2021 Women in Red Savers

[seriousthistime]

Updates, finally.  So sorry it's been so long!  Thanks for your patience. 

Stars	Name	Savings	Goal	% Saved	Roses	Smilies
	Annie7	$67,800	$108,000	62.8%
	azucena	$23,323	$30,000	77.7%
	bobosensei	$6,980	$29,550	23.6%
	debthaven	16,100€	15,000€	107.3%
	forwardwego	$4,650	$15,000	31.0%
	nidena	$23,864	$145,000	16.5%
	nikiz628	$4,961	$7,750	64.0%
	paynointerest	$39,600	$69,000	57.4%
	plugginaway22	$4,916	$24,000	20.5%
	Rukh O'Rorke [1]	$14,081	$43,600	32.3%
	Rukh O'Rorke [2]	$14,268	$20,000	71.3%
	Saving4Norway  [1]	$7,560	$7,503	100.8%
	Saving4Norway [2]	$5,122	$7,503	68.3%
	sealy [1]	$5,000	$25,000	20.0%
	sealy [2]	$0	$1,378	0.0%
	seriousthistime	$17,814	$18,405	96.8%
	shanendoah [1]	$6,000	$4,000	150.0%
	shanendoah [2]	$8,500	$10,000	85.0%
	snapdragon	$4,855	$5,000	97.1%
	speechchick71	$1,200	$20,000	6.0%
	steph08	$24,116	$42,684	56.5%
	teachermom [1]	$5,248	$5,800	90.5%
	teachermom [2]	$450	$1,800	25.0%

[azucena]

seriousthistime - grandbaby in ICU >>>>>>>>>>>>>>>>> saver smilies

No one is questioning your priorities.

Looks like you're also managing to close in on a goal.  Kudos!

[shanendoah]

minnesotapaintlady - It's a specific "early saver" account. I just need to double-check all the rules on it, given our complex situation. It's possible I won't lose access to it, and then we just need to have a discussion about how she wants to access the money.

[plugginaway22]

I have not fallen off the rails, rather I have continued to stash money, just haven't kept up with how much each month. We have got to consolidate things to make it easier! I am lazy and continue to keep some in the credit union, some in our regular brick bank where checking account is, some in on-line Capital One money market account, some stocks that we play with, cash in the house, etc. I am building up our property tax escrow account since my income will go away sometime this year. Company will be bought out and I am retiring and very happy about that.

We have more cash than we have ever had in our 40 years of marriage because we want to live off of it prior to age 65 and Medicare and be able to qualify for ACA subsidies. Currently we have about 2 years of living expenses. 
Only getting .30% on the 50k in the money market account.

Looks like everyone is making great progress! So happy that everyone is vaccinated and things are feeling so much more positive on the Covid front.

[debthaven]

Very happy for you plugginaway22 ! And the slightest bit envious too, to be honest LOL. 

I had planned to use 5K to cut back next school year to ease into retirement. Now that I've finally reached my goal, I DON'T want to use that money for living expenses (except for summer when I don't have a choice).  

I WILL be able to cut back next semester ... just not quite as much as I'd hoped. 

PS You may have noticed that the rental reno loan in my signature is going up rather than down as it nears completion. We're OK with that, and keeping our savings intact. 

[sealy]

Savings started over.  Used the majority of my savings to pay off debt.  new savings 


Sealy 6/15/21 $8,000 (Goal $25,000)

I want to have 3 to 6 months in my emergency fund.  I think I have it.  My mortgage is almost $2,000 but I also have utilities that need to be paid. Should I change my goal to 10K?

[seriousthistime]

Update

Name	Start	Current	Goal	% Saved	Spent
Emergency Fund	$2,000	$2,000	$2,000	100.0%
Gifts	$14	$2,300	$2,300	100.0%
Travel	$2,310	$4,772	$5,000	95.4%
Property Tax	$2,785	$6,885	$5,500	125.2%	$2,728
Periodic Expense	$0	$1,945	$2,000	97.3%
Weekly Savings	$227	$730	$1,605	45.5%
Total	$5,560	$18,632	$18,405	101.2%

Serious this time, 5/8/2021, $18,632 (Goal $18,405)



Weekly Savings

				$5	$6	$7
$8	$9		$11		$13	$14
$15	$16	$17	$18	$19	$20	$21
	$23	$24				$28
$29	$30	$31	$32	$33	$34	$35
		$38	$39	$40	$41	$42
$43	$44	$45	$46

[seriousthistime]

May 8, 2021 2:20:52 GMT -5 sealy said:

Savings  started over.  Used the majority of my savings to pay off debt.  new savings 


Sealy 5/7/21 $6,140 (Goal $25,000)

I want to have 3 to 6 months in my emergency fund.  I think I have it.  My mortgage is almost $2,000 but I also have utilities that need to be paid. Should I change my goal to 10K?

