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ArchivedModerator of r/personalfinance

What are your 2018 financial goals?

Let's hear about your 2018 financial goals and resolutions!

If you posted your 2017 goals on the resolutions thread from last year, include a link and report on how you did.

Be sure to include some information on your overall situation such as the steps you're working on from "How to handle $", your age (approximate age is fine!), what you're doing (in school, working, retired, etc.), and anything else you'd like to add.

As always, we recommend SMART goals: Specific, Measurable, Achievable, Relevant, and Time-bound. Don't make unrealistic or vague resolutions.

Best wishes for a great 2018, /r/personalfinance!

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Wiki ContributorModerator of r/personalfinance, speaking officiallyScore hidden · 8 months ago · Stickied comment · edited 8 months ago
level 1

25 year old Contract Administrator. Salary is 48K. Boyfriend makes $65K as an engineer.

My goals for 2018 are:

  • Buying a house in May/June ($7500 down-payment)

  • Bulking up our emergency fund to $16K by December 2018 to cover more time since a mortgage requires a larger emergency fund. Our mortgage payment will be about $1600.

  • continue doing meal prep every Sunday (a behavior that helped us save enough money for the down payment in the first place)

  • Begin a fund for Home Improvements in YNAB.

  • Learn how to invest in something other than my 401k.

YNAB has totally changed our financial situation since starting in Nov 2017, and I am super excited for 2018. We no longer stress about money.

level 1


Save $4000 for a car

level 1

Saving for a 20% down payment and getting engaged. Perhaps some of the most expensive firsts as a 23 year old. Should be an exciting year :)

level 1

Right now I am approximately 26k in debt (~21k student loans, 3k credit card, 1.5k medical debt, and ~500$ ish of mosquito stuff). By the end of this year, I plan on having that paid off, a 6 month emergency fund, and be maxing out my roth 401k and roth IRA.

I also want to earn some amount of money outside of my job, specifically as a passive income stream. Since I am a data scientist, who is also not bad at being a developer, I want to make profit earning web-apps or mobile apps. My goal for this year is just 1k extra. I care less about the money and more just motivating and risk taking.

level 1

I am in my early 30s, and work as a teacher.

*My first goal is to understand my spending habits, through tracking. I created a comprehensive budget that contains all my bills, student loans, etc. *My second goal is to have 7-10 thousand in savings for the future. *Finally, I want to pay off a $3,500 student loan, that I took out during grad school. After that is paid off I want to pay another loan for $4,500. (I have many more student loans and am currently figuring out whether teacher or public service loan forgiveness may work.)

level 1

24, M, 31,500 Salary

2017 Goals Start a savings Have 1000 in savings Pay off credit card debt $2,000

2018 Goals Increase salary at a minimum of 20% Have 5000 in savings Pay off first student loan (1500)

level 1

I want to establish good credit. 633 25/M. Freelance. 1k Debt. Just payed off 2700k this year. I want to establish investments that bring gain. This is my first time having a chance to do things right. I just want to start now. Any help is great. I don't have good financial help. And REDDIT has been a savior so far. So any help is greatly appreciated

level 1

I'm about to be 36, my wife 34. We both live with my parents for a year and a half after marriage. I recently (December) got a good job again although it's only contract for now but highest paying I've ever done. Our goals are:

  • Catch up a bit on savings/investments. We have about 20k liquid saved up, 115 in investments/retirement.

  • Possibly move out and buy a townhouse/condo or look into renting.

