Women in Red Savers 2016

[sealy]

thank you.

[Jaguar]

seriousthistime, are you going to start a 2017 savers thread, peeps are chomping at the bit for one ? I'll lock this one after you start the 2017 one. Save Away Savers !

[seriousthistime]

Happy New Year, Savers!

A new thread will be started for 2017 updates and musings/goal setting, etc.  

Jaguar, will you please keep this one open until the December updates are posted, the smilies are updated, and forwardwego gets the shoutouts done?  

I want everyone to have a few extra days to get in their final 2016 updates here, and then I will do the smilies.  I will do the smilies on the evening of January 3.  Please get your updates in this thread before then.

I have been chatting with forwardwego about 2017.  She is willing to continue to do shoutouts.  I feel I have not been as timely with the smilies as I promised this year.  I had a lot going on, but that's no excuse.  If someone would like to step forward and do the smilies, I am willing to relinquish the job.  If you can tolerate an erratic schedule for the smilies, I am willing to continue.  

[Jaguar]

Erratic Smiley Schedule is fine with me, I'm not posting my first 2017 Update until January 31, 2017.

[sealy]

erratic is good for me too.

[sealy]

Im fighting to keep my savings.

[seriousthistime]

Final update for 2016

	Goal	Added	12/30/2016	% Saved
Travel	$1,500	$60	$2,634	175.6%
Moving fund	$1,500	$0	$1,616	107.7%
Weekly Savings	$2,078	$0	$2,150	103.5%
Total	$5,078	$60	$6,400	126.0%

Seriousthistime, $6,400, 12/30/2016 (Goal $5,078)


2016 was a year of change.  I revised my savings goals mid-year.  I no longer needed a pet care savings account so that need was revised out in about August.  The need for a moving fund became a reality, and while it didn't cover the entire cost of moving, it did help to have something available. I'll be moving again in 2017, but it will be local and much less expensive. So I will start a new moving fund for 2017.  


Travel is an ongoing need.  I'm fortunate that I now live in a place that people want to visit, so more people will be coming to me.  But that also means more meals out with visitors, more groceries/drinks to have on hand, and more driving.  I'll also take a trip or two.  So I will start a new travel/visitor fund for 2017.  


Weekly savings is critical to my mental health. I treat it as a bit of a slush fund.  I dip into it for things that have truly become needs and not just wants.  This year I deposited the highest and lowest amount each paycheck (so $1 plus $52 for the first two weeks of the year, $2 plus $51 for the following two weeks, and so on).  That meant my deposit into weekly savings was always $53 every two weeks.  I added $25 to that, making it $78 every two weeks.  I'm still trying to decide whether to tweak that for 2017 or leave it as is.  I like the forwardwego method, where she chooses an amount from $1 to $52 that she has not already chosen, and deposits that amount into weekly savings.  I'm wondering if that would make me save more, or less.  I'm also wondering whether it would be wise to sweep everything left in my checking, the night before a payday, into a separate slush fund. And start each payday with $0.  Thoughts? 


My saving is automated.  Every paycheck I have a certain amount transferred into ten different savings accounts.  Some are very short term, like rent.  I have half my rent saved with every paycheck, and transferred to a checking account that I use only for rent.  I have set aside money for gifts, which I use for gifts and donations throughout the year.  I pay life insurance premiums twice a year. I deposit a set amount into a separate savings account for that, so I have the funds available without having to scramble. 


I also put a set amount of money into my EF every paycheck.  


And i max out my 401k contributions (regular and catch-up) every year.


Obviously I am not tracking all my savings accounts here on the Savers thread.  I am trying to decide which savings accounts to track in the Savers 2017 thread. 

Happy New Year, Savers!

[megaptera]

STILL no savings goals yet, since we're still flying through our current savings.  House progress is coming along, but I hate to guess when it will be finished. Once we move into it, and sell the current place, I can set some definite goals. We are going to try to max retirement contributions again this year.

We just need to get through the next few months.

Happy New Year everyone, and good luck with all goals!

ETA: Doh, I meant to post this in the new 2017 thread. Heading over there now...

[lund]

Serious, I like your budgeting! It is evolving according to your needs and plans, and including both fun (like travel and visitors) and necessities (like rent), later spending (the move), a maxed 401(k) (including the catch-up!), automated savings, and a growing the EF, it sounds very good indeed.

The only thing that I really can comment on is that you never mention a Roth IRA...

Starting each payday with 0 might reduce any feelings of "there is money, I can spend it" if you should happen to suffer from them. If you don't, it might not make any big difference. But you could try since it is free.

(Slight soapbox warning: I think that it is very prudent and wise to let the EF grow over time, since it may be more difficult for a person closer to retirement to find new employment, and this may be coming with lower salary. At about the same time, age makes the risk of family emergencies with old relatives increase for many.
In case of reaching retirement as planned, part of it could be used as a bridge until payments start. Some of it, obviously, should remain as EF since a retiree also should have one.)

