- qmark
- Nov 21, 2005
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College Slice
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Quick status check:
Salary: $65,000
Emergency Fund: $4,000
Debt: ~$27,000 (student loans, 2-5%)
Retirement: ~$4,800 (roth)
Goals:
1. Max out Roth IRA contributions for 2016 (so, $5,500).
2. Increase emergency fund by $4,000.
3. Decrease debt by $6,050.
4. Complete 4 more computer science classes (paid for by my company).
5. Do not change jobs or quit taking classes.
6. Save for travel to two weddings in April and October ahead of time.
7. Save for a deposit on a new apartment and (if we're both ready), move in with girlfriend.
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Dec 18, 2015 17:04
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May 2, 2024 23:23
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- qmark
- Nov 21, 2005
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College Slice
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Goals:
1. Max out Roth IRA contributions for 2016 (so, $5,500). On track
2. Increase emergency fund by $4,000. On track
3. Decrease debt by $6,050. On track
4. Complete 4 more computer science classes (paid for by my company). On track, but came awfully close to quitting the current class
5. Do not change jobs or quit taking classes. I've been daydreaming, but didn't do anything...
6. Save for travel to two weddings in April and October ahead of time. The wedding in October is very much on track. I've saved 80% of the estimated cost of the April wedding. I'm a little behind where I thought I would be, but there is flexibility in how much it will ultimately cost, and I am anticipating some overtime hours in the coming months to make up the shortage.
7. Save for a deposit on a new apartment and (if we're both ready), move in with girlfriend. I have saved nothing toward a deposit on the new apartment, so it looks like if this happens, I'm going to have to first move into my girlfriend's current apartment and save up the deposit on a new place while living there. It's not clear if either of us will be ready (emotionally) to move in, but we have been talking little about it.
Overall it was a good month. Not pictured here was staying within my budget in every category. Now I just have to sustain it...
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Feb 1, 2016 17:17
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- qmark
- Nov 21, 2005
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College Slice
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quote:
Goals:
1. Max out Roth IRA contributions for 2016 (so, $5,500). On track.
2. Increase emergency fund by $4,000. Faced some setbacks in February. Had to borrow from e-fund to put down a deposit on a new apartment (security deposit reimbursement from previous landlord will more than offset, but I don't have that in hand yet, and it's still a risk). Also had to withdraw ~750 for car repairs. I can still meet this goal for the year by reimbursing the account with the security deposit I get back from my old landlord, and putting the money I'm saving at my new (cheaper) apartment toward e-fund.
3. Decrease debt by $6,050. Not sure how to judge this one. Probably need to judge it "failure" for now. On the one hand, I am on track to decrease my student loan debt by the goal amount by the end of the year. On the other hand, I financed a new phone at 0%, which technically increased my debt. I can get back on track by paying off the phone debt by the end of the year in addition to paying down the planned 6k on my student loans.
4. Complete 4 more computer science classes (paid for by my company). On track.
5. Do not change jobs or quit taking classes. So far so good.
6. Save for travel to two weddings in April and October ahead of time. On track. The April wedding (which is an overseas trip) is fully funded. The wedding in October is on track, but due to some recent emails I got, the bachelor party is probably going to be more expensive than what I budgeted for, so I'll have to figure something out to make sure I have enough in October.
7. Save for a deposit on a new apartment and (if we're both ready), move in with girlfriend. Failed, I guess. I didn't have anything saved toward the deposit. However, my girlfriend and I (we've been looking at apartments for months) found a place that we couldn't pass up, so we rented it. I borrowed the money from my e-fund. The good news is the rent and utilities (and even things like parking and laundry) are, across the board, significantly cheaper. I could potentially save ~400/mo depending on how the average utility bills come out.
This is turning out harder than I thought, and it's only February...
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Mar 2, 2016 00:13
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- qmark
- Nov 21, 2005
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College Slice
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Goals:
1. Max out Roth IRA contributions for 2016 (so, $5,500). On track.
2. Increase emergency fund by $4,000. SORT OF on track... As I mentioned last month, I had to dip into my e-fund to pay for a deposit on a new apartment and some car repairs. I won't be back to the level I should be to meet this goal until May, but it will happen.
3. Decrease debt by $6,050. On track.
4. Complete 4 more computer science classes (paid for by my company). On track. But I'm considering asking my boss to add two community college classes to our arrangement. If not, I might pay for them out of pocket.
5. Do not change jobs or quit taking classes. On track.
6. Save for travel to two weddings in April and October ahead of time. April wedding is going to be more expensive than originally planned, because we were planning to stop in Istanbul before going to the wedding destination. We had to nix that plan after all the bombings there, so we bought some extra flights to Rome instead. The good news is... there was plenty of money already in the budget! The October wedding is on track.
7. Save for a deposit on a new apartment and (if we're both ready), move in with girlfriend. New apartment is awesome, saving a ton on rent, and deposit money I had to borrow from my e-fund will be "paid back" by May.
I honestly never thought I'd be capable of this kind of planning/execution.
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Apr 1, 2016 18:44
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Dec 18, 2015 17:04
