It’s the Most Wonderful Time of the Year

American households are taking on record amounts of debt. Inflation is at a 39-year high. Still, Americans managed to spend more on Christmas than they have in 14 years.

Not this household. We spent less than we ever have due to my wife’s ingenuity and our local Buy Nothing chapter.

Nailed it.

It was the perfect ending to yet another banner fiscal year for our household.
Here’s our end-of-year report card, which consists of three parts:

  1. I pore over bank statements to see how our household spent every single penny.
  2. I calculate how much we saved for retirement and the percent change from the previous year.
  3. I calculate our household net worth and compare it to the previous year.

1. So, where did our household spend its money this year? Here’s a tiny snapshot.

Dining, Take-Out, or Delivery: $1,713.71 (to put this in perspective, Em and I each spent an average of $16.47 per week)

Travel: $106

Clothing for Myself: $32.24

Electronics: $1,481.08 (two new cellphones and two Fitbits)

2. Our total retirement savings climbed 30% in 2021 (almost identical to last year).

3. Your net worth has nothing to do with your actual worth, but it is indicative of how much shit you have to take from the man. We saw our household net worth climb 18.18% in 2021.

How did you spend your money in 2021? Are you provisioning for the future? What can you do differently in 2022 to improve your overall financial health? I suggest you perform your own financial health check-up and set some goals. Your future self will thank you.

Frugal Tip: I think this goes without saying, but make sure everything you pay for or are billed for is attached to your cash-back/points credit card.

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