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Post Your WINS with Personal Finance :)

LazyDaisy

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I wanted to create a megathread where we can share all our wins, big and small, regarding personal finance. Let's celebrate y'all! This is our unapologetic bragging thread! :)

Edit: If enough people participate then we can get this stickied. :)
 

LazyDaisy

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- I graduated from college in 2017 with $22k in student loan debt. I'm now down to $8k in 3 years' time and you want to know the total interest I paid? ONLY $1k! After 3 years I only paid 5% in interest!
- I sat down and wrote out concrete savings goals for emergencies (1 year's worth) and getting my first apartment. I'm 20% and 49% there respectively.
- I have 0 consumer debt with a high credit score (IIRC 760s) and am in the market for my first cash back credit card. I currently have a store credit card which I used only once this entire year. I'm trying to diversify my credit as that's the only fair marks I have on my report.
- I created a monthly breakdown of my paychecks so that I can see exactly where each dollar will go and it helps me keep track of when to pay certain bills.

I just feel so damn good y'all. I'm very organized with my finances and now I'm just hungry to build Build BUILD!! :b01:b02:b03
 

sonoko

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Congrats OP!!
I think my personal finance is that I now have 45K saved now not counting what I have in my IRA. I haven't really been saving this year. I can pay off my car but I think I want to wait another year and just do it then. I might upgrade, I am still unsure.

I have 780 credit score and so does my husband. We are getting our first house soon so that is good. We are trying to make the payments around the cost of what we pay now for a 1 bedroom apt ($1350, but will probably end up being $1500+).

I look forward to hearing other stories!!
 

Charlotta

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I paid off my credit cards, boosted my credit, and most importantly, started budgeting and tracking my spending. I know it's small potatoes compared to some of you, but it's a big deal for me. I'm proud of myself.
 

wussupdoc

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  • No more student loans! I paid the remaining balance in late August/early September
  • High credit score (though it did drop after paying off my loan)
  • No credit card debt (I pay in full every month)
  • I actually have an IRA (a lot of my friends don't)
  • I've been saving the amount I want to pay in mortgage every month and idk why it makes me super proud of myself
This is a great post, op! I've been feeling discouraged about buying a home lately, so posting my wins helps a bit :blush:
 

LazyDaisy

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I paid off my credit cards, boosted my credit, and most importantly, started budgeting and tracking my spending. I know it's small potatoes compared to some of you, but it's a big deal for me. I'm proud of myself.
These are fat potatoes hun! PF Wins can look like anything: paying off debt, increasing savings, getting a raise, starting a side hustle, etc.

I think they're all big at the end of the day because black people need to be on their Ps & Qs when it comes to personal finance.
 

LazyDaisy

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  • No more student loans! I paid the remaining balance in late August/early September
  • High credit score (though it did drop after paying off my loan)
  • No credit card debt (I pay in full every month)
  • I actually have an IRA (a lot of my friends don't)
  • I've been saving the amount I want to pay in mortgage every month and idk why it makes me super proud of myself
This is a great post, op! I've been feeling discouraged about buying a home lately, so posting my wins helps a bit :blush:
Yaaaass boo! I love this! I want everyone to feel good about themselves. Sometimes you don't even realize what you've accomplished. Then you sit back and think about it like damn, I DID THAT!
 

Lushlife123

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  • No more student loans! I paid the remaining balance in late August/early September
  • High credit score (though it did drop after paying off my loan)
  • No credit card debt (I pay in full every month)
  • I actually have an IRA (a lot of my friends don't)
  • I've been saving the amount I want to pay in mortgage every month and idk why it makes me super proud of myself
This is a great post, op! I've been feeling discouraged about buying a home lately, so posting my wins helps a bit :blush:
Wow, your wins are incredible and very aspirational :dance:dance
 

incogneato

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  • Kinda embarrassed about it but I went from a 453 to a 643 credit score this year. I'm really proud of what I paid off these past 6 months
  • I only have about 3.5K left (started from 7K) to release my transcripts so I can go back to school. I started paying it back in April
  • I get paid 50% more than what I did in 2019 and I live in an place where COL is lower. I love having all this wiggle room in my budget
 

not_today_satan

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As of this morning, I finally fully funded my rainy day savings fund! It hasn't even sunk in that I've accomplished this goal yet.

