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We made a 4% lump sum principle payment on the mortgage knocking off PMI.  Also, I 'd to a new job which starts in just under 2 weeks now for a ~19% raise, has no commute, and allegedly a better working environment.
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Jul 25, 2017 19:34
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BAE OF PIGS posted:Not the biggest achievement, but I just paid off one of my student loans, it only had ~$300 left on it, and I was going to pay it off next month on the first when I had the money budgeted for it, but I was getting antsy and just decided to pay it today. Two down, three to go, and under a $6000 balance total. awesome! Enjoy that one fewer payment and paying off your other balance that much faster.
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Aug 24, 2017 16:24
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You gotta live a little, taste the high life. Cook's Extra Dry is where it's at, though spendy at $6.50/bottle
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Sep 7, 2017 23:19
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KitConstantine posted:Officially over 2000 in savings! I've actually hit it before, but had some minor emergencies that ran it down again. Should even hit ~2300 by the end of the month. Now have to get a secured credit card and work on the credit score more while shooting for 3400, aka a month ahead. Awesome, congrats!
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Oct 11, 2017 17:28
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CaptainRat posted:I made the last of my student loan overpayments today; auto-pay will take care of the last $5 + whatever interest accrues in the next 15 days. Here's to being debt-free. Congratulations. Keep those copies of the release of liability/confirmation of payoff in a fireproof safe. Make a copy into your email. Verify you get one for every. single. loan.
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Oct 13, 2017 18:02
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EAT FASTER!!!!!! posted:This is staggering to me but apparently by paying my car insurance in 6 month installments (instead of monthly billing) I am saving myself $260 a year. Wow, which carrier does that? I guess it could also be a state regulation allowing/disallowing it. State farm in CA charges between $12-36/year regardless of the number of lines to pay monthly. (Autopay, paperless bills , and the payment plan itself each reduce it by $1/month.) I just pay the $12/year. This is auto insurance only. All of the others I have with them charge a huge % premium to pay in installments.
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Jan 23, 2018 16:49
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KYOON GRIFFEY JR posted:lol i figured your insurance had to be in the stratosphere after your little... encounter... with the law Story time EAT FASTER!!!!!!. Sometimes those take a policy cycle to kick in?
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Jan 23, 2018 19:44
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EAT FASTER!!!!!! posted:So fortuitously, the ticket I got was written as just "simple speeding, speed unspec." and it was the only ticket I'd gotten in 5 or so years so my insurance rates actually went DOWN to the tune of about $600 a year despite having to get an SR22 added. Allegedly. quote:I also hadn't bid my insurance in several years. Ah, yeah. I don't know what the premium would be to pay monthly on the other lines (Home owners, earthquake, personal articles, umbrella.) That sounds about right, I seem to recall my life insurance was something like 15% more to pay monthly, it was absurd. 3 car lines is $12/year extra cost.
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Jan 23, 2018 20:44
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Tactical Shitpost posted:So after almost 4 years of having a mortgage on my first apartment (which was taken at a break neck pace), job i didn't really like (although it somewhat improved recently) and a life that felt more like vegetating than living, I signed the papers to do a final advance payment on the mortgage - just shy of 11 years ahead of the initial timeline. Awesome! Big congratulations / gently caress you. No Butt Stuff posted:Where are you getting almost 3% on a savings account? Sounds like Australia or otherwise not the USA.
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Jan 29, 2018 18:50
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I realized something this yesterday that I'm pretty proud of: My wife has been meal planning like crazy and it means we have gone from eating out on average ~10 meals a week to ~4 meals a week. (Counting 2 people x 3 meals a day x 7 days = 42 potential meals) It was 5x lunch for me, 2.5x lunch for her, plus typically we would eat out as a family once over the weekend. It clicked when I ran into someone at the grocery store who asked if we were having a dinner party because of the cart full of food for the week. I'm only recently on the packing-my-lunch train but I've been at it for 2 weeks now with 100% success on my targeted 2.5 meals a week. We've been meal planning dinner for months, and she's always been much better at packing her lunch. Now she's up to around >4.5 lunches/week packed. Ignoring the health benefits of me eating home cooked garbage instead of fast food garbage it's been a pretty decent reduction in our expenses. We aren't going /r/frugal insane on this, but it's hard to spend more eating in.
