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[–]dequeuedWiki Contributor[M] [score hidden] stickied comment (0 children)

[–]wwwong 0 points1 point  (0 children)

32/m/250k-300k yr

Live in NYC. Left job last year, started a consulting business.

1) Stop sports betting. I tell people I breakeven but lose between ~10k/year. 2) Save/Invest max so I can afford to buy a house in NYC or the Bay Area where I'm from. Could be $2-$2.5M to buy a 3BR house by the time I move back in houses w/ decent school districts. (Max SEP/ROTH contribution, save $30k cash) 3) Buy real estate in decent market as a forcing function to save/invest

[–]cosmatic79 0 points1 point  (0 children)

38/m/ business owner 2017 was complicated to say the least, I left a job started a business and had a child. I still have student loans, but have a house and car that are paid-off. My goals for the year are to get my taxes current, save $5k in cash, and start a investment portfolio as well a saving for tution. I made roughly $45k for a single contract last year, but not much after that. Therefore another goal is to expand my business into new areas.

[–]six_to_ten 0 points1 point  (0 children)

25 year old. Bought a too expensive house and lived with roommates. Felt uncomfortable since, but didn’t admit the mistake to myself until two weeks ago. My fiancé have decided to do a reset!

  1. We want to sell our house, and as a result get ~15k in equity.

  2. sell her car (10k left on loan @ 14.7%) and use the money to pay cash for another.

  3. Rent out a ~1k/mo place to stay

  4. In one years time following the sale of our house, our goal is to pay off our remaining high interest debt completely ~20k, pay the bulk of low interest debt off ~15k, using as much of the equity as reasonable.

  5. Save up 50k for a down payment on a new home.

Time to tighten the belt...

[–]Kononist 0 points1 point  (0 children)

I want to be able to afford a vehicle in 11 weeks. I start a new job on Monday that is paying me almost the basic canadian minimum wage. 14/H. I have little cash right now.. but that is to pay of my 300$ Loan and than I will be debt free. I am a holiday travel worker and want to travel the rest of my stay in Canada. In 11 weeks I'll have 5300$ after tax. After all my expenses I should be left with 2700$ by beginning of April. Gonna make a vlog about how it goes.. let's finance some shit..

[–]faulome 0 points1 point  (0 children)

26/f 97k/yr

1.) Increase emergency fund - Currently I am at 6 months but would really like the wiggle room of 7 - 8 months since owning my own home has shown me just how expensive things can get.

2.) Save up $5,500 to max out my Roth IRA at the beginning of 2019. I already maxed out this years on the 2nd of January woot!

3.) Max out my 401k. I currently have it set where 23% of my paycheck is put right into the 401k. I should be maxed out end of November. Unfortunately, my employer does not match so I am not worried about maxing out early.

4.) Aggressively save to pay off my Ygrene loan that is attached to my mortgage. Currently I pay ~$410 a month into my escrow account for the next 9 years (just finished one year of the loan). I plan to save a minimum of $800, extra, a month and have the loan paid off in the next 3 years. Unfortunately, I cannot pay extra per month towards the loan, I have to pay it off in one lump sum.

5.) Follow MPF closely for their monthly 30-Day challenges to save even more. I saved myself $37 a month with Novembers challenge to 'Audit your insurance coverage'.

6.) Have ~$6k saved for my next big vacation trip. My boyfriend likes to do one big vacation trip a year, this years trip is already paid for, Vietnam here we come!

[–]elleantsia 0 points1 point  (0 children)

1) Save $5000 by June

2) Pay off my credit card by March ($1100, 0% apr promo ends)

3) Open a Roth IRA

4) Increase my income with the new job I potentially may get!

[–]brimacki 0 points1 point  (0 children)

  1. Increase joint net worth by $50k by end of 2018.

  2. Purchase car in cash for ~$15k in early March.

  3. Keep expenses at $5k/month. Joint annual income is $150k.

  4. Obtain appropriate savings vehicles for goals of different lengths.

[–]bearded_celt 0 points1 point  (0 children)

I'm 28(M). Just moved to America in May last year and started my first job in November. I previously lived in London for 2 years and saved absolutely zero money beyond 5k in a pension fund.

My goals this year are to build an emergency fund, save enough for downpayment on a house and max out my IRA.

Although i have been terrible at saving my whole life i also have zero debt so that puts me in a decent position.

[–]leaveit2 0 points1 point  (0 children)

Goal is to only have a Mortgage/Car Payment/Utilities by the end of the year

We got very irresponsible with CCs over the past couple of years and are currently working on paying those one

1 was paid off yesterday. Every extra dime is going towards these as well as us trying to sell any random unused things around the house to get funds. I can't wait for the relief.

I went several years without credit cards but then told myself that I was now responsible enough to have them (Mid 30s here) but turns out that I am not responsible enough. We've cut them all up (minus one where we lowered the limit to $500) and rely solely on paycheck stream for income.

It's one of those things where you look back and say, "WTF were you thinking?" but no sense in dwelling on the past. Can only look forward and try to do better.

[–]coolkidkili 0 points1 point  (0 children)

I'm planning to move to Canada to get my MLIS next year (I live in the US), so my goal for 2018 is to make sure I'm financially prepared for that.

Coming from abject poverty and being basically financially illiterate (I've never had more than a couple thousand dollars to my name at once), but I recently got the best-paying job I've ever had and live with my parents rent-free, so I'm hoping to dump as much as humanly possible into a high-interest savings account and hope for the best. I wish I could be SMARTer than that but I don't know what I don't know... you know?

[–]zeezeedee 2 points3 points  (0 children)

Early 30s single lady working entry level position in a profession that required a lot of school. Current financial status: student loan repayment + getting retirement to where it needs to be.

My 2017 goals were:

  • Get emergency savings up to 6 mos. expenses + 3k extra for good measure (CHECK)
  • Pay extra on student loans throughout the year to get them below a certain threshold (CHECK, was able to make an additional 1k payment at the end of the year after reaching emergency savings goal)
  • Keeping up w/ budgeting (CHECK - YNAB addict here)
  • Starting Roth IRA (CHECK - although I'm only putting in a minimal monthly amount until I pay off student loans. This is in addition to 15% pre-tax including employer match into 401k)
  • Side hustle of 5k total beyond salary for the year (CHECK)
  • Reaching net worth goal (CHECK - exceeded it by 1.5k)

2018 Goals

  • TRY TO CHILL OUT ABOUT FINANCES FOR GOD'S SAKE because I've finally gotten things under control and figured out a plan for the future (thanks pf, ynab, etc.)
  • Work hard, enjoy life hard, stay healthy, stay engaged, fight the good fight, make the most of downtime, & cultivate projects that could lead to more happiness (& potentially income) in future
  • Pay off 1st and 2nd student loans (slightly lofty goal but I'll try)
  • Contribute at least 1k more to 2017 Roth IRA before deadline & max out 2018 Roth IRA (might be hard to do that in addition to student loan payments but we'll see)
  • 10k side hustle to help w/ above goals
  • Reach new net worth goal

Future goals

  • House down payment of 30% to account for closing & moving costs (I'd like to be saving for a house down payment right now but that's just not where I'm at. Accomplishing my 2018 goals will get me one step closer to that.)
  • Regularly put 17-20% pre-tax to retirement & max out Roth IRA (and maybe, someday, be able to max out 401k)

Here's to a productive year!

(edit: formatting)

[–]isthatmyaltacct 0 points1 point  (0 children)

22/m 60k/yr

1.) Expand emergency fund - I've had just a 1000$ emergency fund for quite sometime but I was able to defeat my credit card debt leaving me with only low interest debt and now I'm ready to build that up to 3 months of expenses.

2.) Begin funding a roth IRA - I know starting early is essential to being able to retire so I plan to at least start one, fund it monthly and hopefully max it out by tax season next year.

3.) Slim down my budget - four months ago I was sucked in over on /r/ynab and started my first ever budget. Having a budget gave me so much visibility that I was terrified of facing before, but now I know where my money is going and I'm ready to look at the facts and rearrange my priorities so I can save more and support my future.

4.) Find a new job - my job isn't terrible so this isn't the highest priority, but I'd like to move to a company that has better benefits as I'm currently offered no 401k matching and I also feel like I'm not advancing my knowledge and career prospects by staying here. If I receive a pay bump I'd like to use all the new money to maximize retirement funding instead of falling into lifestyle creep.

I don't know if I'll be able to accomplish all these goals, but I'm gonna try my best to and at least learn enough that by the time 2019 rolls around I'm more than well equipped enough to make it happen. Good luck to everyone else with their goals!

[–]Teknotokon_II 1 point2 points  (0 children)

Mine are to set up a 401k/Roth/TradIRA, to have no less than 5k in my bank account at all times, and possibly go to college this coming semester.

Any extra things I should try for? I'm going to start making 11.50 the pay period after this one, and I usually net 30-35 hours per week. Oh, I also live in SC.

