Friday, October 14, 2016

I am Not Hopeful

Not hopeful on many things lately, including where our country is heading if either Trump or Clinton are elected(combined with the current collection of chuckle heads in the Congress), but that's NOT what this post is about.

It's about my Savings Challenge Goal for 2016.

I doubt that I will actually hit my targeted amount of $38K.

I am at $28,797.32 saved with three more months to go.  That means I need to stash away $9,202.68 before we ring in 2017 to hit my goal.
That comes out to $3,067.56 each month of the next three months.

We've got 6 paychecks to receive here until the year ends.

Besides the regular bills, we have 2 irregular bills coming due out of those paychecks as well-- a quarterly garbage bill for $84 due this month and a semi-annual $950.33 car insurance bill due in November.  Plus there is the financial mayhem of the Holidays.....well not really mayhem for us as I save and buy for Christmas during the year and don't put it on credit so there is no January financial hangover.

But still, holiday spending puts a dent into what we have left to save.  ;-)

I just don't see, with our increased spending in electricity, water, food and in medical co-pays since June, how we are going to save $9K+ out of those 6 paychecks.

Plus there is the issue of keeping part of December's savings liquid in our account to use in January when the high deductibles of our medical plan kick in for the new year before we see any reductions in what we are required to pay for prescriptions, DMEs, tests and office visits.
Oh goody......

It's just doubtful if I am going to make my goal.

Yes, it's still AWESOME that I have saved $28K so far and anything more I can stash away into savings will be great.
But I so had wanted to make that $38K goal, especially since this will be the first year since I started doing these Savings Challenges that I won't reach the year's mark. sigh.

But it's all good.  A few thousand saved more or less won't change the big financial picture and I am grateful for what I've been able to put away.
After all, every little bit helps! 8-)



  1. I like the challenge though, even if the goal is a huge stretch. It keeps me focused as to not throw a needless thing into the shopping cart, or think through an activity before committing as to whether it will bring us enough joy to put money towards at the trade off of foregoing another goal. I am sure I will not come even close to my year end goals that I started in July, but my $800 towards a couple weekend get aways will be decreased to a couple hundred for a girls day, and maybe one night out of town, and I am thinking hard on how to keep Christmas as cheery as I want, while reducing the budget a bit more to reflect what I actually will have put away. The dollars for the Roth are the most difficult but then I have to remember I increased my 401K form $18,000 to $24,000 becasue I'm now 50 and can play the "catch"up. That is a huge amount of cash flow change in our budget-at least $350 a month, but guaranteed going into long term savings (unless the market crashes I suppose).

  2. Sluggy, do you not have a HSA attached to your high deductible medical insurance plan? or do you set aside your own funds, monthly, to cover the equivalent in deductible. I have to meet $6000 between 2 tiers of deductibles before ins covers 100% IF I stay with in network providers. That is the best case scenario, so I squirrel away $6000 pretax dollars to cover these deductibles, knowing that we will go thru them, thus "eating" $6000 in OOP medical costs. I also try to keep a slush fund or extra $ as allowed by the IRS, to cover OTC, approved medical costs such as first aid items, vitamins, etc. Since my monthly budget is based off of take home pay, I don't have to consider the aforementioned $6000 but still follow my deduction and repayment status like a hawk. You've has a transition year with DD and BF moving in. Been there, done that. As much as you can try to pin down costs, some extra will creep up on you, thereby impacting your big picture. Wishing you the best, it's not easy.

  3. Don't look at it as a failure, just a deferment due to changed circumstances. Maybe you can play catchup next year.

  4. You set your challenge before you knew circumstances would change. Just keep on doing what you do best, and cut yourself some slack.

  5. I'm still impressed that you were able to save all that AND all the rest that's happened this year. I'll bet 2017 has YOUR name written all over it and that you find $5.
    Robb always says, to make a story interesting, add that at the end if you feel like you're losing anyone.

  6. I'd have to say if your husband is fine with things, let it go! Yes, you could have saved more money if you didn't have adult kids living with you (I'm assuming they aren't paying their share of bills) and since DH is the bread winner and not complaining, you're doing GREAT! Many people I know don't even make what you have saved, so put things in perspective. Next year, you can come up with a more realistic figure.

  7. I buy two gifts at Christmas. One present each for my two granddaughters.
    THAT'S IT!
    We value our time together. And sharing a good meal together. Not material possessions. I dislike what the holidays have become.
    Christmas is for the children.
    Lots of free family fun things to do around the holidays also. No reason to spend a lot of money.

  8. Saving $28,000. is awesome! It's a definite win,win, win!

  9. Oh my! Some of us are living on less than you are trying to save this year! Just a bit of perspective from the "other side"

  10. I'm with American Dreamer, AWESOME!
    Or you could take some of that money to the casino and double it. Cuz you would never lose at the casino. LOL

  11. You have done so well no matter where you end up, not what you wanted, I know but it is what it is. You had a lot of unexpected crap (care of kids, they are always good for that) thrown your way and are still doing so well. Don't let it get you down.

  12. I'm with Linda and American Dreamer. You might not hit your goal this year but your savings is awesome!!! Way to go, seriously!

  13. I like to think every little bit helps, yes.


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