How do you think you are doing?

**pearlieq** · 08-14-2006, 06:26 AM

Re: How do you think you are doing?

I have my worries. I think we're saving enough, but I know I could be more disciplined and have us save more. But then I worry that we're living too Spartan a life and not enjoying the here and now.

I also worry a lot about our investments. I'm not too savvy about investing and I wonder if I should really be trusting targeted funds for my retirement or if I should diversify part of it and balance it out between stock & bond index funds. I worry that my 401k is a big lopsided mess.

I worry that we don't really have adequate life insurance for DH. He's diabetic and coverage is very challenging to get, though it would be possible if he cleaned up his act a bit, which he does seem to be doing.

I worry and I worry and I worry. I'm quite good at it.

**PrincessPerky** · 08-14-2006, 06:41 AM

Re: How do you think you are doing?

not bad enough to flog myself, but not good enough to pat us on the back...

better than before, but not as good as tommorrow.

**Kris10Leigh** · 08-14-2006, 07:00 AM

Re: How do you think you are doing?

How are we doing? Better today than yesterday and better yesterday than a month ago. We are now on the right track.

Our savings are little to nothing.
Our debt is very high.
But we are on the road to fixing both of those problems and everyone has to start somewhere. So I will not beat myself up over it.

**TinyFish** · 08-14-2006, 07:28 AM

Re: How do you think you are doing?

I think, like veronak, I worry a lot, maybe too much. I do a lot of what the FishGiver (DH) and I call 'regret management'. I do things to the max so that later, if things go wrong, I at least can feel I did my best. A little crazy maybe, but it works for us.

I've got mostly index funds, which I think make a lot of sense, but of course there is always the risk that things won't work out. I remind myself that even picking 'bad' investments and saving is still way better than not saving! Sometimes, what may end up being a mediocre or somewhat bad decision in hindsight, is still better than no decision at all. I know a lot of people who don't save, or don't invest what they save because they are afraid of making a mistake. Those people have pretty much no chance, I'm at least giving myself a fair shot.

I think Kris is right too, you have to give yourself credit now and then for all the progress you have made, whatever that is. That's what will help keep you on the right track.

-TinyFish

**getforfree** · 08-14-2006, 07:32 AM

Re: How do you think you are doing?

Comparing to a year ago, we are doing relly well. We are making more per hour at our jobs now. We have more in savings, small EF is completed, and we have 6-mos living expence fund, and less in mortgage to pay.

But we are spending more now on fun stuff. Dh finally gets to spend money on his hobies. He got a few fishing poles, 2 expencive guns, and some other toys.

We haven't eaten out for more than 6 months now, which is a good moneysaving thing.

We have done some house improvements since then.

I have a newer car now and bought truck to replace Dh's car too, but still didn't sell the other car yet, so now we have 2x more money in cars than we did a year ago.

**Ima saver** · 08-14-2006, 08:44 AM

Re: How do you think you are doing?

I think we are doing ok. I made some bad decisions buying stock in 2000 and the stock has never recovered. However, we make a profit on every house so our cash in banks has increased a lot. Of course, now it is all sitting in this house for sale, so that worries me. But my husband has enough work for a year, so if the house sells, we will be doing great!

**Broken Arrow** · 08-14-2006, 09:07 AM

Re: How do you think you are doing?

I think I am doing well.

I try to maximize my surplus each month. In other words, I'm doing my best to live well below my means, and try to end up with as much of spare money as possible at the end of each month.

Of course, all that spare amount is used to pay down my debts, but so long as I can keep it up each month, I think I am doing well....

**getforfree** · 08-14-2006, 09:42 AM

Re: How do you think you are doing?

I am sure everyone is doing better since they joined the cite and trying to save money.

**DivaJen** · 08-14-2006, 11:16 AM

Re: How do you think you are doing?

We're doing pretty well. We have savings, we actively save for college and retirement, and we live below our means. There is still room for improvement, though, so I continue to try and learn what I can and put new ideas into practice. I'm learning to be more assertive and more proactive where our money is concerned, and that is a big deal to me.

**34saving** · 08-14-2006, 11:33 AM

Re: How do you think you are doing?

I'm pretty sure we're saving enough, but I don't know about the whole investment thing. So many calculators say things like "assuming 10% growth". Yikes. I'm really not sure how to get that! ( . . . .and the three financial advisors I've interviewed have a hard time going beyond front end loaded (5.75%!!) mutual funds, so I'm not so sure they know much more than I do . . .)

**greedy4chips** · 08-14-2006, 11:59 AM

Re: How do you think you are doing?

Phenomenal! Sorry, but it is the truth.

Do we overspend and have wasteful spending? Yes, but we earned that right by solving our debts 3 years ago. Back then we had no right spending the way we were. We didn't have a plan in case bad stuff happened. Now we do! We feel in control of our finances versus stuck to payments, due dates, and paychecks.

I built a website that has made on average $600+ for 2+ yrs and I had absolutely no webdesign abilities. What I had was a desire to learn while lying flat on my back for months. I couldn't sit for 3 months after surgery and then I could only sit in a reclined position for another 3 months. One thing led to another and voila I had a website up and running and making me money. I found something I liked and just ran with it. Am I a big success? Not hardly Am I happy and secure? 99% of the time! 1% of the time I think I could do more and be better off financially and secure in not needing to ever work for anyone else.

We have a beautiful, healthy family (besides my back), a house we love and the comfort of knowing if we lost all income tomorrow we would be fine for months because we planned for disaster and hope for the best!

We have $135k in investments, another $40k+ in CDs, 10k in checking, and 2k in the house for inspiration to save more! I love looking at the cash! When I traded stocks I had $108,000 in my acct. I wanted to cashout and go to the bank and get 1080 $100 bills an lay them out on the floor. I wish I did, because I would have never lost it. I was afraid to lose a few days of trading time. Now I keep that 2k around to inspire me that all can be lost and not to take things for granted.

I am not bragging and hope no one takes this wrong. I am only showing you where you can be with effort and a plan. I drank coffee instead of soda to save $20/ month, never bought snack foods at our gas station stops, etc to make the sacrifice it takes sometimes to get back on track financially.

I wish you all the best on your adventures. It isn't easy and the disagreements can run deep from time to time. Just have a plan and stick to it!

**Ima saver** · 08-14-2006, 12:13 PM

Re: How do you think you are doing?

Greedy, I like you! I have wanted to have a lot of money since I was a kid. I wanted to have a room just filled with dollars bills, so I could go inside and wallow in the money!!34savings, why don't you get into a no load mutual fund all by yourself. All those "advisors" want to do is to make a 5.75% commission. We can help you!