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October Savings

November 3rd, 2019 at 07:15 am

Received $70 bank interest for the month of October.

Snowflakes:
--Redeemed $39 credit card rewards (cash back) from our gas/grocery card.
--Redeemed $133 cash back on Citi card.
--Redeemed $18 cash back on dining/gas/grocery card.

Other snowflakes:
$ 5 Savings from Target Red Card (grocery purchases)

{Note: Did not put snowflakes to investments this month,applied to large expenditure}

401k Contributions/Match:
+$750

Snowball to Savings:
+$ 900 MH Paychecks
+$ 100 MH Focus Group
+$ 265 Self-employment income

TOTAL: $1,265 snowballs to savings

Savings (From my paycheck):
+$ 550 to cash (mid-term savings)

Mid-Term Savings (cash saved for non-annual expenses/emergency):
-$ 3,700 Orthodontist**

Short-Term Savings (for non-monthly expenses within the year):
+$1,400 to cash
-$ 460 Car Insurance
-$ 260 Electricity^ (for prior year, electric car)
-$ 190 Misc.
-$ 120 Prepay school lunch

TOTAL: -$695 Net
(Invested +$750, -$1,445 from cash)


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^Electricity expenditure ~ we have balanced billing and so though we added an electric car to our household we haven't really been paying for it. Had a $260 accumulation I could have spread over next 12 months, but I just wanted to pay it off and be done. I didn't want to spend the next 12 months paying for the last 12 months of car charging.

Prediction from last month:
October should be a good money month.

Things went as predicted. We would have had +$3,000 to savings/investments if it wasn't for another orthodontist surprise. (More Below). & to be clear, I am in "significantly reduced salary" mode.

Unfortunately, November will not be any prettier. I just pulled $5,500-ish out of savings so that I can get property taxes covered for the next year. I am paying a little early and pre-paying. This goes in the "simplicity" category. Don't want to think about it for another 12 months.

**Most of the Citi card reward was due to charging some orthodontist expenses to a credit card. It was very out of nowhere, so I immediately pulled from savings and just paid it off. (This is what we had decided to do for LM, but MH just presumed we'd come to the same conclusion with kid #2. He didn't even talk to me about it! Just came home to, "I spent $4,000 today.") MM went in for a consult and he was recommended a similar treatment plan to his brother. I think it's probably where we would have ended up but I was just dumbfounded that MH didn't discuss with me. (I think this is just a side effect of us both being so run down by life at the moment). On the flip side, he was in such a hurry to pay, he whipped out the credit card. That's good because I got about $75 cash back to offset the cost. Wish I had known for DL's braces. All their fine print was that there was a fee for credit card. Just another reminder that it never hurts to ask! I swear, fine print is usually optional, from my experience. When it comes to bigger purchases.

I had been planning to spend around $12,000 on braces this year (expected scenario) and we are up to about $8,000 so far. So, it was kind of *shrugs* in the end. It probably helped that I was being very cognizant this was precisely why we had so much extra cash and everything has been pretty zen lately. We over-prepared, as we tend to do.

I just threw all the credit card rewards (this month) to offset the ortho costs.

October was some crazy month from hell, as they all are any more. So honestly, this was probably the most boring thing that happened. In fact, that was a "calm" week. I remember thinking it was sad that waiting for MH's MRI results and getting a surprise $4,000 bill is what I consider calm.

& there is more. Now, MM(16) is being referred to jaw surgery. The saving grace is I have two boys. The surgery I had at 16, they don't do until 20s for boys. Because they are still growing. DL(14) has my same jaw and was referred to surgery at age 23? That is very grey area with "cosmetic surgery for medical reasons" and not sure how that will shake out. I don't know what the heck MM(16)'s deal is but it's not the same. I believe they said age 26 for MM. But, the Ortho did happen to mention that our insurance had never turned down covering this particular surgery (if he referred). So that was a nice heads up. Regardless, both cans are getting kicked *way* down the road. It really really sucks that they both have to deal with this, but I don't have any room whatsoever in my brain (right now) for "things that may or may not happen in another 10 years."

September Savings

October 6th, 2019 at 07:07 am

Received $73 bank interest for the month of September.

Snowflakes to Investments:
--Redeemed $53 credit card rewards (cash back) from our gas/grocery card.
--Redeemed $56 cash back on Citi card.
--Redeemed $8 cash back on dining/gas card.

