Money Matters
labro
member
Dear Community,
Our tech team has launched updates to The Nest today. As a result of these updates, members of the Nest Community will need to change their password in order to continue participating in the community. In addition, The Nest community member's avatars will be replaced with generic default avatars. If you wish to revert to your original avatar, you will need to re-upload it via The Nest.
If you have questions about this, please email help@theknot.com.
Thank you.
Note: This only affects The Nest's community members and will not affect members on The Bump or The Knot.
Our tech team has launched updates to The Nest today. As a result of these updates, members of the Nest Community will need to change their password in order to continue participating in the community. In addition, The Nest community member's avatars will be replaced with generic default avatars. If you wish to revert to your original avatar, you will need to re-upload it via The Nest.
If you have questions about this, please email help@theknot.com.
Thank you.
Note: This only affects The Nest's community members and will not affect members on The Bump or The Knot.
2016 Highs and Lows
It's nearly the end of the year...seriously how is it going to be 2017 in just a few days? How was your year?
What were some really great things that happened this year?
What were some not so great things?
What were some really great things that happened this year?
What were some not so great things?
Re: 2016 Highs and Lows
- We paid off my car at the end of July! I did the total calculation between my car loan and our combined student loans and together we paid off $90k...with $70k of that payoff occurring between 2014 and 2016. It still feels amazing!
- We started paying extra principal on our mortgage every month.
- We both maxed out our 401ks for 2016.
- We hit $100k in combined retirement savings in May.
- We got to spend a lot of time with DH's parents this year. They live 12 hours away and it was really special to visit with them three times this year and also get to spend time with both of DH's sisters and his niece and nephew. Family time is so important to us and it's hard sometimes when we can't get equal time with both sides.
- I met my Goodreads reading goal for 2016 and then surpassed it for a total of 37 books. My goal for 2017 is 40 books.
Lows
- We could have done a lot better with sticking to our budget. We met all of our financial goals (or nearly have, I still have some final IRA contributions to make before April 15th), but there were some months with really high credit card bills because we were just buying what we wanted and not trying to live more frugally. So my goal for 2017 is to find ways to cut back, enjoy our life as it is, and stop filling it with stuff.
- I felt really discouraged with my job this year. Overall it still challenges me and I don't hate it...but I miss my team structure from when I first started working at my company and my current manager is something of a micro-manager. I want to commit in 2017 to finding ways to improve my performance and not let the little things frustrate me so much.
- we paid off our car in May. We had been paying extra on it for awhile and once we killed the loan were able to add an additional $500/month to our savings.
- we got a good deal on our backyard fence and not having to go out with the dog in the rain is kind of glorious now.
- finally got pregnant after 2 years of trying!
- our trip to Paris and Amsterdam last spring. It was exactly what we needed.
- net worth passed $300k which was a goal I was hoping to reach by year end, but it happened a couple months ago which was a nice early surprise.
Lows
- we are still super bad about take-out and need to cook at home more to keep the budget in better check.
- fertility treatments which turned out to be awesome when they finally worked and it definitely brought my husband and I closer in our relationship, but in the thick of mood swings and shots and 40 zillion doctors appointments it is definitely not fun and I hope our frozen embryos are all we need in the future because I don't want to go through all that again.
-paid off H's SL
-H worked almost all year and is now in a more stable job that recently promoted him
-Went to TX for a wedding and welcomed a cool new cousin to the family
-Took a fun trip to Memphis with H
-Had good times over the summer at both of our HS reunions
-H and I celebrated our 3rd anniversary and we are still very much in love and a very good team
Lows
-MIL diagnosed with breast cancer
-my parents were in a terrible car accident this month (but are thankfully doing very, very well considering)
-A few days ago my mom accidentally gave the dog access to yeast dough. The dog ate it and then had to go to the vet for open stomach surgery. Thankfully the dog is ok and on the mend. The silver lining is that we thought dog had stomach cancer but during the surgery the vet didn't see any. If she recovers fine from this we may have her around several years longer than we have been thinking.
