I've never run an FI calculation for myself and I finally did today! It was a lot less than I thought it would be. I actually think that with some hard work and with my husband re-entering the workforce, we might be able to swing earlier retirement. We've made some really positive changes in reducing our expenses (thanks to a year of living in lockdown). I guess we really just assessed when we needed vs what we wanted. A lot of our spending was impulse spending, like dinners out and roaming Target aisles. If I am successful in paying off our short term debt, then I should be able to save 15% (+4% from employer for a total 19%) comfortably without changing our standard of living. I'm short of that 100K as well @Katie, but I have never felt more confident about getting there than now. The more I educate myself, the more confident I feel!
Beware the inflation though
Great questions, @Candice! When the pandemic started I actually spent more on things like eating out and Amazon impulse buys than prior. Once I realized that I wasn't getting ahead I started using a budget for the first time ever and was able to adjust my spending accordingly when I didn't like what I was seeing. I stopped spending on most things that aren't necessary, each purchase is a choice now and I choose financial freedom 9 times out of 10. I now have 4 months of emergency fund in addition to 5 sinking funds for medical, gifts, kids expenses, vacation, and house expenses. Next year will be: adding to emergency fund (goal of getting up to 12 months), increasing 401k contributions (goal of tripling the current balance), and saving for my first rental property (goal of purchasing in two years). If I continue to stay motivated then I know I'll be in a much better position this time next year, just looking back to where I was a year ago, with practically nothing in savings and even less in retirement.
@Katie Internet high five for some impressive goals!
@Albert I think the calculator I used accounted for inflation, but I will have to double check.
This Friday is payday for me; my budget is balanced, my debt is down and my Christmas spending is budgeted for! Feel great heading into November.
Hope you guys have a great weekend! I have a planned no-spend weekend. Candy was bought with last weeks grocery budget (and well hidden so its mostly intact lol!)
Hi Arlan, thanks. I'll check it out.
Kristen, investing is a great way to go. I also had that idea but 
… I'll stay away from crypto from here on out. Good luck with your stamp collection!!
I managed to pay my car off 6 months early which opened up more money for the student loan payoff but I invested most of it. I'm still rebuilding the payoff funds and I have quite a lot to recover, but I am determined to have then paid off before the interest restarts.
Hope everyone has a great weekend! It's my oldest son's birthday and he asked for a Dairy Queen ice cream cake. Those are pretty expensive so he agreed to let me make one using a copycat recipe online. It was much cheaper so let's hope it tastes just as good!
I didn't know Dairy Queen made ice cream cakes but love the ones from Baskin Robbins. It's been years since I've had one partially because of the cost and partially because my mother bought it for my birthday. I'm sure yours will turn out great and your family will be able to taste the love in each bite. Keep us updated on how it turns out.
Have a great weekend everyone!!
My first job was working at a Dairy Queen! I used to make ice cream cakes; it was super fun!
My mom treated us to the Melodrama for their local Halloween show. The kiddo had a blast. It was my first time to the theater in a few years. I definitely plan on going back!
The cake turned out awesomely! I used the copycat recipe from lifeloveandsugar.com. The only thing I would recommend is to add freezing time to what the recipe says. Maybe my freezer isn't set as cold as others (I know it isn't because I did that on purpose to save on the electric bill!) but the cake got a little melty when I was spreading the whipped topping. So for around $10 for ingredients versus $23 from the store, I'll definitely choose DIY over convenience!
@Sarah, that sounds fun! I should have looked for something like that by me - probably a little late now, but maybe for the winter holidays
Wow!! That's an amazing amount of savings from buying out vs DIY cooking. I've managed to save a bit too since I've started back cooking instead of going out, and I've managed to lose a few pounds in the process.
The article of the day has mentioned the SaverLife team adding new opportunities to gain scratchers and an opportunity to win one of (several) big money rewards. Yay!! They are listening to the ideas of the users and I am excited about it!!
To the SaverLife team, thanks for responding to the many requests. You make me feel more heard than my employer and my pre-teen.
