State of the Bear Cave – January 2017
Another month goes by, another update on our path to financial independence. Happy new year everyone, and let’s hope 2017 is a great one. I’ll be doing a full analysis on all of 2016 in a couple days after I have a chance to pull everything. But for now, you’ll have to wet your appetite with what we managed to pull off in December. Without any further ado here’s the current state of the bear cave.
State of the Bear Cave
Total income for the month clocked in at $29k with total expenses of around $10k, for a total savings rate (with our 401k and other contributions) of about 70%. We’ve done better in prior months, but still not a bad total for the month considering some expenses that cropped up in December.
Our investable assets ticked up above $600k for the first time. A nice little milestone we’ve been inching toward all year. Given the current rate of increase, we’ll hit $1M in a little less than two years. Given our current expenses, this should be more than enough to cover pretty much anything we need post-FI. More on the expenses below.
|Student Loan Interest||$0|
|Home Owners Insurance||$0|
|Cleaning Service/Lawn Care||$280|
I wish we could say tat we did an awesome job this month on expenses, but there were a few things that cropped up that threw us off track a bit.
First one is obvious, gifts for Christmas is a big line item this month. We like being a little generous around the holidays so we don’t think this is going away. The key for us is moderation, no $5000+ Christmas shopping extravaganzas. The Christmas tree will be festooned with a reasonable amount of gifts, not the overflowing mountain of presents you often see below American Christmas trees. $1000 for the entire Grizzly extended family seems like a reasonable amount.
The second big expense that was out of the ordinary this month was home maintenance. The big element here were three unfortunate events. The engine blew out on our 10-year-old washing machine necessitating a replacement (a possible topic for a future post possibly). And we had a large leak in a pipe under our shower that I didn’t yet feel qualified enough in my plumbing skills to fix.
All told our expenses were higher this month than we would have liked. But I think the lesson here is simply that sometimes shit happens. Learn from it. For me, it’s that I need to learn plumbing. Once I actually have time post-FI the first thing I’m going to do is start boning up on how to work that little magic.
Hope you all had great new year!