We are flying through 2015 folks. With two complete months in the book and nearly a third (I apologize this post has taken me a while to finish), we are marching our way through the calendar year. Soon, it will be time for our quarterly goals assessment to see if we are on pace to hit accomplish our goals for the year. Anyway, as February came to a close, it is time to see if I was able to defeat the Dividend Diplomats’ Savings Challenge for the second consecutive month. Let’s review my savings rate summary.
As you have come to see from us Diplomats – each month we share our savings from the income and expense we have endured during the previous month. Our goal is to achieve 60% savings rate in an ever inflationary lifestyle from advertisers, television, peers and co workers. Though it is difficult, we know the combination of being frugal, saving and investing allows us to achieve our financial freedom goals faster, by still enjoying the benefits of life itself. Was I able to hit 60% this month? Let’s check out my income and expense summary from February!
I think I have said this in every article I have written this year….I can’t believe how fast time is flying. We are through one month of 2015 already. It seems like yesterday I was just writing a post about my goals for 2015. One of the most challenging goals was to defeat the Dividend Diplomats’ Savings Challenge 6 times this year! Did I move one step closer to accomplishing this goal after January came to a close? Let’s find out! Continue reading
My third month of taking the Dividend Diplomats 60% Savings Challenge is officially over. I am coming off quite the high note in October as I was able to successfully save 63% of my income! Could I keep the momentum going and achieve the coveted 60% savings ratio once again this month?
Last month I decided to take a plunge and accept the Dividend Diplomats’ Savings Challenge which pushes us and any brave reader to save 60% of their monthly income! This month I am going to try a slightly different method of displaying my savings rate. Last month, I listed the dollar amounts for each category used to calculate my final ratio. However, this month I am going to experiment with a new format (much like Lanny’s) and list each expense category as a percentage of total income for the period. With that being said, it is time to calculate my saving’s ratio for the month!
Another month has passed, another month where I ask myself… Did I hit the 60% savings goal with my income and expense tracker? Did I hit the big mark that I set for myself in August when I was discussing why I am aiming to save 60% of my income? I know Bert did extremely well, saving almost 50% of his income for September. C’mon Bert, step your game up, you have someone to split your income with and you can’t save 50% of it, weak, right? Joking, he did extremely well as I’ve said, now let’s see how I performed in my balancing of the income and expense categories. Continue reading
Last month I accepted Lanny’s challenge to save 60% of my income. As I discussed in my post about my decision, I mentioned that I have been very bad about tracking my expenses and I have never put together a tracking mechanism to calculate my savings rate. Well that has changed and I am now watching my expenses like a hawk. In order to save 60% of my income, I need to watch all income and expense sources closely to figure out where I can trim the fat. Now that September is over, the questions is…Did I save 60% of my income??