  • I may need to buy a new car this year, so that's kind of a goal for me as mine is beginning to cost me more than I'm getting used out of it.

level 1

25/m 24k with a nonprofit, ≈35k student loans, ≈3k across 3 credit cards 2018 goals:
Get on IBR Plan for student loans
Pay off at least 2 of my credit cards
Start a savings account with at least $1000 in it.
Cut back spending while traveling for work.
Meal prep when I'm staying in town

level 1

Financial resolution for the recently-new year: I will not spend any money on fast food and junk food. Flushed hundreds down the toilet on this stuff last year. That needs to change.

level 2
level 3

Just subscribed to that subreddit. Thanks for the tip!

level 4

Sure thing!

level 1
1 point · 7 months ago · edited 7 months ago

29/m, 85k with the federal government, no debt

2018 goals:

  • Complete additional education requirements for next $15k raise

  • Combine $75k in savings to $25k in TSP or place in a Roth IRA

  • Pay off $9K loan on my beamer within 36 month term or sooner

  • Consider moving closer to a major metropolitan area

level 1

27 | 123,000/year, ~80,000 net (live in NYC) [less than 1 year at this, previous 30-60k]


  • Retirement - 70,000

  • Other investments - 40,000

  • Savings (emergency + down payment) - 33,000

  • Debts (CC paid off each month, student loans at 0% interest) - 4,500

  • Spending habits: ~2,000 regular/month, plus non-monthly spending = ~30,000/year

Goals this year:

  • Buy a rental property (in Pittsburgh, about $130,000 with $26,000 down payment and $10,000 other costs)

  • Get a new job actually in city (currently work in New Jersey, costing me an extra $400/month and need a new car for it), ideally for same salary or more (with cost savings and life improvement being biggest benefits)

  • Get a new apartment in the city (current rent is 910/m) - hoping for something closer to midtown, likely will raise to 1100/m (again, hopefully cost savings from new job will make up for this)

level 1
1 point · 7 months ago

Hey, I am a sophomore college student, studying Comp Sci (19m), who has never really kept track of his finances. I've never been a big spender, nonetheless, I thought this would be a good year to start saving, even if it's just a small amount. Also, I'm not entirely sure what I want to save for... emergency money, mini-vacation with my SO, new laptop, etc. It's open right now. I'll save for at least a year and see where I go from there.


  1. Save $100 a month, starting this month, by auto-depositing into a higher interest, savings account with an online bank. I'm open to increasing that amount to $150-$200 in 1-2 months if I get hired for a better, higher-paying job I just interviewed for.

  2. Currently, I am receiving Pell Grant which covers about 90% of my tuition. As you many of you probably know, college expenses go way beyond tuition costs! I am planning on applying for several smaller, state-scholarhips and see if I can cover some of my rent costs. Student Direct Loans are an inevitability as I roll into my junior year and my small college savings depletes, but I defintiely want to cut down on the amount that I borrow.

  3. This past month (January), my SO and I have made small strides in budgeting our food money. Our average for groceries has always been healthy and decently priced (I think). We each spend ~$35/week (~$280 monthly total), but our main goal was to spend less eating out. Lately we've been cooking larger quantities for dinner and saving the leftovers for the next 1-3 days. This month we spent a "whopping" $25 eating out, as compared to previous months where we often spent over $150.

  4. Lastly, I am walking and taking the bus more often to school. My gas spent in January was $54, as opposed to my 2017 average ($70). Let's if I can keep this up for the rest of 2018!

level 1

Late 20s, $56,000/year Goals for this year:

  1. Pay off at least $6,000 worth of credit card debt

  2. Buy a new/bigger bed using cash I've saved up. Right now there 2 people sharing a 10 year old full sized bed

  3. Apply for a promotion at work once I'm eligible this fall

level 1

24m, about 30k a year

  1. Purchase a car

  2. knock off student loans

level 1
2 points · 7 months ago

24, 30k yr, Graduate Student with good funding (very rare)

Goals for this year:

  1. Save an additional 9000 dollars

  2. Pay 1200 dollars on my unsubsidized student loans (100/mo)

  3. Do better staying in my grocery/food budget (280)

  4. Become worthless - lol. Woot woot

level 1

28m | $99k/yr | 3.5 yrs in to 1st job out of grad school | have $11k emergency fund (8-12 months), $8k savings for new car when current '01 explodes | contributing to 401k and getting 4% match

$ Goals for 2018:

