Women in Red SAVERS 2019

[seriousthistime]

teachermom , I didn't read carefully and missed the fact that three of your savings accounts are funded.  I've changed the smilies to add three roses for you.  And thank you, forwardwego , for noticing!

And a shoutout to forwardwego, great start to the year.  January is so challenging, isn't it?  I'm wondering what your "cash stash" is.  I'm thinking of starting my own "cash stash" to have very handy in case there's a natural disaster or something and I need to get out of the area and the ATMs aren't working.  Doomsday approach, right? I've been trying to hoard $5 bills whenever I find one in my wallet, but I also tap my hoard when I'm running low on cash and can't stop at the ATM.

[teachermom]

Feb 6, 2019 9:50:59 GMT -5 seriousthistime said:

teachermom , I didn't read carefully and missed the fact that three of your savings accounts are funded.  I've changed the smilies to add three roses for you.  And thank you, forwardwego , for noticing!

And a shoutout to forwardwego, great start to the year.  January is so challenging, isn't it?  I'm wondering what your "cash stash" is.  I'm thinking of starting my own "cash stash" to have very handy in case there's a natural disaster or something and I need to get out of the area and the ATMs aren't working.  Doomsday approach, right? I've been trying to hoard $5 bills whenever I find one in my wallet, but I also tap my hoard when I'm running low on cash and can't stop at the ATM.

Thanks! I just figured you would do it once I posted my spreadsheet and you could see it more clearly....wasn't concerned but thanks!

And yes....thanks to both of you for maintaining the list, smileys and comments. We all appreciate you!

Teachermom

[sealy]

QUICK UPDATE:

Sealy 2/6/19 $5,600 (goal $25,000)
I get paid again on Friday but not sure how much. I'm hoping to save at least $400 so I can have $6K. I’m working on saving as much as I can for summer. 

My check will be $715.  I'm going to take $400 and put it in savings so I'll have $6K.  I can get by with the rest.

[plugginaway22]

Serious...DH and I keep about $1000 stashed in house. Some think stupid but just security if all atms down.

[forwardwego]

Feb 6, 2019 9:50:59 GMT -5 seriousthistime said:

teachermom , I didn't read carefully and missed the fact that three of your savings accounts are funded.  I've changed the smilies to add three roses for you.  And thank you, forwardwego , for noticing!

And a shoutout to forwardwego, great start to the year.  January is so challenging, isn't it?  I'm wondering what your "cash stash" is.  I'm thinking of starting my own "cash stash" to have very handy in case there's a natural disaster or something and I need to get out of the area and the ATMs aren't working.  Doomsday approach, right? I've been trying to hoard $5 bills whenever I find one in my wallet, but I also tap my hoard when I'm running low on cash and can't stop at the ATM.

Thanks Serious! Since my pet sitting and little side jobs are often paid in cash I'm challenging myself to stash some in our safe and keep just a small amount in my wallet. I'm hoping that keeps me from spending on impulse. Also I had thought I would do the weekly challenge again, but trying this instead. 

[nikiz628]

Feb 6, 2019 15:07:23 GMT -5 plugginaway22 said:

Serious...DH and I keep about $1000 stashed in house. Some think stupid but just security if all atms down.

I read somewhere that you should always have a minimum $500 cash in your home in case of an emergency. So, I don't think it's stupid at all! We generally have between $500-$1000 in our fire safe. 

[forwardwego]

Feb 6, 2019 20:52:38 GMT -5 nikiz628 said:

Feb 6, 2019 15:07:23 GMT -5 plugginaway22 said:

Serious...DH and I keep about $1000 stashed in house. Some think stupid but just security if all atms down.

I read somewhere that you should always have a minimum $500 cash in your home in case of an emergency. So, I don't think it's stupid at all! We generally have between $500-$1000 in our fire safe. 

I'm glad this topic came up. The discussion has me feeling more motivated to build my cash stash.  

Good Mornings WIR Savers  .

[zibazinski]

Small bills is also smart. Most of mine is in 20’s

[zibazinski]

My 2020 large expenses is fully funded. Of course I now have $300 in my savings account but that’ll change in March. I feel good about that. Now to build up my savings again for car and travel. Half and half

[seriousthistime]

zibazinski, why don't you post a chart, or at least a tag line, to update as you go along?

[zibazinski]

Feb 7, 2019 10:19:43 GMT -5 seriousthistime said:

zibazinski, why don't you post a chart, or at least a tag line, to update as you go along?

Because I’m a computer illiterate

[Saving4Norway]

RE: Cash Stash

We have a pelican box hidden in the house with cash. I haven't counted it recently but it has at least $250 in it. I fear we'll forget it when/if we ever move.

