forwardwego
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Joined: Dec 22, 2010 3:54:23 GMT -5
Posts: 1,400
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Post by forwardwego on Feb 5, 2017 19:53:25 GMT -5
WIR Saver Challenge....Who do you know elsewhere on the YMAM board, or in life, who could benefit from being a saver?? Invite them to join us. I'm headed off to issue an invitation right now.....
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seriousthistime
Junior Associate
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Post by seriousthistime on Feb 6, 2017 9:36:05 GMT -5
Excellent idea. I'm thinking...
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teachermom
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Post by teachermom on Feb 6, 2017 11:07:47 GMT -5
One thing I have really been enjoying this last few weeks is I finally get to teach Personal Finance at school. We are following the Dave Ramsey curriculum for high school students. The students really seem to be interested and the conversations are awesome!!! I only have about 40 kids total (split between 2 classes) but hey....40 kids that have the chance to start off in life debt free and on a path to be a millionaire! Wish I had learned some of this stuff back then! Sure would be where I am right now, student loans still killing me and not enough in my retirement or savings.
Teachermom
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TheHaitian
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Joined: Jul 27, 2014 19:39:10 GMT -5
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Post by TheHaitian on Feb 6, 2017 16:54:10 GMT -5
TheHaitian Welcome to another year of WIR Saving! You did a fine job last year of meeting some large financial challenges, and of course achieved your priceless accomplishment in january of welcoming your sweet little baby girl. Congrats on $5712 saved and 13.4% !! I am wondering why you hesitate to use your health FSA. Would you mind explaining more about the details of your health FSA?  My reluctance to use the HSA plan was a goal to also use it as a component to retirement down the line (both medical expenses and just plan life). I believe (if they don't mess it up by then) once I reach 59.5 I can withdraw it penalty free to use on medical expenses then or anything I want (also keeping the bills paid but will not need it after 59.5). Basically that money gets to grow taxes free like 401 estimate: $500/month over 30 years at 8% interest you have 745k $500/month over 30 years at 11% interest you have per Phil $1.4M So do I let it grow or use the money to pay down the medical bills we have right now!!! I paid 2 bills today totaling. $270 and that is the tip of the iceberg. I will have to reconsider my decision soon with all the medical bills starting to roll in. |
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forwardwego
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Joined: Dec 22, 2010 3:54:23 GMT -5
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Post by forwardwego on Feb 6, 2017 18:31:23 GMT -5
TheHaitian Welcome to another year of WIR Saving! You did a fine job last year of meeting some large financial challenges, and of course achieved your priceless accomplishment in january of welcoming your sweet little baby girl. Congrats on $5712 saved and 13.4% !! I am wondering why you hesitate to use your health FSA. Would you mind explaining more about the details of your health FSA? My reluctance to use the HSA plan was a goal to also use it as a component to retirement down the line (both medical expenses and just plan life). I believe (if they don't mess it up by then) once I reach 59.5 I can withdraw it penalty free to use on medical expenses then or anything I want (also keeping the bills paid but will not need it after 59.5). Basically that money gets to grow taxes free like 401 estimate: $500/month over 30 years at 8% interest you have 745k $500/month over 30 years at 11% interest you have per Phil $1.4M So do I let it grow or use the money to pay down the medical bills we have right now!!! I paid 2 bills today totaling. $270 and that is the tip of the iceberg. I will have to reconsider my decision soon with all the medical bills starting to roll in. I have had an FSA (flexible spending account) which is use it or lose it each year, but never had an HSA plan. That is a nice benefit no matter which way you choose to use it. That is such a new concept to me that I don't have any opinion to offer. Just the general approach I use when I feel torn... can you find a middle ground? Use some for paying medical now, and keep some toward the retirement years?? |
