August 2020 Income & Expenses – Savings Rate: 92,7% !

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Income & Expenses For 2020 As A Whole

Here is my income & expenses for this year so far.

Income August 2020

Here is what my income looked like in August 2020:

My income this month was $15,175.

Expenses

Here is what my expenses looked like in August 2020:

My expenses this month were $1,098!

As always I strive to reach a passive income level of $1,666/month,  it would mean I would be financially free! More on that in the net worth report.

I really consider buying things before I actually do it. FIRE has made me save a lot of money, but at the same time, I sometimes blame myself for spending money on things that I know I could survive without (fancy dinners eg.).

It feels good in the moment, but it doesn’t give me enough pleasure to defend the high costs.

Tracking my expenses is motivating and fun. It really makes me think twice about buying things.

Savings rate

This month’s savings rate was 92,7%!

My goal this year is a savings rate above 75 %!

I’m proud to tell you that my savings rate for this year so far is 83,9%!

I will keep pushing to increase my savings rate, but I don’t want to do it in the trade of having a good life every month.

It feels too good to load up my index funds, and in the next post about my net worth, you’ll see how my progress is.

Read all my posts in chronological order here: Archives

Have questions, comments, or suggestions? I would love to help you with your FI-journey.

Feel free to reach out directly at @Route2FI on Twitter or email me at post@route2FI.com

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October 2019 Income & Expenses – Savings Rate: 84,9% ! November 2019 Income & Expenses – Savings Rate: 69,2% ! Every Dollar I Earned, Spent And Saved In 2019 – Savings Rate: 73,2% ! January 2020 Income & Expenses – Savings Rate: 68,1% ! February 2020 Income & Expenses – Savings Rate: 72,7% ! How Do I Save 70-75% Of My 9-5 Income Every Month? May 2020 Income & Expenses – Savings Rate: 80,3% ! July 2020 Income & Expenses – Savings Rate: 87,3% !