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I’ve never shared my goals publicly before. I love reading the old threads. They’ve been educational and motivating, and I hope I can do the same for someone. The largest change I anticipate this coming year would be purchasing a home. I have quite a few goals because I think the interaction between them will make me more disciplined: 1. Increase emergency fund to $10,000. Currently at about $7,650. 2. Reduce private student loan to less than $10,000. Current balance: $18,300, about 3.5% interest. Yes, I know this is less than inflation/HYSA/target funds, etc. I know. But I hate, hate, hate paying on this every month, and if I do the minimum it will be another 4+ years. For various reasons, I want to be more aggressive. I pay the minimum on my federal loans due to PSLF. 3. Contribute average of $150/month to Roth IRA. I have a 401K and contribute a total of 15% between me/employer/match. 4. Rollover 401K balance from previous employer. 5. Invest at least $1,000 in S&P 500. 6. Net worth >$120,000, excluding potential mortgage. Currently about $78,000. Not sure I can achieve this one because there is too much depending on investments. 7. Keep grocery/toiletries/beauty spending to an average of $350 or less per month. 8. Save $3,200 for trip by April 15th. Currently at $2,350. 9. Continue to save at least $400 per month in house-specific fund. I'm almost to my current goal, but whether I get a place or not I need to keep saving to be prepared for unexpected costs. And, if takes way longer than I think, saving more should get me either a better monthly payment or a better place. Edit: Adding personal goals: 10. Read 40 books. 11. Work out 15 times per month. 12. Practice piano 1.5 hours a week. It's very little, but I am at 0 for past several months. Hannot fucked around with this message at 00:49 on Dec 4, 2023 |
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Dec 4, 2023 00:40
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| # ¿ May 22, 2024 09:23 |
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Turbinosamente posted:I don't know if I should be heartened or dismayed that so many of us are hoarding money for eventual house down payments. I feel really lucky that homes are still decently affordable in my city, especially when I look at others of comparable size in my state. They have doubled for the most part over COVID, but they were super cheap anyway, which I don't think is going to last even five more years. It's added a bit of urgency to buying, but not extremely so. Part of me feels that I should be content to rent and save a bit more, but I have been planning for two years and it's really only possible because of a raise I got this year. Which isn't even isn't that much more, despite being nominally a good amount, thanks to inflation. Are you going for 20% down? That's been my goal but if interest rates fall more I might go for 15%. I really admire everyone being diligent about this in places where the market's been crazy-crazy. Already have a couple minor revisions to my goals after playing with my spreadsheets -- not too different, but realized particularly that the net worth goal is just not sensible when I'm talking about purchasing.... I really feel like just knowing it's ON THE INTERNET will help me be steady. Thanks for making the thread!
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Dec 10, 2023 19:22
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Happy New Year, all. ~final goals~ Hannot posted:
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Jan 1, 2024 20:24
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January OK month. Overspent in a couple areas, and it was a huge, huge help to have several hundred from getting a refund on payments. Lost another bid on a house today -- I'm not heartbroken because I didn't love it but it was a really good one and me and others lost out to an all-cash buyer who I strongly suspect is going to rent it out. I would like to think it went directly to a family/individual but I doubt it. Onwards! Not a goal, but I put in to increase my 401K contributions by 1%.  1. Increase emergency fund to $10,000. $8,321 (+$363) 2. Reduce private student loan to less than $10,000. $16,999 (-$781) 3. Contribute average of $150/month to Roth IRA. $250 4. Rollover 401K balance from previous employer. No action. Waiting til I purchase house because I'm afraid of messing something up during the process. 5. Invest at least $1,000 in S&P 500. Set $100 aside, nothing invested. 6. Increase net worth by 50%, excluding mortgage/home value if applicable. +5.9% 7. Keep grocery/toiletries/beauty spending to an average of $350 or less per month. $440. Oof! I did stock up on stuff I had coupons for (not subtracted here), but I'm not confident I'll do better this month. 8. Save $3,200 for trip by June 15th. $2,800 (+$400) 9. Save average of $350 per month in house fund. $550 10. Read 40 books. None. Two in progress. Bad. 11. Work out 15 times per month. 10/15 12. Practice piano 1.5 hours a week.lol Hannot fucked around with this message at 00:46 on Feb 2, 2024 |
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Feb 2, 2024 00:41
