2023 Women in Red Savers

[azucena]

Mar 3, 2023 12:04:39 GMT -5 azucena said:

Payday update and some of this is ibond interest as those are part of my savings plan. Going thru a messy budgeting patch pulling back old cds and getting ready for more ibonds and capitol one cd.


3/3/23 update Azucena $20,953 of $40,000 goal (52%)
thinking my stretch goal will be $50,000; goes along with my goals of limiting lifestyle creep and beefing up college savings.

Dust has settled from my bonus late March (more than expected) and our egress window install (more expensive than expected). Plus a few payday savings dumps.

Cap one cd has earned $332 already. Was going to update my ibond interest but the site is bombed this morning. I'm counting interest earned in both as added savings. So fun to watch my savings actually earn something. Gives me an incentive boost to keep adding.

Def going to push goal to $50k so we don't get tempted to spend too much. Reporting here adds the accountability needed.

4/28/23 update Azucena $37,256 of $50,000 goal (75%)

[TheOtherMe]

I tied up too much money in CDs.  I can't do a repair unless I pull money from one of the CDs.  I need to find out what the penalty is.

[Rukh O'Rorke]

Apr 28, 2023 8:00:26 GMT -5 azucena said:

Mar 3, 2023 12:04:39 GMT -5 azucena said:

Payday update and some of this is ibond interest as those are part of my savings plan. Going thru a messy budgeting patch pulling back old cds and getting ready for more ibonds and capitol one cd.


3/3/23 update Azucena $20,953 of $40,000 goal (52%)
thinking my stretch goal will be $50,000; goes along with my goals of limiting lifestyle creep and beefing up college savings.

Dust has settled from my bonus late March (more than expected) and our egress window install (more expensive than expected). Plus a few payday savings dumps.

Cap one cd has earned $332 already. Was going to update my ibond interest but the site is bombed this morning. I'm counting interest earned in both as added savings. So fun to watch my savings actually earn something. Gives me an incentive boost to keep adding.

Def going to push goal to $50k so we don't get tempted to spend too much. Reporting here adds the accountability needed.

4/28/23 update Azucena $37,256 of $50,000 goal (75%)

75% already?? Kudos!!

[azucena]

May 3, 2023 10:11:12 GMT -5 Rukh O'Rorke said:

Apr 28, 2023 8:00:26 GMT -5 azucena said:

Dust has settled from my bonus late March (more than expected) and our egress window install (more expensive than expected). Plus a few payday savings dumps.

Cap one cd has earned $332 already. Was going to update my ibond interest but the site is bombed this morning. I'm counting interest earned in both as added savings. So fun to watch my savings actually earn something. Gives me an incentive boost to keep adding.

Def going to push goal to $50k so we don't get tempted to spend too much. Reporting here adds the accountability needed.

4/28/23 update Azucena $37,256 of $50,000 goal (75%)

75% already?? Kudos!!

Thanks Rukh. Largest bonus of my career. Proud that we saved as much of it as we did given the egress costs were higher than expected. Staring college costs in the face in 3 yrs. And it's beginning to sink in that we'll likely need a third vehicle when DD14 turns 16 next summer and we all know how crazy used cars cost. Between her age and her theater ambitions, there isn't much daylight for a part time job. She's doing some babysitting but doesn't seem to enjoy it and we are requiring her to save half to build up savings for car and/or college.

Honestly, I'd give a good percentage of the money back if work would become less stressful. Most days right now, it doesn't seem worth it.

[Rukh O'Rorke]

progress is ongoing!
.....
Update!

Vehicle	Goal	Saved so far	Percent of Goal
401k	30,000	9,675	32%
SepIRA	5,250	5,250	100%
HSA	4,850	1,575	32%
IBonds	10,000*	12,500	125%
treasuries	10,000*	0	0%
taxable	5,000	1,000	20%
Total	65,100*	30,000	46%

This is 9 out of 26 paychecks for 2023....35% of year. So overall, looks like I am ahead, but there won't be much rukh, inc money for the rest of the year, I got my big payday from my largest project and that is what is funding the extra savings. 401k is behind because of unknown bonus amount in June, but not sure on HSA. Maybe due to employer putting a bit in the account as well, so my max is max-employer contribution? Anyhoo, something to keep my eye on but unlike 401k, I don't think I can adjust during the year so I guess nothing to keep my eye on!!


