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Back again, saving like crazy!

February 25th, 2012 at 02:40 pm

I have been at my new job now for 6 months. I haven't blogged in a while and thought I should start going again as it helps keep me focused on the finances. I have managed to save $13,000 to savings! In January, I started putting the max into my employer retirement plan. My employer puts in 8% of my salary regardless of my contribution. Everything is being put into Roth savings so I am able to save more than the $10k that my husband and I would be allowed to be put into Roth accounts outside of an employer plan. My goal for 2012 is to save $3000 per non-summer month in addition to retirement savings. January and February savings goals have been met!

We have two big expenses coming up that I have been saving for: 1) summer salary replacement for my spouse who does not get paid a full salary in the summer - he teaches. 2) A French drain and retaining wall as our current one has rotted and partially collapsed from water damage.

After living for years on a very tight budget, it is so incredible to be able to increase our savings and have extra spending money. I am now trying to let go a little of my frugal tendencies. I did buy a new tv stand/entertainment unit to replace the old coffee table we were using, but I just can't justify buying a flat screen tv that everyone thinks we should get when the standard model we have works just great. The cable guy couldn't believe that we did not have any flat screen tvs in our house. We also now eat out every Friday and take turns picking the restaurant. This has been so much fun and so enjoyable. Pre-the-new-job, the most we could afford to do was to go to the cheap family place on rare occasions.

5 Responses to “Back again, saving like crazy!”

  1. rob62521 Says:

    Wow, you are doing great on your savings! Congrats!

  2. Joan.of.the.Arch Says:

    Hey, glad to hear you are well employed and have the savings in high gear.

    That's funny about the TV. We expect to use our chunky-clunky rabbit-ears TV for years to come.

  3. Ima saver Says:

    We have 3 tv's in our house, none of them are flat screen. One of them is about 30 years old and works fine. Of course, I don't have a cell phone either, nor do I want one.

  4. frugalgirl Says:

    Ima saver,
    We have three tvs, too (22 yo, 20 yo, and 5 yo). One thing my DH has been wanting for years is a smart phone and, when I started working again, I gave in and let him have this luxury. Paying the bill each month about kills me though as I think it is an expense we can certainly do without! We had the bare bones pay-as-you-go phones before for emergency purposes. With little kids and a long commute, it was worth the money to have those in case of a break down. My 13 yo said he doesn't know any other kids that don't have their own phone. I don't know why he'd need one.....

  5. Jerry Says:

    We are one of the only (American) families I know in this area without a flat screen TV, too. In fact, we have an old loaner TV that isn't even plugged in. If we want to watch something we usually have some insurance that we can catch it on the computer, but we don't watch regular TV anyway. I'm in school and working my tail off, and that just leads to not a lot of TV time.
    Jerry

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