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Originally posted by clatoden99
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That's great. 
One thing I have learned, however, is that projections like this can tend to be optimistic. Don't discount the possibility you may need to cut back on savings due to some kind of emergency situation.
One thing I have learned, however, is that projections like this can tend to be optimistic. Don't discount the possibility you may need to cut back on savings due to some kind of emergency situation.
Originally posted by clatoden99
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That's great. One thing I have learned, however, is that projections like this can tend to be optimistic. Don't discount the possibility you may need to cut back on savings due to some kind of emergency situation.
One thing I have learned, however, is that projections like this can tend to be optimistic. Don't discount the possibility you may need to cut back on savings due to some kind of emergency situation.I went back to our 2016 budget and added our total savings/total income.
2016
Monthly -- % of Income Saved
Jan-56%
Feb -54%
Mar- 49%
Apr- 57%
May-54%
June-45%
July-60%
Aug-56%
Sept-52%
Oct-52%
Nov-53%
Dec-34%
Rate = 52% (average)
It was an eye opening to find out, i've been saving 50% our income for over a year now.
A lot of times, we do our normal things--without really quantifying how much are we really savings versus spending. And when you start analyzing the detail, its become obvious and somewhat powerful, numbers "don't lie" per se when we become intentional saver.
December savings declined to 34% the lowest rate of the year--because we cash flow the entire Christmas gifts/spending. We did not use credit. While July came at 60% savings rate, we received raises and saved all of it, typical ebb and flow.
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