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Archive for January, 2019

2018 financial recap

January 4th, 2019 at 04:08 pm

Things I did well in 2018:
- reduced home spending
- reduced cell phone bill
- reduced gardening/wildlife expenditures
- reduced restaurant meals
- reduced massages (only 2 this year)
- reduced clothing expenditures
- reduced social/fitness spending
- reduced music/books/apps spending
- reduced spending on hobbies
- quadrupled Roth IRA contributions
- spent money on a therapist/meds with HSA
- increased HSA to contribute max in 2019

Unexpected 2018 expenses:
- Vet/pet bills
- Auto repair (over double 2017 costs)
- Phone replacement (battery nearly exploded)
- Expensive hair care products (but healthier hair)

Things to improve in 2019:
- reduce grocery spending by at least $100/mo
- reduce personal spending by at least $100/mo
- reduce untracked cash spending
- reduce spending on gifts
- plan ahead for recurring/big ticket items (use YNAB as intended)
- get out of the house/work on projects/have a life

I'm waiting for my first paycheck post-promotion to determine if I should increase my retirement contributions beyond 15% (actually 19% including my HSA contributions). The 401k contributions will automatically increase a percentage point in May. With my HSA increase, I think saving $1000 per month was a tad ambitious.

My coworker was already teasing me about 2018 taxes...had I submitted them yet? Ha! I haven't, of course, but I have been thinking about them. I always look forward to that little boost of income coming back.