2016 - Financial Year in Review

2016 has been a wonderful year for finances. Our greatest blessing remains our good health, which is what enabled us to make great progress. I wish to thank the powers that be for all the gifts. As we get ready for 2017, I want to look back at last year and review finances. There is no particular format for this review. I went through my expenses spreadsheet and made some observations.

Total net worth

This is a sum total of all the liquid assets, investment assets minus all the debt, which is our mortgage loan. I choose not to include property as an asset...I don't have a reason for this.

Beginning of year balance (January 16, 2016) - $19,227.71

End of year balance - $80,704.86

Change - +319.73%








Liquid net worth

This includes a total of all the liquid accounts.

Beginning of year balance (January 16, 2016) - $138,639.33

End of year balance (December 16, 2016) - $161,365.71

Change - +16.39%








Investments

This includes 401k, Roth IRA and taxable investments.

Total invested in 2016 - $25,947.63

Total invested (December 16, 2016) - $40,817.69

Total investment net worth (December 16, 2016) - $44,864.63

Change - +9.91%





Debt

We are fortunate enough to be debt free except for our 15 year mortgage loan @ 3%, for our house which we purchased in December 2015.

January 16, 2016 - (-$134,097.00)

December 16, 2016 - (-$125,525.48)

Change - +6.39%






Total Expenses

I think there are several areas where there is some room for improvement.

2016 Total expenses - $32,298.31

2015 Total expenses - $57146.40

The reason for high expenses in 2015 is due to the 20% down payment for our home.

Change - (-43.48%)






Food 

2016 groceries and eating out - $2688.83

2015 groceries and eating out - $2692.17

Change - (-.12%)

We could have easily saved more, but some careless decisions led to getting so very close to the 2015 amount.






Computer related expenses

2016 computer expenditure - $2149.85

I built a new Skylake machine costing $1728.90...I don’t regret it, but I am going to take it easy with computer related expenses going forward.

2015 computer expenditure - $1591.95

Every year from 2012 onward, I’ve spent over $1500 per year on computer related expenses. I think 2017 is the year to break this trend.

Change - +35.04%






Video game purchases

2016 video game purchases - $179.50

Two copies of Battlefield 1, and one Uncharted 4 are the major culprits.

2015 video game purchases - $200.16

Two copies of Battlefield Hardline, Legend of Zelda are the major culprits.

I intend to keep video game purchases under $100 in 2017.

Change - (-10.32%)






Unplanned big expenses

Expenditure for 2016 - $3361.27

A $1500 car repair, a $1100 trip to New York City for a family wedding and a root canal, all contributed to this. I am hoping 2017 will not have any surprises like this.

Expenditure for 2015 - $407.60

Change - +725.13%




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