Comments on: $48,000 Goal Update: 11 Months And 1 Van Later http://www.ncnblog.com/2007/12/04/48000-goal-update-11-months-and-1-van-later/ Debt Reduction Rocks - We Are Living Debt Free! Sat, 21 Nov 2009 11:44:22 -0800 http://wordpress.org/?v=2.8.6 hourly 1 By: Evan http://www.ncnblog.com/2007/12/04/48000-goal-update-11-months-and-1-van-later/comment-page-1/#comment-113644 Evan Fri, 06 Jun 2008 13:05:19 +0000 http://www.ncnblog.com/2007/12/04/48000-goal-update-11-months-and-1-van-later/#comment-113644 The fact that you have a goal, and that you tried hard to reach it is amazing. By my calculations, our salaries are very similar, I was able to put away nearly 50% of gross and so I can definitely empathize with your lofty goal of 60%. You still saved 45%, AND you have two children from what I can tell. Very impressive! I would be curious to see percetange of the population of which you are saving more than (relatively speaking compared to your gross). I'm guessing it's over 99%. The fact that you have a goal, and that you tried hard to reach it is amazing.

By my calculations, our salaries are very similar, I was able to put away nearly 50% of gross and so I can definitely empathize with your lofty goal of 60%.

You still saved 45%, AND you have two children from what I can tell. Very impressive! I would be curious to see percetange of the population of which you are saving more than (relatively speaking compared to your gross). I’m guessing it’s over 99%.

]]> By: James http://www.ncnblog.com/2007/12/04/48000-goal-update-11-months-and-1-van-later/comment-page-1/#comment-59093 James Fri, 07 Dec 2007 14:43:24 +0000 http://www.ncnblog.com/2007/12/04/48000-goal-update-11-months-and-1-van-later/#comment-59093 This just goes to show the importance of having a emergency funds/spare cash for any eventualities. Life happens, things break. In my books, you are still ahead of the game. This just goes to show the importance of having a emergency funds/spare cash for any eventualities.

Life happens, things break. In my books, you are still ahead of the game.

]]> By: Free Money Finance http://www.ncnblog.com/2007/12/04/48000-goal-update-11-months-and-1-van-later/comment-page-1/#comment-59041 Free Money Finance Fri, 07 Dec 2007 11:20:05 +0000 http://www.ncnblog.com/2007/12/04/48000-goal-update-11-months-and-1-van-later/#comment-59041 <strong>Star Money Articles for the Week of December 3...</strong> Here are some recent interesting posts from the MoneyBlogNetwork and beyond: Five Cent Nickel buys a new vacuum. Blueprint for Financial Prosperity talks about the wash rule. No Credit Needed is saving a ton of money. Get Rich Slowly gives... Star Money Articles for the Week of December 3…

Here are some recent interesting posts from the MoneyBlogNetwork and beyond: Five Cent Nickel buys a new vacuum. Blueprint for Financial Prosperity talks about the wash rule. No Credit Needed is saving a ton of money. Get Rich Slowly gives…

]]> By: Tim http://www.ncnblog.com/2007/12/04/48000-goal-update-11-months-and-1-van-later/comment-page-1/#comment-58902 Tim Thu, 06 Dec 2007 21:14:54 +0000 http://www.ncnblog.com/2007/12/04/48000-goal-update-11-months-and-1-van-later/#comment-58902 presumably the ING savings was for emergencies, and that is what it was used for. Your overall objective of $48k was based upon not having emergencies, and it did not include the plan to buy a newer car (or did it?); moreover, you also had sufficient savings to cover both funding your wife's IRA and covering the van repair. I would say, that your budget ended up doing exactly what you wanted it to do. lessons learned: first, those unplanned purchases can affect your savings goal, so adjust your savings goal accordingly. second, emergencies can affect your savings goal, so its good to have an emergency fund so you can absorb them. third, when planning your 2008 savings plan, figure in some buffer in order to absorb unexpected expenses. I think $48k was too lofty in terms of not accounting for unplanned purchases or expenses, and having to refund an emergency fund in the event of these occurrences. either way, you did well. we were also $20k off our savings goal, trying to limit our expenses to 10% of our income and saving 90%. presumably the ING savings was for emergencies, and that is what it was used for. Your overall objective of $48k was based upon not having emergencies, and it did not include the plan to buy a newer car (or did it?); moreover, you also had sufficient savings to cover both funding your wife’s IRA and covering the van repair. I would say, that your budget ended up doing exactly what you wanted it to do.

lessons learned:
first, those unplanned purchases can affect your savings goal, so adjust your savings goal accordingly. second, emergencies can affect your savings goal, so its good to have an emergency fund so you can absorb them. third, when planning your 2008 savings plan, figure in some buffer in order to absorb unexpected expenses. I think $48k was too lofty in terms of not accounting for unplanned purchases or expenses, and having to refund an emergency fund in the event of these occurrences. either way, you did well. we were also $20k off our savings goal, trying to limit our expenses to 10% of our income and saving 90%.

