Summary:

  • This is the savings report of July 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.
Savings July 2019

July was a great month for my savings with a fantastic end result!

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 a good June, I was able to extend the good results. You can read my June savings report here 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.

The Numbers

July was a good month in terms of net income but slightly lower than June (-3,49% MoM). July marked the third-highest income of 2019 so far. Up 9,09% against the 2019 average just for reference.

I do not have a fixed income like most people and I can easily have 10 to 15% fluctuations month-over-month.

Time to get all numbers in. Let’s see my 2019 saving results so far:

  • January: 1500€
  • February: 2690€
  • March: 7350€
  • April: 3810€
  • May: 1100€
  • June: 4300€

And finally July with 5000€…the second-best month of the year!

Savings Report July 2019

So as we can see July is well above the average line…

I still have 5 months to go but the results so far look promising. My average saved amount in the first 7 months of 2019 is now standing at 3678,57€. 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.

THE REVIEW

While I still had car maintenance to pay, it was possible to not overspend in other things. In July I had a small trip to Switzerland, which might have an impact on my August’s savings.

Almost the entire amount was invested in the Stock Market and some allocated to a Savings account. While Mr. Market keeps climbing, it will eventually correct when the big money starts to take profits. If you are curious about my asset allocation, please go here.

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.