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2016 goals! I'm about to take a new position which is also a promotion so here's the time to get my poo poo together! Financial changes: - Set up a budget and stick to it. Trying the YNAB thing now and I'm not sure it's for me, but I need something visual so I can figure out where I'm bleeding money (haha kidding it's restaurants). I also want to track savings and have specific savings goals. Right now we don't have anything - we just get paid into checking accounts, pay our bills, and what's left just accumulates in our accounts. Tired of this - want to set some parameters and know what we're saving up for. Getting this set up will let me figure out a good timeline for the next few goals: - Pay off wife's car. Loan is done in September but might see what we can do to get this wrapped up faster. - Have a $6k emergency fund. - Set up a Roth IRA. Should have done this sooner. - Smaller thing, but I want to FINALLY combine checking accounts for me and my wife. Been putting this off because I need to change my direct deposit and all of my autopays, but this will make things so much easier. - Lifestyle change - eat out less, get into the habit of cooking every night. SO MUCH of our money goes into eating out, because we live in a city and can walk to a ton of great restaurants. Bad habit, gotta kick it.
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Dec 21, 2015 06:17
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IllegallySober's 2016 Financial Goals (AKA Operation: Freedom) Target: Eliminate a total of $28,768.12 in debt and reduce total debt to $0 by December 31, 2016. 1. Pay off Credit Card #1 (already closed), eliminating $3,266.28 of debt. (Interest Rate: 8.90%) - I work a side job as a football official during the fall and we are paid in a lump-sum at the end of the year. I have received one of my two checks for 2015 already and expect to receive the other before the end of the year. Between these two checks, I should be able to pay off most, if not all, of this credit card. The card is already closed so the only additional debt that could be added to this is interest charges. Target Completion Date: January 31, 2016 or sooner. 2. Pay off Car Loan, eliminating $4,304.46 of debt. (Interest Rate: 8.25%) - After paying off Credit Card #1, this will be my priority because should something happen to the car (accident, major repairs, etc.) I don't want the loan hanging over my head. Blue Book value on the car is roughly $3200 so while it is underwater, it isn't by a lot. I do not intend to buy another vehicle in the next five years as the current vehicle only has 115,000 miles on it and it's a Honda. Target Completion Date: May 30, 2016 or sooner. 3. Pay off Student Loans, eliminating $7,040.64 of debt. (Interest Rate: approximately 5.05% average between the two loans) - After paying off the Car Loan, this will be my priority because student loan debt is generally not able to be forgiven in case of bankruptcy, so if the worst were to happen, I would rather have this paid off sooner rather than later. Target Completion Date: October 31, 2016 or sooner. 4. Stretch Goal: Pay off Credit Card #2, eliminating $14,156.74 of debt. (Interest Rate: 8.90%) - Realistically, this will only happen by the end of 2016 if my company commission bonuses fall within the high-end of the expected range AND I am able to hit budget goals for every month in 2016 while shooting to decrease expenses as compared to 2015. I do believe it is possible, though, if I stay accountable to myself and others (hello, BFC) and leverage the tools available to me such as YNAB which I have been getting used to over the past few months. Time will tell if this proves to be the case. Target Completion Date: December 31, 2016 or sooner. 2015 Net Income: approximately $55,000 (changed careers in July) Expected 2016 Net Income: between $65,000 (no commission) and $100,000 (with highest-expected commission payouts) Other 2016 Goals - Update YNAB on a every-other-day basis or more - Run 12 5K events in 2016 - Learn to be a better cook and drastically reduce eating at restaurants - Move in with girlfriend - Do not have a child or any other expensive habits/experiences 
Referee fucked around with this message at 08:04 on Dec 21, 2015 |
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Dec 21, 2015 08:01
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I didn't post in the 2015 goals thread but we did exceed our goals for 2015 which were to pay cash for the wedding and honeymoon, fully fund our retirement accounts, pay $20K extra towards student loan principal, and increase long term savings by $12K. 2016 Goals. In order of importance. 1. Continue to max both of our 401Ks and IRAs 2. Pay off wife's student loans entirely (approx $50K) 3. Increase long term savings (eventual house fund) by $12K 4. When buying new car this year, borrow no more than $20K and overall spend no more than $30K 5. Increase emergency fund by $5K to $35K 6. *IF* I buy a motorcycle this year, pay cash. Stretch Goals: 1. Increase long term savings by $25K OR 2. Pay cash for the new car Tyro fucked around with this message at 14:29 on Dec 22, 2015 |
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Dec 21, 2015 13:32
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2016 Goals 1. Absolutely no debt 2. Max Roth IRA 3. Contribute 30% to 401k 4. Increase taxable savings by at least $5k 5. Make at least $1,000 from side work Stretch 1. Buy a car with cash
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Dec 21, 2015 15:05
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Sundae posted:Tell that to my in-laws, who adopted an infant while they were in their loving 60s. How the gently caress did they do that, We've been told international adoption is done in the mid-40's most places.
