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My journey to 10k


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 6 years ago '12        #1
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ASAP Savage 
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My journey to 10k
 

 
blew through a sh*t load of money within the past two months due to moving to a new place, buying furniture, increased expenses, reckless spending and Christmas shopping. This is how much I currently have in my savings account

 

I have several accounts but this is my main savings account. As stated in my thread title i'm trying to stack up to about $10,000. I'm creating this thread as motivation for myself and others who are not where they want to be financially to buckle down and start STACKING. I'll be doing monthly updates on my progress, feel free to contribute if you like. It's gonna be a long hard journey but it can be done.


Last edited by ASAP Savage; 12-16-2013 at 08:38 PM..
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 6 years ago '09        #2
2nd2none 
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How much is a sh*t ton

 6 years ago '12        #3
ASAP Savage  OP
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 2nd2none said
How much is a sh*t ton
a couple thousand smh, hurts to even talk about it. Money comes, money goes but i really set myself back from where I was tryna be financially. doesn't help that I all of a sudden have a very active social life
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 6 years ago '04        #4
hockeythug 
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whats your savings goal per week/paycheck?

 6 years ago '06        #5
philly337 
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good luck

 6 years ago '12        #6
ASAP Savage  OP
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 hockeythug said
whats your savings goal per week/paycheck?
its kinda hard to have a set goal because something is always coming up but i'm going to set my goal to at least saving $400 a month to give myself some wiggle room and not feel too discouraged
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 12-16-2013, 07:29 PM         #7
Maybach IV 
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I like the idea of this thread bruh, keep going
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 6 years ago '13        #8
MGz09 
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good thread... what do you do for a living?

 6 years ago '04        #9
hammertime71604 
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put $ into savings before you spend anything
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 12-17-2013, 06:09 AM         #10
ts21 
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thats wussup keep going

 6 years ago '12        #11
ASAP Savage  OP
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 Maybach IV said
I like the idea of this thread bruh, keep going
Thanks bra, I was hesitant to make this thread cuz I felt it to be a little personal but I figure I can motivate someone who is bullsh*tting about doing the same thing.

 R0ZAY said
good thread... what do you do for a living?
thanks bro, I work as a cable tech.

 hammertime71604 said
put $ into savings before you spend anything
I usually do it the opposite, deduct my necessary expenses first then whatever leftover I throw it in the bank.

 ts21 said
thats wussup keep going
thanks bro


Last edited by ASAP Savage; 12-17-2013 at 09:56 AM..
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 6 years ago '09        #12
Two Five Design 
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Cant wait for you to join the club my man. Took me a year and a half to save 10k but I made it...............I made it
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 6 years ago '12        #13
ASAP Savage  OP
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 Two Five Design said
Cant wait for you to join the club my man. Took me a year and a half to save 10k but I made it...............I made it
appreciate that, not sure what your expenses is like but im sure that feeling must be awesome to have a nice little cushion sitting in the bank collecting interest. Not saying 10k is a lot but for me it could hold me down for 8 months or maybe a little longer with normal spending if i were to lose my job. What were ya saving strategies?
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 6 years ago '04        #14
quintosis03 
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 ASAP Savage said
appreciate that, not sure what your expenses is like but im sure that feeling must be awesome to have a nice little cushion sitting in the bank collecting interest. Not saying 10k is a lot but for me it could hold me down for 8 months or maybe a little longer with normal spending if i were to lose my job. What were ya saving strategies?
Make u a budget spreadsheet so u can see exactly to the penny u have coming in and going out.
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 6 years ago '12        #15
YoungKazzy 
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Get investing bruh

 6 years ago '06        #16
Icee 
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If you can afford it, take 20% out of each of your paychecks, and you'll be up 10K in no time.
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 6 years ago '12        #17
slickbak 
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$161.23... That's not what a rainy day fund looks like.

Your journey to 10k is very possible a*suming that

(1) You get a second job.
(2) You pay any credit card debts, car loans, or anybody you owe money, excluding mortgage and maybe student debt.
(3) You keep only your necessary monthly spending in your bank account and put the rest of your money in a money market account, mutual fund, or some dividend yielding stock. (There are some investment accounts that will allow you to pay of bills and pay better yield than a regular checking/savings account. Usually like 2-5% but that's better than 0.03%).

 6 years ago '12        #18
ASAP Savage  OP
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 slickbak said
$161.23... That's not what a rainy day fund looks like.

Your journey to 10k is very possible a*suming that

(1) You get a second job.
(2) You pay any credit card debts, car loans, or anybody you owe money, excluding mortgage and maybe student debt.
(3) You keep only your necessary monthly spending in your bank account and put the rest of your money in a money market account, mutual fund, or some dividend yielding stock. (There are some investment accounts that will allow you to pay of bills and pay better yield than a regular checking/savings account. Usually like 2-5% but that's better than 0.03%).

great advice.. I cant get a second job cuz i'm in school full time and I dont have any huge debts. I have a 401k that I have a certain percentage automatically set aside for but I try not to factor it in my financial outlook although its a lot because that's something im not touching till later in life.

 12-17-2013, 05:41 PM         #19
253xLonghair3 
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 ASAP Savage said
its kinda hard to have a set goal because something is always coming up but i'm going to set my goal to at least saving $400 a month to give myself some wiggle room and not feel too discouraged

seee you in 2 years my n*gga.....
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 12-17-2013, 05:43 PM         #20
253xLonghair3 
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i got 10k in 5 months...
rents-325
cell phone-65
gas-100
beer-60
swishers-30
electric-75
cable-120

i make 9.19 an hour get 24 hours a week

time to hit the side hustle thread my n*gga if u think of saving 10k anytime soon

side job...flipping....recylcing ......legal hustles
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 6 years ago '12        #21
ASAP Savage  OP
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 253xLonghair3 said
i got 10k in 5 months...
rents-325
cell phone-65
gas-100
beer-60
swishers-30
electric-75
cable-120

i make 9.19 an hour get 24 hours a week

time to hit the side hustle thread my n*gga if u think of saving 10k anytime soon

side job...flipping....recylcing ......legal hustles
you right..I got a side hustle in mind..doing some research on how much profit I can make a month off it..also can you link me to the thread you talking about?

