Women in Red SAVERS 2019

[snapdragon]

Snapdragon 01-09-19 --- $ 15,652.37 / $ 18,700

Car/House $ 3500.52 / $3500  

Savings $ 4035.50 / $4000  

Travel $ 3784.34 / $4500

Property Taxes $ 1755.86 / $2200

Lasik $ 2576.15 / $ 4500


New Totals $ 15,652.37 / $18,700


I am going to be working on getting Lasik done so I can have the procedure in 2020. I would really like to be basically done with glasses for the next 25+ years if possible. Than I will work on Travel for a long trip in possibly 2021 or 2022. If those 2 things happen than I am going to work on upping my savings rate to 3-6 months just in savings. It is so relaxing to see the money in the bank in case something occurs. 

[shanendoah]

shanendoah[Q1]: $100 1/10/2019 (Goal: $300 3/31/2019)

Apparently, when I was setting up my auto-transfers to savings on paycheck days, I managed to also do a one time transfer on that day to savings. That puts me $50 ahead. I'm keeping it. I mean, I can certainly manage to keep our housing spending down to $10,800 instead of $10,850 over the next few months.

[trimatty471]

Trimatty 01/11/2019 $4,703.31 (Goal = $14,424.00)

2019     Goal Current     Needed Complete (%) Moving Expense 3,500.00 3,000.00 500.00 85.71 Vacation 2,500.00 1,000.00 1,000.00 40.00 Sinking Fund 2,200.00 703.31 703.31 31.97 Holiday 1,500.00 0.00 0.00 0.00 Emergency 4,724.00 0.00 0.00 0.00 Total $14,424.00 $4,703.31 $9,720.69 32.61 I made some slight revisions.  Because I have completed my 2018 goals in November, I was able to start on my 2019 goals.  AI had some funds earmarked for home maintenance and repairs.  This is now appearing in the current moving expense column.  My ultimate objective is  to replenish my saving accounts so that I can resume pursuing financial independence through investing.

[Deleted]

Jan 9, 2019 17:30:40 GMT -5 snapdragon said:

Snapdragon 01-09-19 --- $ 15,652.37 / $ 18,700

Car/House $ 3500.52 / $3500  

Savings $ 4035.50 / $4000  

Travel $ 3784.34 / $4500

Property Taxes $ 1755.86 / $2200

Lasik $ 2576.15 / $ 4500


New Totals $ 15,652.37 / $18,700


I am going to be working on getting Lasik done so I can have the procedure in 2020. I would really like to be basically done with glasses for the next 25+ years if possible. Than I will work on Travel for a long trip in possibly 2021 or 2022. If those 2 things happen than I am going to work on upping my savings rate to 3-6 months just in savings. It is so relaxing to see the money in the bank in case something occurs

Do you have access to an FSA or HSA for the Lasik?  I had an HSA I used to pay for it when I had it done in 2011 so it was nice getting it done with pre-tax dollars.

[snapdragon]

Jan 11, 2019 15:19:26 GMT -5 @aj said:

Jan 9, 2019 17:30:40 GMT -5 snapdragon said:

Snapdragon 01-09-19 --- $ 15,652.37 / $ 18,700

Car/House $ 3500.52 / $3500  

Savings $ 4035.50 / $4000  

Travel $ 3784.34 / $4500

Property Taxes $ 1755.86 / $2200

Lasik $ 2576.15 / $ 4500


New Totals $ 15,652.37 / $18,700


I am going to be working on getting Lasik done so I can have the procedure in 2020. I would really like to be basically done with glasses for the next 25+ years if possible. Than I will work on Travel for a long trip in possibly 2021 or 2022. If those 2 things happen than I am going to work on upping my savings rate to 3-6 months just in savings. It is so relaxing to see the money in the bank in case something occurs

Do you have access to an FSA or HSA for the Lasik?  I had an HSA I used to pay for it when I had it done in 2011 so it was nice getting it done with pre-tax dollars.

I have a HSA but any money is put in after taxes which is how my workplace set it up. I have asked and as it is a sm/med size company I am not going to argue with them about it. They put money in 4 times a year and I use that for my dental or eye care/glasses.