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Dec 21, 2015 17:14
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Goals: 1. Raise my net worth to $70k. (Currently @ $55k.) It will be a bit of a stretch, but that's the point! 2. Pay off $5.4k of my car loan, which has $6.6k remaining. 3. Do something vacation-y this summer without taking on debt. I haven't been on a vacation in 4 years and I need one desperately! 4. Pay for my last semester of grad school in cash. $3k. 5. No credit card debt. 6. Stretch Goal: Start saving for a house. A nominal amount, say $1500, just to get my morale going while I finish paying off the car. (Edited to make 2 tougher and added goal 6.) spinst fucked around with this message at 23:05 on Dec 26, 2015 |
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Dec 21, 2015 23:11
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Sent off a $514 payment to Credit Card #1 today. The first salvo has been fired in the war on debt!
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Dec 21, 2015 23:11
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2016 Goals: 1. Increase Net Worth to 160k 2. Save 10k towards new car 3. Raise emergency fund to 24k 4. Pay cash for new suit and summer vacation. So, plan.
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Dec 22, 2015 01:03
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sbaldrick posted:How the gently caress did they do that, We've been told international adoption is done in the mid-40's most places. Sorry -- to be specific, it's in-state adoptions. Not international. New Hampshire.
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Dec 22, 2015 05:28
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Starting this past June I've been keeping a spreadsheet of all of mine/husband's income, expenses, and savings/investment contributions. It's not a full year of data, but it was a good enough spread that I have an idea of monthly averages. So, my 2016 goals are to: 1. Make a new tab on the spreadsheet for 2016, and continue tracking. Every expense, every month, don't fall off the wagon. This is just part of life now. Don't make it a passing phase, self!! 2. As the months go on, try to keep the averages for each expense category either equal to 2015's averages, or hopefully lower in several frivolous categories (restaurants, shopping, gifts). 3. Max out his & hers IRAs. I have a sneaking suspicion that while mine is a traditional and his is a ROTH, they should probably be flipped. Need to research a) if this is still possible, b) how to? 4. Bump up the non-IRA brokerage account's monthly contribution from $867 to $1000. Stretch goal: 5. Save up for new SUV. Having an '05 SUV and a '14 sedan in the same household makes you get real jealous of the bells and whistles they've introduced to vehicles over the years. Push button start, keyless entry, and blindspot/reverse warning beeps, oh my  Good luck, all!
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Dec 22, 2015 22:43
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2016 Goals 1) Max both IRAs 2) Max 401k contribution 3) Get mortgage under 130k (Currently 160k) 4) Remodel kitchen & front yard (Budget ~30k for both in Ally savings) 5) Research local charities/causes and make a meaningful donation 6) Take a vacation that is a week or longer Stretch Goals 1) Get mortgage under 100k 2) Generate side income I was always fantastic at saving money in a low-yield checking account, but that's about it. So my BFC lurker journey these past few years has been me learning to let go and not be afraid to use my money in meaningful ways, like putting it into retirement, paying down my mortgage, opening a taxable investment account, etc. I've been putting off these home repairs forever and I know they will make me super happy when finished, I just get paralyzed when it comes to spending. I need to get over it! No more tile and grout countertops!
