A bit late to the post. We are DINKs, both started our first full time jobs in 2017, my income ~175k, husband ~25k. 2017 was also the first year that we tracked our expenses.
Saving & student loan Repayments-----$76,364 (90k with employee match)
* 401a: $24,894 (10k self-contribution, 14k employee match)
* 457b: $15,639
* IRA x 2: $11,000
* Student loan repayments: $38,831 (finally done with student loans!)
Spending (excluding health insurance and FSA, they are deducted directly from paychecks)-- $60,776
Category | Amount | % | Comments |
---|---|---|---|
Auto & Transport | $11495 | 18.9% | The amount spent on auto came as a shock to us. We have 2 cars: one paid in full, one financed @ 1.99% with 29k left at the end of 2017(worth ~35k). Breakdown of the 11k expenses: car loan payments 6.5k, gas 1.7k, insurance 1.6k, services & parts 900, speeding/parking tickets 550, parking and tolls 300. ***We are debating whether to keep the financed car or replace it with a cheaper, ~10k car. While it costs a bunch, my husband loves the car and said it made his long commute more bearable. |
Rent | $11271 | 18.5% | |
Travel | $8154 | 13.4% | 3-week vacation in Japan, Singapore and Malaysia, plus multiple domestic weekend trips over the year |
Shopping | $8019 | 13.2% | Clothing 2.2k, household goods 3.7k, electronics and furniture 2k |
Food & Dining | $7239 | 11.9% | Groceries 5.8k, eating-out 1.4k |
Health & Fitness | $4516 | 7.4% | LASIK 4.2k |
Bills & Utilities | $2963 | 4.9% | Electricity, cellphones, internet, netflix, hulu |
Gifts & Donations | $2009 | 3.3% | |
Pets | $1715 | 2.8% | 2 cats |
Personal Care | $1405 | 2.3% | Skincare, cosmetics, haircut |
Entertainment | $935 | 1.5% | Mostly movies |
Financial | $710 | 1.2% | Life insurance premium for two |
Business Services | $344 | 0.6% | Professional membership |
Total | $60776 | 100.0% |
2018 Goals
* $73,000: Max 401a, 403b, 457b and both IRAs
* Keep tracking spending, reduce shopping expenses
* Go to the gym twice a week
* Learn more about investments for taxable accounts