<< Back to all Blogs
Login or Create your own free blog
You are viewing: Main Page

Savings Percentage Calculation

July 8th, 2019 at 09:33 am

I am having trouble coming up with meaningful ways of looking at how we're doing with savings.

Spending is easier. We have net take home pay, and we spend a certain percentage of it. I can track this every month.

But savings is different. Our take home pay is affected by pre-tax savings. My husband takes 15% out of his paycheck for his 401-k-like-thing and I set aside money from my business for my SEP that never is calculated into my gross at all. But this is a big part of our savings! If he didn't take out the 15% or if I didn't set aside the SEP money our net wages would be higher. So if I just ignore those sums, then it doesn't look like we're saving as much as we are.

(We also put the max in our Roths each month, but that is post-tax).

So is there a formula for figuring out your savings percentage?

I worked out our savings percentage is 20.7% of our net (but that only includes our Roths and some other misc. savings).

Our savings percentage of gross was calculated like this:
(Savings from net + 401k + SEP) divided by (gross salary + SEP). This assumes that the SEP would be salary if it weren't being saved.

That percentage is 26.3 which is more accurate I think.

Do you have a method for this?

Some Incoming Money, Volunteering, Summer!

July 5th, 2019 at 07:13 pm

The past few days have been good for both finances and decluttering.

I am working steadily on the garage. Some things posting on our local Buy Nothing group, and I'm selling others. I've made $65 in the past week, and got rid of even more by giving it away.

I got paid by one of the gyms I work for. This is a side job, and I get gym memberships to both gyms I work for. It's nice that I also get paid. At gym #1 I made $162 for March/April (they pay kind of late, but it's ok with me). At gym #2 I made $140 in June. The best part is I would be working out anyway. I love teaching this resistance training class; I am super attached to my participants. I taught yesterday on July 4th and everyone was appreciative, but honestly I wanted to work out, too.

I am also doing the NHS Couch to 5k podcast program. You do each level for three days, and this morning I did day 2 of the second level. I am not a good runner. But I do recommend the podcast if you want to start running and work up gradually to a 5k. And it's free!!

I also got an email from a new potential client today, so that's good news.

And F and I went down to the Plaza because she is doing her school's summer writing challenge, and one of the prompts was to observe someone on the Plaza and write a short story from their point of view. I just relaxed and people-watched. Lots of tourists this time of year! And next week there will be even more...

... because it's Folk Art Market time! F and I signed up to volunteer together. So if you are coming (and if you aren't, you should be!) come by the Lower water booth! Volunteering is a good way to feel like you are contributing and be part of things, and you also get a free ticket. Not an earlybird ticket, but our goal is to soak up the atmosphere rather than buy anything.

Financial Stuff and Pic of New Puppy

June 28th, 2019 at 08:44 am

Here is what's happening financially:

- My husband got a raise!!! This is a mid-year raise and very unusual, so we are really pleased! Tied to his excellent work (he is very, very smart and everyone loves working with him). His office is mostly women, and he's always preferred working with women. I am jealous!

- Our menu plan is full of yummy stuff this week. Which is cool because we are "eating out of the freezer and pantry." Tonight is salmon/black rice bowls (have all the ingredients). Then: stuffed red peppers, portobellos with red potatoes and corn on the cob, baked chicken taquitos with salad, corn/green chile quesadillas.

- Someone is coming to fix our shower door today. Everyone I spoke with on the phone insisted that the door needed to be replaced, but jeez - I'm an architect - I told them that it was pretty clear what the problem was if they saw it (needs new shims on another part of the door). The problem is the minimum for a service call. So it'll be $100. Ugh. I would fix it myself but the panel needs to be removed and put back on. No thanks.

- Looks like our 21 year old water heater also needs to be replaced.

- I sold something on craigslist and looks like another thing is selling today. The first item was $20, and the next is $30. Fingers crossed.

- I got paid by the gym. Hoping for gym #2 to pay soon.

