Blog Posts
It's hard to believe that January is already over! We had a relatively productive month in the Summit of Coin household. We prepped for our buy nothing new challenge by purchasing birthday gifts for our nieces and nephews this month. We covered January thru May. That means over the next four months, we won't be buying any gifts or anything else new!
Wow, what a year! We celebrated my daughter's first birthday and our 4 year anniversary in 2017. We made three trips to Nebraska to see family, most recently over the holidays. We had a great time playing cards and enjoying each other's company. We are now diving back into our busy lives.
As we enter into the homestretch of 2017, its time to update everyone on our spending percentages from the last three months. Despite our monthly updates on "buying nothing new," I am still posting our spending rate, because the spending rate articles focus on reaching a savings goal.
We are now half way through the year with the arrival of July. This calls for an update on the Summit of Coin family spending. Things for our family have become really interesting and our savings has not been up to our normal Summit of Coin Savings. With the start of our daughter in daycare and other expenses, we did not reach our savings goal over the past three months. Our goal is 35% for the entire year (with an understanding that some months will be better and some will be worse. Let's jump into our April spending report.
One of the best ways to reach financial independence is to have a high savings rate. Each year we push for increased savings and set a savings rate goal. This year, we are shooting for a 35% savings rate, so let's find out if we are on track to hit this 35% goal in the first 3 months of the year.
