Announcement

Collapse
No announcement yet.

My savings challenge

Collapse
X
 
  • Filter
  • Time
  • Show
Clear All
new posts

    #31
    Originally posted by paparazi257 View Post
    Welcome you to forum, I am a newbie too. I like your sharing. I am now a new officer. I have to pay alot for rented house, food, transportation. I don't know how to save money effectively
    Well then you have come to the right place instead of burying your head in the sand and pretending the money difficulties will all go away with your next raise. Lots of posts here for you to read and get some great ideas from.
    Gailete
    http://www.MoonwishesSewingandCrafts.com

    Comment


      #32
      paparazi, Welcome to SA. We all understand that creating savings after paying rent, food and transportation. With a new job it helps to write out a plan. It's difficult but if you can develop financial control and plan spending, savings to invest accumulate. Consider dividing earnings, 10% for savings, 50% for 'needs' like rent, food, phone, electric, transportation and 40 % for items you want

      Comment


        #33
        Originally posted by paparazi257 View Post
        Welcome you to forum, I am a newbie too. I like your sharing. I am now a new officer. I have to pay alot for rented house, food, transportation. I don't know how to save money effectively
        Does your job allow for retirement savings in a retirement fund? If so elect to put1% of you income into it for 3 months. Things may be a bit tight, but 1% if barely noticeable, then after 3-6 months bump the amount up to 2%. Every raise you get you should increase your saving amount by a quarter to one half the raise.

        One very simple thing you can do is take $5 every pay day and stash it away for those wants that come up. Never put 'wants' (those things that are pricey and you don't really need, just want them) on credit cards. Little by little you will find your way, especially as you learn to budget (or what every system you use) and save up for things. It will give you a fantastic feeling when you can hand over hard cash to pay for whatever you have been saving for. You will probably surprise the casher as well as most things get paid for with a card.
        Gailete
        http://www.MoonwishesSewingandCrafts.com

        Comment


          #34
          early june totals end of july
          mort=33700 32995
          cc1 2072 1756
          cc2 1549 786
          car 7692 7400

          so as the end of august is here I keep reading that writing it down like this keeps a person on course.
          end july august

          mort=32995 32580
          cc1= 1756 1490
          cc2= 786 230
          car= 7400 7140
          so by next month cc2 will be gone/ as I said before cc1 being paid in auto payments from my son to pay for an old loan he insisted now that he advanced in his job to pay me back. so all I really need to focus on is car and mortgage the difference in % rate is 1 so it is pretty even.

          Comment


            #35
            I am anxious to see CC2 Gone! Please post the very day you pay off the balance.

            Comment


              #36
              well another month is almost over
              end of august totals
              mortgage 32580
              cc1= 1490
              cc2= 230
              car= 7140

              now the new totals
              end of sept
              mortgage = 31922
              cc1 = 1270
              cc2 I thought I sent in correct amount but 0.75 is my balance today
              car = 6840

              Comment


                #37
                impressive!!
                LivingAlmostLarge Blog

                Comment


                  #38
                  another month just flew by feeling like progress is super slow

                  end of sept
                  mortgage = 31922
                  cc1 = 1270
                  cc2 I thought I sent in correct amount but 0.75 is my balance today
                  car = 6840

                  end of oct
                  mortgage = 31322
                  cc1=880
                  cc2 =0
                  car= 6364
                  losing my zeal at the moment ..need to get encouraged to keep up my pace.

                  Comment


                    #39
                    Originally posted by Smallsteps View Post
                    another month just flew by feeling like progress is super slow

                    end of sept
                    mortgage = 31922
                    cc1 = 1270
                    cc2 I thought I sent in correct amount but 0.75 is my balance today
                    car = 6840

                    end of oct
                    mortgage = 31322
                    cc1=880
                    cc2 =0
                    car= 6364
                    losing my zeal at the moment ..need to get encouraged to keep up my pace.
                    Small steps - don't forget, your work is inspiring others. The forums get a lot of lurkers so every time you post your progress, you are impacting other people's lives.
                    james.c.hendrickson@gmail.com
                    202.468.6043

                    Comment


                      #40
                      OMG are you kidding? It's inspiring watching someone attack the debt. It's great. And imagine you'd still be neck deep in debt if you hadn't bothered to do anything.
                      LivingAlmostLarge Blog

                      Comment


                        #41
                        James and Livingalmostlarge thanks for the kind words but I do not feel like an inspiration.
                        I have a much smaller income then most here and make weekly payments on these debts and on some savings vehicles so it just feels like there is no end to it.
                        my current job contract is nearing an end and I am trying to figure out what to choose I job I can support myself and work slowly on finances like now ......or chase more $$$ to get rid of debt and save quicker but may not like job.
                        I think most people have these moments when they feel like they are on a hamster wheel going nowhere.

