2017 Recap

Time for my annual post (haha!) to review the events of the past year. A lot has happened between 2016 and 2018. Before this post, I did take the time to update my portfolio, passive income page, and my net worth, so feel free to take a peak.

You’ll notice a couple changes to the portfolio page. I no longer have my Fidelity account for my 401k from cashiering. It didn’t have more than $1,000, so it was automatically liquidated. They retained money for taxes and I applied the rest (in addition to some savings-totaling $1,000) toward my car loan. Additionally, my Roth has shrunk substantially as I took advantage of the rule stating individuals could take up to $10,000 gains and all penalty free for a first-time home purchase. That’s right! I’m officially a home owner. My own 646 square feet.

Additionally, my networth increased 24.08% over the course of the year. As someone who has not tracked my financials much over the past year and who has substantial medical costs, I’m happy with that increase. I do hope for better this year. I am currently going over my transactions from 2017 to nail down where money went and will work on cutting costs and increasing income.  I do believe one reason it didn’t increase more was due to Loyal3 transitioning to FolioFirst, which means I no longer had automatic investing of $30 a month and instead received $5 a month in fees, which I have not fixed as of yet (it’s on the ever growing list of things to do).

For the very first time ever, I worked a full-time job for a year! I have been employed at the company I currently work for since December 1st, 2016. That is one of my biggest achievements and something I am very proud of. At this job, I made roughly $36,662.07 in gross income. YAY! Especially considering my last post stated I had not quite made $20,000. Huge increase. Now I do recognize that if I had been paying better mind to my finances, that my networth would have increased dramatically with that change; however it did not due to my break in financial management.

Each year, I pick a word of the year to live by. Last year was Courage. A variety of things took substantial amounts of courage last year, whether it be moving out on my own, working in a role where I actively applied my mental health recovery, or applying for a supervisor position at my job. Additionally, I tackled some very difficult things from my trauma in therapy, which is always fun.

Now onto my financial goals for 2017:

  • Net worth of $22,500

I did accomplish this goal at one point. In May I had a net worth of $23,336.13, however that was the only month I had a net worth higher than that goal. Knowing my current income levels as well as where I am at net worthwise, 17,8861.31, my goal will be the same (unless I hit it and maintain it, then I will reevaluate). I feel it would be unfair of me to increase the goal when I have not yet truly met it.

  • Portfolio of $17,500

I did not accomplish this goal either (seeing a trend, yet?). My portfolio is currently sitting at $14,558.95. I am substantially far from the above goal as well. As my 401k has a 5% contribution from me and a 5% contribution from my employer (which will, unfortunately change in the middle of the year, I’ll do 5% for six months and half that for the next six months, just to be conservative) my portfolio will automatically become (assuming flat change) $19,141.71. Knowing that, I will change my goal to $21,000, which means I will need to increase my portfolio an additional 1,858.29, which is roughly 5% of my take home pay. The reason for this goal is because one of my main financial goals for this year will be to pay off my car, so I will be pushing more money into that.

  • Auto Loan to $6,000

This is probably the closest quantitative goal from last year. My auto loan currently sits at $6,421. Knowing that I was so close is frustrating, though I gave it a fair go at the end of the year with my additional $1,000 payment. Tackling this loan will be my most forefront financial goal outside of lowering expenses and increasing income. My first step to tackle this will be to increase my auto payment from the minimum of $171.19 to a flat $200. That will apply an additional $345.72 to principal from the get go (so long as I make it this month as well). I have saved mileage money I get paid by my company in a goal on my Qapital account as well. Currently, there is $1,226.57 in that account, which means I could have actually met this goal had I been paying attention, especially since my deductible on my auto insurance is only $500, but I don’t feel comfortable taking large chunks out of this account just yet as I want it to cover anything automotive related outside of gas and miscellaneous items (wiper fluid, etc.). Additionally, I have $12.50 added to my PSCU (where my auto loan is held) checking account each paycheck. This account will have a total of $625 at the end of 2018, which I could also allocate to my auto loan. I also picked up Lyft in 2018, so I plan to apply all proceeds to my auto loan. Therefore, I will make my goal to have my auto loan down to $1,500. The amount of principal that will be paid from regulary payments is $1,800. If I total all of it up, it comes to just shy of $4,000 contributed to my auto loan. This means I will need to pay an additional roughly $1,000 toward the auto loan. Fingers crossed that I follow through!

  • Dividends to $250

I did not get even close to this goal. I reached $170. According to my portfolio sheet, I should expect roughly $200 in dividends this year. Therefore, I want to put my goal to $215, knowing that this is not my primary goal for the year. I have $65 a month going into my Ally Invest (formerly TradeKing) account. I will add $5 a month to that as that is the current fee for using FolioFirst (formerly Loyal3). I invest once I have enough to make it worth my while as there is a $4.95 trade fee.

  • Credit Card Within Means

Talk about ambiguous goals. What does this even mean? As my credit cards are currently at $4,272, I would say this goal was not met. With the new year, I have switched to using my debit card. I get a little excited with credit card use and once I’ve gone through my transactions, I’ll know exactly where all this went. I think my goal around this more this year is to handle them better  and to pay off three of them, my Smile Generation, Quicksilver, and Target credit cards. As my Discover card currently has 0% for 12 months, I use it for therapy costs, though I need to figure out what is what on this card and pay whatever I owe myself on it while waiting for reimbursements from insurance for the rest of it. Yay for having out-of-network claims to submit on a weekly basis!

Onto Personal Goals:

  • Read 14 Books

Did not happen. Cannot even tell you the last time I read a book, though I’m sure it was around February or March. Will not continue this goal.

  • Visit My Sister in Illinois and My Friend in Rhode Island

This did not happen either. I do have $1,2228.72 saved for a vacation, though I’m apprehensive to use it as I am concerned about my current state of affairs and work climate. My friend in Rhode Island does graduate this May, so this Spring is my last chance. I’ll leave it in mind, but will have neither as a goal.

  • Maintain One Job

As you already know, I did this!!! I stayed in a job at a full-time status for an entire year. I am ecstatic over this and look forward to working with this company until they go out of business on June 30, 2018.

  • Consistent Exercise

I exercised consistently on a monthly basis. I maintained going to the gym for a while, though I’m not sure the last time I went. I have gone to yoga as able between mental health and personal things. I will continue going to yoga, I’m unsure as to yet what to do with my gym membership. It costs me $200 a year.

  • Live Courageously

Also already discussed, I took some major steps this year, the biggest being working in the mental health field where I regularly disclosed my personal mental health status to complete strangers. Taking second would be buying a condo. Third would be starting a relationship with someone I would have never thought could happen. All exciting things and I’m happy with the way I lived last year.

So that’s my year. That’s my 2017. What happened for you last year?

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2 thoughts on “2017 Recap

  1. Congrats on your accomplishments! I think you’ve set yourself up nicely to start off 2018. I hope this year is even better for you and you’re able to meet even more if your goals.

    I too became a homeowner in 2017, and I’m getting used to the extra costs (and headaches) associated with that. Good luck!

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