[tobinikui]

Hi all! It's good to see so many familiar "faces". I need to post numbers & goals for 2019 still, but I AM here.

Today our 4.5 yo is having his tonsils & adenoids removed, and next Monday, DH starts his new job. (That he initially turned down, and then they came back to ask him again!) So, lots of moving pieces right now. (Are there ever not?)

Our savings numbers will jump up significantly with his new job, but there are starting expenditures (dress suits, parking fees, more drycleaning, etc) to contend with at the moment.

Additionally, my dad has offered us his services to redo our bathroom. We did have it planned for this year, just not quite yet! But, with his free labor, we are going ahead and doing it now, before we lose him to outdoor projects in the spring again. It will make that bathroom so much more useful, and less of a creepy hole.

Oh, and the NYS inspection on our car yesterday? Turned into rear brakes, rotors, an alignment, an oil change, and filter replacements. *sigh* On the plus side, the guy said that the car is in great shape overall, and should last us another 100,000 miles, which made the repair bill a teensy bit easier to stomach.

I am hoping to sit down and post my numbers later today, once we get back & settled following surgery.

I'm happy to be back at this! And am very glad to have company for the ride. 🤩

[paynointerest]

Update!

Pay-no-interest:  $3,850 (Goal: $49,200.00)

	Goal	Saved	% of goal
My 403b	$19,000	0	0%
457b	$9,000	0	0%
Savings Acct	$3,000	$3000	100%
Taxable Invest Acct	$5,000	$300	6%
Property Taxes	$4,200	$550	13%
DH 403b	$10,000	$0	0%
Totals	$49,200	$3,850	8%

After paying all of my bills, I had some extra money left from my December 31 paycheck that I decided to put towards my savings account.  Any extra money I have left over each month (after contributing to retirement accounts) will go to my savings account until that goal is met, then I'll work toward meeting my property tax goals.

[chiver78]

I definitely forgot to play cards last weekend. will hit that this Saturday for this week and last. keep up the great work, everyone

[Deleted]

I'm trying to decide whether to join this year or not.  Last year about killed me.    I'm trying to keep my AGI low with increased 401K contributions (lookback years for DS's college), while still saving a lot outside of retirement accounts.  The combo is tough!   Something needs to give here.

[seriousthistime]

	Goal	Start	Amt. Saved 1/11/19	Amt. Saved %	Roses
Gifts	$2,300	$335	$434	18.9%
Property Tax	$5,000	$2,984	$3,184	63.7%
Survival Fund	$6,000	$26	$526	8.8%
Household/Misc	$2,500	$1,075	$1,110	44.4%
Pet Care	$600	$130	$130	22.5%
Weekly Savings	$2,600	$0	$53	1.9%
Mortgage Cushion	$12,000	$4,200	$4,200	35%
Car Fund	$6,000	$0	$0	00.0%
Travel	$5,000	$0	$0	00.0%
Total	$42,000	$8,750	$9,637	22.9%

Seriousthistime, $9,637, 1/11/19 (Goal $42,000)


Weekly Savings Tracker: 

	Week 2	Week 3	Week 4	Week 5	Week 6
Week 7	Week 8	Week 9	Week 10	Week 11	Week 12
Week 13	Week 14	Week 15	Week 16	Week 17	Week 18
Week 19	Week 20	Week 21	Week 22	Week 23	Week 24
Week 25	Week 26	Week 27	Week 28	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

[seriousthistime]

Jan 21, 2019 10:02:10 GMT -5 minnesotapaintlady said:

I'm trying to decide whether to join this year or not.  Last year about killed me.    I'm trying to keep my AGI low with increased 401K contributions (lookback years for DS's college), while still saving a lot outside of retirement accounts.  The combo is tough!   Something needs to give here.

Maybe just focus on the immediate/short-term savings needs, considering your increased 401K contributions are for long-term needs?

