March was very similar to February, in a number of ways and it’s reflected in the balance sheet. While we were able to attain a better savings rate, we continue to run into higher totally monthly costs. Also, we need to continue to get food costs under control.
February saw some perceived higher than usual expenses. We recognized some areas of improvement but were still able to save.
March Balance sheet
Just like the previous month, our expenses were a bit higher than what we think normal is. You can see those examples in both February and March’s Cost of Living posts. Our income was a little higher in March, but overview the balance sheets are similar. One big difference in March is savings. We saved $2,480.61 through reinvestment and investing our savings from this month. I got that taking $2,250 we invested in dividends this month, plus the reinvestments of our Investments ($230.61).
$2,250 + $230.61 = $2,480.61
The savings rate for March 2019 turned out great! We saved $2,480.61 on a total income of $5,374.67.
($2,480.61 / $5,374.67)*100 = 46.15%
March turned out to be similar to February in both income and expenses. Time will tell if those expenses are normal, or temporarily inflated.
- We have a savings rate goal of 25%, and we smashed that by saving 46.15% this month.
- We also achieved our goal of saving $2,000 per month. We contributed $2,250.
Here is a link to our current Goals.