This week marks my second year of savings! April 2014 is when I officially ramped up my FI plans after I finished getting all the household necessities. I thought it’d fun to look back over the last 12 months and see what I’ve learned, some fun stats and pretty pictures.
What I’ve Learned
- Any costs occured while traveling or hanging out with new friends are absolutely worth it. New stuff? Not as good of a return for me.
- My lifestlye is probably nicer than I need for a single person and a cat.
- Saving money is a lot easier when everything is auotmated and I don’t have to think about it.
- Gym fees are not worth it, but team sports are a must for me. I love the comraderie and exercise I get from things like dodgeball, softball and soccer.
-I’ve spent $8424 on my car since I started keeping records in 2012. Of that, $4077 is gas and $1527 is parts/services.
-I’ve reached 15% of my goal to retirement! I estimate I’ll need roughly $600k to retire.
-According to the Mad Fientist’s FI Laboratory, I have
13 years and 2 months 9 years and 5 months left until I can retire. I dropped almost 4 years off my timeline in 12 months! Wahoo!
This is a graph of my networth for the past 3 years. I’ve made a lot of progress in a short amount of time! But………. what do those numbers I’ve so lovingly drawn on the graph mean?
- When I started earning my big girl paycheck and really started my FI journey.
- Crossed the $50k milestone 13 months later in February 2015.
- Crossed the $75k milestone 9 months later in November 2015!
- I wish there was a 4. That will come in month or two when I hit that fabled $100k. Right now, it looks like I’ll be sitting at $93k at the end of this month, so May or June the good news will happen 😀
I find it interesting my timeline is accelerating so quickly. It took me almost 14 months to hit $50k, then 9 months to hit $75k, and now it’ll be 6 or 7 months when I hit $100k. The power of compound interest is AWESOME. For real though! The market also going on a mostly uphill pace helps that as well. No wonder my time to FI left went from 13.2 years to 9.5! They say the first $100k is the hardest to get, and it looks like that is the case for me!
Note: This is all accomplished through regular contributions to my retirement accounts, non-crazy spending, a few bonuses at work and a decent stock market. No inheritances or gifts from other people! Of course, I also started off with no debt, so that definitely helped as well.
Lest you think I save all my income, here’s a fun pie chart of the categorical breakdown of all my spending for the last 12 months.
-Unsurprisingly enough, my rent takes all up the vast part of the pie. At $1057 a month, my rent accounts for anywhere from 30-75% of my total monthly spending. This graph has the average at 40%. Ouch.
-Food comes in at 12% of my spending for the last year. No surprise there either, since I love tacos. And alcohol. And cookies (so long as they’re the fancy gluten free ones). Not included in the food category is any food or drinks I buy while on vacation. That goes under the next category of travel.
-Speaking of travel, that comes in at 11%. I might even ramp this up a bit more since now is the time to explore this wonderful world!
-Bills and utilities have gone down like crazy! When I moved here, my utilities went way down and I also switched my cell provider. From almost $6k to only $2700! That just means more money for fun stuff like travel or my handsome kitty!
For the rest of it, the slice of the pie has gone down a lot (I’m looking at you, auto and shopping categories), but I’ve replaced it with other things to spend it on. While I wish I could’ve banked the savings, donating some is important to me and I love having my cat greet me at the door when I come home after work.
Overall this has been a pretty good 12 months for me!
How have your savings been going? Approaching any milestones?