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sealy
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Post by sealy on Feb 6, 2017 21:36:25 GMT -5
thank you forward
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teachermom
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Joined: Dec 20, 2010 21:34:17 GMT -5
Posts: 660
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Post by teachermom on Feb 6, 2017 23:57:27 GMT -5
Update: Able to add another $200.....so updating again. | Savings 2017 | | Fund | Goals | Previous Bal | Feb 2017 | YTD | Spent | End Bal | % Met | | Emergency Fund - Minor | $1,000.00 | $0.00 | $900.00 | $900.00 | $0.00 | $900.00 | 90.00% | | Emergency Fund - Major | $20,000.00 | $0.00 | $24.66 | $24.66 | $0.00 | $24.66 | 0.12% | | Insurance - Deductible | $1,000.00 | $0.00 | $0.01 | $0.01 | $0.00 | $0.01 | 0.00% | | Roof | $4,000.00 | $0.00 | $10.80 | $10.80 | $0.00 | $10.80 | 0.27% | | Plumbing Updates | $3,000.00 | $0.00 | $0.10 | $0.10 | $0.00 | $0.10 | 0.00% | | Appliances | $3,000.00 | $0.00 | $0.05 | $0.05 | $0.00 | $0.05 | 0.00% | | Hardwood Floors | $3,000.00 | $0.00 | $0.04 | $0.04 | $0.00 | $0.04 | 0.00% | | Tires | $800.00 | $0.00 | $160.64 | $160.64 | $0.00 | $160.64 | 20.08% | | Car Maintenace | $1,000.00 | $0.00 | $300.75 | $300.75 | $0.00 | $300.75 | 30.08% | | Car Replacement | $30,000.00 | $0.00 | $0.05 | $0.05 | $0.00 | $0.05 | 0.00% | | Gifts | $1,200.00 | $0.00 | $200.40 | $200.40 | $0.00 | $200.40 | 16.70% | | Spring Break Trip 2017 | $500.00 | $0.00 | $500.00 | $500.00 | $0.00 | $500.00 | 100.00% | | Summer Trip 2017 | $500.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | 0.00% | | MN trip 2017 | $1,000.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | 0.00% | | Hawaii trip | $2,000.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | 0.00% | | Total Savings | $72,000.00 | $0.00 | $2,097.50 | $2,097.50 | $0.00 | $2,097.50 | 2.91% | |
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snapdragon
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Post by snapdragon on Feb 8, 2017 10:55:53 GMT -5
Snapdragon 02/08/17 --- $ 7928.96 / $ 10,000 -- update
Car/House $ 1543.27 / $1500  Savings $ 2633.89 / $4000 Travel $ 3751.80 / $4500 New Totals $ 7928.96 / $10,000 I got my first account topped off. I'm sure it will be adjusted in the future but for now I'm happy. Next in the crosshairs is my travel account. I REALLY want to go SOMEWHERE this year and I want the money to be able to do so and not worry about financing it. 
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forwardwego
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Joined: Dec 22, 2010 3:54:23 GMT -5
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Post by forwardwego on Feb 10, 2017 6:57:07 GMT -5
Update 2/10/2017 $14170 (Start $12165, Goal $32000) | 2017 FUND | Present | Goal | % Met | $$ Needed | | EF Bridge | 5300 | 10000 | 53 | 4700 | | Veh XF | 520 | 1500 | 34 | 980 | | Med XF | 520 | 1500 | 34 | 980 | | Rental Margin | 2040 | 10000 | 20 | 7960 | | DD invest/gift | 3830 | 5000 | 76 | 1170 | | Rusty J Boxer Pt2 | 1600 | 2000 | 80 | 400 | | Weekly Challenge* | 360 | 2000 | 18 | 1640 | | TOTALS | 14170 | 32000 | 44 | 17830 |
*$50 base + (sum of $12 thru $63) = $2000 | 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 | 53 | 54 | 55 | 56 | 57 | 58 | 59 | 60 | 61 | 62 | 63 |
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Happy Friday  |
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azucena
Junior Associate
Joined: Jan 17, 2011 13:23:14 GMT -5
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Post by azucena on Feb 10, 2017 9:03:25 GMT -5
2/6 daycare reimbursement of $417 for a total of $52,330
2/10 paycheck transfer of $100 for a total of $52,430
$3,478 of $15,000 goal by 3/31 |
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shanendoah
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Post by shanendoah on Feb 10, 2017 10:49:21 GMT -5
shanendoah: 2/10/2017 $60 (Goal: $480)
It's payday, so $20 automatically toward savings. Of course, I had to pull money out of savings earlier this week when I realized that one of my utility bills (which I had thought were all autopay on my credit card) was actually autopay on the checking account, and $100 I hadn't been thinking about was gone from the account.
