counting it. 

[shanendoah]

Need to spend some time in YNAB this weekend, but I don't expect a big update here this month, as it turns out my car will need about $2500 in work done (before tax). That will come out of the emergency fund (which is fully funded), but then, replenishing the emergency fund takes priority over house fund or vacation savings.

[speechchick71]

UPDATE: speechchick71 3/22/15 $1005 (goal=$20,005, started 1/1/2015)

	6-Mar	22-Mar	Goal	How much to go	% Met
Weekly Challenge	$550.00	$780.00	$13,780.00	$13,000.00	6%
$25/week	$200.00	$225.00	$725.00	$500.00	31%
Roth 2015	$0.00	$0.00	$5,500.00	$5,500.00	0%
	-	-	-	-
Totals	$750.00	$1,005.00	$20,005.00	$19,000.00	5%

The next couple weeks might be meager.  My job is ending and I don't have one set up yet.  I might have to dip in to these savings but that's what they're there for, right?

[seriousthistime]

	3/13/2015	Goal	% Saved	Roses
Deferred purchases	$806	$2,075	38.8%
CC paydown	$0	$8,500	0%
EF	$700	$1,000	70.0%
Gifts	$753	$2,600	29.0%
Utilities	$60	$280	21.4%
Weekly Savings	$318	$1,378	23.1%
Total	$2,637	$14,498	18.2%

Serious this time, 3/13/15, $2,637 (Goal $14,498)

Speaking just statistically for a moment, I should be closer to 25% of my goal at this point in the year. My CC paydown is seriously underfunded. But I didn't expect to start funding that until I finished by WIR Racers Race #3, which I have now done.  Hope to be zooming along on that goal now. 

I'm within a few paychecks of winning my first rose, for my EF.  In the past, when I needed to draw from savings from something unforeseen (and there's always something unforeseen, right?), I would draw it from the EF.  This time, I want to keep it in there and not touch it. 

In the past I've been pretty much a linear saver, saving the same amount each paycheck to meet the annual goal with the last paycheck.  This year I'm doing things differently.  I'm finding it's a bit more interesting that way. 

[Ombud]

speechchick71, absolutely!!

And minnesotapaintlady, I spend mine. Usually all of it. Including this year already:
Alaska
Ireland
French Horn
Roth deposit.

Ok. I'm in debt (OVERDRAWN) but my new boss also skipped paying us on the 15th so I'll be even as soon as she does.

[Ombud]

edited 3/26

Got pd so I balance.
♡ 12K Alaska
♡ 2K Ireland
♡ 2.5k Horn
♡ 6.5k Roth
♡ 1k Volunteer in Israel
Almost out of overtime crazy season & back to part time in 2 weeks but I should still make the final goal by end of year

☆ 6k emergency fund

Ombud $24,000 (6k on 1/1/15, Goal 30k) - 80%

[Jaguar]

Well it's official I'm over $1,500 saved in the Bank so that's one less Bank Fee that I have to pay from now on, WOO HOO.

[azucena]

Azucena: 1/9/15 $19,300 goal $39,300  Downpayment for a new house Spring of 2016
1/14/15 +755 last 2014 daycare reimbursement $20,055
1/30/15 +1202 third paycheck of the month so no deductions $21,257
2/27/15 +633 last 2014 healthcare reimbursement $21,890
3/10/15 +2075 tax refund $23,965
3/27/15 +7348 bonus $31,300

I never count on my bonus but clearly I was blessed this year.  Man, oh man, the gross number was twice as big - taxes suck!  I've only received a bonus the last handful of years and the gross vs net still amazes and saddens me. 

I need to think about increasing my goal because I know I'll have another $5000 to add from daycare reimbursements.  I want the goal to stretch me.  I'm finding it very motivating to know I'll be coming out here to share my savings increases.  Can't share that much in real life.

I have never in my life had this much 'cash' saved.  And I am quite thankful for the years of much more modest salary that have shaped my mentality towards money and formed the goal of hording cash this year for a downpayment next year.  Now, I'm trying a bit desperately to hold onto that mentality and not let our lifestyle creep too much. 