[seriousthistime]

Update

Account Name	Goal	Start	Amt. Saved 2/8/19	Amt. Saved %	Roses
Gifts	$2,300	$335	$634	27.6%
Property Tax	$5,000	$2,984	$3,587	71.7%
Survival Fund	$6,000	$26	$526	8.8%
Household/Misc	$2,500	$1,075	$1,146	45.8%
Pet Care	$600	$130	$130	22.5%
Weekly Savings	$2,600	$0	$253	9.7%
Mortgage Cushion	$12,000	$4,200	$4,900	40.8%
Car Fund	$6,000	$0	$500	8.3%
Travel	$5,000	$0	$400	8.0%
Total	$42,000	$8,750	$12,076	28.8%

Seriousthistime, $12,076, 2/8/19 (Goal $42,000)


Weekly Savings Tracker: 

					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

Not as good as January, which was expected.

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.  

My tax return is in the works, and I think I just have to make a few tweaks before it's done.  I will owe a sizable chunk of change to both state and federal.  Those returns will be filed in April.  No sense rushing the writing of those hefty checks. 

[paynointerest]

Update!

Pay-no-interest:  $10,300 (Goal: $49,200.00)

	Goal	Saved	% of goal
My 403b	$19,000	$1,900	10%
457b	$9,000	0	0%
Savings Acct	$3,000	$3000	100%
Taxable Invest Acct	$5,000	$600	12%
Property Taxes	$4,200	$4,200	100%
DH 403b	$10,000	$600	6%
Totals	$49,200	$10,300	21%

[chiver78]

I forgot to report that I played the 5 over the weekend, adding $15 to the jar.

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		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  2/12/19  $43/$910 

[azucena]

In my effort of moving to cash, paid for groceries in cash last night - total was $135 but I only had $125 in cash so I put $10 on the debit card.  $16 was for four $4 potted budding flowers that I splurged on for myself and 3 office buddies that will bloom this week.  I bought a $3 hyacinth bulb for myself a month ago and that thing gave me way more than $3 in joy as I watched it bloom and fragrance my office.  One of my 3 friends went out and got 3 more for the group, and we all kept commenting on its simple joy so I figured I'd keep it coming.

I was also torn about putting $100 for jcp on the credit card when we'd agreed not to use it.  However, DD's school uniform polos were on sale for $7 when they are regularly $25 so I got her 11 women's medium shirts to finish this year and into next year as she has to be near the end of a growth spurt.  I added a $4 red t-shirt for her and 4 $5 shirts for me to get to $100 for free shipping.  That's spending I would have to do eventually, and I avoided full price and won't find them cheaper for this size.

[TheHaitian]

Why is it so hard to use savings when you have too?

I know I need to pull money out of savings, that is why I have it saved ... yet I have been procrastinating as much as possible to not transfer the money to savings and now back is up against the wall...

And I am still debating if I should use it?

[chapeau]

Feb 14, 2019 22:58:34 GMT -5 TheHaitian said:

Why is it so hard to use savings when you have too?

I know I need to pull money out of savings, that is why I have it saved ... yet I have been procrastinating as much as possible to not transfer the money to savings and now back is up against the wall...

And I am still debating if I should use it?

I do this too. It took sooooo long to save it, and “poof” all gone. Even things like property taxes, where I’m saving all year. But I can usually squeeze a small amount of the big thing out of the current budget, so when I don’t have to take the full amount out of savings I feel like I won.

[plugginaway22]

I just did this with an expensive dental procedure.  We have the funds in our HSA but I couldn't use that card.  Instead put it on the regular VISA and will scrounge other ways to pay it off by March 4th.

[azucena]

Deposited $325 into savings from DH's paycheck.  Did some initial estimates of my gross and net bonus - trying to figure out how to split between savings, retirement, and specific spending.


Azucena 2/15/19 $325 of $25,000 goal (1%)

[forwardwego]

GOAL	AMOUNT	STARTING	$$ TO DATE	% OF GOAL	$$ TO GO
JPPCU CUSHION	2000	350	1300	65	700
DD IRA	3000	1000	1200	40	1800
RENTAL MARGIN	12000	10700	3700	30	8300
PERIODIC EXPENSE	5000	1800	2920	56	2080
CASH STASH	2000	300	370	18	1630
TOTAL	24000	14150	9490	39	14510

UPDATE 2/21/2019 $9490 (begin $14150; goal $24,000) beginning amount corrected

Back pedaled.

Spent a lot on rental repairs and maintenance, hoping to be just about done on that for a while. 

[nikiz628]

Jan 22, 2019 17:06:04 GMT -5 nikiz628 said:

UPDATE 2/21

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

2019 Savings	START	CURRENT	GOAL	STILL NEEDED
Emergency Fund	$2,091.03	$2,574.39	$4,500.00	$1,925.61
DS1's Savings	$1,750.51	$1,850.51	$2,000.00	$149.49
DS2's Savings	$576.65	$676.65	$800.00	$123.35
TOTALS	$4,418.19	$5,101.55	$7,300.00	$2,198.45

NikiZ628 2/21/19 $5,101.55 (Goal $7,300 WIRS1)

Trucking right along.... 

[TheHaitian]

Finally transferred the money after agonizing over it for weeks... even considered putting it on the credit card.

But focusing on paying that down finally vs increasing it.