                        Comment


                          #42
                          Originally posted by Smallsteps View Post
                          James and Livingalmostlarge thanks for the kind words but I do not feel like an inspiration.
                          I have a much smaller income then most here and make weekly payments on these debts and on some savings vehicles so it just feels like there is no end to it.
                          my current job contract is nearing an end and I am trying to figure out what to choose I job I can support myself and work slowly on finances like now ......or chase more $$$ to get rid of debt and save quicker but may not like job.
                          I think most people have these moments when they feel like they are on a hamster wheel going nowhere.
                          I have visited some financial forums and there always seems to be a few who makes light of what we with the smaller income are doing. One guy made fun of any penny pinching idea, such as making and using your own cleaners and instead would say that instead of that we should work an extra hour for money instead of spending the extra effort to save a few bucks. Apparently forgetting that some don't have the luxury of working an extra hour and making your own cleaners only takes a few minutes!

                          I'm on the scale of not making what probably 99% of the folks here make. I'm on SS and even though I hear we get a COLA this year, I don't know how much they will jack up the cost of our Medicare premium. Last year my entire miniscule COLA increase went to my MC payment! So at the end of the year here, if I owe taxes on my SS, I may be paying higher txes on money I never saw or had in my wallet! I hope they don't do that trick agsin this year.
                          Gailete
                          http://www.MoonwishesSewingandCrafts.com

                          Comment


                            #43
                            another month over
                            end of oct
                            mortgage = 31322
                            cc1=880
                            cc2 =0
                            car= 6364


                            now the end of NOV
                            mort: 30864
                            cc : 1800
                            Car 5873

                            lost 3 weeks of work as I had to go to hometown to be with my mom through end of life hospice care. I also paid for some final expenses since she left an incredible financial mess behind. It was a clear wake up call to organize my affairs and update my will.
                            I still have quite a mess to deal with but i am very disillusioned that banks gave loans to an elderly woman without a real way of paying them back. and NO one checked her debt before giving her more credit as it is the lawyer said it is basically a bankrupt estate if the game was to leave with the most debt she scored BIG.
                            Over half a million in debt and only 1,245 a month in income......

                            Comment


                              #44
                              Originally posted by Smallsteps View Post
                              another month over
                              end of oct
                              mortgage = 31322
                              cc1=880
                              cc2 =0
                              car= 6364


                              now the end of NOV
                              mort: 30864
                              cc : 1800
                              Car 5873

                              lost 3 weeks of work as I had to go to hometown to be with my mom through end of life hospice care. I also paid for some final expenses since she left an incredible financial mess behind. It was a clear wake up call to organize my affairs and update my will.
                              I still have quite a mess to deal with but i am very disillusioned that banks gave loans to an elderly woman without a real way of paying them back. and NO one checked her debt before giving her more credit as it is the lawyer said it is basically a bankrupt estate if the game was to leave with the most debt she scored BIG.
                              Over half a million in debt and only 1,245 a month in income......
                              I trust that you understand that unless you co-signed loans for her, you are not responsible for her financial mess. At least not to pay it off.
                              Gailete
                              http://www.MoonwishesSewingandCrafts.com

                              Comment


                                #45
                                Originally posted by Smallsteps View Post
                                another month over
                                end of oct
                                mortgage = 31322
                                cc1=880
                                cc2 =0
                                car= 6364


                                now the end of NOV
                                mort: 30864
                                cc : 1800
                                Car 5873

                                lost 3 weeks of work as I had to go to hometown to be with my mom through end of life hospice care. I also paid for some final expenses since she left an incredible financial mess behind. It was a clear wake up call to organize my affairs and update my will.
                                I still have quite a mess to deal with but i am very disillusioned that banks gave loans to an elderly woman without a real way of paying them back. and NO one checked her debt before giving her more credit as it is the lawyer said it is basically a bankrupt estate if the game was to leave with the most debt she scored BIG.
                                Over half a million in debt and only 1,245 a month in income......
                                I"m sorry to hear about your mother. Her loans seem outrageous, unless she got a reverse mortgage and her home was worth 1/2 mil. If I were you, I would contact the elder care in her area or maybe the attorney general. Her bank could be taking advantage of other elderly people.

                                Comment

                                Working...
                                X