Women in Red SAVERS 2019

[Deleted]

Handing in there, but I'm getting the crap beat out of me.    Non-stop Murphy's to the tune of about 5K in the past couple months.  I think my only hope to get out of the hole I dug...AND to take a small vacation with the kids is to raid my Survival Fund.  The idea of doing that is making me a little ill though so I'm holding off for now while I process.

Fund	2019 Goal	Current	Needed	% Complete
401K	$19000	$10983	$8017	57.81%
2020 Roth	$7000	$2555	$4445	36.50%
Survival Fund	$6000	$6000	$0	100.00%
House Maint	$3000	$0	$3000	0.00%
College	$2400	$1400	$1000	58.33%
Pr. High School	$1000	$1000	$0	100.00%
Vacation	$1000	$0	$1000	0.00%
Christmas	$600	$81	$519	13.50%
Total	$40,000	$22019	$17,981	55.05%

Minnesotapaintlady $22019/$40,000 7/2/2019

[sealy]

Jul 2, 2019 13:05:22 GMT -5 debthaven said:

That's all wonderful news sealy ! Hopefully now that you've started doing those summer sessions, you'll be able to continue in future.

Thanks debthaven That’s my hope.

[seriousthistime]

Updates

Stars	Name	Amt. Saved	Goal	% Saved	Roses	Smilies
	azucena	$13,631	$25,000	54.5%
	bobosensei	$2,008	$18,750	10.7%
	chiver78	$216	$910	23.7%
	finnime [1]	$6,760	$24,500	27.6%
	finnime [2]	$2,500	$5,000	50.0%
	forwardwego	$14,365	$24,000	59.9%
	kindthatjingles	$1,000	$3,500	28.6%
	minnesotapaintlady	$22,019	$40,000	55.1%
	nikiz628	$5,612	$7,300	76.9%
	paynointerest	$39,300	$55,900	70.3%
	plugginaway22	$33,728	$36,000	93.7%
	Rukh O'Rorke	$0	$20,000
	Saving4Norway	$11,000	$18,101	60.8%
	sealy	$1,000	$25,000	4.0%
	seriousthistime	$19,878	$42,000	47.3%
	shanendoah [Q1]	$8,994	$300	2998.0%
	shanendoah [Q2]	$3,010	$3,020	99.7%
	snapdragon	$16,898	$18,750	90.1%
	teachermom	$32,558	$107,000	30.4%
	TheHaitian	$34,835	$60,000	58.1%
	tobinikui	$32,281	$105,658	30.6%
	trimatty471	$14,424	$14,424	100.0%
	trimatty471 [2]	$4,355	$672	15.4%

Great job, Savers!  Nice updates.  

Whenever I do the updates I think especially of the members who have started out with baby steps over the years, only to have a situation or two derail their efforts.  But they came back time after time to try again, dusted themselves off and set more realistic goals, or stayed with the same goals but renewed efforts to make them work.  I am thrilled to see you gain some traction in your Savings goals!  You are the true inspiration here.  Those of you who've tried and given up (maybe multiple times), then returned and succeeded, can you share some of your stories and motivations?  

I think of it as kind of like a diet.  Some of us have to try and fail repeatedly before something sticks and we make it work. 

[forwardwego]

Shoutouts Part 1 of 2:

Welcome aboard Rukh O'Rorke ! Good job setting your EF goal!! Looking forward to seeing that fund grow!!! 

sealy Good job holding steady with $1K saved, being the needed month ahead on mortgage and car payment, and securing summer session work to keep your momentum going! 

finnime Nice work growing your 2 goals by $3000 and $500. Cash flowing the gifts and travel is awesome. And nice work channeling the unexpected money into your goals without delay. I think unexpected funds can easily fall away, but being a Saver with a plan makes the difference. 

nikiz628 It's tough to have to tap into your EF, but thank goodness you have it and probably won't have to tap it again until after your DH gets settled in to his new job.  

shanendoah Kudos on achieving 99.7% of your 2nd quarter goal, and being waaaaaay ahead for the year.   
trimatty471 Congrats on selling your home. How is it going in your new place? Also congratulations on your lovely and $672 on the boards toward your next set of goals.     

minnesotapaintlady Very nicely done tipping the balance past the halfway point with over 55%, $22K, and 2 roses  

azucena Yay! for 60% to goal!! IMHO I would choose the option of a ROTH for you. As you noted prepaying the tuition is just a shift, and with $50K in savings why not let that replace the Highlander when the time comes and then pause to rebuild. My second choice would be for prepaying the mortgage, even though the rate is low, you get the most bang for prepayment bucks early in the loan like you are now. Are you leaning toward a plan?   