Have added in maxing my sepIRA after finding out amount from tax prepper. This raises my total goal amount and brings me out to exactly 30k saved, so an auspicious day for an unpdate!

*Tax return was 2500, so I was able to put that into additional ibonds savings. I may reduce my treasury goal by 2500 to compensate, but I have not added the 2500 ibonds in the goals figures, so these may change.

Taxable savings is really behind due to prioritizing ibonds. Not sure if I'll be able to catch up on that or not, just have 250 autodeposited monthly, will revisit later.

With the agressive savings the past month putting into unaccessible vehicles such as sepira and ibonds......I find myself unexpected in a some credit card debt! Need to focus on paying that off and hopefully escape without any finance chages. Have some flex reimbursement claims in, one small rukh inc job, and the bonus coming up, I also put something pricey on my credit card for someone else who paid me right away so that money can potentially help me float the balance another month without interest before my charges catch up with me. Disappointed that all the upcoming inflows are already spent!  Will also need to tighten up the day to day till I get back to even keel, and then will revisit the treasuries and taxable goals...

Anyhoo - always a winding road! going to bask in the glow of my 30k today and think about the rest later....

[seriousthistime]

Update

Name	Start	Goal	Saved	% Saved	Spent
Emergency Fund	$0	$3,000	$8	0.0%
Gifts	$0	$3,000	$8	0.0%
Travel	$0	$8,000	$2,086	26.1%	$800
Property Tax	$0	$6,200	$1,851	29.9%
Periodic Expense	$0	$3,500	$12	0.0%
Weekly Savings	$0	$1,898	$736	38.8%
Total	$0	$25,598	$4,701	18.4%

Seriousthistime [1], 5/3/23, $4,701 (Goal $25,598)

Seriousthistime [2], 5/3/23, $2,346 (Goal $10,000; saved $5,002, spent $2,658) (*DGS OOP Medical)


Weekly Savings chart:

	$12	$13		$15	$16
$18		$20		$22	$23	$24
$25	$26		$28		$30	$31
		$34	$35	$36	$37	$38
	$40	$41	$42	$43	$44	$45
$46	">	$48	$49			$52
			$56	$57	$58	$59

Monthly savings (not tracked above):

I'm skipping April for now.  I hope to cross off the month of May by sometime mid-month.  

January	February	March
April	May	June
July	August	September
October	November	December

[debthaven]

Debthaven: 9 May 2023: 28,500 euros (Goal: 30K by 15 June/10K for windows/paint)

[teachermom]

Just plugging away and socking away the money for retirement. We are in the process of building the shop/garage much earlier than planned so might have to shift some money from the land to help pay for it, and then focus all the money to the land to rebuild. Excited though to have it done and be able to park my car in the regular garage! Whooop!

Goals:

Medical Savings $1000, 5/1/2023 (Bal. $2,505.25, 5/4/2023, Goal $30,000 by 9/1/2025)

New Car $500, 5/1/2023 (Bal. $7,277.58.11, 5/4/2023, Goal $50,000)

Car Maintenance $100 5/1/2023 (Bal. $2,035.17)

Tires $100 5/1/2023 (Bal. $613.09)

Christmas & Gifts $200 5/1/2023 (Bal. $1,211.97)

New Home $500, 5/1/2023 (Bal. $15,252.99, 3/3/2023, Goal $200,000)

Land $300, 5/1/2023 (Bal. $54,703.48, 5/4/2023, Goal $100,000)

Garage & Shop $500, 5/1/2023 (Bal. $15,978.90, 3/3/2023, Goal $25,000)

Keep up the great savings!!

Teachermom

[teachermom]

Hey all....feel like this group is dying off. That's sad been a member since before it was on here. What can we do to spark interest again? Any ideas

Teachermom

[debthaven]

teachermom apart from "plugging" this thread on WIRR, I don't know what else we can do. There are a small but loyal bunch of us!

