2021 Women in Red Savers

[Blonde Granny]

Let's make this a great year for all of us.

BG

[seriousthistime]

WHO ARE THE WIRS?

Hello and welcome to the Women in Red Savers (WIRS) group! We are a supportive community group that celebrates reaching the personal savings goals of the WIRS members, whether we are women or men, currently “in the red” or “in the black.” This thread will give you basic information what our group is about, so please read all of the information provided below and then start posting!

The purpose of the Savers group is to empower our members to take financial control of their lives by setting, tracking and achieving savings goals. If you're interested in a community of support, motivation, and inspiration, then this is the place for you.

As one part of the Women In Red, the Savers focus on encouraging members to save, no matter what your level of savings knowledge is. You may be starting on your first Emergency Fund or maxing out your retirement. It doesn’t matter to us, as long as you keep doing it. We feel that positive encouragement and motivation will help all of us to learn better savings habits, and accomplish those savings goals.

A key part of saving is learning to incorporate savings into your daily routine – many of our members are also members of the No Spend threads or the Women In Red Racers. Savings is an integral part of paying off debt and changing your lifestyle, so no matter where you are in the process, this is the right place for you to be!

The WIRS - Women in Red Savers group is a SMALL sub-group of the larger Women in Red community because we are seeking the common WIR goal: Taking Total Financial Control! The same support, encouragement, motivation…and yes, sometimes “tough love” provided by the WIR is applied towards savings goals as well! And because the support and encouragement from a group with similar goals also serves to provide a sense of accountability in meeting our individual goals, what better way to approach this than promoting our own Savers group!!

THIS IS THE RIGHT PLACE FOR YOU TO BE!

[seriousthistime]

HOW DO YOU JOIN?

First, establish some sort of a goal.  Then report your progress periodically by updating your numbers. 


PLEASE use a tag line. In order to be able to keep track and post updates please make sure and include the start & goal such as:

Username / Update date / Current amount saved/you may follow that with your goal in parenthesis in any manner you wish. 

Some suggestions are:

UserName 5/3/21 $8,500 ($0 1/1/21 / Goal=$16,000)

UserName 5/3/21 $8,500 (Start=$0 / Goal=$16,000)

There are some Savers that prefer to have massive multi-year goals that don't have an annual goal in mind so they could just do the basics like this, if they wanted to (not logging ★ progress).

UserName 5/3/21 $38,572 (Start=$24,369)

You can use a tag line only, or put your savings into a chart with totals, and the tagline below.  To make a chart, you start to post a message and will see a line of icons above the big white box.  The grid-looking thing is an empty chart where you can indicate the number of columns and rows you like, and if you want to have a border (if so, click on that box), then click "insert table."This is what you get if you select 2 columns, two rows.  You can add or delete rows by choosing the cell nearest the place you want to add, and right click your mouse to see the options. 

Row 1 column 1	Row 1 column 2
Row 2 column 1	Row 2 column 2

Then just highlight the contents in the first cell, and replace with whatever text or number you need.

Emergency Fund	$1,000
Property Tax	$2,000

And the tag line goes underneath (or at the top, anyplace as long as we can find it).

SMILIES AND SHOUTOUTS ARE USUALLY DONE AFTER THE END OF EACH MONTH.  

We hope that your participation helps you to achieve a more prosperous 2021!  Please join us!

[seriousthistime]

CHALLENGES AND TRICKS FOR SAVING

In the past, we have kicked around some ideas for ways to save. Some people are very methodical, and others need tricks and motivation. Some of us like both.

See replies #339, #348, #353, #358, and $360 in the Savers 2014 thread.

First, there is the weekly savings challenge. The idea is that for the first week of the year, you save $1, second week you save $2, then the third week you save $3, and so on up to $52 on the last week of the year. You end up with $1,378. This is a great way to build up an EF.

Variations:
Reverse weekly challenge: Start with $52 on the first week, $51 on the second week, $50 on the third week, and so on. You end up with the same $1,378, but it builds more quickly.

