How did we do – Year 1

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Its the end of the year! Woo Hoo! Time for parties and celebrations and watching the year of 2016 die with a thankful breath….


Its time to calculate the end of the year numbers!!!! Woo Hoo!!! Who’s with me??? Anyone??? *crickets*

Alright, so I may have slacked off a bit at the end of this year. One purchase led to another and before I knew it, we had spend more money than I wanted to think about. It wasn’t really on STUFF (although, if I am being honest, I spent way more this year on Holiday gifts than I did last year). Nope – what really killed us this year were two decisions we made in December:

  1. We took our child out of public school and put her in a private school (for the record, this is the best use of our money ever. She was having anxiety attacks at school and developing trauma around learning. Not a good thing).
  2. We decided to transform our garage into a useable space. This is something we had been talking about for years and we finally found a guy who does amazing construction work for super cheap (he’s moonlighting for us – for his day job, he works for a construction company). We couldn’t pass up this opportunity.

I was tempted to just not count these expenses in my annual report. Say to myself, “this was just a one time thing and I shouldn’t worry about it,” but ultimately decided I would only be cheating myself.

So, enough stalling. The number that I really care about; the number that matters more to our goal of FI than any other is our savings rate. While we had some excellent months, our average percentage of savings ended up being:

33% – not great. Especially since our goal is 75%.

What contributed so such a lousy savings rate, you ask? A lot of it was the school and garage, but it was also things like repairing appliances and travel. The good news is, I am confident we can improve upon that number next year.

That’s the bad news. Now for the fun part:¬†We started this year at 28% of the way towards our goal of financial independence and we ended the year at … drumroll please …


This number may be a little skewed since I wasn’t including our rental properties in the beginning of the year numbers and we used the proceeds from those properties to make significant progress in our end of the year numbers, but I’m going to go with it since it makes me feel better.

We are over halfway to our goal of financial independence!!!

If my calculations are correct (ha! I’ve always wanted to say that), we should reach our goal in April of 2020 – three months before my husband turns 40.

I will continue to keep you updated on our progress. Our little family wishes you a big happy new year!

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