TWO WEEKS OF TRANSFERS || DEBT, SAVINGS, & INVESTING
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- เผยแพร่เมื่อ 9 ก.ย. 2024
- Hello everyone,
Welcome to this Transfer Tuesday video. The goal of these videos is to make sure we are making progress on all of our financial goals each and every week. So, I will be sharing the transfers we have made in the last week. We are currently working on paying off debt, saving for a 6-month emergency fund, and investing.
If you'd like to see our goals for 2024, you can watch this video:
• OUR 2024 FINANCIAL GOA...
These videos were inspired by Mary @PenniesNotPerfection
Please check out her Transfer Tuesday videos as well!
Other Channels Mentioned:
@FIRE_DrNinjaTurtle @gentlecharmbudgets @Lifeoverdebt
Thank you for sharing your goals with me!
Reminder that I am NOT a financial advisor. I’m just someone who is sharing my own financial journey and my own opinions on the internet. Find a qualified financial advisor if you have questions.
#transfertuesday #financialgoals #debtpayoff #debtfreecommunity #investing
Love your videos!! You help me stay on track as well. I transfered $73 to my emergency fund to get to my first month of expenses funded! First time in my life I've made this much progress.
Yay! That’s incredible! I bet the peace of mind you have now feels so good! Congrats 🎉
I paid off my line of credit and my credit card so I am debt free again. I want to stay that way.
Yes, yes, yes!! Congrats 🎉
Paid a little over $400 this week but the upgrade card which was at a starting balance of $3300 is less then $300 now!
Yay! You are so close to knocking it out!
Missed you! So nice to see your smiling face in my feed this morning. You’re doing great on paying down the debt, and I agree a slight pause to build the savings back up is a good idea right now. It won’t take you long to get back where you want to be, and there’s still half the year left. I’m glad you increased the retirement contributions, those pretax dollars are so valuable it’s hard to pencil out the benefit of not maxing out those accounts whenever it’s possible, and the slight increase will probably have very little impact on take home pay. I’ve grown weary of carrying the Visa and am strongly considering just paying it off this month. Although it’s a zero interest debt it absorbs my energy contemplating how much to pay it down and when to do so, and I just can’t seem to let it go and just pay it off before the rate burps, so I think it’s time to call it quits on carrying the debt even at no interest. Hubby disagrees but then again, he doesn’t worry his pretty little head about such things…
Thank you, Laura! I am very happy with the decision to up the retirement. It just makes the most sense right now ☺️
Hopefully we will replace the savings quickly and can tackle the again debt soon after!
I know how you feel wanting that visa done. I know it’s zero interest, but debt sucks no matter what, especially when it consumes your mind.
Katie, I totally agree with you that you should keep your emergency savings at the level you want during debt pay down or any other aspiration finance goal. That's the approach I have
Thank you! Having savings just gives me that peace of mind that I feel is necessary with finances ☺️
@@KatieoftheHouse I see that when on a long journey and then emergency happens, people feel so set back by that. way better strategy to set money aside (to like, a medium amount), and then carry on with the goals. Psychologically way better
@@TheahLil yes, yes! I completely agree! Whatever gives you the most peace of mind is best in my book ☺️
Changing the allocations of money to different categories is just part of life. Good job in your juggling.
So true! I need to learn that it’s going to happen whether I like it or not! Thank you ☺️
Hi Katie, great transfer Tuesday! Whatever you decide to do after rebuilding the savings is going to great, both are important!
Yes! They are both important, and it’s a hard balance sometimes. I am so motivated by the debt payoff progress that we’ve been making, so it’s hard not to go “all in” on that, but not having enough saved scares the crap out of me with only one income 😫
Happy Wednesday! Unexpected expenses seem to happen all the time but happy to have that money saved for the unexpected. Great progress as always!! Hope ur enjoying the summer with ur kids 💗
Yes, it’s a blessing to have that money saved when you need it, even if it hurts a little to use it. Thank you so much, Izzy!
Great transfer Tuesday as always! You’re crushing it and I hope you’re having a good summer! This week, we added over $250 to my new car fund and $300 to our joint brokerage. We’re so lucky we can save and invest for our future!
Love that perspective! Not everyone is able to invest and save for the future. It’s a blessing! Awesome work, Brooke 👏🏼🎉❤️
Hi Katie, I’m so glad you’re enjoying the Summer with your family. I 100% agree with building up savings. My transfers were a bit lower this week $100 to HYSA $ 100 to ROTH😊❤
You are still being consistent! Great job, Cat 👏🏼
Hope you're enjoying summer!
We're out and about with the kids now and using our vacation fund for it. No real transfers the last two weeks, just 2 x €8.09 weekly interest to EF. The rest is just using the vacation sinking fund.
