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A place for Get Rich Slowly readers to ask questions
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It is currently Fri Oct 31, 2014 4:06 pm




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 Post subject: Re: adventures in the black
PostPosted: Sun Jan 20, 2013 8:12 pm 

Joined: Sat Dec 29, 2007 9:30 am
Posts: 579
opportunity costs:

1. class for spouse. this is kind of a big deal for him at work, and he might be able to leverage a reimbursement for the course registration + a raise in the range of 3-5x our outlay (travel will be extensive) once he completes it.

2. cheap(er ... not cheap overall) workaround for a very expensive part spouse's car needed. and some general car repair items.

we are no longer ahead in our planned savings timeline- but we're not behind.


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 Post subject: Re: adventures in the black
PostPosted: Fri Mar 01, 2013 5:48 pm 

Joined: Sat Dec 29, 2007 9:30 am
Posts: 579
20% down payment fund: fully funded. thanks, tax refund!

speechlessness and disbelief. i have nothing else to say on that. so moving on...

next up is getting a trust set up for baby. then a break.

going back to the very first post in this thread, here's our goal progress:
1. knocking out the rest of our student loans done 3/2011
2. building up retirement savings ongoing
3. building up the emergency fund to reflect new cost of living feels comfortable but might add slightly here
4. save for a down payment on a home 20% saved 2/2013

looking back to those early posts, it's so nice to pay ourselves rather than pay something off.

new goals:
1. continue retirement savings
2. add 20% more to emergency fund
3. baby savings (i'm hoping my upcoming career move will enable me to give him college benefits, but to be safe...)
4. additional savings for either car replacement fund or increasing down payment

not sure what else we should be focusing on. ideas?


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 Post subject: Re: adventures in the black
PostPosted: Mon Mar 11, 2013 7:08 am 

Joined: Mon Jan 11, 2010 9:06 am
Posts: 160
Location: Texas
Well, I think you've certainly got the basics covered.

You could think about saving for those items that you know will eventully need to be replaced, thereby moving them out of "emergency" status. I make a car savings payment each month and a house repair savings payment each month.

Or you can start saving towards whatever wants/goals you have. I really want to travel as a family, so I have an automatic monthly travel savings payment.


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 Post subject: Re: adventures in the black
PostPosted: Sun Mar 17, 2013 9:44 am 

Joined: Sat Dec 29, 2007 9:30 am
Posts: 579
i think a car replacement savings fund is a good move for us, Panda. thanks! once i get re-oriented, this will probably be the next focus. i expect to get several more years out of both cars, but advance preparation is helpful.


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 Post subject: Re: adventures in the black
PostPosted: Mon Jul 08, 2013 9:03 pm 

Joined: Sat Dec 29, 2007 9:30 am
Posts: 579
well, i'm back. as planned, we got our estate plan set up and paid for, then took a break from the rigorous savings plan. perhaps too much of a break, but we needed a bit of free-rein time after making that milestone down payment savings goal. we went back to visit family, took that long weekend in the mountains we've been wishing for, and purchased a bit of a longer-term investment to keep our cars going (since we plan to keep these for another 5 years or more).

all our work-related expenses have been reimbursed and credit cards back to zero. spouse's class ended up costing us a lot more than we had hoped, and though we did get reimbursement for the tuition this week, we got soaked for the rest pretty badly. we're still looking at a long-run payoff, though, so there's no sense getting too worked up about things that are over and done with.

at any rate, now it's time to get back down to business.

goals:
1. extend emergency fund
2. baby savings
3. additional savings (car replacement or increasing future house down payment)

more as we get going on these.


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 Post subject: Re: adventures in the black
PostPosted: Fri Nov 08, 2013 8:38 pm 

Joined: Sat Dec 29, 2007 9:30 am
Posts: 579
not much of note recently. been working away on the savings goals.

1. emergency fund: went ahead and increased it by 50%. just finished today. i think this is good.
2. baby's savings: slow going here, too focused on the emergency fund i guess. also, i want to put this into the stock market, but there is that minimum investment at vanguard thing. i've got to break through the minimum so i can just do this.
3. additional savings: ticking away on this one too. now that the emergency fund is done, i think 2 and 3 will get more attention.

i've been back and forth over a job offer that is, well, pretty stable. it would add security and better benefits, and massively reduce the need for that emergency fund we just put together. it's time for me to get a "real" job anyway.

net worth is approaching another nice round number. might hit it by the end of the year... or might fall just short. very nice to see this increasing trend continue, regardless.


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 Post subject: Re: adventures in the black
PostPosted: Sat Nov 09, 2013 5:49 am 

Joined: Mon Feb 04, 2008 7:35 am
Posts: 1148
Location: Maryland
Your ears must have been ringing because i was just thinking about you. Glad to hear that your goals are moving along nicely!

I thought your job was a real job. :) I guess if there's something better out there for you, go for it. Stability counts for a lot!

*hugs* Miss you.


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 Post subject: Re: adventures in the black
PostPosted: Sat May 17, 2014 11:53 am 

Joined: Sat Dec 29, 2007 9:30 am
Posts: 579
it's been a while...

