Another month behind us, and more progress made. April’s balance sheet had a little added income and expenses with taxes, and a vacation. We earned a little more than last month, and spent less also. We do need to continue to spend less.
March was a month with a great dividend return and high miscellaneous spending. We achieved both the saving rate and investing goals.
April Balance Sheet
While we didn’t receive a large amount of dividend income in April, we did add $1,500 to dividend growth. It wasn’t enough to meet our goal of saving $2,000 per month, but we did meet our savings rate goal! Because we reinvest our investment income and credit card rewards, we are adding that to our savings this month.
$42.33 + $66.41 + $1,500 = $1,608.74
A total savings of $1,608.74 adds up to a savings rage of 27.1%.
($1,608.74 / $5,935.84) * 100 = 27.1%
April would have been comparable to March if not for taxes hitting the balance sheet. It looks like we have a big jump in income, but its offset by the federal taxes we paid. Just like previous months, we need to get our unexpected costs down. The good news is that we continue to save consistently. I don’t think there is any doubt that we would have reached our savings goal had we not taken a vacation. However, I’m more than happy to take that time and get away.
While I want to be aggressive with these goals, I’m flexible enough to sacrifice here and there for some stress relief along the way. After all, this is still a journey.
- We have a savings rate goal of 25%, and we saved 27.1% this month.
- I try to contribute $2,000 in new money every month. In April, we added $1,500, or 75% of our goal.
Here is a link to our current Goals.