Boy, I have I been busy lately! I have been neglecting this poor little blog. I hope to have a chance to catch up with my blog reading this weekend. Frankly, I am considering calling in sick tomorrow. I have 2 meetings and 2 conference calls on Friday. So if I don't want to go into work, tomorrow is my only day.
Anyways, on to the point of this post!
I calculated my anticipated savings rate today, it is about 22% of my net pay. I've read a lot of FIRE blogs and most indicate that savings rate is the most significant factor in reaching financial Independence. Based on my anticipated savings rate, I want to try and increase it to 25% by the end of the year. I need to develop a new method to track my savings. This will be a hard goal to balance with my goal to pay down my mortgage.
My job is crazy (it'll have to be a whole separate post) and stress ridden. I really need to see the needle start to move towards financial independence in order to continue to work there. I hope increasing my savings rate gives me the emotional and mental boost that I need.
Hey, Michelle. Where are you, girl?
ReplyDelete1 - FIRE blogs often recommend that people save like 65-80% of their net pay. A 25% savings rate is not bad by any means. Most Americans save less than 5% likely.
2 - What's going on at your job now that's making it crazier than usual? ;-)
How are you? You haven’t posted lately. Looking forward to a new report! You are making progress toward your goals of paying down mortgage and saving for retirement, those are the main things.
ReplyDeleteThis seems really low for you. Does this not include all the extra payments you make to your mortgage?
ReplyDelete