2021 Controlled Spend and No Spend

[catsareme]

The plumber's bill while not cheap was less than I had anticipated.  Final cost:  $840.  We have another plumbing project that needs to be done but it's something that can wait until sometime later in the new year.  Thursday DH has promised me we can go to a local nursery and buy a small pine tree to plant, temporarily, in a pot over Christmas.  Later next year we will plant the ex-Christmas tree in the yard; we have plenty of room.

[Iggy aka IG]

catsareme, sorry about the hefty bill!  The pine tree replant idea sounds lovely!

Reviewed end of the year numbers earlier today, and I'll present the final analysis after payday later this month.  One thing I did notice, however, is my non-essential spending is almost nil so far this month.  No takeout, no liquor store visits, etc.  

[moneysquirrel]

Quick update:

All storm related damage has been paid off.  Sinkings funds took a beating there.

Mailed off the property taxes and charged the umbrella policy.  Both of these have been/will be paid with sinking funds as well.

I treated myself to a few items and lunch out yesterday.  It was nice to do something for me that was not a need for a change. 
Other than that all else is normal programming.  Keep up the great work all!

[catsareme]

Mailed off the checks for the annual premiums on our long-term care insurance.  It's a significant expense but the peace-of-mind is worth it IMHO.

Avoided the stores today and have no need, that I know of, to go out shopping tomorrow.

Happy Holidays to you all!!

[moneysquirrel]

I was doing so well until ... 

My phone is coming apart.  Back is separating from the front and having issues with connecting.  So a new phone was ordered this morning.  I think I have enough in cash back credits to pay for this.  This year has been a very expensive one for me.  Looking for a better 2022.

[laterbloomer]

Jan 1, 2021 21:04:07 GMT -5 laterbloomer said:

I did good with retirement savings last year but I made a few big ticket purchases. I paid everything off except my camper. The trick this year is to pay that off AND keep up with my retirement savings. That means no more big purchases! And no wasting money

My camper did get paid off, but I rolled it into mortgage to do it. I did put more into retirement savings so it balanced out somewhat. I still have some big leaks in my spending. I really need to plug those next year. I'm going to have to keep a spending journal and see where my money is going.

[azucena]

Dec 28, 2021 16:11:42 GMT -5 laterbloomer said:

Jan 1, 2021 21:04:07 GMT -5 laterbloomer said:

I did good with retirement savings last year but I made a few big ticket purchases. I paid everything off except my camper. The trick this year is to pay that off AND keep up with my retirement savings. That means no more big purchases! And no wasting money

My camper did get paid off, but I rolled it into mortgage to do it. I did put more into retirement savings so it balanced out somewhat. I still have some big leaks in my spending. I really need to plug those next year. I'm going to have to keep a spending journal and see where my money is going.

Maybe you've already seen me post about my method thru the years, but just in case here goes.  Each payday, I pay bills and forecast ahead anything else that's known to be due, then I leave a certain amount to spend and skim all of the rest into savings.  We have our checking acct set to alert us when it gets to $100 and also set up for automatic overdraft protection from savings.  Both DH and I have gotten really good at thinking hard about moving money back from savings to make additional purchases.  Sometimes, he'll text me on payday and say leave $$ extra because I wanted to buy this and waited instead of overspending last week.  This means he's taken the time to think it through and it's no longer an impulse.

This has been easier for me than tracking individual entries.

It's also motivating to set a goal and track it on WIR Savers.  I get excited to post progress each payday.

[laterbloomer]

Dec 29, 2021 9:36:46 GMT -5 azucena said:

Dec 28, 2021 16:11:42 GMT -5 laterbloomer said:

My camper did get paid off, but I rolled it into mortgage to do it. I did put more into retirement savings so it balanced out somewhat. I still have some big leaks in my spending. I really need to plug those next year. I'm going to have to keep a spending journal and see where my money is going.

Maybe you've already seen me post about my method thru the years, but just in case here goes.  Each payday, I pay bills and forecast ahead anything else that's known to be due, then I leave a certain amount to spend and skim all of the rest into savings.  We have our checking acct set to alert us when it gets to $100 and also set up for automatic overdraft protection from savings.  Both DH and I have gotten really good at thinking hard about moving money back from savings to make additional purchases.  Sometimes, he'll text me on payday and say leave $$ extra because I wanted to buy this and waited instead of overspending last week.  This means he's taken the time to think it through and it's no longer an impulse.

