Poll

What Was Your Savings Rate For 2015?

0-10
15 (3.4%)
11-20
31 (7%)
21-30
46 (10.3%)
31-40
59 (13.3%)
41-50
74 (16.6%)
51-60
99 (22.2%)
61-70
71 (16%)
71-80
34 (7.6%)
81+
11 (2.5%)
N/A - Retired, Kept Within My Personal SWR
3 (0.7%)
N/A - Retired, Did Not Keep Within My Personal SWR
2 (0.4%)

Total Members Voted: 433

Author Topic: Savings Rate For 2015! [Poll]  (Read 20376 times)

Roboturner

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Savings Rate For 2015! [Poll]
« on: December 14, 2015, 03:16:58 PM »
Curious on how everyone did this year, I set a PR with 70%! Looking to break it next year!

SHARE YOUR S.R. BADASSITY!

Roboturner

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Re: Savings Rate For 2015! [Poll]
« Reply #1 on: December 14, 2015, 03:43:52 PM »
61-70.  We hit our NW goal and our savings % goal but it feels like cheating. Basically, we made more money that we figured we would (it isn't set in stone).  So while we have a high savings percentage we definitely saw some lifestyle creep

Hey, cheating counts! just gives you low-hanging fruit to double down efforts for the new year!

JAYSLOL

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Re: Savings Rate For 2015! [Poll]
« Reply #2 on: December 14, 2015, 04:40:08 PM »
21-30%.  I haven't run the final numbers, probably around 25% though.  Our first year making some lifestyle changes, so considering last years SR was basically 0% we are off to a good start for our (lower than the mustachian average) income range.

Roboturner

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Re: Savings Rate For 2015! [Poll]
« Reply #3 on: December 14, 2015, 04:41:15 PM »
21-30%.  I haven't run the final numbers, probably around 25% though.  Our first year making some lifestyle changes, so considering last years SR was basically 0% we are off to a good start for our (lower than the mustachian average) income range.

congrats! keep at it

Goldy

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Re: Savings Rate For 2015! [Poll]
« Reply #4 on: December 14, 2015, 07:15:24 PM »
Are you just dividing your savings by your pretax income to get the savings rate?

Monkey Uncle

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Re: Savings Rate For 2015! [Poll]
« Reply #5 on: December 15, 2015, 04:32:08 AM »
I think most folks here report their savings rate on an after-tax basis.  To be completely accurate, you'd need to calculate your income by starting with your take-home pay, then adding back in any deductions for insurance, 401k contributions (including the employer match), etc.  Then divide your total savings (again, including both your and your employer's 401k contributions) by the total after-tax pay to get your savings rate.

I'm coming up with around 41%.  I consider that pretty good, as our household was around 12-13% prior to getting serious about saving.

shanghaiMMM

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Re: Savings Rate For 2015! [Poll]
« Reply #6 on: December 15, 2015, 04:42:21 AM »
I don't get too complicated about this. I go to YNAB. Look at the figure it says for 'Income' and 'Expenses'. 100-(E/I).

I got just over 79%. But I live rent free in China. I still have colleagues who live pay check to pay check mind you...


Also, got married this year which may have lowered things, but as my partner is American Chinese, her Chinese relatives ensured our day was a net positive! (Not why I married her, honest).

tarheeldan

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Re: Savings Rate For 2015! [Poll]
« Reply #7 on: December 15, 2015, 05:25:13 AM »
57%, single in NH, shooting for over 60% in 2016!

MandyM

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Re: Savings Rate For 2015! [Poll]
« Reply #8 on: December 15, 2015, 06:01:46 AM »
I'm pretty damn pleased with 67%!!

Zikoris

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Re: Savings Rate For 2015! [Poll]
« Reply #9 on: December 15, 2015, 09:08:00 AM »
It's obviously not set in stone yet, but our projections have us finishing the year at a 57% rate. Lower than last year's 63%, but that was because we did some very expensive travel this year. We're happy as long as we manage to stay over 50%.

REAL WORLD EXPAT

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Re: Savings Rate For 2015! [Poll]
« Reply #10 on: December 15, 2015, 09:21:28 AM »
78.52% - should hit 80% next year now the mortgage is done. Our savings rate has steadily been raising every year as our income increases yet our lifestyle remains the same (or in the cast of this year really cut back spending while feeling we have the same quality of life!).

