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I own a house now. Well, I will own a house in three days when the final mortgage payment clears. So there is a lovely spot in the corner that the bank still owns. I paid it off about twice as fast as the bank would've liked, but gently caress paying interest! Everytime I got a raise I increased the payment by that amount, everytime I got a profit sharing cheque or other windfall, it went against the principle. It feels weird.
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Aug 4, 2015 20:31
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Congrats! You going to put all that money towards taxable investments now, or a rental property, or maybe hookers and drugs?
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Aug 4, 2015 20:39
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Nail Rat posted:Congrats! You going to put all that money towards taxable investments now, or a rental property, or maybe hookers and drugs? So many choices! I'm actually hoping to put a good portion of it into a TFSA, and use that to buy stocks that pay dividends. The rest is going into renovations for now.
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Aug 4, 2015 23:17
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Wife's salary just went back to normal after being severely reduced the last year due to her maternity leave. We had saved up $20k to help cover the mortgage this past year but barely touched, it so we have it sitting there ready for the next kid so she can take a whole year off. We haven't even really missed the extra $1200/mo so we're gonna pile it into my remaining student loan and be debt free except for mortgage by April. 
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Aug 12, 2015 00:58
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A while ago, I increased my mortgage payment by 10%. I just looked at the details, and from an original amortization of 216 months, it's down to 180. That difference of 36 months has been eliminated over the course of 12. 
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Aug 13, 2015 02:43
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anitsirK posted:A while ago, I increased my mortgage payment by 10%. I just looked at the details, and from an original amortization of 216 months, it's down to 180. That difference of 36 months has been eliminated over the course of 12. Feels good, don't it? We paid off our 40 year loan in 5 years by making extra payments.
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Aug 15, 2015 19:10
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poopinmymouth posted:Feels good, don't it? We paid off our 40 year loan in 5 years by making extra payments. There are *40* year mortgages?
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Aug 15, 2015 19:50
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TequilaJesus posted:There are *40* year mortgages? In Iceland, there are. It was an extremely profitable (for the bank) loan, but we knew we were going to pay it off early, so it actually made the most sense for us to take this one.
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Aug 15, 2015 22:20
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I have a net worth greater than -$5,000, and I'm on track to break $0 by the end of the year. Up from like -$30,000 18 months ago.
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Aug 15, 2015 22:31
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SpecialK2 posted:I have a net worth greater than -$5,000, and I'm on track to break $0 by the end of the year. Up from like -$30,000 18 months ago. Congrats! Stay on that track and you'll do well. Any thoughts on what to do when you're debt free?
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Aug 27, 2015 20:05
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FREEDOM!! I put a big emphasis on paying off the credit card debt this year and not taking a long haul holiday (evidenced in the past by the two spikes as I stockpiled cash for currency exchange rather than pay down the cards) Feels good to finally not have multiple balances to service. Next steps are to increase my emergency fund from £1,000 to 3 months of expenses and then get in on the ground floor of the Help to Buy ISA when the scheme opens in December.
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Aug 30, 2015 14:31
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Doccykins posted:FREEDOM!! Congrats  What was your debt level at its highest point?
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Aug 30, 2015 15:10
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The highest y axis marker on that graph is £4,000 (about $6,150 according to xe) as it's showing end of month figures but it was higher than that and closing on £5,000 at the point I got back from the US in November. I kept rolling fresh debt into 0% balance transfers and dividing the balance by the number of months in the 0% interest period so haven't paid a penny of interest since setting up the last one at the end of 2014. Edit: and thanks! BFC and even the Slow Motion playbook of What Not To Do has really helped me over the last year or so get my financial life sorted out 
Doccykins fucked around with this message at 15:29 on Aug 30, 2015 |
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Aug 30, 2015 15:24
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Ouroborus posted:Congrats! Stay on that track and you'll do well. Thats still a ways off unfortunately. But not having a negative net worth is the next big goal since my last two student loans are about $7k each and wont get paid off until mid-late 2016. Focusing on short and medium term goals is helpful for keeping me on track though,
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Sep 5, 2015 15:48
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One set back financially is the slip that happened on my property. Now I need to spend a lot on a retaining wall to make the land stable. I got a crappy payout from the government department responsible but I noticed that made a number of mistakes in the accuracy of their assessment. I got a surveyor to to produce a accurate plan which involves a lot more land, and on top of that I've quoted some legislation showing they've measured the distance from my house incorrectly. I should be able to get a much larger payout (it won't cover all the costs but it's better than nothing). Then mum gave me a decent chunk of money as a birthday gift and that should be enough to cover some rock anchors. By the end of all this I should have more usable land and an area where I'm thinking of growing either stone fruit or berries (the birds will massacre these most likely but I'll do it anyway). On top of that after losing an employee I'm covering all the work myself and my income has gone up a lot.
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Sep 12, 2015 10:19
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I took a promotion in February which increased my pay ~35%. Today I got offered another promotion which would allegedly double my pay. 2015 is my year. 🙌
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Sep 17, 2015 17:09
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baram. posted:I took a promotion in February which increased my pay ~35%. Today I got offered another promotion which would allegedly double my pay. 2015 is my year. 🙌 Noice. Good work!