[forwardwego]

Shoutouts Part 2 of 2:

paynointerest Wow amazing progress for you advancing from 46% to 70.3%...yowza! and also noticed you've hit your goal 5.5 months early on your mortgage principle goal! How nice to be making great gains on both fronts. 

plugginaway22 OMG, looks like you will be next to earn the dancing banana! Congrats also on the good news of another grandbaby on the way!! I hope you had a good outcome on the dental emergency. I just "bought" one of those myself  . Re: the matching appliance dilemma, I am with you...can't see voluntarily replacing something that's working fine. Again nice job being at over 93% to goal. It's nice that you have your finances well controlled so that if you do decide to treat yourself to an appliance package you can. 

seriousthistime   Congrats on 47.3% to goal, and a probable 50% @ July 1. Also congrats on your newly renovated cash-flowed bathroom! I agree, it's pretty amazing watching our Savers who have pulled themselves up over time, through hardships and setbacks. They/we rewrite the script and try again. 

snapdragon Good 4 U, breaking into the 90% range and "pert near" $17K!! Your coastal getaway sounds very relaxing  .

teachermom   Nice work achieving $32558! So sorry you've been hit with the major repair bill for the sewer line. What is the status on that? You are one of the savers who has pushed through, and come back strong after adversities. This one won't be easy but you can do it! Looking forward to your new budget and plan 

TheHaitian Nice update for you! 58% overall and all line items at 50% and up!! Good job saving for DD's future. And good job turning lemons into lemonade...expensive wedding participation can be an opportunity to visit Niagara Falls 

tobinikui Great news on DH's job providing for next level retirement savings! Slow and steady may not win the sprint, but it wins marathons  . How's progress on the garage and drainage repairs? Looks like you have a good plan and logical order for reaching your goals 


If you had an update and I am missing you, kindly message me. 

[snapdragon]

Snapdragon 07-08-19 --- $ 17,090.64 / $ 18,750

Car/House $ 3501.38 / $3500   

Savings $ 4052.23 / $4000     

Travel $ 4255.33 / $4500

Property Taxes $ 1734.13 / $2250

Lasik $ 3547.57 / $ 4500


New Totals $ 17,090.64 / $18,750


Step by step I am getting closer. I know that I will be changing my savings totals next year but for now things are chugging along. 

Everyone keep up the good work. 

[sealy]

forwardwego thank you.

[paynointerest]

Hi all,

Have any of you poked your head over in the Market Talk thread? It looks like there is some suspicious posts to me.  To the point that I may remove my information from this thread.

[nikiz628]

Jul 9, 2019 21:44:18 GMT -5 paynointerest said:

Hi all,

Have any of you poked your head over in the Market Talk thread? It looks like there is some suspicious posts to me.  To the point that I may remove my information from this thread.

What do you mean? I am going to pop on over there now to see whats up. 

ETA: I am not seeing anything in Market Talk- maybe I am not looking in the right spot. 

[plugginaway22]

I looked and do not see anything, can you give more details?  Happy to say we bought a new refrigerator last night and spent some of this savings!

[paynointerest]

The posts by Aman AKA Ahamburger were strange.  But now that I look at the dates they were posted, it has been over a year since he or she was posting a lot so maybe that has passed.

[Rukh O'Rorke]

Jul 2, 2019 16:12:06 GMT -5 minnesotapaintlady said:

Handing in there, but I'm getting the crap beat out of me.    Non-stop Murphy's to the tune of about 5K in the past couple months.  I think my only hope to get out of the hole I dug...AND to take a small vacation with the kids is to raid my Survival Fund.  The idea of doing that is making me a little ill though so I'm holding off for now while I process.

