The savings rate, because the journey to financial independance really starts with controlling your expenses. It’s a key principle in order to set you up for financial growth.
There’s many excellent quotes on the topic of saving, this one stuck with me:
“Don’t tell me where your priorities are. Show me where you spend your money and I’ll tell you what they are.” —James W. Frick
In this section I will present my monthly income and expenses. The income figure presents just my income from salary.
My goal for 2019 is to achieve a savings rate of 75%. It’ll be hard reaching this goal, but no point in setting a target which is meaningless, right?
All of these savings will be invested and flow into my portfolio.
January was a tough start of the year as I incurred some unforeseen expenses. Thankfully February and March were much better and it appeared I was back on track.
Then April and May hit and I’m in pretty bad shape for the year, hopefully I can recover over the next few months.
June wasn’t too bad, fingers crossed for July and August with an upcoming holiday!
Let’s try and keep it up!
|Month||Income||Expense||Saved Amount||Savings Rate|