Bump-up weekly challenge: Instead of starting with $1 on the first week, start with a few dollars more than that, and increase by $1 each week. So maybe start with $5 the first week, $6 the second week, $7 the third week, and so on.

Maximum-tackle weekly challenge (forwardwego's idea): Make a list of weeks from 1 to 52. Each week, select an amount from $1 to $52 that you can manage that week. If it's $1, cross that off the list, and put it in savings. If it's $52, cross that off and put it in savings. Once it's crossed off, it's done and you have to select from the other amounts in future weeks. This gives you more flexibility during the more challenging weeks of the year.

Another idea (chiver78 's idea) Is to use a deck of cards of which there are 52 (how convenient!). Pull a card out of the deck, and put that amount in weekly savings. An ace can be $1 or $11. Kings, Queens, and Jacks can be $10, or any other amount you assign to them. Thanks, chiver, for this idea.

Plateau weekly challenge: Start with the straight weekly challenge ($1, $2, $3...) and if it becomes too much to put in an ever-increasing amount, STOP increasing but continue to put in the last amount you were able to make. So if you had to stop at week 20, with $20, continue to put in $20 for the rest of the year.

There are a few non-weekly challenges we've been discussing.

Random cash challenge: If you find cash in pockets, floating around in your purse, in your laundry room, and basically any place other than your wallet, it goes into a pot to be added to your savings.

Specific denomination challenge: Choose a denomination that you want to save. It could be $10, $5, $1, quarters, dimes, all coins, etc. You get the idea. At the end of each day, if you have any of that denomination in your purse, wallet, backpack, or wherever you keep your money, it goes into a pot to be added to your savings.

[seriousthistime]

MOTIVATION FROM bankergurl (which I hope she doesn't mind us using again for 2021)

Hi Ladies! Hope everyone on the savings board is doing well!

I was with the WIRS waaaaay back in 2005 and off and on since then. I put small amounts in savings very frequently and ended up feeling like I was either "over-updating" or not tracking accurately on here, which prompted me to start my own savings blog in 2009. If you would like to read my blog, the link is on the bottom of my post. If there one thing I am good at in life....it is saving money. I don't make much (about $35K a year), but I can pinch a penny (or coupon...or rebate) as hard as anyone I know! I (sadly) got divorced this year. After the divorce my savings was down to $17K. That was just about 4 months ago...since then I went up to $27K! And that is on one income! I have had some major bills since then (car repairs, insurance bills etc.) and am now at $24K, but still pretty darn good if you ask me, for a single 30 y/o with no debt other then mortgage. Some people take the word "cheap" as as insult, but you can call me cheap all day long and I will accept it proudly!

I am a HUGE believer in nickel and diming your savings. You do no need a $100 to save money, you don't need $10, you don't even need $1. All you need is 1 red cent to start. Through it in a jar. You started!

Here are my personal favorite ways to save:

Save all of your change, once a month take it to the bank and deposit it into savings. Do not use a Coin Star or anything else that charges you to turn in your change, nearly
all banks have a coin machine and will process it for free if you have an account there.

When you get your monthly or quarterly interest in your savings accounts, add a deposit to get that amount to at least the next $5 amount, or even try for the next even $100 amount if it's not too far away. So if after your interest goes in your new balance is $379.18, deposit another $20.82 to get to that $400 mark. It might not seem like much, but I am sure I have saved at least another $1000 by doing this every month.

When you make a savings deposit, do the same thing as with the interest, round it up to the next $5, or even $100 mark (depending on what the amount is). So if I got a rebate for $12.00, I deposit $15 or $20 into saving.

Put all rebates, bonuses, tax returns, gift money (unless for a specific gift), found money (on the ground, in your car, in the washer, etc.), rummage sale or online selling, recycling money, and any and all other "extra/surprise/not standard" funds into savings. You survived without them before, you don't need them now!

This is an oldie, but a goodie. Set up an automatic savings plan. It doesn't have to be a lot. If you can only start with $5, then start with $5. Then next month try to move it to $10, whatever amount you start with, just try to keep moving it up, no matter how slowly or gradually. Try to set it up for every paycheck, that way you know the money will be in your account on payday, and it will already be transferred and gone before you even have a chance to miss it!

