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It’s a Struggle but Also a Progress

July 7th, 2019 at 04:58 pm

Washed and colored my hair, saved myself $60. I do have to go in on Wednesday for a relaxer and and cut 🤦🏽‍♀️🙄. Wish I could do this myself but oh well.

Today was a no spend day. I’ve actually had seven (7) no spend days this month. I did buy one item that was not necessary, a float for the pool, I already had one, so I took it back. Got my $3 back.

The best thing I could have done was create sinking funds. I was invited to a birthday party for an old friend, who I love dearly. Even though we don’t talk regularly I would not have missed her party. Anyway, I had the money in the sinking fund to get her a gift, one of my favorite wines.

Also last week, I had the funds for my oil change 😃. Now it’s time to renew my professional membership, cost is $200, I’ll submit for a refund on the job, but if I’m not issued the refund I at least have the money.

Without these sinking funds I would have used a credit card. I’m so proud of myself.

I spent my afternoon balancing my accounts. One thing I noticed on the Vanguard account is an in and out, something called Swipe, what does that mean? Also, SO opened his retirement account, right now it’s $20 a week and we will gradually increase.

My net worth has decreased a little, I can’t wait until I’m able to see a positive number vs a negative one.

It’s a struggle some days but I do see the progress.

12 Responses to “It’s a Struggle but Also a Progress”

  1. AnotherReader Says:

    Swipe??? Never heard of that. Are you sure you have a Vanguard account???

  2. AnotherReader Says:

    This should be your log in page. Something is wrong if it is not.

    https://investor.vanguard.com/my-account/log-on

  3. rob62521 Says:

    You are wise to have those sinking funds so you can pay cash for these items as they come up. I've been cheering for you as you go along, Amber!

  4. creditcardfree Says:

    I'm not sure what Swipe would be with Vanguard either, I don't even know what you mean by in and out.

    Nice job on those sinking funds! Sinking funds and an emergency fund are a game changers.

  5. Amber Says:

    The in and out, shows my contributions, there is a line item that says swipe. For example it’s
    Contributions 33.50, then
    Swipe -33,50

    I did use the link another reader shared and was able to log in. The account is a Roth, not a traditional IRA

  6. AnotherReader Says:

    Why did you select the Roth option? If your taxable income will be lower in retirement than it is today, it usually makes sense to use a traditional IRA and take the tax deduction now. There are required minimum distributions when you reach 70.5 years, but the tax benefit is often more valuable.

  7. Amber Says:

    I selected for before I knew more, I’m now contributing to the rollover

  8. AnotherReader Says:

    It would be better to contribute to a separate traditional IRA in case you ever want to move the rollover into a 401 (k) with another employer. You might be able to recharacterize the Roth into a traditional IRA and put the money there. I know this is very confusing at first, but it will become easier. Best to figure this out now, while it may be possible to fix it.

  9. creditcardfree Says:

    I still have no idea what swipe is. Are you doing this on a mobile phone?

    AR, I think the amount of her rollover is rather small, so while she is losing out on a small option to put into employer account, she has at least started her retirement. This is a very good thing.

  10. Amber Says:

    I’ve sent a message to Vanguard to find out what this is. I’ll keep you guys posted, thanks

  11. Jenn Says:

    I suspect that it's just showing the money being invested or moved from the money market account after you contribute, but it's good that you asked them. I have a vanguard Roth so I just checked it. Mine does show what you call 'in & out' but it doesn't say "swipe". Instead it is "contribution" and "investment".

  12. creditcardfree Says:

    Good idea to check, but overall sounds like you are good. I still don't see in and out on my Vanguard accounts. I'm on a laptop, are those of you seeing the in and out on a tablet or phone?

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