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Feb 5, 2018 19:17
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BAE OF PIGS posted:I got around 2000 back as my federal refund, and I just made a lump sum payment of 2441 to my final student loan, wiping out my student debt completely.
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Feb 7, 2018 16:46
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Doccykins posted:
Congratulations, that's an awesome bump to your retirement and you are so close on the loans!
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Mar 14, 2018 15:04
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6% raise and title bump this year, thanks to a combination of BFC advice, not wanting to eat catfood in retirement and 
I'm taking 2% as a Cost of Living adjustment and increasing my pension contribution from the 6.5% employer match to 10.5%. I'm projecting to finally pay off my student bar tab in October so that will be the real pay increase for nice things 
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Higgy posted:Crossposting a little from the corporate thread, but I finally got a long awaited promotion made official and it came with a 25% raise. I'm blown away that management went to bat for me on this one and now I need to avoid lifestyle creep which is hard. Congratulations! Isn't that a good feeling? One way to avoid it is to crank your 401k savings rate if you don't max it out every year.
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May 22, 2018 02:29
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spwrozek posted:Our target based on how we did was 2.75% in February during the raise allocation. Some did better, others worse. It's wealth inequality in a number. The people making more need more money obviously. 100 is a relative cost of living at your level of luxury. Also unless you literally see the pay numbers then there are likely people getting raises / bonuses that are not on that scale.
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Jun 16, 2018 02:38
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overdesigned posted:Paid off my car this month. Feels good. Gonna re-allocate that $600/mo into our mortgage. freeasinbeer posted:Maxed out my brand new Roth for the year, and upped my 401k withdrawal so that it should max it out by the end of the year. Don't undershoot your 401k. Your plan administrator will cap you out automatically at the limit. =Roundup(salary/limit,0) in a spreadsheet. Since it's midyear put in how much is left of each, skip forward one paycheck to make sure you cap it out. Good luck on your raise!
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Jun 20, 2018 14:42
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BAE OF PIGS posted:Came here to post that my net worth (cash and retirement accounts) is now over $50k and it feels nice to see that and you just have to one up me. Congrats! 0->$100k net worth is often the hardest hurdle, even gaining inertia towards it is amazing progress.
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Jul 22, 2018 20:17
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BAE OF PIGS posted:Yeah, less than 2 years ago it was only $13k. Actually sticking to my budget and pumping 20% of my salary into retirement accounts is really helping me get ahead. Houses are roughly net zero against your net worth. In theory your asset offsets the debt and only your closing costs are negative against your net worth.
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Jul 23, 2018 03:04
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EAT FASTER!!!!!! posted:It's hard to tell too accurately (because of month to month variations in loan interest compounding versus market gains and new retirement contributions) but in 2018 we have certainly gone from negative to positive net worth. This is remarkable if only because in 2016 we were almost half a million net negative with student loans and credit card debt. Way to be worthless. Grumpwagon posted:Yeah, but, your expenses go up in most cases, making it harder to save as large a % of your income. Correct, but buying a house isn't a "hole" per se, it's just slowing your rate of savings with maybe a few grand in closing costs worth of "drain." Your liquidity certainly takes a massive hit.
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Jul 23, 2018 18:22
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spwrozek posted:I am curious who still owns a house over decades? I mean even my parents (62) owned 5 houses from 1980 until now. The cost of mortgages surely going up over those times (bigger houses, newer stuff, etc). So do those "your payment doesn't change for 30 years" statements actually hold any water? It does if you make them and are able to buy for the future. I'm hoping this house will last me through until I am put out to pasture. 3bd/2ba 1250 sqft, detached garage with a "workshop" in the back. Our second potential child will have a slightly smaller bedroom at 10x10 instead of 12x12 but such is life. DJCobol posted:Even if you have the same house, and never, ever refinance, chances are that you escrow your homeowners insurance and property taxes. Those 2 things certainly will change, and your payment changes with them. While I understand where you're coming from, by and large the "other" column isn't going to grow by the same rate as rents in the area. The rent while stable for a year or two must increase to accommodate those same changes. It's not like you aren't paying for structure insurance and property taxes in rent assuming the owner at least breaks even. It's outside risk to you, but in theory the risk is priced into the rent. Places like Illinois and California are both insane on the property tax laws and rates (for opposite reasons.)
