Financial Goals 2017: Budget Harder

The Something Awful Forums > Discussion > Ask/Tell > Business, Finance, and Careers > Financial Goals 2017: Budget Harder

Referee: Aug 25, 2004; "Winning is great, sure, but if you are really going to do something in life, the secret is learning how to lose. Nobody goes undefeated all the time. If you can pick up after a crushing defeat, and go on to win again, you are going to be a champion someday."
(Wilma Rudolph)

My 2017 goal is to become debt-free by paying off $17,129.33 in debt.
(Stretch goal- do this by my birthday, August 20).
(Stretch goal #2- also max out my Roth IRA).

$3,539.21 in student loan remains.
$13,590.12 in credit card debt remains.

Do not rack up any new debt (besides unavoidable interest charges on the above).

Other personal goals:

Lose 20 lbs (so I'd weigh 170)

Decrease restaurant/bar/alcohol expenses by 30% from 2016. Just ran the numbers for 2016 and holy poo poo. I spent $5,007.99 on restaurants and bars and alcohol. That's $417.33 a month. Every month. Jesus Christ.

30% decrease would be $3,505.59, or $292.13 per month. That's a non-negotiable for me. Has to happen. Stretch goal here is to spend less than $2,500 in both categories combined.

Referee fucked around with this message at 23:37 on Jan 1, 2017

# ¿ Jan 1, 2017 18:19

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# ¿ May 2, 2024 00:58

Referee: Aug 25, 2004; "Winning is great, sure, but if you are really going to do something in life, the secret is learning how to lose. Nobody goes undefeated all the time. If you can pick up after a crushing defeat, and go on to win again, you are going to be a champion someday."
(Wilma Rudolph)

spinst posted:

Alright dudes, it's January 1! Let's kick this year's rear end.

One day closer to being out of debt :hellyeah:

# ¿ Jan 1, 2017 20:01

Referee: Aug 25, 2004; "Winning is great, sure, but if you are really going to do something in life, the secret is learning how to lose. Nobody goes undefeated all the time. If you can pick up after a crushing defeat, and go on to win again, you are going to be a champion someday."
(Wilma Rudolph)

Mad Wack posted:

I lurked this thread last year and it inspired me to create some written goals and report back this year!

Current savings:
- $10k liquid emergency fund
- $15k in liquid savings
- $5k in HSA w/ 5% employer match
- $9k in 401k w/ 6% employer match plus 3% "gift" from employer
- $28K in vanguard IRA
- No Roth IRA
Total Savings: $67K

Current debts:
- $9K in CC Debt @ 10%
- $26K Auto Loan @ 1.4%
- $28K Student Loans @ 5%
Total Debt: $63K

I like the rest of your plan but if you have both a $10K emergency fund, and a $15K savings account, I don't understand why you wouldn't just pay off the $9K in CC debt @10% interest right now. That would still leave you $16K in liquid emergency/savings funds.

# ¿ Jan 3, 2017 20:42

Referee: Aug 25, 2004; "Winning is great, sure, but if you are really going to do something in life, the secret is learning how to lose. Nobody goes undefeated all the time. If you can pick up after a crushing defeat, and go on to win again, you are going to be a champion someday."
(Wilma Rudolph)

IllegallySober posted:

Decrease restaurant/bar/alcohol expenses by 30% from 2016. Just ran the numbers for 2016 and holy poo poo. I spent $5,007.99 on restaurants and bars and alcohol. That's $417.33 a month. Every month. Jesus Christ.

30% decrease would be $3,505.59, or $292.13 per month. That's a non-negotiable for me. Has to happen. Stretch goal here is to spend less than $2,500 in both categories combined.

Halfway through January and I'd be doing pretty good on this if it weren't for a $72 bar tab my dumb rear end decided to pick up when I only racked up about $15 of it. I'm way too nice sometimes.

Instead, I'm at $205.75 so far in January. :sigh:

# ¿ Jan 16, 2017 22:44

Referee: Aug 25, 2004; "Winning is great, sure, but if you are really going to do something in life, the secret is learning how to lose. Nobody goes undefeated all the time. If you can pick up after a crushing defeat, and go on to win again, you are going to be a champion someday."
(Wilma Rudolph)

End of January Update in bold:

IllegallySober posted:

My 2017 goal is to become debt-free by paying off $17,129.33 in debt. NOW AT $16,916.61
(Stretch goal- do this by my birthday, August 20).
(Stretch goal #2- also max out my Roth IRA).