There will (of course) when you have to take money out of savings. Sometimes this will be for a planned purchase. Sometimes this will be for an emergency or an unexpected expense. That is ok! That is what your savings is for! Do not get discouraged. If you have to take $100 out of savings today for a car repair, but tomorrow you find $5 in an old Christmas card...you still put that $5 in savings. The old notion of "slow and steady wins the race" is completely true of savings. Just keep making those deposits no matter how big or small and they WILL add up!

[seriousthistime]

PLEASE NOTE:

This thread is now open for you to start posting goals, thoughts, and ideas for 2021. 

The 2020 Savers thread is still open for you to post your final updates for 2020. Please post your final year-end updates in the 2020 Savers thread.

When the smilies and shoutouts for 2020 are done, that thread will be locked. So please hurry and get your 2020 updates done by the afternoon of January 8, and post them in the 2020 thread. forwardwego and I will post the shoutouts after the smilies are done. And after the shoutouts are posted, that thread will be locked.

Here's to successful saving in 2021, Savers! Let the savings begin!

[steph08]

I missed posting my last update before the 2020 thread closed, so here it is: 


UPDATE: steph08 12/31/2020 $35,307.91 7/31/2019 $6,626.16

Savings	Start	Previous	Current	Difference	Goal	Percentage Saved
Emergency Fund	$3,664.15	$12,678.74	$13,505.79	$827.05	$10,000.00	135.06%
DD1 529 Payback	$0.00	$0.00	$0.00	$0.00	$2,700.00	0.00%
DD2 529 Payback	$0.00	$0.00	$0.00	$0.00	$2,700.00	0.00%
DD1 Savings	$1,766.95	$3,109.38	$3,110.40	$1.02	$3,000.00	103.68%
DD2 Savings	$1,195.06	$2,114.10	$2,114.79	$0.69	$2,000.00	105.74%
401K Savings	$0.00	$7,646.81	$9,310.65	$1,663.84	$7,000.00	133.01%
401k Employer Match	$0.00	$4,422.60	$4,866.28	$443.68	$2,800.00	173.80%
DD1 529 2020	$0.00	$1,000.00	$1,200.00	$200.00	$1,200.00	100.00%
DD2 529 2020	$0.00	$1,000.00	$1,200.00	$200.00	$1,200.00	100.00%
TOTAL	$6,626.16	$31,971.63	$35,307.91	$3,336.28	$32,600.00	94.59%

2021 Goals
DD1 529 Payback - $1,000
DD2 529 Payback - $1,000
DD1 Savings to $3,500
DD2 Savings to $2,500
DD1 529 2021 - $1,200
DD2 529 2021 - $1,200
401k Savings - $11,000
401k Employer Match - $2,884
EF to $15,000

[seriousthistime]

Steph, I'm trying to get the thread reopened.  (Not sure who locked it but an admin should be able to fix it.) 

If I can, I will copy your post over there too in order make sure it goes in the smilies and forwardwego can get your amazing progress in the year-end shoutouts. 

[seriousthistime]

Multiyear savings goals

Name	Start	Current	Goal	% Saved	Spent
Emergency Fund	$2,000	$2,000	$2,000	100%
Gifts	$14	$2,300	$2,300	100%
Travel	$2,310	$3,660	$5,000	73.2%
Property Tax	$2,785	$5,495	$5,500	99.9%
Weekly Savings	$227	$227	$1,605	14.1%
Total	$5,560	$13,682	$16,405	83.4%

Serious this time, 1/1/2021, $13,682 (Goal $16,405)

This year I'm trying something new.  These are multi-year goals, and the plan is to not just have saved the money but also to have the balance at any given time meet the goals.  I have property tax due in a month and there will be a big shift of funds to the spent column and a corresponding reduction in the % Saved column.  I won't earn any roses until the end of the year. 