Raise was 3%.  Headed online this morning to bump up my 401k/Roth 401k by that amount.  I think my current split is
6% 401k and 5% Roth 401k with a 5% employer match going into 401k.  I feel like I should put the full 3% into roth but putting it in aftertax is hard to stomach.  I should probably start a thread on the main board to solicit opinions.

[forwardwego]

UPDATE  3/27/2015 $3300 (goal $11378)

fund 2015	present	goal	% met	$$ needed
rental EF	600	5000	12	4400
homestead EF	1200	2000	60	800
vehicle EF	700	1000	70	300
tree removal	200	1200	16	1000
truck tires	100	800	12	700
52 week challenge*	500	1378	36	878
totals	3300	11378	29	8078

*52 week challenge summary

1  2   3  4   5  6   7  8   9  10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51 52

52+51+26+21+40+50+49+24+47 +48+46+14+32=500

My theme this week was getting everything up to the even hundred amount. It's especially good to have the vehicle EF pretty high since DH has something going wrong with his truck 


Keep up the good work savers 


ETA: Tax return results are in and are good. Refund $582, subtracting $415 tax accountant bill, leaves $167 to savings. This is pretty much what i had hoped for, very nearly even. However I did adjust my W4 for more withholding for 2015, because it looks like the gov't has changed the percentages so that I am seeing more in my check this year. Does anyone have knowledge on this? Would love to understand better.

[Deleted]

So, I pretty much have all my March income in and am ready to post my update numbers a few days early.  I got paid for my PT job (only get that ever few months) and got a small bonus check at work so I was able to knock off a couple of the smaller goals.

Fund	2015 Goal	Current	Needed	% Complete
Roth	$5500	$5500	$0	100.00%
Replacement Car	$3600	$2900	$700	80.56%
College	$2400	$800	$1600	33.33%
Vacation	$2000	$2000	$0	100.00%
Washer & Dryer	$1500	$1500	$0	100.00%
Pr. High School	$1000	$0	$1000	0.00%
Carpet	$500	$500	$0	100.00%
Sea Base	$500	$500	$0	100.00%
Christmas	$500	$500	$0	100.00%
Y Membership	$400	$400	$0	100.00%

[megaptera]

UPDATE

megaptera: 3/27/2015 $3,900.00 [1/1/2015 $0.00 / Goal: $15,000]

Have a great weekend everyone; Emerald City Comic Con, here I come! (Yes, I'm a geek. )

[seriousthistime]

	3/27/2015	Goal	% Saved	Roses
Deferred purchases	$866	$2,075	41.7%
CC paydown	$100	$8,500	1.2%
EF	$800	$1,000	80.0%
Gifts	$853	$2,600	32.8%
Utilities	$70	$280	25.0%
Weekly Savings	$375	$1,378	27.3%
Total	$3,064	$14,498	21.1%

Serious this time, 3/27/15, $3,064 (1/1/15, $0, Goal $14,498)


Okay, making some progress.  I am close to making my first   for meeting 25% of my overall goal, and by the end of next month I should earn that plus my first rose.

I am very inspired by this group!

With my last paycheck I funded some tree removal.  I had a flowering crab planted too close to the house, and it was pruned badly over the years by previous owners so the branches were all twisted around each other, plus every year I had to have it topped off so it wouldn't rub against my roof.  It also blocked the sunlight into one of my bedrooms.  I had someone remove it ($150) and this next week someone else is coming to grind out the stump ($195).  I'm going to transplant some spirea bushes in that area (they need to come out from where they're planted now).  But first I need to see where the hostas are.  They should be pushing their shoots above ground in the next week or two.  I shouldn't have to dip into savings for any of this. 

The monthly update will most likely not be done until Saturday, April 4.  If you can get your updates in by the night of the 3rd, I'd appreciate it.

Happy Spring, and Happy Saving! 