[–]anam1129 0 points1 point  (0 children)

I live in bay area and make 100k annual. i am single and live with a housemate don't own a car and i am debt free . My goal : to save 30k in savings, 10k put to 401k, 6 k for 1month winter vacation (solo backpacking for a month in a south american or asian country :-) How I plan to achieve it

1) 15% i.e 15k goes to company espp so I don't even see it. I make minimum 15% profit on top if it if I sell immidiately so 2250 is the minimum i would make. therefore 17.25k saved (.25k + any more profits would be set aside for taxes on the profits) so net 17k saved

2) biweekly paycheck after 10% in 401k , insurance etc is 1700$, rent and bills is 1300$, food and transport is 400$ (i am single and have a housemate) so total expense/need is 1 full pay check of 1700 .when the paycheck comes in i have 500$ deposited automatically to my savings. so in a month i save 1k, spend 1.7k on necessities and still have 700$ left . 26 biweeks =13k saved.

17+13=30k savings acheived!

3) Out of the remaining 700$, 250$ biweekly can go into my vacation account. since I would be taking year end vacation from dec 1, i can save for 24 bi-weeks 24x250=6k saved!

still left with 200$ a month (eating out , shopping money per month)

10%=10k goes directly to 401k so i don't see it.

any suggestions? realistic / unrealistic?

[–]scthoma4 1 point2 points  (0 children)

I have a few goals floating around for 2018. I'm a researcher at a community college and make $58k.
* Get credit score back over 750 Accomplished this today
* Pay off one CC (currently at $2900): on track for March payoff
* Pay off personal loan that was used for debt consolidation post-divorce: On track for September/October payoff (I have until 2020, but I'd like to finish this one up)
* Save enough money to pay for the first two semesters of my PhD program (my tuition reimbursement at work is after-the-fact and doesn't kick in until Spring 2019) note: this is a part-time program, but needed to move up to the Director role at work in a few years, so TA/GAs aren't on the table and I don't want loans
* Replenish emergency fund back to $2k ($3k is the stretch goal)

[–]ilovelucygal 2 points3 points  (1 child)

Learn to budget my money. I'm almost 60 years old and I still struggle with budgeting. I'm on a fixed income & cannot generate any more revenue (long story), so I have to learn to live on what I make. I'm debt free except for my car (new in 2009 and still paying for it, hope to have it paid off this year). I'll need both my knees replaced eventually (might even be this year), I have good benefits at work but cannot come up with the co-pay, let alone knowing what my share will be. They'll have to take $50 a month, that's all I can do.

Basically, I want to get my finances in order and live w/in my means. Not sure where to start, though.

[–]SilentlyAmazing 2 points3 points  (2 children)

31/M ~ $118k/yr & 28/F ~ $43k/yr. My wife and I made our final student loan payment on 12/31/2017 and are officially 100% debt-free. It's been 3 years of an average of $1800 a month since we decided that we'd attack the debt full time. We have no car payments, no credit card debt and no mortgage (renting).

Our goals for 2018 are to:
1) Set aside a 6 month emergency fund.
2) Optimize retirement savings (I'm currently contributing 5% with a 5% match. My wife is doing the minimum to get matching).
3) Save for a down payment on a house. Our goal is 20%, but may do less, and go for a piggyback mortgage, as our financial situation is ok I feel. Where we decide to live (and the associated cost of living) has a big influence on this.
4) Travel.

Steps for doing these goals are to save, investigate a supplemental Roth IRA, or to just simply up my contributions to 10% with a 5% (max) employer match, save and save.

[–]punsational 1 point2 points  (1 child)

Congrats on knocking out those school loans. I'm super jealous. Sounds like a lot of work went into that. I'm 27, make ~52k/year and pay $900/month to get ahead. Hoping to pay off in about four years instead of 10 remaining on term. Will also pay a new car off around then too, so monthly takehome will increase about 50 percent from what I do now. At that point my priorities are the same as your 2-4.

[–]SilentlyAmazing 0 points1 point  (0 children)

Thanks! Feels pretty good. I'm sure it'll be even better in a few months as savings starts to climb. Keep at it, you're well on the way!

[–]barbspc 3 points4 points  (0 children)

24/F full-time sales assistant - ~R$22k/yr

Goals for 2018:

1) Make more money. (Either get a better job or do some side gigs to raise your overall income).

2) Cancel one of your bank accounts and open a digital account. (Less money spent on bank transactions).

3) Create a budget that you will actually stick to.

4) Double your emergency fund.

5) Invest more. Much more.

6) Participate in the 52 week challenge and actually finish it.

[–]Unexpected_CoC 1 point2 points  (0 children)

35/M full-time teacher. Only debt in my life is my car lease ~9k. 400k towards my retirement. Currently 3 months ahead with bills. My goal for this year is to fund my wedding, a trip to the 2020 Toyko Olympics, and move to having 6 months of bills paid for in advance.

[–]skippygo 0 points1 point  (1 child)

23/M employed full time on an engineering grad scheme @ ~£31k/yr

My only goal for this year is to minimise my ~£12k of debt as much as I possibly can. In theory I could pay it all off, but being realistic I'm aiming to get at least £9k paid off by the end of the year.

The steps for this:

  • Create a budget (done)
  • Log every single transaction in my mega spreadsheet (I love spreadsheets - in progress)
  • Stop spending so much money on unnecessary things such as takeaway food or random crap on amazon

My budget accounts for all my regular bills, and allows just about £400 a month to live on (petrol, food and any entertainment/socialising). On that budget I would pay off the last of my debt in December this year.

I fully believe I could stick to that if I have no unforeseen expenses and don't go on holiday this year. Obviously there are going to be some unforeseen expenses and there's no way in hell I'm not going on holiday when my debt isn't actually costing me anything and won't do for some time (talking years here).

With all that in mind, my intention would be to pay the debt off fully by April 2019. My stretch goal is to become more efficient with my money and cut down my living expenses as much as I can (below that £400 mark) which will allow me to pay off the debt more quickly.

My ultimate hope is that I'll stick to the frugal lifestyle after I've paid off all of this debt, so that I can get into some really good saving habits and hopefully be able to save enough for a house deposit by 27-28 yrs old.

[–]pirhanaconda 0 points1 point  (0 children)

Manually entering everything in a mega spreadsheet is awesome! I started that a bit over a year ago. I'm currently on version 3 of my mega finance sheet. I copy over my data log and remake the sheet completely once I've learned enough new excel tricks.

[–]TheHuskyWay 2 points3 points  (0 children)

27/F Environmental Admin Assistant @ $45k/yr.

Financial goals for 2018:

1) Pay off remaining credit card debt ~$5,600

2) Get credit score to stay above 715

3) Save 3 months in emergency funds ~$4,500

4) Add unspecified amount to Roth IRA

5) Have wedding without going into debt

6) Save unspecified amount for home purchase

7) Use wedding cash gifts to save for home purchase

Steps:

*Stick to budget better than I did last year

*Pick up part time job or side gigs

*Use wedding gift money to save for home purchase

*Save for home purchase instead of taking 12 day honeymoon

[–]RandomCashier75 2 points3 points  (0 children)

Female, 26 years old, works full time in retail.

Goals for 2018: 1) Get Federal Student Loans Paid off - if not all student loans.

2) Get a better job - if possible.

3) Save money via finding alternate ways to do things and/or shopping less.

[–]penisthightrap_ 1 point2 points  (0 children)

I posted this in a different thread already but this will help me find it easier in the future.

20, in school, and work part time retail. Make about $4k a year.

Goals for 2018:
• Get into the Civil program
• Get summer internship
• Visit NYC in summer
• Build Credit
• Raise net worth to 8k

Steps
To get into my program I just have to pass Chem and have my grades look decent enough to get accepted. Easier said than done but I believe in myself.

I'm going to make my resumé this week and begin applying for some summer internships. My mom had a high school friend who is pretty high up in my state's nuclear power plant and he told me he would help me get in. I would LOVE to get an internship there even if it involved a 40 minute drive every day. There is also a guy who goes to the same church as my parents, he owns a civil engineering firm in town. That would also be great, shorter drive. Worst case scenario I figure I could work construction full time, as I think that would be valuable experience if I can't get an internship.

NYC trip should happen as long as my summer internship/employer allows it. I have a buddy who's family is generous enough to fly me out there to stay with him so it would be really cheap.

I just got my first credit card and have read basically all the information this sub offers on credit cards. Plan to use it for the little spending I have and pay it off each month.

Last point should be easy as long as I don't blow too much and I work full time this summer. Luckily engineering internships usually pay, and pay much better than minimum wage. Scholarships also help, as I get to pocket a lot of them.

[–]Eiiy-2 0 points1 point  (0 children)

Recreate 6 month emergency fund outside of registered accounts, and contribute full value for 2018 to TFSA and RRSP; Stretch goal to also use unused contribution room from previous years.

[–]ChurnNBurn83 2 points3 points  (3 children)

22/M, just graduated a few weeks ago and started full time where I interned for 2.5 years. Between this FT and PT high school job I still work a couple nights a week I should make about 70k.

2018 Financial Goals:

1) Max 401k with allocations split to get match max from both jobs.

