Time for another budget analysis. Let’s see how things went for November 2020.
|Full-Time & Side Jobs||$8,379|
|401K / HSA Contributions||$460|
I didn’t have any expenses out of the norm. I did help my parents with some stuff. Overall, with no travel and eating out, the costs were minimal.
My goal is a savings rate of 70 % every month, which is usually hard to hit. I don’t factor into all income taxes, which makes this saving rate somewhat less meaningful. Anyway, it feels nice to have a specific target number.
To calculate the savings rate, I take all my expenses to divide that by take-home income + 401k & HSA Investment.
I didn’t meet my goal of 70%, but 68.55% is pretty dang good, considering that I traveled a bunch and had some medical expenses. I am delighted with October’s savings rate.
Happy budgeting and keep track of every dollar!