$3516.95 Balance Forward
+___1.30 CU #1
$3520.83 New Balance
Viewing the 'Savings' Category
$3516.95 Balance Forward
$310.15 Starting Balance
+_46.50 Coins and Ones
$356.65 New Balance
I wasn't sure I was going to make it over to the credit union to get this deposited today, but I did. I don't know how much longer I'll be able to keep adding to this or any savings.
$269.82 Starting Balance
+_40.33 Interest Added
$310.15 New Balance
$44,500.00 Starting Balance
+__,500.00 Amount Added
$45,000.00 New Balance
$19,807.97 Starting Balance
+__,_62.65 Refund Check from the ENT doctor
$19.870.62 New Balance
$129.38 to go to hit my milestone goal. I should hit $20K next Friday.
$19,715.97 Starting Balance
+__,_92.00 Amount Added
$19,807.97 New Balance
$192.03 left to go to hit my milestone goal of $20K. I will hit that this month. I am excited.
Between the Emergency Fund and the Down Payment Fund we have $64,523.97 in savings. I've never had so much savings in my life (not counting 401K). It is a good feeling, especially considering where we started.
Another deadline for the contract announcement has come and gone. It's very frustrating. But we could live on our savings if we have to, which is very comforting, even if I would hate to see it go.
$17,591.92 Starting Balance
+_2,000.00 Overtime Money Deposited
$19,591.92 New Balance
$408.08 left to hit my milestone goal of $20K. I don't know if I will hit it before I have to give my mother the $10K lump sum. It would be nice if I could just for the sake of doing it. But if not I'll have the new goal of getting it to $10K.
I ran the numbers and in order for me to hit my goal of $20,000 in the Emergency Fund by the end of 2016 I need to come up with $1672.68 total beyond the $150 per month that I deposit normally now. That is $209.08 a month extra I'd need to be saving, or a total of $359.08 a month.
With the interest I earn on my savings accounts of $35 or so a month, I can bring the $209.08 down to $174.08 extra each month to scrape up. I'm not sure if that is going to be doable. It would have been before the pay cut, but I don't know otherwise.
If I drop my goal for the year down to $19,000 I would only have to find an additional $84.08 a month, minus the $35 for interest each month, so $49.08. I usually manage to scrape an extra $50 or so together each month between farm sales, the coin jar, and any non-allocated money left at the end of each pay period. So I know I can actually hit the $19,000 goal as long as nothing unforeseen comes up.
I might be able to hit the $20K goal if I am able to sell some rabbits or rabbit meat often enough, but not just from general scrimping and saving.
I think I need to be realistic in having $19K be my goal for 2016, with $20K being more of a stretch goal that I can aim for, but not get discouraged if I can't actually hit that. If DH gets any over time, assuming his job stays stable, we can hit $20K, because then I can grab a $1000 chunk from the OT paycheck for the EF. But that is not something we can depend on.
I know he has one day of overtime coming up, but that is not anything like a full week of it. Still, that one day might help sway the balance towards hitting $20K. Or at least $19,500. I really, really, really want that $20K.
$20K means that we would have 5 months of tight living expenses or 6 months of extremely bare bones living expenses in the bank and from there it would mean we would probably have 6 months of tight living expenses by mid-2017 since part of the tax return would go into it. At which point I could head towards $30K, which would mean 6 months of comfortable living expenses or 7.5 months of tight living expenses or 10 months of bare bones living expenses.
Once I get to $24K I feel like I can start laddering six month CD's and start earning a little bit more interest than I am earning now.
All of that to say, $19K is my reasonable goal and $20K is my hopeful goal for this year.
$16,977.32 Starting Balance
+__,150.00 Monthly Deposit
$17,127.32 New Balance
So I've hit my second 2016 mini-goal of $17K. My next mini-goal is $18K. I have $872.68 to go for that. And $2,872.68 to go to hit my next milestone goal of $20K.
Last month I found that some money seemed to be missing from one of my savings accounts. I was sure I hadn't made any errors, and my paperwork supported me. I adjusted my numbers accordingly until it could get figured out.
Now that missing money is suddenly back in the account. No explanation and no one seems to know what I am talking about. So I adjusted the EF accordingly again now that it is back. So my new starting total for the EF has changed.
I have made $30 in farm sales so far this month. I sold two flats of strawberry plants for $20 and 2 dozen duck eggs for $10. Not bad. I also received a $12 check from Pinecone. All of that goes to the Emergency Fund. I am so close to $17K now I can taste it.
$16,892.30 Starting Balance
+__,_12.00 Pinecone Check
+__,_30.00 April Farm Sales
+__,_43.00 Leftover March Grocery Money
+__,___.02 CU #2 Interest Income
$16,977.32 New Balance
$22.68 to go to hit my second mini-goal of the year of $17,000.
$16,604.95 Starting Balance
+__,_35.78 C1-360 Interest
+__,__1.27 CU #1 Interest
$16,642.01 New Balance
$357.99 to go to hit my next mini-goal of $17K.