2) Max Roth IRA again

3) Max HSA account

4) Invest additional $10k in take-home pay in brokerage account

5) (Extra) Increase net worth by 50k

Non-Financial Goals:

6) Play less video games

7) Eat out less and cook more

8) Read more (don't think I completed one book in 2017)

9) Find a hobby that I can also make some fun money from

[–]iliketoitlz 3 points4 points  (2 children)

28 $105K per year

  1. I've gotten my SL debt down from initial balance of ~$110K to $52K (finished grad school in 2012) planning to put $35K toward them this year pay them off in 2019
  2. 5% to 401k to get employer match
  3. Max out Roth IRA
  4. Get credit score above 800 and stay there

[–]SilentlyAmazing 1 point2 points  (1 child)

Sounds a lot like me 3 years ago! Just checking in to say that you can do it. Went from $64k in SL debt when I was 28 to just making the last payment on New Year's Eve, a month after turning 31. I don't even know what to tell you it feels like yet TBH, as I haven't even made it a month without dumping extra cash to the loans, but I'm sure it'll be great.

[–]iliketoitlz 0 points1 point  (0 children)

thanks for the encouragement!

[–]mslovelymakeup17 1 point2 points  (7 children)

I'm 18 years old, currently in community college studying to get my 2 years and then transfer, and right now I'm working part time as a cashier at Walmart.

  • Saving up enough for a good first car. I expect to have enough by the end of March.

  • I want to not go over 30 percent of my credit card. This is when I had a rude awakening that all that swiping can go to waste by having a 629 credit score. Currently, my credit score is going up without my poor use of my credit card, and I feel proud of myself.

  • Learn how to live within my means: This is technically not financial, but I think it's beneficial to live within my means because I'm busy trying to keep up with these Instagram girls and I think that is damaging to your esteem and financial health.

  • On the second half of the year I want to increase my income by finding a better paying job, because the job I have now have decent pay, but if I want to move out in a year or so I need a better paying job.

[–]Pharem 0 points1 point  (6 children)

Buying a car at 18 is not "living within your means", honestly. Those costs will kill you financially.

[–]mslovelymakeup17 1 point2 points  (5 children)

What I meant by living within my means, it’s just me saying to stop buying stuff I know I could not afford (certain makeup, clothes,etc).

Of course a car is expensive but I don’t live in the city, so I don’t mind making the “purchase that will kill me financially”

[–]Pharem 0 points1 point  (4 children)

I get that, good that you're cutting on expenses. That's the most important, of course. "Kill you financially" might be exaggerating a bit, but don't underestimate it. You live with your parents now, right? So you're not used to paying bills. Take some time to consider that a car might double your overall expenses and wether that would be worth it or if you could wait a while.

Just a different perspective, no guideline. :)

[–]mslovelymakeup17 1 point2 points  (3 children)

I pay some bills like the my portion of the phone bill, pay them gas to take me to work, and basically light bill. I can afford to buy a car outright, but I’m not buying one with payments. I wanted to save up for insurance fully to not worry about it, and I have took the time to look at emergency expenses just in case.

I know you’re not guildlining me, but my transportation is causing issues within getting to my job in a sufficient time. It’s not like I make minimum wage at my job it pays lretty well for my age but to live on your own with this pay is pushing it where I live especially if I REALLY don’t want a roommate(long story).

[–]Pharem 0 points1 point  (2 children)

Oh I see, my bad! You're used to paying bills, that's great. I was mostly concerned that you might take out a loan to buy a car or something, which would really be a strain on your finances. Good to hear that's not the case.

In that case just be careful that you don't save up for a car and then spend everything to buy it, leaving you at square one with your savings. Plan an emergency fund and all that. But it sounds like you know that already. Not trying to badger you, I just wouldn't want someone to get in trouble financially if me getting them to think about it could've helped them. But you sound pretty smart about it.

Anyway, about the transportation getting you in trouble, it does sound like a car would help you. Does your employer cover transportation costs? That would probably help a lot.

As for this

It’s not like I make minimum wage at my job it pays pretty well for my age but to live on your own with this pay is pushing it where I live

So you do want to move out, but your afraid it's going to be iffy with expenses? What's your plan?

[–]mslovelymakeup17 1 point2 points  (1 child)

I want to move out after I finished community college. Although, I want to guve myself till then to find a better paying job to support myself more. If I get one with my current job, I would have enough to live with a roommate. But I would like to live on my own because I’m a type of person to want my own space. I would need a better income to support a secent apartment in a good neighborhood. Plus, I don’t like working here because the managers are just unreasonable and vicious sometimes. My employer does not cover any cost within transportation whatsoever.

The plan is that I can save up about 6 months of expenses when I move out along with other things like furniture. My parents and I have not been getting along recently, and I don’t think I can stay after I finish two year to transfer to a 4 year.

I know I’m being extra cautious, but I don’t want to move out and fall flat on my face not accounting for expenses that might creep up or if I can’t pay rent on time. Plus, if I wanted to go cheap on an apartment, it’s going to be in a bad neighborhood where the shootings and burglars are at. So, I wanted to get into a decent apartment and neighborhood, nothing too too fancy.

[–]Pharem 0 points1 point  (0 children)

Sucks to hear that your employer doesn't cover transport costs, mine does because afaik there's laws for that here.

Good on you for being careful and not rushing it. All the best of luck!

[–]hereverycentcounts 1 point2 points  (3 children)

Situation: 34F, married, pregnant with first child, HCOL area, live in 1br apt (suburb), work FT.

Current (Solo) Networth: $540k

2018 Goals:

  • Reduce (ridiculous) food budget by 10%
  • Do not overspend on maternity items
  • Hit Networth: $650k
  • Remain in 1 bedroom apartment ($2350/mo rent) in order to save for downpayment / 2 br rental
  • Limit costs for daycare OR make up for these with extra income [TBD]

[–]paladyr 0 points1 point  (2 children)

You are crushing it what do you do?

[–]hereverycentcounts 0 points1 point  (0 children)

And I don't feel like I'm crushing it... can't afford a house here. :)

[–]holden147 1 point2 points  (2 children)

We are going to be moving back to our home state and will be spending a few months living with the in laws. Hoping to use that time to find an affordable home and to continue our goal of being debt free by 2020 so we can enjoy being 30 and debt free for hopefully forever. It's hard with medical bills and things like that but we are slowly getting there and this time next year we should be a mere 18 months from being debt free.

[–]omguard 4 points5 points  (1 child)

I don't think you'll be able to be 30 forever sorry

[–]holden147 2 points3 points  (0 children)

Well then what's all this been about? I've been bamboozled!

[–]anxious_ibex 0 points1 point  (0 children)

Start saving with a tax free index account. I met with some financial advisors and will try to grow this month by month.

I would also like to move to a more affordable city before 2019

[–]ajpalumbo 0 points1 point  (0 children)

  1. Save 3 month’s worth of expenses as an emergency fund (currently at 1 month, around 4k)
  2. Upgrade our car to something with more room; put at least 50% down
  3. Pay $100/month toward principal on our mortgage

[–]imageofdeception 3 points4 points  (0 children)

2018 Goals:

  1. Open a Roth IRA and contribute at least something monthly.
  2. Pay extra on my car loan (~ $3000 leftover)
  3. Get my emergency fund to 3 months and continue to save more.
  4. Pay extra on my student loans when possible.

[–]mintgreentea 2 points3 points  (0 children)

Goals for 2018: Pay off Student Loans (5k) and Lasik Loan (4k)

[–]kemahaney 1 point2 points  (0 children)

2017: Rehabbed student loans out of default Brought credit up 120 points Paid off 2K in medical debt Saved up 15K for down payment for newer truck.

2018: Save up 10K Continue to pay student loans on time Build credit to 750 score

[–]AgentJ691 1 point2 points  (0 children)

27/F in the military. Switched to the BRS, so I'll be getting 5 percent matching (already am contributing 5 percent into the TSP), pay off my credit before it gains interest, get my car fixed, pay off that credit before it turns into interest, save up $1,000 for emergencies, pay off my student loan which is less than $7,000, bump up my TSP and then save up money for a bigger emergency fund, a car I actually want and then for a rental property.

[–]mrsbundleby -1 points0 points  (3 children)

Female, 25, 215k combined Goals: max 401s and both IRAs and get travel fund up to 5k Save for down payment Pay down student loan debt (mine only is left 25k) Pay off car (4k left) Help mom pay for new air conditioner (4k) HHI should increase to 230k in April

[–]paladyr 0 points1 point  (2 children)

What's the interest rate on your loans?

[–]mrsbundleby 0 points1 point  (1 child)

Various 3.6 4.0 5.5 and 6.8

[–]paladyr 0 points1 point  (0 children)

If I were you I would payoff student loans with 5.5 and 6.8% interest rates before investing at all beyond what your employer matches. Just my 0.02, then just pay the 3.6 and 4.0 interest rates with the normal monthly payments assuming it's not just interest payments.

[–]Twirch 2 points3 points  (0 children)

Already started some changes in December but made these after doing a legit budget for the first time today!

1) Eliminate my overdraft debt 2) Take down my CC debt by $6000 3) check my accounts daily/know where and what I'm spending

[–]avalanche_in_aspen 1 point2 points  (0 children)

33f/married/$105k

I want to pay off my mortgage in 10 years. I currently have a mortgage of $200,000 so I have to pay $20k a year. I upped my monthly payments from $980 to $1250 which leaves $5000 left. I will make an additional $1000 payment a quarter plus one extra in whichever month I have some extra cash!

