2017 Spending

2017 is at an end. Let’s see how I did with my goal to decrease my spending $4,491.86 from $22,491.86 last year to $18,000. Reaching this goal would prove to me that I can live on $18,000 in retirement though I’m budgeting to withdraw $20,000. The $2,000 buffer would be used for additional healthcare expenses and unexpected costs. 10% of my retirement budget would be a buffer. This safety nets make me feel like I have a warm security blanket wrapped around me. So let’s see how I did!

In 2017 I spent $18,436.60, which is $4,055.26 or 18% less than last year. That’s amazing! I didn’t exactly hit my $18,000 goal, but I’m only 2.3% over and had a lot of rare or one-time expenses this year including:
– Two Far Away Weddings: $791.73 (Note: This would have been a lot more without travel hacking)
– Disney Bachelorette Party: $626.56
– Cavity Filling: $128.60
– Passport renewal $110
– Camping Equipment $100
TOTAL ONE-TIME OR RARE EXPENSES: $1,756.89

Removing those rare or one-time expenses brings me down to $16,679.71 for the year. That’s amazing! This gives me a lot of confidence in my ability to decrease my spending when needed while still living a kickass life!

For the money voyeurs my spending broke down like this:

MONTHLY BILLS (61% Budget): $11,218.47

• $325.25 or 2.9% more than my 2016 budget because of a rent increase
• This includes rent, utilities, public transit, internet and my mobile phone

CHANGELINGS (16% Budget): $2,866.79

• Groceries $1,493.92 which is 214% more than 2016 (which I expected since I wasn’t eating breakfast and often dinners at work and cooking a lot more)
• Eating Out $622.22 which is $1,059.30 or 63% less than 2016
• Alcohol $605.51 which is $335.08 or 35% less than 2016: I’m not sure if I’ve actually drank less or if I just drank OUT less 🙂 , but I’m happy with the decrease
• Parties $145.14 ($130.85 or 47% less than 2016)

VACATION (16% Budget): $2,961.34

• Travel $1,933 ($1,245 or 39% less than 2016): I bought flights to: Boston, Atlanta x2, Albany, Singapore and Ecuador
• Vacation Spending $942.26 ($522.52 or 36% less than 2016): This includes camping gear and 4 camping trips to Blake Island, Deception Pass, Olympic National Park and Gifford Pinot National Forest as well as adventures to Vancouver, Maine/Boston, Phoenix and Disneyland
• Friends Visiting $85.86 ($156.39 or 64% less than 2016)

RAINY DAYS (4% Budget): $766.68

• Household Goods $196.22 (94% more than 2016): I became a bit more of an adult by buying a real wallet, WD-40 for our creaky doors we put up with for 2 years, ant killer spray and caulk which saved my sanity, an Ikea chair and a replacement for our sous vide that fell over as well as replacements for broken items like my partner’s French Press and a Pyrex. We were clumsy this year!
• Personal Products $92.93 ($58.90 or 38% less than 2016): $60 of this was my first haircut in many many years. Without that I would have spent $32.93, which is 78% less than last year. That’s amazing
• Clothing $31.97 ($6.32 or 16% less than 2016): I bought a few light tops for Singapore and $10 flip flops after mine broke. I also gave away 5 large trash bags of clothes. Downsizing! Also getting rid of things that definitely don’t fit now that I’m smaller. Never going back!
• Entertainment $236.15 (6% more than 2016): I went a little wild this year with $40 tickets to see the Terracotta Warriors, renting kayaks around Seattle, seeing more $6 movie matinees, discovering my new favorite movie theater (it has a bar in it = uh oh) and renting from Redbox. Worth it!
• Medical $17.65 ($389.65 or 96% less than 2016): This covers some sugar free cough drops and expensive dandruff shampoo (it turns out cutting my hair was the answer to solving my random dandruff, not fancy shampoos)
• Dental $168.26 ($182.53 or 52% less than 2016): This includes a cavity filling and electric toothbrush
• Laundry $3.50
• Grass $20: You know what this is 🙂 . Weed is legal in Washington State.

LONGTERM (3% Budget): $572.73

• Giving $248.23 ($164.26 or 40% less than 2016)
• Electronics $129.50 ($911.72 or 88% less than 2016): Includes a new phone, a portable charger for camping and long flights, new in-ear headphones, and a replacement cord and cushions for my Bose QC 15 headphones
• Taxes $100 ($125 or 55% less than 2016): This is my passport renewal
• Credit Card Fees $95 ($37 or 28% less than 2016): The annual fee for my Chase Sapphire Preferred, which once again paid for itself after I missed my train connection because of flight delays and had to spend the night in Boston unexpectedly, spending $250. Definitely worth it.

I’m surprised with how relatively little I spent for everything I experienced this year. For 2018 let’s see if I can get my spending down officially to $18,000. Onward!