Fund	2019 Goal	Current	Needed	% Complete
401K	$19000	$10983	$8017	57.81%
2020 Roth	$7000	$2555	$4445	36.50%
Survival Fund	$6000	$6000	$0	100.00%
House Maint	$3000	$0	$3000	0.00%
College	$2400	$1400	$1000	58.33%
Pr. High School	$1000	$1000	$0	100.00%
Vacation	$1000	$0	$1000	0.00%
Christmas	$600	$81	$519	13.50%
Total	$40,000	$22019	$17,981	55.05%

Minnesotapaintlady $22019/$40,000 7/2/2019

this is truly impressive MPL!

is survival fund your EF?

[Deleted]

Jul 11, 2019 11:13:01 GMT -5 Rukh O'Rorke said:

is survival fund your EF?

No.  I have a separate EF.  My child support of 15 years is ending in 11 months (maybe 10 depending on how ex interprets the paperwork).  Right before DS heads off to college!  This has been a source of anxiety for me for years since CS essentially pays my house payment and the closer it gets the more I'm having panic attacks.  I started a survival fund 3 years ago to buy me some time after it ends.  I figure every year I can save half of it (6K) buys me another year before I'm in trouble...in theory.  Not sure it will really work that way.  It certainly won't if I have to raid it ahead of time. 

I shouldn't take this trip in a couple weeks, but this could very well be my last opportunity for taking a road trip with older son before he either doesn't have time or doesn't want to go on a trip with his mom and brother.  Plus, they're both so damn excited about it. 

 

[Rukh O'Rorke]

Jul 11, 2019 11:55:27 GMT -5 minnesotapaintlady said:

Jul 11, 2019 11:13:01 GMT -5 Rukh O'Rorke said:

is survival fund your EF?

No.  I have a separate EF.  My child support of 15 years is ending in 11 months (maybe 10 depending on how ex interprets the paperwork).  Right before DS heads off to college!  This has been a source of anxiety for me for years since CS essentially pays my house payment and the closer it gets the more I'm having panic attacks.  I started a survival fund 3 years ago to buy me some time after it ends.  I figure every year I can save half of it (6K) buys me another year before I'm in trouble...in theory.  Not sure it will really work that way.  It certainly won't if I have to raid it ahead of time. 

I shouldn't take this trip in a couple weeks, but this could very well be my last opportunity for taking a road trip with older son before he either doesn't have time or doesn't want to go on a trip with his mom and brother.  Plus, they're both so damn excited about it. 

 

oh - I remember that was an issue for you. Time flies! it seemed like something so far off.

Definitely take the road trip! those events are so important!

If you are able to look at saving 40k, I'm assuming that you will be able to survive after the CS stops? Maybe just not save as much?

I am currently - to my utter shame I may add! - not maxing my 401k. Haven't done for maybe 3-4 years? You may need to think about reassessing what you are able to save, but you won't need to sell the house, right?

I had thought you were looking to try to pay off the mortgage before the CS stopped. Are you close on that score?

I will post my savings in the next post, so you can schadenfreude.   

[Rukh O'Rorke]

Rukh 07/11/2019 $200 (Goal = $20,000)


ha ha! I'm a 1%er!


1% to my savings goal

[Deleted]

Jul 11, 2019 12:18:07 GMT -5 Rukh O'Rorke said:

If you are able to look at saving 40k, I'm assuming that you will be able to survive after the CS stops? Maybe just not save as much?

Most definitely!  My plan is to cut retirement savings waaaay back.  I think I have enough now that I can coast on into retirement with fairly minimal contributions.  Problem is, we're also in the middle of the FAFSA years and I'd really like to keep AGI down until the end of 2021 at least.  Preferably 2022.  So, I have to make it 18-30 months post child support going away before I slash there.  If I can't, I can't and we'll deal, but that's the goal. 

House has 7.5 years left still.  I haven't really been paying much extra, I just refinanced it to a 15 year loan instead. 