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Jul 25, 2018 18:13
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Dwight Eisenhower posted:That $100,000 can just as easily evaporate overnight before you liquidate your home, but you'll have to pay the property taxes right now, each year you own it, depending on the assessments. That happens regardless if they're pie in the sky, and regardless of if you get the opportunity to liquidate at those assessments. While you are right, the math in your argument is so close as to be a rounding error in cost adjustment. I'm also curious about the hypothetical $600k house renting for $1800, or even $2150. In both scenarios (rent vs buy) the costs are dictated by market forces which you may not have much if any control over. Decreasing rents don't happen overnight, just like tax assessments don't go down overnight. In Los Angeles (a hot, but not turbo-stupid market) you find people moving further and further away to save that hypothetical $90, which they likely make up in gas money. To me, a lot of this stuff becomes a wash over a long enough period of time (say: 30 years) assuming the market goes up at an nominal trend-line rate. You at least have a modicum of control over it in a property you own which holds value to me personally (and a lot of people.) The important thing is to do what your finances allow you to do to meet your needs, leave keeping up with the jones-es to your neighbors. The long and the short of it is, do never move out of your parents basement.
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Jul 26, 2018 18:40
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Trabant posted:A major milestone for me too: Edit: 19 o'clock posted:It’s been a few days and feels pretty anti-climactic, but I’m finally fully debt free. Made the last payment on my student loans paying them off five years ahead of schedule. Missed this one - congratulations. It's such a good feeling isn't it? H110Hawk fucked around with this message at 16:49 on Aug 30, 2018 |
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Aug 30, 2018 16:04
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100 HOGS AGREE posted:Had to throw more money in my escrow. Who cares, it was like another hundred ad fifty bucks. I kinda look forward to the day I can just opt out of the escrow and pay my own insurance and taxes as I actually like doing that poo poo. I'm pretty close, I'm at 82% loan-to-value ratio when I started at 90% in Jan 2016. One issue with them calculating it correctly is that your taxes and insurance likely change slightly every year. If you read the notice carefully you can probably opt to ignore it and they will true you up through increasing your monthly payment. I loathe the day I have to deal with paying my taxes and insurance myself, but CA pays 2% interest on escrow accounts which until recently was a decent spread over normal savings accounts. If you have >3 or 6 months of living expenses saved up in that $20k, pay down your high interest loans to whatever your emergency fund savings goal is set to.
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Oct 25, 2018 18:18
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100 HOGS AGREE posted:Yeah you're right, I just waffle a lot.I just scheduled a payment to throw 4500 bucks at it this month and maybe more when I get my bonus in December. This may be illegal if you have a conforming freddie/Fannie loan. Get yourself to 78% ltv of the original loan amortization and call again. Press them to show you on your paperwork where it says this. If you are using any other type of loan Google around. See if they will do an automatic valuation.
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Nov 3, 2018 15:56
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100 HOGS AGREE posted:I'll have to check my paperwork I was just talking to one of the phone agents at Quicken she may not have known what she was talking about. Yeah they can't override law. Lean on point #2 when you hit 78% of the original loan amortization.
