Monthly Archives: December 2016

2016 In Review…

Before I post my New Year’s resolutions, I thought I’d mull over the things that went well for us this year….

– Got married (and managed to save the money we got for wedding gifts)!
– Maxed out BOTH of our Roth IRAs! Mr. Savvy had never contributed to a Roth so this is a big step for us.
– Spent $10,000 on new windows for the lower level of our house, as well as aluminum wrapping the exterior trim on those same windows. No more swapping storms and screens, no more painting trim, and no more breezes in the house!
– Hit the $100,000 mark in our net worth, and passed both the $50,000 and $60,000 marks in my 401(k).
– Ditched PMI in favor of a second mortgage. Also began self-escrowing our property taxes.
– Rolled Mr. Savvy’s retirement plan from a former employer over to a self-managed Rollover IRA account at Fidelity. Better investment options and lower overhead!

Made mucho dinero in account opening and referral bonuses… $300 from Schwab/MBNA, $300 from Sony/Visa, $100 from Citicard, $100 from Citibank, $100 from BankOne, almost $500 in ING referrals (thank you to all of you who let me refer you!). That’s almost $1,400, plus the approximately $1000 made in interest from credit card balance transfers.
– Mr. Savvy got a new job that has benefits and pays much better than his old one. He’s also happier with the new company.
– Paid off Mr. Savvy’s truck. Hopefully it will last a few more years!

And now the things we need to work on…

– Saving outside of retirement accounts. Our retirement accounts are kicking butt, our personal savings… not so much.
– Control my spending!
– Finding a way for Mr. Savvy to save more money for retirement since he no longer has an employer-sponsored retirement plan.
– Control my spending!
– Keeping up the momentum with the 0% balance transfers. Those have been a good source of savings for us, however I wouldn’t recommend them to anyone who can’t afford the hit on their credit rating.
– Control my spending!
– Better goal setting. I let myself off the hook this year with goal setting because of the wedding chaos and the merging of our finances. This year we need to buckle down and set (and meet) some financial goals!
– and, finally, control my spending!

I will post our year-end net worth this weekend, and my 2006 Financial Goals will follow shortly after. If you don’t see any goals from me, feel free to bug me until I post them!

The beauty of joint accounts

I’ve written before about how much I enjoy using ING’s multiple accounts feature to manage our money (one account for the wedding, one for tuition, one for property tax escrow… etc.), and how I recycle the accounts once I’m done with them, like the New Windows account quickly was renamed the Wedding account a few months back once the windows were paid for. I also have seperate account for franc suisse (I sell euro and buy francs with https://exchangemarket.ch/fr) for my mortgage which is in francs.
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