[shanendoah]

shanendoah [Q3] $170 7/11/2019 (Goal: $2,020 9/30/2019)
[Q2]: $3,010 6/25/2019 (Goal: $3,020 6/30/2019)
[Q1]: $8,994 3/26/2019 (Goal: $300 3/31/2019)

Roommate has been interviewing/getting set up with employment agencies. Hopefully she'll have something soon. At the same time, she was an a$$ at her last job, and if companies are reaching out there for an informal reference, they are not going to hear good things. (And please note, all the stories I heard were from roommate's POV, trying to make herself out to be the "victim" of trans discrimination. But mostly, it was her creating a hostile work environment by assuming everyone else was always acting with bad intentions.)
So, we'll see. Luckily, she does warehouse type work, so hopefully it won't matter as much. But it does make me wonder if she'll have a job by August.

[debthaven]

The lawyer finally sent the papers for me and the 4 kids to sign. As of today we have all sent them back. The money should be released within 2 weeks.

DH and I have a very spendy vacation planned for this summer, for the first time in 4 years. (We HAVE gone on vacations for the past 3 summers, but they've been cheap/cash-flowed.)

At the last minute I agreed to take on an extra class for next semester, against my better judgement, because of this very spendy summer.

All this to say, some of the money I'll be getting will be going towards this summer vacation, which is an exceptionally expensive one for us. I'm not yet sure how much though. I have everything listed, but I haven't actually added it up yet. VERY unlike me, but I'm scared to see the total.

I won't be paying for flights though ... my amazing DH gifted me the flights.

[debthaven]

shanendoah of course you don't need to answer this, but are you willing to keep her with you indefinitely if she doesn't find work (or even if she does)? You are so generous, and definitely a much better friend than I am.

[azucena]

Jun 28, 2019 9:36:10 GMT -5 azucena said:

DH and I both got paid today.  We cashflowed the fridge which was $2000.  I also put $1000 extra towards mortgage principal.  Pay day deposit of $1271.

Azucena 6/28/19 $13,631 of $25,000 goal (60%)


This brings me to $50,000 sitting in our savings account; $25,000 was my annual savings goal.  Not sure it makes sense to keep more than that in the bank earning <1% interest.  I think I've reached a new financial level where I need to figure out what to do with "extra" money which is typically $2000/month.

Options:

• Funnel into Roth - in March I used part of my bonus to open and fully fund $5500 roth for DH; I don't have a Roth for myself, but I've been fully funding my 401k for the past 3 years
• Prepay kids private elementary tuition which is $5500/semester, but really this is just shifting from a monthly payment
• Continue to save since we will want to spend $15,000 for a used Highlander for DH when his bites the dust (currently 200k miles)
• prepay mortgage $260k at 4%

I'm due to post on the main board about this dilemma, but I know I'll need to gather much more info to get good answers.  Interested in what you savers think.

Payday update, and I guess I missed last payday update for a total increase of $2935.

Feels like funding a Roth for myself is the next step, so I'll look into what a minimum deposit needs to be and make sure we still qualify for Roth this year.  We must be getting close to the income max.  That should be the last part of "fully" funding retirement and will make me feel good about saving early and often.  I'm about halfway there already.

Then, I think I'll split the monthly extra 3 ways mortgage paydown, kids' savings, and spending (includes housekeeper and some minor house projects).  When we need to replace the Highlander, we'll just build savings back up in the months after.

Azucena 7/12/19 $16,566 of $25,000 goal (66%)

[azucena]

Jul 11, 2019 13:24:45 GMT -5 minnesotapaintlady said:

Jul 11, 2019 12:18:07 GMT -5 Rukh O'Rorke said:

If you are able to look at saving 40k, I'm assuming that you will be able to survive after the CS stops? Maybe just not save as much?

Most definitely!  My plan is to cut retirement savings waaaay back.  I think I have enough now that I can coast on into retirement with fairly minimal contributions.  Problem is, we're also in the middle of the FAFSA years and I'd really like to keep AGI down until the end of 2021 at least.  Preferably 2022.  So, I have to make it 18-30 months post child support going away before I slash there.  If I can't, I can't and we'll deal, but that's the goal. 