- F's school payment went up, but we were able to budget for it.

- F got new sunglasses with birthday money from Grandma and Grandad. She looks very cool. Teenagers need sunglasses (and you need them here at 7000' elev).

- F also needs new running shoes. Luckily we have a budget for sports supplies. These are not shoes to hang around it, but strictly for track and x-country.

- We got a new puppy! She is 8 months old and wonderful. A pet is not an inexpensive proposition, but very worth it to us. (We got her from the shelter - their fee is $45; puppy training classes are half price if you have a shelter dog so that was $100). Like a lot of shelter dogs, she is very, very grateful to have a home.

More Grocery Stuff (and Cholesterol)

June 26th, 2019 at 04:53 pm

More meal plan woes...

So I had my checkup, and the doctor did a blood test, and she wants me to lower my cholesterol. I need to point out that:
- I am not overweight (I weigh about 110 lbs and am 5'-2")
- I don't drink alcohol
- I don't eat red meat (or any mammals)
- I don't eat processed foods at all (except tortilla chips from Trader Joe's), not even cereal!
- I don't ever eat fast foods (and rarely eat out)
- I do eat fish
- My diet is full of vegetables and fruits
- I don't drink fruit juice
- I exercise regularly (min. 4x/week)
- I don't smoke and have never smoked
- I eat a variety of grains (brown rice, buckwheat, sorghum grains)

I do:
- eat cheese and sour cream (but I am reducing massively as of this morning)
- eat a couple of eggs a week (maybe 3 per week)

Imagine how high my cholesterol WOULD be if I didn't have the lifestyle I already have!

Going to try to cut the dairy and exercise another two days/week. Also add fiber (she said vegetable fiber isn't enough, so recommended psyllium husks).

This may have a positive effect on our grocery budget since I'll be buying less dairy.

But I've decided that our budget is probably normal (or even a little low) after looking at the USDA's standards. I feel like it's high, but maybe that's just because I'm watching our grocery budget rise a little each year. I just need to face it, right?

Trying to Save $ on Groceries

June 16th, 2019 at 05:31 pm

I am trying to save money on groceries....

Here is what we already do:
- meal plan/make a list
- don't each very much processed food
- eat generic
- no prepared foods unless it's a special treat
- no prewashed salad or precut carrots or fruit
- no pre-grated cheese
- we eat mostly vegetarian (some chicken, fish but no meat/pork/lamb)
- we waste almost no food
- F and I drink only water; we never buy juice or anything like that
- we only shop once a week
- I cook from scratch

What I won't skimp on:
- we buy some organic (strawberries and a few other things)
- we buy organic eggs
- I buy a lot of fresh fruit and veggies for snacks for F
- I like to be generous with guests (like my friends or F's friends when they come over)

I am trying to figure out why our grocery bills are so high... Here are some ideas:
- we buy GF bread and bagels (about every 2 weeks; we aren't big bread eaters) and GF pasta (pasta once a week) and GF oatmeal which are more expensive
- nuts (but if I don't buy nuts then F's snacks would be empty calories)
- we don't eat out a lot so we have to buy more groceries
- dairy; because we don't eat meat, we eat more dairy
- we don't have an Aldi here
- we don't use coupons (because they seem to be only for processed foods)
- D's coffee and beer (but having these at home is less than getting these at Starbucks or a brew pub)
- it takes us a long time to go through milk/almond milk so we can't use the whole thing before it's spoiled (otherwise, very little waste)

Some ideas to fix the problem:
- one week a month could be eat out of the pantry/freezer week (but I'd still need fruits and veggies)
- better meal plans
- less dairy

Maybe groceries are just more expensive than they used to be.... What do you do to save on your grocery bill?

Saving Money to be able to Spend Money

June 5th, 2019 at 08:55 pm

Some of you know me, and so you know that we are completely debt free (even mortgage); I wouldn't have done this back when we were paying off our mortgage. But sometimes I save money in one area just so that we can spend it somewhere else. (PS - we also save a ton for retirement, and everything is budgeted).