[debthaven]

I SHOULD hit my goal of 15 June (30K saved, 10K for the windows/reno).

But I'm struggling to figure the rest out. I want to keep saving, but I also need to pay DS2 back for his 7K loan to me (for the windows/reno).

DH (rightly) pointed out that I need to find an amount and then "set it and forget it" until that loan to DS2 is paid off. If I keep changing the amount I will drive DS2 crazy. I do NOT want to do that.

So I'm hesitating between repaying DS2 350/500/700/1000 per month. I'm thinking 500/mo, which should also allow me to save 1K/month MOST months (but not every month) till the end of 2023. 

DH thinks 350/mo is plenty, but that loan to DS2 bugs me, so I want it gone sooner rather than later. To be clear, DS2 wants to be repaid within 3 or 4 years, ideally 3. But that's too long for me.

Any thoughts? Does 500/mo seem good to you? 

[TheOtherMe]

It does to me.

[Rukh O'Rorke]

May 28, 2023 18:50:11 GMT -5 debthaven said:

I SHOULD hit my goal of 15 June (30K saved, 10K for the windows/reno).

But I'm struggling to figure the rest out. I want to keep saving, but I also need to pay DS2 back for his 7K loan to me (for the windows/reno).

DH (rightly) pointed out that I need to find an amount and then "set it and forget it" until that loan to DS2 is paid off. If I keep changing the amount I will drive DS2 crazy. I do NOT want to do that.

So I'm hesitating between repaying DS2 350/500/700/1000 per month. I'm thinking 500/mo, which should also allow me to save 1K/month MOST months (but not every month) till the end of 2023. 

DH thinks 350/mo is plenty, but that loan to DS2 bugs me, so I want it gone sooner rather than later. To be clear, DS2 wants to be repaid within 3 or 4 years, ideally 3. But that's too long for me.

Any thoughts? Does 500/mo seem good to you? 

I'd do 1k a month and get it paid off asap, then 500 to your savings.

[debthaven]

Thanks so much TheOtherMe.

I told DS2 that I'd be reimbursing him 500/m starting in September. 

[debthaven]

Too late Rukh O'Rorke . Plus I can't have it both ways ... you keep telling me not to take on more work. It's either one or the other. Plus I would NOT have been able to pay him 1K per month every month, and as DH says, DS2 wants me to "set it and forget it."

I can easily pay DS2 back 500/m, and I'll be done in 14 months. That's a LOT less than his max of 48 months. 

I am already/still kicking myself for having taken fewer hours on in fall semester, but it is what it is. 

[Rukh O'Rorke]

May 28, 2023 19:33:17 GMT -5 debthaven said:

Too late Rukh O'Rorke . Plus I can't have it both ways ... you keep telling me not to take on more work. It's either one or the other. Plus I would NOT have been able to pay him 1K per month every month, and as DH says, DS2 wants me to "set it and forget it."

I can easily pay DS2 back 500/m, and I'll be done in 14 months. That's a LOT less than his max of 48 months. 

I am already/still kicking myself for having taken fewer hours on in fall semester, but it is what it is. 

then its done!

[azucena]

DH - agree that level payments makes it easier and $500 seems right. maybe plan to make the last two payments $1k each to finish it off in a yr.

[debthaven]

I like that idea azucena !

[azucena]

Apr 28, 2023 8:00:26 GMT -5 azucena said:

Mar 3, 2023 12:04:39 GMT -5 azucena said:

Payday update and some of this is ibond interest as those are part of my savings plan. Going thru a messy budgeting patch pulling back old cds and getting ready for more ibonds and capitol one cd.


3/3/23 update Azucena $20,953 of $40,000 goal (52%)
thinking my stretch goal will be $50,000; goes along with my goals of limiting lifestyle creep and beefing up college savings.

Dust has settled from my bonus late March (more than expected) and our egress window install (more expensive than expected). Plus a few payday savings dumps.

Cap one cd has earned $332 already. Was going to update my ibond interest but the site is bombed this morning. I'm counting interest earned in both as added savings. So fun to watch my savings actually earn something. Gives me an incentive boost to keep adding.