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Sep 17, 2015 20:52
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Budget control counts as an incremental improvement, right? Slowly but surely reeling in that ridiculous overspending on food, and exchanging eating out for eating in. It's not perfect but it's progress! And the grocery budget included a trip to Costco for such things as 10lbs of lean ground beef, 2 dozen chicken breasts, and enough TP/paper towels/garbage bags to last until the end of days.
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Sep 27, 2015 16:37
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First paid work in over a year, helping move furniture and painting a friend's shop That money is basically gone already after paying rent and buying groceries this week, but feels so drat good to finally have an entry in the black on my budget. Hoping he throws more paid work my way in the future, although he hosts WWOOFers and usually gets stuff like that done for free, so not really holding my breath there. Can't wait until the term is over next month and I'm free for the summer to look for work more seriously! Also, my first batch of beer is coming along nicely. Look forward to paying ~AU$27 for ingredients to make ~54 beers, rather than ~$17 for a six pack at the bottleshop. Kinda off the sauce for a while so I can get in better shape, but nice to have around for company. drat Bananas posted:Budget control counts as an incremental improvement, right? Yeah, Costco and other bulk purchases can really mess with the appearance of a budget. I use Toshl and mainly look at weekly expenses, so I've split up recurring monthly charges (cellphone, Spotify premium) into weekly ones. Food I just sorta have to ¯\_(ツ)_/¯, although I do make a note on the entry if it was a bulk purchase, and write something to that effect in my "financial" section on Sunday when I sit down to do my weekly review.
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Sep 28, 2015 01:36
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I told my boyfriend that I could not accompany him on a trip to Los Angeles because I am focusing on saving money this year. (as in, I'm a 27 year old with only $500 of emergency savings) It should be a simple thing but it was a really big step for me.
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Sep 29, 2015 00:15
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I just looked a little closer at my YNAB budget, and saw for the umpteenth time that I've got a balance in my "rent" category that totals one month's rent. And that this month's rent had already been paid. This time it finally dawned on me that this means I've actually had a month's rent sitting unnoticed in my checking account for god knows how long. Suddenly a one-month overall buffer looks like it's within reach.
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Sep 29, 2015 02:13
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When I signed my mortage in 2007, it was set to end in 2036. Today, I signed the refinancing that makes sure it at worst ends in 2024, more likely in 2021 if I keep getting my finances straight.
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Oct 5, 2015 21:05
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I told my boyfriend I couldn't go on a vacation with him until I got my money in order. Saying "no" to travel or boyfriend stuff is a big step for me.
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Oct 6, 2015 04:14
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I just got a new job that pays better. My last job was willing to pay me more to keep me, but the thing that really sealed the deal for me is the benefits at my new job. They contribute 3% of my salary to a 403(b) regardless of whether or not I contribute anything, and beyond that they match up to 5%, so they'll contribute up to 8%. My last job would only match 50% up to 3% of my salary, so at most 1.5% of my annual sallary. Plus more vacation, paid sick days, more paid holidays, way better insurance, and year end profit sharing. On top of that, old job really didn't want me to leave, so they switched me to part time/hourly and are going to let me go in whenever I want to review the work of the person replacing me to help with the transition. Basically they're going to let me go in and chit chat with the people I liked working with for $20/hr.
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Oct 7, 2015 02:21
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I also just got a new job after a couple months of unemployment. It's my first job that isn't a contract position. It's salaried... and without insane overtime. For the first time in my life, I have benefits from my job instead of through my parents/husband. In six months, I can start doing 401K contributions, and they have 3% matching. You bet I'll be maxing out. 33K a year take-home may not seem like much, but most of that is going straight into savings because my husband's income covers our expenses. (Also, I don't have to deal with whiny engineers asking me for miracles! I am so glad I'm not an office manager anymore.)
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Oct 14, 2015 21:08
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I applied for a promotion posting on the program I support at work, interviewed really well and go the position! 12% raise and a new organizational group. Also I can finally drop the "acting" title and actually get paid for my level of responsibility. At the same time, Wife just got notified she got the management position she applied for which will take her full time instead of part-time with about $1.00/hr raise so that's effectively a 50% increase in income from her end. I'm pretty jazzed on all this. 
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Oct 16, 2015 22:25
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My revolving credit account on the house has finally been paid off. This is temporary because I still need to build a retaining wall but this is significant progress as that eliminates those interest payments for a while. Also I will get a little bit of interest from my savings accounts now. I also have enough cash to cover all expenses without using revolving credit. Just remember revolving credit is good when you go from 20% equity to 36% equity in 18 months.
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Oct 22, 2015 23:28
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Devian666 posted:Just remember revolving credit is good when you go from 20% equity to 36% equity in 18 months. I feel sort of the same way paying off my car loan with available cash and putting everything on 0% APR cards. Once that loan is done around springtime, I'll take care of the cards.
