2019: The Official Savings Challenge

Happy new year, everyone, and welcome to the 2019 YNAB savings challenge!

All are very welcome to join in, no matter the size of your goals or savings purpose. Claim your line on the spreadsheet and then post your goal to this thread, then check in every month to update your progress on the spreadsheet and the thread. If you have a journal, you can also link this on the spreadsheet. 

2019 Savings Challenge Spreadsheet

A special thanks to @Budget_Ninja for creating the spreadsheet and to speaking_of_art who is taking a second year as steward of the spreadsheet.

The 2018 savings challenge total is not yet completed, and there will be people still posting their final updates in early January, but I can see that as a group YNABers from both forums saved in excess of $760,000 (US $).  That is outstanding!

Let the 2019 saving begin.

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  • Late on my October Update, but here it is! 馃巸

    • Retirement: $5,000.00 / $6,000.00
    • New Car: $5,314.24/ $6,000.00
    • Investment Accounts $2,251.00 / $1,300.00
    • E-Fund:$5,264.87/ $6,000.00
    • Total: $17,830.11/ $19,300.00
    Reply Like 2
  • Oct check-in: I was able to save just under $890 this month, below what I usually can save. Still spending lots on repairs for our electrical storm, and waiting for insurance to process everything. Hopefully, I will feel less behind after all that is done. One month at a time.

    Reply Like 1
  • November Check In

    $386.20 in additional income in October:  $161.19 in reimbursable expenses, $73.01 in interest, $25 in redemption rewards. $15 from survey candy, $10 gift, and $102 in lottery winnings.

    $2,000 budgeted to the categories I count in this savings challenge  when I budgeted the month of November, bringing my year-to-date total to $34,650, which is 108.28% of my stretch $32,000 goal.

    Reply Like 4
  • I didn't have a savings goal, but I did want to get out of the paycheck to paycheck cycle with YNAB. When I started in Feb 2019, I had like $800 in checking and $6k in savings and no debt. Now I have:

    $11,400 in checking

    $10,300 in savings

    All that $ has a job to do, so I never feel like I have $ to spend beyond what is budgeted. Those balances will change with Christmas and upcoming medical stuff or whenever I pay an annual bill I was saving up for, but I'm SHOCKED at my accomplishment. I've never saved money for anything ever (what was in savings was a windfall, not from actually saving), so at my age (now 44), I had given up on ever being financially responsible. Next year I HAVE TO contribute to retirement (I didn't this year), so that will be my goal.

    Reply Like 5
      • QC
      • HaplessFinanceProfessional
      • Queenofcoin
      • 3 wk ago
      • Reported - view

      xgirlmama Wow what an accomplishment!!  That's some fantastic dedication and perserverance there, CONGRATS!

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      • xgirlmama
      • Purple_Griffin
      • 3 wk ago
      • Reported - view

      QC thank you! 鉂わ笍

      Reply Like
  • November Check in

    I was lucky enough to complete most of my goals in September and combined with November being my Christmas shopping month (AOM went down 30 days) I didn't have as much enthusiasm to save this month.

    That being said, total saved for the month was $1,228.72.  I have now met my Car Replacement fund for the year and am 80% of the goal for the London trip.   I'm not relying on a bonus next month but IF it comes, it will go towards some ambitious savings goals for next year.  

    I love my new confidence in being able to save!

    Reply Like 3
  • November came in with a bang and I had to cut my New Car Savings Goal Short. Literally the wheels fell off my car (brings new meaning to the phrase people use) and I had to buy a new to me car. Still needed to take out a loan, but it could have been much worse. I ended up being able to put a 14k down payment on a used 2018 Prius.

    RIP my Toyota Corolla, you were taken too soon by Rust. 馃槩

    Even with this set back I still reached my overall savings goal a month early.  My investment accounts are looking pretty nice with the extra inflow of money at the end of the year.

    • Retirement: $5,500.00 / $6,000.00
    • New Car: $5,814.24/ $6,000.00
    • Investment Accounts $2,851.00/ $1,300.00
    • E-Fund:$5,374.61/ $6,000.00
    • Total: $19,539.85/ $19,300.00 馃帀
    Reply Like 3
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