Weekly Savings

$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

[speechchick71]

Speechchick, 1/2/2021, $0 (Goal $20,000)

	Goal	Amount Saved	% Saved	Roses
Roth IRA	7,000
Car expenses	4,000
General Savings	9,000
Total	20,000

These are big numbers for me. Last year, my Roth was funded by shifting some money around to make it available to invest and my goal was only $5500. This year I'll be turning 50 so I can up my contribution. I decided not to race my 403b because it's automatic and, to save money, my work decided to only contribute 4% instead of 5% match.  My little car fund has been a good thing for me: any repairs related to my cars, insurance, maintenance.....all comes out of this account. It's just a shift of money but in my head it separates it out better.

seriousthistime : How exciting for you! I can't wait to retire. I think I'd be really good at it!

forwardwego : I loved the song. I feel like it's been a long time since we got a song from you!

[paynointerest]

Savings Goals for PaynoInterest:  01/02/2021

Here are my 2021 savings goals:

Max out both my and DH Roth IRAs
Max out my 403b and 457b accounts
Fund 60% of DH 403b account
Save $6K in our taxable investment account

Pay-no-interest: $0.00 (Goal: $58,200)

	Goal	Saved	% of Goal	Amt Spent
My 403b	$19,500
My 457b	$19,500
Tax Invest Acct	$6,000
DH2020 Roth	$6,000
MY2020 Roth	$6,000
DH 403b	$12,000
Total	$58,200

[debthaven]

Congratulations on your retirement seriousthistime !!!

[teachermom]

Been so distracted with online learning and the remodel on my home....not sure where I am much less my goals for this year! Dang....I need to get on the ball!!

Trying to focus on losing weight and getting healthier which includes eating healthier. I am also planning that my home will sell this spring/early summer (will make me close to debt free!!).....so that will change things as well. Guess I need to sit down and do some reflecting and planning....maybe this weekend. 

I have seen a lot of great things happening in this group! Excited to see what 2021 brings! Keep it up savers!!

Teachermom

[nikiz628]

2021 Savings	START	CURRENT	GOAL	STILL NEED
Emergency Fund	1,600.56	1600.56	3,000.00	1,399.44
DS1's Savings	2,202.03	2,202.03	2,500.00	297.97
DS2'2 Savings	962.43	962.43	1,250.00	287.57
Christmas Fund	1.05	1.05	1,000.00	998.95
TOTALS	4,766.07	4,766.07	7,750.00	2,983.93

NikiZ628 1/5/21 $4,766.07 (Goal $7,750.00 WIRS1) 

[snapdragon]

Snapdragon Update 01-06-21 - $4379.65 / $5000

Car/House $ 4379.65 / $5000

New Totals $ 4379.65 / $5000



For right now I am just working on one account. I will keep thinking about what I need to adjust as time allows.

I was happy that I did manage to put an extra $200 on the principal of my Kitchen Reno before the end of the year.
The month of January is rather sucky for me --- I have already paid $180 for car tabs and I need to pay another $419 for 6 months of car insurance. I am making the mental note to myself that the next time I get a vehicle it will not be in the beginning of year. 

Everyone keep up the hard work,

[shanendoah]

I am in again this year. I will probably go quarter by quarter again. I started a new job on Monday with a significant raise, but I won't have my first full paycheck until the first week of Feb. I will also have a significant payout of vacation time from my last job. I just don't know what any of it will look like. So, expect me in February with goals.

[Rukh O'Rorke]

First payday of the new year, and time to set goals.

Wanted to try to be level on the 401k throughout the year, but my plan can't specify dollar amounts, only percentages so you can't hit the mark exactly. So I debated on whether to go with a percent a wee bit under the max, and think if I got a raise at review time (May end of fiscal) that would help me max, but then I thought I better not risk it and go a wee bit over, but then I did a percentage point above that because I was pressed to get the form in and the form I was copying from had that amount in it already. So-it is not the level contribution I wanted, but at least I won't have what happened 2020 when I was skating light early in the year, making heavier contribution at the end, but when I switched from regular to catch up it turned out to be a whole different form, missed a payperiod, and ended up at 30% for the last 2 months of year. At Christmas! LOL!

ok - so time for goals, going to look at and steal last years I think!

