Tuesday, August 23, 2016

2015 Income and Expenses

I never recapped last year's income and expenses, so here's a very simplified version:

Salary and bonus and 401k match $144,061
Investment income and interest $42,515
Gift rec'd $100
Blog income (net of expenses) $1,018

Housing incl. utilities, phone, internet and other household expense $26,465
Food and liquor $14,881
Entertainment & subscriptions $1,911
Charity $707
Clothing $2,802
Education $1,347
Gifts given $1,753
Gym $2,389
Medical/dental $5,679
Travel (incl vacation) $5,244
Taxes (Payroll deductions and payment of 2014 taxes owed) $55,482
Other misc $4,441

Net Savings $64,594

A few observations:
I continue to be amazed at how much income I get from my investments alone. It is more than Sweetie's salary at the moment! Every time I see that investment income, it is another reminder of how important it is to save money and invest it wisely.
Food and liquor is very high, but I cover all of that for both Sweetie and me. We eat dinner out from time to time, but not all that often. We've been using Blue Apron for a couple of years to encourage us to cook at home more. Blue Apron isn't super cheap, but it's cheaper than takeout or eat-in restaurant meals. Where I've been splurging a wee bit is on lunch, sometimes spending over $10 by going to a more upscale place and buying a drink instead of just having water from a cooler in the office.
Gym-- I pay in advance for 2 years at a time, so the true annual cost is only half this amount.
Medical/dental includes Sweetie's coverage, and an expensive crown.
Taxes-- I owed taxes in 2014 due to the extra income I had from selling my condo, so that was a hit this year.
Other miscellaneous includes things like haircuts, art supplies, postage, etc.

I saved 34% of my gross income, which is good, and I never particularly felt like I was having to make an effort to save-- if anything it's been the opposite, feeling like I could give myself permission to spend a little extra from time to time. But I try to keep that feeling in check! I am thinking a lot about early retirement and trying to balance that against enjoying life now. Always a tough question!