Other snowflakes to investments:
$ 3 Savings from Target Red Card (grocery purchases)
$ 20 Citi Price Rewind
$150 Dividend

TOTAL: $290 snowflakes to investments

401k Contributions/Match:
+$700

Savings (From my paycheck):
+$ 550 to cash (mid-term savings)

Short-Term Savings (for non-monthly expenses within the year):
+$1,400 to cash
-$ 210 Car Maintenance (new battery/oil change)
-$ 160 Misc. Purchase MH (disability related)
-$ 70 Misc. Purchase MH

TOTAL: $2,573 deposited to cash and investments

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I don't think that things could be any more financially mellow. I am experiencing the reward of working my butt off earlier in the year. Phew!

October should be a good money month. MH received a 12%+ raise (minimum wage increase) and was asked to work more hours. It's becoming more obvious that we should just use his income to fund our IRAs. But 2019 is well covered so we will probably start that in 2020. I also have about $500 in side work to bill, so we will have a few snowballs to add to savings.

Anyway, I can tell you that money has been entirely in the background through all of this, but it's just even moreso right now. We had a lot of big expenses earlier in the year, but it's just a little slice of quiet and calm right now.

March Savings

April 3rd, 2019 at 04:43 pm

Received $83 bank interest for the month of January.

Also received a $150 bank bonus.

Snowflakes to Investments:
--Redeemed $30 credit card rewards (cash back) from our gas/grocery card.
--Redeemed $46 cash back on Citi card.
--Redeemed $9 cash back on dining/gas card.

Other snowflakes to investments:
$ 4 Savings from Target Red Card (grocery purchases)
$100 Tax Refund
$170 Dividend

TOTAL: $359 snowflakes to investments

401k Contributions/Match:
+$800

Snowball to Savings:
+$ 0 MH Paychecks
+$ 750 February self-employment income

TOTAL: $1,550 snowballs to savings

Savings (From my paycheck):
+$ 550 to cash (mid-term savings)

Mid-Term Savings (cash saved for non-annual expenses/emergency):
-$ 890 Elliptical purchase (dropped gym membership)**

**My super awesome discount gym closed and transferred my membership to a really crappy gym.

Short-Term Savings (for non-monthly expenses within the year):
+$1,400 to cash
-$ 450 Misc. Expenses (school lunches pre-paid for a few months, medical bills, etc.)

TOTAL: $2,750 deposited to cash and investments

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Last month's commentary:

Still just hoarding cash. Second job is winding down (I hope). I have $3k medical bills coming up, want to pay cash for braces this year (x2), have to cover all my professional expenses going forward, etc., etc. Just hoarding cash for all that, and preparing for a big income drop this summer.

I don't know what happened to MH's income. I wasn't able to save any of it (around $900) which is totally ridiculous. But I am still pretty buried and it is most likely an accounting error. Either that or we over-spent something like $400 last month and $400 this month. That is more likely. I know we didn't over-spend $900 this month. Anyway, I share to explain why I saved -$0- of that, but will chalk that up to "life is chaos." Because I track our spending so closely, is why I am fine with, "I don't have time to track it down and don't care." I suppose is the flip side of working crazy hours/extra money. Our life is usually more slow/relaxed, and lots of time to pinch pennies. Life is just the polar opposite of that right now.


All of this is still true. I put $2,000 medical bills on new reward card. I pulled this out of savings in April, along with $11,000 to fund IRAs (for 2018). All of this will show up on my April report.

{I ended up funding our IRAs today}.

I also didn't save any of MH's income in March (again) and couldn't tell you why. It's kind of moot because March is really just paying all of February expenses (credit card charges). So this month was already over (spending-wise) when I did my last monthly update. I don't know that anything has particularly changed, but March expenses (paid in April) ended up balancing to about the penny. & that was during a crazy busy month when I doubt we were particularly frugal (except for being too busy to spend money). I actually just found $150 I accidentally transferred to savings for April, and will fix that by the end of the month. I expect I might find more stuff like that if I look back the last two months.

Net worth is up about $40,000 for the year. Or about 2/3 of our annual goal. Most of that is stock market recovery from end of last year.

I will try to do some more work posts later. But I am starting to feel more *chill* about dropping second income. Some of my reluctance to drop the second income was not having any real idea how things would go with new job. But after 6 months, I feel pretty confident I have found a long-term work home. I also think it's pretty likely I will replace my old salary this year (with the one job). This was part of my strategy and willingness to take a pay cut in the interim.

February Savings

March 3rd, 2019 at 06:47 am

Received $80 bank interest for the month of
February.

Snowflakes to Investments:
--Redeemed $50 credit card rewards (cash back) from our gas/grocery card.
--Redeemed $89 cash back on Citi card.
--Redeemed $13 cash back on dining/gas card.

