I Saved $3668 in January 2020 – Road To Financial Freedom
For the past months, my savings rate has not been great. This is due to the fact that I am paying both rent and mortgage.
Hopefully, I will be moving in soon so I can add my current rent payment to my savings.
On the income side, January was a solid month due to the extra days worked and is likely to be one of my top months in 2020.
For the record, I do not have a fixed income like most people and I can easily have 10 to 15% fluctuations month-over-month.
Below are my 2019 saving results:
So as we can see, I ended 2019 with an average saved amount of $3725 per month.
In January I was able to save $3668. This is within my average of 2019 due to the conversion EURUSD.
However, I have an ambitious goal of saving $50K in 2020. This translates to $4167 per month and I could not beat the expected result.
One of the main reasons why I did fail my monthly goal, was that I had some extra expenses with the car I am planning to sell.
I am selling it and I had to do some maintenance to put it up for sale. Hopefully, I will be able to sell it fast so I can get extra money soon.
In January I was not able to add as my investment accounts. Most of the money went to a savings account due to the fact that I need money to pay the last part of the apartment, kitchen, and furniture.
If you are curious about my portfolio distribution, please check here.
For the ones, interested in the Stock Market, I am now running a FREE weekly newsletter on which I share some of my investment ideas and discuss purchases for my Stock Portfolio. Subscribe here
I am fully focused on improving my financial life and I take it as a step-by-step process.
“Financial independence comes from small goals compounded…”
In 2020, I will continue to track all my financials. I make it a monthly ritual. It is true it takes time, but I do like the visibility it gives me over my personal finance.
How much are you saving each month? Share your goal with me in the comments below.