Guizmo

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Re: Savings Rate For 2015! [Poll]
« Reply #11 on: December 15, 2015, 10:00:03 AM »
Wow, I'm probably around 50% this year. You all have impressed me and I will work hard to increase it next year.

druth

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Re: Savings Rate For 2015! [Poll]
« Reply #12 on: December 15, 2015, 10:53:34 AM »
I only recently found out that everybody was doing SR out of post-tax, so I get to feel extra badass as my SR "magically" went from 48% to 66%.

Stashaholic

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Re: Savings Rate For 2015! [Poll]
« Reply #13 on: December 15, 2015, 11:17:58 AM »
My wife and I's SR dropped from about 40% last year to right around 20% this year due to having a baby and the wife going part-time and not working for a few months. We also refied the home to 15yr and that increased our payment and took away from savings. We'll see how we fare in 2016.

Jon_Snow

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Re: Savings Rate For 2015! [Poll]
« Reply #14 on: December 15, 2015, 11:28:01 AM »
Right around 70%...and I don't even have a real job anymore. ;)


StockBeard

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Re: Savings Rate For 2015! [Poll]
« Reply #15 on: December 15, 2015, 12:26:58 PM »
We're at 60% of our (post-tax) income saved so far in 2015!

dude

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Re: Savings Rate For 2015! [Poll]
« Reply #16 on: December 15, 2015, 12:57:42 PM »
47.1% of after-tax income, not including employer's contribution to my pension; including that jacks it up to 69.2%

StockBeard

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Re: Savings Rate For 2015! [Poll]
« Reply #17 on: December 15, 2015, 12:59:59 PM »
including that jacks it up to 69.2%
Wow

Kaspian

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Re: Savings Rate For 2015! [Poll]
« Reply #18 on: December 15, 2015, 01:04:44 PM »
51% and will probably end with 53%.  Goal was 56%.  ...But I screwed up.  :)

marty998

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Re: Savings Rate For 2015! [Poll]
« Reply #19 on: December 15, 2015, 01:11:12 PM »
Can't work it out. Too complicated these days :)

psinguine

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Re: Savings Rate For 2015! [Poll]
« Reply #20 on: December 15, 2015, 08:38:02 PM »
Well it's not year end just yet, so I have to do a little guesswork.

If I count the debt we paid off, as well as the principal payments on the mortgages, as a form of savings then our rate is somewhere around 70%. Of course if I don't count debt reduction that skews much lower, seeing as how we put more than half of our take home incomes this year into debt reduction

Of course we still have three more paydays coming this year, so I think I'm just going to call it at approximately 70% and try to be more specific next year. 

Money Badger

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Re: Savings Rate For 2015! [Poll]
« Reply #21 on: December 15, 2015, 08:42:00 PM »
Interpreting "saving" as ANY saving including after tax savings/investment account deposits, 401K+match, mortgage principal payments, deposits to college funds and that generally is still in our pockets somewhere...

Net result: 36% of pre-tax income.   Or just over 50% of our after tax income.

After tax cash flow safety margin and resulting "after tax savings" in pocket is too low though and a priority for 2016.

dude

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Re: Savings Rate For 2015! [Poll]
« Reply #22 on: December 16, 2015, 06:13:25 AM »
including that jacks it up to 69.2%
Wow

Yeah, I say the same thing every time I see their contribution -- $41,000/year.  Damn.

High FIdelity

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Re: Savings Rate For 2015! [Poll]
« Reply #23 on: December 16, 2015, 06:35:24 AM »
I had thought I was at 31.9%

After i recalculated the MMM way, removing withheld taxes from the equation:  44.3% ..and that is simply taking into account retirement contributions only, not even figuring whatever went into the bank.  Probably a lot closer to 50% after all said and done.

Cant complain about that
« Last Edit: December 16, 2015, 06:43:46 AM by katzeroo »

pachnik

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Re: Savings Rate For 2015! [Poll]
« Reply #24 on: December 16, 2015, 07:03:12 AM »
I was in the "31-40%" camp.  This year I made the biggest contribution to my RRSP account ever + got as much money as I could moved over to TFSAs.   I am somewhat tempted to put in a bit more this month.

Cheers to my fellow MMMers!

PoutineLover

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Re: Savings Rate For 2015! [Poll]
« Reply #25 on: December 16, 2015, 08:12:35 AM »
Wow I did better than I thought actually. I counted my student loan payments as savings (and I paid that all off this year!!) as well as my work pension and my own savings, and I got 47% of net pay. Hoping next year I can get to 50% or higher. I'm amazed at how high some of the rates here are, I hope I get get that badass one day.

horsepoor

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Re: Savings Rate For 2015! [Poll]
« Reply #26 on: December 16, 2015, 08:15:28 AM »
Haven't calculated it, but somewhere around 25%.  I paid off my car and bought an expensive horse and saddle this year.  Next year should hit 50% or so.