1. emergency fund: steady. i'm feeling satisfied with where this is.
2. baby savings: super proud of this goal, got a nice little sum in the stock market at vanguard for him.
3. additional savings: haven't defined what this one is, but it's been a bit of a slush fund recently. it's working out fine.

so i took the job opportunity that was offered to me. it's been an adventure and required a bit of short-term hardship on several levels, but we're about to realize some of the benefits soon.

with the increased stability this will give us, we decided it's time to buy a house. running the NYT calculator (and fiddling with all the advanced stuff with real numbers, slightly biasing against changing from our current renting situation), i was stunned to see we'd be ahead in under 2 years by buying. yeah, rent is high here. and we have a nice down payment saved up. so that's the obvious direction to go next. we've got a pre-approval to basically spend whatever we'd like within our own spending limits- we will not borrow as much as they're offering us. we're speaking with an agent we know next week, and have already gone on a couple open house tours out of curiosity. i've been studying the market for months now, so it's time to start getting serious.

scary... i don't feel like a grown up yet.

miss you too, peachy!! hope things are going great up your way.


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 Post subject: Re: adventures in the black
PostPosted: Wed May 21, 2014 6:24 pm 

Joined: Tue Dec 17, 2013 5:59 pm
Posts: 45
Hi galactic!

I just read your entire thread and you inspire me! I've been feeling kind of "stuck" since we didn't meet our goal to have CC paid off in full this month (though we have been making great progress). *Crap* kept coming up causing us to use some money we had planned for debt repayment to pay for said crap. It helped reading that you had months of little savings progress and were just as frustrated. In the end you reached your goals so this gives me hope! Good for you! Keep up the good work!


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 Post subject: Re: adventures in the black
PostPosted: Mon Jun 09, 2014 5:23 pm 

Joined: Sat Dec 29, 2007 9:30 am
Posts: 579
good luck, Pisces! yeah, life throws a lot of frustration your way... i found that it's inevitable, and the only thing i really could control is how i dealt with it. hope you find your own way of dealing with the day to day. keep going!

well, i've got an update for the journal here...

we've got a contract on a house! the price was very good for the present market/neighborhood, and inspections are coming up very good. we will end up putting 15% down instead of 20%, reserving a good chunk of change to make some needed improvements and have a slush fund for things that pop up. our closing date is set for a couple weeks from now. so wish us luck on this deal.


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 Post subject: Re: adventures in the black
PostPosted: Tue Jun 10, 2014 4:57 am 

Joined: Fri Jul 10, 2009 6:57 am
Posts: 379
galactic wrote:
good luck, Pisces! yeah, life throws a lot of frustration your way... i found that it's inevitable, and the only thing i really could control is how i dealt with it. hope you find your own way of dealing with the day to day. keep going!

well, i've got an update for the journal here...

we've got a contract on a house! the price was very good for the present market/neighborhood, and inspections are coming up very good. we will end up putting 15% down instead of 20%, reserving a good chunk of change to make some needed improvements and have a slush fund for things that pop up. our closing date is set for a couple weeks from now. so wish us luck on this deal.


Good luck, galactic! Hope you get the house!


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 Post subject: Re: adventures in the black
PostPosted: Sun Jun 29, 2014 3:33 pm 

Joined: Sat Dec 29, 2007 9:30 am
Posts: 579
the house is ours!

83% LTV based on appraisal, no PMI, great interest rate. pretty pleased with the way all that worked out. it needs a little work put into it, but not that big a deal. we reserved a little cash for getting that stuff done.

moving sucks, moving in july really sucks, but it's a happy occasion.

very curious how our much utility expenses will go up...


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 Post subject: Re: adventures in the black
PostPosted: Mon Jun 30, 2014 9:38 am 

Joined: Fri Jul 10, 2009 6:57 am
Posts: 379
galactic wrote:
the house is ours!

83% LTV based on appraisal, no PMI, great interest rate. pretty pleased with the way all that worked out. it needs a little work put into it, but not that big a deal. we reserved a little cash for getting that stuff done.

moving sucks, moving in july really sucks, but it's a happy occasion.

very curious how our much utility expenses will go up...


Congratulations!!! Will it be possible to get that "little work" done before you move in?

Now you can join the mortgage payoff game...if you want to! :wink:

CecilyC


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 Post subject: Re: adventures in the black
PostPosted: Tue Jul 15, 2014 6:43 pm 

Joined: Sat Dec 29, 2007 9:30 am
Posts: 579
thank you! apparently not all of it, since it's clear we are running out of time. and thanks to tonight's torrential rains, we're discovering the drainage issues on the property and are looking at putting in a french drain... so we're heading right down the rabbit hole.

i'm content to spend the first couple of years paying a bit over the regular payment, but the terms on the loan are so good and the interest rate is so low (and now deductible) that i'm pretty comfortable.


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 Post subject: Re: adventures in the black
PostPosted: Mon Jul 28, 2014 6:58 pm 

Joined: Sat Dec 29, 2007 9:30 am
Posts: 579
first month (pre-move-in repairs plus moving costs plus stuff we realized we needed once we got here) have stung a bit, but we've taken them in stride.

we have a lot of windows. window coverings are not cheap. wow. in at least one instance we may have resorted to duct tape and paper bags as a temporary solution. high class...

slowly sorting out the mess and just about to turn over the keys to the old place once and for all.

i'm waiting on some reimbursements through work that should help us out quite a bit.

and then there are my adventures with improving drainage by relocating wheelbarrows full of dirt around the property.


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