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Dec 23, 2015 04:23
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Last year my goal was to have a years gross salary in non-retirement investments.. I made it. Barely. So let's get ambitious again! 2016 Goals: - increase non-retirement investments from 60k to 80k - stretch goal: increase non-retirement savings to 1.5x my gross salary. - continue salary sacrificing $150 a month into superannuation - stretch goal: increase net worth to $130k (including super) - do one online course relevant to my industry - read three finance books relevant to Australia (already working on this)
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Dec 23, 2015 06:07
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Was gonna do this earlier, but I just got a job offer with a higher salary so I can tweak my goals a little bit. 1. 50% of salary goes into retirement accounts (401k/Roth/taxable) - With the new salary I think this is much more doable. 2. Increase net worth to ~65k, or rather put about $25k into retirement if the market remains flat or whatever. Market gains aren't really a goal. 3. Don't get married - or if I do, don't have an expensive wedding 4. Don't have kids 5. No new debt - no house, no new car, etc 6. Start a budget with YNAB. I'm doing well with money I think, but I feel like some cuts can be made. Fortunately, I don't have any debt (other than whats on my upcoming credit card bill which I pay off in full every month), so I can focus on cutting expenses and investing.
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Dec 23, 2015 18:29
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Goals for 2016 -Get my savings up to $100k, and man up and start investing -Remain homeless because money spent on a mortgage is better spent on world class prostitutes  -maybe start a budget but that sounds kinda gayyyyyy and I am straight! -don't get married, don't have a kid, don't buy a fuckin new car even though I keep drooling over stupid poo poo like the STI and focus rs aaaaahhhhhh -read more fuckin finance and investing books
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Dec 24, 2015 02:29
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EAB posted:Goals for 2016 Keep fighting the good fight 
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Dec 24, 2015 09:50
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2016 - Employment :/ - Pop a cork on something to celebrate having all of my student debt wiped away by my in-laws. Didn't ask for that, but I'll take it. (An awkward yet age-old financial shortcut.) - Cross the bridge and try to understand the actual state of my wife's finances (it's all managed by someone else and she herself doesn't know.) - Lose the car - Once I actually know our joint finances, set a growth goal with the lady, and maybe a strategy with her finance guy. -don't buy a house -don't have a baby -don't be forced to adopt either of my parents when something catastrophic happens to them (they're both old and both live in a state of semi-homelessness and I never know what's going to happen to them.)
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Dec 27, 2015 01:27
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pig slut lisa posted:I'm a little worried that your hedge against job loss is acquiring two credit cards (with interest rates of 15% at best, I'd imagine) rather than aggressively saving for an emergency fund that you keep in a low-risk place like a savings account. Very good feedback, thanks. I'm also reconsidering the HELOC at this point as I think it's a better tool for someone with a more stable career. I did get 1 credit card already for the rewards and to serve as a potential last resort, but will focus on savings and investment before taking on further risk.
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Dec 29, 2015 00:09
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2016 -Get certified in IT things and get a better paying job. -Have a positive net worth (Currently -$8000) ->50% 2016 IRA contribution limit. -Cut eating out spending by $1000
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Dec 29, 2015 17:44
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Gone back and forth on these, but here goes. 1. Finish paying off student loans this year, about $11k left at the moment. 2. Increase net worth to $30k, about $4k right now. 3. Don't buy a new loving car. Not a strict goal, but one I will really need to hit in order to accomplish the above goals is grossing about $1k in sales from flipping stuff on eBay in addition to my day job. Gonna be tough but if I can do it I should fly past these goals by the end of the year.