[–]targaryentatas 7 points8 points  (0 children)

  • pay off credit card debt
  • have $2,000 in savings
  • have excellent credit

[–]SareBearPhD 2 points3 points  (0 children)

Pay off my $28000 student loan

[–]tfraking 2 points3 points  (0 children)

This is a bit nebulous but doable:

Apply my entire tax refund (however small or large) toward credit card debt and hospital bills.

[–]soundandchaos 6 points7 points  (0 children)

28F Single no kids, no credit card debt, 64k student loans

2017 Achievements:
-5k in emergency fund (4-5 months worth) up from 2k
-5% salary in Roth IRA
-6k to student loans (avalanche)

2018 Goals:
-9k in emergency fund
-2k in moving fund
-7% salary in Roth IRA
-9k to student loans

[–]starkillerkun 3 points4 points  (0 children)

26F Salary: 36K/yr (Started at 32K last year) with the potential for 37K-38K by the end of this year.

Goals: Stick to my very generous budget of $350 a month while throwing the remainder at my car. Hopefully I'll have it paid off in August ($13K left @ 23% APR, kill me now)

After my car is finished, throw everything that I have at my student loans for the next 2 years

Continue reading up on investing so when I'm debt free I can start building some real wealth.

[–]Ljsnipe 0 points1 point  (0 children)

Financial goals for 2018 -Get my budget more under control -Pay off my remaining CC Debt ($7,700) -Build up a small emergency fund -Live life making better financial decisions

[–]2crispy 2 points3 points  (0 children)

I’m 31F single no kids

2017 accomplishments -dropped debt from to 84k (started at 121k) -I have 15k in 401k -3 months emergency fund -started budgeting

2018 goals -continue debt payoff -save for house down payment -max Roth -max 401k

[–]singingwriting 4 points5 points  (0 children)

18f Full time hs senior doing duel enrollment at a local cc In 2017 I managed a couple of things: -Got a part time job ~10-15 hours a week -Saved over 2k toward college -Applied to colleges and some scholarships -Got my first credit card!

For 2018 I'm going to be a little ambitious: -Work more hours more like ~15-20 -Get my drivers license -Save a minimum of half of my pay checks -Apply to at least one scholarship a week -Get another credit card to help increase my available credit -Mange the student debt I am about to take on responsibly

[–]TheLakeCity 1 point2 points  (1 child)

25/M, Married. Public Health Scientist Making $53k/yr.

My 2017 goals were:

Top off the EF at 3 months worth of expenses

Done.

Stick to my budget better by using the envelope system

Started using envelope system, switched to EveryDollar.

Pay off my 3 unsubsidized student loans (~$4500 total at 6.8%)

Done + paid $1000 of Perkins Loan too

Put $1000 in my IRA and set up direct deposits into it from each paycheck

Did not do this, decided to focus on highest interest student loans first. I did invest $1000 from my HSA in a Vanguard mutual fund.

Update and compile all my passwords for anything related to banking/finance

Done.

Spend more money on fruits and vegetables, less on convenience store snacks

Did pretty good on this.

And read 3 books about PF/retirement

I read: Total Money Makeover, The Millionaire Next Door, and Rich Dad, Poor Dad. I liked TTM and Millionaire Next Door. Would NOT recommend RDPD.

My 2018 Goals Are:

Pay off Perkins Loan

Get a raise to $60k or more

Donate at least $200 to charity

[–]emptyoftheface 0 points1 point  (0 children)

If you're looking for another book to read, check out Little Book of Common Sense Investing. It was written by the guy who started Vanguard, John Bogle. Really good read on index fund investing.

[–]YoureKillinMeSmalls- 1 point2 points  (0 children)

23/M on a 54k salary

  • Continue to pay off student loans of 54k (started at 60k)
  • Build rainy day fund to 5k
  • Save enough money for a down payment on a truck

[–]Demasoni 1 point2 points  (0 children)

Turning 27!

-Get a better paying job (currently at 35K)

-Increase our savings

-Pay off any debt that may occur from the birth of our first child.

-Pay off either the car (8.6K left) or my USAA career starter loan (10k left)

-Pay off one of my college loans (less than 3k left)

[–]jmw08 0 points1 point  (0 children)

Really pushing to finally get the money in savings for a down payment on a house this fall! Funds will be tight until then but it will be so worth it.

[–]constructionkc 4 points5 points  (0 children)

41 years old. Single. Working in construction. Debt Free. Mortgage Free. Maxed out IRA and 401k. It's the first year that I am mortgage free, so I think I am going to have a little fun and take a couple of vacations this year. My financial goal is to write a business plan this year and then launch a business next year.

[–]proccorr 2 points3 points  (0 children)

I paid off my MBA 3 years early, on December 29, 2017!!! Original maturity was 2/3/21. Freed up $5416.

I'm taking the previous payment of $150.54 and splitting it between an increase to my 401k, house down pmt, and IRA.

I did clean out my bank account of $3600 to make this possible, so I'm rebuilding first, then investing.

[–]fedswatching2121 2 points3 points  (0 children)

Max out contributions to my Roth for the first time and keep my student loans low while I’m in school (currently a junior pursuing a BS)

[–]saveferris717 2 points3 points  (0 children)

27 y.o. I currently have zero debt and plan to keep it that way. My goal this year is to learn more about investing and the stock market. I have a savings sitting at a bank and a decent 401k at work, but I know I can make better decisions for my savings. I heard countless good things about the S&P 500, but also want to put a little money into something more aggressive to see what happens since I'm young(er).

[–]mtg_teacup 1 point2 points  (0 children)

Early 30s. No debt.

1st. Finish my self financial education by reading some literature about investments.

2nd. Start investing in stocks/bonds etc to buy appartments to start having additional income by rents and increase savings.

[–]rollos_solo 0 points1 point  (0 children)

My goals for this year are to get my little credit card paid off, get my emergency fund in good shape, and continue to make good financial choices. My stretch goal would be to get a new car or pay off one of my student loans (about 1k).

So far so good! ;)

[–]ladybird722 2 points3 points  (0 children)

Turning 30! Just Married a few months ago. Decent combined incomes.

Goals: Pay off honeymoon credit card (opened it for 0% promo window and to accrue points (we had paid for our own wedding so I wanted to give us a little break in payments so I opted for a new cc. Due by Sept but will be paid off before then approx $7k (also had a dog surgery on there...)

Increase 401k amount due to raise.

Build up our joint savings account for the potential diaper fund that might come to be...

Car has 13k left on it, may speed that up but the loan is so little it's not worth doing so at 0.9%.

Truck has roughly 30k left on it - just got it a few months ago, plan to increase payments since the rate is a bit higher on this one. Might refi it at our local credit union.

Hubs has a rental property which continues to operate at a loss and plans to sell it this year. Time will tell in April.

Career goal: master a certification before March and hopefully pad the resume or the paycheck more!

Whew bring it on 2018!

[–]SryCaesar 3 points4 points  (0 children)

Late 20s, stable job at 50k per year with zero debt. This year, I want to increase my savings/investments to at least 40k (from 30k right now) and invest most of it. I hope to reach 50k, but saving more than 1000$ from my take home pay of 2800$ is turning out to be hard despite some frugal life choices.

[–]cozimpreetiz 1 point2 points  (0 children)

21, living with parents and almost 1 year in a shitty job paying peanuts. Planning on moving on a new job. I also started investing in the stock market.

[–]gpc0321 0 points1 point  (0 children)

43f, public high school teacher, single, no kids. 2018 will be all about saving. Two main goals are fattening up the emergency fund and saving for a 2019 vacation. Anything beyond that will get thrown at a personal loan I took out at the end of 2016 to lower the rate on some credit card debt. September 2019 is when I'll finally be debt free (barring anything happening). So 2018 is just maintaining a responsible budget while putting money away for a vacation and continuing to pay off my mortgage, vehicle, and personal loan. Trying to balance frugality with enjoying life at least a little. :)

[–]millyleu 0 points1 point  (0 children)

mid-twenties, yet another tech worker on reddit, paying off >80% of my cc debt

[–]BW2024 4 points5 points  (4 children)

35m hoping to build emergency fund to 60k. I am very risk averse and lose sleep about not having enough to cover my family for a long while.

[–]InsertRandomUNHere 0 points1 point  (3 children)

60 K sounds like plenty. What are the extenuating circumstances that make you feel like this might not be enough? You might just be making yourself anxious.

[–]BW2024 2 points3 points  (2 children)

We just bought a house and moved to a new city. I am probably being way too risk averse haha. I also think of my emergency fund as savings for a future rental property.

[–]InsertRandomUNHere 1 point2 points  (1 child)

Ah! Okay. Gotcha, that makes sense. Good luck with the rental!

[–]BW2024 2 points3 points  (0 children)

Thanks. I love this sub

[–]maggotsmata 1 point2 points  (1 child)

25/F - Employed Full Time

Finance: -Pay off 4K furniture w/ savings and repay savings account at-least $200/mo -Sell gas guzzling SUV and use 6k from sale to pay off car & put remaining in savings -Budget non-essentials (fast food, nails, etc) to avoid mindless spending -Invest (starting small)

Personal Development: -Finish Associate Degree (11 credits needed)

[–]tbhoggy 0 points1 point  (0 children)

4k furniture

Ouch. Glad you’re getting out of the cycle!

