I transferred 10% of my paycheck to savings; and the work has ceased making physical deposits for the expense checks. They deposit the repay into the checking account so I transferred the repay into savings too (they used to deposit the checks into the savings for me but have switched to e-deposits). Incremental steps. 7 months ago
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How I did it: I set up on-line transfers between my savings and checking accounts. I transferred 10% of each paycheck to the savings account. Any money repaid to me (from work or business) was deposited directly into the savings account. I also continued to pay myself the student loan amount since I paid it off. It took a while but the small payments added up and weren't very painful to make.
I elected to pay the closing costs and escrow out of pocket rather than roll the costs into the loan. This expense delays the 3 mos. salary. It looks like March is when I will have this magic number. 7 months ago
I transferred 10% of my check and Jeff’s paycheck into the savings account. I also made a student loan payment to the account (for September). My dad paid me for his cell phone through December. I wish he wouldn’t – it is no big deal to have him on the plan. But there is no arguing with him so I will deposit the into the savings account too. Based on my calculations, I could reach the goal by January but I expect there will be a set back with refinancing the house because I didn’t roll the closing costs into the loan. Nonetheless, we are getting there! 7 months ago
I reconciled the checking account and transferred 10% of my paycheck to the savings account AND I made a school loan payment to myself. I also deposited (had to physically GO to the bank because I can’t get the virtual wallet to work) a reimbursement check from the office.
I know I will get to the 15k goal but it may not be by the end of this year – it may be early winter depending on the costs for refinancing the house. But that is ok with me. I know the direction and what I am doing – make savings goal; then save smaller amount for a car and meet with a financial adviser to invest for retirement; pay off house. 8 months ago
Transferred savings (10%) for my paycheck and for Jeff’s!
Paid student loan payments for June and July into the account – caught up. 8 months ago
This will be a stretch to make by the end of the year – at the rate I am going, we will be there in Feb/Mar of 2013. But I think we can do this and I will give it my best shot to continue finding money to transfer to the savings account (I love the bank’s interface).
I caught up the student loan payments. We paid off the loan in May and I ceased to make payments to myself (didn’t employ the debt snowball). But I paid ourselves the $90 fee in August. And now I caught up June and July. I will make the September payment at the end of the month. 8 months ago
I just realized that I should be transferring the student loan payment to the savings. We paid off the loan in a lump sum earlier this year and I should have continued to make payments to get the savings goal – it is money that was already allocated. I will start that this month – today – now! 9 months ago
I was conscientious and transferred money after entering my paycheck in the register. I don’t know why I put things off like this – even if I don’t have time to reconcile the account to the online statement, I can still keep up with the transfers and reconcile at another time. 9 months ago
I transferred 10% of our paychecks to the the savings account last night. I really like the ‘new’ bank’s website. They make it easy. I missed a few paycheck transfers but I will be more attentive because I really want to reach our goal by the end of the year. I made a ‘catch up transfer’ so I am current through the year.
I have been ‘baby stepping’ – we are on #3 Save 3-6 months’s expenses and I hope to accomplish this by the end of the year.
Then invest 15% and save for new car. 9 months ago
I took the CRV in for servicing today – just routine stuff and I wanted to check the alignment before we drive north. As I waited for Tomie to pick me up for the client meeting, I looked at a few newer CRVs. To my surprise, I felt a stirring of desire for a new car. I really don’t like cars and I DO NOT want a car payment. Both Hondas are running great; I have never opted for a ‘new’ car. All of our car purchases have been out of necessity – replace a totaled vehicle or left a job that provided a car. So I reminded myself of my financial goals – 3 months salary then save for a car and increase the retirement investment. In fact, the trip we are taking to NYC is partially funded by Craven and then with ABOC funds – no household money so all the goals are still in sight. 11 months ago
All accounts are balanced – we have eaten out a lot and spent a bit more than we should have but overall, good. And, I have been doing well with the $ transfer. I am about half way to the 3 mos. goal.
So far, I have $1k e-fund; paid debts (almost all – pending last payment to student loan); have started 3 mo e-fund. I think the e-fund is about 6 weeks worth.
3 financial goals:
3 mos e-fund
fully invested in retirement
All in due time. 12 months ago
I need to balance all the accounts and re-evaluate where we are. We received the tax refunds and I deposited them in SEC – so I need to get an accurate tally. Also should try to be more assertive about work hours – why do I continue to live so undisciplined when I know that I get more pleasure from a more structured life? 12 months ago
I love the new bank’s website interface. It is really intuitive. I try to remember to transfer $ with each pay check. 10% is an easy amount to do from my checks because I get paid bi-monthly. It will be more of a challenge when I do it from Jeff’s since his is monthly.
I am getting closer to my goal – that is an approximate amount for 3 mos. I really want to get it there this year which is a steep order. And I know that saving 10% will not do it since 3 mos is actually 25% of the year – so I need to save 25% to get there in a year. Nonetheless, it might be doable if I get the 10% and pay off the student loan. 13 months ago
I moved $ from checking to savings – the new bank makes this so easy. So I got paid last week and transferred 10% into the savings. 14 months ago
I transfered 10% of my paycheck from checking to savings – the new bank has a great interface and I think I can continue doing this. It will get us to our 3 month saving goal faster if I can quantify it in a separate account. 14 months ago
My bank was eaten up by another bank. With this new website and account, now would be a good time to make regular deposits from checking into savings until I reach this goal – should be do-able. As soon as I can get on the new website – I think that is tomorrow. 14 months ago
I had some loans repaid to me and deposited the money in our credit union. I also received some gifts and deposited those as well. I have reduced spending but need to transfer the $ from our checking to the credit union so I can pursue the 15k. 15 months ago
I was doing really well in 2010 – we paid off all debt except the house and school loans. In 2011, we saved approximately 1.5 mos of salary. But I would like to bolster the savings and get done with the school loans. I kept a budget spread sheet all year and have good data to review. Basically, I know that groceries/restaurants are the largest expenditures that could be controlled. I need to spend some time working on this and then move money to savings. 16 months ago