I am thinking about this now because F and I just went to Disneyland, and Disneyland is not a cheap place.

Here's how we saved-spent-saved-spent...

- We did only one day at Disneyland but we bought F the super cute $30 mouse ears
- Besides the mouse ears we did not do any shopping but we did a TON of photos so those were our souvenirs (be sure to write down the codes for the photos on the rides and link them in the photo section of the Disneyland app)
- We stayed at the Disneyland hotel for two nights ($$$$!) but the rest of our trip we stayed with my parents so no hotel cost for most of the trip
- We brought food for breakfast/lunch so that we could have one super nice meal out (Blue Bayou)
- We are not going to Europe to see D's family this summer so that we could afford splurging on Disney tickets
- D did not go on the trip for several reasons (work, isn't a Disney fanatic like me and F, can't go on the rides, didn't want to come for my SIL's baby shower which was the real reason for the trip) so we saved his airfare and Disney ticket so we were able to add California Adventure to our tickets
- We brought our own snacks so we were able to buy each a gf red velvet cupcake from Sprinkles (yum!)
- I did a ton of research on how to do Disney so we were able to go on everything we wanted to go on TWICE! We were there from 7 to 11, and we're still exhausted, but it was so much fun!

Just FYI - yes, Star Wars was open, but neither of us likes Star Wars, so we didn't do that. But because everyone there was so into the new Star Wars area, the rest of the park was pretty empty. We never waited more than 10 mins. for a ride (used fastpasses in some cases), and got take photos with Mickey Mouse (my daughter's favorite - she is nearly 14 and actually cried at Fantasmic because she loves him so much). We rode Small World ALONE and I sang at the top of my lungs!

Do you ever trade off your spends and saves?

Summer Project: Clean Garage

May 21st, 2019 at 03:45 pm

I am getting closer to a clutter-free garage. It's not easy, though. Tonight's fun: going through the hardware/tools section of our garage which has expanded and is now pretty insane. I am going to confess that this is my area and not my husband's. He is not allowed to touch my power tools!

I have a bad habit of saving all sorts of stupid stuff - extra screws, extra anything. I have a box called "random parts" that I haven't opened in YEARS.

The hardware section is about one entire shelf and includes old spraypaint and half used tubes of liquid nails that are hard as a rock. I actually think keeping some of this stuff COSTS money because if that shelf is so packed full of stuff, you don't check it before you buy something you already have. If it was more streamlined, it'd be easier to see what we've got.

I already got rid of one thing in the garage today on our Buy Nothing group.

And I put in a call about getting the rest of our garage drywalled (this is an expense, but I am going to paint it myself). Drywalling the last garage wall and the ceiling will add value to our house and make the garage easier to keep clean.

Don't get me wrong - this isn't the worst garage in the world. We can get both cars in. So that's good. But on my journey to have less stuff, this is pretty much the last stop. My goal is the end of the summer, and hopefully the timeline will be sped up by setting up a date to get the drywall done.

May is Always Busy!

May 19th, 2019 at 04:31 pm

May is always so packed full of events! I am taking one day at a time...

Here's what's going on:

- Middle School Musical - this past weekend was the middle school musical, and F was in it... They did a performance for local elementary schools, then two public performances. We went to both, and the kids did a great job! Instead of buying flowers, I got F a little plant at Trader Joe's and a bag of dark chocolate peanut butter cups. We're not really cut flower people, and this will last a lot longer (well, not the peanut butter cups!) so in my mind a better buy.

- Friends Moving - So my best friend is moving out of the state, and her daughter is F's best friend! More like a sister really. Anyway, my friend M's husband already moved (he had to start his job in January) and they are following in June, which is right around the corner! (Crying). M went out to California for the weekend for a big work event for her husband, so we had her daughter all weekend, which is great for the two girls. I had to buy a ton of extra groceries, and I don't even care. Thinking of it as a gift to F and her friend. I will take the girls to school tomorrow; right now they are upstairs singing together.

