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In January of 2016 I had 8k in savings. In January of 2017 I had 21k. Right now I'm at 32k and could be at 50k by August. Hopefully buying a house at some point in the next 2 years, but who knows what will happen to housing prices, so no rush.
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Jan 24, 2018 03:31
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So after almost 4 years of having a mortgage on my first apartment (which was taken at a break neck pace), job i didn't really like (although it somewhat improved recently) and a life that felt more like vegetating than living, I signed the papers to do a final advance payment on the mortgage - just shy of 11 years ahead of the initial timeline. Seeing the account balance evaporating hurt, but it hurt so good. Finally debt free, and with a 6+ month emergency fund. Yay!
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Jan 28, 2018 00:25
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Tactical Shitpost posted:So after almost 4 years of having a mortgage on my first apartment (which was taken at a break neck pace), job i didn't really like (although it somewhat improved recently) and a life that felt more like vegetating than living, I signed the papers to do a final advance payment on the mortgage - just shy of 11 years ahead of the initial timeline. Congratulations on your accomplishment TS!!! That's huge! Equity is equity is equity. Can't nobody take that away from you (except plunging real estate prices).
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Jan 29, 2018 01:18
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For some contribution myself, I collected the last dollar(s) I'll need to pay off the remainder of my tuition for my MBA! Aside from the student loan debt we're servicing (and which is eligible for PSLF), I don't have any other spending to do on education or certification!
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Jan 29, 2018 02:56
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I think I posted in here a few months ago about finally having a positive net worth, and that's kept going in the right direction since, even over the Christmas break. Recently, instead of continuing to keep all my money with the bank I've used since childhood, I finally looked around and found a better one. I've gone from a savings account at 1.65% pa (dropping to 0.01% in any month I didn't deposit enough, let alone withdrew some) to one at 2.95% that I can access freely (I have to make weekly NFC purchases to get the full rate, but I already do that). I didn't realise how straightforward it was to open, either! The only issue is that, especially for a bank with no physical presence, their website is pretty barebones - but as long as I can see my transactions and get my interest I can live with it. I don't have enough yet for the interest to be significant, it'll be dwarfed by the money I'm depositing normally, but better than nothing and it's probably good practice at not being attached to my old bank out of weird nostalgia.
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Jan 29, 2018 12:42
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Where are you getting almost 3% on a savings account?
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Jan 29, 2018 14:33
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No Butt Stuff posted:Where are you getting almost 3% on a savings account? Seriously! Sounds like some hoops attached but maybe worth it. I thought 1.35% was good at Ally.
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Jan 29, 2018 18:04
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Tactical Shitpost posted:So after almost 4 years of having a mortgage on my first apartment (which was taken at a break neck pace), job i didn't really like (although it somewhat improved recently) and a life that felt more like vegetating than living, I signed the papers to do a final advance payment on the mortgage - just shy of 11 years ahead of the initial timeline. Awesome! Big congratulations / gently caress you. No Butt Stuff posted:Where are you getting almost 3% on a savings account? Sounds like Australia or otherwise not the USA.
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Jan 29, 2018 18:50
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Very cool, tactical shitpost. I was hoping to have our house paid off by the time I turned 40, but that's not happening what with children and life - 42 or 43 should be doable. That would be right around 15 years to pay off. A small contribution to the thread, but with the market going apeshit our retirement accounts have grown nicely this year. My spouse and I are both 35ish and we have a little over 1.5 times our annual gross income in retirement accounts. I'm not sure if there is any particular metric for "have X% of your income by age Y in retirement savings", but I imagine we're doing pretty well considering we're not even close to living the "annual contribution limits" life.
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Jan 29, 2018 21:07
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dreesemonkey posted:Very cool, tactical shitpost. I was hoping to have our house paid off by the time I turned 40, but that's not happening what with children and life - 42 or 43 should be doable. That would be right around 15 years to pay off. https://www.fergusonfinancialinc.com/blog/how-much-should-you-save-age-30-40-50-or-60
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Jan 29, 2018 21:44
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No Butt Stuff, et al posted:Where are you getting almost 3% on a savings account? Yeah, sorry, guesses were right - Australia. The weekly paypass might shoot me in the foot, but the high-rate savings accounts here tend to want either that or regular deposits, and since I'm only paid during school terms and NFC is everywhere here it's the easier option. (Plus now I know how easy it is to switch if I change my mind.) I was more surprised how terrible term deposits are, to get the same kind of rate I'd have to lock up my money for three years.