$3,539.21 in student loan remains. NOW AT $3,457.15
$13,590.12 in credit card debt remains. NOW AT $13,459.46

Do not rack up any new debt (besides unavoidable interest charges on the above). ALL GOOD HERE SO FAR

Other personal goals:

Lose 20 lbs (so I'd weigh 170) CURRENTLY 191, GAINED A POUND. DAMMIT

Decrease restaurant/bar/alcohol expenses by 30% from 2016. Just ran the numbers for 2016 and holy poo poo. I spent $5,007.99 on restaurants and bars and alcohol. That's $417.33 a month. Every month. Jesus Christ.

30% decrease would be $3,505.59, or $292.13 per month. That's a non-negotiable for me. Has to happen. Stretch goal here is to spend less than $2,500 in both categories combined. JANUARY: SPENT $407.00. DAMMIT

Not a great month overall. Going to have to do better with planning meals in advance for work- I did this well the first half of the month but the last half wasn't great. Going grocery shopping tomorrow. The less I eat lovely restaurant food, the faster I kill debt and the easier I'll lose weight. I'm cutting beer entirely until I hit the weight loss goal and will be drinking sparingly, if at all, between now and then. February will be a better month.

# ¿ Feb 1, 2017 06:47

Referee: Aug 25, 2004; "Winning is great, sure, but if you are really going to do something in life, the secret is learning how to lose. Nobody goes undefeated all the time. If you can pick up after a crushing defeat, and go on to win again, you are going to be a champion someday."
(Wilma Rudolph)

Nail Rat posted:

Done!

Well, now what are you gonna do with the next 11 months?

Seriously, nice job!

# ¿ Feb 1, 2017 16:52

Referee: Aug 25, 2004; "Winning is great, sure, but if you are really going to do something in life, the secret is learning how to lose. Nobody goes undefeated all the time. If you can pick up after a crushing defeat, and go on to win again, you are going to be a champion someday."
(Wilma Rudolph)

End of Q1 update in bold below. Q1 has not been kind to me financially, particularly March (March 1st my car died and required $1150 in repairs, March 2nd my phone died and required a $165 replacement fee), but I managed to do both without dipping too far into the red. Still need to drastically cut down on restaurants and am planning to take April off completely from drinking.

IllegallySober posted:

My 2017 goal is to become debt-free by paying off $17,129.33 in debt. NOW $16,815.06
(Stretch goal- do this by my birthday, August 20).
(Stretch goal #2- also max out my Roth IRA).

$3,539.21 in student loan remains. NOW $3223.06
$13,590.12 in credit card debt remains. NOW $13,592.00- Q1 payments were offset by $643.96 of the car repair as new debt

Do not rack up any new debt (besides unavoidable interest charges on the above). FAILED FOR NOW- CAR REPAIR EXCEEDED EMERGENCY FUND

Other personal goals:

Lose 20 lbs (so I'd weigh 170) NOW 190, NO CHANGE, gently caress

Decrease restaurant/bar/alcohol expenses by 30% from 2016. Just ran the numbers for 2016 and holy poo poo. I spent $5,007.99 on restaurants and bars and alcohol. That's $417.33 a month. Every month. Jesus Christ.

30% decrease would be $3,505.59, or $292.13 per month. That's a non-negotiable for me. Has to happen. Stretch goal here is to spend less than $2,500 in both categories combined. AVERAGED $386.06/MONTH FOR Q1. NOT ACCEPTABLE

# ¿ Apr 1, 2017 22:54

Referee: Aug 25, 2004; "Winning is great, sure, but if you are really going to do something in life, the secret is learning how to lose. Nobody goes undefeated all the time. If you can pick up after a crushing defeat, and go on to win again, you are going to be a champion someday."
(Wilma Rudolph)

April was a whole lot better than March! Received the biggest tax return of my life (nearly $5,000!) and used it to completely pay off my student loan :hellyeah:

as well as replenish my emergency fund from the March expenditures and put the rest aside for future car repairs. Updates in bold caps below

IllegallySober posted:

My 2017 goal is to become debt-free by paying off $17,129.33 in debt. NOW $13,313.80
(Stretch goal- do this by my birthday, August 20).
(Stretch goal #2- also max out my Roth IRA).

~~$3,539.21 in student loan remains.~~ GONE 4/16/17
$13,590.12 in credit card debt remains. NOW 13,313.80

Do not rack up any new debt (besides unavoidable interest charges on the above). LOOKING GOOD HERE NOW THAT EMERGENCY FUND REPLENISHED

Other personal goals:

Lose 20 lbs (so I'd weigh 170) NOW 190.1. THIS AND RESTAURANTS ARE MY MAJOR MAY GOALS

Decrease restaurant/bar/alcohol expenses by 30% from 2016. Just ran the numbers for 2016 and holy poo poo. I spent $5,007.99 on restaurants and bars and alcohol. That's $417.33 a month. Every month. Jesus Christ.

