Savings Update

Savings Update

Savings Update

The first half of the year is already a few months behind us. At the end of last year, I set a goal to save at least 40% of my pay. Once I set a goal, I love nothing more than to hit it. So, here we go on just how things played out for the first half of the year savings wise.


months were better than others…but you knew that was coming. I increased the amount we are paying on our mortgage intentionally. By doing this, I knew I’d be reducing the overall amount saved. Although the savings rate suffered a bit due to this, I am on track to be mortgage free way ahead of the 30 year schedule they set for us. More on that in a different post though.

The summary

Well, for the first six months of the year my savings percentage rate was…43.8%! I’m 3.8% better than the goal I set out with for the year! Like I mentioned earlier, some months were better than others. The lowest month ended up with a savings rate of 28%. On the flip side, the highest percentage month came in at 59.7%! I am really happy with the results for the first half of the year, even with higher payments on the mortgage. 


Total % Saved Mid Year 2019

The second

half of the year is going to make or break the initial goal for the year of 40%. If I can continue to save how I have been for the first six months, all is good. As you know, sometimes the unexpected happens.

I hope

you enjoyed the data on my savings update. I also hope your savings goals are on track for this year as well. With a little luck and a lot of discipline, the FIRE dream can become a reality. Don’t give up and remember that some months are going to be better than others. It’s all about keeping your focus and staying on the path to financial freedom, despite the obstacles that will surface. Keep saving! 

Best Spends May 2020

Best Spends May 2020

Best Spends May 2020 In this post and in the series of posts related to best spends, I will provide a closer look at some of the spends I felt the best about. In May, here are a few that stand out among the rest. Delivery So many people are now adjusting to a new way...

Best Spends Q1 2020

Best Spends Q1 2020

Best Spends When it comes to life, let's be realistic - you are going to spend money. Spending money is necessary to survive in today's society. From your mortgage or rent to car payments and groceries, money flowing out the door is all too common. Some spends are...

How Do I Pursue Financial Independence?

How Do I Pursue Financial Independence?

Not all that long ago, I stumbled across the FIRE (Financial Independence Retire Early) community. Having always loved numbers, I found myself digging in to all kinds of websites and blogs to learn more about why people pursued FIRE. After starting my own website and...

About The Author

Brent H

Currently, I am a senior level Organizational Development consultant, have a loving wife and two beautiful daughters (13 & 7), have published three books, run a couple of websites (like this one), love to travel, and am decent at the game of golf. I also love numbers. I’m into financial blogs, love statistics, and read too much about retirement. While there are plenty of much smarter people in these fields, I like to think that I generally know what I’m doing.

Leave a reply

Your email address will not be published. Required fields are marked *

Learn Money Concepts!