2016 Spending Recap

I started tracking my monthly expenses on this blog, but stopped after September. As I mentioned here, there were days where I lose sight of the goal. This is why it is surprising to me that I actually spent less than the previous year. This included my wedding expenses that I paid for.

In 2016, I spent a total of $44,162.13. Housing is 48% of my spending followed by wedding expenses. Without these, my spending is about $15K.

My spending decrease by $3k from $47K to $44k. I didn’t start tracking my monthly spending since the beginning of 2016 and stopped in October of 2016. Even with this mishaps, I still managed to decrease my spending. This is a great example that forming a habit of frugality works.

I doubt that this spending will decrease this year. There are big changes coming up in 2017 that warrant another post. I am very happy and quite surprise when I saw this. I feel that I reached the optimum. This year, I would like to focus on more on increasing my income. A few things to keep in mind about my spending:

  • The spending doesn’t include taxes and health insurance that are taken from my paycheck.
  • The housing is 50% of our monthly mortgage. My husband and I split this evenly. This financial agreement warrants another post for more explanation.
  • Housing expense includes home insurance and property taxes that are paid through escrow. Property tax increased from 2015 – 2016 and again in 2017. I manage to appeal my 2015 given that we just bought the property. I find the 2017 appraisal reasonable and didn’t appeal it. If you own a home and believe that the appraisal was higher than it should be, you should always try to appeal it. I will write a post more on this.
  • The wedding expenses are what I paid for. We spent about $18K in total on this. I will elaborate more on this on another post.
  • The gifts are for my family and friends. This do not include any donation I made through another fund.
Home$26,398.05$21,383.14First year of living in our house. I was on a 15 year loan from my previous condo. I sold the condo after buying a house on a 30 year loan at a lower rate. This is where I choose to spend my money
Wedding Expenses$1,957.39$6,952.46Wedding expenses that I paid for my part.
Food & Dining$3,487.38$2,599.96Having a nice kitchen have it perks and I started cooking more
Bills & Utilities$2,659.78$2,244.01
Gifts & Donations$4,315.77$1,955.49The gift was unusual in 2015. My parents helped me prep the condo for sale and it's my way of saying thank you. 2016 is more normal
Travel$1,658.77$1,662.342015 trip was a trip to India. 2016 trip was a trip to Portugal and Asia
Auto & Transport$1,681.62$1,562.53This includes gas, registration, parking and occasional cab rides through lyft
Shopping$407.10$1,448.74I bought a new laptop in 2016
Pets$1,975.49$1,109.15Remember the vet emergency visit
Business Services$0.00$354.27CPE fees for my CPA
Health & Fitness$141.48$158.48Doctor's visit
Personal Care$0.00$55.25Haircut
Fees & Charges$30.65$3.04Fees from investments


Want to know more – just ask. If you have any recommendation where I can manage to decrease this, feel free to comment. I thank you in advance.

Tracking: I track my expenses using mint. I really like the app and made categorizing my expenses very easy. I enjoy looking at charts and the comparison feature is fantastic.


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