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LanceHunter posted:February Update. Not doing great... I don't think you should downplay this one, though. That's a big chunk. February Anxiously awaiting March, which is a three-paycheck month for my tracking. I spent way too much on eating out which I rarely rarely do. There was one social occasion and another case of treating a friend, otherwise it was almost entirely due to not packing my lunch. LIKE A LAZY CHILD. Creating a special March goal to deal with this. Have some scheduled increased expenses, so I need to be careful. 1. Increase emergency fund to $10,000. $9,637.14 (+$1,316) Decided I should stop being a piecemeal a little here, a little there person, at least for some things. I took almost all my general savings and put it in the emergency fund so I can achieve this goal in March and be mostly done with it. 2. Reduce private student loan to less than $10,000. $16,530.22 (-$468.78) Still hate this thing even as I try to tell myself it is dumb to pay it off early. 3. Contribute average of $150/month to Roth IRA. +$350, average: $300/mo. 4. Rollover 401K balance from previous employer. No action. 5. Invest at least $1,000 in S&P 500. No progress. Set $100 aside, nothing invested. 6. Increase net worth by 50%, excluding mortgage/home value if applicable. Skipping because the "three paychecks in February and I'm pretending it's for March" and "people reimbursing me for big expenses this week" factors are gonna make it look too high and I'm too tired to go figure out what to subtract. I will do yearly increase next month. It went up, anyway. Yay. 7. Keep grocery/toiletries/beauty spending to an average of $350 or less per month. $475. Could have cut like $50 of this as unnecessary and $20 is still sitting in my freezer. Not looking good. Maybe I was too ambitious. We'll see....again. 8. Save $3,200 for trip by June 15th. Completed! (started at $2,400) 9. Save average of $350 per month in house fund. +$700, $625/mo. average 10. Read 40 books. 2/40 11. Work out 15 times per month. 7/15, down 3x from last month. 12. Practice piano 1.5 hours a week.Terrible. Special March Goals!! 13. Work out SEVENTEEN times. 14. Spend less than $100 eating out/on drinks etc. Hannot fucked around with this message at 00:02 on Mar 1, 2024 |
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Mar 1, 2024 00:00
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March Had an offer accepted on a house (!) I'd been admiring for months, but with a condition I didn't feel comfortable agreeing to. I still hope there would be some way to finagle it and I may be able to but I don't think they'd consider me again...A little frustrated because honestly if I had gone to the next step, and then they presented the condition after, I probably would have agreed! Sometimes I hate being so risk averse with money... 1. Increase emergency fund to $10,000. Achieved. Will add a little here and there, hopefully. 2. Reduce private student loan to less than $10,000. ~$15,980 (-~$450) 3. Contribute average of $150/month to Roth IRA. +$300, average $300/month. 4. Rollover 401K balance from previous employer. No action. 5. Invest at least $1,000 in S&P 500. $500 invested. 6. Increase net worth by 50%, excluding mortgage/home value if applicable. +6.8% this month, +16.5% for year. 7. Keep grocery/toiletries/beauty spending to an average of $350 or less per month. ~$450. Yeah, goal was too low. I could cut maybe $45 but I'm really not purchasing or wasting much. Maybe I should have a separate pet or health category. 8. Save $3,200 for trip by June 15th. Achieved in February. 9. Save average of $350 per month in house fund. +$900, average $710/month. 10. Read 40 books. 6/40 11. Work out 15 times per month. 11/15 12. Practice piano 1.5 hours a week. Terrible. Special March Goals!! 13. Work out SEVENTEEN times. 11/17, personal stuff and work and excuses. 14. Spend less than $100 eating out/on drinks etc. $107.10. Eh...$7.10 was truly wasteful, but I'll consider this a win. Rest was social and gifting to people so I feel fine about that.
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Apr 2, 2024 00:21
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| # ¿ May 22, 2024 09:23 |
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1. Increase emergency fund to $10,000. Achieved in March. ~$10,080 2. Reduce private student loan to less than $10,000. ~$15,615(-~$350) 3. Contribute average of $150/month to Roth IRA. +$50, average $237/month. 4. Rollover 401K balance from previous employer. No action. 5. Invest at least $1,000 in S&P 500. $550 invested. 6. Increase net worth by 50%, excluding mortgage/home value if applicable. -.16% this month thanks to investments, ~17% for year 7. Keep grocery/toiletries/beauty spending to an average of $350 or less per month. ~$500, average ~$465 8. Save $3,200 for trip by June 15th. Achieved in February. 9. Save average of $350 per month in house fund. +$600 10. Read 40 books. 6/40 11. Work out 15 times per month. Uh, forgot to track. 8? 12. Practice piano 1.5 hours a week. Terrible.
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Apr 30, 2024 01:58
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