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 Post subject: Re: New start in a new country
PostPosted: Mon Nov 29, 2010 7:28 am 

Joined: Tue Jan 26, 2010 10:08 am
Posts: 113
To quote Dave Ramsey, I'M DEBT FREEEEEEEEEEEEEEEEEEEEE!!!*

Since January 2009, I've eliminated the following debts:
- $11,240.87 (Credit cards)
- $599 (Student loan)
- $13,422.74 (Vehicles)
- $20,257.40 (Home Equity Line of Credit)
- $3,178.01 (Mortgage principal reduction)
Total Debt: $48,689.02

I've also added over £6,000 to savings, not including the various sinking funds I have in the US.

Not bad, for roughly 21 months worth of work. :)

*Except my mortgage, which DR doesn't seem to count, but I do. I'm planning to sell the house in another 18 months or so, and then I'll really be debt free. :D


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 Post subject: Re: New start in a new country
PostPosted: Mon Nov 29, 2010 7:31 am 

Joined: Tue Jan 26, 2010 10:08 am
Posts: 113
- Since my last post creating goals, I've left contracting to take a permanent position. Lower monthly income, but better job security. :)
- As a result, my goals are changing a bit. With luck, I should get these done by April 2011, and then I can work on the true "automate and forget" financial system.

Goals:
1. Pay off HELOC $7,874.79
$7,874.79 (100%)

2. 2010 Cash ISA £5,100 (Deadline: April 5, 2011)
£5,100 (100%)

3. 2011 Property Taxes $3,000
$0 (0%)

4. 2011 Home Insurance $1,000
$0 (0%)

5. Home Maintenance Fund $6,800 (Goal: $8,000 Total)
$0 (0%)

Total: $18,674.79 + £5,100
$7,874.79 + £5,100 (54%)


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 Post subject: Re: New start in a new country
PostPosted: Thu Dec 02, 2010 3:12 am 

Joined: Tue Jan 26, 2010 10:08 am
Posts: 113
- I am officially down to just one debt…my mortgage. :D My tenant brings in enough to cover that payment each month, which means I just need to worry about saving extra for property taxes/insurance/maintenance/emergencies.
- I have 3 months of base salary (not including extra that goes to savings) in the bank, which is a great feeling. :) Need to work on getting it to 6 months.

Code:
-----------------------------------------------------------
ASSETS [$248,769.53 + £7,714.51] Net Change: +784.35
-----------------------------------------------------------
US Checking $1,094.86 (- $249.86)
US Savings $6,200.92 (+ $0.00)
US IRAs $25,973.75 (+ $215.89)
UK Checking £1,498.15 (+ £380.05)
UK Savings £6,216.36 (+ £438.29)
House $215,500.00


LIABILITIES [$172,237.66] Net Change: -8,339.45
-----------------------------------------------------------
Mortgage $172,237.66 [4.99% 30yr fixed]
Home Equity LOC $0.00 [4% variable]

NET WORTH:
$76,531.87 + £7,714.51 (+9,123.80)

Goals:
1. Pay off HELOC $7,874.79
$7,874.79 (100%)

2. 2010 Cash ISA £5,100 (Deadline: April 5, 2011)
£5,100 (100%)

3. 2011 Property Taxes $3,000
$307.13 (10%)

4. 2011 Home Insurance $1,000
$0 (0%)

5. Home Maintenance Fund $6,800 (Goal: $8,000 Total)
$0 (0%)

Total: $18,674.79 + £5,100
$8,181.92 + £5,100 (55%)


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 Post subject: Re: New start in a new country
PostPosted: Thu Jan 06, 2011 6:38 am 

Joined: Tue Jan 26, 2010 10:08 am
Posts: 113
- So…another new job. Back to contracting, but on a long-term basis, which should be the best of both worlds: better pay and no job-hopping hassle.
- 2010 has wrapped up nicely, paid all my property taxes and such, so now I just need to figure out filing taxes in two countries.
- As part of the 2010 wrap-up, finally transferred my old 401(k) into my Roth IRA, hence the bump there.
- 2011 goals include saving for retirement again, and funding money for travel. (I've lived in the UK almost a year and have yet to travel to Europe! Shameful.)
- I'm moving this weekend, which will involve some expenses. Rent will be almost £100 lower than what I've been paying, though, so that should work out well.

