If you want all the details, you can find them here -
http://minimalistgamer.blogspot.com/2018/01/2017-financial-year-in-review.htmlFull post -
2017 has been a better year than 2016 in terms of finances. Our good health still remains our greatest blessing. I wish to thank the powers that be for this incredible gift. As we get ready for 2018, I want to look back at last year and review finances. The format is going to be very similar the 2016 post, which can be found here.
Total net worth
This is a sum total of all the liquid assets, investment assets minus all the debt, which is our mortgage loan. Property value is not included.
Beginning of year balance (Saturday, January 14, 2017): $90,120.35
End of year balance (Saturday, December 16, 2017): $159,699.51
Net Change: +$69,579.16
Percentage Change: +77.21%
Liquid net worth
This includes a total of all the liquid accounts.
Beginning of year balance (Saturday, January 14, 2017) - $161,230.18
End of year balance (Saturday, December 16, 2017) - $44,321.82
Net Change: -$116,908.36
Percentage Change: -72.51%
Paying off the mortgage is the reason why our liquid net worth is low.
Investments
This includes change in value of investments in 401k, Roth IRA and taxable accounts at the end of the year.
Total invested (Saturday, December 16, 2017): $100,354.41
Total value of investments (Saturday, December 16, 2017): $115,376.71
Change: +14.97%
Debt
2017 is a wonderful year where we paid off our house and eliminated all debt.
Saturday, January 14, 2017: -$124,913.24
Saturday, December 16, 2017: $0
Change: Debt eliminated!
Total Expenses
Total expenses in 2017 are insanely high because I am counting the mortgage pay off as an expense.
2017 Total expenses: $144,977.76
2017 Total expenses (without mortgage pay off): $19,797.58
2016 Total expenses: $32,385.66
2016 Total expenses (without mortgage payments): $19,530.03
Change: +347.66%
I think the interesting thing here is that we are able to live on less than $20,000 per year if we don't have a mortgage, and this includes home insurance and property taxes.
Food
2017 groceries and eating out: $3,226.18
2016 groceries and eating out: $2,688.83
Change: +19.98%
I am not sure how we spent almost $600 more in 2017 compared to 2016...I am going to keep a close eye on this in 2018.
Computer related expenses
2017 computer expenditure: $1,456.29
2016 computer expenditure: $2,149.85
I am kind of surprised that I spent over $1,400 on computer related expenses, and this number is kind of high considering I did not build a gaming machine in 2017. More than 50% of the expenses is for one item - the MSI 1080Ti. I really need to take it easy with computer related purchases in 2018.
Change: -32.26%
Video game purchases
2017 video game purchases - $222.60
2016 video game purchases - $179.50
I said I intended to keep the game purchases low in 2017, and I failed at it. Considering the Steam backlog I have, I really shouldn't be buying any more games until I finish a significant portion of it.
Change: +24.01%
Unplanned big expenses
2017 Unplanned big expenses: $348.00
2016 Unplanned big expenses: $3361.27
Fortunately, 2017 has been kind of us in terms of unexpected expenses. I am hoping it will be the same in 2018!
Change: -89.65%
Conclusion
My financial goals for this year include maximizing 401k, Roth IRA and HSA. and budget for fun, so that I can spend money guilt free. Overall, I am very happy with the progress we made in 2017.
The highlight of the year is paying off mortgage! I read a lot of financial blogs and in this community, there are a lot of people who believe that paying off mortgage is not a good idea. I get why they say this. From a purely mathematical sense, it makes sense. But I am not a robot. So I broke the CD and paid off our house, and it is one of the best decisions I have ever made. When I say I can live rent free, that's not technically true, the idea of not have a mortgage and owning your own home...I can't quite describe it. If I had to do it all over again, this is one of those decisions I would absolutely not change!
You can read about it here -
http://minimalistgamer.blogspot.com/2017/01/paid-off-our-mortgage.htmlMy goals for 2018 -
1. Budget for having fun
2. Max out all retirement accounts (401k, Roth IRA, HSA)
That's pretty much. I think I am in a fairly happy state right now. I am very thankful.