House has 7.5 years left still.  I haven't really been paying much extra, I just refinanced it to a 15 year loan instead. 

How many months post child support can you currently cover the mortgage with the $6k you have saved?

And do you mind sharing your income?  Saving $22k by mid-year is impressive since I know you're not high income.  You're right on track for your $40k goal.  I admire you!

[Deleted]

Jul 12, 2019 15:25:10 GMT -5 azucena said:

Jul 11, 2019 13:24:45 GMT -5 minnesotapaintlady said:

Most definitely!  My plan is to cut retirement savings waaaay back.  I think I have enough now that I can coast on into retirement with fairly minimal contributions.  Problem is, we're also in the middle of the FAFSA years and I'd really like to keep AGI down until the end of 2021 at least.  Preferably 2022.  So, I have to make it 18-30 months post child support going away before I slash there.  If I can't, I can't and we'll deal, but that's the goal. 

House has 7.5 years left still.  I haven't really been paying much extra, I just refinanced it to a 15 year loan instead. 

How many months post child support can you currently cover the mortgage with the $6k you have saved?

And do you mind sharing your income?  Saving $22k by mid-year is impressive since I know you're not high income.  You're right on track for your $40k goal.  I admire you!

Well, I just got a raise today.  A whopping $0.38/hour, so I'm up to $19.22 or 40K gross.  But I get $1800/month child support between the two kids and work OT and get bonuses, so I'm probably at 65-70K total. 

Child support is $1000/month which is going away, but then again, so is the kid.     Unfortunately his expenses won't all go away, but some will and I can switch to hitting up the college savings to cover him instead of child support. 

 

[seriousthistime]

Update

Account Name	Goal	Start	Amount Saved 7/12/19	Amt. Saved %	Roses
Gifts	$2,300	$335	$1,839	80.0%
Property Tax	$5,000	$2,984	$5,004	100.0%
Survival Fund	$6,000	$26	$1,244	20.7%
Household/Misc	$2,500	$1,075	$1,399	56.0%
Pet Care	$600	$130	$601	100.0%
Weekly Savings	$2,600	$0	$1,406	54.1%
Mortgage Cushion	$12,000	$4,200	$7,198	60.0%
Car Fund	$6,000	$0	$2,903	48.4%
Travel	$5,000	$0	$1,002	20.0%
Total	$42,000	$8,750	$22,596	53.8%

Seriousthistime, $22,596 7/12/19 (Goal $42,000)   


Weekly Savings Tracker: 

				Week 29	Week 30
Week 31	Week 32	Week 33	Week 34	Week 35	Week 36
Week 37	Week 38	Week 39	Week 40	Week 41	Week 42
Week 43	Week 44	Week 45	Week 46	Week 47	Week 48
Week 49	Week 50	Week 51	Week 52

Okay, I feel I'm back on track.  14 out of 26 paychecks is 53.8% of the year, and I'm there.  The goal for next time is to get another rose.   

I'm enjoying the shower reno.  If I actually had longer in the morning to spend in it, I'd like it even better but that's what weekends are for. Right?

This weekend I've got a massage scheduled, and may actually spend some time at the beach.  

[seriousthistime]

Good job to you too, forwardwego!  It's interesting how at different stages of our lives our ability to save and our need for savings change.  When we're young and the kids are little it can be so difficult to save real money but the need is real.  Then when they're out of the house things maybe can ease up a bit, with a few visits from Murphy, and we can save for retirement, but then once we're in retirement the money isn't flowing like it used to and Murphy still stops by for a visit, and it becomes more difficult to save again.   Well, you and I and everyone else here all know that it's two steps forward, (at least) one step back.  And just like that motto for the movie, Jaws (since it's summertime!), "just when you thought it was safe to go back into the water..."  Only ours is "just when you thought it was safe to go back into savings mode..."

