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2018 Financial Wins/Fails

December 31st, 2018 at 06:41 am

This is just a really quick overview:

Wins:
Fully funded Roth and 403B

Saved $27,200 in cash (I use this to pay yearly property taxes, car insurance, Condo Insurance and just keep a very large emergency fund)

Earned $1475 through Swagbucks

Fail? Not sure I would really categorize this as a fail, but I tried an experiment for 2018 to see if I could keep my monthly spending below $1000 per month. As a note, my condo and car are both paid in full. I successfully stayed below the goal for 5 months. I went over the goal by less then 50 dollars for 4 months, and 3 months I was way over. When I looked at the months I went over, it was due to helping family, an unexpected tax payment (my fault) or I just did some shopping for things I needed.

My biggest fail was my grocery spending. I haven't tallied it up yet for the year but I know it's way too much for one person. So this will be my focus, and financial goal for 2019. I do have people over for dinners and potlucks, and football Sunday's quite frequently, and since I usually have leftovers that I eat during the week, I don't separate out my food entertainment costs, vs. my own food consumption costs. I intend to keep combining it, but look for ways to reduce overall food spending. I'm going to shoot for $200 a month and see how it goes.


Happy New Year Everyone!!

12 Responses to “2018 Financial Wins/Fails”

  1. creditcardfree Says:

    Thanks for participating! Over $1400 in Swagbucks...do you use their credit card? I think you did really well with your spending goal. It's hard to be perfect every month, but you were on track about 75% of the time this year. Yay!

  2. Wink Says:

    Thanks CCF! No I don't use their credit card. I really just do surveys and do NCraves mostly. I did make a few money maker donations this year too. And Shop and Earn for stuff I would be buying anyway. It adds up!

  3. Dido Says:

    You’ve done excellent with the savings and spending—Congrats!

    If having people over is your entertainment, allow yourself some freedom in this category. $200 for a single person is doable but to me really feels pinched. That’s my overspending category, too—and I spend $375 per month on the groceries plus another hundred on household supplies in a typical month. That’s also similar to what “Patient Saver” reported spending in these categories. (And for me, add in another 225/month on eating out, which is *my* social life.

    While I’ve no doubt you could spend less, also remember that there needs to be a balance between saving for tomorrow and enjoilife today. If you’re insistent on cutting back, the savings should go to something that gives you joy today, like a vacation. While there are lots of people who fail to save, there are also lots of retirees who fail to spend. That’s considered a problem too! You could die in an accident tomorrow, so make sure you get some joy from your earnings today. It’s all about balance!

  4. Wink Says:

    Dido, your response was so helpful! A lot of my social activity really centers on having my friends and family over for meals and gatherings. It was also helpful to understand what other single people spend in this category. I need to rethink this. Thanks!

  5. Dido Says:

    Glad you found it helpful!

  6. frugaltexan75 Says:

    My grocery spending averaged about $340/mo this year - mostly for me, but some was my DH too. (He mostly eats food from the place he works or buys fast food with his fun money.)

  7. rob62521 Says:

    Wow, you did quite well. You fully funded your retirement accounts and saved so much so you have it if and when you need it! And I really wonder if you spent THAT much on groceries. Really good food, not the preservative ridden junk, costs more.

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