Percentage Of Income Saved In August 2021 – 36%

Percentage of income saved in August 2021 (36%) — Chronicling how much money was saved from blogging, dividend investing, and my part-time job. This post may contain affiliate links.

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I started tracking my savings rate in June of this year.

My goal was simple — to motivate myself to save more money.

Fortunately, for the past three months now, I have achieved my goal to save more money. I increased my savings rate each month since beginning to track it.

Since I’ve received a lot of positive feedback on my savings report, I am planning to continue documenting my savings rate, at least until the end of the year.

My goal is to increase my percentage of income saved each month and motivate others to save more money.

In this post, I will reveal my percentage of income saved in August 2021 and discuss which income streams paid me.

Let’s get started.

Percentage Of Income Saved In August 2021 — 36%

I saved 36% of my net income in August 2021. I achieved this savings rate simply by paying myself first when I got paid.

Although I would’ve liked to have cracked 40%, I am satisfied with my savings results because it is still a 2% increase over the previous month.

Looking forward, I’m expecting a breakout month to happen in September 2021. I’m expecting to save a lot.

Income Sources In August 2021

My income sources remained the same in August 2021.

I still have three main income sources: my job, dividend investing, and blogging.

I factored all three of these income sources into my percentage of income saved in August 2021.

Of course, the majority of my savings comes from my job. But my other income streams are making progress.

I earned $51.92 from dividend investing and over $200 from blogging in August 2021. All dividends were reinvested, and 10% of blog income was invested.

Long term, I’m aiming to generate the bulk of my income from dividend investing.

Looking Forward To September 2021

Considering that I have increased my savings rate by an average of 2% per month over the last few months, it’s likely that my savings rate in September should increase to 38%.

However, I am expecting a much higher increase than that.

Due to the fact that I have no major plans during the month, and also because it’s a month with three paydays, I expect September 2021 to be a huge month for savings. 

To put it bluntly, saving anything less than 50% would be a major disappointment. 

Ideally, I want to save 60% to 70% of my income in September 2021.

Percentage Of Income Saved In August 2021 — 36%

In summary, I saved 36% of my income in August 2021.

This was a 2% increase compared to my savings rate in July.

The three income sources that paid me during the month were my part-time job, dividend income, and blog income.

Although I increased my percentage of income saved in August 2021, I am planning to increase my savings rate significantly in September. 

Ideally, I want to save a minimum of 50% of my income. 

What was your percentage of income saved in August 2021? Do you track your savings rate?

I’d love to hear how much you saved in the comments below.

Other Personal Finance Posts To Check Out

Percentage of Income Saved in July 2021 — 34%

Percentage of Income Saved in June 2021 — 32%

What Percent Of Your Income Should Go To Retirement Savings?

Money Savings Challenge: 9 Fun And Easy Challenges To Save More Money

Pay Yourself First: How To Pay Yourself First

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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