July 2020 Income & Expenses – Savings Rate: 87,3% !

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Flow Diagram For My Income & Expenses In July 2020

A great month in terms of savings! Here is my income & expenses for July 2020.

The flow diagram visualizes both my income, expenses & savings in the same figure.

The currency is as always USD $.

 

Income

Here is what my income looked like in July 2020:

My income this month was $9,986.

Expenses

Here is what my expenses looked like in July 2020:

My expenses this month were $1,269!

As always I strive to reach a passive income level of $1,666/month,Β  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 87,3% !

My goal this year is a savings rate above 75Β %! 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:Β 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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2 Replies to “July 2020 Income & Expenses – Savings Rate: 87,3% !”

  1. ImpressivπŸ‘πŸ‘ When are you publish net worth report for July?

    1. route2fi says: Reply

      Thought of skipping it this month. But maybe I should do it after all?

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