- Garbage Disposal - I installed my own garbage disposal instead of hiring a plumber, and I want to let you know I'm pretty sure I did it better! When I took the old one out, I noticed it was screwed in at an angle, and mine was perfectly straight. It is a lot quieter (which could be that it's new, or it could be that it's put on straight!!!).

- Mother's Day - We didn't do much for mother's day, but F made me an amazing scavenger hunt - so much fun!! That's the kind of gift I love!

- Dinner - Tonight's dinner is Bad Breath Pasta (well, that's what we call it). It's my easiest dinner and pretty frugal... pasta, spinach, kalamata olives, capers, balsamic, olive oil and garlic. Maybe we'll have it with toast or garlic bread...

And that's about it...

Random Thoughts - Camp, YNAB, Dishwasher, Cleaning the House

April 26th, 2019 at 07:56 pm

Friday night... I am pretty tired from the week, and need to go to bed early to be up at 5 so I can get my daughter to school at 5:45 to catch the bus to a track meet.

I have been pretty successfully working with my 4 day work week (plus 5th day housecleaning/grocery shopping) so that I can have an actual weekend. I work super hard those 4 days. Today wasn't as successful; I managed to clean the kitchen and dining room and go to one store. So after I drop off F tomorrow for track, I'll do the rest of the house, and then we'll drive down to the meet to watch her (1600m and 400m relay).

I got frustrated with YNAB and decided to just track on a spread sheet. It's a pretty complicated spreadsheet, and it seems to do what I need it to do. I also added expenses v. income. It works pretty much like YNAB on a summary page, and I can easily keep track of what is in my categories.

So I can see we have $1866 in the household repairs category which is good because we need a new dishwasher. I've been researching, and it looks like our price range is about $700, but it seems like all of the dishwashers have problems. The Bosch that looked promising has a SMELL and I am super sensitive to smells. It doesn't fully dry the dishes either. Our current dishwasher stops mid-cycle so you have to be there to turn the dial or it just keeps running. Not great. That and the dishes are often not clean. You have to clean them before you put them in.

We have $1874 in the Camp category, which is a lot because F did just one camp last year. I've put down a deposit for karate camp already. Her friend is doing a creative writing camp in CA, and I thought we could stay with my brother and it would be perfect (F looooooves writing) but the mom said "Oh, and it's reasonable, too - just $2500" and I felt like I was having a tiny heart attack. Was she serious? The camps F has done are $250/week at the most!

If anyone has any camp ideas for teenagers, I am open to them!

Once she's in 11th she can get an internship where my husband works (they even pay!) and it's a very, very cool place. But right now she's at that in-between age (just before 9th grade). She's not a counselor, but too old for most of the camps near us. We aren't near a university.

Those are all my wandering thoughts... I am off to bed so I can get up early!

Thinking about Banking Differently

March 19th, 2019 at 09:16 am

So it's Spring Break!! D had to go to the UK to see his parents, but there wasn't enough for all three of us to go, and F has soccer and track anyway, so she and I are having a staycation.

Try explaining that to my clients, though! I've had to do at least some work every day. Thankfully, I can do some work while F is at practice. And she is also working on a musical about the suffrage movement (no, not for school; yes, she is a super focused person), so I try to do work while she's doing that.

I still haven't finished our taxes (I probably have one more hour to finish up - grrrrr).

And I am trying to figure out a workable banking system for us. My local bank is being bought by another bank, and I am seeing some really annoying changes. I have a business online account with Barclays and personal accounts with Capital One 360. I am thinking of opening an account with HBSC because they have an opening bonus, sweep money into there to earn some interest, and then using it to move money back and forth from our personal account so we earn some interest on the money we don't need right away. Specific categories we let build up are: household repairs/projects, vacations/rewards, camp. I could sweep in a lot of money, and return it to our account as necessary so that the bricks-and-mortar bank will act only as a check-writing bank. Have any of you done this?