21 in 2021 Challenge: Save $21,000

[plainjane]

19,600 added thus far in 2021 to the high interest savings account so that we reduce the likelihood we will need to pull out money during a large market correction once I am not bringing in a regular paycheck

[turtlegirl]

I DID IT!

Numbers are thru November

Pre tax income $47,155
Total saved $21,327

45.3% saved, hopefully a fair bit more in December with a final commission check for the year.

[Marcela]

Good on you!!

[plainjane]

that’s a huge percentage on your salary. congrats!

[Rhubarbsoda]

Congratulations! That’s huge!

[anomalily]

Congrats!! Make sure to fill in the form so I can mail you your sticker!

[jellaba]

@jellaba

Huh, completely skipped September update
Now End of October 18,325 Euro Should be on track

November is at its end, Now I have saved 19.600 Euros. I am more than confident that I will make the 21.000 goal as due to the covid situation in Europe my planned holiday (i was supposed to be in a Spa Hotel in Austria) is canceld and I will save that money.

In addition I was told I will receive an additional bonus in December. After a very successfull IPO in 2021 it is to be expected to be high in the 5-digits. Lets wait and see …

[anomalily]

Ugh I’m sorry your vacation was cancelled! I’m currently spending a lot more money because I have two trips planned to Europe in the next 4 weeks (Finland next week, Denmark at the end of December.) We’ll see if either really happen

[jellaba]

@anomalily

Ugh I’m sorry your vacation was cancelled! I’m currently spending a lot more money because I have two trips planned to Europe in the next 4 weeks (Finland next week, Denmark at the end of December.) We’ll see if either really happen

Austria is in Lockdown until Dec. 21. I am pretty sure that we will have at least a partial lockdown also here in Germany soon. Cases are exploding and hospitals ICUs are filling up.
I do not know about the situation in Denmark and Finland but Ihope, that you can travel there as planned. Keep my fingers crossed.

[nnls]

Thats an amazing percentage of your income! Awesome work!!

[Star]

We Did It!

November Check In

Mortgage Principal: $1003.31
Pension: 758.69
TFSA: 3000

Total Savings in November 4762.00

Year to date savings $43252.86

Still no backpay or raise from the employer. They have 90 days, which actually takes us to the end of January

[anomalily]

2021 YTD Update

YTD Pre-Tax Income All Sources (including employer 401K cont): $56,982.39

Total YTD Savings: $28,453.01

• Cash Savings: $9,427.35
• Traditional 401K: $16,091.16
• SEP IRA: $1,480.00
• Employer Cont: $1,454.50

Pre Tax Percentage YTD: 49.93%

YTD Savings: $28,453.01 - 135.49% of the goal!

I didn’t save any cash (just 401K) this month because going to Finland is freaking expensive and I had to put money in the travel fund.

[LadyDuck]

@LadyDuck

We have so much going on in 2021 but I’m signing up for this anyway. Failing spectacularly would be good for me.

Goal is $21k AUD. What I want to get out of this challenge is managing cashflow and keeping standard expenses low.

Superannuation doesn’t count because it’s government mandated, unless we decided to add extra. Bonus does not count. Money from tax returns DO count, even if they were from the year before. That motivates me to actually get the thing done.
Money paid out of the money we’ve set aside for renovation expenses is considered separate from “spending” for this, for us. That will absolutely go down and I expect to have less cash by the end of the year, but I’d like an extra $21k to put down on the new mortgage than we were expecting to have.

I have lost the challenge in spectacular fashion! First Ponder wanted a fancy laptop and then I went all out on getting shit sorted during the sales.

Based on my initial rules, we saved about $15,000.

If I count everything saved this year, including mortgage payoff, shares bought through work, bonus, etc, we got more than $42,000. So that’s about how much extra we’ve got for our renovation next year. Yay! I enjoyed the challenge, it definitely helped me think about my purchases and helped me use sales effectively for stuff I would have bought anyway, instead of procrastinating during sales or buying impulsively when there was benefit to waiting.

[noodle]

Heyyy, I made it! A lot of it was due to my EOY bonus but it’s based on profit sharing, so I like to think I’ve been earning it all year long

[anomalily]

YESSESSS! Congrats! Make sure you submit for your sticker!

[TrisPrior]

Let’s see how I did!

IRA: 1,374.00
Treasury direct bonds: 2,578.89
401k: $3624.24 if I can’t.
Various other savings buckets: 15,174.42

GRAND TOTAL: $22,751.55

Now, granted, some of that’s going poof for moving expenses, but I am still pretty pleased with this total. For context, I gross in the high $60s and my business grossed about $2k this year.

[jellaba]

@jellaba

November is at its end, Now I have saved 19.600 Euros. I am more than confident that I will make the 21.000 goal as due to the covid situation in Europe my planned holiday (i was supposed to be in a Spa Hotel in Austria) is canceld and I will save that money.

In addition I was told I will receive an additional bonus in December. After a very successfull IPO in 2021 it is to be expected to be high in the 5-digits. Lets wait and see …

So yes, did it without the extra bonus for 2020. I am at 21.350 Euro
The extra Bonus is ca. 12.000 Euro net, will be partly used for redecorating the kitchen but I budgeted for that anyway. (I budgeted 10K but it looks like it will be around 8-9k-isch)

[turtlegirl]

I got my commission check today, so I am going to do my year-end numbers a little early. Mostly just because I want to see them!

Pre tax income $67,920 (whoa)
Total saved $33,452 (whoa again lol)

This is the most money I have ever made, and a number I never expected to see to be honest. I am generally in the $40-45k range, so this is a little shocking.

49.3% saved for the year. I am super excited, because with working on commission I never know what I might make.

[mirepoix]

Awesome job

[CalBal]