2019 Financial Wrap Up

    

     

     As posted last month, we hit our $30,0000 savings/priority spending goal for 2019. We had a pretty financially positive December as well, greatly aided by the fact we both had fully funded our 401 K so nothing was deducted, and DH was able to use the remaining vacation days to off set so many missed days of work. On the short days he did make it into the store, he had successful results. His first check in January will likely be very low though, and we will be back to contributing to the 2020 401K allowance. I also have a lot of Christmas expenses that will show on the January VISA bill because I just could not get it all done by December 10th when the cycle closes. So while we tucked $6,500 aside in cash, it's a little false sense of accomplishment as 2020 will start very slow.

     The financially successful year may be a very one off. There is no way DH can work the kind of hours he worked in 2019, where over 50% of the stores sales were attributed to him. I'm being pragmatic and assume his salary will be closer to what it was in 2018 and 2017.  They brought a veteran salesperson back, who no doubt will draw many of the potential customers from DH. If this means he is not burning all his energy solely in the work place, I'm all for this. 2019 savings was more down to an abnormally high earning year for DH and less about my thrift and frugality. However, I have opportunity to do better in the thrift department, while living a good life in 2020. 

      Here were priorities above regular cash flow, though for next year as we develop a new budget, we'll incorporate some expenses as part of regular cash flow..

College                                     $21,000

Show Choir Trips                      $ 1,970
Graduation Party                       $   900
Move In Weekend                     $   175
Parents Weekend                      $   175
Choir Concert Trips                   $   350
Home Improvements                 $ 5,430
Total                                          $30,000 

     Here's is how I categorized the savings and priority spending for 2019. 

($0)  Borrowed from Savings
$ 24,900 Deposit

$  2,910 Show Choir Trip #1,#2, #3 + Nashville (we are over in this category by $940)

$     100 College Deposit
$     175 Parents weekend (though probably overspent on this in eating out and entertainment_
$ 8,600  Home Improvement (Over in this category by $3,170)

$36,585 Net Result 

     I'm not sure how to best track 2020. We will be cash flowing much of the college costs as we wait another year to use  one of the accounts that is earning a good rate. We are hoping to still put the max in the Roth, which is $13,000, and we may have to tap into savings to do that by the April 15 deadline. There's the fireplace, office, and deck/patio work, and our little trip in November to Las Vegas. We have three weddings this year to gift, and one of which I am a shower host. I think our trees are looking rough. We lost one a couple years ago, and two of the four remaining are looking rough. When they come down, we will need to deal with stump removal, which is a small fortune. So many potential expenses, and we will need to prioritize, even beyond the need/want list from yesterday. I think I might just track from $0, and see if the numbers by December 31, 2020 are still colored black. I'll leave 2019, calling it a financial success. For 2020, My goal will be to stay in the black with our earnings and expenditures, tapping into and out of our cash account as needed. How was 2019 for you financially? Did you achieve your saving and priority spending goals?