Sealy, you have more expenses than just mortgage and utilities. Food?  Insurance?  Gasoline? 

Do you know what your average monthly expenses are, all in? I'd strive to save that amount for 3 months (and you may be very close already), and then change the goal to reflect 6 months of all living expenses. 

But that's just me. 

[sealy]

seriousthistime You are so right how did I forget about food.  I will work on increasing my EF to maybe 15K.  Great advice

[bobosensei]

I still need to update my roth 401k and hsa contributions for May.

Name	Current	Goal	% Saved	Spent
ROTH 401k	$1686.69	$9,500	17.75%	$0
ROTH IRA	$2500	$6,000	41.66%	$0
HSA	$1203.15	$3,550	33.89%	$0
Brokerage	$1100	$2,500	44%	$0
House Expenses	$1190	$8,000	14.9%	$1190
Total	$7,679.84	$29,550	25.99%	$0

bobosensei, 5/10/2021, $7,679.84 (Goal $29,550) 26% complete 

[nidena]

May 8, 2021 2:20:52 GMT -5 sealy said:

Savings started over.  Used the majority of my savings to pay off debt.  new savings 


Sealy 5/7/21 $6,140 (Goal $25,000)

I want to have 3 to 6 months in my emergency fund.  I think I have it.  My mortgage is almost $2,000 but I also have utilities that need to be paid. Should I change my goal to 10K?

Common monthly expenses:

mortgage/rent
homeowners/renters insurance (if not part of escrow)
vehicle payment
vehicle insurance
vehicle gas
water/trash
natural gas/propane
electric
internet
cell phone
gym membership
lawn care
groceries
toiletries
pet items
life insurance
clothing fund
misc

[snapdragon]

May 10, 2021 19:36:50 GMT -5 nidena said:

May 8, 2021 2:20:52 GMT -5 sealy said:

Savings started over.  Used the majority of my savings to pay off debt.  new savings 


Sealy 5/7/21 $6,140 (Goal $25,000)

I want to have 3 to 6 months in my emergency fund.  I think I have it.  My mortgage is almost $2,000 but I also have utilities that need to be paid. Should I change my goal to 10K?

Common monthly expenses:

mortgage/rent
homeowners/renters insurance (if not part of escrow)
vehicle payment
vehicle insurance
vehicle gas
water/trash
natural gas/propane
electric
internet
cell phone
gym membership
lawn care
groceries
toiletries
pet items
life insurance
clothing fund
misc

To add to this -- any prescriptions?

[Rukh O'Rorke]

UPDATE!

Rukh O'Rorke [1] Saving Goals for 2021

Account	Goal	Added	Saved	Percent
401k	$26,000	$984.00	$10,399.8	40%
HSA	$7,600	$296.15	$2,961.50	39%
EF	$10,000	$250.00	$2,500.00	25%
Total	$43,600	$1,530.15	$15,861.30	36%

Rukh O'Rorke [2] Multiyear EF Goal

$13,470.49(Start=$11,066.31 / Goal=$20,000)

10/26 paychecks for 2021. 


The market giveth and the market taketh awayeth. Did the usual contribution to the EF but still down nearly 1k due to market losses. Thems the breaks, kids.

TGIF is the only thing I have going for me right now....

 

[nidena]

Now that the CC is paid off and my only debts are the mortgage, the vehicle, and the rain gutters (0% until Aug 2022), I can increase my intentional savings.  I should be able to reach two savings goals by the end of Summer.