Code:
-----------------------------------------------------------
ASSETS [$253,226.73 + £7,401.37] Net Change: +4,144.06
-----------------------------------------------------------
US Checking $1,075.20 (- $19.66)
US Savings $4,710.24 (- $1,490.68)
US IRAs $31,941.29 (+ $5,967.54)
UK Checking £1,390.80 (- £107.35)
UK Savings £6,010.57 (- £205.79)
House $215,500.00


LIABILITIES [$172,003.88] Net Change: -233.78
-----------------------------------------------------------
Mortgage $172,003.88 [4.99% 30yr fixed]
Home Equity LOC $0.00 [4% variable]

NET WORTH:
$81,222.85 + £7,401.37 (+4,377.84)

Goals:
1. Pay off HELOC $7,874.79
$7,874.79 (100%)

2. 2010 Cash ISA £5,100 (Deadline: April 5, 2011)
£5,100 (100%)

3. 2011 Property Taxes $3,000
$1,832.72 (61%)

4. 2011 Home Insurance $1,000
$0 (0%)

5. Home Maintenance Fund $6,800 (Goal: $8,000 Total)
$0 (0%)

Total: $18,674.79 + £5,100
$9,707.51 + £5,100 (62%)


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 Post subject: Re: New start in a new country
PostPosted: Wed Feb 02, 2011 6:08 am 

Joined: Tue Jan 26, 2010 10:08 am
Posts: 113
- Still waiting on my first paycheck for the new job. Should be about 4-6 weeks' worth (depending on when they process it), so that will beef savings up quite a bit.
- Also need to finish researching the Roth IRA option. Savings are on hold (sitting in my bank account) until I figure out the best way to allocate them.
- New roommate isn't working out too well, so I'm hunting for a new place to live. It's not unbearable, though, so I'll be pretty picky (don't mind paying a bit more than now, but don't want to pay too much).
- Mortgage dropped into another thousands bracket. :) Always exciting.

Code:
-----------------------------------------------------------
ASSETS [$254,528.01 + £7,620.01] Net Change: +1,519.92
-----------------------------------------------------------
US Checking $1,162.46 (+ $87.26)
US Savings $5,181.62 (+ $471.38)
US IRAs $32,683.93 (+ $732.64)
UK Checking £1,390.80 (- £0.00)
UK Savings £6,229.21 (+ £218.64)
House $215,500.00


LIABILITIES [$171,769.13] Net Change: -234.75
-----------------------------------------------------------
Mortgage $171,769.13 [4.99% 30yr fixed]
Home Equity LOC $0.00 [4% variable]

NET WORTH:
$82,758.88 + £7,620.01 (+1,754.67)

Goals:
1. Pay off HELOC $7,874.79
$7,874.79 (100%)

2. 2010 Cash ISA £5,100 (Deadline: April 5, 2011)
£5,100 (100%)

3. 2011 Property Taxes $3,000
$1,966.71 (65%)

4. 2011 Home Insurance $1,000
$500 (50%)

5. Home Maintenance Fund $6,800 (Goal: $8,000 Total)
$0 (0%)

Total: $18,674.79 + £5,100
$10,341.50 + £5,100 (64%)


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 Post subject: Re: New start in a new country
PostPosted: Wed Feb 02, 2011 7:47 am 

Joined: Mon Jan 11, 2010 9:06 am
Posts: 160
Location: Texas
peaceofmind wrote:
- 2011 goals include saving for retirement again, and funding money for travel. (I've lived in the UK almost a year and have yet to travel to Europe! Shameful.)


For shame! All kidding aside, don't pass up this opportunity. I lived in the UK for only 3 months and did get in a little bit of travel.

I'm still on some "hot deals" mailing lists and get to ponder on a routine basis about how much cheaper seeing the world would be if I were already on the other side of the ocean. Take advantage of it!!!


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 Post subject: Re: New start in a new country
PostPosted: Wed Feb 02, 2011 10:27 am 

Joined: Tue Jan 26, 2010 10:08 am
Posts: 113
It's ridiculous how cheaply you can get away for a weekend.

Main impediments so far have been debt elimination (done, woo!), workaholic tendencies (working on that ;)), and needing someone to watch my dog (still need to work that one out). I'm heading back to the US for 2 weeks next week, but come March/April, I want to start a monthly 2 or 3-day weekend (if not longer) someplace new. :)


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 Post subject: Re: New start in a new country
PostPosted: Tue Mar 08, 2011 9:40 am 

Joined: Tue Jan 26, 2010 10:08 am
Posts: 113
- Got paid for the first two months of work, still need to investigate tax implications before moving money around.
- Still flat hunting (boo). Really hating my flatmate, too, but it's a nightmare finding a place to rent with pets.
- Had a good visit back to the US. :) Now I need to stop being lazy/cheap and book a mini-vacation somewhere in Europe.