[–]TigTig5 1 point2 points  (0 children)

I'm 24 and 5 months away from graduating medical school. Most likely will be moving for residency and to a lower COL area. Goals are strong budgeting (and tracking/inputting in a timely manner) and starting to pay my loans (about 200K/federal but unsubsidized and at around 6%) aggressively (at least $1000/month).

[–]IMHERETOCODE 1 point2 points  (0 children)

28/M in High CoL area

I don't have enough to get to the end of the week currently, so building up an emergency fund of at least 6 months expenses is number one, and at least maxing my Roth before year end will be good enough for me.

Stretch goal is to start earning enough passive income to fund monthly gas expenses at the least (~$500/mo stretch [not the amount I spend on gas]). Moved from small mountain town to a city with a gas guzzler that I'm stuck in a lease with.

[–]IT_Rook 2 points3 points  (3 children)

31 yrs old/ married / 2 kids / IT field 2017 goals completed - Retain position after company was bought out - Obtained 8% raise - Moved into better area in town, which includes better schools.

2018 Goals - Security +certification - Pay off wife's student loan - Knock my student loan down by %50 - Reduce cc by %50 - Increase 401 from 8% to 10% - Start a ROTH

2018 has some lofty goals, so let's see how this shapes up.

[–]ohiopyl 1 point2 points  (1 child)

While I think increasing the 401k contribution is an important step, paying off CC's is the most logical use of funds to build wealth long term. CC's have interest rates often 18%-25% which you aren't going to find year over year in your 401k. Good luck.

[–]IT_Rook 0 points1 point  (0 children)

You're right attacking the CC debt is a great first objective. If I can be freed of that then other things will be paid down quicker.

[–]_skirmish_ 1 point2 points  (0 children)

Good luck! Working on my CSA+ now. Good to see a healthy IT community showing on this sub.

[–]CaptainCopyright 4 points5 points  (5 children)

21/M jobless

Goals till end of 2018 :

~Get a good job with no education... ~Get a drivers licence and a car ~Pay back 3500-4000€ debt ~save up enough money to move to austria to have greater income

[–]NortonFord 2 points3 points  (4 children)

Are you based in Europe already?

[–]CaptainCopyright 0 points1 point  (3 children)

Yes im from EU to be more specific Slovenia.

[–]NortonFord 0 points1 point  (2 children)

Phew! Then you should be in good shape - just determine your moving budget and start applying online a few months before the target date!

[–]CaptainCopyright 0 points1 point  (1 child)

Well its not that easy as you think,paying back the debt will take alot of time since max pay is about 850-900€ “on 4 shifts” witch is miserable.Not to say that without education is gonna be hard to find a job.

[–]NortonFord 0 points1 point  (0 children)

Of course, but I'm just happy to hear that there won't be any big legal limitations for you - just the usual challenges of handling debt and savings!

[–]proudmomma18 0 points1 point  (0 children)

I hope to get my own small business up and running before the end of May. And I hope to make at least $5000 by the end of the year. I'm a stay at home mom in her 30's who is ready to make this change for myself and for my family's future and well being. $5000 may not seem like much money to most, but to me that's a huge amount of money.

[–]BrowserSlacker 0 points1 point  (0 children)

Short and simple. Be a bit more wealthier than I was in 2017. I hope this is an acceptable response.

[–]starsinhercrown 4 points5 points  (0 children)

Early 30's teacher on a teacher salary. I'm very new to the sub, but in 2017 I paid off my car with 0% interest. I was able to get a good interest rate because my dad cosigned, but my credit score is not great.

I'm basically pay check to pay check at the moment, but in 2018 I would like to bump up my credit score (not sure how many points is reasonable in a year) and save enough emergency funds to get by for 2 months.

[–]SirHaveLotsOfSax 1 point2 points  (0 children)

  • Pay off the engagement and wedding rings.

  • pay off the old car. Bought it in 2014 with 49k miles. Now at 200k and a year left on the loan. I do not wanna be upside down if it blows a head gasket, so that’s my main priority after the rings.

  • pay down her car

  • start saving for a replacement for my old car which is at 200k miles and probably past it’s best days. Probably replace it with a certified preowned Canyon or Sierra Denali.

[–]coconutboss 3 points4 points  (2 children)

Situation: Currently in my mid-twenties, living in an expensive city making about 40,000. At the moment, I do not pay rent. My main expenses are student loans, transportation, and food. I might start a masters program this year. I just opened up a savings account with $6,000. (I would have been able to save more if I hadn’t put a large chunk of money toward my student loan last year).

Goals: Honestly, I’m still figuring this out. On one hand, I’ve been trying to save up “backup” rent because my boyfriend and are trying to get an apartment and his career is just starting to take off. We’d ultimately have to rely on his salary if I were to start school this year, and I don’t doubt that once he gets steady income it will be enough to support us, but it would be ideal to have a few months’ rent saved up just in case.

On the other hand, though, I keep thinking that I should just put the money toward paying off my student loans (it’s at about $20,000 now) while I am living rent-free so I don’t pay as much on interest. I’m set up to have it paid off by 2024 but I think if I lived frugally enough, it could be done in a year.

Either option requires a more frugal lifestyle. I can’t really budge on transportation, which is about $350~ dollars per month. I tend to order in a minimum of 5 times a week on average, which adds up a LOT. I don’t have time to cook dinner every night during the week so my goal is to try and be better at prepping meals for the week on weekends and buying less expensive ingredients. I also probably overspend on clothes. I love clothes and it makes me sad to say it, but I need to set a stricter budget for myself.

I initially planned to keep my student loan repayment plan as income-based and then automatically transfer about $800 a month from my paycheck into my savings account. As I’m writing this out, though, I’m realizing more and more that I should really just use the money I’m saving on rent toward paying off my loans.

I wish I’d been smarter about my career path when I graduated college since my salary is nowhere where I wanted it to be at this point, but I’ve narrowed my path and I am fortunate to have found amazing mentors these past few years who have encouraged me return to school to pursue a better, more lucrative career path.

[–]NortonFord 0 points1 point  (1 child)

Great detail on this! Looking at the different categories you could tackle, I think you should prioritize cutting out takeout food as your top saving project - it's one of the ones that gives you the starkest change for the least effort, especially if you /r/MealPrepSunday!

Beyond that, try to think of some good clear goals that excite you - like tying 3 months of emergency budget to a small-trip budget, or trying to knock out the student loans by X date. You're in a great position right now, and I think the next thing is just to give yourself a definition for success this year.

[–]coconutboss 1 point2 points  (0 children)

I appreciate the tips and encouragement! 100% agree that cutting out /down on takeout and prepping meals instead can have a huge immediate impact.

[–]Superjanitor18 3 points4 points  (1 child)

I'm 42.current job 3yrs.have full benefits health benefits life insurance aflac and an ESOP shareholder.have $1200.00 in bank.iwant the best retirement for myself by 60.is it financially feasible to retire at 60?

[–]vlc_grad 4 points5 points  (0 children)

25, single

-meal prep more consistently -max Roth IRA and 401k -increase emergency fund from 5k to 12k -after the above start paying off remaining student loans (~$10k @4%) at 1k/month

[–]Xertdk 2 points3 points  (0 children)

22 years old. Looking to save and reach 35k+ and invest a little in a mutual fund or a Roth IRA. At the same token saving so when I graduate college to have a down payment on a house or condo.

[–]mrbiggbrain 1 point2 points  (0 children)

29 Y/O Male from Florida, USA

In pretty bad financial shape now.
Student loans went to collection, lost job in October but am getting a 35K annuity payment in March. Total bills are around 1100 per month ($625 rent, $150 power + garbage + water + sewer, $180 car insurance, $40/wk food) and fiancee makes ~$1500/Month now (We are living on her income during job search).

  • New Job (45K-52K)
  • Get secured credit card
  • Get Credit Score over 600
  • Get 4K in emergency fund.
  • Pay down student loan debt.
  • Put my annuity ($35K) into a CD.
  • Pay for a wedding (5K) and honeymoon (2K)

[–]deeeeefinitelytrue 0 points1 point  (1 child)

married couple + little new bb

2017 * both maxed out roth ira * up-d 401k saving rate to for 1 of the 401ks to max out level ($1500 a month) * paid off student loans

2018 * achieve 6 figure net worth * max out both roth iras * max out both 401ks

edit: formatting. I give up

[–]clearskinplz 0 points1 point  (0 children)

Congratulations!

[–]Wetstocks 0 points1 point  (0 children)

Pay off my student loans before interest starts

[–]Code3LI 0 points1 point  (0 children)

29/m in NY. $45k year in local government. Around $3k-$5k from side business.

