2017 Wrap-up

There are a million things that happened this year and I was so busy I had no time to write about it. The number #1 most coolest thing?

I made more money than I have ever before. For the past 8 orso years I have sat down at the end of the year and made a plan for my budget, set up major goals and estimated my income. For 2017 I expected my net income to be $24,352.44 for the year, which breaks down to $2,029.37/month (26 pays divided by 12). I always aim for the conservative side. :). While I haven’t yet tallied the totals of all my various jobs and income streams, I’m expecting to land somewhere around $60,000 gross for 2017!

I also intended to;

Save $5,377.68 in my RSPs

Save $1881.28 to my house savings

Save $7,209.16 for a vehicle. 

I had anticipated earning an extra $2,000 with my summer employment in 2017. In total I had planned to save $14,468.12…. I pretty much blew all that out of the water!

Since I scored a sweet full-time term job I was able to add quite a bit to my savings.

I usually keep track of my main savings goals in the side bar over there —->>>> and this year my savings finally made some big jumps, I used to update those bars at every dollar of progress but not so much anymore, 😀 too much work! At year end things looked like this;

2017 RSP contributions
Goal: $12,377.68
Total contributed for 2017: $16,808.33!
Total in %: 168%

2017 Extra income
Goal: $4,000
Actual: $23,000+ (net)
Total in %: 575%

2017 vehicle savings
Goal: $12,000
Total for 2017: $1,454.00
Total in %: 9.1%

2017 House saving
Goal: $1,881.28
Total for 2017: $5,000 (approximately)
Total in %: 265%

After adding in the investments I started in Lending Loop, in total I saved and invested approximately $26,262 during 2017. That’s a nice chunk more than the $14,468.12 I had budgeted for. 🙂

You’ll notice I totally abandoned saving for a vehicle, there really isn’t a specific reason for that, the money that should have been directed to that probably landed in the savings categories where I overshot my goals as I anticipate getting another year out of my car. I’ll be revisiting that in my plan for 2018 though.

The number #2 coolest thing? As a result of all dem savings;

I hit a $100,000 net worth! I’ve been working towards this for SO SO SO SO long. Since I sold my house in the fall of 2016, with no more debt holding me down and much lower housing costs I was really able to focus all my efforts on contributing to my RSP’s, TFSA, Savings and investments, and crossed the first 100k! I’m so blessed to be so rich, because man, that is rich compared to much of the world.

My YNAB file recently got corrupted and I lost a few years of data, I do make regular backups but honestly… even with monthly backups restoring a budget file with hundreds of transactions missing and accounts that constantly change (heyyyy travel-hacking) I was too lazy to go through that process. I don’t import my account data from banks, I manually input every transaction I make and keep my budget file completely offline. (I have not adopted the new subscription version of YNAB, I had subscription anything and will use YNAB 4 until I die… or until it really stops functioning) I like it this way, anyway, it does mean that since I hadn’t really kept an eye on or blogged about my networth goals that I don’t really have an accurate picture of how my networth increased over 2017. I do know that my GOAL for the start of 2016 was to have a networth of 72,000 but that I abandoned that goal.

As of today my net worth is at $111,018.64. I found a post back in April, 2014 where I logged my networth at $55,000 so in 3 years and 9 months I’ve doubled that, and sold my house converting its value.

I’m still ruminating on exactly what I’ll plan for in 2018, stay tuned. 🙂

What was your biggest accomplishment in 2017?

 

Achievement unlocked – $100k networth!1!!

This has been a long time coming, 100k! It’s kind of a big thing when you’re a youtuber and hit 100k subscribers, you get a plaque and everything. Do they do anything like that for Instagram? That should be a thing.  This is a different 100k though, I was off on a tangent already… I hit a networth of $100,000 last week after I deposited my paycheque from my term job!

My networth is the sum of everything I own and owe, I don’t literally have $100,000 sitting in a bank account somewhere, although that would be nice and that is a goal. Spread over all my accounts however $100k is what I’m worth today.

I’m still using YNAB to track my networth, expenses and budget and I’m still using an older discontinued version; YNAB 4, because I very much dislike subscription software. I guess NetworthIQ will never be brought back to life? Remember that site? I remember painstakingly updating that little chart every time I was able to go up a few dollars, back in 2006. I had a negative networth and  I had my computer sitting on one of those big plastic tubs and would sit on the carpeted floor in the second bedroom of my condo out in Edmonton. That feels like  a lifetime ago.

This little milestone though, 100k$! I would tell you that achieving this from being to my eyeballs in debt back in 2009  feels really amazing and blahblahblah but that would be a lie… it felt like.. mostly nothing, it felt like… I’m on auto-pilot.  It feels nothing like the elation I felt when I paid off my student loan. I thought it should feel like this amazing thing that was happening but really it felt like a slight bump in my journey to financial independence, a slight upward tick, and on we chug.  It’s been a goal for a long time! It feels like I need a big NEXT! a big THING! What IS next?! I’m excited to find out.