  1. pay off remaining $18k student loans (~4% int) by September

  2. become a better cook/meal planner

  3. open and max out an IRA for 2018

  4. donate time and money to charities I identify with

  5. choose local businesses when possible

  6. keep my fixed monthly expenses limited. currently $500 for rent, $50 for cell, $35 car insurance, $15 for internet, $11 for Spotify

  7. chip in on younger brothers' student loan payments

  8. ride bicycle for all trips <5 miles and as many of the longer ones as I have free time for

level 1

27, Male, College Dropout but i'll start again and finish this year. My goals, in order:

  • Reduce my spendings with eating out, subscription, bank taxes

  • Start using YNAB diligently

  • Clear my loan with the bank (not college loan)

  • Have a 1 month emergency reserve

  • Have a 3 month emergency reserve

After that: Have a my first good night of sleep in years

level 1
  1. Finish my 3mo Emergency Fund

  2. Open a Roth IRA and Max it Out

  3. Up my 401k contribution to 12% (currently 10%)

  4. Decrease monthly expenses (transportation/eating out expenses)

  5. Get a 10k-15k bonus at work + a promotion (5K+ salary bump)

  6. Start a House Down Payment savings account

level 1
4 points · 7 months ago
  1. Save up 3 mo emergency fund (halfway there!)

  2. Save money for Christmas presents throughout the year, and then don't go over the amount I've saved come Christmas time

  3. Plant a plot at the community garden to grow my own vegetables

  4. Begin saving up money for probable apartment move in July 2019

level 2

Oh man I never really thought about getting such a gracious headstart on christmas. That might be a good idea, throw some money into a savings account once a month (Like $50-$100) and you end up in december with $500-$1000.

level 1
1 point · 7 months ago

I hope to save money to visit my best friend again for this winter. I took the chance in spite of my mother's petition not to, and it was worth every penny to do so. I know that I overspent when I was there, so I use a separate account to place my spending money for this trip.

level 1

24/F 40K/yr with no debts working since March of 2017. I'm responsible for cost of food + apartment upkeep (cleaning supplies, etc.) and my $390/mo train ticket but not rent. I know I'm getting a promotion and a raise but I won't know what it is until Wednesday.

My goals are:

  • Save up at least 3 mo emergency fund

  • Start contributing to 401k

  • Spend less on makeup

  • Start investing

  • Close my discover student card (my dad is still on the card...) and get a 'grown up' credit card with a limit of more than $500. I hate being penalized for using credit when I'm really only using a small amount in dollars.

  • Survive my first time filing taxes

  • Figure out just how cheaply I can have a wedding

  • Make sales on my art prints

level 2

Consider removing your dad from the card and keeping it open, if it has no annual fee, because age of average account is a factor in your credit score.

Congratulations on the wedding!

level 1
2 points · 7 months ago


  • 250k net assets

  • Find a cheaper apartment

  • Max out girlfriends Roth IRA and 401k

  • Donate to a person a week on

level 2

I've never heard of until now, that's an awesome financial goal!

level 1

Goal this year is to save 10K for emergency fund. i make about 5K a month take home. Rent is 1275 per month, utilities average 400 a month, car note is 370, groceries 230. Realistic? again these are averages. im sure i spend a few more bucks.

level 1

18M, I hope to move out of home after a fallout with family asap. In doing so my goals will be simple. (I already have work so yay!) 1)become completely financially independent and 2)save up to go back to college.

level 1

Get organized financially

I am going to make a plan for this so I can slowly chip away at it over the year. There are a few main problems that I am going to try to resolve here. So to break it down a bit more, I have way too many bank accounts. Over the years I opened one for the savings rate, another one since it was mandatory when I got my home loan, and the list goes on. Now I have money shuttling between the accounts and autopayments managing my bills. The problem is, if you asked me which specific account paid what bill, I would have no idea. I need to get my accounts in line, revise my auto-payment scheme, and close some accounts.

