How Much Did I Save In 1Q 2019?
March was a great month of my savings. In other articles, I already discussed the importance of tracking your expenses in order to improve your savings rate.
It is also important to know how much you would spend on a regular month, so any extra income can be redirected to your savings/investments.
March for me means a bonus. I do not consider it as a part of my salary due to the fact that is based on the company performance and can be at any time put on hold if things go south. Knowing beforehand that I would be entitled to a bonus for 2019, I immediately planned how much of it I would save here:
Being in April 2019, I thought it was time for a quarter review. As an investor, you keep hearing about earning results so why not apply it to my financial results?
Let’s check my quarter saving results:
January: $1689,23 February: $3029,34 March: $8277,20
I am aware that March is a special month and it makes the graph look pretty nice. So let’s focus on the average saved amount per month which is $4331,92. This value will be the reference for the next quarter and I know it will be hard to beat, but we must set goals.
“You cannot improve what you don’t track…”
Therefore from 2019, I started to seriously track all my financials. By seriously I mean I make it a monthly ritual. Yes, it takes time to compile everything but I do like the visibility I have on my personal finance.
It started with my savings. As I am also building extra income streams, I will start to track these as well.
How much are you saving each month? Share your goal with me in the comments below.
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Disclaimer: I am not a financial advisor. Always do your own research when investing.