[paynointerest]

May 2021 update

Pay-no-interest: $47,900.00 (Goal: $69,000)

	Goal	Saved	% of Goal	Amt Spent
My 403b	$19,500	19,500	100%
My 457b	$19,500	3,500	18%
Tax Invest Acct	$6,000	2,900	48%
DH2020 Roth	$6,000	6,000	100%
MY2020 Roth	$6,000	6,000	100%
DH 403b	$12,000	10,000	83%
Total	$69,000	47,900	69%

I met my 403b savings goal in the time frame I was hoping for.  I contributed a lot to my 457b this month too.  The rest of year I'll focus on maxing out my 457b and taxable investment account.  We are in the process of a major bathroom remodel and DH is doing all of the hard work. We are combining two small bathrooms into one normal sized bathroom.  He is moving all of the plumbing, electrical, building the frame for the new walk in shower we are installing, and plans to install all of the tile and flooring.  I bet he is saving us close to $10K by doing all of the hard labor.  It is going to be the nicest room in our house when he is done!

I hope everyone is doing well.

[Saving4Norway]

Month	2021 Goals	Saved	% Met
B of April	2500	2500	100%
E of April	1	122	12200%
B of May	2500	2500	100%
E of May	1	0	0%
B of June	2500	2500	100%
E of June	1	0	0%
TOTAL	7503	7622	102%

Saving4Norway 6/2/21 $7622 (Goal $7,503)  

[paynointerest]

May 27, 2021 22:53:24 GMT -5 Saving4Norway said:

Saving4Norway 6/2/21 $7622 (Goal $7,503)   Congratulations on reaching your goal Saving4Norway!

[Rukh O'Rorke]

UPDATE!

Rukh O'Rorke [1] Saving Goals for 2021

Account	Goal	Added	Saved	Percent
401k	$26,000	$984.00	$11,383.8	44%
HSA	$7,600	$296.15	$3,257.65	43%
I-Bonds	$10,000	$600.00	$600.00	6%
MM/stocks	$10,000	$250.00	$2,750.00	28%
Total	$53,600	$2,130.15	$17,991.45	34%

Rukh O'Rorke [2] Multiyear EF Goal

$10,382.70 (Start=$11,066.31 / Goal=$20,000)

11/26 paychecks for 2021. 


I've added a new category of savings (I-bonds), upping my yearly goal quite a bit. If I keep with the day job and the RI I shoud be able to eke this out. I think! Relying on RI income for quite a few goals now! And - late in day for a year long goal, I'll see how it goes. I started with 500, and signed up for auto depos of 100/paycheck. Still need a plan to get to 10k by december, but that will hold as thinking about other things.

Changed EF to MM/stocks. MM is money market. They did well since last time, but I needed to tap into 5k of it to pay uncle sam. I was expecting that, given no tax paid on my RI income and put a higher withholding on W2. Need to fix that. still hurt a little to fork that over. Waiting on an RI check to replenish and get back to "par" in my mind. 

TGIF is the only thing I have going for me right now....

Still here, but this time with a longer weekend  

 

[seriousthistime]

Update

Name	Start	Current	Goal	% Saved	Spent
Emergency Fund	$2,000	$2,002	$2,000	100.0%
Gifts	$14	$2,302	$2,300	100.0%
Travel	$2,310	$5,000	$5,000	100.0%
Property Tax	$2,785	$7,345	$5,500	133.5%	$2,728
Periodic Expense	$0	$2,000	$2,000	100.0%
Weekly Savings	$227	$826	$1,605	51.5%
Total	$5,560	$19,475	$18,405	105.8%

Serious this time, 5/28/2021, $19,475 (Goal $18,405)



Weekly Savings

				$5	$6	$7
$8	$9		$11		$13	$14
$15	$16	$17	$18	$19	$20	$21
	$23	$24				$28
$29			$32	$33	$34
		$38	$39	$40	$41	$42
$43	$44	$45	$46

Soliciting ideas from all you wise folks. 

The only goal I haven't met so far is the Weekly Savings goal.  I don't want to just top that off and be done with it because I like the discipline of coming here with the expectation of savings every so often, and not just sit on what I have. (Coming here with the expectation of adding to savings keeps me mindful.)  So I will not get all of my   until the end of the year. 

I have been able to cash flow my spending on Gifts, Travel, and Periodic Expenses and haven't had to touch the amounts saved.  Long term, I'd like to replenish anything in those categories that I might spend, plus save more in some accounts.

