Savings rate report March 2022 — Chronicling my percentage of income saved from working, dividend investing, and blogging. I saved 22.74% in March 2022. I am not a licensed investment advisor and this post is not investment advice.
At the end of the day, your savings rate is the most important factor in determining how fast you will reach financial independence.
It’s more important than investment returns, how much you make, or how many income streams you have.
As such, I decided to bring back my monthly savings rate report to track the rate and motivate myself to save more.
In this post, I will tell you what percentage of my income I saved in March 2022 from working, dividend investing, and blogging.
Let’s dive in.
Savings Rate Report March 2022 — 22.74%
I saved 22.74% of my net income in March 2022.
Frankly, this savings rate is OK but nothing to brag about.
Ideally, I should be saving at least 50% of my income in order to reach financial independence as soon as possible.
In truth, there was a good reason for why my savings rate was lower — I moved. So I had to incur a few more expenses than usual.
Income Sources In March 2022
I saved money from three income streams in March 2022: working at my job, dividend investing, and blogging.
The bulk of my savings is still generated from my job, which I am grateful to have. I’m lucky to have have a flexible job that pays well. Also, it’s not the type of job where I have to take work home with me.
On the investing side, I saved 100% of the $125.82 I earned from dividend investing in March 2022. This was a new record for dividend income earned in one month. I already reinvested these funds back into more dividend stocks.
Related: Dividend Income March 2022 — Record Month
Otherwise, I saved 10% of my blog income in March 2022. This is a standard rate that I save from blogging. The rest of the income is used to pay for web hosting and marketing.
Looking Forward To April 2022
I am hoping to substantially increase my savings rate now that my life is back to normal.
Ideally, I am hoping to save more than 50% of my net income in April 2022.
My savings will be used to fund investment purchases and to eventually purchase a property.
Savings Rate Report March 2022 — 22.74%
In summary, I saved 22.74% of my net income in March 2022.
I view this as a satisfactory savings rate. However, it’s not a high enough savings rate to reach financial independence within 10 to 15 years.
By tracking my monthly savings rate, I am hoping to improve and get closer to saving 50% per month.
Other Personal Finance Articles To Check Out
Percentage Of Income Saved In September 2021 — 50.42%
Dividend Income March 2022 — Record Month
What Percentage Of Your Income Should Go To Retirement Savings?
Blog Income Report 2021 (Full Year Report) — How I Made $1,131.73 From Blogging
I am not a licensed investment or tax adviser. All opinions are my own. This post may contain advertisements by Monumetric. This post may also contain internal links, affiliate links to BizBudding, Amazon, Bluehost, and Questrade, links to trusted external sites, and links to RTC social media accounts.
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Email: graham@reversethecrush.com
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