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Jan 30, 2018 06:35
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I realized something this yesterday that I'm pretty proud of: My wife has been meal planning like crazy and it means we have gone from eating out on average ~10 meals a week to ~4 meals a week. (Counting 2 people x 3 meals a day x 7 days = 42 potential meals) It was 5x lunch for me, 2.5x lunch for her, plus typically we would eat out as a family once over the weekend. It clicked when I ran into someone at the grocery store who asked if we were having a dinner party because of the cart full of food for the week. I'm only recently on the packing-my-lunch train but I've been at it for 2 weeks now with 100% success on my targeted 2.5 meals a week. We've been meal planning dinner for months, and she's always been much better at packing her lunch. Now she's up to around >4.5 lunches/week packed. Ignoring the health benefits of me eating home cooked garbage instead of fast food garbage it's been a pretty decent reduction in our expenses. We aren't going /r/frugal insane on this, but it's hard to spend more eating in.
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Feb 5, 2018 19:17
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I got around 2000 back as my federal refund, and I just made a lump sum payment of 2441 to my final student loan, wiping out my student debt completely. 
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Feb 7, 2018 12:13
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BAE OF PIGS posted:I got around 2000 back as my federal refund, and I just made a lump sum payment of 2441 to my final student loan, wiping out my student debt completely. 
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Feb 7, 2018 16:46
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BAE OF PIGS posted:I got around 2000 back as my federal refund, and I just made a lump sum payment of 2441 to my final student loan, wiping out my student debt completely. That's awesome, and one less hassle to have to deal with.
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Feb 8, 2018 07:49
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BAE OF PIGS posted:I got around 2000 back as my federal refund, and I just made a lump sum payment of 2441 to my final student loan, wiping out my student debt completely. congrats!!!!!!!!!
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Feb 9, 2018 15:12
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dreesemonkey posted:A small contribution to the thread, but with the market going apeshit our retirement accounts have grown nicely this year. My spouse and I are both 35ish and we have a little over 1.5 times our annual gross income in retirement accounts. I'm not sure if there is any particular metric for "have X% of your income by age Y in retirement savings", but I imagine we're doing pretty well considering we're not even close to living the "annual contribution limits" life. Hey remember that time I said about the market going apeshit? 
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Feb 9, 2018 21:21
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Higgy posted:Breaking my posting hiatus to share this news. My goal since I started working after college was to have 6-figures in retirement accounts by the time was 30. Checking this morning and I’ve tipped over that 100k mark 6 months prior to my 30th birthday. Feels good to finally see that number. spwrozek posted:Here comes the 30% market downturn in 5 months posted: November 13, 2017 I'd like to uh...retract my previous post. Gonna find a way to lose my log in to Vanguard for a bit.
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Feb 9, 2018 23:29
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Higgy posted:posted: November 13, 2017  remember it is the long game.
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Feb 9, 2018 23:34
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Higgy posted:posted: November 13, 2017 The S&P is still higher than it was on November 13th.
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Feb 9, 2018 23:34
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spwrozek posted:
Oh, I know. I got excited riding on the unchecked climb to the top of mountain this past year and I knew it was due for a correction but, still. I still feel like my goals are on track, I've got a good 30-35 years for that money to keep growing so I just need to forget about it for a bit.
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Feb 9, 2018 23:47
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I'm poor as gently caress!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! But I've been eating out a lot less in 2018.
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Feb 12, 2018 23:14
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 6% raise and title bump this year, thanks to a combination of BFC advice, not wanting to eat catfood in retirement and  I'm taking 2% as a Cost of Living adjustment and increasing my pension contribution from the 6.5% employer match to 10.5%. I'm projecting to finally pay off my student bar tab in October so that will be the real pay increase for nice things
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Mar 14, 2018 13:33
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Doccykins posted:
Congratulations, that's an awesome bump to your retirement and you are so close on the loans!
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Mar 14, 2018 15:04
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I was let go from my old job in early February - not for cause, I was restructured out partially due to my own work at restructuring some processes and overall fixing their poo poo. So that sucked. But I got a month of severence, 17 vacation days paid out, and negotiated for them to cover all my insurance through end of April. That didn't suck. Neither did qualifying for unemployment. I also just got a job offer for a 24 percent salary increase and a change in commute from 30/45 minutes one way by car to 7 minutes one way by car, plus its bikeable (if I get a bike). And a better 401k match. I just have to go through the drug test/background check then I'm good to go, and I have no concerns on that score. Should be able to start the 26th or the 3rd. I'll be able to pay off one student loan completely out of my severence, then can throw cash at the remaining one like crazy. Plus getting my efund up to 8/10k way faster. Plus plus maybe a for-real vacation early next year - as in Europe for a week not just a long weekend trip to Chicago. I directly credit BFC for the negotiation stuff and the fact that I lived quite comfortably on my previous salary so I can chuck the money at debt and savings rather than spending on stupid poo poo.
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Mar 14, 2018 19:52
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KitConstantine posted:I was let go from my old job in early February - not for cause, I was restructured out partially due to my own work at restructuring some processes and overall fixing their poo poo. So that sucked. But I got a month of severence, 17 vacation days paid out, and negotiated for them to cover all my insurance through end of April. That didn't suck. Neither did qualifying for unemployment. This post has everything. I fist pumped so hard at every point along the way. Great wins, KC.