  • Jan-Feb: Figure out who gets paid when, and from where

  • Mar: Decide what accounts to keep and which to get rid of

  • Apr-May: Change where my salary is deposited and where my auto payments are made from

  • Jun-Jul: Monitor the changes to be sure everything is working properly

  • Aug-Sep: Close unused accounts

  • Oct-Dec: Breath easy knowing my financials are in order

Prepare for renewal dates This has always been a problem for me. I have moved quite a bit during my adult life and with that comes changing my address… something I have not been so good at. So inevitably, I missed a notice here or there reminding me that my insurance was about to expire, or that a professional license renewal date was coming up. It wasn’t until I got pulled over on the road by the police, or until I needed to show a copy of my license for work that I realized I had lapsed. By then, unfortunately it was too late and I had to pay financial penalties for both. So, this year I am going to get things in order.

  • Jan-Feb: Figure out when yearly payments are due and how they are paid

  • Mar: Create a spreadsheet to have a tracker I can refer to so I know when each annual deadline will fall

  • Apr: Add these dates to my google calendar so there will be an electronic reminder as well

level 1

My financial goal of 2018 is to make $100,000 in profit from a business that I have committed to launch by May 1st, 2018.

level 1
5 points · 8 months ago · edited 8 months ago

36-year-old teacher in Sweden. Been in a pattern of living paycheck-to-paycheck for all my life. That ends now. I've had times when I've loaded up my savings account only to blow it on something that I rationalized as a need when it was actually a want.

What I've done:

  1. Made a budget in YNAB. Put in all of my debt, including the big ones like student loans and the car loan, just to make it visible and motivate me.

  2. Made a plan to pay off all of the debt with interest within the end of February.

  3. Read a book about managing money with the main message being "invest 10% of your paycheck to savings before you do anything, never buy with credit and invest in a house ASAP". It also goes through the most common investment options, so I feel like I have a better grasp on the fundamentals now.

So here's my plan:

  1. Start several saving "funds". Emergency fund (target is 3 months regular expenses), travel fund (7000 SEK for this summer) and down payment for house fund. I also have "camera gear" and "new car" besides the others in YNAB, but they are hardly prioritized now.

  2. Put those savings (at the very least 10% of my take-home pay) in diversified accounts. Some stocks, some bonds, some index funds, some interest savings accounts.

  3. Cut down on crap food and snacks. Saves both health and money.

  4. Sell all the camera gear I'm not using. There's a lot to recoup there. See if there's anything more to sell.

  5. Whenever I see something I want, put the link in a folder called "buy?" in the Chrome bookmarks. Get back to it later and see if I really want it. If I really want it, make myself wait another few months before I actually get it. I have enough books, games and whatnot to entertain myself for years, so if I'm getting something new it'll have to be on sale or it needs to be something really special, like a new book by George R.R. Martin (like that's happening...).

  6. Keep reading and learning about money management. I have a couple more books waiting for me.

level 1

I'm turning 25 in March. Currently in school + working full time (hoping for a part time gig too but not hopeful). Working from the ground up since I've only been working on my finances since about August 2016 and am just now in a place where I can seriously begin saving. Also, I work a commission based job now. Currently 40%, but by the end of summer I'll be making 50%.

  1. Save $1500 before April 28th (already accomplished, now trying to get to $2000-$3000)

  2. Take over full finances for apartment April 28th (roommate moving out).

  3. Save $4000-$5000 by December 31st.

  4. Begin investing in 401k over the summer.

  5. Move emergency fund over to alt bank account

  6. Begin paying down ~$12000 worth of student debt (maybe about $1000-$2000 depending on work).

level 1
1 point · 8 months ago · edited 8 months ago
  1. Use the envelope method of budgeting starting today

  2. Buy my meals from a meal service instead of getting takeout everyday

  3. Improve credit score to 720+ by June

  4. Zero debt including medical bills and my car bills by June

  5. Have six-figures in savings by June

  6. Take a side job to help pay down medical debt faster

level 1

First true goals I will be trying to attain (better late then never!)

