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Savings Percentage

October 10th, 2006 at 06:44 pm

I just added to the 'what percentage do you save' thread and it was really helpful and encouraging for me.

My current breakdown is at the end of this post, but the reason it was so helpful is because I can currently save/apply 25% of my net without changing anything I currently spend.

This is a huge revelation for me. I have a big pad built into mine and DH's allowance each month, our grocery bill is estimated way more than it could be, and the cable bill could be trashed altogether. Assuming we cut the allowances and grocery bill in half if necessary and got rid of the cable, that would be an extra 20% that could be applied elsewhere if we had to.

Cool... I am starting to feel much better about my 'almost budget'

* * * * * * * * * * * *
NECESSITIES, HAVE TO LIVE
SOMEWHERE, NEED CAR TO WORK
* * * * * * * * * * * *
11.90% mortgage
7.14% car
19.05%
* * * * * * * * * * * *
THERE'S A LOT OF FLEXIBILITY
HERE
* * * * * * * * * * * *
11.90% d allow
9.52% t allow
9.52% groceries
30.95%
* * * * * * * * * * * *
PAST DEBT IF ONLY PAYING
THE MINS
* * * * * * * * * * * *
1.19% student loan
1.43% honda card
2.86% inlaws
0.71% hospital
0.48% cc1
0.48% cc2
7.14%
* * * * * * * * * * * *
MONTHLY NON DEBT BILLS
* * * * * * * * * * * *
1.79% ins -c
4.17% cable
1.19% cell
3.57% elec
10.71%
* * * * * * * * * * * *
NON-MONTHLY BILLS AND
HOLIDAY SAVINGS
* * * * * * * * * * * *
0.60% water
2.38% prop tx - h
1.31% ins -h
0.48% prop tx - c
2.38% xmas
7.14%
* * * * * * * * * * * *
TOTAL NEW INCOME ALREADY
ALLOCATED
* * * * * * * * * * * *
75.00%

8 Responses to “Savings Percentage”

  1. Lau Says:
    1160504667

    11.90% mortgage ??? I have to ask how you did/do that...
    I'm also curious about the 2.86% inlaws
    Otherwise, congratulations... 25% saving is just great. I wish I could do that. I'm sticking with 10% for now.

  2. Ima saver Says:
    1160506549

    That is good, I have never been able to save 25%

  3. JanH Says:
    1160506731

    The last time I saved 25% was almost 30 years ago in college! Wow.

  4. tinapbeana Says:
    1160513548

    bear in mind the ability to save 25% is if we don't put any extra towards debt. starting in january i plan on splitting it between the two...

    as for the mortgage, i live in upstate SC which has, for here, mid-range housing prices, but dirt cheap compared to everywhere else. our 'new to us' house is 1700 sf 3BR 2BA 2 story on .2 acre about 1.25 miles from downtown. it appraised for 75k b/c needed some landscaping & oven, we bought for 63k.

    "2.86% inlaws" is b/c my DH consolidated all his debt from his previous marriage onto 1 of his parents 0% CCs (they offered & he needed the help). so, this is debt i inherited when we got married, and every month we send the inlaws money for that CC. bad enough I'm paying my own =/

  5. PRICEPLUS Says:
    1160516202

    WOW!!! YOu are thoroughly organized. I wish I were that organized. Keep up the good work!Smile

  6. tinapbeana Says:
    1160516961

    not really that organized, just good at typing really fast in excel!!! i had dollar amounts set up for everything but had never actually checked what percent was going to what, so i let excel do the work for me. glad to share the sheet if anyone needs it.

  7. Lau Says:
    1160579458

    Good for you about the house... I wish prices were that low in eastern MA. The inlaw debt just sucks! How far are you from paying that off?

  8. tinapbeana Says:
    1160582477

    Lau:

    Yeah, other than car and house the inlaws are our biggest debt at about 9k... GAAAAAAAAAAAHHHHHHHHH!! =P Good news is that MIL is *very* frugal herself and always moves the balance to a 0% card

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