Happy Monday! I started the day my slamming my finger in the car door so the day can only get better, lol! When bad things happen I make sure to look for something good to balance it so I'm going to cross my fingers (on my other hand 
) that I have good luck!
@Katie: Ouch, but so glad the cake turned out [albeit slightly melty when preparing] wonderful! As for the freezer idea…I might ask my housemate if that is something to consider. (Always looking for ways to save more. But got to remind myself that there is a difference between frugal and cheap. [Jen and Jill from "Frugal Friends Podcast"].
@Candice P: I wouldn't be going near cryptocurrency myself if it were not for Current [one of the side-incomes I do] offering it as a point-redemption reward. I discovered that while I like Amazon gift cards…getting them tends to make me spend more, so I'm "saving up" my points for something that might not cause me to spend so much.
Happy Monday Everyone!
@Katie Ouch! Hope your finger feels better soon.
I'm excited to see SaverLife adding some additional rewards. Super exciting!
New Month, new budget! The kiddo has expressed some interest in starting dance/gymnastics/something classes, so I am going to have to find a way to work that into our budget. Luckily we should have the room in time for the new dance/gym season to start. They also have ninja classes, which honestly, I would like to take as an adult lol.
Katie, my sister slammed my hands in doors (yes, plural) "accidentally" when we were kids. I hypothesize it to be one of the main reasons for my left handedness, LOL. I'm sorry, I know it hurts but at least you kept your humor with the 🤞, I literally LOL when I read that part. You're amazing and funny.
Kristen, I think I have Crypto PTSD. I get really sad and angry when I hear the word.
I love Amazon though. I would probably stack the gift cards so I could have enough to buy a few items on my wishlist but, I don't think I'm as patient as I should be with Current and some of the survey sites. I feel I'm not patient with SaverLife at times but the conversations between the users makes it very interesting… at least now it is.
Sarah, my son has always been in some type of sport and yes, they can be really expensive when you pay the registration and the equipment but it is entertaining, teaches teamwork, and helps the kids burn off all the extra energy in those little bodies (to be a kid again). I'm sure you will be able to squeeze something from your budget but if not, let them mow the lawn and rake leaves. It's still exercise but it's free, still burns energy, and gives a greater appreciation for household activities (maybe). Good luck!!
Happy new week everyone!!
Good morning! The finger is healing nicely, it's no longer throbbing and tingling so that's a good sign. Thank you all for the nice words 
️
Yesterday my work announced that instead of giving just $1 raise to more tenured employees they would be giving the $2 increase to everyone regardless of how long they've been with the company. I knew something good would happen to balance the car door accident. Hopefully this raise will help me in the final two months of my competition - the key will be not to increase my spending by one penny!
@Candice P: Understandable. I also sometimes am not too patient, but I'm learning. As for stacking gift-cards. I try…but once it gets to $20 on Amazon…that's when I start to break down since its "so close" to the free shipping and I can usually buy at least one item from my wishlist.
@Katie P: That's awesome! (Law of Attraction in action, right there, I would presume.) Please, if you are comfortable with it, update us/let us know how your competition goes. Agreed to the "key" being not spending any more. May that be a fun endeavor for you.
I've become so used to going to the article of the day and then "shifting" through the three bottom articles that are recommended until I find one that I am interested in [and either haven't read or want to read again], that I've forgotten how to search through articles any other way. I was absent the day SaverLife had an article about the additions/changes to point earnings[?].
The article of the day mentioned asking your employer for a raise, LOL!! It's not for lack of trying that I'm not getting a raise. There is a job posting for a supervisor position but I'm hesitant to apply. I feel unseen and unacknowledged by leadership but the job itself is meaningful and gives me joy. I'm not sure if I should apply feeling this way. Then it becomes a test of contentment vs complacency. I really don't know if it's worth the effort but I could really use the additional income toward retirement investments and sinking funds. The pros and cons can't really be weighed since I've not been in a direct supervisory position, but a temporary leadership/trainer situation. I feel "stuck" (sounds funny when you say it 3 times in a row, lol).
