Savings Rate

Savings rate

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.

Savings Rate 2019 65%

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!

MonthIncomeExpenseSaved AmountSavings Rate
January2,7151,2331,48254.60%
February3,4503623,08889.49%
March2,8926442,24777.72%
April3,0192,10291730.37%
May5,3332,2363,09758.07%
June6,3721,6624,71073.92%
July
August
September
October
November
December
Total23,7818,24015,54165.35%