[Rukh O'Rorke]

Dec 27, 2020 11:27:08 GMT -5 Rukh O'Rorke said:

FINAL UPDATE! 

Rukh O'Rorke [1] 12/27/2020


2020 goals: $43,600  (Start=$0 / Goal=$43,600)
                                

Saving Goals for 2020

Account	Goal	Added	Saved	Percent
401k	$26,000	$1,622.00	$26,000.00	100%
HSA	$7,600	$292.31	$7,600.00	100%
EF:MM	$5,000	0	$5,000.00	100%
EF:ETFs	$5,000	0	$5,000.00	100%
Total	$43,600	$1,918.31	$43,600.00	100%

Goals acheived! First year I have maxed 401k in a very long time. First year ever maxing HSA. 

Saving Goals for 2021

Account	Goal	Added	Saved	Percent
401k	$26,000	$1,095.96	$1,095.96	4%
HSA	$7,600	$296.15	$296.15	4%
EF:MM	$5,000	$250.00	$250.00	5%
EF:ETFs	$5,000	0	0	0%
Total	$43,600	$1,642.11	$1,642.11	4%

Achieving goals at the end of last year was great, in some ways a bit sad to be starting over from scratch. Also-wondering-how many more years will I be saving?

Dec 27, 2020 11:27:08 GMT -5 Rukh O'Rorke said:

FINAL UPDATE! Rukh O'Rorke [2] Multiyear EF Goal

$11,066.31 (Start=$500 / Goal=$20,000)

Rukh O'Rorke [2] Multiyear EF Goal

$11,316.54  (Start=$11,066.31 / Goal=$20,000)

This account is currently bloated as I put my refi money here until I start the household stuff. Anyone know if a brockerage account at vanguard can be split into clear buckets somehow? Maybe I will just put all my EF into funds, and the MM can be the house money?

Despite saying that I put 5k into MM and 5k in ETFs for last years EF goals, I never put it into any funds as I was worried I might need it at a moments notice. For the time being, I do have a lot of cash out the refi so could potential put all the official EF into funds until that money is spent, then could focus on replenishing the cash position.

may reconsider the goal amount too.....things to think about! 

[plugginaway22]

I am reading through and getting caught up. Yes I am in again, this thread has made me into such a better saver over the past few years.

Will post my current status and goals for 2021 this weekend. Trying to feel hopeful in the coming year.

[minnesotapaintlady]

Jan 8, 2021 9:35:23 GMT -5 Rukh O'Rorke said:

Wanted to try to be level on the 401k throughout the year, but my plan can't specify dollar amounts, only percentages so you can't hit the mark exactly.

My company is the same way and it makes it so hard for me to just say I want to hit X dollar amount especially since I'm not salary and OT can change my annual income a lot.   Last year they cancelled our match after June, so just maxing early wasn't a big deal.  Year before that I lost 2 months of match due to that.  I don't know why it would be so hard to just set it up as a dollar amount per check.

I'm struggling so much with goals for this year.  I keep adding new ones and not giving anywhere else.  Without increased income it's not really possible.  My latest is thoughts of maxing the catch-up contribution of my 401K as well as the regular, only putting it into Roth 401K instead of regular.  There's no way I can afford to do that while paying extra on the house (not even sure if I could if I stopped paying extra on the house), but I wonder if living off cash savings to do so would make sense? 

I dunno...maybe I'm better with cash considering the instability of the country right now.

[Rukh O'Rorke]

Jan 9, 2021 12:24:19 GMT -5 minnesotapaintlady said:

Jan 8, 2021 9:35:23 GMT -5 Rukh O'Rorke said:

Wanted to try to be level on the 401k throughout the year, but my plan can't specify dollar amounts, only percentages so you can't hit the mark exactly.

My company is the same way and it makes it so hard for me to just say I want to hit X dollar amount especially since I'm not salary and OT can change my annual income a lot.   Last year they cancelled our match after June, so just maxing early wasn't a big deal.  Year before that I lost 2 months of match due to that.  I don't know why it would be so hard to just set it up as a dollar amount per check.