Def going to push goal to $50k so we don't get tempted to spend too much. Reporting here adds the accountability needed.

4/28/23 update Azucena $37,256 of $50,000 goal (75%)

Monthly update
5/31/23 update Azucena $42,060 of $50,000 goal (84%)

[debthaven]

I hate this. My salary is paid at the end of the month, but my retirement is paid by the 12th of the following month. I've paid my salary into our household account to cover my half of HH expenses.

Now I just need to hang around for 9-12 more days waiting for my retirement income to hit my account so I can transfer it to my savings and hopefully hit my savings goal.

[Rukh O'Rorke]

May 31, 2023 17:43:29 GMT -5 debthaven said:

I hate this. My salary is paid at the end of the month, but my retirement is paid by the 12th of the following month. I've paid my salary into our household account to cover my half of HH expenses.

Now I just need to hang around for 9-12 more days waiting for my retirement income to hit my account so I can transfer it to my savings and hopefully hit my savings goal.

It'll get there.....

Might take some time to get used to the new schedule

[azucena]

May 31, 2023 17:43:29 GMT -5 debthaven said:

I hate this. My salary is paid at the end of the month, but my retirement is paid by the 12th of the following month. I've paid my salary into our household account to cover my half of HH expenses.

Now I just need to hang around for 9-12 more days waiting for my retirement income to hit my account so I can transfer it to my savings and hopefully hit my savings goal.

I have a second checking account that I use as a holding place for upcoming big bills, balance needed to pay credit cards, and spending/bill money between paychecks.

I'm paid biweekly, DH is paid 15th and 30th so sometimes we overlap and sometimes we don't. I've found we save more money if each Friday I look at the budget for the week ahead, see what bills are due and think about how much we might spend (usually $500 to cover small bills, food, gas and misc spending) and then move any extra money to savings. If the next Friday isn't a payday, I move the money we'll need for that week into the holding account. This helps us not to look at our main account, see higher balance, feel flush, and spend it.

My paycheck is bigger so sometimes DH's isn't enough to cover the week ahead so I can stash money from mine ahead of time in the holding account.

[debthaven]

azucena we only get paid once/month here, whether it's salary or pension. Patience is not my strong point lol.

Debthaven: 1 June 2023: 29,200 euros (Goal: 30K by 12 June/10K for windows/paint)

The smaller pension came in today. The main pension will come in 6-12 June.

[seriousthistime]

Update

Name	Start	Goal	Saved	% Saved	Spent
Emergency Fund	$0	$3,000	$8	0.0%
Gifts	$0	$3,000	$431	14.4%	$423
Travel	$0	$8,000	$4,902	61.3%	$3,616
Property Tax	$0	$6,200	$3,494	56.4%	$3,033
Periodic Expense	$0	$3,500	$12	0.0%
Weekly Savings	$0	$1,898	$862	45.4%
Total	$0	$25,598	$9,709	37.9%

Seriousthistime [1], 6/6/23, $9,709 (Goal $25,598)

Seriousthistime [2], 6/6/23, $2,346 (Goal $10,000; saved $5,002, spent $2,658) (*DGS OOP Medical)


Weekly Savings chart:

	$12	$13		$15	$16
$18		$20		$22	$23
$25	$26		$28		$30	$31
		$34	$35	$36	$37	$38
	$40	$41	$42	">	$44	$45
$46	">	$48	$49			$52
			$56	$57	$58

Monthly savings (not tracked above):

Falling behind on this.  Home updates and repairs* are being cash-flowed, so the cash is not hitting my savings first.  So far, the money spent on updates and repairs exceeds what I would deposit for April, May, and June, so I don't feel like such a failure. 

* I had the popcorn texture removed from my ceilings, repaired, and repainted. My fireplace wall update will be done in a few hours.  I'll post a picture in the Decluttering thread.  

January	February	March
April	May	June
July	August	September
October	November	December

[debthaven]

Debthaven: 7 June 2023: 30,000 euros (Goal: 30K by 10 June/10K for windows/paint)

I did it!!!

