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!!
2018 Financial Wins/Fails
December 31st, 2018 at 02:41 pm
December 31st, 2018 at 02:47 pm 1546267648
December 31st, 2018 at 02:55 pm 1546268118
December 31st, 2018 at 07:20 pm 1546284050
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!
December 31st, 2018 at 08:28 pm 1546288120
December 31st, 2018 at 08:31 pm 1546288318
January 1st, 2019 at 05:29 pm 1546363763
January 3rd, 2019 at 08:54 pm 1546548888
February 1st, 2019 at 07:10 am 1549005017