I’m happy to announce that the “Tim’s teeth fund” progress bar has gone away. That’s because my bonus came, and that sucker is fully funded!
The bonus was actually a little bigger than last year, so we’ll actually have a slight cushion. Which is good because next month’s credit card bill is going to be a bear — and we’ll officially be $766 lighter in the ole pocketbook.
I did get a raise, but it still won’t quite make up for Tim’s SSA check. It’ll certainly help take some of the pinch out, though.
Anyway, I thought I’d take a look at the numbers and see how we did. So let’s get to it, shall we?
Actually, the starting point was a little difficult to pinpoint. See, last year’s bonus didn’t get transferred into savings until mid-January. And it upped the balance by more than 50%. Still, that was 2014 money, so I decided to ignore it.
That means we started this year with $14,4812 and are ending at $27061, for a net increase of $12,579.
But then there are the sub-accounts. We managed to increase the emergency fund by $600, and we put $1,200 into both the car fund and the vacation fund. (Some of which came back out this weekend, of course.)
In total, we saved $3,595 in the various sub-accounts. So we actually saw a total increase of $16,174.
But what counts as savings?
Of course, that’s just what’s in the bank now. A major question I asked myself was whether I should include money that we had to withdraw from savings to cover various expenses.
In the end, I decided to include that because we were able to initially save it. It’s not our fault that life intervened. Also, it makes our percentages look more impressive. But we’ll pretend it’s purely based on logic.
It turns out that we had to take out $8,521 over the course of the year — almost all of which was due to repairs and upgrades that were more or less necessary. (I mean, technically, we didn’t need fence doors that locked, but I feel better having them. A toilet and HVAC for the in-laws, though, wasn’t optional.)
That means that in 2015 we put aside $28,295, including retirement.
So… okay… deep breath… That means that we saved 28.1% of our income this year.
The deep breath is because I basically just revealed our income. Something I’ve been hesitant to do for a long time. Because, if you do the math, you’d find out that this year we brought in about $100,650.
That number includes $4,800 from the in-laws’ rent, and $3,000 I estimate that I made from the blog. But the real jump came from taking the one weekend a month of overtime. That boosted my pay by more than 20%.
While I’m surprised/thrilled/weirded out by the fact that we brought in six figures, I’m also wrestling with a slight sense of dread. Because I feel like admitting to making that much money does two things:
- Alienate people who made significantly less and
- Make people wonder why we can’t live on less than $72,353 a year
I truly hope it doesn’t alienate you guys because you’re an amazing support network for me. As for how the hell we spend so much each year, well I wondered that myself.
Right off the bat, $15,358 went to taxes. Not that that’s an onerous amount. But it’s… well… $15,358 we don’t have.
Using (very) rough numbers I’d say we spent at least $15,000 on medical expenses this year. Probably more, but I’m not digging through old credit card and bank statements.
So that means we have about $42,000 to play with. Minus mortgage and utilities (including a pricey Internet package for my job), around $25,000.
Granted, that still means an average of $68.50 a day for two people. Even accounting for various convenience taxes — I’m looking at you, water delivery — that seems like a lot.
It’s something I’ll work on in 2016. I’m already planning on investing in reverse osmosis for the house, which will save us hundreds.
But the fact is that we’ll always spend more than I’d like. So it’s once again a matter of celebrating our victories and trying not to dwell too much on everything else.
How did your 2015 go? Any big money goals for 2016?