I hate that $100 puts me in this state. I hate it. I have to remind myself, though, that this isn't the first time we've been there. When C and I were first married, he wouldn't spend $20 without checking with me to see if we could afford it. So we've been here. We've done that. I know I can do it again. I still hate it.
BUT I am super glad I had that little bit in savings to pull out. So that at least helps in the motivation to keep putting that bit in.
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Jaguar
Administrator
Fear does not stop death. It stops life.
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Post by Jaguar on Feb 10, 2017 11:43:21 GMT -5
You guessed it, they screwed up yet again, now they owe me money. The fucking damn shits. They called me this past Tuesday saying that because I paid so "early", it screwed up their paperwork. I didn't get most of the call cause it was noisy and a heavy accent. So I listened to part of it and then deleted it.
I just called them and all their agents are busy. I was told to call them back later on.
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Jaguar
Administrator
Fear does not stop death. It stops life.
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Post by Jaguar on Feb 10, 2017 12:10:37 GMT -5
I got a hold of them, now they are saying that them telling me to pay at the bank was a mistake that I should have sent the $252.67 directly to them. I just got told that my money went to tax dept, not to them. I was told I need to call the tax dept and get it sent over to them.
I told him I wasn't doing anything more and for him to fix it. One hand doesn't know what the other hand is doing down there.
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movinonup
Established Member
Joined: Feb 7, 2013 7:44:03 GMT -5
Posts: 318 
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Post by movinonup on Feb 10, 2017 18:26:07 GMT -5
movinonup 02/01/2017 $68.40 (Goal $25,325.95)
| Saved | Goal | % Saved | Periods Completed
| | Monthly Challenge | $10.00 | $780.00 | 1.282% | 1/12 | | Weekly Challenge | $49.00 | $1,378.00 | 3.556% | 1/52 | | Daily Challenge | $9.40 | $667.95 | 1.407% | 4/365 | | Skiing | $0 | $2,500.00 | 0% |
| | House Addition | $0 | $20,000.00 | 0% |
| | Total | $68.40 | $25,325.95 | 0.27% |
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Slow start. I'm pacing myself. -movinonup |
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sealy
Familiar Member
Joined: Dec 22, 2010 2:49:52 GMT -5
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Post by sealy on Feb 10, 2017 23:00:42 GMT -5
update
sealy 2/10/17 $10,000 goal $15,000
Im going to turtle this one now until I can pay my debt down. Planning on finishing race #2 on March. Then I plan to start race #3.
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seriousthistime
Junior Associate
Joined: Dec 22, 2010 20:27:07 GMT -5
Posts: 5,168
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Post by seriousthistime on Feb 11, 2017 14:33:46 GMT -5
2017 Savings
| 2017 Goal | Added | 2/11/2017 | % Saved | Roses | | Gifts | $ 2,600 | $100 | $300 | 11.5% |
| | Travel | $ 2,000 | $60 | $360 | 18.0% |
| | EF increase | $ 2,600 | $100 | $300 | 11.5% |
| | Weekly Savings | $ 2,078 | $78 | $234 | 11.3% |
| | Moving | $ 2,000 | $75 | $225 | 11.3% |
| | Sweep Fund | $ 2,600 | $243 | $448 | 17.2% |
| | Total | $13,878 | $656 | $1,867 | 13.5% |
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For me, here is the bad side of automatic saving: I feel like I'm not taking any action to achieve my goal. Here is the good side: the numbers show I am making progress. I guess I feel I am more aware of my finances when I actually move money into savings, instead of having it move without any action from me except to set it up initially. On the spending side, I now have just about all recurring payments except rent set up automatically (because paying the rent is actually a very convoluted process). For the few payments I can't, or haven't, set up automatically, they are semiannual payments, so for insurance and so forth. So I feel as if I'm a bit out of touch with my finances. Note, one of my goals is to set up a budget. I haven't done that yet. Maybe this weekend...
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finnime
Junior Associate
Be kind. Everyone you meet is fighting a great battle.
