Didn’t you get a raise from the tax cut during the year? Or did Your bracket not change?
Probably a pay raise that he isn't accounting for.
And as a young up and coming engineer, if he didn't get a pay raise last year then he needs to look for a new place of employment.
So I finally got around to figuring out some rough numbers. I made an extra $80/month due to the tax cut, but now I owe $400 to the government, so I made an extra $560 purely due to the tax cuts. Add to that a pay bump of $3000 from moving jobs which was taxed about $600.
But my property tax went up $100 and my healthcare went up about $900 this year, but my gas costs was only $1000 compared to $2000 the year before (new job is much closer), so I effectively made about $3000 more after moving jobs and the tax cut last year.
Overall I did end up saving less money this year though even after making an extra $3000, but I have to dig deeper into spending. I didn't take a vaca, nor bought a big ticket item, or change my lifestyle, so I have to see where the extra money is going. Because it's a lot of money (unless I made a mistake elsewhere).