June 2019-Balance Sheet

We’re at the halfway point of 2019. June was fantastic for savings, and we’re seeing our dividends growing steadily. It really is fantastic to see progress. We just need to stay the course and make the best decisions we can with our money. I’m optimistic our balance sheet will improve over the rest of 2019, and over the next 10 years of this blog.

May Review

We had a savings rate of 29.48% in May, which is right in line with our goals. We fell short of saving $2,000, but we did save $1,610.92 or a bit over 80% of what we want.

June Balance sheet

We had a lot to save in June because we didn’t spend anywhere near as much as previous months. Just to recap, we didn’t have any miscellaneous expenses and that showed up on the balance sheet. In addition to that, we had a boost to both our income and savings because June is such an active month for dividend payouts.

We invested a total of $1,531.34 between APLE and ABBV. Plus, we reinvested $287.46 from dividends.
$1,531.34 + $287.46 = $‭1,818.80

That means we had a savings rate of 32.05% for June.
($1,818.80 / $5,675.42) * 100 = 32.05%

We didn’t reach our savings goal of $2,000 in June, but we’re getting closer and more consistent with our investments each month.

Take Aways

Once again we were able to save above our goal of 25% of total income. I think its fair to say we set the bar too low with this goal, and we should probably try and raise it after July. Speaking of streaks, we also continue to not save $2,000 per month. We almost made it in June (91%), but it just wasn’t enough. I think we should keep this goal where it is for now. The more we reinvest our income, the easier this will become.

  • We have a savings rate goal of 25%, and we saved 32.05% this month.
  • I try to save $2,000 per month. We contributed $1,818.80, or 91% of the amount we want.

Here is a link to our current Goals.

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Dustin

Author of firein10.com Tracking my goal of achieving financial independence in 10 years.

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