October Financial Check

Can you believe that we are already 3/4 of the way through the year? I don’t know know about you, but in my mind, May was yesterday.

In light of it being 3/4 of the way through the year, I thought we might as well do an update on finances. Maybe one day, I’ll really lay it all out and be totally transparent, but I’m not sure that I will ever be that brave. I’d rather you not know some of my deepest, darkest financial secrets like the fact that I spend way too much eating out at really exciting places… like McDonald’s (Remember, I have a 3 year old and a 5 year old).

Financial Check

Taking Financial Accountability seriously makes cents!

Because I’m just not that brave, we’re only going to lay out our savings.

Our savings Year to Date:
1. Mortgage Principle Reduction: $21,134
2. 529 Plan savings: $2,800
3. IRA: $11,000
4. Savings Account (-11,414) — Boo!
5. 401(k) $25,585 –this includes company match & YTD returns
6. Mr. Keller’s work retirement: $3,600
…… For a grand total of: $52,705!

That’s not too shabby! I’m not going to tell you what our savings percentage is, but it’s not too bad. I could wish that our savings account hadn’t actually decreased over the year, but we had to fund those IRAs somehow.

By sharing this information, I’m trying to encourage everyone to start saving. I’m shocked every time I read how few Americans could come up with $1,000 in an emergency. To be honest, I don’t believe it. I think we underestimate our abilities. How many of you are buying unnecessary crap? I know I am!!

I’m also sharing this financial check is┬áso that you can hold us accountable. I want to have F* You money, and the only way to do that is to save diligently.

One thing that has helped us with our savings rate immensely is to pay off all of our debt. We are debt free except for the house, and you cannot imagine how much money that has freed up on a monthly basis!

I used to have no issue with taking advantage of those 0% credit offers, but today, I smile and say “no, but thank you!” You see, even though those offers technically put us ahead (we were making money on the back of inflation), it was keeping us poor. We were overspending, and we were causing our future selves to pay for our mistakes. Why should future Sarah have to pay for Current Sarah’s shopping habit?

Join us at the end of the year for another financial check!

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