Earlier this year I announced my HUGE #Save21 goal. This goal was decided during a run where my endorphins were pretty high. It’s so big that it made me nervous to announce. Back in December, I decided to save $21,000 in a non-retirement account. Each week I have been slowly investing money into my new Vanguard account. After wrapping up January and February with only spending $120 of unplanned money, I have been able to save $4,100.
Break down of the $120 unplanned money:
- $20 spent for a local running race. I love to run but there were no races in 2020 so I forgot to budget money for running a couple local races. I have since updated my budget to give myself a total of $100 for races.
- $100 spent for two 15 pound kettle bells and a stability ball. After getting hit with a HUGE tax bill, I needed to make some expense cuts. I cut out personal training and my gym membership. This saved me $238 per month. Since I will be doing my workouts at home, I did need a stability ball for leg curls to keep my hamstrings strong for running and one more set of weights to complete my collection.
I’m currently on my third week of 100% trainer-less workouts. I’m feeling strong and haven’t missed a single workout. The motivation of having a local race will keep me going. Did I break a no spend rule? Yes I did. Do I feel bad about it? Not at all. The unplanned money was spent to invest in my physical and mental health after I reduced other expenses in that area.
Delays in investing:
- I have had to reduce my weekly investment contributions from $405 per week to $175 per week for 9 weeks. I’m one of the lucky ones that owes $2,462 to the federal government and I had exactly 9 weeks between preparing our taxes and paying the taxes to save this money. I refuse to sell investments to cover this bill. This delay is going to cost me to be short $335 in my overall #Save21 goal.
Overall, I’m proud of my efforts in saving. Mr. BMM and I opened a joint investment account this past weekend. We spent hours looking at stocks. Discussing the pros and cons to each stock. Planning out how many to purchase of each company. It’s been a lot of fun. This joint investment account would not have been possible if I didn’t start my first no spend year back in 2019 and got my financial life together. I am proud of myself that, while I learned the hard way, I still learned, I grew, and I’m crushing it!