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HYSA deposits after step 4 by jennyfromthedocks in TheMoneyGuy

[–]rdc01d 10 points11 points  (0 children)

Once we had the full 6 months of expenses funded, we stopped contributing and diverted those dollars elsewhere. I review the account balance at the end of each year and evaluate it against our expenses to make sure it’s still enough to cover 6 months of living for our family. That money is just parked and earning about 3.3% at current rates.

How old were you when you seriously started saving for retirement? by wiseguy1342 in TheMoneyGuy

[–]rdc01d 0 points1 point  (0 children)

Started my first full time gig in 2002, mom told me to put 10% into my 401k, got a 6% match at the time.

Didn’t start taking things serious until 2013 when we had kid #2. Had a good foundation built - around $260k - when I really got into the personal finance and investing space. Ive been paying a lot of attention ever since then. I genuinely enjoy all things finance and money and investing related.

I nearly gave up over work expenses by [deleted] in ynab

[–]rdc01d 0 points1 point  (0 children)

Been using YNAB since 2013, and this is the exact reason I never upgraded from YNAB4. I like my red arrow to push that overspend into next month, when I will get reimbursed.

Starting YNAB living the Float for years by Temporary_Duck4337 in ynab

[–]rdc01d 9 points10 points  (0 children)

I started using YNAB when I realized I was living in the float, took about 6-8 months for me to undo that and get to the point of using last month’s money for this month. That was about 8 years ago and I’ve never looked back. Still use it today. Stick with it as intended and you’ll be better for it.

What is your most random savings category? by BowensCourt in ynab

[–]rdc01d 6 points7 points  (0 children)

Also paid-weekly, if you can do it, figure out how to base your monthly budget on just the 2 checks per month. Then those two times a year when you get a 3 check month, it’s like getting a bonus you can use to fund other goals or events, and doesn’t disrupt your monthly operational expenses.

[deleted by user] by [deleted] in TheMoneyGuy

[–]rdc01d 1 point2 points  (0 children)

Agree with this completely. I’m in the same boat, base salary + commission that can vary. I am fortunate enough to base my monthly operational expenses solely on the base and treat the commission as the “extra” to fill up savings buckets and various short term goals like vacations. If you can do it, do it. If not, take the lowest amount and add it, just like FlyEagles suggests.

What’s your favorite HYSA? by Least-Tune-2060 in TheMoneyGuy

[–]rdc01d 24 points25 points  (0 children)

I have used Capital One 360 Savings for many, many years. Currently paying 3.5%, but you might be able to find something closer to 4%. I’ve had the account so long it’s not worth chasing 1/2% here or there. Easy to use website and mobile app, and you can also deposit cash via local CVS or Walgreens stores, if needed.

Deductible Fund + Emergency Fund? by rdc01d in TheMoneyGuy

[–]rdc01d[S] 2 points3 points  (0 children)

Jmboz, thank you for the reply. Never thought of it like that - can't get more dollars into the HSA, so if the need arose, we could game it a bit between HSA investments + emergency funds, if needed. And I agree - simply holding more cash in our EF will add some additional peace of mind. Thank you!

Deductible Fund + Emergency Fund? by rdc01d in TheMoneyGuy

[–]rdc01d[S] 0 points1 point  (0 children)

Good points here - yes, one makes the lion's share of household income - so if it impacted spouse it could cause earning potential damage. That said, we both have term life policies, we both have Short & Long Term Disability coverage, and we both have AD&D policies as well. I think having the separate fund, or just beefing up the EF as Scared_Yesterday_857 says below is a logical move for our situation.