My next goals are getting rid of my student loans (about $27k) and contributing the maximum amount to my Roth IRA each year.
 
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LazyDaisy

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  • Kinda embarrassed about it but I went from a 453 to a 643 credit score this year. I'm really proud of what I paid off these past 6 months
  • I only have about 3.5K left (started from 7K) to release my transcripts so I can go back to school. I started paying it back in April
  • I get paid 50% more than what I did in 2019 and I live in an place where COL is lower. I love having all this wiggle room in my budget
Don't be embarrassed, it's still a win. That's a significant jump in 6 months' time. Proud of you! And I'm happy you were able to increase your salary while living in a L/MCOL area. That's a blessing.
 

incogneato

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I reached my savings goal $15,000.
I can pay off my second to last student loan debt next mont due to my savings.
I paid off 3 debts this year.
 

Lotion

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Since graduating college a few years ago, I paid off one of my student loans, opened a credit card without accruing any debt, and raise my credit score to over 750. I recently decided to open an IRA which I will do before the month is over.

I still have other financial goals, but I think I’m moving in the right direction.
 

DivineChoco

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The only upside of this year for me has been getting a hold of my finances. I managed to clear thousands of dollars in credit debt in 6 months. I am so proud of myself and the way I took charge of my frivolous spending habits this year. I also have raised my credit score from the low low's to a near 800 (Canadian) point credit score. I'm still a work in progress as I still have not reached my savings goal, but in due time. I seem to be heading towards the right path.

I also have been taking the time to educate myself in stocks and investing for the future. It is a lot of information to digest, but it definitely is well worth it if you're planning on building wealth.

Also congratulations to everyone in this thread on your achievements! It's nice to see others doing great as it inspires me to do so much more. :heart:
 

sankofaa__

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Paid off 20k of credit card debt and saved 10k for emergencies. Started putting money in my old rollover IRA account that was just sitting there. I'm graduating next year so I want to get as financially savvy as possible because I have a significantly large amount of student loan debt.

Next goal: stack up my emergency fund & find another side hustle so I can get a beautiful apartment & live the bougie life of my dreams.
 

Betterman31

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I have over $3500 saved in T mobile bank and get over $10 interest a month.

My credit went up to 640 this month and that’s is good for me gotta start somewhere
 

incogneato

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Really started focusing on the next 5 years financial goals. I was laid off in 2018 and once I started working again in 2019 I played fast & loose with my $ when I should have hunkered down more.

So for 2020 I have
Paid off $12K in CC debt(accumulated while laid off)
Hit a milestone with student loan debt - paid over 1/2 of total bal. $25K to go - will be paid off in next 2 years
Faithfully contributing to 401K, brokerage acct, & saving accounts. Finally set up auto transfer for the latter 2.
Refinanced house to lower rate & shorter repayment period
 

Zar33

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This is a great idea. I love seeing ppl pat themselves on the back. Unfortunately a lot of my peers are in a worse financial situation than I am, so I keep my wins to myself
 
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TiredoftheBS

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  • No more student loans! I paid the remaining balance in late August/early September
  • High credit score (though it did drop after paying off my loan)
  • No credit card debt (I pay in full every month)
  • I actually have an IRA (a lot of my friends don't)
  • I've been saving the amount I want to pay in mortgage every month and idk why it makes me super proud of myself
This is a great post, op! I've been feeling discouraged about buying a home lately, so posting my wins helps a bit :blush:
How do you make your IRA work for you? I had one but it accumulated no interest and when I pulled that money and put it in the CD, they took 10%. I lost big with that one!
 

Dreambigger

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I have over $3500 saved in T mobile bank and get over $10 interest a month.

My credit went up to 640 this month and that’s is good for me gotta start somewhere

I think I may open one of these. I just opened a HYSA not too long that is doing really well but maybe I can use the T-Mobile Money as an extra savings account? Hmmm....
 

NikKnackSkip

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I am expecting an extra payment from work next week and will use that to payoff my remaining credit card debt and save the rest for taxes.

I set up a secured credit card for my monthly fun money so I can only spend what I have and not go overboard.

My car lease is up in December and I’m going to use the extra money in my budget to beef up my savings so I can buy a rental property.
 

Betterman31

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I think I may open one of these. I just opened a HYSA not too long that is doing really well but maybe I can use the T-Mobile Money as an extra savings account? Hmmm....

