Panda's Ponderings

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Panda
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Re: Panda's Ponderings

Postby Panda » Fri Jul 01, 2011 7:27 am

Progress:

1) Pay off GEMoney loan. - Complete!
2) Pay off car loan then continue $400/month into car fund. - Complete!
3) Max 401k/IRA. ($8625/$16500 - 52.3%, $2309/$5000 - 46.4%)
4) Save $6000 towards opening AssetBuilder account. - Goal on hold
5) Reach $8000 target emergency fund. ($6032/$8000 - 75.4%)

Things are feeling pretty good. I bumped up the rate at which I was putting money in the EFund as it seemed I was still gaining money in my checking account at the end of each month. Will need to start thinking about what to do with the funds pretty soon. (Start a CD ladder?) Since I use targeted savings accounts, the cash accumulation is getting higher than i think may make sense long term. Not all house repair/future car/vacation/EF dollars need to be in immediately available cash.

Panda
Posts: 160
Joined: Mon Jan 11, 2010 9:06 am
Location: Texas
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Re: Panda's Ponderings

Postby Panda » Thu Aug 04, 2011 11:11 am

Progress:

1) Pay off GEMoney loan. - Complete!
2) Pay off car loan then continue $400/month into car fund. - Complete!
3) Max 401k/IRA. ($10063/$16500 - 61%, $2738/$5000 - 54.8%)
4) Save $6000 towards opening AssetBuilder account. - Goal on hold
5) Reach $8000 target emergency fund. ($6137/$8000 - 76.7%)

Odd month. Apparently I hit the limit of what I could comfortable move to savings, as I overdrafted my checking. I guess it's good to know.

Still saving/planning vacation next month. I'm nervous that this vacation isn't as fully funded as I'd like, and I'm going to end up borrowing from other targeted savings. Not really a problem and it's worth it to me for this particular trip, but not the habit I want in the future.

Panda
Posts: 160
Joined: Mon Jan 11, 2010 9:06 am
Location: Texas
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Re: Panda's Ponderings

Postby Panda » Mon Oct 03, 2011 8:33 am

Progress:

1) Pay off GEMoney loan. - Complete!
2) Pay off car loan then continue $400/month into car fund. - Complete!
3) Max 401k/IRA. ($12988/$16500 - 79%, $3573/$5000 - 71%)
4) Save $6000 towards opening AssetBuilder account. - Goal on hold
5) Reach $8000 target emergency fund. ($7142/$8000 - 89%)

Spendy month in September with our big vacation. Lots of fun - glad we went. In the end the big expenditures - airfare and apartment came out of our savings and the rest came out of cash flow. Not too bad. Will begin restocking the travel fund although we're planning on doing a smaller vacation next (somewhere in continental US).

Additionally, big bucks on my car to fix the AC. Bleh. Oh well. That's what my car savings fund is for, I guess. May need to up the amount if I actually want to cover both service and saving for next car.

Panda
Posts: 160
Joined: Mon Jan 11, 2010 9:06 am
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Re: Panda's Ponderings

Postby Panda » Mon Oct 03, 2011 12:10 pm

Feeling somewhat apathetic about money lately - all the big things are on autopilot - mortgage, escrow savings, retirement savings, etc. May not be spending my money exactly how I predicted, but definitely spending less than I make by a comfortable amount. Just can't seem to get interested in any of the little goals or saving just a little more, etc.

Meh. I'd like to re-assess my investment portfolio and make some changes there, but after that.....

geoff_tewierik
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Re: Panda's Ponderings

Postby geoff_tewierik » Mon Oct 03, 2011 4:08 pm

It gets that way when you get everything under control and ticking away. I'm in the same boat with my snowball dealing with the debt repayments, it's just a matter of changing the amount paid into each one when the previous one is paid off.

Maybe you need to set yourself some challenges?

Finding cheaper/better coverage insurances (health/contents/car).

Saving for the next holiday, so you don’t need to dip into other funds.

Panda
Posts: 160
Joined: Mon Jan 11, 2010 9:06 am
Location: Texas
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Re: Panda's Ponderings

Postby Panda » Tue Nov 01, 2011 9:07 am

Progress:

1) Pay off GEMoney loan. - Complete!
2) Pay off car loan then continue $400/month into car fund. - Complete!
3) Max 401k/IRA. ($14475/$16500 - 88%, $4000/$5000 - 80%)
4) Save $6000 towards opening AssetBuilder account. - Goal on hold
5) Reach $8000 target emergency fund. ($6154/$8000 - 77%)

Took a step back on my EF. The money will be reimbursed and I've got other savings which can be redirected, so not a concern.

Everythin else still moving.... slowly...

