2015: A Year to Review
2015 was a pretty great year for me financially. I made more in 2015 than I ever have. Due to that, I was able to invest more than I ever have as well.
It was pretty decent health wise as well. I started having back and leg pain due to the herniated disc back in November, but before that, nothing major happened, health wise, that really impacted my finances.
My expenses in 2015 were also pretty low, despite a pretty generous gift to my parents for their 55th wedding anniversary, and also a trip to the U.S. Virgin Islands. I’m hoping I can duplicate 2015 for the next 10-15 years so I can reach Early Retirement!
In 2015 I took home $40,915. This total includes the $18,000 that went directly to my 401K. This was my best year ever!
I made about $5,000 more this year than last year. This is due mostly to overtime. My company had a record year in 2015, which translated to the employees working a lot of extra hours.
I’m not sure how I feel about this.
On one hand the money is nice, but on the other hand, people were threatening to quit, and moral was extremely low because nobody was getting any time off.
When people already work 12 hr days, adding an extra day or two on top of the normal four, is asking a lot. Asking employees to do that for months at a time can lead to very disgruntled employees.
I wish the company would just stick to 48 hr. weeks. That seems to be the sweet spot that makes everyone happy.
Back in February I received a 3% raise, which is about normal for my employer. There was a change in management and I have yet to receive a review with my new manager. I should be getting my review and (hopefully) raise in February, since that is the month I started working there. I’ll have worked there for five years come February.
I have mixed feelings about this….
Net Worth and Savings
I started 2015 with a net worth of $39,833. Over the course of the year I maxed out my 401K and also my IRA. On top of that I was able to put $4,080 into my online savings account.
I have two online savings accounts. One is my emergency fund which has a little over $8,000. The other savings account is earmarked for a new car, but I occasionally dip into it when I need it.
OK, I just checked the last time I withdrew money from that account and it was actually back in 2014! I took out some money to max out my IRA for that year.
On January 1st my net worth was $68,842. Obviously most of the gains on my net worth over the year was money that I put in to the accounts, but I did manage to gain $1,429 over what I contributed. Unfortunately that gain has now disappeared thanks to markets dropping, but I digress.
My expenses in 2015 totaled $14,029. A few things to note: 1. I only pay $400 in rent every month. 2. I carpool with my boyfriend to work and we usually take his car since it has fewer miles on it. 3. We don’t have kids.
The only one of these that will most likely change (very soon) is us carpooling together. His hours are about to possibly change, so we won’t be on the same shift.
Also, I only go out to eat about once every couple of months. The only type of food I find it worthwhile to go out to eat for is ethnic, usually Mexican or Indian since that’s what I love and I can never make it as good at home. If anyone has any really good vegetarian Curry recipes, please point me in that direction!
I also wasn’t adding in medical insurance to my monthly expenses. That is something that will be changing in 2016. That will be a new category added to my expense report. You can probably safely add on an extra $2,000 to my expenses if you want to include my medical insurance that I get through work.
The above totals are mine and mine alone. I do live with Mr. Frugal Turtle, but we keep our finances separate as of right now. Luckily, he’s pretty frugal, so we get along extremely well. There is no need to keep a spread sheet proving that I’ve paid for stuff or what I owe him. We have a common goal: Early Retirement. As of right now I don’t intend to stop working until we both agree that, combined, we’re financially ready for retirement. We’re a team, through and through.