[Rukh O'Rorke]

Jun 6, 2023 15:49:47 GMT -5 debthaven said:

Debthaven: 7 June 2023: 30,000 euros (Goal: 30K by 10 June/10K for windows/paint)

I did it!!!

cool!

[Rukh O'Rorke]

Update!

Vehicle	Goal	Saved so far	Percent of Goal
401k	30,000	11,825	39%
SepIRA	5,250	5,250	100%
HSA	4,850	1,925	39%
IBonds	10,000*	12,500	125%
treasuries	10,000*	0	0%
taxable	5,000	1,000	20%
Total	65,100*	32,500	50%

11 out of 26 paychecks for 2023....42% of year, 50% of savings goals.

Got my bonus and raise information, bonus check is less than 3k, not to look a gift horse in the mouth.....but was hoping for more. I'm still kind of struggling after putting 12.5k into the ibonds, have had a larger cc balance than I would like and have been finessing for a while to avoid any interest charges....and for last 6 weeks hoping the bonus will save me.

SPOILER: Click to show

It won't

Have adjusted the 401k so that I will be on track to max by end of year. Thinking that after those go through (reg and catch up), take home will be 100 more every other week with the raise. I know my boss did good for me/given the organization/organization finances. I know I'm making decent money, even for the higher COL.....it just doesn't seem to every be enough! lol. 

Will be slapping a small, but likely somewhat pricey vacation on the card too. Some more vet bills coming up too. Feeling stressed, I know I shouldn't. It's just money, I have plenty coming in. I'll work it out. Even if I got fired tomorrow, I've got funds and options. I feel like small blips in finances trigger me to stress in the past where I didn't have options and savings and such. What if I carried a balance for a month or two? Not the end of the world....

On the other hand, better figure it out before those student loans come knocking!!

With my increase in contributions, and my upgraded salary, will be putting nearly 150 more per paycheck into the 401k. Will hold on to that  LOL! I'm back to checking when a 3 paychek month is on the calendar......not till september....no RI projects.....time to buckle up a bit.....

[debthaven]

I have been thinking about my future savings goals. I will probably take the summer off saving so I can pay my share of our vacation rental. Plus I earn almost nothing in Aug/Sept.

School starts in early September but I only get paid in Oct.

ETA: I'd also love to be able to reimburse DS2 700/mo as of Sept, but I don't know if that's feasible. I really can't see myself doing that many hours again but we'll see. 

[seriousthistime]

Update

Name	Start	Goal	Saved	% Saved	Spent
Emergency Fund	$0	$3,000	$8	0.0%
Gifts	$0	$3,000	$431	14.4%	$423
Travel	$0	$8,000	$4,902	61.3%	$3,616
Property Tax	$0	$6,200	$4,494	72.5%	$3,033
Periodic Expense	$0	$3,500	$12	0.0%
Weekly Savings	$0	$1,898	$924	48.7%
Total	$0	$25,598	$10,771	42.1%

Seriousthistime [1], 6/19/23, $10,771 (Goal $25,598)

Seriousthistime [2], 6/19/23, $2,346 (Goal $10,000; saved $5,002, spent $2,658) (*DGS OOP Medical)


Weekly Savings chart:

	$12	$13		$15	$16
$18		$20		$22	$23
	$26		$28		$30	$31
		$34	$35	$36		$38
	$40	$41	$42	">	$44	$45
$46	">	$48	$49			$52
			$56	$57	$58

Monthly savings (not tracked above):

I was finally able to make a deposit into my monthly savings.  I hope, but am not optimistic, that I'll be able to make up for those months I missed. 

January	February	March
April	May	June
July	August	September
October	November	December

[debthaven]

seriousthistime even if you don't make up those savings, that's OK!!! You cash-flowed a LOT of beautiful work in your new home! 

I'm committed to my (great!) schedule for next fall semester. As I posted on the decluttering thread, I'm doing Mon afternoons at Job 2, Tuesday all day at Job 1, and Thursdays WFH. I'll only be at school 2 days/week, and I'll be off Wed and Fri.

I'm still undecided about the Spring 2024 semester. I have till November to decide.

But then I'm done teaching (either Dec 2023 or May 2024).  

The shutters are STILL not in!!!