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January Savings

February 1st, 2016 at 06:19 am

Received $35 bank interest for the month of January.

Snowflakes to Investments:

Redeemed $50 credit card rewards (cash back) from our gas/grocery card.

Redeemed $45 cash back on Citi card.

Redeemed $10 cash back on Visa/dining card. {Lots of eating out in January, with a couple of weekends out of town}

I have officially phased out 5th credit card (ROTH rewards) and so all my ongoing rewards are now just cash back. 4th credit card is Target card. I suppose I should add those savings to snowflakes too. For January it's a whole whopping $1.50 saved (I have no idea how or why we only spent $30 at Target this month. Is probably a record low. Dh manages the grocery shopping there). I'll add that to "other snowflakes".

Other snowflakes to investments:
--$25 Ting Credit
--$1.50 Savings from Target Red Card

Snowballs to investments:
--Invested $2,500 tax savings (for funding Traditional IRAs)
(Funded $1,500 with tax refund + moved $1,000 over from savings)

Savings (From my paycheck):

+$200 to investments
+$300 to cash
+$900 to IRAs

Short-Term Savings (for non-monthly expenses within the year):

+$1,300 to cash
-$750 Various Insurance


Dh did not work this month. I received a small raise that just covers increasing expenses. So I just kept our savings goals the same as prior year.


First 4 months of year is low-spend/high-save, generally. Will hoard up cash for medical expenses (dh had an MRI this month) and some home repairs. We also want to save $10k in addition for car replacement.

3 Responses to “January Savings”

  1. FrugalTexan75 Says:

    I just found out that the Brinks pre-paid card changed their savings interest rate to .50% instead of 5%. So I lost about $10 of interest. Ugh! Although I did get a referral credit of $20, so I guess it's a $10 increase. But still...

    Good job on all your savings!

  2. MonkeyMama Says:

    Oh no! I was probably going to wait another few months until we could save up another $5k, and figured I'd watch their interest rates. I wasn't expecting such a drastic drop so soon. But I suppose is not surprising. The internet is great for sharing information, and for killing great deals like that when word spreads.

  3. FrugalTexan75 Says:

    Yep, that it is.

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