Joined: Dec 23, 2010 7:14:35 GMT -5
Posts: 8,139
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Post by finnime on Feb 11, 2017 15:02:04 GMT -5
Finnime - 2/11/2017 $85.47 [ $2,996.50 ]
| Saved | Goal | % Saved | Periods Completed
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| | Weekly Challenge | $40.00 | $1,378
| 2.90
| 06/52 | | Daily Dime Challenge | 26.80
| $954.20 | 2.81
| 40/365 | Penny Challenge
| 18.67
| $664.30
| 2.81
| 40/365
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| | Total EF | $85.47 | $2,996.50
| 2.85% |
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Keeping on keeping on, 40 days in. |
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sealy
Familiar Member
Joined: Dec 22, 2010 2:49:52 GMT -5
Posts: 956
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Post by sealy on Feb 12, 2017 22:06:13 GMT -5
52 Week Challenge | 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 | 52 |
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shanendoah
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Post by shanendoah on Feb 13, 2017 10:55:13 GMT -5
seriousthistime - I have the same problem. While I understand the benefits of set it and forget it savings, in general, I don't want my finances to be set it and forget it. 
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teachermom
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Joined: Dec 20, 2010 21:34:17 GMT -5
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Post by teachermom on Feb 13, 2017 23:42:49 GMT -5
seriousthistime & shanendoah - I agree with both of you.....it does help me save more because I forget about it and it just happens. That being said....I only have some of my goals autofunded....others I transfer myself. So I guess I do both!!  Teachermom
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azucena
Junior Associate
Joined: Jan 17, 2011 13:23:14 GMT -5
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Post by azucena on Feb 15, 2017 8:18:05 GMT -5
2/6 daycare reimbursement of $417 for a total of $52,330
2/10 paycheck transfer of $100 for a total of $52,430
$3,478 of $15,000 goal by 3/31
2/15 paycheck transfer of $435 for a total of $52,865
$3,913 of $15,000 goal by 3/31
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shopaholic814
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Post by shopaholic814 on Feb 15, 2017 14:25:17 GMT -5
Hi Savers. ForwardWeGo sent me a personal invite to join the group. At one point I tried it over here as well as the Racers group (some of you might remember me from years past) but I've totally fallen off the wagon. We have been plugging away at debt, I've started Sub teaching after being off work for most of last year, so things have been very tight financially.
We have some $ in savings that we will be using for 2 bathrooms this year, 1 will be built in the basement so we have one to use while we gut & remodel the current one this summer. What I need help with is only using this saved $$ for bathroom stuff. It is going to empty our savings to do both.
I'm at work now, so I'll figure out a tag line soon & post it by this weekend. I hope it is ok that I've crashed this party!!
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Jaguar
Administrator
Fear does not stop death. It stops life.
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Post by Jaguar on Feb 15, 2017 15:04:55 GMT -5
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seriousthistime
Junior Associate
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Post by seriousthistime on Feb 16, 2017 10:22:57 GMT -5
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nikiz628
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Post by nikiz628 on Feb 16, 2017 21:04:35 GMT -5
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TheHaitian
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Post by TheHaitian on Feb 16, 2017 21:18:23 GMT -5
I may be dropping out of the savings race!
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seriousthistime
Junior Associate
Joined: Dec 22, 2010 20:27:07 GMT -5
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Post by seriousthistime on Feb 16, 2017 21:36:01 GMT -5
TheHaitian, Why? What's going on?
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nikiz628
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Post by nikiz628 on Feb 17, 2017 10:48:31 GMT -5
I may be dropping out of the savings race! What happened?!? |
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TheHaitian
Senior Associate
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Post by TheHaitian on Feb 17, 2017 23:55:11 GMT -5
Bills, bills, bills!!!!
My share of the birth bills comes to about ~12k... and I am considering using HSA Account to pay for it.
So that is about ~2 years of contributions to pay it off, it is depressing to save money only to spend it right there.
So why be part of a saving group if really not going to save for the year, more so pay down debt.
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lund
Familiar Member
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Post by lund on Feb 18, 2017 5:20:34 GMT -5
Welcome back, Shopaholic!
Jaguar, The incompetence levels sometimes encountered are astoundingly impressive, and on top of that the demand that the wronged do the footwork....
They [beep] up should mean they put it right!
Haitian, when you have to use your savings for necessities, you restart them. And just imagine your life without any savings to use...
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