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Nov 3, 2018 17:03
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100 HOGS AGREE posted:Do you have a source on that law? Ugh my mistake here. I thought it was guaranteed automatic at 78%. You might still ask but it looks like that stupid date is set in stone. I thought it was "30 days past the date when your mortgage hits 78%" and not just a scheduled time. Wells Fargo cut mine off at 78% with just a phone call. Might be worth a shot to save $500 on an appraisal. https://www.consumerfinance.gov/ask-cfpb/when-can-i-remove-private-mortgage-insurance-pmi-from-my-loan-en-202/
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Nov 3, 2018 17:31
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100 HOGS AGREE posted:Quicken left me a voicemail saying the thing would cost $115, so I imagine it's just some in-house thing they do that's similar to but not actually an appraisal cause that seems pretty low. Sounds like a automatic valuation. Much better than the $500 or whatever it would be for someone to show up. Do it!
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Nov 6, 2018 22:49
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100 HOGS AGREE posted:Oh I never gave an update, they actually did send someone to my house and he just took like twenty pictures and left. House value came in like 30k above what I needed so my December payment was the last time I have to pay PMI. congrats! Same thing in the other thread. Sounds like you are setup to have a ton of freed up cash flow really soon.
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Dec 15, 2018 18:19
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howdoesishotweb posted:Tax loss harvested for the first time. $600 saved, thanks tanking market! 2 more days like this and my retirement accounts will be back where they started Jan 1 despite maxing everything out!
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Dec 20, 2018 19:00
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Rolo posted:I made a plan 8 months ago and today my total credit card debt is zero dollars.
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Dec 30, 2018 18:17
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MrOnBicycle posted:Started to do one big grocery shopping (and thus planning dinners etc for a whole week). Slashed spending by 40% while eating better and higher quality stuff. Congrats! Meal planning is a great way to save time, money, and reduce waste from spoiled food.
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Feb 20, 2019 16:42
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Paid off 5.6% of my mortgage today in one lump sum, knocking nearly 2.5 years off my mortgage. Also this is the nicest / least obnoxious calculator I've found: https://www.daveramsey.com/mortgage-payoff-calculator
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Feb 28, 2019 18:17
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100 HOGS AGREE posted:thats it im fuckin done! Enjoy owing them $0.62 in interest and needing to mail them a check or something.
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Mar 28, 2019 23:07
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100 HOGS AGREE posted:the payoff amount seemed to overestimate compared to my remaining balance so I think I might get a check for like two dollars in the mail in a couple months or something Totally worth it. Scan, email yourself, and then frame your payoff document. gently caress em.
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Mar 29, 2019 03:03
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overdesigned posted:My wife got her promised $20k raise now that she's off her probationary period so now we're both maxing out our 401(k) contributions for 2019! Also we paid off the last of her grad school student loans. April was a good month. Congratulations! That's so much in one month.
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Apr 29, 2019 02:52
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SlapActionJackson posted:Scan/snapshot the receipt and note the date, scanned filename, brief description, and amount in a spreadsheet. The spreadsheet is the summary you use to claim the money in 30 years and the receipt scans are just in case the IRS audits you. Google drive has a "scan" feature too on your phone which makes it really easy to scan flat things into small files. That plus a Google sheet should be everything you need.
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Apr 29, 2019 03:24
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Purple Prince posted:Well, it's been a tough couple years (I almost went bankrupt at the start of 2018), but I finally paid off all my regular loans and have 3 months of living expenses saved in an emergency fund. Congratulations. That's a huge turn around.
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Jul 30, 2019 17:56
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overdesigned posted:At the age of 35 I have finally managed to max out my TSP contributions for the very first time. With two months to spare! (I don't get any matching :\ )
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Nov 14, 2019 20:20
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This thread has a lot a awesome wins recently. That first $100k is definitely the hardest.
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Dec 28, 2019 21:32
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BaseballPCHiker posted:Payed off the last of my student loans, woohoo!!!! great job.
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Mar 3, 2020 17:08
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Mad Wack posted:
C-Euro posted:Paid off my car in full today, and a few months ahead of schedule at that Call your insurance company and tell them this news if it's new in the last 12 months. You should be able to lower your estimated annual mileage. I'm down to under 8000 miles a year in aggregate between 2 adults and 3 cars. Fewer miles driven means less time exposed to collision/liability risk.
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Mar 7, 2020 00:16
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