2Birds1Stone

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Re: Savings Rate For 2015! [Poll]
« Reply #27 on: December 16, 2015, 09:15:29 AM »
I was EXTREMELY blessed this year.

New career + exceeding sales quota meant I made 225% of my 2014 income.

Savings rate will finish at a VERY healthy 75.5%

Roboturner

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Re: Savings Rate For 2015! [Poll]
« Reply #28 on: December 16, 2015, 10:03:08 AM »
I only recently found out that everybody was doing SR out of post-tax, so I get to feel extra badass as my SR "magically" went from 48% to 66%.

In my opinion there is nothing 'magical' about post-tax SR; in my mind, taxes aren't your money, and never really was, its the gubmint's

MishMash

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Re: Savings Rate For 2015! [Poll]
« Reply #29 on: December 16, 2015, 11:04:49 AM »
50.25%  as I just calculated but this was a HORRIBLE year for us, numerous deaths that required extensive, expensive travel and funeral expenses, car got hit twice while parked, if it was in the house and could break...it did etc, we were literally cursed this year.   I am actually surprised it was this high...

AlwaysLearningToSave

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Re: Savings Rate For 2015! [Poll]
« Reply #30 on: December 16, 2015, 11:29:48 AM »
28.5% with three caveats all relating to the fact we just discovered MMM this year: 

First, we only started tracking spending/savings rates in April.  The true number for the year is probably lower, but I'm not going to take the time to calculate it.  Doing so would probably be depressing and this number makes me feel better. 

Second, this number is what I call our "Quasi-savings rate" which includes both actual savings and student loan debt repayment.  I figure SL payments would be money we save if we didn't have the debt.  We are ruthlessly slaughtering the debt, though, and are on pace to have it paid off by fall of 2016, at which point the income will become actual savings.

Third, I prefer to look at the improvement we made this year.  In April, our quasi savings rate was 10.1%.  In October we hit a 50% quasi savings rate for the first time.  We are making additional changes in 2016 (e.g. to health insurance) which ought to enable us to average more than 50% quasi savings rate in 2016 (knock on wood). 

Carter

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Re: Savings Rate For 2015! [Poll]
« Reply #31 on: December 16, 2015, 07:20:02 PM »
I've only been a reader of MMM for a few months.  I recently signed up for Personal Capital (Thanks JLCollins!) and to my surprise.. I'm already at 400k.

In the last few months I've boosted my savings rate from a meager 25-30% to 60-70 (The Jury is still out on how well i've dialed it in)

Has anyone else been this surprised when starting out?

MonkeyJenga

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Re: Savings Rate For 2015! [Poll]
« Reply #32 on: December 16, 2015, 07:31:33 PM »
I'm somewhere in the 70's. Viva Dinero!

Cookie78

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Re: Savings Rate For 2015! [Poll]
« Reply #33 on: December 16, 2015, 09:35:09 PM »
Started out in the 50s/60s, worked my way up in the last part of the year to the low 70s and one month of 80+. Average is currently hovering just above 69%.

MrDelane

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Re: Savings Rate For 2015! [Poll]
« Reply #34 on: December 16, 2015, 10:29:13 PM »
This is our first year of making a conscious effort in saving.  We've always been careful about our spending, but never were very intentional about our saving.  We always just saved whatever was left over at the end of the month.

I hadn't calculated our savings rate exactly until just now (thanks to this thread).  I'm incredibly happy and surprised that we've hit a savings rate of 78.8% so far this year.  We didn't really have a goal, we've just been trying to keep our spending as low as we're willing to go without hurting our 'quality of life.' 

Thanks to everyone on this site.  If it wasn't for this community I never would have hit that number (nor even thought to calculate it to find out).




MrDelane

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Re: Savings Rate For 2015! [Poll]
« Reply #35 on: December 16, 2015, 10:31:51 PM »
Has anyone else been this surprised when starting out?

You are definitely not alone.


Monkey Uncle

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Re: Savings Rate For 2015! [Poll]
« Reply #36 on: December 17, 2015, 04:33:31 AM »
Has anyone else been this surprised when starting out?

You are definitely not alone.