Love, love, love that you are enjoying family time stress free because of that vacation fund! ❤
Happy Tuesday 😊 Great transfers! Congratulations to all those that were able to but a little extra to debt
In the last 2 weeks I was able to put $925 towards debt, $200 extra towards my car loan, and 5% of my income towards my TSP (like a 401k and my employer matches it )
Yay, Brittney! You have been crushing it lately! I’m so happy for you 🎉
I love the shout outs you give on your Transfer Tuesday videos!
I like your balanced approach to savings and debt pay off. Not having a strong emergency fund and sinking funds IS an emergency. Throwing everything you have at debt is great as long as "life" doesn't happen in the meantime. 😜
Yes, yes, yes! Not having savings is definitely an emergency!
Thank you for the shout out. I love transfer Tuesday
Of course! And thank YOU! 😄
Hi Katie. Awesome transfers. So glad you had a nice break 🌸💕 balance is good and it’s ok to refocus or change focus from time to time. I’m so excited because we paid off our oven loan earlier than our goal and were able to payoff the last $1695 in July! Now we focus on the next one. We were able to also save $700 to vacation with side hustle and travel pay.
Woohoo, that’s so awesome, Stef! Way to get after it. I’m glad you were able to put some money to travel as well 🥰
Awesome job on your transfers, and awesome job to everyone else with all the transfers. Hope you have a wonderful day
Thank you, Eva! 💙💙
Still focusing on debt payoff & savings. Investments are important, but just a feeling I have to focus on debt and savings.
Go with those gut instincts! Mine have been telling me to get my savings replaced asap!
Glad to hear you are enjoying the summer and posting less! What you said about 403b makes sense, might as well pay yourself than pay more in taxes! lol
Right? I’d rather have that money in the future than give it to Uncle Sam 😂
Great transfer Katie..listening while I work!!
Thanks, Melissa!
Your marginal tax rate is likely about 30%, even with state and FICA. Get the whole employer match, but consider waiting on the rest. Marc got excited with the Q2 debt progress- keep the momentum!
Yes, you nailed it!
Thank you! We definitely were excited about Q2 progress. I hope Q3 goes half as well 😄
Great ❤ Video Congratulations you are doing amazing with your transfers
Thank you so much, Heather! ❤️
I need to change things up to stay motivated so I would probably switch quarterly between savings and debt payoff. And I don’t remember if I shared this last time but we finally set up auto transfers to our Roth IRAs (150 each for me & my husband) and I set up the auto invest too. This week we saved 1,100 for a new car. We’re hoping to start trying for baby #2 later this year/ early 2025 and we’ll need a bigger car that can fit 2 car seats and me in the middle. Why are middle seats always soooo small??
I’ve thought about switching between savings and debt payoff each quarter, too! I do like changes and they keep me motivated.
Awesome job on the automatic transfers. I love gene you can just set it and forget it.
Ooof we bought out Chrysler (the one that broke down last year) when Owen was born. It sucked to make that purchase, but it is hard to find cars that will fit multiple car seats with ease!
I LOVE YOUR SHIRT OMG!!
Thank you so much!! 🤓⚡️
listening as I work on my August budget
August already?! Dang, time flies! I need to start working on mine, too!
@KatieoftheHouse I'm getting ready for vacation beginning of August. I figured I should work on it before I get to busy and forget
@@ShannonsBudgets yay! I hope you have a lovely vacation. And good call!
Yay❤❤❤
Thank you, Amy! ❤️❤️
Hi. Couple of comments. First I know you consider investing and savings separate, but they are quite related. And to be honest I don’t want you to lose your momentum on paying off the debt. Remember if you have another emergency fund and no funds left in your savings/ emergency fund you COULD borrow from the 401k balance. So what would I do in you shoes? Continue the debt and cut down the investing to just his employer match. Then put remainder in your savings account to you feel they are at the right levels for you. Then go back to the high investing rate you were at. Again look at these annually. I think you already have contributed thousands to investing this year .. now take the account value now (that includes the company match and see what the fv will be in 30 years. Missing 6 months of deposit won’t impact you . Keeping that debt will be more of an issue in your lives. Keep the debt payment going as strong as they have been!!
Thanks, Jon! I think we’ll be able to replace the savings by the end of August and it won’t impact the debt payoff too much. If we would take a long time to pay back the savings, I probably would pause the investing for a while.
I decided to just use the HSA to pay for most of Marc’s medical bills, so I still have a good amount in that sinking fund. I just need to replace what we took out of the emergency fund now, but I think I can do it without pausing the debt payoff. We’ll see!
Great job !
! Summer is flying! I’m glad you are time for you!
It’s flying for sure. Makes me sad 😭
@@KatieoftheHouse same!
Which HYSA do you use?
Capital one performance 360 I believe is the name of it ☺️