[8 Bit WWBG]

...:::"I know we have talked about it a bit but I still don't get it. I would be so thrilled if my wife made 5 times what I made...":::...

Yeah, but would you be thrilled if she also thought she was entitled to spend more freely as a result?  I guess it depends on whether you'd compromised a good base.  If you were happy with what was being saved, then it doesn't matter if the rest gets spent.  But if she didn't want to save at the level you wanted to because she'd rather travel and shop every weekend, it would probably grate on you.

...:::"...since it may be more difficult for a person closer to retirement to find new employment...":::...

I'm starting to worry I need to recalculate my plans based on being out of the workforce earlier than I anticipated.  I've watched two people (above 55) close to me lose very high paying jobs (both through reasons beyond their control) and have not found anything else.  I know we all hope on being able to choose the time we retire, but that might not be the case.

 

[TheHaitian]

Jan 2, 2017 17:42:07 GMT -5 8 Bit WWBG said:

...:::"I know we have talked about it a bit but I still don't get it. I would be so thrilled if my wife made 5 times what I made...":::...

Yeah, but would you be thrilled if she also thought she was entitled to spend more freely as a result?  I guess it depends on whether you'd compromised a good base.  If you were happy with what was being saved, then it doesn't matter if the rest gets spent.  But if she didn't want to save at the level you wanted to because she'd rather travel and shop every weekend, it would probably grate on you.

There is always that big IF.... in our case I am less and less concerned about my wife spending as our income increases because I have learned the following:
- she hates credit card debt
- she will not go into debt to satisfy her spending

So instead of fighting about savings; I have made sure savings is taking out of paychecks before it even hits our account. And I realized I am also less stress about spending as long as :
- major savings markers are being hit (retirement and what not).
- bills are paid
- overall debt is still going down... maybe not as fast as I would like, but still going down.

I have learned to reach my YM goals without being overly YM. You can't win it all, I am satisfied with winning "some". Also her spending sometimes indirectly benefits me

...:::"...since it may be more difficult for a person closer to retirement to find new employment...":::...

I'm starting to worry I need to recalculate my plans based on being out of the workforce earlier than I anticipated.  I've watched two people (above 55) close to me lose very high paying jobs (both through reasons beyond their control) and have not found anything else.  I know we all hope on being able to choose the time we retire, but that might not be the case.

 

I would look into it because in a recent money article I read that if you were let go by your job at 55 and could not find one, you could start withdrawing from your 401k or retirement account penalty free.

Another major motivator why I want us to be financially "covered" by 50 and not have to worry about losing our jobs in the golden age. I have seen that happen to way too many family members:
- it takes longer to find a job.
- the new job is several level below the old Job if they find a job.

[snapdragon]

Final for 2016 --


Snapdragon 01/03/17 --- $ 6626.91 / $ 10,000 -- update

Car/House $ 1143.19 / $1500

Savings $ 2182.06 / $4000

Travel $ 3301.66 / $4500

New Totals $ 6626.91 / $10,000

I also put this over on the 2017 thread so I would not lose my numbers. 

[Jaguar]

Onward and upward 2017 New Saving Year here I am, WOO HOO!

Saving Funds	Goals	Current	% Saved	Woo Hoo
Gateway Voyage CDs	$705.00	$705.00	100%
Moving Fund	$2,300	$0	0.00%	?
Apple Air 2	$1,275	$0	0.00%	?
Moving Fund 2	$1,500	$0	0.00%	?
GRAND TOTAL	$5,780	$705.00	12.2%	?

Jaguar - 3/1/2017 - $705 - [NEW GOAL - $5780] =


This saving session is for my moving out fund. I wanted to get on the books for 2017 and you'll notice that the trip is off, yeah moving is way more important. The CDs cost me more than I planned, but I had the money so I have them now. I had to make adult decisions about saving for the trip, so having and doing the CDs will help me with that.

[seriousthistime]

Updates!

	Stars	Name	Amt. Saved	Goal	% Saved	Roses	Smilies
1		azucena	$48,873	$50,000	97.7%
2		bankergurl	$18,253	$12,000	152.1%
3		forwardwego	$21,877	$24,977	87.6%
4		Jaguar	$705	$5,780	12.2%
5		megaptera	$13,445	$19,500	69.0%
6		minnesota paintlady	$28,025	$26,750	104.8%
7		movinonup	$10,900	$24,830	43.9%
8		nodebt4	$6,441	$6,500	99.0%
9		Ombud	$5,616	$5,500	102.1%
10		Saving4Norway	$20,000	$20,000	100.0%
11		scrgrl47	$24,069	$43,050	55.9%
12		seriousthistime	$6,400	$5,078	126.0%
13		sealy	$5,000	$15,000	33.4%
14		snapdragon	$6,627	$10,000	66.3%
15		teachermom	$6,313	$15,100	41.8%
16		TheHaitian	$49,427	$41,500	119.1%
17		tobinikui	$4,158	$17,170	24.2%

[seriousthistime]

forwardwego will be doing the shoutouts here, and then this thread will be locked.  For anyone who posted their 2017 goals here, please transfer them over to the 2017 thread if you haven't yet done it.