Code:
-----------------------------------------------------------
ASSETS [$255,329.42 + £8,194.21] Net Change: +1,375.61
-----------------------------------------------------------
US Checking $1,340.45 (+ $177.99)
US Savings $5,353.41 (+ $171.79)
US IRAs $33,135.56 (+ $451.63)
UK Checking £1,965.00 (+ £574.20)
UK Savings £6,229.21 (+ £0.00)
House $215,500.00


LIABILITIES [$171,475.40] Net Change: -293.73
-----------------------------------------------------------
Mortgage $171,475.40 [4.99% 30yr fixed]
Home Equity LOC $0.00 [4% variable]

NET WORTH:
$83,851.02 + £8,194.21 (+1,669.34)

Goals:
1. Pay off HELOC $7,874.79
$7,874.79 (100%)

2. 2010 Cash ISA £5,100 (Deadline: April 5, 2011)
£5,100.00 (100%)

3. 2011 Property Taxes $3,000
$2,188.84 (72%)

4. 2011 Home Insurance $1,000
$500.00 (50%)

5. Home Maintenance Fund $6,800 (Goal: $8,000 Total)
$0 (0%)

Total: $18,674.79 + £5,100
$10,563.63 + £5,100 (65%)


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 Post subject: Re: New start in a new country
PostPosted: Tue May 03, 2011 4:47 am 

Joined: Tue Jan 26, 2010 10:08 am
Posts: 113
-Have found a new flat and moved in. :)
-Still need to get on the ball about booking travel to places.
-Filled up my 2010 and 2011 Cash ISAs for the UK (roughly equivalent to a Roth IRA) - by getting the 2011 part done now I locked in a higher interest rate.
-Almost out of the 170s for my mortgage balance! :)

Code:
-----------------------------------------------------------
ASSETS [$257,220.17 + £14,708.45] Net Change: +8,404.99
-----------------------------------------------------------
US Checking $1,631.13 (+ $378.58)
US Savings $5,759.23 (+ $62.61)
US IRAs $34,329.81 (+ $1,194.25)
UK Checking £3,039.57 (+ £1,074.57)
UK Savings £1,288.88 (- £4,940.33)
UK ISAs £10,440.00 (+ £10,440.00)
House $215,500.00


LIABILITIES [$170,942.28] Net Change: -533.12
-----------------------------------------------------------
Mortgage $170,942.28 [4.99% 30yr fixed]
Home Equity LOC $0.00 [4% variable]

NET WORTH:
$86,227.89 + £14,708.45 (+8,938.11)

Goals:
1. Pay off HELOC $7,874.79
$7,874.79 (100%)

2. 2010 Cash ISA £5,100 (Deadline: April 5, 2011)
£5,100.00 (100%)

3. 2011 Property Taxes $3,000
$2,542.54 (84%)

4. 2011 Home Insurance $1,000
$500.00 (50%)

5. Home Maintenance Fund $6,800 (Goal: $8,000 Total)
$0 (0%)

6. 2011 Cash ISA £5,340.00
£5,340.00 (100%)

Total: $18,674.79 + £10,440
$10,647.33 + £10,440 (72%)


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 Post subject: Re: New start in a new country
PostPosted: Thu Jun 02, 2011 9:49 am 

Joined: Tue Jan 26, 2010 10:08 am
Posts: 113
-Finally got on the ball and as of this month, will be contributing ~20% of my pay into a pension. The scheme only allows contributions of a set amount, rather than a percentage, so I may add to it at the end of the year, or adjust accordingly.
-My contract should get extended through April 2012, possibly April 2013. Either way, job security shouldn't be an issue for a while (fingers crossed).
-Will have a flatmate paying rent as of July 1. :)
-Some irregular expenses this month, but left all savings untouched.

