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Thread: Savers Club
07-15-2015, 02:58 PM #1
Having just slayed the debt dragon (a $28,000 beast), we are finally able to put our focus on SAVINGS!
And does it ever feel good! I was just reading some of my old posts from 2 years ago, and how overwhelming that debt was. But the kind words and advice of fellow FVers helped me through, and all the hard work and tears was so well worth it.
I think I'm still a bit mystified at not having the debt to pay, but I have some goals in mind, and I am really hoping others will want to join me in achieving their own savings goals! This could be a very fun and inspirational thread!
Let's let the party begin!
07-15-2015, 03:04 PM #2
07-15-2015, 04:06 PM #3
I've got a list of planned expenses for the rest of the year. We've got quite a few saved up for already (summer time fun stuff, clothing funds, back to school fund, new puppy supplies, etc).
We've got money set aside from the recent sale of our home for a chainlink fence (we have a deep pond at our new house), our new puppy (home in 3 weeks!), Invisible Fence (although we may wait to do that in the spring), and possibly/hopefully a new mattress because ours is horrible.
We have 100% of our BEF.
10-53% of this year's EF goal. DH wants to keep most of what we have saved available for the next couple months as we are figuring out the bills in our new house. We should absolutely be fine, but he feels better having this available, just to be on the safe side.
No official RESP set up yet but we've started savings until we get a rep in to help us decide on a plan. 40% of this year's goal met so far.
DH takes care of our retirement savings, I'm not sure what we have exactly. It's not where it should be at our age though (dang bi-product of carrying that stupid debt).
We have 50% of new snow tires saved.
16% of Christmas fund.
0% of Vacation fun.
That about sums up the savings goals for us!
We moved to a home that we can carry on just DH's income. Smartest move we've made in our nearly 9 married years.
We are down to just his income for now, but I am hoping to start up my home daycare business again. We'll see how this goes. We are in a new (tiny) town and live just on the outskirts in the country. Hopefully people will be willing to drive out of town (it's literally less than a minute drive). If I can't get any daycare kids, I will stay at home with the kids for a while before looking for work outside of the home. I do also sell my crafts, just started up my little side business.
Every penny counts!
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07-16-2015, 10:05 PM #4
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Congrats on paying off your debt! I hope to be in your position in a couple of years.
07-16-2015, 10:10 PM #5
Fantastic! Congrats on getting the debt-monkey off your back! We're in a kind of weird place right now- debt free except the house, have been for a few years now. Murphy's whalloped us but good lately, so our usual savings goals are dramatically reduced as we work to refill the EF and the vet/medical EF.
But, our usual savings goals include-
-next car purchase
-'moving' fund, to fix up our house and head south someday
Then there are the ones that get wiped out yearly-
-hubby's business insurance payment
Our EF and vet/medical EF are usually 'full' and need little attention. I can't wait to say that again!
So...what are YOU saving for, Cares?
07-19-2015, 06:42 AM #6
Congratulations. Everyone hates dept and its easy to get but hard to leave.
07-21-2015, 05:55 PM #7
Debt sucks. And ya, very hard to get out of. Took us almost 9 years (but only a few to rack it up), and we got out of it earlier than planned because we moved. Ya just gotta keep going. Keep going and keep going. all the hard work you put in to it and the decisions you make towards decreasing it will pay off one day.
Got a decent windfall, Ontario gov't increased the child tax benefit and went back 6 months too, with the payments. Woot! It's an election year, can ya tell? Put some in to our official EF and most of it in to regular savings (for sinking funds).
Enjoyed a nice day at the zoo today, we went to a smaller zoo and the 3 of us got in for the price of just one ticket to the big zoo. Was much more enjoyable too!
07-27-2015, 05:03 PM #8
Started vacation fund. I'd like tot ake the kids somewhere at some point in the next year. And September 2016 is Dh and I's 10 year wedding anniversary, we'd love to get away for the first time sicne having kids! I think I will be increasing the vacation fund goal, but will keep it as is for now.
07-29-2015, 04:47 PM #9
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Sign me up for club membership. At the age of 60, I am all about catching up on RETIREMENT savings, have only been steadily employed with 401(k) for about 4 years. So dw and I are all about the make-up contributions, Roth first, then 401. Just in case we become Greece, and "austerity measures" trim down the government checks we plan on getting.
07-30-2015, 05:56 PM #10
Come on in, Scout! ahhhhh you are closing in on retirement - awesome! all the best to you, and update often!
Personally, I added some snowflakes to Emergency Fund and Vacation.
I decided to go ahead and make that BIG goal of an AWESOME family vacation. We wanna take the kids to Disney! If we can manage to go in 5-6 months, that'd be great. They will be almost 7 and almost 4.
I'll tackle 10th wedding anniversary after that.... focussing just on getting Disney done first.
Did groceries for *hopefully* 2 weeks worth (minus some fresh produce in between). I find if I do a 2 week shopping trip, I spend WAY less than shopping for just 1 week.
07-31-2015, 11:06 AM #11
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But agree, every 2 is definitely the way to go if you can do it. Congratulations !Bank of America is THE godfather of Hell with Wells Fargo running neck and neck. When the world ends the only things that will be left are cockroaches, Walmart, Wells Fargo and Bank of America. Not necessarily in that order. The order remains to be seen.
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07-31-2015, 08:50 PM #12
Congratulations to you both for working so hard and achieving your goal!!!!! Give yourselves a big pat on the back!!
08-05-2015, 03:57 PM #13
We got our puppy! She is paid for, and we have her shots, exams and neutering all saved up for.
A wrench was thrown in to my "let's have TWO vacations next year!" idea. Musta been too greedy. lol. We really should be getting a generator before winter. We have the money for that right now. So I'll just keep saving for vacation and see where we're at. But really...... there's always "stuff" that comes up and mmmmmaybe two vacations away is a bit of a stretch
Put some more on vacation and education. Will update signature tomorrow though when the money goes through officially.
How are you all doing?
08-10-2015, 02:54 PM #14
I'm pumped! Finally transferred the money we had saved for EF to our actual EF account! We have met 100% of this year's goal for it. Will continue to put in the minimum automatic savings each month.
My grandmother gave the kids a little bit of money, so we put it in their education savings. In the past we would've blown that on toys they were going to play with for a week. This feels better!
Khaski, Scout, and anyone else reading.... how are you doing?
Last edited by Cares; 08-10-2015 at 03:23 PM.
08-14-2015, 02:01 PM #15
Finished up our Christmas Fund savings. Maybe now I need to start thinking about what to get DH for his present! He is a GREAT gift giver. I always have a hard time coming up with something great for him (that won't break the bank... he has expensive taste, that man!).
It's not in my signature, but we finished up saving for winter tires as well. Snow's gonna start flying before we know it. Bleck.
Hope you all have a great weekend coming ahead of you!
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