Although I love setting and achieving measurable goals each year, I didn’t set any for 2013. It was the year of transition, of being apart from my husband a lot, and of preparing for a new future. It wasn’t a year where we worried about money a lot, besides our automated retirement savings. We ate out a ridiculous amount and our last-minute vacation to Europe wasn’t cheap.
While there is a lot I want to focus on in 2014, I’m satisfied with 2013. We survived the distance, both obtained new jobs, and still managed to have quite a bit of fun.
From a dollars and cents perspective, it is easy to quantify 2013. The numbers below are rounded.
- Total Gross Income: $174k
- Taxes and Deductions Withheld: $52k
- Retirement Savings (pre-tax): $17,500
- Retirement Savings (post-tax): $9,700 (will top off Roth IRAs before tax time)
- Official Cash Savings: $14,500
- Checking account balance increases: $9,590
- Retirement Investment Gains (mix of pre and post tax $): $45,184
- Cash Interest Gains: $456
- Student Loan Reduction: $1,250
- Money spent in 2013 (estimated from above information): $69,687
- Estimated spent in 2012: $60K
From a spending perspective, I can give some estimates on where the money went, but I didn’t track it as nicely as I like to, so I’ll just give the two biggest hitters. .
- Rent (includes all double rent & parking): $25,500
- Travel (Europe plus other smaller trips): $7,000
I’m not sure if I will go back to tracking everything for 2014. It is useful, yet energy consuming. Do any of you have an opinion on the value of tracking all of your purchases? I should be able to make it easier with a few tweaks to our current system
Spending $10k more than last year makes sense. We lived apart off and on, we went on a much bigger vacation, we ate out a lot more, and we had some purchases related to moving. Still, it is a lot to spend, and without knowing exactly where it went or what the real number is, it is very hard to track it against my values.
I think I answered my own question – I will track my spending in 2014, at least in January and February to get a better picture of how things are going!