How was your 2006 financially speaking?

[naturalwoman]

oh yeah my stocks made money and split.

[Ima saver]

I am ready for 2007!!!

[k-man]

Been lurking here awhile....heard about this board from folks over at the Disney Budget board. Nice board....I love everyone's philosphy here and we live our lives the same way.

We had a really good year and achieved all of our financial goals and then some. I haven't taken the time yet like Steve has to calculate the overall percentage that we're up, but our worst fund did 14% for the year and our best fund did 33%.

We both maxed out our 401Ks and I was able to invest 20% of the profit from my two small companies into my solo-401K as well. In addition to that we invested another large chunk of change into taxable accounts (we don't qualify for a Roth unfortunately or fortunately depending on how you look at it). A lot of that came strictly from savings and the rest came from some "earn out" from a start-up my DH sold with his partners in 2005.

We also took 15K and invested in a CD along with some additional money we had put away for a future car fund. Our one SUV is ten years old and while we plan to drive it until it dies, we like to be prepared for the inevitable.

We still have our 1 year of expenses in an emergency fund (our expenses are pretty low though so it's not as much as you might think). We keep that much because my DH works in the software industry and worked for several companies in the past ten years.

As for 2007......

We are definitely frugal and track really every penny we spend. Really that's me...I'm a little anal with that, but it is what we have always done, and so that's how we'll continue. We'll sit down soon and map out our budget for the year and set our savings/spending goals. We'll definitely continue with our monthly contribution to the "travel fund" as we have a trip to Italy planned for October.

We have no debt, and no intention of ever getting any.

I hope everyone has a very successful 2007!

[disneysteve]

Originally Posted by k-man

Been lurking here awhile....heard about this board from folks over at the Disney Budget board. Nice board....I love everyone's philosphy here and we live our lives the same way.

Welcome k-man! I suspect I'm one of those Disboard people from whom you heard about this site
Glad to have you here.

[christy38401]

Well, 2006 was horrible for me but 2007 will be so much better. I have finally made a commitment to follow a plan and not let my money control me.

Christy

[wannabefree]

2006 has been excellent for me. My income has increased about 25%. I have managed to pay down significant amount of debt and the increased cash flow seems so nice. Plus I just found out about another 3% raise for next year. With my cash flow so much improved I should be able to pay off all debt (except house at 5.625%) by March & save about $3000-3500 per month for this next year. I am really optimistic about my own future

[dvcgirl]

Originally Posted by disneysteve

Welcome k-man! I suspect I'm one of those Disboard people from whom you heard about this site
Glad to have you here.

lol....it was actually me Steve....dvcgirl. My husband had been reading these boards on my laptop (he's k-man), and I thought I was logged in as dvcgirl (I just registered yesterday). Anyhoo, that last post from k-man was actually me. The other 10 or so are my DH's....man that's confusing.

Anyway, k-man and dvcgirl had a nice 2007

[LuxLiving]

Great! But could be better!

Got FIL house empty and ready to sell, painted, roof repaired, carpeted and listed w/RE agent. Not so good in that much of this has cost us money that is still out - house has yet to sell. Estate has yet to settle and keeps having to borrow from us to keep the utilities on (cold weather winters).

Upped The Hubster's 401-K contributions to 10%. Currently 80% vested (he's worked at the same place 40 years come January 2nd, but a buyout a couple of years ago set him back to zero on this vesting point).

Have automatic deductions set up for his/her Roth IRA's. Not maxed this year. We had some big house remodel expenses on our home that were near necessities AND trying to keep lots of cash available until the estate settles - all of which kept the IRA's from being maxed this year.

The Traditional Rollover IRA from the above said buyout (profit-sharing plan monies) is up 16.45% for the year. And we are getting ready to reallocate some of it into one of those Targeted Date funds. Set up the Fidelity Income Management Account during November which I'm really looking forward to watching it purr along come 2007.

First meeting with financial planner tells me that we are doing all the right things to get ourselves ready for retirement in 6 years. An A++ from the CFP certainly was a high spot for the year.

Best for me was these last two points: 1)that we stayed on budget all year with only slight variations from our monthly target goals - all of which adjustments were able to be made by underspending in other categories - so each month the budget balanced!!! A big thanks goes to Jesse Mecham at youneedabudget.com for his zero balance budgeting software which made this doable by being able to see it all at a glance. I was rather anal about this as I didn't want to see any of my categories off target and having to be shorted on the next month!

In reality w/just one of us working our margins are so small that any variation from the plan caused a nasty ripple effect and the software makes it visible! In mid-2006 a $75.00 charge on the CC that was forgotten to be entered into the checkbook whould have made a nasty lil' dent in the next month's spending and had to reach }}}}}}shudder{{{{{{ into the carefully hoarded EF to make it work - so that it became an incentive to make sure it didn't happen again!

2) Continued to use our credit cards as aids only and not a crutch. Anything that was charged was fully paid off on every single billing cycle!

Bad points: I have had the cash crunch come out of my wallet - if money was tight it was MY spending and the grocery budget was often too TOO tight this past year. Christmas was also rather scimpy for my tastes. Need to up those three areas in the budget. Hopefully the year 2007 will see a little loosening in those areas as some of our biggest expenditures are now out of the way (house painting, house windows and the already saved for doors that are coming in the next little while).