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Dec 30, 2015 17:12
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Since my 2015 goals went pretty much straight down the toilet let's try this again and see if I can hit them this time. In order of priority: 1. 2. Maintain 0 balance on credit cards this time, goddammit - 1/31 edit: cards set up to pay full balance every month so I can't forget and carry it over 3. Add $4000 to efund 4. Max 2016 IRA 5. Start and fund HSA My house is my only debt other than that last bit of CC still lingering. I was in really good shape 2 years ago, then my income got unstable and that's been very bad for my ability to save and not lean on the credit cards so I'm going to focus on breaking bad habits this year and light a fire under my boss to pay me on time. I can't do another year of this bullshit so if it doesn't get better I really will have to start looking for a different job and I like my job a lot so I hope it doesn't come to that. Everything Burrito fucked around with this message at 03:26 on Feb 1, 2016 |
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Dec 30, 2015 20:04
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Financial: 1. +60k net worth (~165k -> 225k) 2. Max out regular 401k contributions, after-tax 401k contributions (26k), IRAs for myself and wife for 2015 and 2016. 3. Go over spending consistently (right now this is scheduled for weekly, but even once a month I'd consider a success). 4. Tamp down on eating out by making it part of "personal spending" (this also involves an increase to the personal spending allocation, but we should still come out ahead savings-wise). This is the biggest waste of money we have right now, I think. 5. Get some points from credit card rewards from regular, not manufactured, spending. Not strictly financial: 1. Have son reading very simple kids' books, and some menus/basic text in video games, by his fifth birthday (in October). 2. Develop something meaningful career-wise aside from my job, like an Android side project, or learning a new tech stack. 3. Get in better muscle shape.
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Dec 30, 2015 21:22
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1) Max out pre-tax 401k = $18,000 2) Save up funds for max backdoor IRA 2017 contribution on Jan 1, 2017 = $5,500 (already have funds for 2016 contribution ready to go tomorrow) 3) Increase my emergency fund from $5,000 to $10,000 = $5,000 4) Max out employee stock purchase plan to take advantage of discount = ~$18,500 if I understand the contribution limits correctly 5) Contribute to taxable investment account at Vanguard = $30,000
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Dec 31, 2015 19:37
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I have but one: Increase net worth by +$30K ($20K -> $50K) Stretch Goal: +$40 K -- might actually not be possible since I only make about that much in a year. But I'll try!
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Jan 1, 2016 01:38
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The Experiment posted:1) Increase my current net worth from $162,000 to $200,000, with a stretch goal of $225,000. Update on #4: already put in the transaction order for $5,500 in the Roth IRA already. Won't be effective until early next week but still, so far so good!
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Jan 1, 2016 14:21
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1) No More Music Gear! I have more than enough 2) End the year with $0 balance in my credit card. I'm about a little under $3,000 right now, so that shouldn't be too hard to do. 3) Add $10k to my savings to reach $30,000 4) Add $12k to my 401k
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Jan 1, 2016 22:55
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My goals are somewhat small because it's my last semester of school and I'm living at home so I am aiming to just make a big leap back into the world (I'm an adult student who is very lucky to have such a generous support system that I can live at home for free). 1) Save up a nest egg for moving wherever my post-grad life takes me, aiming for $6k but will likely have plenty more deadline: I don't know yet. Aiming to be out of here by October, but could be moved up/pushed back as I see fit. 2) Whittle away all credit card debt (some consumer, lots of school-related expenses), currently stands at about $5k including the Apple financing for my recent laptop purchase deadline: EOY probably, hopefuly much, much sooner. 3) Save up an extra $2.5k or so for fun/transport/etc. during month abroad deadline: June 15 or thereabouts, as I leave on the 17th and need things all set by then 4) No clothes shopping except at the thrift store (this is an indefinite goal, probably until mid-June when I go abroad to be picked up again when I return stateside?) I'll probably make more goals when/if I move and get a new job, including maxing out 401k and FSA or however the benefits roll out, and also making a real game plan to tackle my student loan debt. I'm genuinely hoping to keep up with these goals, as 2016 is a big year of endings for me, so my financial situation will be changing significantly. (I hope.)