$41,000.00 Starting Balance
+__,500.00 Deposit Added
$41,500.00 New Balance
It was a little discouraging to only put $500 into savings this month for the down payment. We've been putting away $1500 most months this year, but we had a lot of medical bills with DS's surgery come through and all the medical stuff with DD. At least we have met the deductible now, so that'll ease up. Unfortunately there was a lot of stuff that was being processed all at once so some of it we got billed for anyway because it was all "in process." So we will get checks back from the doctors who end up getting paid by us and by the insurance.
Also, we won't be able to save $1500 each month going forward, either, because of the pay cut DH was forced to take. I really don't like the way the new budget looks. We will have to be very strict if we want to save $1000 per month. I am going to try to cook more from the pantry and freezers. We will have greens soon in the garden so that will help.
I think we are going to be stuck here through 2017 now. We just won't be able to save enough by the end of this year like I'd planned on before the pay cut. I know this is a lot of whining, I am just feeling frustrated and anxious. We still don't know if the company got the new contract, which means individual contracts are still up in the air. We should know soon, but even if they do get it, it does not mean the employees will get their old wages back.
Some days I really think about just moving to rural Idaho or Montana where the cost of living is so much cheaper. But I love where we live and I don't know if I would love Idaho or Montana the same way. They are both beautiful states, but they aren't home and that is a hard thing sometimes to get over.
I think I will settle down some after the contract news. Well, if it's good. If it's bad I'll freak out for a while. I hate uncertainty. It is the worst thing for me.
I received my safe driver rebate check in the mail this week and deposited it and the contents of the coin and dollar jar, which included egg sales money, into my Emergency Fund. I also missed 4 cents of interest at some point so added it here.
$16,544.52 Starting Balance
+__,_21.90 Safe Driver Rebate
+__,_60.40 Coin and Dollar Jar
$16,604.96 New Balance
I have $395.48 to go to hit my next mini-goal of $17,000.
$16,322.85 Starting Balance
+__,221.67 Deposit Added
$16,544.52 New Balance
I have passed the half-way point on my second mini-goal of 2016, which is to get the EF from $16K to $17K. $455.48 to go. I was hoping to have met that by the end of April, but with DH's paycut going into effect at the end of the month, I'm not sure I will. It might be the end of May.
One of the things I am debating is whether or not I should keep saving for the down payment or if I should just start shoveling everything into the Emergency Fund and if the contract is won at the end of June, then just transferring the money to the Down Payment Fund then.
It all goes into the same bank account. I know it is just a question of where to put it on the spread sheet, but I have told myself I will not touch the money in the DPF until we are ready to buy a house, unless it comes down to needing it to live on. I guess it is a mental thing.
Well, and then there is the mental thing of only touching the EF if there is an Emergency and not really even wanting to do it then. So if all goes well I still may have a psychological problem transferring the money to the DPF from the EF. I don't even know what that is. Maybe a little of my OCD coming through?
Maybe I need to set up a short term holding tank, from which I can easily move stuff later. I shouldn't have to play these kinds of mind games with myself to funnel money to the proper location. Anyone else go through these things or am I just sort of on my own there? I know it is rooted in the financial insecurity we had in the past, but I really thought I would have gotten over it by now having been out of consumer debt for almost a year.
$16,172.85 Starting Balance
+__,150.00 Monthly Deposit
$16322.85 New Balance
$677.15 to go to hit my next mini-goal of $17K.
I got my Costco rewards check in the mail a couple of weeks ago and my Costco AMEX rewards check in the mail last week. We made it over there today and got those cashed. The first one was $51.75 and the second one was $42.37.
I went ahead and threw the change in the coin jar, rolled up the coins and got all my bills from there as well and made a deposit to the Emergency Fund of $138.50.
I have also decided to stop making the $10 weekly deposits to the Emergency Fund. We are going to be closing that credit union account and while it was a really good tool to save in the beginning when we couldn't put much away, it seems a little redundant now.
So from now on I will do a monthly deposit of $150 instead of a monthly deposit of $100 plus 4 to 5 weekly deposits of $10 depending on how many Thursdays were in a month.
$16,002.00 Starting Balance
+____51.00 Costco Rewards
+____42.00 Costco AMEX Rewards
+____30.00 Coin Jar Cash
+____15.50 Coin Jar Coins
$16,140.50 New Balance
$859.50 to go to hit my second mini-goal of 2016 and $3,859.50 to go to hit my next milestone goal.
P.S. to Laura and PatientSaver, I bought some organic chicken pot stickers at Costco and they also had just vegetable ones. I did not see anything in the ingredients that wasn't vegetarian (it might have even been vegan, but I can't remember if it had eggs or not). Anyway it is Bibigo brand and the chicken ones are fabulous. They beat the Trader Joe's ones hands down. Thought you might like to try them if they have them in your area. They're in the freezer section.