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erzuliefreda
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« on: December 31, 2011, 02:01:47 PM » |
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Last year, I started a poll for New Year's on your household net worth. I thought perhaps a general resolutions thread might be fun this year?
2011 saw lots of unplanned home expenses for us, including needing a new roof, repairing parts of our siding and window flashing, and an external paint job.
This year, we will: purchase life insurance for our mortgage amount, continue to save up for the impending death of the HVAC, continue not buying extraneous new clothes, and continue building our savings and paying down debt.
I want to eat out less often, but in much nicer places--my goal is to spend about the same amount, but instead of eating lousy food all the time, partake of my city's fine dining at least once each month.
How about you?
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minimimi
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« Reply #1 on: December 31, 2011, 05:23:57 PM » |
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Mine are already set.
1) Max out my 403b. No, I do not mean contributing enough to get my employer's match, which we get whether or not we contribute. I'm talking the full $17K legally allowed. I'm a humanist who doesn't live in an expensive region, so I'm not at all fabulously paid. This is a big chunk of my income.
2) Continue to max out Roth IRA.
3) Tithe.
4) Continue to grow house fund. In case of tenure, I'm going shopping f'realz. No more mere real-estate porn!
Will our fearless heroine succeed?
I have no idea. I'm doing the first one just to see if I can. I mean, it's only a year.
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marigolds
looks far too young to be a
Distinguished Senior Member
Posts: 7,355
i had fun once and it was awful
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« Reply #2 on: December 31, 2011, 05:56:55 PM » |
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Ours: pay off credit card, save up enough to do some renovations and repairs we have been putting off. (Maybe $15K would be enough to do ALL KINDS OF STUFF that we have been talking about for years. And this years it just might happen, since the old band's back together.)
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"You and your mom are hillbillies. This is a house of learned doctors."
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grasshopper
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« Reply #3 on: December 31, 2011, 06:50:37 PM » |
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That's wonderful, Marigolds - I'm so happy for you.
This past year has been about learning how to manage with a dramatic reduction in salary. I love my job, don't get me wrong, but the pay is WAY less than what I'd been making before. So with my consumer debt paid off as of January 15th (was supposed to be January 1st, but, well, I needed yarn), I'm going to start saving. For something. Not sure what. Maybe a house. Maybe a move. Maybe just to save. But I want money in the bank.
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chaosbydesign
"I like to lyse bacteria. Did you know I'm utterly insane?"
Member-Moderator
Distinguished Senior Member
Posts: 12,371
I'm doing Science and I'm still alive.
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« Reply #4 on: December 31, 2011, 07:26:03 PM » |
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And this years it just might happen, since the old band's back together.
They are? I love that band. Mine is to make lists when I go shopping and stick to the damn list, as I always manage to spend three times what I intended to spend when I go shopping. I also need to stop buying expensive food at school and start taking my own lunches more often. |
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Seriously, I tried to lick my own face. Ah. Typical ivory tower pedanticalness.
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octoprof
Member-Moderator
Distinguished Senior Member
Posts: 32,748
Dérailleur-in-Chief (nominee)
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« Reply #5 on: December 31, 2011, 08:40:49 PM » |
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1) Increase my contribution to TIAACREF by 1%
2) More dinners out with friends, less dinners out just for laziness reasons.
3) Give away a higher percentage of the income than last year.
4) Ride the bus to campus more often.
5) Ride the bike to campus more often.
6) Pack a lunch and eat it at my desk more often than last year.
7) Save enough to pay an extra chunk on the mortgage of the unsaleable house.
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Let us consider that we are all partially insane. It will explain us to each other; it will unriddle many riddles; it will make clear and simple many things... Mark Twain
It is our choices that show what we truly are, far more than our abilities. Professor Dumbledore
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itried
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« Reply #6 on: January 01, 2012, 08:17:34 AM » |
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For the past 10 years since I finished my PhD, I've been making minimum monthly payments on my $30,000 student loan, which has been following me around since undergrad (20 years). This year, I'm resolved to pay off half that balance. If I continue to save at the rate I'm saving, I can do that by autumn. Once I pay off this loan, I will have zero debt!
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rugger
Junior member
Posts: 63
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« Reply #7 on: January 01, 2012, 11:33:47 PM » |
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1. Payoff student loan balance (~$20,000), becoming debt-free
2. Increase emergency fund from 1-month to 3-months
3. Continue maxing out Roth IRA
4. Give more than last year
If I stick with the budget I have worked out, should all be within relatively easy reach...
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pedanterast
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« Reply #8 on: January 02, 2012, 12:01:52 AM » |
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Since I am retiring pretty soon, I am going to see if I can live on half my take-home pay. I took last semester off, so if I can do that, it will be like not having taken that semester off. Sort of, anyway. Typically I rent two bedroom apartments and use one bedroom as an office and entertainment area, but I'm not going to do that this semester. That will save about $350 a month. Also I am going to bring my lunch four days a week instead of three. Thirdly I plan to cut my beer consumption by 25%. I figure the best way to do that is stop drinking beer during the day on the weekends while watching sports. No beer until dark, or at least twilight. I don't drink beer during the day during the week so it shouldn't be all that tough.
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