Savings Rate

The 2016 Summit of Coin Spending Rate

The 2016 Summit of Coin Spending Rate

Every quarter and every year, I breakdown our spending and savings rates. A spending rate when compared to a savings rate will affect how fast you can reach financial independence.  The lower your savings rate, then the longer it will take you to reach the financial summit. In 2016, we had a 35% savings goal, which is 5% lower than our savings rate in 2015. Our goal dropped because of home ownership. It is amazing at how much money a house can suck out of your bank account. With all of that in mind, let's break down the October savings rate.

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It's National Save for Retirement Week

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It's National Save for Retirement Week

I found this picture and knew it just fit this time of the year. Fall is my favorite season of the year, because it involves some of my favorite things to do. With Football season and the build up to the holidays, what is there not to love? I love at how the weather changes from summer to fall. Living in Texas, the summers can be pretty hot, but the fall weather in Texas is beautiful. I have enjoyed many fall days outside in the cooler temperatures this year. Along with the cooler temperatures, comes a change in the color of the trees. The leaves fall and the vibrant reds, yellows and oranges fill the horizons. This is probably one of the things that I miss the most about living in Nebraska. We don't get the full seasons in south Texas, and my only opportunities to see the weather change is to visit the Northern States. 

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Our 2016 First Quarter Spending Rate

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Our 2016 First Quarter Spending Rate

Last year, I had set a goal to do a monthly update on spending each month.  This year, I have decided to do a spending rate article every quarter.  This way I can devote more time on other articles.  As you may recall, our 2016 goal is a 35% savings rate, mainly because we did not hit our goal last year and the fact that we now have a mortgage payment.