On the horizons for a targeted savings goal is putting in new carpet at perhaps the end of 2007/beginning of 2008. We think we may downsize in a few years, but I refuse to fix my house up at the last minute to sell for someone else to enjoy all the new goodies. We're doing stuff now - enjoying it and hoping that it will enhance the sellability of our house in the future.

2007? Bring it on!!!

[kv968]

2006 was a real turn around for me. I started the year out in the ICU unit of a local trauma center and ended up back at work doing more about my financial situation than I ever had.

I was out of work on a medical leave for 6 months, returned in March and have been plugging along ever since. I raised my 401k by a few percentage points (always has been at least enough for the match ), started a Roth IRA, received many accolades and an award at work (resulting in some bonuses) but more importantly finally took more control of my investments. In doing so the 401k was up 17.9% for the year. I can't take all of the credit for that since the market itself was going gangbusters, but making some changes certainly helped.

Oh yeah, and I found this website which has a been wonderful All in all not a bad, but turbulent, 2006.

Come on 07

[disneysteve]

Originally Posted by kv968

In doing so the 401k was up 17.9% for the year. I can't take all of the credit for that since the market itself was going gangbusters, but making some changes certainly helped.

You should take credit for that. If you had your 401k tied up in company stock or money market accounts, like a lot of people, you wouldn't have seen that kind of return. By taking control, you made that happen. Congrats.

[kv968]

Originally Posted by disneysteve

You should take credit for that. If you had your 401k tied up in company stock or money market accounts, like a lot of people, you wouldn't have seen that kind of return. By taking control, you made that happen. Congrats.

Thank you. Not much MMA on my part since I run pretty aggresive, but WAY TOO MUCH in company stock. The stock itself did good but not as good as the diversification provided. I'm still trying to get the co-workers to listen

I just realized that this will be my 100th post! I haven't been here too long. I must be dispensing too much "advice"

[disneysteve]

Originally Posted by kv968

I just realized that this will be my 100th post! I haven't been here too long. I must be dispensing too much "advice"

Don't feel bad. I've racked up over 1,100 since June.

Where in NJ are you? I'm in Cherry Hill.

[kv968]

I'm up here in the suburban sprawl known as Hamilton Township.

[StressLess]

I really can't complain at all. Income up, credit card debt paid off, and we seem to have reached a happy medium on spending. I'm pretty content with what we seem able to afford-- for example, the way we've been eating, and using Netflix vs. cable. My only frustration continues to be the amount we are spending on car repairs.

We do have investments in DH's 401K and my IRA, but to be honest I haven't even tried to figure out our return. All I know is they are up, and we saved on taxes by putting the money there in the first place. I guess I ought to start paying more attention.

[kv968]

Originally Posted by StressLess

I really can't complain at all. Income up, credit card debt paid off, and we seem to have reached a happy medium on spending. I'm pretty content with what we seem able to afford-- for example, the way we've been eating, and using Netflix vs. cable. My only frustration continues to be the amount we are spending on car repairs.

We do have investments in DH's 401K and my IRA, but to be honest I haven't even tried to figure out our return. All I know is they are up, and we saved on taxes by putting the money there in the first place. I guess I ought to start paying more attention.

It'd benefit you to keep track of what your returns are. You don't have to be obsessive about it but just check in everynow and then to see how they're doing as compared to their benchmark. Around now would be a good time to take a look because you can year-end results.

[savvy06]

I'm happy with 2006. Still zero debt, and our savings have acumulated a lot since we payed off our home 2.5 yrs ago. We probably could've saved more in 2006 if we didn't go to Europe or other vacations, but we love to travel so was all worth it.

[The Budget Man]

Well 2006 was a year we'll never forget as a family.

The expenses of expanding the business were huge. 20 years ago I would have been horrified at the outgoings for updating the Personality Budgeting Program and expanding the web site.

Well now we're successful helping people in over 42 different countries with thousands of visitors taking the Personality Budgeting Quiz.

It's all worth while when you get emails like the one recently from Zimbabwae....

"I've got it! I finally understand what budgeting is all about. Thanks so much for your weekly emails. I've just been reading week 3 and it's all fallen into place." (Name supplied)

2007 looks like it will be another hold on and fly year so I'll be looking forward to seeing what it will bring. My hope is that we will hit the 10000th quiz.

Enjoy Your Money
The Budget Man

www.PersonalityBudgeting.com
The starting point for a budget that works!

[autoxer]

It was a great year for me. I changed some of my spending habits eliminating a lot of waste. I sold my car, downgrading to a really cheap one, so that I could eliminate all debt & start saving profusely for a house downpayment.

I'M NOW COMPLETELY DEBT FREE! and it feels good.

[tinapbeana]

2006 was good. not as good as it could have been, of course, but not as bad, either!

* downsized from a decent paying job i enjoyed
* bought first house
* found a better paying job i also enjoy. downside: no 401k
* tree limb fell on current car
* paid $2600 cash to have 140 yr old oak tree removed (sniff! it had been hit by lightening, had to go, see last point re: tree limb). at least it wasn't on credit: talk about nothing to show for it!
* bought a car (first time i've ever financed a car, have always bought well used for a grand or so)
* cash only Christmas

like i said: ok, but could be better! looking forward to 07!

[LuxLiving]

Autoxer said:
"I'M NOW COMPLETELY DEBT FREE! and it feels good. "




HEY YOU - I hadn't realized that you'd gotten there! CONGRATULATIONS TO YOU!!!



WAY TO GO!!!!