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Mar 14, 2018 19:58
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EAT FASTER!!!!!! posted:This post has everything. I fist pumped so hard at every point along the way. Thanks  It's a good thing I had a couple of years reading this to get my financial house in order before it happened. I had more in savings than I ever had before (only 2k cash, but I have a decent untouchable chunk in retirement), no debt other than student loans, and I had filed my taxes as soon as I could so I had my federal refund as a buffer too. I had a bit of a meltdown the day I was let go, partially because it was so unexpected and partially because I had never been fired or quit or anything from a job before, but thankfully I got my poo poo together pretty fast. KitConstantine fucked around with this message at 20:20 on Mar 14, 2018 |
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Mar 14, 2018 20:17
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Just accepted an offer to transition from a content role with my current company to a technical program manager gig, basically running process, meetings, and project planning for a software development team. Went from the ceiling of my old role to the floor of a new one, with a $15k raise. And my previous manager appreciated me enough that she pushed to get me an 18% bonus for the year. My savings account rejoices!
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Mar 15, 2018 01:35
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KitConstantine posted:I had a bit of a meltdown the day I was let go, partially because it was so unexpected and partially because I had never been fired or quit or anything from a job before, but thankfully I got my poo poo together pretty fast. This is very understandable. The secret to being successful in adulthood isn't being imperturbable, it's being able to keep something awful that happens from overrunning your whole life.
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Mar 15, 2018 14:36
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Nur_Neerg posted:Just accepted an offer to transition from a content role with my current company to a technical program manager gig, basically running process, meetings, and project planning for a software development team. Went from the ceiling of my old role to the floor of a new one, with a $15k raise. And my previous manager appreciated me enough that she pushed to get me an 18% bonus for the year. My savings account rejoices!  Congrats dude.
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Mar 15, 2018 19:14
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Stopped ignoring an email in my inbox about ChangeTip closing, and realized that the $1 or so that I thought was tipped to me that I didn't previously care about was actually 0.020~ bitcoin which is now worth about $161 that I very much care about. Transferred it to my regular wallet and gonna look at some graphs this weekend before deciding whether to keep hodling or cash it out to dent another credit card. Also, since previously paying off Discover, they gave me a no fee balance transfer to help me stop being Chase's bitch too. Also also, just finished my second puzzle book and should be getting a payout from my publisher soon to take care of another good chunk of debt. Now onto book #3...
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Mar 16, 2018 05:56
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Good at life, bad with money - buying a house with my husband! Do never buy. Good with money, neutral at life - got a new job that starts in a few weeks, 7k pay bump, office is a 30 minute bike ride from my new house. I'm now at the point I need to consider putting more into retirement (so I remain in a lower tax bracket). A coworker at my current job keeps telling me if I don't like it I can come back, haha.
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Mar 16, 2018 09:41
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While it is good to put more money to retirement, I just want to make sure that you understand that tax rates are marginal and there is no inherent advantage to being in a lower tax bracket.
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Mar 16, 2018 12:01
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KYOON GRIFFEY JR posted:While it is good to put more money to retirement, I just want to make sure that you understand that tax rates are marginal and there is no inherent advantage to being in a lower tax bracket. She's Australian, there very well may be tax bennies.
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Mar 16, 2018 13:52
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EAT FASTER!!!!!! posted:She's Australian, there very well may be tax bennies. Australia also has a progressive tax rate: https://en.wikipedia.org/wiki/Income_tax_in_Australia Pretty much the only things the USA is ahead on globally are gay marriage and ... If it's a reasonable policy the US does, other first world countries do it too.
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Mar 16, 2018 14:29
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KYOON GRIFFEY JR posted:While it is good to put more money to retirement, I just want to make sure that you understand that tax rates are marginal and there is no inherent advantage to being in a lower tax bracket. Yes, I do know this! However, I also have shares on top of my income, so my actual income tends to look a fair bit higher than my wages only income and I hate owing money at tax time. Match that with retirement savings only getting taxed at 15% rather than my marginal rate (~30%) and there being yearly limits for how much I can contribute and it looks very attractive to do so!
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Mar 16, 2018 17:26
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the last two years going from unemployed and deeply in debt to a much better place...
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Mar 18, 2018 15:50
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That's a good lookin' graph!
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Mar 19, 2018 00:52
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Congrats!
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Mar 19, 2018 00:57
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I got approved for an apartment today, at an actual complex! Around 4 years ago, I had a 410 credit score with roughly 20k in debt and anywhere that I tried to get approval at would pretty much deny me same day. I never post in here but I lurk a lot and have got a lot of great information over the years. My credit score has shot up to just under 700 and my debt is almost entirely gone or on a good payment plan that is helping me raise my credit. I’m so excited
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Mar 27, 2018 02:46
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