February was a little bit of a let down on the spending side, as you’ll see below. However, we still found ways to reinvest so progress was still made! I’m trying to cut down on the spreadsheets on this balance sheet and display the data more visually. Hopefully, it’s more engaging.
January was the first time we posted any expectations and basic results. It was more for a starting point than an average or metric. Jump over and check it out if you’re interested. We did set a few Goals there though, and we’ll continue to work on attaining them every month.
February Balance sheet
While our income was relatively steady, our expenses were not. We explained the reasons for that in our February Cost of Living post. In review, we had a lot of annual cost expenses fall on this month, as well as a few unexpected costs like car repair and pet bills. However, we were able to save a total of $1,152.13 through reinvestment and investing our savings from this month. I got that taking $1,000 we invested in dividends this month, plus the reinvestments of our Investments ($94.90) and Rewards Card income ($57.23).
$1,000 + $94.90 + $57.23 = $1,152.13
Since we’re doing math already, let’s calculate our savings rate for February 2019. We saved $1,152.13 on a total income of $5,101.15.
($1,152.13 / $5,101.15)*100 = 22.58%
Here is a comparison of February 2019 to January. The expenses this month were almost double that of last month. Hopefully, March will see some improvements in both income, expenses, and therefore, our savings rate.
- We have a savings rate goal of 25%, and we saved 22.58% this month. So close!
- Unfortunately, we didn’t reach the goal of saving $2,000 per month. We did contribute $1,152.13, or a little over 50% of the amount we want.
Here is a link to our current Goals.