I want to... Max out IRA Increase savings by $12k by EOY Keep adding to Deferred Compensation Get more clients Distribute more of a supplement Help wife get better paying job Make a push to get an at work upgrade... this has been a nightmare Plan to get a home by 2019ish Stay debt free (no CC debt as of today, car is paid off)

[–]king_of_steel 4 points5 points  (0 children)

34/m, single, software developer, 86k/year income, living with father and brother who are both disabled, no high interest debt

2017 accomplishments:

  • discovered /r/personalfinance and /r/financialindependence
  • sold townhouse for $40k profit
  • created 6 month emergency fund
  • paid off all student debt
  • opened and maxed out Roth IRA
  • maxed out HSA
  • increased 401k allocation to 10% of my paycheck

2018 goals:

  • max out 401k
  • max out Roth IRA
  • max out HSA
  • reduce spending such that I'm saving/investing $2,000/month consistently
  • open brokerage account
  • invest at least $12,000 ($24,000 ideally) in brokerage account
  • increase income through raise and/or supplementary income streams

[–]RagaKat 3 points4 points  (0 children)

  • Get better paying job or get into grad school. Pick up side job as well, already have something in mind.

  • Raise credit 100 points- take care of derogatory mark and get secured credit card and put gas on it monthly.

  • Make emergency fund

  • Pay off at least 4 of my 6.8% loans (around $4k) and stay current on all other loans.

[–]ScrubWearingScrub 3 points4 points  (0 children)

24, cohabiting with boyfriend, 60k/year. Pay off remaining 15k in student loans. Help boyfriend get into the right mindset to start making a dent in his 150k student loans.

[–]MrMcJrMan 2 points3 points  (0 children)

Early 20s, working 100k/yr income, high CoL, no debt.

My goal this year is to reduce my food budget, I went out to eat too much last year and ended up spending just over 10k on food in 2017.

Trying to reduce it to 7500, so I set up my Mint budget for $625/mo. Hoping to end the year well below that! About to spend a lot more time at the grocery store.

[–]pauwerofattorney 2 points3 points  (0 children)

33, Single, $86k 2017: Didn't make a goal, got into more debt 2018: Pay off ~13k in credit cards, establish savings account

This is all to set up getting on top of six-figures of student loan debt that I'm currently paying less than the interest on (IBR).

[–]iGoWumbo 0 points1 point  (0 children)

Interest rate is 5%. It was my first real loan + I opted to not have a cosigner. My credit union and other bank offered me 18% and 12% respectively, so I feel okay about 5%. The interest over time won’t kill me, but I want that payment off my plate while I can still live at home. Once it’s paid off I’ll feel more comfortable moving out.

[–]killacross4479 8 points9 points  (5 children)

Male, 32, married 6 yrs, ~$90k/yr and ~165k/yr household

I am a HUGE Dave Ramsey fan as he helped me tremendously...got my wife on board ~6-7 years ago and we have been killing it ever since

2017 *Debt free since 2013 *Give/Save/Spend *Bought our first home (100% down!!)

2018 *Get pregnant with child #1 *Get emergency fund back from $25k to $50k (it is overkill...but it helps me sleep at night) ($25k) *Get Professional Engineering license *Purchase a newer car (my transmission died on my last one after 300k miles) (~$15k) *Get new position with local company so that I don't have to travel for work anymore *Few home improvements (~15k worth) *Start building a wood/fiberglass ply-on-frame boat (~$15k total) *Give/Save/Spend

[–]4Runner_Duck 1 point2 points  (1 child)

Congrats! Live like no one else, baby!

Any tips for saving up to buy a house in cash? I want to do it this way, but the housing market in Portland seems to far outpace the ability to save up for a 100% down.

[–]killacross4479 2 points3 points  (0 children)

4 Tips. YMMV.

Tip #1: Make a plan - "By ___ date, I'm going to have ____ saved."

Tip #2: Have a system to track your financials...Iunno, but when I actually saw the numbers, it did something to me.

Tip #3: Have patience.

Tip #4: Don't share with others.

About #1 - Honestly, getting out of debt was A LOT more fun and rewarding and fulfilling than growing net worth. But having the positive balance is a lot less stressful. Highly recommend it!

About #2 - A sad story...I had an excel spreadsheet where I tracked my/our finances monthly. It was a very simplified overview. A debt tab, speding tab, then a net worth tab. We watched it go from -40K in debt to 0 to XXX,XXXk+. Last year, I told my wife..."You know, I really should make this a google spreadsheet or at least email myself a copy"...and then 2 days later the file corrupted. Years of information gone (since 2010)! I took a few days to grieve then made another spreadsheet (that was streamlined because over the yearsa, I got new ideas on tracking money and investments and always just added to the sheet - it became very "busy"). The new version has am income tab, a spending tab, an investments tab, a net worth tab, and graphs for each. I like to track the specifics...my wife likes the graphs when we discuss money every month.

About #3 - Patience is key. Period. You do not get out of debt quick. You do not save quick. You do not invest quick. You do not get rich quick. But if you do smart things...you WILL be amazed how fast it happens.

About #4 - In all sincerity...PREPARE YOURSELF FOR THIS NEXT PART. It's going to get negative.

What I have learned - DO NOT SHARE YOUR PLANS/SUCCESSES/GOALS WITH FAMILY OR FRIENDS OR COWORKERS. They can be so F-ing demoralizing and regardless of what they say, they WILL get so jealous of your successes. I had in-laws openly mock me for not buying a new car every 2 years. The other in-laws offered to co-sign for me "since I obviously NEEDED the help". My parents mocked me for not knowing how the world or money works (though they never taught me!). My sibling mocked me for living in a fantasy (0 credit score, no debt). Coworkers always had snide remarks about "He doesn't NEeeeEEeeeD that bonus, he doesn't NeeEEEeeD that over time, etc...he has no bills) and putting my business out there. I had friends that would ask me to borrow money immediately after I just sent them some cash as a gift and then the psychological blackmail that follows. When I was FIRST winning financially...I shared it on another forum with people I had interacted with for years. The response was basically them trying to prove how much smarter they were than me at every turn. So in the end, when you start having successes, you WILL want to share. Either fight the urge or find a group that encourages you to continue the path (fighting the urge is the easier option). When others complain about money and their financial situation...just say the obligatory "Man, I hear ya - it's rough out here."

TL;DR: Control Spending. Save with a plan and $ figure in mind. Have patience and don't give up. Ignore others' negativity.

[–]jaroper 3 points4 points  (2 children)

Way to go! Fellow Dave Ramsey fan here. Congrats on paying for a house with CASH MONEY.

Also, I just got my PE in 2017. Took it in October and found out I passed in early December (ME-HVAC/R). If you'd like any study tips, let me know!

Good luck this year. You'll be in my prayers.

[–]killacross4479 1 point2 points  (1 child)

I am going for the Bio/Ag PE. I got my BS in Bio Engineering. Got my EI with the general version (they didn't offer a Bio/Ag version when I graduated - and the PE in this discipline is actually pretty new). Truth be told...I plan to try my best buuuuut expect to fail the hell out of it. Besides a list of reference materials, they don't have ANY good prep material (practice tests/study guides). I don't know what to study or even how to right now. The professional society practice info is just 4 hours of course reviews. It reminds me of the concept, but doesn't bring back the skill set to use the charts and tables. The test is only offered in April, so 2019 may be my year.

The people that I know that passed said it was easier than they expected (and they were fucking idiots in school!). It has something like a 72% pass rate though.

Hope I can at least be average!!

[–]jaroper 0 points1 point  (0 children)

Interesting... I went to the University of Georgia (GO DAWGS this Monday night) and got my degree in Ag. Engineering. Took the FE General Exam as well. I got out of school and landed in the energy/sustainability/mechanical world (hence my mechanical PE).

Have you checked out PPI or School of PE? I did a quick look at PPI and didn't find anything immediately available, but if you get in touch with them they might be able to give you something...at least some direction. Maybe even get in touch with NCEES as well. I can imagine that anyone who is intentional enough to save cash for a house will be intentional about studying and passing the PE. I think you'll be fine as long as you can find a little direction. The test wasn't as challenging for me and the practice tests and problems I worked. Good luck and try and have fun studying!

[–]husla67 0 points1 point  (0 children)

28, Married (two kids), $150K (mom takes care of the kids), no debt outside of two car payments (~$28K, ~$700/mo. one is interest free, other is at 2.9%)

Didn't post here in 2017, but the goal for that year was to pay off my wife's student loans, which we did!

I work for an apartment developer and will be shifting into a new role as a special projects specialist. Bonus time was good to us so we were able to max out our tax advantaged retirement vehicles and build up a comfortable emergency cushion (only had ~2 months saved before). So for 2018 I'd like to start saving for a home. We'll need around $40K for a down payment on a house, I'm hoping to get around 50% of that in 2018.

[–]savesthedaystakn 2 points3 points  (0 children)

30, Single, 60k/year

2017:

Paid off 12.5k in student loan debt.

2018:

Become debt free (including student loans, car, and motorcycle) and start saving a healthy e fund while massively increasing contributions to my deferred comp plan.

[–]yolibrarian 4 points5 points  (0 children)

31, librarian, made some big money mistakes but fixing them now.