[plugginaway22]

I am still thinking about what my goals are!  We saved more than I thought I could last year due to increased bonuses but that is an unknown.  Will probably shoot for $1000 per month.  Also need to simplify our set-up.  We have a credit union, a local brick bank, and the on-line savings that earns more interest.  I am also conflicted about how much to keep as 'savings' or 'emergency fund' and how much to start investing in a taxable account, which we haven't done yet.

[azucena]

I won't truly nail down my goals until end of Feb when I know my bonus amount. 
Bonus guess $16,000

• $6000 school fund
• $5000 Roth IRA
• $5000 mortgage principal

This year, I need to develop a longer term plan because I feel like I'm reaching the tipping point ($50,000) of where we have too much (if that's a real thing) in cash.  I also need to sit down with DH and figure out what he's thinking.  After that I should get brave and post on the main board for advice.

So far I'm thinking this is the 2019 plan:

Continue (probably won't track here as these are really on autopilot)
1. Max 401k for the third time: $19,000
2. DH's 401k: $1500
        his fees are pretty high compared to mine, but it's important for him to have his own account

2019 savings goal:
3. Savings: $20,000
4. Open Roth IRA: $5,000 (we're probably closing in on income max, but haven't started this yet)
    these two combined are the $25,000 that I was shooting for last year but didn't quite make since we chose to do a Disney cruise
    this feels like a stretch goal when I consider all of the other pieces, but stretching helps me from needless spending

House goals:
5. Pay down $5000 in mortgage principal
6. Invest $4000 in improvements
     - new flooring in kids bedrooms ($3500)
     - new vanity and medicine cabinet in kids bathroom ($500)
     - new closet inserts in kids closets ($150)

Charity goals:
7. $6000 pledge to new school fund
8. continue $500 compassion child sponsorship
9. increase church giving from $150 to $200/month

Azucena $0 of $25,000 goal as of 1/22/19

[nikiz628]

UPDATE 1/22

Jan 7, 2019 10:09:23 GMT -5 nikiz628 said:

Jan 3, 2019 0:20:32 GMT -5 nikiz628 said:

2019 Savings	START	CURRENT	GOAL	STILL NEEDED
Emergency Fund	$2,091.03	$2,332.68	$4,500.00	$2,167.32
DS1's Savings	$1,750.51	$1,750.51	$2,000.00	$249.49
DS2's Savings	$576.65	$576.65	$800.00	$223.35
TOTALS	$4,418.19	$4659.84	$7,300.00	$2,881.81

NikiZ628 1/22/19 $4659.84 (Goal $7,300 WIRS1)

[forwardwego]

Jan 21, 2019 10:23:52 GMT -5 seriousthistime said:

Jan 21, 2019 10:02:10 GMT -5 minnesotapaintlady said:

I'm trying to decide whether to join this year or not.  Last year about killed me.    I'm trying to keep my AGI low with increased 401K contributions (lookback years for DS's college), while still saving a lot outside of retirement accounts.  The combo is tough!   Something needs to give here.

Maybe just focus on the immediate/short-term savings needs, considering your increased 401K contributions are for long-term needs?

minnesotapaintlady Last year was challenging for you, and you finished strong in spite of unforeseen circumstance. I think your being a WIR Saver helped. Your means, strategy, and purpose have shifted. I'm kind of in a similar situation of needing a revamped program, which I haven't figured out yet. I think I'm going to post goals that are general/broad, and then will do a lot of refining 'til I have a plan and method that feel like they function. I'm glad you posted about your doubts, and hope you'll be joining.

[paynointerest]

Update!

Pay-no-interest:  $5,150 (Goal: $49,200.00)

	Goal	Saved	% of goal
My 403b	$19,000	0	0%
457b	$9,000	0	0%
Savings Acct	$3,000	$3000	100%
Taxable Invest Acct	$5,000	$300	6%
Property Taxes	$4,200	$1850	44%
DH 403b	$10,000	$0	0%
Totals	$49,200	$5,150	10%

I still had some extra money left from my December 31 paycheck that I decided to put towards my property taxes I'll pay in 2019.  Any extra money I have left over each month (after contributing to retirement accounts) will go to property taxes until that goal is met.

