Calculated my savings rate for the first time ever...

[Davids]

I have never calculated my savings rate but decided to give it a try so I calculated my May 2015 savings rate as all expenses are accounted for the month. I came in at 73.55% for my savings rate. I am impressed as this month did have slightly higher expenses than usual.

A couple things of note for when I calculated my savings rate. I did not include my employers 401K match (6%) as part of my revenues (nor any investment gains). For my mortgage I only included the interest as my expense. I did not include the principal portion of my mortgage payment as an expense.

I work full time and my wife works part time right now (we have a 1 year old son). My wife works a minimum of 48 hours per month (3 weekends a month) but she may also work 1 or 2 additional weekdays during the month if there is availability and if my wife wants to work that day and we can get my mom to watch the baby. This month she did work one additional day so she worked 56 hours this month. So our revenue side can vary depending on how much my wife works during the month. We are fine on just my full time salary alone (using just my full time salary the savings rate is 60.92% for the month) but she still works part time so there is no gap in her resume and the plan is once our baby is 2-3 years old my wife will go back full time.

I think I will keep doing this exercise every month. I imagine my August rate will be much lower as that is the month I pay property taxes, auto and home insurance renewal but at the same time April would be a much higher savings rate month as that is when I get paid my annual bonus. I purposely chose this month to do my savings rate instead of last month due to that reason.

[forummm]

Nice job on calculating your rate for the first time, and big congrats on the HUGE rate! That's really high. I think most people count employer match, since that's part of their savings--it's really just part of your salary that isn't called that.

I count 1/12 of my property taxes, insurance, etc each month so the numbers are comparable across months.

[Middlesbrough]

Badass! Keep that up and you will be free in no time!

[Davids]

Nice job on calculating your rate for the first time, and big congrats on the HUGE rate! That's really high. I think most people count employer match, since that's part of their savings--it's really just part of your salary that isn't called that.

I count 1/12 of my property taxes, insurance, etc each month so the numbers are comparable across months.

That is a good idea, i may remodify my calc to break property taxes and auto and home insurance as 1/12th instead of just counting it all on the month i pay.

[Bob W]

That is so awesome! 
I bow to you!

 If you can bump your income up by a smidgen and laser focus on reducing spending you could be in the 90% promised land in no time. 

[StockBeard]

I came in at 73.55% for my savings rate.

Impressive! We can't seem to break above the 50% line at this point in 2015, despite our best efforts.