]]> By: Cynthia http://www.ncnblog.com/2007/12/04/48000-goal-update-11-months-and-1-van-later/comment-page-1/#comment-58826 Cynthia Thu, 06 Dec 2007 16:05:18 +0000 http://www.ncnblog.com/2007/12/04/48000-goal-update-11-months-and-1-van-later/#comment-58826 I agree with everything you said. You didn't fall short of your 2007 goals because of any poor financial decisions , it was because a needed expense came up earlier than you anticipated. Great job on a fabulous year! And now 2008 can be a save, save, save year! I agree with everything you said. You didn’t fall short of your 2007 goals because of any poor financial decisions , it was because a needed expense came up earlier than you anticipated. Great job on a fabulous year! And now 2008 can be a save, save, save year!

]]> By: Sam http://www.ncnblog.com/2007/12/04/48000-goal-update-11-months-and-1-van-later/comment-page-1/#comment-58438 Sam Wed, 05 Dec 2007 12:21:10 +0000 http://www.ncnblog.com/2007/12/04/48000-goal-update-11-months-and-1-van-later/#comment-58438 I think you did well. You completed a lot of savings goals during 2007 and you purchased a nused van with cash (that's an accomplishment - yay for no finance charges) that you needed. I think your 2007 goals were realistic and you would have come much closer if you had not bought the van. I think you did well. You completed a lot of savings goals during 2007 and you purchased a nused van with cash (that’s an accomplishment – yay for no finance charges) that you needed. I think your 2007 goals were realistic and you would have come much closer if you had not bought the van.

]]> By: FinanceAndFat http://www.ncnblog.com/2007/12/04/48000-goal-update-11-months-and-1-van-later/comment-page-1/#comment-58318 FinanceAndFat Wed, 05 Dec 2007 02:32:30 +0000 http://www.ncnblog.com/2007/12/04/48000-goal-update-11-months-and-1-van-later/#comment-58318 Sure, you didn't meet your goal, but I'd still call that a banner year. That's what I like about setting big goals- you can 'fail' but if you aimed high you will likely be much farther along than if you hadn't tried. Sure, you didn’t meet your goal, but I’d still call that a banner year. That’s what I like about setting big goals- you can ‘fail’ but if you aimed high you will likely be much farther along than if you hadn’t tried.

]]> By: NCN http://www.ncnblog.com/2007/12/04/48000-goal-update-11-months-and-1-van-later/comment-page-1/#comment-58308 NCN Wed, 05 Dec 2007 01:47:20 +0000 http://www.ncnblog.com/2007/12/04/48000-goal-update-11-months-and-1-van-later/#comment-58308 Kurt... That's exactly how I see it. (I was going to buy a newer van in late 2008, which would have changed my 2008 goals... so I just pushed things "forward" a year or so...) NCN Kurt… That’s exactly how I see it. (I was going to buy a newer van in late 2008, which would have changed my 2008 goals… so I just pushed things “forward” a year or so…)
NCN

]]> By: Kurt http://www.ncnblog.com/2007/12/04/48000-goal-update-11-months-and-1-van-later/comment-page-1/#comment-58302 Kurt Wed, 05 Dec 2007 01:02:53 +0000 http://www.ncnblog.com/2007/12/04/48000-goal-update-11-months-and-1-van-later/#comment-58302 I don't think you can view the van thing as a problem. After all, it wasn't going to live forever. And so what you really have is a timing difference between when you replaced it and when you planned to replace it. Of course, it would be nice to save as much as possible, but you also can't will reality to fit your needs. Keep up the good work. I don’t think you can view the van thing as a problem. After all, it wasn’t going to live forever. And so what you really have is a timing difference between when you replaced it and when you planned to replace it. Of course, it would be nice to save as much as possible, but you also can’t will reality to fit your needs.

Keep up the good work.

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