Code:
-----------------------------------------------------------
ASSETS [$258,300.95 + £14,652.06] Net Change: +1,024.39
-----------------------------------------------------------
US Checking $1,679.02 (+ $47.89)
US Savings $7,262.37 (+ $1,503.14)
US IRAs $33,859.56 (- $470.25)
UK Checking £2,618.59 (- £420.98)
UK Savings £1,554.39 (+ £265.51)
UK ISAs £10,479.08 (+ £39.08)
House $215,500.00


LIABILITIES [$170,703.11] Net Change: -239.17
-----------------------------------------------------------
Mortgage $170,703.11 [4.99% 30yr fixed]
Home Equity LOC $0.00 [4% variable]

NET WORTH:
$87,597.84 + £14,652.06 (+1,426.34)

Goals:
1. Pay off HELOC $7,874.79
$7,874.79 (100%)

2. 2010 Cash ISA £5,100
£5,100.00 (100%)

3. 2011 Property Taxes $3,000
$3,000.00 (100%)

4. 2011 Home Insurance $1,000
$1,000.00 (100%)

5. Home Maintenance Fund $6,800 (Goal: $8,000 Total)
$561.45 (8%)

6. 2011 Cash ISA £5,340.00
£5,340.00 (100%)

Total: $18,674.79 + £10,440
$12,436.24 + £10,440 (78%)


Last edited by peaceofmind on Fri Jun 10, 2011 2:23 am, edited 1 time in total.

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 Post subject: Re: New start in a new country
PostPosted: Wed Jun 08, 2011 1:32 am 
User avatar

Joined: Wed Jun 08, 2011 1:17 am
Posts: 3
Location: Los Angeles, CA
Good luck to all your plans.


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 Post subject: Re: New start in a new country
PostPosted: Sat Jul 09, 2011 8:12 am 

Joined: Tue Jan 26, 2010 10:08 am
Posts: 113
-Work is a bit crazy, but we also have the chance to get paid for overtime (1.5x), so that's cool. Will likely only last a month until we release, but it'll be nice while it lasts.
-Booked airline tickets back to the US for Thanksgiving. May look into a Europe-based long weekend for September/October once our product at work is released.
-Paid my accountant for my 2010 taxes, so at least that's done. I owe NC $10 and will get $17 back from the government. So after the cost to mail stuff over, I should only have spent about $5 to file taxes. ;)

Code:
-----------------------------------------------------------
ASSETS [$259,886.70 + £14,237.73] Net Change: +1,171.42
-----------------------------------------------------------
US Checking $1,741.18 (+ $62.16)
US Savings $9,301.61 (+ $2,039.24)
US IRAs $33,343.91 (- $515.65)
UK Checking £1,326.06 (- £1,292.53)
UK Savings £2,405.03 (+ £850.64)
UK ISAs £10,506.64 (+ £27.56)
House $215,500.00


LIABILITIES [$170,462.95] Net Change: -240.16
-----------------------------------------------------------
Mortgage $170,462.95 [4.99% 30yr fixed]
Home Equity LOC $0.00 [4% variable]

NET WORTH:
$89,423.75 + £14,237.73 (+1,411.58)

Goals:
1. Pay off HELOC $7,874.79
$7,874.79 (100%)

2. 2010 Cash ISA £5,100
£5,100.00 (100%)

3. 2011 Property Taxes $3,000
$3,000.00 (100%)

4. 2011 Home Insurance $1,000
$1,000.00 (100%)

5. Home Maintenance Fund $6,800 (Goal: $8,000 Total)
$3,800.69 (47%)

6. 2011 Cash ISA £5,340.00
£5,340.00 (100%)

Total: $18,674.79 + £10,440
$15,675.48 + £10,440 (89%)


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 Post subject: Re: New start in a new country
PostPosted: Mon Aug 08, 2011 9:10 am 

Joined: Tue Jan 26, 2010 10:08 am
Posts: 113
-Work is still stressful, but overtime is gone (for now). Managed to get 2 days in, so at least that's extra income for this month.
-Booked a weekend away in Vienna in September. Thanks to work stress, I could really use a break.
-Paid a large chunk into my pension, but most of it went to up-front admin/management fees. :x Should see the rest of my deposits look a lot better in the future, though.
-US savings into the 5-digit range. :) Hope to have it around $15,000 between checking/savings by the end of the year.