I have finally achieved some sort of equilibrium, I’ve achieved some balance between saving and some spending, living a satisfied life without excess.

I am incredibly blessed to be here right now.

(The 1 in the title isn’t a typo, I miss you Chris!)

25 Goals for 2015 – February Summary.

Financial

I hit every financial goal this month. I didn’t screw up anything and I’m actually a little bit ahead in some accounts. I can easily fall behind again in March so this doesn’t change anything. I’m just going to keep trucking and make this an awesome year. My house still hasn’t sold… and I won’t drop the price to below what the market should pay just to get rid of it, so I’ll just sit and wait. Let’s recap:

1. Stop using overdraft, live on last periods pay. Reach by end of February. Done. Anytime I have money in my chequeing I feel the urge to either spend, invest or save it. It was strange getting used to having a balance in my account instead of letting the overdraft take care of things. It feels better now though, I have all my bills on schedule including my savings contributions, and cash in my wallet and a balance in my chequing. Haven’t been here in a while!
2. Save and splurge on a nice new purse in the spring, Michael Kors Dillon? Haven’t done anything with this yet.
3. Sell my house. Take the money and run. In progress
4. Max emergency fund to $10,000. Save $571.59/month. Done. I actually put in more this month because I had a little bit of extra income from a cottage rental. 🙂
5. Retirement TFSA/RSP  $105.53/month. Done.
6. Vehicle fund $17.33/month. Done.
7. Future House  $41.66/month. Done.
8. Travel expense 2015 $1,500 jan – oct, after that is work depending. Haven’t done anything with this yet.
9. Last but not least a networth of $72,000. In progress

My emergency fund and networth progress are looking like I’ll have a great year, providing I bank the extra money I earn with my summer job and don’t spend it all on who knows what. I haven’t always been good at that. I anticipate to earn more from my summerjob(s) this year than in previous years, perhaps $2,800 – $3,000. If I keep up my savings and don’t touch a penny of my other earnings, by the start of September I should hit that $10k. In February I saved 54.5% of my income, that’s not really a sustainable rate but I am aiming for saving 38-40% of my income going forward from now until… eternity.

DSC_2349

Travel

I didn’t go anywhere yet this year, sadness. I wasn’t planning to but hay, you never know! I am trying to convince the boyfriend to come to Cuba with me on a last minute deal, but he’s resisting, I just keep dreaming, I’m sure I’ll end up going to places I’ve never been this year. 🙂

10. Visit Cape Breton. Haven’t done anything with this yet.
12. Go to East to West music festival in Moncton, NB  Festival was cancelled 🙁
13. Go camping in the Magdalen Island for a week. Haven’t done anything with this yet.

I do have an airbnb credit and a best western free night to use up, and a bit of points on my AMEX. I’m hoping to apply for a new creditcard this year to get a few points to put towards another big trip in the fall.

2015-02-11 11.06.08

Lifestyle

Well, I was sick for more than half the month, I didnt get to the gym once, or the pool… I didn’t put full effort in at being active when I could be, February was just a writeoff in that regard. My routine is going well but overall this category ended up kinda meh.

14. Get up at 08:00/08:30 five days per week. Done.
15. Lose 30 for 30. Fail.
16. Track food and  journal exercise daily. Done.
17. Go swimming once a week (incl. in gym membership). Fail.
18. Complete c25k a second time by April 30, 2015. Haven’t done anything with this yet.
19. Start weighing in weekly by June 30, 2015. Haven’t done anything with this yet.
20. Average steps per day 8,500. Fail. I think I’m hovering around 7,500. The fitbit website keeps failing me the last few days. I was sick the first two solid weeks of February, I petered on about another week and this past week has really been the best week yet. I still have a rumbly cough. I ended up on antibiotics. Whatever I had was not fun!
21. Read more: read 30 books this year. In progress. 
22. Wear out shoes, don’t buy more, reduce total amount of shoes owed. In progress. Can I go the summer without buying any new footstuff?
23. Complete the #100happydays challenge. In progress.
24. Finish two bible studies. In progress.
25. Keep track of these goals weekly here. Done.

For March I would really like to decrease my restaurant and grocery budget even more. I spent $66 in restaurants, 4 x breakfast at Tim’s, one dinner with a friend and one lunch at work when I got stormstayed. It should be fairly easy to cut this down even more. My grocery budget also peaked at $312 and besides increasing grocery prices I really can’t think of what the heck I spent so much on! 

And, whambamthankyoumam, that was it for February. I better get on with my taxes.