Panda
Posts: 160
Joined: Mon Jan 11, 2010 9:06 am
Location: Texas
Contact:

Re: Panda's Ponderings

Postby Panda » Mon Jan 02, 2012 7:30 am

Progress:

1) Pay off GEMoney loan. - Complete!
2) Pay off car loan then continue $400/month into car fund. - Complete!
3) Max 401k/IRA. ($16500/$16500 - 100%, $4627/$5000 - 93%, will complete by end of Jan)
4) Save $6000 towards opening AssetBuilder account. - Goal on hold
5) Reach $8000 target emergency fund. ($6655/$8000 - 83%)

2011 Increase in Net Worth - $54.5K
2011 Increase in Cash Reserves - $7813

So I didn't quite make every goal, but still a pretty good year overall.

CecilyC
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Re: Panda's Ponderings

Postby CecilyC » Mon Jan 02, 2012 6:55 pm

I'll say! Way to go! :D :rofl:

Panda
Posts: 160
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Re: Panda's Ponderings

Postby Panda » Fri Jan 20, 2012 11:56 am

So I've been working with the 2012 plan/budget. My goals will look a little different this year, as I'll be backing off of retirement savings for the first time in 13 years and instead.... saving for the baby we'll have in July!! :clap:

So, while these might change a little still, the general goals are:

1) 401K up to employer match - $7140
2) Max IRA - $5000
3) Emergency fund - Reach $10,000
4) Baby fund - $10,000

Sonja
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Re: Panda's Ponderings

Postby Sonja » Mon Jan 23, 2012 4:15 am

Congrats! :)

good choice to save for that rather than retirement.

fantasma
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Re: Panda's Ponderings

Postby fantasma » Mon Jan 23, 2012 7:08 am

Panda wrote:So I've been working with the 2012 plan/budget. My goals will look a little different this year, as I'll be backing off of retirement savings for the first time in 13 years and instead.... saving for the baby we'll have in July!! :clap:

So, while these might change a little still, the general goals are:

1) 401K up to employer match - $7140
2) Max IRA - $5000
3) Emergency fund - Reach $10,000
4) Baby fund - $10,000


CONGRATS! :rock: :clap:
Be what you want to attract.

Panda
Posts: 160
Joined: Mon Jan 11, 2010 9:06 am
Location: Texas
Contact:

Re: Panda's Ponderings

Postby Panda » Mon Jan 23, 2012 8:04 am

Thanks!!!

We're super excited, although a little anxious as well. I have faith we'll get enough figured out to manage though. After all, we finally put the Christmas tree away this week, so there's progress! :oops:

Reworking the budget some, trying to find a balance between cutting back on several things so that we can save money and still being sure to enjoy some entertainment, nice dining etc, since life will change when the baby gets here. Not that I believe that we'll never have fun again or eat again, but it will definitely be different.

peachy
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Re: Panda's Ponderings

Postby peachy » Tue Jan 24, 2012 5:12 pm

Congratulations!! That is exciting news. :)

Panda
Posts: 160
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Re: Panda's Ponderings

Postby Panda » Wed Feb 01, 2012 11:24 am

Thanks everyone! It is exciting... and a little scary, but I figure that's how life (and parenthood) is.

So January has been a bit of a challenging month. Not so much because of holiday credit card bills or anything like that, but due to detangling myself from a struggling opera company that I was a Director for. Ultimately, I had to pony up some personal cash to settle the company debts, which has made January cash flow awkward.

1) 401K up to employer match - $1041/$7140 (14.6%)
2) Max IRA - $255/$5000 (5.1%)
3) Emergency fund - $7060/$10,000 (70.6%)
4) Baby fund - $800/$10,000 (8%)

Panda
Posts: 160
Joined: Mon Jan 11, 2010 9:06 am
Location: Texas
Contact:

Re: Panda's Ponderings

Postby Panda » Thu Mar 01, 2012 9:38 am

Update:
1) 401K up to employer match - $1636/$7140 (22.9%)
2) Max IRA - $675/$5000 (13.5%)
3) Emergency fund - $7365/$10,000 (73.7%)
4) Baby fund - $1601/$10,000 (16%)

I love watching that baby fund grow! (Although probably not as fast as the baby, unfortunately.) Plan is to funnel both mine and my partner's tax refunds into it, so that will be coming soon-ish and is a significant part of the plan to reach goal before the baby.

Still looking to balance cutting costs/saving money with enjoying our pre-baby time. (Not that I expect to not enjoy post-baby time, but it will definitely be different.) I don't want the decision to back off from retirement savings to extend past this year, so want to set us up for 2013 to be able to both max my 401k AND pay for daycare. Hopefully partner will have an income then which will help.


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