Code:
ASSETS [$261,034.34 + £15,520.97] Net Change: +2,430.88
-----------------------------------------------------------
US Checking $1,713.91 (- $27.27)
US Savings $11,037.57 (+ $1,735.96)
US IRAs $32,782.86 (- $561.05)
UK Checking £1,725.48 (+ £399.42)
UK Savings £2,830.83 (+ £425.80)
UK ISAs £10,535.19 (+ £28.55)
UK Pension £429.47 (+ £429.47)
House $215,500.00


LIABILITIES [$170,221.79] Net Change: -241.16
-----------------------------------------------------------
Mortgage $170,221.79 [4.99% 30yr fixed]
Home Equity LOC $0.00 [4% variable]

NET WORTH:
$90,812.55 + £15,520.97 (+2,672.04)

Goals:
1. Pay off HELOC $7,874.79
$7,874.79 (100%)

2. 2010 Cash ISA £5,100
£5,100.00 (100%)

3. 2011 Property Taxes $3,000
$3,000.00 (100%)

4. 2011 Home Insurance $1,000
$1,000.00 (100%)

5. Home Maintenance Fund $8,000
$5,536.65 (69%)

6. 2011 Cash ISA £5,340.00
£5,340.00 (100%)

Total: $19,874.79 + £10,440
$17,411.44 + £10,440 (91%)


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 Post subject: Re: New start in a new country
PostPosted: Wed Sep 14, 2011 4:06 am 

Joined: Tue Jan 26, 2010 10:08 am
Posts: 113
-Work has gotten completely insane. This ended in a nice result for me financially, though, as I threatened to leave and now they're giving me a bonus if I stay 6 more weeks. So, should have some extra money in October!
-Did get away to Vienna this past weekend, which was awesome. :D Already planning another trip (Italy, maybe? Spain?) for next Feb/Mar.
-Mortgage has dropped below $170k! :D
-IRA value dropped like a stone - ouch!
-On the plus side, pension contributions went through, so that balance is up. :)
-Finished my last savings goal! Time for some new ones.

Code:
ASSETS [$261,141.19 + £17,770.07] Net Change: +2,355.95
-----------------------------------------------------------
US Checking $1,706.09 (- $7.82)
US Savings $13,359.17 (+ $2,321.60)
US IRAs $30,575.93 (- $2,206.93)
UK Checking £1,186.17 (- £539.31)
UK Savings £3,256.70 (+ £425.87)
UK ISAs £10,563.82 (+ £28.63)
UK Pension £2,763.38 (+ £2,333.91)
House $215,500.00


LIABILITIES [$169,979.63] Net Change: -242.16
-----------------------------------------------------------
Mortgage $169,979.63 [4.99% 30yr fixed]
Home Equity LOC $0.00 [4% variable]

NET WORTH:
$91,161.56 + £17,770.07 (+2,598.11)

Goals:
1. Pay off HELOC $7,874.79
$7,874.79 (100%)

2. 2010 Cash ISA £5,100
£5,100.00 (100%)

3. 2011 Property Taxes $3,000
$3,000.00 (100%)

4. 2011 Home Insurance $1,000
$1,000.00 (100%)

5. Home Maintenance Fund $8,000
$8,000.00 (100%)

6. 2011 Cash ISA £5,340.00
£5,340.00 (100%)

Total: $19,874.79 + £10,440
$19,874.79 + £10,440 (100%)


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 Post subject: Re: New start in a new country
PostPosted: Wed Sep 14, 2011 7:41 am 

Joined: Tue Jan 26, 2010 10:08 am
Posts: 113
So, new goals already. :D I haven't given myself a reward for completing goals since I bought my Kindle for my last birthday - I think I'll buy myself a nicer computer hard drive for this birthday since I finished goals early. :)

- Would like to save up next year's ISA amount ASAP so that I can deposit it immediately in the 2012 tax year and get interest tax-free all year long. The limit is supposed to rise with inflation, but next year's numbers haven't been announced yet. Last year was £5,340 so I've added some padding.
- Hope not to need it all, as I plan to sell my house, but will save up annual insurance/property tax amounts as usual for 2012. Anything leftover will likely be consumed by closing costs anyway.
- Would love to get a year's worth of income (2k/mo expenses, 1.2k/mo pension) so that I can take time off to work on side projects, travel, etc. Not sure how long this will take me.

Goals:
1. 2012 Cash ISA £5,500 (?)
£0.00 (0%)

2. 2012 Property Taxes $3,000
$0.00 (0%)

3. 2012 Home Insurance $1,000
$0.00 (0%)

4. Year-Off Fund £38,500
£8,500 (22%) - Need to finalise this amount, my business savings account includes money for taxes and whatnot, and I'm probably underestimating how much I have available for my own use.

Total: $4,000 + £44,000
$0.00 + £8,500 (17%)


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