2016 in Review

Our net worth increased by $24,165 in 2016.  Our total take home pay including our tax return was $72,424.88. So we ended up saving 33.37% of our annual pay. Not to shabby! Last year we saved a whooping 36.5% of our income. I think the main reason for the decline in our savings rate was our European cruise.

*Please note I removed the car fund since that is an expense account

jan16and17

August 2016 Net Worth

So, coming into August we still have $5,500 we need to save in order to hit our $92,000 housing fund goal. That’s a saving of $1,375 for the next 4 months which is going to be pretty steep!  I just paid $1,400 towards our annual car insurance bill out of the car fund at the beginning of this month leaving another $275 due plus we have our annual car tax which is about $350. Next month is our daughters birthday and we are taking her to Disneyland Paris which is already paid for except the train ticket from our local city into London and of course food and whatever else we buy at the theme park. Hopefully we can stay around $500 for the rest of that vacation. Good news is we almost have a net worth of $180,000! 🙂

 

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laundry

Hello all! So, I have been wanting to do this experiment since moving overseas. I hang dry all our laundry except for the towels because they get all hard and not pleasant to use when getting out of a nice hot shower :-/ My friends all think I’m nuts because hanging clothes to dry in the states just isn’t the norm but I prefer trying to minimize our bills. I started staying home when we moved here and I think I have several jobs the main one is of course to care for our little ones, than keep the place clean, and minimize our expenses. I minimize them by cooking most of our meals and hanging the clothes to dry.

So, onto the experiment…. I basically logged the times, the meter readings, and kept what I was using in the house constant (tv on, desktop on, …) for the two hours it took to dry the one load of laundry. Yes! Two very long hours it’s ridiculous! Anyways, back to my findings. I found that when the dryer was on we used 4 kWh more than when the dryer wasn’t running for two hours. We pay 9.712 pence (currency is in pounds) a kWh which is 38.85 pence for each load of laundry if I do 5 loads of laundry a week and dry them all that would cost us 101.01 pounds a year and with today’s’ exchange rate of 1.42 that would equal $143.43 just to dry our clothes! When I first calculated the 38.83 pence a load I thought “Wow, maybe I should just use the dryer for now on”. Until, I calculated the yearly cost. I don’t think using the dryer is worth $143 a year I would prefer to do something else with that money. In conclusion, I’m going to stick with hang drying our clothes.