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Jan 2, 2016 06:32
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Goals for 2016 1. Pay off all consumer debt and be debt free except for the mortgage by EOY 2. Move old retirement accounts to single Vanguard umbrella account 3. Contribute the monthly equivalent of a Roth contribution toward the emergency fund. 5. Save $25k cash for emergency fund EDIT: BossRighteous posted:I discovered that my employer intends to transition away from active web development and focus on AdWords. ... root of all eval fucked around with this message at 17:13 on Jan 6, 2016 |
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Jan 2, 2016 19:01
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Ok enough procrastinating, I want to do this after reading the 2015 thread. 1) No credit card debt or other new debts. 2) Continue contributing 6% (w/ full match) to 401k for every pay period. 3) Increase net worth to positive by the February, then to $25K at a minimum by the end of the year (currently -$1,400). I should hit $18K only paying the minimums on my loans, w/ 401k contributions, and not incurring CC debt. Stretch goal: $30K. 4) Make at least $3,000 in additional payments towards my student loan principal (currently $11,500). Stretch goal: $5K. 5) Emergency savings of at least $4,000 (currently $0). 6) Continue living at home to save money.
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Jan 2, 2016 19:45
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IllegallySober posted:IllegallySober's 2016 Financial Goals (AKA Operation: Freedom) COMPLETED as of yesterday evening (1/1/2016) when I sent the last payment off to the credit card company. Done, closed, and out of my life forever! (I might have to throw like $20 more at it in a couple of weeks if there's interest on the previous balance that hasn't hit the account yet, but as far as I'm concerned, it's done.) NEXT TARGET: IllegallySober posted:
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Jan 2, 2016 20:05
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I am determined to be disciplined for the new year because rent ain't cheap and I need to really put my money where my mouth is (hurr): 1. Max out 401K 2. Save $50,000 3. Get more than a $10K bonus this year if I stay at my current job -or- Get a new job 4. Eat at home at least four times a week 5. Bring my lunch to work at least four times a week too (this gets easier as the weather gets colder) 6. Take taxis only when absolutely necessary 7. No buying stuff that's not food or household items for at least three months - stretch goal is six months 8. Stop always covering certain people for dinner/drinks when we go out - a few of my friends make consistently bad life decisions and it's not my job to rescue them anymore Nether Postlude fucked around with this message at 20:53 on Jan 2, 2016 |
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Jan 2, 2016 20:08
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Alright, Financial Goals 2016: 0. Pay off Credit Card (Leftover goal from 2015, $975 remaining balance. Should be completed by the end of February) 1. Max out Roth IRA 2. Increase Emergency Fund to $10,000 3. Get one month ahead on all expenses (YNAB Rule 4, currently 1 paycheck ahead) 4. Save enough additionally to take a vacation/visit friends in Denver 5. Start some relatively self-sustaining side venture that earns some mostly passive income
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Jan 2, 2016 20:20
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moana posted:Non-Monetary Goal  
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Jan 2, 2016 21:08
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Congrats. 
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Jan 2, 2016 21:18
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moana posted:welp, look who's getting started early with her new year goals Congratulations / my sympathy !!
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Jan 2, 2016 21:18
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moana posted:welp, look who's getting started early with her new year goals Congrats!
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Jan 2, 2016 21:19
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Dead Pressed posted:Goals: Budget set up in everydollar. Cash put into envelopes, and all credit cards stashed away. Here we go!  Housing includes all utilities and Netflix, ETC. moana posted:welp, look who's getting started early with her new year goals That's awesome. Congrats! Wife and I have decided to start trying on her 28th birthday, the beginning of March! :highfive:
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Jan 2, 2016 21:27
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moana posted:welp, look who's getting started early with her new year goals
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Jan 2, 2016 21:27
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moana posted:welp, look who's getting started early with her new year goals   It truly is the best and worst thing at the same time!Edit: And that's without me noticing the responses well ahead of me!
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Jan 2, 2016 21:27
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moana posted:welp, look who's getting started early with her new year goals Start saving now for the kid's first SA account
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Jan 3, 2016 00:34
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| # ? Apr 26, 2024 01:39 |
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And thank you...
Dead Pressed fucked around with this message at 01:04 on Jan 3, 2016 |
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Jan 3, 2016 00:47
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