[Almost!] Every month I’ll post an update on my finances from the last month, with a focus on increasing income, spending less, and maintaining a high savings rate. You can see previous updates here.
Results – June 2017/Half way through 2017
2017 is half over. Here’s what the cat dragged in:
2017 Savings Rate: 53%
I didn’t do a progress update for last month and figured I would do one for June and reflect on the first half of the year so far.
I’m happy with where I’m at, even though my savings rate was almost 10% higher just a couple months ago. I think over 50% is still a good area to be in, and I’ve decided my stretch goal will be to end the year over 60%.
So I’ve had some bigger expenses come up. In May my phone met it’s demise (I like to think it did pretty well for a 4 year old phone). It was also the beginning of a particular rough stretch at work, which has been a lot more draining and exhausting. The upside is I’m getting a bit more overtime which is starting to show up in the current round of paychecks.
June was the month of car upkeep – registration, emissions test, oil change, and new tires means I’m about $700 poorer – which is 2-3 months of car payments, so no complaints here.
One bright spot is only $15 eating out last month! This is in conjunction with us making more of an effort eat healthier and try new foods, so our grocery bills have increased. As we get more efficient with our cooking, I expect the amount we spend on food to stabilize.
- Half way through the year I’ve only spend $12 on clothes – I bought new socks.
- My work 401k changed providers so my account was offline for almost 2 weeks. At first this was stressful – I hadn’t really noticed I had the habit of checking account balances every other day or so. Lately it’s been once or twice a week.
- While I primarily stick to long-term index investing, I am interested in tracking dividends I receive – so far, I’ve earned about 66% of what I earned all of last year. I actually forgot about dividends getting paid out for a little bit, and it’s a nice reminder that decisions past me made are, ahem, paying dividends!
How have you done half way through this year?
Thanks for reading!
I calculate my savings rate as follows:
401k contributions + employer match + debt payments + other savings / Take home pay + 401k contributions
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