[chiver78]

I need to sanity check myself, but I'm pretty sure I have now missed two weeks b/c I don't know what day it is. oops.  I will update either tonight or tomorrow, making myself current on the cards and with an accurate total. 

good news: 
-today, I signed up for the 401k here at the new job. they match the first 4%, so that's what I picked for now. I will up that as I pay stuff off. priorities! but, I don't want to miss out on the match, either. I don't want to get used to the paycheck without the contributions, either, so get enrolled as soon as it's available. I may get a check or two before the enrollment hits, but that's okay. I have places for that "overage" to go. 

-I got my last paycheck from the train wreck place today. I thought I only had 1 vacation day to pay out, but that check was almost $500 more than the previous one. that will be going straight to CC debt* as there is a card that has about $1100 left on a BT that has reset to 23%. 

-I was pleasantly surprised Wed. night when I went back to my hometown for a wake. My mom goes "we owe you 18...." and I was like "18 what?" she goes "18, $1800?" and I'm all "you do? okay! " bc honestly I'd pretty much written it off, it was from so long ago. so, what she told me was that she figured it had been long enough, that she was going to make it a round number and call it interest. and then she handed me a check that she said would be the first of four, for $500. idk whether it's going to be four weeks, or four months, since their mortgage is now paid off. but, all of that $2k will be going straight to CC debt*.

* the asterisk is because for the moment, I will be using that $1k as a buffer to carry me through the transition from old job's pay schedule to the new job's schedule. also important to note is the first paycheck here, 2/1, will be a live check that I won't be able to deposit until I get home on 2/6 (2/7 for business date). as soon as that check gets deposited, I will pay off that $1100 BT balance and start on the next obnoxious interest rate. 

[seriousthistime]

That really IS good news, chiver78!

[shanendoah]

shanendoah[Q1]: $150 1/25/2019 (Goal: $300 3/31/2019)

It is payday, the day $50 gets auto transferred to savings.
We also just got a couple more refund checks - one from escrow because we got a larger lender credit than was on the original paperwork, and then the homeowners insurance refund from the old house. Those two things are a little over $1500. Since I think we're going to be getting a $2000 couch from CostCo, they cover most of that. And we just got an estimate for the work we want done on the house that is just under $3k. And the furnace is being serviced next week. And then we need to make a decision on our water heater. But once we're done with that, I should be able to put a few thousand over into long term savings.

Of course, I managed to do significant body damage to the car last week, and we'll want to get that fixed. Luckily, I didn't hurt anything other than the body, even miraculously missed the headlight, but body work is never cheap. We'll likely to an insurance claim on that. I have to double check what our deductible is, though.

[forwardwego]

So now that DH and I finally have a fully funded EF, is there anyway/anywhere to get a little bit of earnings on that? 


Poked around & found this ranking of 15 best online savings accounts. Can anyone comment on any of the banks in this article?

Also, can someone please teach me how to make a "prettier" link?
ETA: Thanks finnime  

[seriousthistime]

Update

Account Name	Goal	Start	Amt. Saved 1/25/19	Amt. Saved %	Roses
Gifts	$2,300	$335	$534	23.2%
Property Tax	$5,000	$2,984	$3,384	67.7%
Survival Fund	$6,000	$26	$526	8.8%
Household/Misc	$2,500	$1,075	$1,145	45.8%
Pet Care	$600	$130	$130	22.5%
Weekly Savings	$2,600	$0	$153	5.9%
Mortgage Cushion	$12,000	$4,200	$4,700	39.2%
Car Fund	$6,000	$0	$500	8.3%
Travel	$5,000	$0	$400	8.0%
Total	$42,000	$8,750	$11,472	27.3%

Seriousthistime, $11,472, 1/25/19 (Goal $42,000)


Weekly Savings Tracker: 

			Week 4	Week 5	Week 6
Week 7	Week 8	Week 9	Week 10	Week 11	Week 12
Week 13	Week 14	Week 15	Week 16	Week 17	Week 18
Week 19	Week 20	Week 21	Week 22	Week 23	Week 24
Week 25	Week 26	Week 27	Week 28	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

January turned out to be a pretty good month.  I managed to get a good start on setting money aside in my mortgage cushion, car fund, and travel accounts.  February will be not as good.  I'm cash flowing a lot of upcoming travel expenses.  But for January, at least, I have the money. 