[forwardwego]

GOAL	AMOUNT	STARTING	$$ TO DATE	% OF GOAL	$$ TO GO
JPPCU CUSHION	2000	350	1650	82	350
DD IRA	3000	1000	1600	53	1400
RENTAL MARGIN	12000	10700	6450	53	5550
PERIODIC EXPENSE	5000	1800	3380	67	1620
CASH STASH	2000	300	1120	56	880
TOTAL	24000	14150	14200	59	9800

UPDATE 7/13/2019 $14200 (begin $14150; goal $24,000) beginning amount corrected

baby step backwards, mostly due to rental home expenses 
still managed to stay ahead of beginning amount

       

[Rukh O'Rorke]

Jul 13, 2019 15:13:30 GMT -5 forwardwego said:

GOAL	AMOUNT	STARTING	$$ TO DATE	% OF GOAL	$$ TO GO
JPPCU CUSHION	2000	350	1650	82	350
DD IRA	3000	1000	1600	53	1400
RENTAL MARGIN	12000	10700	6450	53	5550
PERIODIC EXPENSE	5000	1800	3380	67	1620
CASH STASH	2000	300	1120	56	880
TOTAL	24000	14150	14200	59	9800

UPDATE 7/13/2019 $14200 (begin $14150; goal $24,000) beginning amount corrected

baby step backwards, mostly due to rental home expenses 
still managed to stay ahead of beginning amount

       

well - it does look like some of your savings buckets are sinking funds, so kinda expected to be used a bit?

Still looks like you are doing pretty good!

[forwardwego]

Jul 14, 2019 10:06:10 GMT -5 Rukh O'Rorke said:

Jul 13, 2019 15:13:30 GMT -5 forwardwego said:

GOAL	AMOUNT	STARTING	$$ TO DATE	% OF GOAL	$$ TO GO
JPPCU CUSHION	2000	350	1650	82	350
DD IRA	3000	1000	1600	53	1400
RENTAL MARGIN	12000	10700	6450	53	5550
PERIODIC EXPENSE	5000	1800	3380	67	1620
CASH STASH	2000	300	1120	56	880
TOTAL	24000	14150	14200	59	9800

UPDATE 7/13/2019 $14200 (begin $14150; goal $24,000) beginning amount corrected

baby step backwards, mostly due to rental home expenses 
still managed to stay ahead of beginning amount

       

well - it does look like some of your savings buckets are sinking funds, so kinda expected to be used a bit?

Still looks like you are doing pretty good!

Thanks for that perspective, makes me feel better 

[Saving4Norway]

Fund	2018 Goals	Last Month	This Month	% Met	Roses
TBD	1	0	0	0%
Norway 2020	4000	0	2000	50%
Deductibles	500	500	500	100%	Jan
Gifts&Donations	2000	1400	2000	100%	May
Palm Springs 2019	600	600	600	100%	Feb
Motorcycle Trips 2019	1000	0	1000	100%	April
Home Improvement	5000	2000	5000	100%	June
Cultural	2000	1400	2700	135%	March
Vacay Prop	500	500	500	100%	Jan
Hockey Season Tickets	1000	0	1000	100%	May
Christmas	500	0	0	0%
Adventures	1000	0	1000	100%	March
TOTAL	18101	6400	16300	90%

Saving4Norway 7/14/19 $16,300 (Goal $18,101)

[debthaven]

forwardwego 's post and Rukh O'Rorke 's answer made me feel better too. I'm not sure of forwardwego 's situation but we definitely have more rental RE than we can comfortably afford. It's a VERY forced savings plan.

Our regular rental costs (we are over-extended) and rental building new roof/renovations/portal, plus our own deferred maintenance and repairs after the subsidence on our home basically decimated my share of our savings from the rental we sold last June. (DH and I have yours/mine/our accounts.)

I heard from the lawyer again today. I should get that money within a week or so. But this time, I need to find a way to keep most of it in savings.  

I'm very glad I agreed to take on that extra class next semester. Last fall semester was hell for me (teaching 24-25h/week) but I'll be doing 2h less/week next semester. Plus I'll be physically present at my main job 2.5-3 days a week instead of 2. So it should be OK.

[debthaven]

I received the check today, and deposited it.

I need to figure out my share of the vacation costs to decide what I'll be spending and what I'll be saving.

ETA: I am again REALLY happy that I was offered and accepted that extra class.