Happy new year everybody! Sorry for long silence, but as you notices I was a bit uninspired to continue with this blog, but did not closed it so here we are. Lets take a look how we done in Y2017.
Lets take a look at Q4 for start. My income from job was same old 3,5 kEUR. Nothing exiting. My wife wage income has increased to record 1,8 kEUR due to raise that she received some time ago. Dividend income was minimal – 41 EUR. This adds up to nice 5,3 kEUR income.
More interesting when we look at annual results 🙂 Clear steady growth is visible mainly due to my wife job income increase. Last year she worked only 3/4 of the year, this year it was full year. Also her wage was increased few times, now it is something around 550 EUR/mo. Also my wage was increased a little bit by 20 EUR/mo. and also this year I received my deferred Y2014 1/2 bonus so in total my wage income increase by +819 EUR and I received in total 15,4 kEUR. My wife received 6,3 kEUR which is whooping +2,2 kEUR increase compared to year before. Other income decreased due to no tax refund on our mortgage loan and due to my quieting military. Dividend income this year amounted to 376 EUR which increased only by Δ+28 EUR or only Δ+8% increase compared to last year due to some of my previous investment decreasing their dividends. Well that what we have in Baltics 😦 Also our investments this year was not that active as previous. To sum up Total income reached 22,5 kEUR and increased by Δ+2,5 kEUR or Δ+13%. I think we can celebrate these increases as it is a step forward 🙂
Now the other side of the coin – expenses. Also lets look at what was cooking at Q4. Well the expenses were very high, but mainly due to ‘other’ expenses which I will mention later. Mortgage loan was same 632 EUR/Q. Phone consumer credit was fully repaid and only 60 EUR of student loan repayments was in. Utilities were 540 EUR, which is 84 EUR more then year before. Food cost was actually almost the same 1.243 EUR then year before and transport cost 397 EUR was actually lower, this added up to 2,9 kEUR fixed expenses, over the 2,5 kEUR mark. Then we move to other none-fixed expenses, which totaled to 1,9 kEUR above 1,5 kEUR mark. Most of the expenses were marked by other expenses 1,6 kEUR and big chunk of that around 700 EUR was medical expenses related to our first goal. Around 300 EUR was presents for Christmas and the remaining 600 EUR other various small expenses. This added up to 4,8 kEUR expenses.
Ok then we move on to the annual view. Total expenses amounted to 20,6 kEUR, which is an increase by Δ+2,8 kEUR or Δ+16%. A very interesting thing was that our expenses on Food and Transport was almost exactly the same as year before 4,7 kEUR and 1,7 kEUR. I say this is a good thing with all the inflation going on lately. We spent +0,7 kEUR more on Home due to repairs on Kitchen balcony 6,5 kEUR. Actually total home repair works have cost us 2,2 kEUR which was +1,4 kEUR more then year before (0,8 kEUR). What was positive is that our mortgage expenses decreased from 3,1 kEUR to 2,5 kEUR which made a positive -0,6 kEUR impact on our expenses. We have spent a bit more on holiday +350 EUR. Biggest increase was on the other section +1,8 kEUR. Well 190 EUR was due to consumer loan payments on a phone, which will be no more in Y2018. Spending on closes was the same ~600 EUR. As mentioned before roughly 1 kEUR was spend this year on medical expenses.
And the last thing is when we add up together income and expenses. The result of Q4 was actually quite good if we take into account that additional expenses that we had. Sure this was below the 15% goal, but hey 10% is good as well. 547 EUR is something.
And now the Y2017 results. In total our income has exceeded our expenses 1.911 EUR. Our saving rate has declined from 11% last year to 9% this year. So sadly to say:
Goal #2 – Save 15% of income. (Actual 9%) – Failed
Well to wrap it all up this was not a very good year for us. Sadly I have to mention that main Y2017 goal – to have a baby also failed 😦 Will not go trough the details as it is a bit personal, but it is what it is… But this is what new year is good for – to reset yourself, lift you head up high and move forward and that is exactly what we are going to do!