We’re doing our annual compilation a little early this year, since we’re flying to New York tomorrow at the crack of dawn to ring in the new year.
We’ve had a great financial year, with a current net worth of $462,553. That’s a $106,134 increase from last year, which was due to a combination of a high savings rate and solid investment performance. We finished the year with a savings rate of 65%.
Our spending for the year was $19,163, compared to $18,414 in 2018, which averages to $1,596/month. There were a few notable increases, which will be laid out by category.
Our travel spending for the year was $9,776, compared to $9,815 in 2018. This included incidentals for our winter Vietnam trip, visiting Japan in the summer, a quick trip to Vegas for a wedding, our flights and accommodations for the New York/Philadelphia trip we leave for tomorrow, and several smaller trips to visit islands in the hopes of finding our forever-island.
We have officially crossed the five-figures-for-one-category barrier, as our housing costs were $10,149 for the year, compared to $9,987 in 2018, which averages $846/month. This is rent and insurance on a small studio in downtown Vancouver. We’re not expecting any huge changes to this in the two years we’re looking at until retirement.
Our food spending is one area that’s had a substantial increase this year, due to a combination of rising prices, complacency, and the discovery of various tasty new things for sale. We spent a total of $3,884, or $323/month on food, compared to $3,351 in 2018. The breakdown was 80% ($3,073) groceries, 12% ($449) snacks, 7% ($258) restaurants, and 2% ($63) Costco membership fee. Despite the increase, we still feel our average grocery spending of $256/month for two adults is quite reasonable.
This is one broad category! We spent $1,165, or $97/month, compared to $1,034 in 2018, on shopping, which was a lot of video games and electronics, a little bit of clothing, and a surprising amount of random items that decided to die on us this year – things like a new vacuum cleaner, etc.
Our monthly recurring bills continue to be low, unsurprisingly. We spent $1,153 on bills this year, or $96/month, compared to $1,026 in 2018.
The remainder of our spending was $2,784, or $232/month, compared to $3,014 in 2018. This was heavily skewed towards cat expenses ($868) as Anthony is now almost 16 years old, so his costs are increasing. More dental work and medical costs brought our health spending to $630, we spent $461 on personal care (basically haircuts and toiletries), $446 on transportation (public transit mostly), and $417 on entertainment.
2019 was a great year financial-wise! This was Cel’s first year being self-employed for the whole period, and it went really well. It was nice having someone at home to take care of any issues, run errands, etc. We expect 2020 to be relatively similar, with no big changes in spending or lifestyle. As of now, we’re in the home stretch to retirement – just over two years away according to current projections. Of course, that could change depending on what happens.
We’re excited to see what 2020 brings!