 6 years ago '05        #22
pnoi89 
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 ASAP Savage said
What were ya saving strategies?
I picked up some small habits that saves me a ton of money in the long run:

1. If there's free food at work, always eat unless you're allergic, even if you aren't hungry.

2. Not sure if you're in school, but when I was in college, I networked with a couple of my buddies to alert each other when there's a school event going on. You know what that means, right? FREE FOOD.

3. When I'm home, I keep my house at a blazing hot 60 degrees during the day and 63 degrees in the evening. If I'm cold? I layer up. When I'm out of the house, my heater's at 50 degrees, to keep my pipes from freezing during the winter. During the hot summers when I'm home during the day, I stay out of the house and loiter at the mall or at a local Starbucks to keep cool.

4. I don't have a gym pass anymore, but when I did, I only took showers at the gym. They had pretty nice soap and shampoo, so I made sure to scrub the hell out of myself when I was there.

5. If you're a casual drinker, learn to sneak a flask in and don't be shy to ask the bartender for a coke. Most bartenders I've come across out here give sodas for free if you emphasize that you're the DD. Voila! A budget Jack and Coke.

6. Cook in bulk, figure out the best places to buy your food and decide how much you want to balance quality with cost. Higher sodium and a more preservatives -> lower prices, so you gotta decide how much to balance that for your diet.

7. Evaluate your phone plan, internet, cable, etc. I don't have cable at all and I bundled my phone on a family plan with my family. I usually pitch my share for the year to them (~$30 a month).

8. Learn to cut your own hair and have a buddy of your help line your hair if you're having trouble cutting the back of your head. You'll be surprised how much money you save a year doing this and investing in a budget haircut kit (should be no more than $30 and mine's lasted 5 years so far).

9. Never be shy to ask your friends / coworkers if they don't want their leftovers whenever you're out eating.

There's a starting list for you. Good luck!

 ASAP Savage said
Thanks bra, I was hesitant to make this thread cuz I felt it to be a little personal but I figure I can motivate someone who is bullsh*tting about doing the same thing.



thanks bro, I work as a cable tech.

I usually do it the opposite, deduct my necessary expenses first then whatever leftover I throw it in the bank.


thanks bro
What helps me decide when I could splurge or not is keeping track of my net income the month before. If expenses become tight this month, I ain't spending sh*t next month.

 ASAP Savage said
appreciate that, not sure what your expenses is like but im sure that feeling must be awesome to have a nice little cushion sitting in the bank collecting interest. Not saying 10k is a lot but for me it could hold me down for 8 months or maybe a little longer with normal spending if i were to lose my job. What were ya saving strategies?
Not to rain on your parade, but the interest you'd earn from $10,000 in a savings account is pocket change. If anything, it should be more on a focus of an emergency fund, kind of what you described there.

 YoungKazzy said
Get investing bruh
Uhhh, invest in what? He needs an emergency fund first if $161 is the only cash he has....

I mean, if OP's stashing a little money away in a 401k or Roth IRA, that's not taking too much of a toll, a*suming he's only contributing < 10% of his income to it.

 slickbak said
$161.23... That's not what a rainy day fund looks like.

Your journey to 10k is very possible a*suming that

(1) You get a second job.
(2) You pay any credit card debts, car loans, or anybody you owe money, excluding mortgage and maybe student debt.
(3) You keep only your necessary monthly spending in your bank account and put the rest of your money in a money market account, mutual fund, or some dividend yielding stock. (There are some investment accounts that will allow you to pay of bills and pay better yield than a regular checking/savings account. Usually like 2-5% but that's better than 0.03%).
What about unexpected expenses and emergencies? Putting "the rest" in a money market or mutual fund can have a possibility of a penalty for early withdrawal... I mean, if you can avoid those potential penalties, I can see some good coming out of it...

 6 years ago '05        #23
Demboyz746 
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man, i wanna save like this.. I got emergency funds and all that.. But man i gotta find me a new spot in the next 2 months.. Im saying to myself eff i dont wanna pay no 600 or higher for rent smh..

 12-17-2013, 09:21 PM         #24
253xLonghair3 
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I am around 20k will be closer to 25k saved for the year and only made 11k so far at work this year.

This money is actually what i have for life as this is my first year really saving after being homeless in 2010


Making this thread is already the start to you doing big things but 400 a month isnt alot but its a better start then most actually it is a great start.... years pass so fast when your lifes a routine so if you were to save 400 a month but you been at the same job and same house you will have 10 racks in no time but it can be blown fast
I have seen many spoiled friend get blessed with thousands cuz their parents were retired military and all they did was try to buy sh*t and show it off like they bosses cuz they got 22's and no gas money now


one secret i do is buy all my stuff in bulk that i can get....lighters 5.90 for 50...n*ggas come over wanna smoke n need a lighter...sale em for a dollar

spent 100 on cigarillors for around 1000...n*ggas want a swisher 1$ 2 for 3..

I save all my recyclables that are worth money

know someone with bottles on deck so i buy those in bulk also ...and resale

i resale anything at one point had a grand i was using posting adds on face book and craiglist buying androids just so i could resale them


Last edited by 253xLonghair3; 12-17-2013 at 09:28 PM..

 6 years ago '12        #25
sigNN 
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im on thos journey myself im about half way there took me about 5 months to save up 4k



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