2017: I started reading PF and even without posting I felt like I got a swift kick in the ass. I created a monstrous spreadsheet for my budget and started tracking all my money with my end of February paycheck. I got a handle on my debt and was able to see exactly what it was, and paid down almost $8500 of it. I also showed my SO this budget, which was nerveracking--I was so embarrassed. But he's supportive and helping me stay on track.

2018: I want to pay off my car (4 more months!), reach 5 figures in my 401k (I'm about $200 away right now), and slaughter my $13k credit card debt. I'm in the process of snowballing now and have gone down from 7 cards to the remaining 3 (one of which from a balance transfer card). I'm already throwing $800 at it a month (I get paid monthly) but once my car is paid off I'm devoting all of that--plus extra money from my promotion-related raise--to getting rid of it all. Into the future, my SO and I plan to start 2019 off engaged and I want a clean slate for us while we plan our wedding.

[–]frenchfriedtatters -1 points0 points  (0 children)

Turning 30 this year. Oh boy...

2017

  • Made 63k/yr
  • Wiped collections
  • Raised credit score from 630's to 750's (per CK & Mint)
  • Negotiated Lease to Own. Goal was to keep car payment around 200. Settled for 207.
  • Surpassed $10k savings goal in Ally Savings by Octoberish. Sitting at $14k now, with $2.1k in Wells Fargo.

2018

  • Due for a raise. Hoping for $70k. This will be the most I've ever made.
  • Wipe CC debt. of just over $2k. Spread across 4 cards, all with no APR (I opened 2 cards last year that hold the majority of the balance. Capital 1 had a 1yr deal with no APR. That will be paid first. Other is Citi Diamond with the 0% APR transfer for 21 months. That's on track to be paid off by May/2019)
  • Get FICO score to 720-750. I'm tracking this with the Wells Fargo website. I'm more/less just trying to be conscious of my credit score for 2020 when I plan to buy my first house.
  • Potentially refinance my auto loan for lower APR.
  • $5500 to IRA
  • Get to at least $27k in Ally and $5k in Wells Fargo.

Yup, that about does it. Best of luck to all in their financial endeavors!

[–]thepolan 0 points1 point  (2 children)

Early 30s, married

2017

  • Paid off $10k in student loan debt

  • Purchased a new home

  • Studied for and took tests to obtain professional licensure

2018

  • Secure raise from recent professional license achievement

  • Purchase our next rental property with <100k mortgage

  • Save $3000/month into post-tax savings account/brokerage

  • Increase 401k deferrals to the maximum

  • Establish a business a minimize real estate taxes

  • Begin education in software/computer science in order to advance

[–]Duzand 0 points1 point  (0 children)

I recommend checking your official credit reports, as part of your goal to increase your FICO.

[–]ChronicKey 0 points1 point  (0 children)

Congrats on passing your P.E. exam and obtaining license!

[–]HomeownershipIs_____ 0 points1 point  (0 children)

Mid 30's, DINKs:

2017: bought first home, eliminated CC debt

Priority goals:

  • Max out IRAs
  • Get engaged, buy ring in cash
  • Bolster emergency fund savings by $10K

Secondary goals:

  • Extra quarterly payments towards car loan
  • Take first vacation in three years (paid in cash)
  • Plan, budget, and save to build back deck in 2018

[–]HomeownershipIs_____ 0 points1 point  (0 children)

Mid 30's, DINKs:

2017: bought first home, eliminated CC debt

Priority goals: * Max out IRAs * Get engaged, buy ring in cash * Bolster emergency fund savings by $10K

Secondary goals: * Extra quarterly payments towards car loan * Take first vacation in three years (paid in cash) * Plan, budget, and save to build back deck in 2018

[–]permeusvita 5 points6 points  (5 children)

28M, $67k
*Finish up negotiations for new position, pay bump to $77-80k
* Take savings from $0 to $20k by EOY
* Max out Roth IRA for 2018
* Successfully finish funding vacation fund to Peru for the summer
* Pay for ring in cash
* Propose to GF with ring in Peru

[–]paladyr 1 point2 points  (2 children)

Get a cubic zirconia ring

[–]permeusvita 1 point2 points  (1 child)

Actually avoiding the diamond route altogether and getting a tanzanite ring. She served in Peace Corps Tanzania so that country means a lot to her, so I'm sure the stone will resonate with her as well!

[–]paladyr 1 point2 points  (0 children)

That's baller!

[–]semc44 2 points3 points  (1 child)

that was a rollercoaster

[–]permeusvita 0 points1 point  (0 children)

Hah, I've been told if I ever quit software, I should take up writing short stories.

[–]iGoWumbo 0 points1 point  (1 child)

23/M I graduate from college in June and will start my first salaried job right after. I have no student loans, but I bought a new car this year since I commute ~120 miles each day. I want to start paying 3x my normal payments (no penalty for paying off loan early) to chip that thing down so I can fully pay it off with ease in 2019.

Other than that, I want to start being a little more involved with investing and also open an IRA. Having enough to fully contribute to it might not be possible due to the above goal, but still, I have to start somewhere.

[–]husla67 2 points3 points  (0 children)

What's the interest rate on your car?

[–]bossleadinglady 2 points3 points  (0 children)

Cash only in 2018. Getting out of credit card debt seems too ambitious for 12 months, but switching to debit and cash only seems completely doable. (Famous last words?)

[–]cologstrio 1 point2 points  (0 children)

32/M no kids $38k/y (after taxes)
1. Pay off a $2,700 credit card
2. Pay off $2,500 remaining on auto loan
3. Pay off $3,300 personal loan
4. Pay off $875 that remains of my student loans
5. Cut take out food costs drastically by meal prepping
6. Track every expense all year
7. Create a $1,000 emergency fund

[–]Khayembii -1 points0 points  (0 children)

  1. Pay off $1,900 cc and $3,000 personal loan from parents this month.

  2. Save up an aggressive e-fund, targeting $25,000 by year end.

  3. Once my e-fund hits $15,000, stop saving so aggressively and learn to live a little!

[–]2boredtocare 0 points1 point  (0 children)

43F, married, two kids, both spouse and myself working, making $155K annually. Paid off my car in 2017, bought our second house. Had a few unexpected things happen (replace our second furnace in 18 months), car window shot out, family member sick from cancer, needing some financial assistance. We have no big purchases left to make, and now it's all about paying off debt, and increasing 6% contribution to retirement to ?? 10%? SO also has a pension.

  • I plan to not use the credit cards at all this year.
  • Will pay extra each month toward balances; all but one should be paid off in full by year end.
  • Save $100 every payday for trip in Spring of 2019.

[–]OverlordWankershim 0 points1 point  (0 children)

27M Single No kids

  1. Finish paying off all my credit card debt
  2. Replenish my emergency fund: 5k 3.start saving for a house down payment: 10k
  3. Break the paycheck cycle
  4. Get more serious about investing

[–]Hildevdb801 1 point2 points  (0 children)

22/F, Student.

2018 Goals:

  1. Stop eating out for lunch, bring my own instead. Meal prep.

  2. Get my emergency fund up to 2.5K or 3K by summer

  3. Start making a spreadsheet for moving expenses so that I know the financial hit to expect once graduating and moving in to my own place. Most moving expenses will come from my emergency fund.

[–]chozar 0 points1 point  (0 children)

35/M, Working

2017

  • Paid off the last of my Student Loans ($2500 remaining from original $14,000)
  • Maxed my 401(k) and IRA for the first time

2018

  • Max out 401(k) and IRA again, but also max my new HSA as well
  • I have a small amount of 0% CC debt ($3500) due in June, and I don't want to pay a dime in interest
  • I also want to build up my 2 month emergency fund to 3 months

This is all a very tight squeeze, not sure if I can do much beyond that. But one other goal is to go back a few months and find out how much I spend on everything and find areas of improvement. I have $3000 saved for a down payment on a home, and at this rate I'll never get one - I need to cut spending or increase income to get to that next level.

[–]ggirl2792 1 point2 points  (0 children)

25/F

2018 Goals:

*Stick to monthly budget

*Reduce eating out by 50%

*Save $5000 for emergency fund

*Invest in myself to grow consulting business

*Take salary from 60K to 75K

[–]SinghisBlingHoney 0 points1 point  (1 child)

33M married no kids

  1. Hit $1M in net worth up from 700K

  2. Invest at least half of the 200K cash reserve into ETFs

  3. Cut down annual food cost from 10K to 7K

  4. Plan better to save taxes

[–]husla67 0 points1 point  (0 children)

It seems like you're hitting the point where you could benefit from professional tax planning, have you looked into it at all?

[–]ThatAngryTortoise 1 point2 points  (0 children)

25/M

  • Be CC debt free by my birthday next year (January, which will also be the last payment, if all goes to plan). About £8,200
  • Break the paycheck cycle
  • Build up an emergency fund of about one month of expenses to start with (about £700)
  • Track and successfully keep a tight budget (this will only aid point #1)

[–]frestyle 1 point2 points  (0 children)

30M, single, I earn around $208K base.

2018 goals:

  • Max 401k

  • Increase emergency fund to 12 months expenses

  • Save for car purchase

  • Reach financial independence goal of $1.25MM

[–]RocketMarauder 0 points1 point  (2 children)

My 2018 financial goals are:

Obtain more assets through investing, I’m currently at 35k, I would like to be at 50k at least

Have a side income

Pay off a 2400 credit card bill, it’s 0% interest until next year, but I want to pay it off as soon as possible still.