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Oct 22, 2015 23:46
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I paid off my credit card, maxed my roth this year and added several thousand dollars to my 401k instead of blowing my money on costume parties, clothes and fast food! Honestly though I'm a financial trainwreck that still lives with my parents, but at least I'm doing way better than last year thanks to the constant patience and support of all of you goons. I cannot emphasize enough how incredibly instrumental every single one of you was to helping me improve. I'm a trainwreck, but at least I'm slightly less of a wreck than at this time last year because all of you have been so patient and sweet during this whole process. Also, again thanks to you goons, I have influenced two people to take retirement seriously: - my 34-year old web developer friend who had $10k in savings but nothing in retirement. He told me a few months ago that after seeing me move home to save more for retirement, he started thinking about his retirement savings and began contributing to his 401k. It's late, but at least he's starting! - my 27-year old boyfriend. I think he started examining his money habits after he saw that I moved home to save for retirement. I think a big thing that scared him was when I said that some financial advisors recommend that people save an amount equal to their expected yearly retirement income by the time they turn 30. His eyes got really big and he said "I wouldn't have much of an income." A week later he told me that he increased his contribution to the full match or 10% of his income, I can't remember which. I refuse to discuss specific money details because I have the feeling that he makes more than me and I'm scared I would get jealous or something, but at least it sounds like he's headed in the right direction!
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Oct 23, 2015 02:38
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Congrats! That's all wonderful, especially the part about encouraging others to follow you down the path to fiscal responsibility. Just make sure you discuss those specific money details at some point before you lock this guy (or a different one) down for good 
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Oct 23, 2015 02:54
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legsarerequired posted:Also, again thanks to you goons, I have influenced two people to take retirement seriously
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Oct 23, 2015 02:56
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I got a surprise promotion this week! Comes with a $2/hr midyear raise and a new title. Impostor syndrome has taken a sabbatical! My compensation has increased by about $15000 since I started here 2 years ago.It's great to work for a firm that recognizes and rewards hard work. I'm finally at the point where I can live comfortably while both saving for a house and maxing out my retirement accounts!
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Oct 24, 2015 21:56
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I just accepted a new job that came with (after negotiation) a signing bonus that will allow me to completely payoff my credit card and a 36% raise (with 10+% bonus) that will allow me to save more AND pay down my student loan more aggressively. Things are looking up! Going to really start poking around in this subforum more to get a hold on my finances.
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Nov 4, 2015 22:34
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That is a good choice. We won't necessarily prevent you making dumb choices, but you'll at least think about it before you do, and then hopefully correct it. My anecdote is buying a $45k truck i didn't need, then selling it for a used beetle. As a 6-4, 300lbs man, that was a big deal.
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Nov 4, 2015 23:21
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Dead Pressed posted:That is a good choice. We won't necessarily prevent you making dumb choices, but you'll at least think about it before you do, and then hopefully correct it. My anecdote is buying a $45k truck i didn't need, then selling it for a used beetle. As a 6-4, 300lbs man, that was a big deal. I will think of you every time I see a little 5'4 110 lb woman hop into her giant SUV down in the parking garage after work. Keep fighting the good fight.
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Nov 5, 2015 17:50
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I found out about a grocery store in my town that's a little bit out of the way, but the prices are staggeringly lower than Sprouts, which is the nearest store to me. I think it's going to nearly neutralize the change I felt in my budget from contributing to my 401(k). I'm only at 6% right now, but to be fair I'm still building my liquid savings and I have student loans. I still don't pay my own car insurance or cell phone plan, but I'll have plenty of room for those once I stop hemorrhaging ~100 bucks a weekend at expensive bars. That didn't even occur to me very much until I typed this just now. The money I spend on restaurants is way more than the value I actually get from going, and gets in the way of things that I actually care more about. My original reason for going out on Saturdays was the cheat day of my diet, but I can just go get slices of pizza or In n Out, it doesn't have to be the drat sirloin and 3 beers at 6-8 bucks each. Thanks, thread!
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Nov 5, 2015 21:11
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SpecialK2 posted:I have a net worth greater than -$5,000, and I'm on track to break $0 by the end of the year. Up from like -$30,000 18 months ago. Updated on this, as of today I am worth about $300. Woo! Feels good.
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Nov 16, 2015 16:49
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SpecialK2 posted:Updated on this, as of today I am worth about $300. Woo! Feels good. Congrats! I remember the feeling of finally being worth something a little under two years ago. Feels good.
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Nov 16, 2015 17:04
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SpecialK2 posted:Updated on this, as of today I am worth about $300. Woo! Feels good. Good times. I'm just waiting to find out how my the retaining wall work for my house/garden is going to cost. I'm sure it will undo zeroing out my floating rate mortgage. e: Also received an increase in property value for my house of $30k at the weekend. Inflation is only 0.4% so it's almost all capital gains. Devian666 fucked around with this message at 01:38 on Nov 17, 2015 |
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Nov 17, 2015 01:31
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Pompous Rhombus fucked around with this message at 23:16 on Nov 26, 2015 |
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Nov 17, 2015 09:59
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