  1. Get my weekly/monthly budget set

  2. Spend less on random impulse purchases

  3. Get my credit card and build credit

  4. Purchase a car at some point as its my first year being 100% independent and its relatively needed where I am

  5. Have proper investments set up for 2018 to safeguard my cash and to build upon it as much as possible

  6. Get as much assistance as possible through this fantastic subreddit! As well as those around me that are (what I have been told) financially savvy, and some financial advisers that are free of charge here.

level 1

I'll be 25 this spring. My main goals for 2018 are:

  1. Hitting my emergency saving account goal! This should happen by April right now -- although it seems like I'm going to be moving in March so I expect I'll end up hitting it in early summer instead. (I hope I don't have to dip but I'm promising myself I won't get mad at myself if I do)

  2. Start saving for a new car! My current car is a 2002 Mercedes (it was my mothers for the first 13 years so it was well taken care of) and while it's still going strong I'd like to be prepared to buy a new (to me) car in the next few years. My current "end date" for the car is when it is 20 but I don't want to have to force it to make it that long if it starts breakdown early.

  3. Set up dedicated health savings for my cat. Last year my cat was diagnosed with asthma which isn't really all that expensive in itself ($50 every 3/4 months for refills) but the process of getting her diagnosed was not cheap and it made me realize I should have some savings that are earmarked for her routine (and not so routine) expenses (Dental cleanings, annual exams etc).

Other than that I'm not sure! I think I'm going to have to reassess a bit once the summer comes and I've ticked off that first goal.

level 1
  1. Credit card paid off by Feb 1. Paid off in full every month thereafter.

  2. Debt free by end of Feb.

  3. Once credit rating is solid (by mid feb), get Chase credit card to start getting bonuses.

  4. 2k for holiday in March with my mother to celebrate her 60th.

  5. By June: all outdoor renovations on house completed.

  6. By December: all indoor renovations on house completed.

  7. By end of year: 7k in savings.

level 1

Hello everyone, i am fairly new to reddit and my financial goals are:

  1. Get my 07 Chevy Cobalt fully paid off

  2. Save exactly 2,023.92 next year (i think it would be a nice idea to save as much as your bday)

  3. Get financially stable and move out of my moms place.

  4. I am pushing to get manager position at my current job, hopefully try to get it by end of this year or beginning of next year.

  5. I would love to get a morgage for a house that i wanted for the past 3 years. (knowing that it sits empty for the past 4 years now and its going to be needing some TLC)

  6. try to spend less money on the things i dont need like itunes, buying steam games when theyre on sale, buying art work from a friend, going out to eat when i can make food at home (this one is kinda hard because i am a traffic control specialist and there is always a gas station down the road.), only buy the essentials and not compulsive buy the things i dont need. 7.Start managing money better (i mean this one is very obvious)

  7. Probably sell things that i dont even use or touch anymore. i have an xbox but i barely use it because im always on my pc more then i do with my xbox.

I think thats it, i believe that ill do most of these on my list but not all of them.

level 1

34, married, 2 kids, solid paychecks, down in the purple section of the flowchart

  1. Use a budget to figure out what my spending really looks like. I'm not trying to use a budget to cut back on my spending, though that may be a side effect. (1a. Compile a comprehensive list of all my less-than-monthly expenses so I know how to budget for those in the future.)

  2. Get my HOA set up. My wife and I own 51% of our 2-unit building. We've been splitting shared bills (insurance, water, garbage, etc) with our neighbors, but should get separate accounts set up to handle this.

  3. Do the backdoor roth thing. This involves moving existing IRAs into a 401(k).

  4. Figure out life insurance/long term disability insurance. We've got enough savings that it's not clear we really need much insurance in this area, but I'd at least like to do the math and figure out if that's right.