Other snowflakes to investments:
--$13 Savings from Target Red Card (grocery purchases) ~ this month included some clothing purchases

TOTAL: $165 snowflakes to investments

401k Contributions/Match:
+$730

Snowball to Savings:
+$ 0 MH Paychecks
+$2,500 January self-employment income

+$ 200 Missed prior month when moving money around - moved back into savings

TOTAL: $2,700 snowballs to savings

Savings (From my paycheck):
+$ 550 to cash (mid-term savings)

Mid-Term Savings (cash saved for non-annual expenses/emergency):
-$ 360 Driving School (for 15-year-old)

Short-Term Savings (for non-monthly expenses within the year):
+$1,400 to cash
+$ 210 Insurance Rebate
-$1,289 Various Insurance
-$ 175 Dentist
-$ 200 Vacation (Weekend Away)

TOTAL: $3,800 deposited to cash and investments

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Driving school was very one-off and nothing I specifically saved for, so it comes out of the mid-term savings.

Still just hoarding cash. Second job is winding down (I hope). I have $3k medical bills coming up, want to pay cash for braces this year (x2), have to cover all my professional expenses going forward, etc., etc. Just hoarding cash for all that, and preparing for a big income drop this summer.

I don't know what happened to MH's income. I wasn't able to save any of it (around $900) which is totally ridiculous. But I am still pretty buried and it is most likely an accounting error. Either that or we over-spent something like $400 last month and $400 this month. That is more likely. I know we didn't over-spend $900 this month. Anyway, I share to explain why I saved -$0- of that, but will chalk that up to "life is chaos." Because I track our spending so closely, is why I am fine with, "I don't have time to track it down and don't care." I suppose is the flip side of working crazy hours/extra money. Our life is usually more slow/relaxed, and lots of time to pinch pennies. Life is just the polar opposite of that right now.

January Savings

February 10th, 2019 at 09:13 am

I am reviving my "monthly savings" posts. I abandoned last year because I knew I would just be in hoarding cash mode. Not very exciting. But in the end, I didn't have time for this, so probably for the best. Going forward, I should have time to keep up with these:

Received $67 bank interest for the month of January.

Snowflakes to Investments:
--Redeemed $0 credit card rewards (cash back) from our gas/grocery card.
--Redeemed $83 cash back on Citi card.
--Redeemed $10 cash back on dining/gas card.

Other snowflakes to investments:
--$5 Savings from Target Red Card (grocery purchases)
--$8 "Price Rewind" for washer/dryer purchase

TOTAL: $106 snowflakes to investments

401k Contributions/Match:
+$686

Snowball to Savings:
+$ 500 MH Paychecks
+$1,500 December work for old/forever employer

TOTAL: $2,000 snowballs to savings

Savings (From my paycheck):
+$ 550 to cash (mid-term savings)

Mid-Term Savings (cash saved for non-annual expenses/emergency):
-$0 No Mid-Term Expenses this month

Short-Term Savings (for non-monthly expenses within the year):
+$1,400 to cash
-$ 800 Home Insurance

TOTAL: $4,000 deposited to cash and investments

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I had been putting $300/month to savings and investing $250/month into taxable investments. I just combined these to "savings" for 2019. We are "retirement heavy" with more retirement space and new job situation. If nothing else, will eventually be redirecting that $250/month to our IRAs. Will abandon taxable investments, except for snowflakes.

I like to put snowflakes to either the mortgage or taxable investments, because it's a "small things add up" thing, and if we keep it in cash I have no problem not touching it, but at some point when you have an extra thousands of dollars laying around you will be tempted to spend it. So I always tie up snowflakes in things I won't touch. I am going to fund retirement regardless, so that leaves taxable investments or mortgage.

On the income front, I traded $11,500 reduced salary for $7,500 401k contributions/match and significantly reduced taxes. Just means we can fund 401k with $7,500, without reducing our cash flow at all. So I am really only short $4,000 net; $4,000 less going to retirement. I expect to easily make that up this year with raise/bonuses. (& I've already made that up with side income, but more long term I'd let to get my net salary where I left off, with just the one job).

I've also lost the OT, which we were throwing at the mortgage. So we will stop mortgage pre-payments for the short run. We may stop indefinitely. We just want to pay cash for our next home when we downsize and we have achieved that goal (we have enough equity to do so: $300,000+). But we don't want to make this move until our kids are adults and done with high school. For now, we would rather fund our IRAs, and otherwise hoard cash for college and a down payment on our next home (we expect to buy our downsize before we sell this home, the down payment will keep things more flexible). That's our plan for now, but I do expect things to change significantly in the next 5 years. It's a very loose plan, but just to explain why the mortgage will fall off our radar for a while.