I'm sitting on a $600 travel voucher that I need to use before the end of September.  So I was thinking I have $1,000 saved up for travel rather than $400.  But if the cold hard cash isn't in that account, I won't account for it here.  

Has anyone started their tax returns yet?  I normally would be starting around now, but it looks like I'll have to pay this year.    I ballparked it when I got my final paycheck for 2018, and it looked scary.

[forwardwego]

GOAL	AMOUNT	STARTING	$$ TO DATE	% OF GOAL	$$ TO GO
JPPCU CUSHION	2000	350	350	17	1650
DD IRA	3000	1000	1100	36	1900
RENTAL MARGIN	12000	6300	6300	52	5700
PERIODIC EXPENSE	5000	1800	1800	36	3200
CASH STASH	2000	300	370	18	1630
TOTAL	24000	9750	9920	41	14080

UPDATE 1/26/2019 $9920 (begin $9750; goal $24,000)

[finnime]

forwardwego, you can label your link anything; you don't need to use the actual url. The default is 'link'. Change it to whatever name you want and paste the actual url in the url field.

[plugginaway22]

1/27/19  plugginaway22  $24,298 (goal $36,000)

This is the first time ever that DH and I have had 6 months of living expenses laying around in savings.  I am shooting for saving $1000/month in 2019.  It is a lofty goal, because DH is probably going to trade in his car and we would put some cash towards it to minimize payments.  I have to decide where to keep this money and when to start putting some in taxable investments.  We are maxing our 401k/HSA but I won't track that.  Also not tracking my escrow savings since that just gets swept away at tax time and is on autopilot.  So this money I am tracking is EF and future car fund and bridge to retirement??

Brick bank     15,500
On-line bank    5,822
Credit Union    2,976
Total               $24,298

[TheHaitian]

Hey sorry I have not posted it is because :
- I get paid twice a month and my
Wife bi-weekly. So figure once a month would be better
- I was considering making changes to our saving plans but decided to let them be for now... we will reconsider after bonus time.

[TheHaitian]

Jan 22, 2019 14:11:31 GMT -5 azucena said:

1. Max 401k for the third time: $19,000

Same here 👍🏾👍🏾👍🏾, will be first for DW and 2 paychecks in she is not liking it at all 😞

4. Open Roth IRA: $5,000 (we're probably closing in on income max, but haven't started this yet)

We still have to look into that too but probably 2020 or later... with maxing 2 retirement accounts I figure we are buying ourselves sometime before reaching the income max.

5. Pay down $5000 in mortgage principal

May I ask why?

[chiver78]

finally played cards this afternoon, apparently I'd really f'd up. there was only 1 card in the jar. I made myself current through next Saturday, since I'll be away. I had $22 in my wallet, so I knocked out four smaller amounts. will pick back up after vacation. 

Card	Spades (1x)	Diamonds (2x)	Hearts (3x)	Clubs (4x)
A	1	2		4
2	2	4		8
3		6	9	12
4	4		12	16
5	5	10	15	20
6	6	12	18	24
7	7	14	21	28
8		16	24	32
9	9	18	27	36
10	10	20	30	40
Jack (11)	11	22	33	44
Queen (12)	12	24	36	48
King (13)	13	26	39	52

chiver78  1/27/19  $28/$910 

[seriousthistime]

Hey Savers, the first month of 2019 is coming to a close.  

If you have updates to post, please do so by Saturday night, February 2.  I'll do the updates the morning of the 3rd.

Thank you all!

[azucena]

Jan 27, 2019 13:28:01 GMT -5 TheHaitian said:

Jan 22, 2019 14:11:31 GMT -5 azucena said:

5. Pay down $5000 in mortgage principal

May I ask why?