I'm struggling so much with goals for this year.  I keep adding new ones and not giving anywhere else.  Without increased income it's not really possible.  My latest is thoughts of maxing the catch-up contribution of my 401K as well as the regular, only putting it into Roth 401K instead of regular.  There's no way I can afford to do that while paying extra on the house (not even sure if I could if I stopped paying extra on the house), but I wonder if living off cash savings to do so would make sense? 

I dunno...maybe I'm better with cash considering the instability of the country right now.

Has the match come back? I hate no matching! did that for 8 years at old job

Do you think your job is super secure? That would impact things, I think.

In terms of Roth 401k, I've been going for the immediate tax savings to help me to max, but who knows where tax rates are going. Maybe I should reconsider. What has your thoughts been on the Roth 401k vs regular?

How does the roth 401k work? can you still access contributions penalty free? would you be putting into the market as opposed to the cash you are taking it from? I'm a bit worried about the stock market doing so well.

[minnesotapaintlady]

Rukh O'Rorke - The only reason I'd do Roth is because I'm almost to the point where there is absolutely no tax advantage to doing a 401K.  I'm already way past having any taxes due at all, so the only reason I put in regular is that it increases Earned Income Credit.  But, soon I'll hit where that stops and then it actually goes the other way where credit is reduced for every dollar I put in so I'd have to pay to put money in!   In your situation I'd stay with the immediate tax break.  Roth 401K is not anywhere near as flexible as Roth IRA, and no you can't just pull your contributions. 

The market is worrying me too.  My company is secure, we had a great year despite covid...probably because most of our business is medical and military.  My personal job?  I don't know. I haven't been the most motivated employee the past couple years and I know everyone is expendable.  I've been trying to get my brain back into worker bee mode, but I'm so easily distracted these days.  It's like my head is half out of the door but I'm not financially where I need to have that attitude yet!  

I'm very annoyed by the match cut.  They reinstated half of it, (it's now a 2% match instead of a 4% one), and are claiming they'll get it back to 4% as soon as financially feasible, but I could see it staying this way.

[seriousthistime]

Name	Start	Current	Goal	% Saved	Spent
Emergency Fund	$2,000	$2,000	$2,000	100%
Gifts	$14	$2,300	$2,300	100%
Travel	$2,310	$3,660	$5,000	73.2%
Property Tax	$2,785	$5,955	$5,500	108.3%
Weekly Savings	$227	$334	$1,605	14.1%
Total	$5,560	$14,249	$16,405	86.9%

Serious this time, 1/9/2021, $14,249 (Goal $16,405)



Weekly Savings

		$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

[Blonde Granny]

MPL....your company does make really cool stuff. One is a pacemaker that my neighbor had installed a few months ago.....I want the one she has!!!!!! It's so easy to use..the pacemaker runs at night if and automatically send the report to the Dr. office. MeI still have to use that dumb medtronic battery operated 3 times a year. Sheesh....shoe doesn't even know if to kicks on at night, just send the info on its own.

Find me something cool for 5 years from now, would you?

[Saving4Norway]

To re-introduce myself... I have enjoyed so much success at planning and executing significant savings here on the Savers thread over the years that I want to be on board for this year, as well.



A little about me, I'm a 29-year veteran teacher in the Pacific NorthWet. DH and I are DINKs. This past year we paid off our mortgage so we are completely debt-free. I first started with the Savers to save $1000 for a basic Emergency Fund. Once I got that rose, I raised it to $7,500 (3 months expenses). That's been so long ago that that fund's value is now over $25,000! I automatically fund my retirement, investments, and maximize my Roth contributions so I don't track them here.



In 2021 I'm continuing to save up enough money that I could quit teaching at the age of 55. (In 3 years.)



Happy Savings to all, new and old friends! 

[teachermom]

Once again......Saving4Norway.....I want to be like you when I grow up! Was hoping I could retire at 55, which was this year.....didn't happen. Maybe by the time I am 60. 