Would/should you apply for a different job knowing the responsibilities will be more but the pay will only be a few dollars more than what you currently make?
Would/should you apply for a job knowing the experience will look better on your resume?
How do you know if you're being content or complacent?
Thanks for listening. Any feedback is welcome and appreciated.
Good questions, @Candice. For me, I've never chased a job for the pay it offered, but for the job duties - maybe that's why I'm not making 6 figures, lol. They say an increase in pay is only motivation for about 6 months, then levels go back to where they previously were. After you get used to the higher pay, the job is still there needing to be done. So, I need to feel good about the work I'm doing - either that it's helping someone else or it's helping me grow and learn. If you feel that you have skills to offer then I say go for it! But one tip, confidence is important so on your letter of interest and in your interview I would shy away from using words like "feel" and flat-out say "I have skills to offer this company!"
Personally, I have decided that managing people is not in my skillset. I work best as a member of a team rather than a leader of it. If I wanted to, with my length of experience/tenure at my company, I could transition into one of the leadership roles. There would be a substantial increase in pay but it would also be a substantial increase in my time away from home; Longer days, weekends, travel, etc. I have no desire to do any of that! For me. my free time is worth more than the money I would earn. There are a few weeks to a month where my current workload transitions to on call, but for the most part, I never have to work outside my work hours. And I would never want to. My career advancement path is through furthering my education/skillset.
I did recently obtain licensure for my occupation though, which gives me the ability to approve certain documents and plans. This is a cost savings for my company, since we don't have to contract out the work. I received my licensure in 2020, however I have been hesitant to ask for a raise because of the current economic climate. At the same time though, I know I am deserving of one. Working up the courage to ask has been really, really hard.
I would say if its something you love doing and the extra responsibility is worth the extra dollars, than do it! Bonus if it sets you up for a better position in the future. Never forget though, that your free time is worth something as well. You have to take care of yourself too!
Kind of related, there was a really good podcast on NPRs Life Kit (I think) on the 40 hour workweek and about how some companies are transitioning to a 32 hour workweek. They've found the same amount of work gets done (more efficiently) and employees are happier. Apparently our brains are only good at focusing on complex work for about four hours before we become useless and start browsing amazon lol. Makes sense since my best work usually gets done in the early AM and right after lunch.
Katie and Sarah, you've both give me excellent advice (as always). I have a few days to apply and I think I will based on a combination of what you both said. I've seen people post employment positions for 32 hours, but they are calling it part-time. That seems ridiculous!! You're working a full work week minus 8 hours and they don't want to pay insurance and retirement. I really thought 20 hours was part time… when did that change?
I'm all for 32 hour work weeks!!
Good luck, Candice! The 32 hour week is what I'm going after. I want to start adding rental properties in the next two years and then once that cash flow equals the difference in pay from cutting down my W-2 job then I'm going to push for the schedule change. At my job we offer health benefits at 30 hours and paid time off at 32 so those wouldn't be in jeopardy if I cut down a day. Long-term goal and I might change my view on it, but that's where my mind is currently.
@Candice P: I have only recently entered the workforce, so for me it has always been part-time at >30 hours. I believe the change came, though, when the Affordable Health Care Act was signed into law because companies/employers would then need to provide insurance for their employees at 30 hours.
However, this change could have started taking place after the book "Four Hour Work Week" started gaining favor/attention. At least, these are the two factors that I have found when trying to learn about part time v. full time hours.
Lol, part-time work is great… and even better if it still pays as full time (wishful thinking). I heard other countries get a two hour lunch to eat and take a nap. That sounds lovely!
As grateful as I am to have a job but I don't think the government should make anyone work past 65 or get to determine when people get to use the money they've contributed with their own efforts. The more I think about it the more unreasonable it seems to push back retirement age and only allow people to withdraw at a certain age. I've been working a long time and retirement is still more than 20 years away, smh. I love what I do but sometimes I think I'd rather own an ice cream shop, LOL! These days I'm all about being my own boss… in my head anyway.