I recommend it , it will give you 4 percent Apy on balances up to $3000 so once you have $3000 in your account that’s about $120 a year.

Anything after 3000 is 1 percent. So let’s say you have 4K in your account you will still get that $10 a month plus 1 percent from that extra thousand.
 

mumzelle

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Started with $1500 in Feb 2018 in the stock market and bought the dip in March this year when everyone was scrambling to take their money out and I'm at $xx,xxx now.

Have some returns of 150% since buying in March and some as much as 700% from 2018. Stock market is where it's at for me or disposable income.

All this is only for my child. Started for him. I am determined to give him a better life than what I had.
 

wussupdoc

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How do you make your IRA work for you? I had one but it accumulated no interest and when I pulled that money and put it in the CD, they took 10%. I lost big with that one!
I honestly have 0 clue about that. I let Betterment do what it does and hope it all works out
 

Loso1

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I reached my savings goal $15,000.
I can pay off my second to last student loan debt next mont due to my savings.
I paid off 3 debts this year.
I’m at 12k since March. I’ve never had that type of money saved. We’ve literally been Bs money for years. My goal is to keep saving minimum 1k each month.
 

incogneato

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Paid off $21K in student loan debt in one lump payment. The next month I paid off $12K in credit cards. This debt had been accumulating for years but I didn’t care because I knew one day I would make enough money to be able to pay it off.

I bought a luxury car and paid it off six months later.

Purchased a house in a HQOL area and paid it off within eight months. I did all of this prior to getting married. My husband makes good money but he makes less than me and idk! Lol

Im able to max out my SEP-IRA in one lump payment every year.

We consistently save between $30K and $60K every month.

I don’t have to worry about prices when I go shopping.

2020 will be my best year financially for my businesses.

I now make more money every month than I’ve ever made at any job. I’m proud of myself but it still seems surreal! Thankfully my bank account says one thing but I still have the mindset of someone who had to struggle and hustle for everything. I stay in my bubble for the most part but I’m also able to blend in. Our house is nice but our neighbors think we’re just a regular upper middle class couple.
 

Lushlife123

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Paid off $21K in student loan debt in one lump payment. The next month I paid off $12K in credit cards. This debt had been accumulating for years but I didn’t care because I knew one day I would make enough money to be able to pay it off.

I bought a luxury car and paid it off six months later.

Purchased a house in a HQOL area and paid it off within eight months. I did all of this prior to getting married. My husband makes good money but he makes less than me and idk! Lol

Im able to max out my SEP-IRA in one lump payment every year.

We consistently save between $30K and $60K every month.

I don’t have to worry about prices when I go shopping.

2020 will be my best year financially for my businesses.

I now make more money every month than I’ve ever made at any job. I’m proud of myself but it still seems surreal! Thankfully my bank account says one thing but I still have the mindset of someone who had to struggle and hustle for everything. I stay in my bubble for the most part but I’m also able to blend in. Our house is nice but our neighbors think we’re just a regular upper middle class couple.
4BF978D1-4F8B-4FF2-A9C5-A1F18F81CFBA.jpeg

Please tell me your secret
 

Sharap Its Ova

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I paid off my credit cards, boosted my credit, and most importantly, started budgeting and tracking my spending. I know it's small potatoes compared to some of you, but it's a big deal for me. I'm proud of myself.

It's never small potatoes, well done for making the effort.
 

wussupdoc

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Is that an app?
They have an app, but Betterment is a financial brokerage. Retirement accounts are their primary services, but you can do general investing through them and set up different savings accounts for various things or set up trusts. Some things are only accessible on the computer.
 
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My credit score is over 800. I'm shocked. Last time I checked it was years ago and I want to say it was around 760-780?

I paid off my damn credit card. I am still not used to seeing $0 on my credit card balance.

Before the end of the month I will have paid off my line of credit entirely and I will be debt free. I know I'll cry when that happens.

Rona made me really serious about my money. Switching from a consumer mindset to a savings mindset is hard and I still struggle but it's worth it.

My goals are to build my emergency fund and put money towards my RRSP.
 

LazyDaisy

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I got another win! I recently got a salary bump. It's not a lot, probably only amounts to an extra $100 per paycheck but I certainly plan on putting that into my savings account. :)
 

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I'm down to 7 grand in student loans! I'm glad to have a space to be happy about it.
 

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