I have started doing financial coaching on the side and helping get people on a budget and debt payoff plan. Just started and have done some free consults to get my name out there. What it has done is made me realize even more how much people need this. I fight all the time to get Personal Finance as a required course in my high school and our state and people just don't get it. The need is huge!! Kind of frustrating. We have financial education standards in WA but they only apply to if you are teaching it, not that we have to teach it. Not sure what the situation is in your high schools and states but we definitely need this as a country. 

Still not sure my goals as I am trying to finish up my house to sell it and pay off the rest of my student loans. Then I can be debt free!!! I can't wait for that day!

On a side note, I am not sure if any others do this, but I have tracked my net worth the last couple of years. Nice to see it growing!!! Saw a lot of growth in my retirement. I think I have finally hit the point of exponential growth. Takes a long time to get to $100k for example, but each $100k after that comes faster and faster!! I was very late getting into the game. Started teaching at 35 and that was the first time I invested for retirement. Thus, why I can't retire yet.

Anyway....keep up the great work savers!! I will try to work on some goals, even smaller ones until my house is done. 

Teachermom

[forwardwego]

UPDATE 1/14/2021 $600 (Goal $15000)

GOAL	Goal Amount	$$ To Date	% To Date	$$ To Go
JPPCU CUSHION	1000	100	10	900
PERIODIC EXP	5000	500	10	4500
INVEST	5000	0	0	5000
CASH STASH	1000	0	0	1000
Fitness Camp?	3000	0	0	3000
TOTALS	15000	600	4	14400

Edited to reflect zeroing out account begin balances. 

[seriousthistime]

Jan 14, 2021 13:39:22 GMT -5 forwardwego said:

UPDATE 1/14/2021 $2055 (Begin $2000, Goal $15000)

GOAL	Goal Amount	Begin	$$ To Date	% To Date	$$ To Go
JPPCU CUSHION	1000	100	100	10	900
PERIODIC EXP	5000	1300	1355	27	3645
INVEST	5000	0	0	0	5000
CASH STASH	1000	600	600	60	400
Fitness Camp?	3000	0	0	0	3000
TOTALS	15000	2000	2055	13	12945

I like this!  I am trying to anticipate periodic expenses and work them into my retirement budget. The annual fees, like for Sirius, Amazon Prime, and Microsoft 365 are the expenses are the sort of expenses I'd like to plan for.  I've got the quarterly expenses (one of the HOA fees) and semi-monthly expenses 

I'm stealing your idea. 

[Rukh O'Rorke]

Jan 12, 2021 11:36:01 GMT -5 teachermom said:

Once again......Saving4Norway .....I want to be like you when I grow up! Was hoping I could retire at 55, which was this year.....didn't happen. Maybe by the time I am 60. 

I have started doing financial coaching on the side and helping get people on a budget and debt payoff plan. Just started and have done some free consults to get my name out there. What it has done is made me realize even more how much people need this. I fight all the time to get Personal Finance as a required course in my high school and our state and people just don't get it. The need is huge!! Kind of frustrating. We have financial education standards in WA but they only apply to if you are teaching it, not that we have to teach it. Not sure what the situation is in your high schools and states but we definitely need this as a country. 

Still not sure my goals as I am trying to finish up my house to sell it and pay off the rest of my student loans. Then I can be debt free!!! I can't wait for that day!

On a side note, I am not sure if any others do this, but I have tracked my net worth the last couple of years. Nice to see it growing!!! Saw a lot of growth in my retirement. I think I have finally hit the point of exponential growth. Takes a long time to get to $100k for example, but each $100k after that comes faster and faster!! I was very late getting into the game. Started teaching at 35 and that was the first time I invested for retirement. Thus, why I can't retire yet.

Anyway....keep up the great work savers!! I will try to work on some goals, even smaller ones until my house is done. 

Teachermom

 we have WIR net worth tracking thread.....

[Saving4Norway]

Month	2021 Goals	Saved	% Met
B of Jan	2500	2500	100%
E of Jan	1	0	0%
B of Feb	2500	0	0%
E of Feb	1	0	0%
B of March	2500	0	0%
E of March	1	0	0%
TOTAL	7503	2500	33%

Saving4Norway 1/17/21 $2500 (Goal $7,503)