75% SR

[AllieVaulter]

whoa!  When people calculate savings rates is it typical to include mortgage principle and post-tax dollars? 

I thought I had a 40% savings rate.  But then I added my mortgage and I got to 60%.  And when I adjusted for post-tax dollars that puts me right around 75%!  That's crazy.  My income is pretty low, which is probably why the swing is so large, but still...  it seems weird.

To make this ontopic, I'll say that I'm ashamed that I haven't ever calculated my savings rate, and need to do that, ASAP.

But really, I'm commenting because OMG IS THAT AN AIREDALE I HAVE AN AIREDALE!!!!!!!!!  He's a money sink, but I'll be worth ~500K by 30 so I'm not too worried about it.

Important things first:  It's not an Airedale.  He's a Welsh Terrier.  They're basically miniature Airedales.  He's full grown at 20 pounds of crazy.  My husband grew up with Airedales, but we don't have the space for a mondo dog.  So we compromised and got this guy.  And we love him to pieces.  :)

Well, I think we closed out the year with a 70% savings rate.  A bit short, but DH hasn't landed a job yet so that's definitely slowed the stashing. 

[PhysicianOnFIRE]

Count me in.  Someone suggested 80% but I don't think we can swing that.  Family of 4.  They boys need food and piano lessons.

[zephyr911]

Count me in.  Someone suggested 80% but I don't think we can swing that.  Family of 4.  They boys need food and piano lessons.

Welcome!
I'm holding at 75% but I've got it easy... no kids, just dogs. ;)

[Cookie78]

I lost a tenant this month and there's no way I'm going to make 75% for January, but who knows, maybe I'll bounce back in the next few months. :)

[Bardo]

Great challenge.  Including mortgage principal I was at 71% last year so 75% should be in reach, but I'm planning some trips so it would really be a stretch target for me.

[2Birds1Stone]

Paid for an all inclusive 9 day trip to the Caribbean this month.....SR for January will be about 20-30%

Funny how that is low for the purpose of this thread.....yes so much higher than 99.99% of America

[3Mer]

I'm in.  If I include principal I'm at 75%.  Actually it will be a bit higher now as I just increased company stock purchase 1% for another challenge.

This will be a tight year, but worth it!

[BarbeRiche]

If any of you get employer contributions for pension or stock purchase plan, do you include that in the SR?

I started including the portion I put in the pension and stocks but not my employer contribution yet.

What do you guys think?

[tightwaddy]

EDIT:  I realized original formula was wacky--was trying to not count employer contributions as my own savings, but I actually ended up counting it against me.

I'll give this one a try, although I may need to figure out a better tracking system.  As a quick and dirty estimate for March, I did:

Income = Net pay
Savings = Mortgage principal + my 403 contribution + my HSA contribution

Result = 77%

Maybe I need to shoot for the 80%!

[2Birds1Stone]

YTD SR = 72.63%