This has been easier for me than tracking individual entries.

It's also motivating to set a goal and track it on WIR Savers.  I get excited to post progress each payday.

How much do you put aside for spending?

[azucena]

We've settled in at about $400/week.  Groceries are usually $150, gas $40, eating out $50-100.  We don't spend much on other entertainment out so the rest is household shopping, etc.  Our budget isn't tight because we are saving plenty and have found a rhythm. 

I have a second checking account that we use to hold $ for large bills, checks to clear, and also as temporary savings if we're going into a week without a paycheck.  We do best when I set the $400 spending weekly instead of trying to have $800 last two weeks.  We both keep an eye on the spending account balance so seeing $800 would let us spend too much. 

It's really the skimming savings off first and then the psychology of not wanting to pull from savings that helps us.

[moneysquirrel]

I am waiting for the new phone to arrive.  I think the weather in the midwest delayed my shipment but according to the lst tracking info it is currently on the truck to be delivered.  Ir am not leaving the house until it arrives and am getting a few things accomplished while I am home.I am spending a few minutes examining my budget spreadsheets.  So many of my 2021 expenses were house related.  It fact 70.7% of my total epenses were house related.  About half of these were planned or replacement expenses.  The rest was repairs related to Ida.  I am hoping for a less spendy year in 2022. 
These are hopefully one time or rare epenses that I had in 2021:

One Time or Rare Expenses(Hopefully):

* Replacement - Dishwasher
* Replacement -- Washer and Dryer
* Replacement of Garbage Disposal and plumbing repairs 
* Install -- Siding on House
* Gutter Cleaning and  Riversand Spreading (may need more river sand in 2022)
* Car Rental/ Deductable (while my car was being repaired due to a hit and run in a parking lot)
* Ida Repair of new siding
* Ida -- Roof Replacemet 
* Ida -- Fence Replacement and Gates
* Ida -- Patio Replacement -- 
* Replacement -- Phone  

My bank accounts need me to replace a lot of what was spent.  About 40% of the Ida repairs was done with insurance funds but the rest came from sinking funds.  I really want to replace as much as I can in those as the uncoyming years progress. I tried to pull from the accounts that paid me the smallest rate of interest.  It is a good thing that my wants are few and that I have always been thrifty.  I did upgrade my phone service when I ordered the new one.  I was on a very limited old plan and had to be very careful with my date usage.  Upgrading will cost me a little more a month but will allow me to have fewer limitations in times of disaster.

Wishing all of you a successful and healthy 2022.  

[vetswife]

Well, I got through the year with a little left over.  This month planning to spend about $400 on furnace cleaning.  That's the main big expense although I'm sure something else will come up.  I'm trying to be more vigilant on my finances this year and would like to save more.

Happy New Year everyone!

[laterbloomer]

Has the 2022 thread been started yet?

[Iggy aka IG]

Jan 5, 2021 14:31:23 GMT -5 Iggy aka IG said:

Thank you for the new thread, BG.

2020 annual non-essential spending totaled $8,335.63.  The majority of that was entertainment, travel and gifts.  The good news is when I calculated YTD through November, and decided to really reel it in, December came in at just $192.03.  Over half of that was a gift card for my dad and his wife.  Here's to a better year, and maxing out retirement funds. 

Wrapping up 2021:

Non-essential spending was $9,216.87.  In my world, that category includes concert and movie tickets, alcohol, dining out, traveling, gifts (I was very generous this Christmas), non-essential clothing and shoes, salon trips, household item wants not needs, and XM radio for the truck.  Now, I could be picky and say yes, we needed washcloths, and yes, I needed work slacks and waterproof boots and the like.  If so, that would only shave off about $200.

All in all, it was a better year, IMO.  Sales remained steady here at the office, I received my best bonus yet, and with that bonus, my IRA was maxed before treating myself to a Coach tote, which happened to be on sale.