Percentage Of Income Saved In October 2021 — 39%

Percentage of income saved in October 2021 (39%) — Chronicling how much money was saved from blogging, dividend investing, and my part-time job. 

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I began tracking my savings rate in June 2021 to motivate myself to save more money.

That led to increasing my savings rate for four months in a row.

Although I was not able to increase my savings rate for a fifth month in a row, I am still satisfied with how much I saved last month.

In this post, I will tell you my percentage of income saved in October 2021 and overview what income streams paid.

Let’s dive in.

Percentage Of Income Saved In October 2021 — 39%

I saved 39% of my net income in October 2021.

This was 11% lower compared to September 2021.

In terms of dollars, I saved $1,738.48 during the month. Now you have an idea of how much I make per month.

In truth, I could have pushed myself to save 50% again. However, I am aiming for a more balanced approach to managing my personal finances going forward. 

One of the main reasons I saved less was to start saving for my Christmas budget. 

After having a better than expected year for savings, I am planning to reward myself by spending more this holiday season. 

At the same same, I still plan on saving $1,500 to $2,000 per month of my personal income.

For the record, this does not include my household income. My partner and I manage our finances separately.

Income Sources in October 2021

My income sources remained the same during the month.

I got paid from jobbing, dividend investing, and blogging.

In case you missed the dividend income report for October 2021, I earned $77.82 from dividend investing during the month. 100% of this was reinvested back into stocks.

As for blogging, I earned $183.16. Only 10% of this income was saved.

Otherwise, the rest of this month’s income was from jobbing.

Looking Forward To November 2021

On average, I saved 39% of my income over the past 5 months.

So, my October savings were right on the average.

Looking forward to November, I expect my savings rate to stay in the same vicinity.

I am still planning to put aside some money for the upcoming Christmas holidays. 

And I am also putting aside money for a new laptop, which I do not include as part of my savings rate, because that’s money I plan to spend.

Overall, my goal is to save at least 35% in November 2021.

Percentage Of Income Saved In October 2021 — Final Thoughts

In summary, I saved 39% or $1,738.48 of my net income in October 2021.

I was able to accomplish this by simply paying myself first when I got paid.

Of course, it would be easy to spend this money on a car payment, brand name clothing, or even a whole other condo — my rent is $1,650 per month. 

Instead, I used my income to further my independence by saving and investing it.

If I can continue to save around 40% of my income, I like my chances to reach financial independence over the next 10 to 15 years.

How much did you save in October 2021? What was your savings rate? Let me know if the comments below.

Related Personal Finance Posts

Percentage Of Income Saved In September 2021 – 50.42%

Percentage Of Income Saved In August 2021 – 36%

What Percentage Of Your Income Should Go To Retirement Savings?

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