Should I add some new accounts?  Increase the goals on the existing accounts? Do something entirely different?

[Rukh O'Rorke]

May 28, 2021 9:43:54 GMT -5 seriousthistime said:

Update

Name	Start	Current	Goal	% Saved	Spent
Emergency Fund	$2,000	$2,002	$2,000	100.0%
Gifts	$14	$2,302	$2,300	100.0%
Travel	$2,310	$5,000	$5,000	100.0%
Property Tax	$2,785	$7,345	$5,500	133.5%	$2,728
Periodic Expense	$0	$2,000	$2,000	100.0%
Weekly Savings	$227	$826	$1,605	51.5%
Total	$5,560	$19,475	$18,405	105.8%

Serious this time, 5/28/2021, $19,475 (Goal $18,405)



Weekly Savings

				$5	$6	$7
$8	$9		$11		$13	$14
$15	$16	$17	$18	$19	$20	$21
	$23	$24				$28
$29			$32	$33	$34
		$38	$39	$40	$41	$42
$43	$44	$45	$46

Soliciting ideas from all you wise folks. 

The only goal I haven't met so far is the Weekly Savings goal.  I don't want to just top that off and be done with it because I like the discipline of coming here with the expectation of savings every so often, and not just sit on what I have. (Coming here with the expectation of adding to savings keeps me mindful.)  So I will not get all of my   until the end of the year. 

I have been able to cash flow my spending on Gifts, Travel, and Periodic Expenses and haven't had to touch the amounts saved.  Long term, I'd like to replenish anything in those categories that I might spend, plus save more in some accounts.

Should I add some new accounts?  Increase the goals on the existing accounts? Do something entirely different?

Maybe have something like an overflow account? and then that would siphoned to gifts, travel, etc. whenever those went below the threshold/goal amount?

[Saving4Norway]

May 28, 2021 5:44:49 GMT -5 paynointerest said:

May 27, 2021 22:53:24 GMT -5 Saving4Norway said:

Saving4Norway 6/2/21 $7622 (Goal $7,503)   -banana-Congratulations on reaching your goal Saving4Norway!

Thanks! I'm just taking it one quarter at a time.

[Saving4Norway]

May 28, 2021 9:43:54 GMT -5 seriousthistime said:

Update

Name	Start	Current	Goal	% Saved	Spent
Emergency Fund	$2,000	$2,002	$2,000	100.0%
Gifts	$14	$2,302	$2,300	100.0%
Travel	$2,310	$5,000	$5,000	100.0%
Property Tax	$2,785	$7,345	$5,500	133.5%	$2,728
Periodic Expense	$0	$2,000	$2,000	100.0%
Weekly Savings	$227	$826	$1,605	51.5%
Total	$5,560	$19,475	$18,405	105.8%

Serious this time, 5/28/2021, $19,475 (Goal $18,405)



Weekly Savings

				$5	$6	$7
$8	$9		$11		$13	$14
$15	$16	$17	$18	$19	$20	$21
	$23	$24				$28
$29			$32	$33	$34
		$38	$39	$40	$41	$42
$43	$44	$45	$46

Soliciting ideas from all you wise folks. 

The only goal I haven't met so far is the Weekly Savings goal.  I don't want to just top that off and be done with it because I like the discipline of coming here with the expectation of savings every so often, and not just sit on what I have. (Coming here with the expectation of adding to savings keeps me mindful.)  So I will not get all of my   until the end of the year. 

I have been able to cash flow my spending on Gifts, Travel, and Periodic Expenses and haven't had to touch the amounts saved.  Long term, I'd like to replenish anything in those categories that I might spend, plus save more in some accounts.

Should I add some new accounts?  Increase the goals on the existing accounts? Do something entirely different?

Serious, I'd suggest beefing up your Emergency Fund. I think the recommendation for Emergency Funds are something like 3-6 months of living expenses.

[plugginaway22]

Cold and rainy here in the mid-Atlantic so it really does not feel like the kick off to summer and the arrival of June!

The only thing I saved this month was a very unexpected federal tax refund of $5300! all the result of Covid/DH layoff/return to work with PPP monies/etc...and me adjusting my federal WH last summer in July when we owed so much.