Peace of mind.  I'm risk averse.  Also I've experienced what happens when one spouse becomes disabled (DH didn't work from 22 to 30).  I am the primary breadwinner by far.  We have the life insurance covered (I am worth waaaaaay too much dead), but I worry about what happens if I become disabled.  My 60% coverage from work won't be enough to pay for our current house.

If I can paid down $5000 extra each year, plus the scheduled biweekly payments which means I'm paying not quite $2000 more, I can turn our 30 yr mortgage into 15.  If I take some extra from my bonus (will likely net $10k-20k/yr) a few more years, I can have a paid off mortgage about the time DD10 finishes college and DD6 starts.  Then, I can use our $1200 mortgage principal payments to cashflow college and help pay for student loans.  I'd have to look up if $1200 is correct for principal - monthly payment is $1850.  I want them to have skin in the game, so I don't want to pay for it all even if I can.  But, my salary means they won't get much (any?) financial aid.  If they stay on track, I expect them both to earn some scholarships, but who knows.

I get that I'm letting emotions rule over the math, but I keep coming back to the same right answer for my circumstances.  We are just turning 40 and have $325k in retirement, plus my company still provides a pension and is funding an HRA that can be used for health insurance and healthcare starting at age 55.  Current balance is $19k, and I've projected it will have $75k in it when I'm 55.

I am to the point where I have so many moving financial pieces that I really should pay for expert help.  That's on my to do list for Feb.  Jan was getting our will done (finally!) - appt next week so a bit behind but at least first steps.  I feel like retirement is on track, and I want to live a little now, and being mortgage free would be huge piece of mind.

[TheHaitian]

Jan 28, 2019 8:28:45 GMT -5 azucena said:

I'm risk averse.  Also I've experienced what happens when one spouse becomes disabled (DH didn't work from 22 to 30).  I am the primary breadwinner by far.  We have the life insurance covered (I am worth waaaaaay too much dead), but I worry about what happens if I become disabled.  My 60% coverage from work won't be enough to pay for our current house.

I understand that but have you done the math to see where you get the most bang for your buck?

Nothing wrong with being risk averse, I am married to a woman that is... but sometimes you need to do the math and see what is in your best interest.

Ex: I send $75 every time get paid to DD 529 (invested in low index funds) while my wife sends $60 to a savings account in DD name. Savings account is earning close to nothing but that is DW preferred method being risk averse and all. Is that the best bang for her buck the next 15-17 years?

And while “we” as a general rule do not believe in social security safety net and refuse to rely on it, it is still there. Per my most recent statement that I got a couple
Of days ago, if I were to be disabled I would get $2,288/month which would make up some of the gap from 60% I would receive.

Basically what would do your family good in a time of need: a big pile of money? Or a paid off house that would require some steps to access the money?

I get the urge and I pay extra towards my mortgage (just to round it up to paying down the principal by 1k each month)... but accessible cash (taxable and in your case a ROTH under your name and husband name) might be better than paying extra towards the house. That $5,000 extra is 1k short from maxing at least 1 of those 2 ROTH’s...

I get that I'm letting emotions rule over the math, but I keep coming back to the same right answer for my circumstances.  We are just turning 40 and have $325k in retirement, plus my company still provides a pension and is funding an HRA that can be used for health insurance and healthcare starting at age 55.  Current balance is $19k, and I've projected it will have $75k in it when I'm 55.

I hate to sound like Phil but he is right, sometimes we need to take the emotions out of it and look at the math. It is easier said then done I agree but maybe seeing someone will help get an unbiased look at your total picture.

And do you mean HSA? And you don’t max it? Or is it not invested?

Because only 1k of my ~18k balance is not invested and over 15 years at 8% continuing maxing it that is over <$250,000 that can be used towards insurance and healthcare.

I feel like retirement is on track, and I want to live a little now, and being mortgage free would be huge piece of mind.

I get it... but what if your mortgage was 200k and you had access to 400k; would you still have a problem sleeping at night?

If the answer is yes then go ahead pay it off. I know people that are just terribly adverse to debt and the idea of having debt make them sick (I am not one of those people)... but if being liquid or having access to funds to pay off that debt lessen the burden you feel ; then do the math.

There is no wrong approach or right approach; I was just curious.