-My manager that I liked resigned and now I report to a guy that isn't a great manager (not a bad person though) and creates a lot more work for me because he is a very CYA type. Job satisfaction is now lower
Highs
- Really amped up my real estate investing career. Got tenants in for the duplex reno I started in 2015. Bought a single family house that already had a tenant. Bought a second duplex that we're finishing up the reno on now and should have tenants in sometime in January. I didn't realize that ALL happened this year until I wrote it out!
- Trip to Boston. My H and I had never been there before. We loved it and had a great time.
Lows
- This is more a general low about myself, not necessarily related to 2016. I procrastinate too much and I don't know how to stop and stay motivated. I am my own worst enemy and it has held me back in life, in a lot of ways. It is always, "Tomorrow is yet another day." Darn you, Scarlett O'Hara.
- I went from paying my credit cards off every month to totally blowing my previously awesome credit card utilization because I used my cards for my duplex rehab expenses.
- My job is very insecure. Though the previously expected "everyone will be laid off by Dec. 31st" has at least not happened. There is even a glimmer of hope the project will be pulled out of the fire. But the reality is I could be laid off any day.
- I found out this year that the problem with my gums is even more extensive than I thought and there isn't much hope outside of major, ie expensive, gum surgery. And, even with surgery, I'll be faced with gum scaling twice a year. Which is also expensive and painful. I can't afford the surgery and am not sure I would spend the money, even if I could. So I do nothing. After school is back in session, I'll talk to the dental college near me.
Highs:
- Our first year in the house has been great! We did a lot of outdoor projects and everything looks great as it was much needed!
- I bought myself a cheaper new car that I'm sure I will have for over 10 years as I've only put 5K miles on it in 1 year
- My sister got engaged
- H's cousin got married, and his brother is engaged to be married in the spring
- We were able to sneak off for a long weekend away, otherwise no other trips this year...bummer
- We've been saving to our e-fund and retirement accounts pretty good
Lows:
- My grandmother passed away
- My father is in a big battle with cancer right now
- Health issues with my dog are up and down
December 23 all his concrete on the outside was poured so all major construction is done!! He just needs to level out the dirt on his lot, put grass seed down and plant a few trees according to city requirements. I'm just feeling so much better and he can finally do what he is meant to do and we can have much more cash flow now.
Regarding my business I got a few new students this fall and I hope to acquire a couple more. I haven't added up our gigs yet but I have a feeling it was more than last year as we had 4 in december which never happens. I hope to continue to grow on our gigs next year.
Regarding my yoga practice it's my life support - it centers me and helps me thru the most hard times of life. I feel like its almost a religion at this point. I know it may sound weird. I hoping to build on my arm balance transitions and continue to work on my inversions. I'm a very determined person and I'm getting stronger by the year.
-Finished paying off H's car
-Went to Italy with my parents, which was so much fun; my mission to break the ice was successful, and they are booked on a trip for just the two of them in July.
-Our first niece was born
-I finished my LLM degree
-I just bought a new car about 2 hours ago... I am obsessed, and we got an amazing price on it. It can basically drive itself.
Lows
-Like @labro we weren't great with sticking to our budget this year. It added unnecessary stress for most of the year, but we are finally all caught up. I'm determined to stay caught up and refocus on our spending for 2017. I want to practice the baby budget while TTC.
-No BFP yet - it's still pretty early, but I am not patient. It happened for my mom right away each time, and I assumed it would be that way for us too.
-MIL fell asleep at the wheel and had a wreck last week. Thankfully she is OK, but it was scary.
Overall our highs definitely outweighed the lows.
-paid off H's car loan
-purchased a pretty awesome new car
-H and I were privileged to stand up with my brother and new sister-in-law at their wedding
-great summer vacation/family wedding on H's side
-renovated our full bathroom
Lows
-took on another car loan
-it was a very expensive year between the new bathroom, new car, vacation, weddings, and other purchases. We regret how out of hand our spending got and are going to work on improving that in the new year. Compound this with my fears about financial planning for a baby and how things will change with our income/my job. Our marriage has also had some ups and downs this year.
-family drama
-when our new car was broken into
~We sold our rental property in June!! It was on the market for 6 months, and we got way less than we were hoping for, but with it being a 100-year-old house with some issues, we were happy to get it off our hands! That was timed really well in terms of our checking account dwindling after maxing out our Roth IRAs in April for 2015. Because we didn't have a mortgage on it....