We have been spending $$: Patio set, mulch, plants, new flooring in 2 rooms, Home Goods trip for patio pillows, candles, tablecloth, etc.

Looking forward to a much less stressful summer with hopefully some trips happening soon!
Good luck to all the savers who continue to motivate me.

[nidena]

The best part about now being able to focus on savings is that I can help out friends when they're in a pinch.  Sent some money via paypal to a friend whose new car was totaled just a few days ago and who had to come out of pocket for a new one.

[seriousthistime]

Thanks for the ideas, Rukh O'Rorke and Saving4Norway.  

I have 6+ months of living expenses in a separate money market account that I don't track here.  I'm insulated from job loss because I'm retired and collecting a couple of pensions plus Social Security. Catastrophic medical bills?  I have Medicare plus retiree health insurance.  Long term custodial care is a worry but I hope I'm years from having to consider a move to a nursing home. The EF in my chart is for smallish unpredictable emergencies. I also have a Household Fund (more for improvements/decorating/garden plants) that I don't track here, so I'm good with maintaining $2,000 in that account. 

An overflow account sounds like a good idea. 

I've also been thinking about adding an account to help with copays and deductibles for my grandson's care after he's discharged from the hospital.  His insurance has a $3,000 out of pocket maximum which of course was met on the first day of the year. NICU is not cheap! But some non-hospital expenses are either not covered or are covered with a hefty deductible that does not go to meet the annual maximum out of pocket, so they will have those expenses when he is discharged.

Replenishing the travel account is coming up sooner rather than later.  

[seriousthistime]

Savers, it's the end of the month.  Again.  How did that happen

Please post your updates by Thursday, June 3.  Thank you. 

[nidena]

Item                                 Goal          Current

3-6 Months                        $6,000       $838.13  (I expect to complete this by Sept 21)
Home Improvements(1)      $15,000    $74.94 (this is going to be in constant flux this summer)
CD                                    $1005       $1000.91
Funeral Travel Expenses      $1,000      $385  (I expect to complete this by Jul 21)
TSP                                  $10,000     $1087.97(passive savings)
Schwab Roth                     $57,000     $1500
IRA-Rollover                      $60,000     $15,328.33
Annuity xfer in 2023                           $5,430.53

Total                               $145,005  $25,645.81

Nidena 5/30/2021 $25,645.81 (Goal $145,000.00 WIRS20 of 2020)

edited for formatting. 

[Saving4Norway]

Month	2021 Goals	Saved	% Met
B of April	2500	2500	100%
E of April	1	122	12200%
B of May	2500	2500	100%
E of May	1	29	2900%
B of June	2500	2500	100%
E of June	1	0	0%
TOTAL	7503	7651	102%

Saving4Norway 6/2/21 $7651 (Goal $7,503)  

[snapdragon]

Snapdragon Update 06-02-21 - $4989.96 / $5000

Car/House $ 4989.96 / $5000

New Totals $ 4989.96 / $5000


I am basically there! I can leave the account alone and interest should get me over the top by the end of the year. I have to think about what I am going to do in the future. I can put money into my HSA ant maybe work on that that for the rest of the year. Just not sure.

Everyone take care!

[seriousthistime]

Update

Name	Start	Current	Goal	% Saved	Spent
Emergency Fund	$2,000	$2,002	$2,000	100.0%
Gifts	$14	$2,302	$2,300	100.0%
Travel	$2,310	$5,000	$5,000	100.0%
Property Tax	$2,785	$7,345	$5,500	133.5%	$2,728
Periodic Expense	$0	$2,000	$2,000	100.0%
Weekly Savings	$227	$826	$1,605	51.5%
Total	$5,560	$19,475	$18,405	105.8%

Serious this time [1], 5/28/2021, $19,475 (Goal $18,405)

Serious this time [2], 6/2/2021, $1,000 (Goal $10,000)



Weekly Savings

				$5	$6	$7
$8	$9		$11		$13	$14
$15	$16	$17	$18	$19	$20	$21
	$23	$24				$28
$29			$32	$33	$34
		$38	$39	$40	$41	$42
$43	$44	$45	$46

Thank you for the ideas about adding or increasing savings goals.  I added a separate line item goal of $10,000 to be used for overflow to replenish accounts that will drop as money is spent, and for medical bills for my grandson.