[scrgrl47]

Update! scrgrl47 3/28/2015 $7,822.87 (Start: $42.04 / Goal: $19,820)

Fund	Start	Last Update	Saved Since	Current Balance	Total Saved	Goal
HSA	$0.00	$1,361.52	$180.76	$1,542.28	$1,542.28	$3,300.00
Rowing	$0.00	$0.00	$0.00	$0.00	$0.00	$2,000.00
Retirement	$0.00	$1,644.19	$1,638.44	$3,282.63	$3,282.63	$7,500.00
Car	$0.00	$600.00	$240.00	$840.00	$840.00	$3,120.00
Vacations	$0.00	$500.00	$200.00	$700.00	$700.00	$2,400.00
EF	$42.04	$392.04	$1,107.96	$1,500.00	$1,457.96	$1,500.00
Total	$42.04	$2,863.55	$3,367.16	$7,864.91	$7,822.87	$19,820.00

Well, I forgot to change my 401k % before I got my bonus check so that's where that chunk originated.  It's probably a good way to catch up after a few years of $0 retirement contributions but still would have preferred to see that pay off my small student loan.  

This is the only place I feel I can be honest without judgment about this, even though it's a good thing....I think it's time to get a professional involved because with the Brazil thing and the 'extra' that will be counted as taxable income in 2015, I'm going to surpass the penalty limit for Roth contributions.

Has anyone dealt with this and realized halfway through the year that you've already made contributions that will be penalized annually?  How did you handle it?

Thanks!

[Deleted]

Mar 27, 2015 19:25:24 GMT -5 scrgrl47 said:

Has anyone dealt with this and realized halfway through the year that you've already made contributions that will be penalized annually?  How did you handle it?

Well, I've definitely never had too much income for a Roth, but I know you can take the contribution out or have it re-characterized as a traditional if you find out you're over the limit.

[teachermom]

Dang.....one step forward, two back all the time. Can't seem to catch a break.

Cleaned a friends house out and made runs, drop offs of stuff she didn't take with her etc. and was paid $350 for my time. Murphy hit....had to replace breaks and so not caught up to take care of any "planned" spending like maintenance....cost $344.....so only $6 to the plus. Ugh! But at least it was cash.

Found out I need 2 shocks....so $198 more coming up in a week or so. Might have to use the tire savings for it if they think I can put off the tire purchase at least until I get my tax return back.

Medical bills are kicking my butt too! Had an MRI on my knee a couple of months ago after numerous doctor visits, PT visits, etc. Finally insurance agreed, so had it done. Got the bill...denied charges. Need to find out what is going on there. My son (the one with all the medical issues) spent 6 hours in the ER, numerous tests, CT scan, etc......now I owe $1100. All on top of his more than $7000 and climbing bill for his every 8 weeks infusion. Then if all that wasn't bad enough.... cracked a tooth last night.....wasn't for sure, but now I am...need to make a dentist appt.

Feel like it is a never ending battle.

Time to work on the budget!

Teachermom

[Ombud]

scrgrl47 said:

I'm going to surpass the penalty limit for Roth contributions.

Has anyone dealt with this and realized halfway through the year that you've already made contributions that will be penalized annually?  How did you handle it?

Thanks!

Not personally but I strongly suggest that you contact the investment firm & request that the overage either (1) be transferred to a different year or (2) reclassified as a non-deductible IRA so it would be transferred back later or (3) be withdrawn and pay off a SL. No point in paying annual penalties

[Minnesotagirl7]

Hi Savers!

I'm excited to join the group. One of my goals for 2015 was to increase our EF by $10k. Since the beginning of the year, we've added $3600. Here's my tagline:

Minnesotagirl7: 3/29/15 $20,000 (1/1/15 Start $16,400 / Goal $26,400)


My stretch goal is to get our EF up to $30k by the end of the year. As far as debt goes, all we have remaining are our mortgages (rental property and our home). Our retirement contributions are set, so anything extra we have each month will go into the EF.

I look forward to saving with you guys!