  5. Figure out earthquake insurance. I live in California, seems like an earthquake policy might make sense.

  6. Set up a will/trust/durable power of attorney/etc. Not sure what I need here, part of the goal is to figure it out.

  7. Get my finances on autopilot as much as possible.

level 2
2 points · 8 months ago

The inevitable consequence of establishing your current budget is a reduction in spending. It's magic.

level 1

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

level 1

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.

level 1

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...

level 1

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..

level 1

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!

level 1
  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!

level 1
  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.

level 1

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.

level 1

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?

level 1
6 points · 8 months ago · edited 8 months ago

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)

level 1

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!

level 1

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.

level 1
1 point · 8 months ago · edited 8 months ago

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?

level 1

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)

level 1

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.

level 2

Good luck mate

level 1

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.

level 2

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.

level 3

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!

level 1

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.

level 1

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.

level 1

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.

level 2

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.

level 1
3 points · 8 months ago · edited 8 months ago

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


*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

level 1

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.

level 1
2 points · 8 months ago · edited 8 months ago

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

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.

level 1

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.

level 1

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

level 2
Comment deleted8 months ago(1 child)
level 3

If I can do it it's only because I'm still living at home lol. In all seriousness though I'd check out both your HSA and 401k plans to compare fees because HSA contributions are triple tax advantaged (don't pay FICA taxes) rather than just being state and federal tax advantaged. Might be worth it to move some of your 401k contributions over to your HSA!

level 1
5 points · 8 months ago · edited 8 months ago

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

level 2

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.

level 3

thanks for the encouragement!

level 1

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.

level 2

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

level 3

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”

level 4

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. :)

level 5

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).

level 6

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?

level 7

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.

level 8

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!

level 1

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]

level 2

You are crushing it what do you do?

level 3

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

level 1

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.

level 2

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

level 3

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

level 1

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

level 1
  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

level 1

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.

level 1

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

level 1

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

level 1

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.

level 1
Comment deleted8 months ago(3 children)
level 2

What's the interest rate on your loans?

level 3

Various 3.6 4.0 5.5 and 6.8

level 4

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.

level 1
3 points · 8 months ago

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

level 1


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!

level 1
  • pay off credit card debt

  • have $2,000 in savings

  • have excellent credit

level 1

Pay off my $28000 student loan

level 1

This is a bit nebulous but doable:

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

level 1
6 points · 8 months ago · edited 8 months ago

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

level 1

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.

level 1

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

level 1

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

level 1

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

My 2017 goals were:

Top off the EF at 3 months worth of expenses


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


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

level 2

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.

level 1

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

level 1
2 points · 8 months ago · edited 8 months ago

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)

level 1

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.

level 1

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.

level 1

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.

level 1

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)

level 1

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).

level 1

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.

level 1

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! ;)

level 1

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!

level 1

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.

level 1

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.

level 1

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. :)

level 1

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

level 1
5 points · 8 months ago

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.

level 2

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.

level 3
3 points · 8 months ago

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.

level 4

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

level 5
3 points · 8 months ago

Thanks. I love this sub

level 1

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)

level 2

4k furniture

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

level 1

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).

level 1

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.

level 2

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.

level 3

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.

level 2

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

level 1

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

level 2

Are you based in Europe already?

level 3

Yes im from EU to be more specific Slovenia.

level 4

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

level 5

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.

level 6

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!

level 1

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.

level 1

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

level 1

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.

level 1
  • 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.

level 1

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.

level 2

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.

level 3

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

level 1

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 it financially feasible to retire at 60?

level 2

Yes, provided you save about 50% of your take-home pay. Read this:

level 1

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

level 1
3 points · 8 months ago · edited 8 months ago

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.

level 1
2 points · 8 months ago · edited 8 months ago

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)

level 1

married couple + little new bb


  • 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


  • achieve 6 figure net worth

  • max out both roth iras

  • max out both 401ks

edit: formatting. I give up

level 2


level 1

Pay off my student loans before interest starts

level 1

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)

level 1
7 points · 8 months ago · edited 8 months ago

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

level 1
  • 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.

level 1

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.

level 1

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.

level 1

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).

level 1

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.

level 1

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

I am a HUGE Dave Ramsey fan as he helped me 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

level 2

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.

level 3

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 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 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.

level 2

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.

level 3

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!!

level 4

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 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!

level 1
1 point · 8 months ago · edited 8 months ago

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.

level 1

30, Single, 60k/year


Paid off 12.5k in student loan debt.


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.

level 1

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.

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