Yes, it's pretty amazing what you can do when you just start paying attention.  Our lifestyle didn't really change all that much, we just quit finding big-ticket items on which to spend our surplus (vacations, furniture, and major home improvement expenditures come to mind).  My gross income increased by about 15% over that time, which certainly helped, but the increase only accounts for about a third of the overall savings increase.

step_away

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Re: Savings Rate For 2015! [Poll]
« Reply #37 on: December 17, 2015, 05:31:06 AM »
91% on net of tax saving rate basis including employer contribution (61% on gross basis). 
« Last Edit: December 17, 2015, 05:36:07 AM by step_away »

dmbfan4life20

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Re: Savings Rate For 2015! [Poll]
« Reply #38 on: December 17, 2015, 08:52:14 AM »
Not counting home equity or any retirement savings or matching employer contributions.....

We hit 32% SR for 2015! This was the year we found MMM. Shooting for 50% for 2016

I need to do the math to factor in the above.

cschx

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Re: Savings Rate For 2015! [Poll]
« Reply #39 on: December 17, 2015, 04:27:28 PM »
In 2015, after discovering this site, I went from saving ~60% after tax to 82.6% before tax... on the same budget.

Maxed out 403(b), 457(b) and a tIRA by the end of November, with a 3 month handicap (started in April '15).

Total tax-deferred savings went from zero to $47.2k in 9 months.

I make less than $60k.

(Here's a current screenshot of contributions from my retirement account. It doesn't include the employer contribution for December or my IRA.)

v8rx7guy

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Re: Savings Rate For 2015! [Poll]
« Reply #40 on: December 17, 2015, 04:29:04 PM »
The results are a nicely distributed bell curve

Venturing

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Re: Savings Rate For 2015! [Poll]
« Reply #41 on: December 17, 2015, 04:39:05 PM »
I'd never calculated this before, 67%!! Pretty pleased with that, particularly since I'm a stay at home mum
« Last Edit: December 17, 2015, 04:41:41 PM by Venturing »

Nudelkopf

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Re: Savings Rate For 2015! [Poll]
« Reply #42 on: December 23, 2015, 01:49:18 AM »
62% - or there abouts.

I didn't include superannuation (retirement account) because I cbf to work it out, and I can't touch it 'til I'm a million years old.

johnny847

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Re: Savings Rate For 2015! [Poll]
« Reply #43 on: December 23, 2015, 04:51:12 AM »
The results are a nicely distributed bell curve

And only on these forums is it centered around 50-60%!

dreams_and_discoveries

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Re: Savings Rate For 2015! [Poll]
« Reply #44 on: December 23, 2015, 11:05:21 AM »
I've just edged into 61%, dead chuffed with myself and inspired to make 2016 even better!

There are definetly things to cut that I don't get that much joy from, and some indulgences to make more scarce so I enjoy them more.

ender

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Re: Savings Rate For 2015! [Poll]
« Reply #45 on: December 23, 2015, 11:12:10 AM »
We're on pace for just under 50% this year after-tax savings rate, but close to 60% if you include 401k match.

41% of gross without match, which is nice...

Kind of crazy since we live pretty luxuriously!

ozbeach

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Re: Savings Rate For 2015! [Poll]
« Reply #46 on: December 23, 2015, 02:32:20 PM »
62% - or there abouts.

I didn't include superannuation (retirement account) because I cbf to work it out, and I can't touch it 'til I'm a million years old.

76% for me. Likewise didn't include super because the maths is all too hard, although I maxed out pre-tax contribution because I'm obviously a lot closer to being a million years old than you!

Blindsquirrel

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Re: Savings Rate For 2015! [Poll]
« Reply #47 on: December 23, 2015, 05:57:30 PM »
 We saved/invested about 70% of our income. I would not be super impressed by that though.

Gerard

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Re: Savings Rate For 2015! [Poll]
« Reply #48 on: December 30, 2015, 02:56:29 PM »
I did the easiest possible calculation (increased net worth not counting appreciating assets or pension, as a percentage of take-home pay) and came out a smidge over 50% savings. A calculation based on gross income would probably motivate me to save more in tax-advantaged investments.

Mormon Money Mustache

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Re: Savings Rate For 2015! [Poll]
« Reply #49 on: December 31, 2015, 04:50:37 PM »
58% based on gross income. 63% or so MMM's way of calculating. I am very impressed that the highest response is in the 51-60% range. I don't know anyone in my circle of friends who is anywhere close to that. "Save 10-15% every year and you're good" is the most common thinking.