Happy 2017, Savers!  See you on the new thread!

[forwardwego]

Shoutouts Part 1 of 2

Jaguar So good that the "extra money" was not an overpayment, but actually yours. 2017 is a nice fresh start for you. Congratulations on your Gateway Voyage CD   . And kudos to you for establishing the moving out fund as your next priority 


sealy You did a good job of coming on strong in the final month of 2016. Congratulations on over 33% saved   . Now life has dealt a heavy blow to you and your family. We are here for you, and will be here for you in 2017 as you cope and move forward step-by-step    


tobinikui You have also had unforeseeable events. Congratulations on enduring and almost earning your 25%   How is your little baby girl?


azucena Congratulations on your hard work and career advancements in 2016, and on translating that into a very fine house down payment savings    (Good job avoiding "lifestyle creep")!


seriousthistime Congratulations on your completed bouquet      . 2016 was a year of big moves and changes for you too. I am so sorry you lost your furry love. And am so happy for you that you have your career change and general relocation accomplished. It seems like you have some good general plans for 2017 savings. I am interested to see how the "pre-payday checking account sweep" method works. I do love the weekly challenge. I'm kicking up the amount this year, but will use the same "maximum tackle" approach. I love knocking out the big amounts, but also knowing in a tough week I can still manage one of the smaller amounts. It feels challenging each and every week. And similar to you, weekly savings is key to my mental health. 


TheHaitian You have also had to be very resilient in 2016. Congratulations on surpassing your overall goal and 3 of your 4 individual goals. And though a good portion of your savings is "spent", a lot was accomplished and you are ready to reset and tweak things for 2017 as life unfolds.


movinonup ....

[movinonup]

Jan 4, 2017 17:32:47 GMT -5 forwardwego said:

movinonup ....

Nice!  I left you at a loss for words.

-movinonup

[forwardwego]

Shoutouts Part 2 of 2:

 ( Good one! hahahahahahahahaha   )

Our favorite saving fellow movinonup ...Good job for you getting thisclose to 44% total. And you accomplished well beyond your original skiing goal! Nice work on your retirement contributions, and already having your plan made for 2017 savings. You (and several other of the WIR Savers) set a very good example of setting your goals to your unique situation, and instead of being upset by missing a goal, using it as information and challenge for the next year. Nice work on your saving challenges. 



Saving4Norway Congratulations on coming in exactly on target!   Looking forward to seeing if you get your summer school program on Oslo!!!



megaptera Congratulations on achieving 69% of your goal. I'm glad you are staying involved here while you work on finishing your new house. I'm imagining it feels like treading water when you'd really like to swim. Hang in there. You've got some of the biggest parts behind you. 2017 is the year you move in and level off. And I bet you'll really enjoy your new home. 


snapdragon Good job with your final update achieving $1300 more, and a 13% climb overall. And it looks like a smooth transition for you already into savings 2017 


Overview:


minnesotapaintlady  TheHaitian  seriousthistime  bankergurl  Ombud  Saving4Norway were all six winners of the very special dancing banana    (With honorable mention going to azucena and nodebt42 who achieved in the high 90% range.) 

And WIR Savers: As a group per the final 2016 smiley update we saved a total of $276,129...  which is 80.5% of our goals. I am so happy for and proud of this group.  


Special thank you shoutout to those who visit to encourage and share advice and experience. I apologize for any oversights. Please all pat yourselves on the back for being a saver in 2016, and c'mon over to 2017 Savers Thread...more is merrier. 

[Jaguar]

And that concludes the end of 2016, this thread will now be locked.

[8 Bit WWBG]

...:::"So instead of fighting about savings; I have made sure savings is taking out of paychecks before it even hits our account.:::...

That is definitely an effective way to save.  Out of sight and all.  You guys run your accounts differently than we do.  I've already hit my monthly savings goal and might be able to double down later this month.  DW has probably spent as much as I've saved.  Hers is hers to do what she wants.  It makes it difficult to plan long term big projects like renovations, but I guess when they are important enough, a plan will formulate.

...:::"...the new job is several level below the old Job if they find a job.":::...

Yes!  Both my first hand acquaintances were very high up leaders in their organizations.  But after 55, and even more so after 65, most companies know you just want a few more years to get to retirement before you are gone.  If the company is looking for someone who will see through some major multi-year initiative, then it isn't going to be you they choose!

Oh and both these individuals are superbly networked.  Hundreds of glowing references, gorgeous LinkedIn profiles, lots of contacts...  One even looks 5+ years younger than he is.

Companies are slick though.  They can't ask you how old you are, but they can ask what year you graduated high school.