~We maxed out our Roth IRAs for 2016.
~We added to my 403b account to max it out for 2016.
~We put a large chunk into each kid's 529 plan (so much so that I think we're done funding them)!!
~We put a good down payment on the van we bought in August.
~We invested in mutual funds.
It was fabulous to be able to do all of that because of the house sale!
~We took our first family road trip with our two kids (4 and 2 years old). Over 20 hours in the new van each way, but they did amazing overall, we saw family we don't get to see often, and we have some great memories!
Not-so-great things:
~Love our new van, but we now have a car loan (at 0% though, so that's good).
~Not pregnant yet, after trying for 7-8 months. I was hoping to be due before I turn 35 in July, but now I'm just hoping baby's due sometime in 2017.
~I really don't like my job and have been really stressed for a LONG time about what to do in terms of changing jobs/careers, since I'm the breadwinner and insurance carrier for our family. I'm stuck there for now, since we're TTC and need the insurance, but hopefully once I'm pregnant, I can figure out the timing of when to switch and start looking accordingly.
- We both got serious about spending time in the gym and eating better. H and I are each down 30 pounds this year.
- I set an income goal for myself this year and with the incentive check I get tomorrow, I beat that goal by $1500.
- We finished our first paint project in the house and we love it!
- Our spare bedroom turned office came out great.
- We had several pleasant visits with H's family. That hasn't happened in the 10 years we've been together!! That's a huge win.
- H's sister got married in April. We had a great time in Vegas with them and we love her H!
- My mom's most recent results came back cancer free!!
Lows:
- H's grandmother died in the fall. She was the last grandparent between us.
- We're both increasingly frustrated at work. It's been a really stressful year at work.
- We found out that we're not likely to move within the next 18-24 months as we hoped.
All told, we had a really solid year. I'm really looking forward to 2017. Q1 will be really busy for us, but the good kind of busy.
Healthy pregnancy
Healthy hip replacement for my mom with a quick recovery
Trip to the Netherlands
A work transfer for H that cut his commute in half and gave him better resume building opportunities
Paid off my car
Continued happiness with my marriage, home, and career
Lows:
My dad is suffering from an autoimmune disease that he's managing, but they haven't really found a cause or true treatment and it's really bringing him down
My MIL is also suffering from extreme knee pain that was initially misdiagnosed and is currently keeping her out of work, basically on bedrest
Politics in general
Politics causing strife within my extended family
We did a very bad job keeping to our budget until around October when we ditched the CCs
Some tough times with one of my oldest friendships
Overall, it was a pretty good year for us. We had a lot of changes and it was pretty good.
What were some really great things that happened this year?
What were some not so great things?
-Large tax refund
-Max out two Roths
-Paid off HELOC (but replaced the payment with a car loan)
-Did some small home improvement projects (new sidewalk & patio, replaced some yucky wood siding with vinyl)
Lows:
-Paying over $5,500 in medical expenses (infertility treatments, high risk pregnancy)
-Paying $2,500ish in funeral expenses when we lost our daughter
-MIL being diagnosed with breast cancer and having a mastectomy this week
I'm so glad 2016 is done!
- DH's school district continues to be wonderful. So happy he found a good place to work.
-DD#1 is doing great at school. MIL picks her up from the bus and that has been a life saver.. she was having a really tough time at after school.
-DD#2 is doing great with pre-k. She has the longest day out of all of us, but she's a little trooper. Looking forward to finishing up day care payments in June.
- Able to save for things- 529 plans, retirement, home improvements
- Got a brand new car for the first time ever- it has made a huge difference for traveling/work this winter.
- Have a decent plan to have everything paid off by my 40th birthday in 2021- we'll keep reviewing every 6 months to see how it's progressing.
- The 4 of us are happy and healthy- can't ask for more than that!
Lows:
- my cousin's son passed away from a brain tumor just a few weeks shy of his 2nd birthday. We think of him every day.
- new boss at work isn't very understanding of work/life balance. Having a tough time with that since it's never been a problem in the 13 years I have worked at my company.