[plugginaway22]

February update.
Plugginaway22:  $25,004 (goal $36,000)

We went to FL this month and paid off most of that plus an expensive dental procedure.  We also found out we owe $3100 in Federal tax which won't get paid until 4/15.
My on-line bank has money market accounts at 2% with min balance of 10k, so am thinking I should shift some of this around to at least get that interest rate.

Brick bank            15,101
On-line bank           6,027

Credit Union           3,876

Total                    $25,004

HSA balance $9216

[TheHaitian]

Questions for the ladies?

With everything happening, basement plumbing issue and what not, I decided that while I hated it, it must be done... so I took out $4,800 out of my emergency fund aka HSA (have the receipts); leaving in it a little bit over 15k.

A bit bump because that account was close to 20k (money not even in my account yet itching to start contributing to it) and the option is better than the alternative which is adding to our credit card debt which I want to pay down.

My bonus is in 27 days and whatever amount that is, I am opting to have 30% sent to 401k (this way I can lower my 401k contributions and increase cash flow on a monthly basis) and the rest will go towards paying down our debt.

While part of me is bump to having to take out the money; my DW said why not use part of the remaining to pay off some debt. Depending on how much my bonus is (thinking 5k) that is 3 accounts I can close down (or freeze) and focus on the remaining.

I can see the logic in that but I don’t want to... I withdraw money now because between an unforeseen tax levy that we are fighting from MA (took $550 out of my wife check, claiming we owe MA $2,000), the plumbing issues that we have to pay (home insurance does that cover plumber which is $185/hr but covers the other work so will get some money back for costs over 1k deductible; our take home being reduced by almost 1k/month starting the new year it was a bit too much to juggle and the quickest fix seemed that.

But I don’t want to make it a habit... we could also lower our contributions but I am also concerned once we pay down the debt we will not increase them back up and keep on spending...

- Right now I have reached out to MA to file an abatement. So hopefully they should not take money out of DW check anymore or next check should be last once. Once it is all figured out (we do not owe) we should get that ~1k back.

- considering working for Uber eats for some
Extra cash...

- I reached my deductible this month so starting next month that is ~$200/month I can start taking out of the FSA to go towards bills.

- come June/July will have the house appraised and if we reach it that is $430/month PMI we will not have to pay anymore that can also go towards paying down debt.

So I do have a plan, just not a quick fix plan... the $4,800 I feel was a need because we were hemorrhaging money and I did not want to keep adding expenses to the credit card pile that I am trying to pay down and more than ~30 days away from bonus.

What would you vote for?
- quick fix and eliminate ~10k worth of debt that will allow more breathing room? Small victory? And reduce 401k and have this paid off within the next 2 years max?

- slow and steady approach? Have it paid off within 4 years or less?

[zibazinski]

Will you spend that extra money from paying off cards? I hate CC debt with a passion so that’s my vote.

[zibazinski]

Why is your take home a grand less? I hope you can move someplace with a lower COL. Getting out of a high expense area will help you so much. A four bedroom three bath place will give you room for your MIL and another kid if you’re set on that. But get that extra bathroom!

[finnime]

TheHaitian, myself, I'd go for the quick fix but not reduce the 401k contributions. If you have cc debt plus available savings, then paying off the debt with the savings seems like the best way to go. It keeps the most money in your pocket, because no interest needs to be paid on debt. I'd keep something like $2500 in an EF and use the rest to pay down cc's. Any available money you get next also goes to cc's. IF an emergency comes up that costs more than that you can use the paid-off cc's to cover.

One other thing - your FSA can probably be used in advance of being funded for health care. IME that doesn't work for daycare, but for medical expenses it does. You can use up to your total to be saved for the year next month even if you need dental or medical care then. If you end up leaving your job you also don't need to repay it.

I know it feels good to have a nice sum in savings but if you have a lot of cc debt you only have that savings on paper. You have to subtract the cc's to come up with true savings. It sucks, but it's the way it is.

[CCL]

Carl are you saying your wife wants to take more than the $4800 out of the HSA to pay off the debt? Or to use your bonus only to pay it?

Since you said the extra in your take home should give you some breathing room maybe use some of that toward debt payoff?

Hopefully you can finally get rid of that PMI. That will be huge for you. For myself, I'd wait to see how that works out before taking more from savings. I'm someone who hates taking anything out of savings, though.

[paynointerest]

Update!

Pay-no-interest: $10,600 (Goal: $49,200.00)

	Goal	Saved	% of goal
My 403b	$19,000	$1,900	10%
457b	$9,000	0	0%
Savings Acct	$3,000	$3000	100%
Taxable Invest Acct	$5,000	$600	12%
Property Taxes	$4,200	$4,500	107%
DH 403b	$10,000	$600	6%
Total	$49,200	$10,600	22%

I will have money left over this month and I decided to put $300 toward my property taxes.  This account is my savings for both property and income taxes that I will have to pay for the year.  I just got all of my paper work to my accountant last week and so I'm going to build a buffer until I know what my status is.  If I end up having more money in this account than I need to pay my taxes, I'll figure out what I'll do with the extra at that point in time.