[shanendoah]

I need to sit down tonight or tomorrow with YNAB and get everything reconciled. However, I am now anticipating a total of $5k in work on the car, which comes out of the EF. Replacing that then becomes the primary goal, not the other savings goals. I did transfer money into Pop Tart's college fund, so that still went up.

Also, we are under contract for the Reno condo, which should net us around $60k, so that will change not just the numbers but the goals. I'll need to sit down with C and decide what the plan is next.

[forwardwego]

shanendoah Congrats on the condo contract. I hope that goes smoothly & am looking forward to your updated amounts and goals...very exciting.


Minnesotagirl7 Welcome 


teachermom oh my gosh,...don't know what to say except I'm thinking of you and glad you are here. Are you getting a large tax refund?


scrgrl47  Nice update! It's great to have a place to share, ask, and comment. Kind of funny that on WIR we are anonymous, but know the others pretty well. 


seriousthistime Yea for having your first   in sight!


megaptera Congratulations to you too on having your 


minnesotapaintlady Good work on applying the PT job and bonus $$ 

[Jaguar]

Well I got the news today that the bank changed the rates for getting that banking fee taken off last month. It used to be $1,000 saved, then they changed it to $1,500 and now it's $2,000 saved. So I got some work cut out for me, but I ain't giving up I'm still saving.

I saved a wee bit to go to Ikea and get some textiles to freshen up my place.

[Jaguar]

Well onward and upward, I'm still saving.

Saving Funds	Goals	Current	% Saved	Woo Hoo
TV Fund	$510	$510	100%
Moving Fund	$1,300	$953.20	73.3%	?
Gateway Voyage	$4,890	$0	0%	?
Mattress Fund	$2,300	$0	0%	?
GRAND TOTAL	$9,000	$1,463.20	16.3%	?

Sugilite - 3/31/2015 - $1,463.20 - [NEW GOAL - $9,000]     =

[Jaguar]

My Goal amount keeps changing cause of the Canadian dollar, some of what I'm saving is for American dollar, and the exchange rate is killing me.

[snapdragon]

Update - snapdragon 4/01/15 ( $4365 / Goal $ 6500 )



Travel Fund - $ 4500 (currently $ 3332)

EF - $1500 (currently $ 760)

House/car - $ 500 ( currently $ 273)

I had nothing to update last month but April works fine. Hopefully I get something to the goal here soon.

[Saving4Norway]

Fund	2015 Goals	Last Month	This Month	% Met	Roses
Iceland Flight	4000	4000	4000	100%	Jan
Iceland Expenses	3000	1750	3000	100%	March
Vehicles	2000	2000	2000	100%	Jan
Harley Trip	2000	1000	2000	100%	April
Gifts&Donations	2000	500	500	25%
Palm Springs	2000	2000	2000	100%	Jan
Hike PCT	1000	1000	1000	100%	Jan
Cultural	1000	250	450	45%
Vacay Prop	1000	250	250	25%
Christmas	500	250	500	100%	March
Oleana	250	0	0	0%
Quilting	250	0	0	0%
Sisu (& sister?)	3000	2000	2000	67%
Home Improvement	5000	2500	2500	50%
TOTAL	27000	17500	20200	75%

Saving4Norway 4/2/15 $20,200 (Goal $27,000)

[Saving4Norway]

Happily puttering along the road to financial freedom...

[forwardwego]

UPDATE 4/3/2015 $3385 (goal $11378)

fund 2015	present	goal	% met	$$ needed
rental EF	600	5000	12	4400
homestead EF	1200	2000	60	800
vehicle EF	700	1000	70	300
tree removal	240	1200	20	960
truck tires	100	800	12	700
52 week challenge*	545	1378	39	833
totals	3385	11378	29	7993

*52 week challenge summary

1  2   3  4   5  6   7  8   9  10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51 52

52+51+26+21+40+50+49+24+47 +48+46+14+32+45=545

Another IBU (itty bitty update)   next week hope goal to add a nice big chunk to the tree acct 

Keep up the good work savers