We are doing well on extra cash/side income, but we also want to fund our IRAs (in addition to the above retirement savings). We have three cars now, both kids need braces, college is right around the corner, we have some home improvements to tend to, etc. Oh, and the down payment we want to work on. We are going to be in "hoard cash" mode with the extra income.

We've also already maxed out our medical deductible for the year. I don't expect this side income to really remain in our account very long.

P.S. If it isn't not obvious, our emergency funds remain entirely intact. I did not end up having any time off work, beyond what was covered by PTO owed to me.

2019 Goals

December 30th, 2018 at 06:49 am

I decided to put up my 2019 goals on sidebar. Which are pretty much the same as 2018, except that my $12,000 salary decrease means that we will have to fund IRAs from other monies.

Our health insurance went up $50/month and I may have some more expenses with the third car, BUT I already lowered our expectations about funding IRAs, so just didn't want to cut back on any of our other savings. So I probably committed to saving at least $50/month I don't have, but I suppose I am presuming I will eventually get a raise to cover it.

Money that was going to taxable investments before, is now going to 401k. From a net worth standpoint, it's all well and good, but I am not thrilled because I feel like I need a bajillion dollars cash (teen drivers x2, braces x2, home repairs, etc., all in the very near future). "College savings" is accordingly on the back burner again, but I am okay with earmarking ROTH money (for college) during years we contribute 20%+ to retirement. Otherwise, it wouldn't make any sense to be so retirement heavy, at the expense of the rest of our finances, but everything is so "hell if I know," I'd rather err with piling up ROTHs.

I do also expect some side income in 2019, but will just be hoarding up cash to fund IRAs and to pay for big planned expenses.

2018 Goals

December 29th, 2018 at 06:42 am

I am just cutting and pasting so that I can update my sidebar for 2019 goals. I expect a $20,000 decrease in salary/wages/OT, and so 2019 numbers will be more muted. Though honestly, by the time you factor taxes/401k (allows me to contribute 9% to retirement while keeping our cash flow the same), and extra/side business income, I expect 2019 to probably be about the same (cash flow) as 2018 (which was a very flush year for us). The one big change is that we will be very retirement heavy, as a result, which I mentioned below.

2018 Goals

**Financial**

[/]$11,000 to IRAs 2018 (MAX)
...($6,090 @ 10/31/18)
...We save $900/month
UPDATE: I diligently saved $900/month until I decided to quit my job in August.
For 2019, I have to abandon funding IRAs from *my* income.
I took a $11,000 pay cut, so this is the obvious solution. We will max out our IRAs regardless; will fund with other income or assets.

On the flip side, I am contributing 9% to a new 401k (my contribution + employer contribution). My contribution is a complete wash with reduced income taxes. So I am able to contribute 9% to retirement without coming up with more money. This is very reminiscent of our early one-income years when I had 10% work retirement contribution and we just funded IRAs with other monies. In both cases, we were contributing 20%+ of our gross income to retirement and didn't have much left for other savings/investment vehicles.

We will be "retirement heavy" until I get a raise and/or MH returns to work full-time.


**NOTE: WE DID FUND OUR IRAS, BUT JUST NOT FROM MY INCOME**

[ ]$5,000 to savings
...($0 @ 12/31/18)
...$300/month, plus interest.
...Topping off with snowballs
UPDATE: Savings was up about $8,000. I funneled everything into cash this year in prep for job transition. But I ended up putting all this money towards a car purchase. The net result is -0- change to savings.

[ ]$9,000 to investments
...($1,500 @ 12/31/18)
...$250/month, plus snowflakes
...Will also invest tax savings ($2,000) when contribute to Traditional IRAs
...Will top off goal with snowballs
UPDATE: Due to job instability and substantial decrease in income, have only contributed 'snowflakes' to investments this year. Goal for 2019 will be to fund retirement instead. This is due to a combo of less income and more retirement space to utilize.

[ ]$3,000 to mortgage
...($0 @ 12/31/18)
...$3k per year to pay off in 20 years (from last refi); also ensures that we pay more principal than interest
...Funded with overtime
UPDATE: Will probably abandon this goal for 2018 and future. I am no longer working OT (new job) and was never paid for the OT I worked in 2018.

Goal savings rate = 30% of gross

**Actual savings rate = lord if I know. I am just so happy that I have been able to cash flow the insanity this year. Mostly, we funded IRAs and threw our snowflakes into investments. We did also throw about $1,000 into MH's 401k. Savings rate was probably around 15%.**

In addition, we save 100% of MH's (net) income ~ most goes to 401k/taxes.

**We only did the minimum for match this year because I expected employment upheaval. This is just a very small part-time/seasonal income, and was probably -$0- after you factor taxes, 401k contribution, and covering my unpaid time off work.**