- This is the savings report of April 2019.
- Every month I write a savings report with the total amount saved.
- The amount I consider “saved” is the one that flows out of my checking account.
- Capital is allocated to the 5 different baskets mentioned on my Portfolio.
April was a rather good month for my savings!
I have been writing about how much I am saving each month and I intend to keep on doing it. It does help me to evaluate myself and it keeps me motivated. Hopefully, it will also help others to commit to their financial journey.
After an outstanding March, April had an impossible challenge to beat last month performance. You can read my April report below if you missed it:
While saving has a very symbiotic relationship with our income, how we manage our money plays the biggest role.
“If we command our wealth, we shall be rich and free. If our wealth commands us, we are poor indeed.”Edmund burke
I already discussed the importance of limiting our expenses in order to improve our savings rate and therefore, pave the way to financial independence. You can read here about how I manage to save more than 40% of income by doing 3 key things.
April was not a good month in terms of income and it marked my lowest month of 2019 (-1,49% MoM if I exclude the bonus). April was also down 10,79% against the 2019 average income just for reference.
Time to get all numbers in. Let’s see my 2019 saving results so far:
- January: 1500€
- February: 2690€
- March: 7350€
And finally April with 3810€…the second best month of the year!
After an outstanding March, April still managed to be a very good month in terms of savings. April was a very busy month which avoided extra expenses such as traveling or dining. Also, I did not have anything significant pending from the previous month on my credit cards.
My average saved amount in the first 4 months of 2019 is now standing at 3837,50€. It means my goal of saving at least 4000€ per month is almost there.
Having realistic goals is always better than just “dream goals”. Easier to achieve and to improve.
While being busy might have a rather negative connotation, it sure helped to keep my expenses low. Also I had no pending credit card expenses with helped even more. I do use credit cards for online shopping and only keep expenses for one month not paying any interest as I explain here.
As for the 4000€ goal, is true that I’m almost there but only 4 months have passed. There are still 8 months to go and what will really tell me, if I made it, is the last day of the year.
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…”
From 2019, I started to seriously track all my financials. By seriously I mean I make it a monthly ritual. Yes, it does takes time to compile everything 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.