PURPOSE

In support of my 2019 Goals, I plan and track my income, savings & spending in a monthly budget.

In addition to my annual goal, I also compete (with myself) to have the highest possible monthly savings rate—I aim for 70%. Savings rate is often considered a benchmark for financial health and a brag worthy metric—the latter of which I am indulging in for the first time right now.

DEFINITIONS

Savings rate calculations can be open to interpretation, so here are the definitions I’m working with:

Savings = anything that increases my net worth:

• 401k contributions

• Roth IRA contributions

• principle payments on a loan

• savings account contributions

Income = take home pay + 401k contributions

Savings Rate = Savings / Income

THE NUMBERS