Fall 2015 Financial Plan

As of my mid-September paycheck, I will finish contributing to my retirement accounts for the year. There will still be some dribbles of match from my employer each paycheck for the rest of the year. I estimate that I should have about $20,590 of money available for savings throughout the rest of the year. This comes from selling ESPP in October, my bonus at work, and my regular paychecks, including two months of paychecks with no Social Security tax, a $1,400 savings!

First, I plan to re-build my general savings account up to a year of non-travel expenses ($30,000). I need about $15,788 to do that.

Next, I want to top up my grad school savings account to cover my entire expected cost of grad school. $2,760.16 more is needed for that. I’ll probably top this up once I have $20,000 in my general savings account, in October.

That leaves $2,041.84 remaining and I plan to just put that into my general savings account since I’ll take my 2016 Roth IRA contribution out of there next year.

My fall finances are going to be pretty boring, just stuffing a bunch of money into savings accounts!

Note: As part of my project of reclaiming time for grad school starting this month and reducing my time spent on the details of my finances, I’m going to cut back on the net worth and spending updates. I will probably keep them up in some capacity, but not monthly like I have for the last several years.

Readers, what do you have planned with your money for the fall?


26 thoughts on “Fall 2015 Financial Plan

    • Good! I should have my cash reserves back where I want them by the end of the year as well, which will help make me ready to frontload my retirement accounts again!

  1. I maxed my 401K out with my last paycheck, and Mr PoP’s will max out after 2 or 3 more paychecks I believe. So we’ll have more after tax dollars to throw at taxable investments – that is, as long as we stop spending so darned much on our renovation. Which, hopefully, we will. =)

    • Nice! Those darned renovations always going over budget ;) I feel like almost every renovation so far has then required paint touch ups!

  2. Riotous living!

    Though I have to say after transferring that big lump sum from savings to checking and then still having checking drop down to just over 2K (because we’ve spent a LOT of money), I was happy to see it get back up to just over 9K with the addition of rent payments (along with DH’s paycheck). So I won’t be needing to transfer money over this month. Eventually reimbursements should start flowing in as well, which will help. Plane tickets for work add up!

    I maxed out the 2015 403(b) already, and the 457 is set to max out with my little half paycheck. We’re still deducting 1K/mo into the 529 plans.

    I am still without credit card. Apparently Citicard #3 is lost in the mail– if it doesn’t come today I will have to call them again and request that they fedex #4. I should be getting the Capital One card soon. I’m starting to worry about auto-payments failing, since it’s been over a week since my regular card has expired.

    • Yay for riotous living! :D And for rent payments and DH’s paycheck boosting your checking!

      I have gone through 5 or 6 of one of my credit cards in the two-ish years I’ve had it, mostly due to fraud, which is insane! I’m so glad I have no credit card auto-payments anymore. I read a tip somewhere that you should use one credit card just for auto pays and for nothing else, which should reduce your likelihood of it getting canceled due to fraud.

  3. This year has been better than expected with a big promotion and a big raise as well. I just put together a plan for the remainder of the year that will have us saving an additional $20K over our goal. We will have saved/invested close to $95K by the end of the year, which is a new record.

    Going to miss the monthly updates :(


    • Nice, congrats! I had one of those types of years a couple years ago and took full advantage of it, paying down a HUGE chunk of my mortgage :) Congrats – $95k in one year is huge!!

      I’ve been doing monthly updates privately since August 2010, writing down the numbers manually in a document on my computer, and publicly here since January 2012. My most recent private monthly update was in June and there was no August update here. It’s a lot of work! I’m still tracking my spending and savings, but skipping out on this step of work.

      I may still update the Financial Stats page monthly like I have been ;)

  4. Replenishing the emergency fund, and then throwing everything into my 457 plan to max it out for the year, leaving me with almost zero paycheck. Fingers crossed that we have some renters in our new property soon to take care of the new bills.

  5. Our plan is super boring: Do the exact same thing we do every single month, unless we received a bonus. :-) 401(k) auto investments, Vanguard index fund auto investments, tiny bit into cash cushion. The bummer is that we won’t hit our targets this year, most likely, because of the market correction. We know it’s better to buy shares at a discount than to hit our targets, but it just feels so good to reach those goals, you know? ;-) Alas, we still have a few more years until we pull the plug, so we’re not worried.

    • Boring plans are the best though! ;) It sounds like you are setting net worth/investment balance targets? I try to only set targets that are in my control, i.e. save $X in retirement accounts, make $Y in extra payments on the mortgage, have $Z in savings, spend no more than $A throughout the year, etc.

      • Yes, we definitely set net worth/balance targets, since we’re so close at this point to early retirement — of course they are in addition to savings targets! But yeah, we have a number we hope to hit by the end of 2017, though we’re committed to quitting even if we don’t hit it, and so it’s a major WOP WOP if we feel like we’re not on track. We’ve hit our numbers every year for the last five, so this year will be a first, though not for lack of trying on our part!

        • I suppose that is fair if you’re so close to retirement! It makes it a bit of a moving target though and that would drive me nuts… I am still ~$800,000 away from my current FI number, so I’m not tracking that too closely at this point!

  6. Sounds like a great plan. I finished contributing to my retirement accounts in September as well. The rest of the year I will contribute to my after-tax brokerage account and maybe pad my cash stash a little as well.

    • Thanks! That also sounds like a great plan! :) Cash is great because you can always change your mind about it later and do something else with it.

    • Oh, thank you, Angela! I’m glad you enjoy them :) I’ll see what I can do. Maybe I’ll try skipping some of the detail and the chart or something to make them less time consuming or not try to do them right on the 1st.

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