30% decrease would be $3,505.59, or $292.13 per month. That's a non-negotiable for me. Has to happen. Stretch goal here is to spend less than $2,500 in both categories combined. APRIL WAS $252.40. A STEP IN THE RIGHT DIRECTION BUT MAY HAS TO BE EVEN BETTER

# ¿ May 1, 2017 06:53

Referee: Aug 25, 2004; "Winning is great, sure, but if you are really going to do something in life, the secret is learning how to lose. Nobody goes undefeated all the time. If you can pick up after a crushing defeat, and go on to win again, you are going to be a champion someday."
(Wilma Rudolph)

Proposition Castle posted:

Finished. Just submitted my last payment and have had the opposite of a panic attack for the last 20 minutes. Gonna play my trombone now so there's at least some sort of fanfare.

You killed $47K of loans in like five months? That's seriously impressive.

# ¿ Jul 28, 2017 21:57

Referee: Aug 25, 2004; "Winning is great, sure, but if you are really going to do something in life, the secret is learning how to lose. Nobody goes undefeated all the time. If you can pick up after a crushing defeat, and go on to win again, you are going to be a champion someday."
(Wilma Rudolph)

That's a seriously cool picture. Nice work!

# ¿ Aug 8, 2017 17:16

Referee: Aug 25, 2004; "Winning is great, sure, but if you are really going to do something in life, the secret is learning how to lose. Nobody goes undefeated all the time. If you can pick up after a crushing defeat, and go on to win again, you are going to be a champion someday."
(Wilma Rudolph)

metallicaeg posted:

My posts in the 2018 thread will p much be "still broke, still comically in debt, but hopefully a little less so as the year moves along"

I'm sorta in this boat too but want to keep accountable. I need to post a 2017 progress report in here soon, too.

# ¿ Nov 22, 2017 18:21

Referee: Aug 25, 2004; "Winning is great, sure, but if you are really going to do something in life, the secret is learning how to lose. Nobody goes undefeated all the time. If you can pick up after a crushing defeat, and go on to win again, you are going to be a champion someday."
(Wilma Rudolph)

zaurg posted:

I'm gonna thrown down on that 2018 thread.

Yeah, buddy.

How goes life?

# ¿ Nov 27, 2017 00:04

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# ¿ May 2, 2024 00:58

Referee: Aug 25, 2004; "Winning is great, sure, but if you are really going to do something in life, the secret is learning how to lose. Nobody goes undefeated all the time. If you can pick up after a crushing defeat, and go on to win again, you are going to be a champion someday."
(Wilma Rudolph)

IllegallySober posted:

My 2017 goal is to become debt-free by paying off $17,129.33 in debt.
(Stretch goal- do this by my birthday, August 20).
(Stretch goal #2- also max out my Roth IRA).

$3,539.21 in student loan remains.
$13,590.12 in credit card debt remains.

Do not rack up any new debt (besides unavoidable interest charges on the above).

Other personal goals:

Lose 20 lbs (so I'd weigh 170)

Decrease restaurant/bar/alcohol expenses by 30% from 2016. Just ran the numbers for 2016 and holy poo poo. I spent $5,007.99 on restaurants and bars and alcohol. That's $417.33 a month. Every month. Jesus Christ.

30% decrease would be $3,505.59, or $292.13 per month. That's a non-negotiable for me. Has to happen. Stretch goal here is to spend less than $2,500 in both categories combined.

Not a great year, financially.

Killed off the student loan, but still have CC debt to the tune of $11,144.12. On the plus side, I did not add any debt beyond interest.

I did not max the Roth but did slightly increase contributions. Only wound up putting in $800 total though. Have to kill the CC debt before I can fee good about increasing this.

Did not lose 20 pounds. Lost 10 and kept it off for most of the year but put them back on in the last two months. This will be a 2018 goal again but with more action steps.

I don't have my restaurant/bar numbers in front of me right now but did very well on the bar (quit drinking for four months from August-November, which helped). Unfortunately I'm pretty sure I put that savings back into the restaurant budget. Another area for 2018 where I'll have to make a better SMART goal. I'll edit in these numbers later.

Will post updated goals in the 2018 thread this week.

:saddowns:

# ¿ Jan 3, 2018 19:29

The Something Awful Forums > Discussion > Ask/Tell > Business, Finance, and Careers > Financial Goals 2017: Budget Harder