Max out IRA

Increase 401k contributions

[–]benjaminikuta 0 points1 point  (1 child)

Obtain more assets through investing, I’m currently at 35k, I would like to be at 50k at least

Are you familiar with the efficient market hypothesis?

[–]RocketMarauder 1 point2 points  (0 children)

Yes, I have. I plan on investing into pretty conservative, diverse index funds which has stocks and bonds. I think most of the increase in value of my investing portfolio would come from what I put into it.

[–]Nuntiak 0 points1 point  (0 children)

2018 Goals:

*Pay off my car. $2000 remaining, on track for April ‘18

*Grow my Vanguard to $10k

*Start saving for a down payment. Goal: $10k

[–]CatBec 1 point2 points  (0 children)

I'm 24, working part time, studying part time. Absolutely hopeless with money. I have 2 CC's and a car loan. I earn approx $40k a year.

My goals are: Build an emergency fund Refinance and pay off a significant chunk of my CC debt ($9000 total) Stop living pay check to pay check. I'm going to start tracking every cent I spend so I can see where I'm bleeding money. A big thing I want to do is a balance transfer on my credit cards or to refinance them into a personal loan to minimise the interest I'm paying (1 card has a 21% rate, the other 13.5%). Once I have an emergency fund, I'm planning to open a high interest savings account to get a start on saving for the future (house, family etc). But getting my CC debt under control and not living pay check to pay check are the main goals for now

[–]s31m0n 2 points3 points  (0 children)

2018 Goals:

  • Start CC churning
  • Save around 3k for my friends' wedding in Hawaii in August '18
  • Have an Emergency Fund of $1500
  • Max Roth in 2018 ($5500)
  • Lower my monthly personal expenses by going/eating out less
  • Subtly guide my family on how to be active with their own personal finance (it's a challenge)

[–]benjaminikuta -1 points0 points  (0 children)

I'm really glad I don't have to worry about the little things...

[–]perpetuallyhuman 0 points1 point  (3 children)

26F, single. Spent 2015-2016 being laid off, subsequently traveling and then learning to code. Now a software dev making $107k/yr since May.

This year I will fully recover from 2 years of spending almost exclusively.

  • Pay back $5k my mom lent me for a tuition deposit
  • Finish paying a minor loan I took during the program (only $600 left!)
  • Max Roth for 2017 (3k left) and 2018 ($5500)
  • Replenish cash savings/e-fund (now ~$6k, want $15k)

All this should bring my net worth to $50k or more, just over what it was before life got crazy. Stability!

Also relevant:

  • Don't give stupid Lyft so much of my money
  • Stretch goal: 5k or more into my mostly empty spare Vanguard account -- to save for my next round of travel :)

Best of luck crushing your goals, y'all!

[–]MikeCharlieGolf 0 points1 point  (2 children)

Wow, congrats on getting your development job! I've been slowly picking up coding, but I'm pretty intimidated by going through an actual technical interview for dev job. Any tips on what to study to get through a coding interview?

[–]perpetuallyhuman 1 point2 points  (1 child)

Yeah, it's a huge pain and unfortunately interview skills != job skills most of the time. I think the biggest thing is to practice the coding-on-the-whiteboard process, talking through solutions with someone as you write them (ideally who has some idea what you're talking about). HackerRank and the Cracking The Coding Interview book are good resources for questions.

Some companies now also include hands-on projects in their interviews, so worth practicing banging out small projects (a clock, a Twitter client, whatever) at high speed to get practice with that.

Also, be nice, human, real with your interviewers. Tell them what you care about and how you like to work. It'll make it easier for them to gloss over technical hiccups when evaluating you.

Best of luck!

[–]MuppetManiac 1 point2 points  (0 children)

We’re paying off the house in October! Woohoo!

[–]Ayanka88 0 points1 point  (0 children)

29/f/about 30k€ before tax should be about 21-22K after tax (Belgium)

Goals for this year: - pay off 20 k of the mortgage - pay off whatever is remaining of my boyfriends debt - finish renovating my house

[–]DreamIt_DoIt 3 points4 points  (0 children)

2017: (Pretty Much a Fail) Yearly Income: $15,000

*I began to really budget and cut down on costs. I had progress in paying off my credit cards, but ultimately at the end of the year I added an additional $2,000 ending 2017 with total cc debt of $6,000. Blehh. This was due to having inconsistent income (living above my means).

2018: (Looking good!)

*I start an entry level job with a salary of $34k. Finally making some money. I cut down on living expenses by 80% by moving in with my partner.

Goals:

*Save $1,000 emergency fund

*Pay off the $6k in cc debt by end of May.

*Start paying my student loans ($31,000)

*Start saving $5,000 for a used car (end of year goal)

[–]t541030 2 points3 points  (1 child)

Before posting 2018 I want to quickly review 2017

  • Bring lunch to work at least twice a week instead of paying for the cafe everyday - done, while not necessarily a giant cost savings, this was fairly easy to accomplish and I'll certainly continue in 2018

  • Continue to increase contributions to 401k/Roth after salary increases etc - Didn't change my contribution %, but I was able to make decent contributions with excess savings from my monthly budget

  • Start budgeting out for medium term expenses (wedding, house) - while I continued to save, I haven't necessarily gotten around to earmarking that money for the aforementioned items

2018 Goals

  • Continue to save for medium term expenses, more specifically a house downpayment

  • Get promoted at work to increase salary

  • Continue to make reasonable crypto currency purchases (I've done quite well with BTC over the past ~2 years or so)

  • Not necessarily a financial goal, but continue exercise and daily yoga

[–]tu_che_le_vanita 5 points6 points  (0 children)

Note - exercising and staying healthy is one of the best things you can do to protect your financial future.

I realized recently that I began working out the same year that I began saving for retirement. A very long time ago, probably before you were born.

[–]OSUBonanza 1 point2 points  (0 children)

My wife and I have been saving for a house for about a year now. With any luck we will have the 20% down payment by June. Beyond that I’ve committed to regularly contributing to my 401(k) and Roth IRA to get retirement on track.

I’m on the verge of 30 and suddenly the future doesn’t seem so far away, time to make sure we are going to retire comfortably,

2018 Goals: 1) Purchase a home 2) 1x annual salary put away for retirement

[–]Botboy141 1 point2 points  (0 children)

33m, working in a fun industry (going into my 3rd year in my current role). Expected income for our family of 3, based on my 2017 W2 (I'm the sole provider) is 95k. Through an increase in salary, commission and bonuses I'd like my W2 to be $130k+ for 2018.

1.) Increase income to $130k W2.
2.) Make $15k through various part time ventures.
3.) Pay off the last 12k in unsecured debt (down from 60k in 2015).
4.) Build a healthier emergency fund of $15k+ by the end of 2018.
5.) Manage my PTO better (no rollover and I had 2.5 weeks unused this year).

[–]abb_ 2 points3 points  (0 children)

22/F/working (graduated from college this past June)

I didn't know about last year's resolution thread, but if I had I definitely would have posted in it because my resolution was completely inspired by this sub. My goal was to become more financially responsible and be able to save to travel some this past summer. I set up a budget and (mostly) stuck to it, successfully traveled, became financially independent from my parents, and paid off $5000 of credit card debt.

For 2018 I want to save a $5000-$6000 emergency fund before fully paying off my biggest student loan of $8000, which also has the highest interest rate.

[–]BlackDS 3 points4 points  (0 children)

23M, RN making about $51k/yr. I'm still going to school for my BSN, so my goals for the year include:

Keep paying for my BSN, approximately $450/month.

I just opened a Roth IRA and put $2,500 into it for tax year 2017, so my goal will probably be to Max the 2018 contribution limit.

Max my HSA, although I prefer investing into my 401k and Roth IRAs since my HSA doesn't have target date funds.

Transfer within my hospital to a higher acuity unit, such as the ICU, this is purely for career prospects since I hope to be a Travelling RN by age 25. With a BSN, two years of ICU experience, and no debt, I should be able to land travel gigs in California while living on the cheap (in an RV, renting out a monthly hookup site, driving my dinghy Miata to work every day), and I'll pocket a good bit of my income.

[–]hustlehardest 3 points4 points  (0 children)

25M, made 48k total in 2017 working a full-time job at a medical lab and working at a breakfast restaurant on the weekends. My three biggest financial accomplishments this year were maxing my 2017 Roth IRA, giving myself a nice vacation after not having been on a plane in twelve years, and buying myself some nice and useful furniture and clothes after never having either of those things growing up.

Goal 1: Max my 2018 Roth IRA, plan to do that around the end of February

Goal 2: Pay off my 2014 Nissan Sentra, about 11k on this one

Goal 3: Move closer to my job, currently live at home an hour away and it's taking a toll on me mentally

Goal 4: Take a nice vacation during the summer. Never been out of the country and I think this is the year to do it

Goal 5: Attain a position at a better job. Will be hitting two years in June. I'll be getting a pay increase from $22.50/hr to ~$24/hr, but I'd like to try another company and would like to make more than that.