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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.

3 Responses to “2018 financial recap”

  1. Dido Says:

    Overall great job!

    I am with you on reducing grocery and personal expense spending.

  2. Homebody Says:

    Wow you did a great job! I need to make my list of not buying for the year.

  3. rob62521 Says:

    What a wonderful job you did!

    I chuckled over your taxes comment. I would love to be able to get started on ours, but other than organizing the paper work, we have to wait for the final documents which don't come until the middle of March.

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