Percentage Of Income Saved In September 2021 — 50.42%

Percentage of income saved in September 2021 (50%) — 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 to motivate myself to save more money.

Now that I have four months of experience with tracking my savings rate, it’s clear that this strategy works. 

I’ve increased my savings rate for four months in a row.

However, it will be extremely challenging to continue to increase my savings rate from here on out. 

September turned out to be an exceptional month for saving money this year.

In this post, I will reveal my percentage of income saved in September 2021 and discuss which income streams contributed. 

Let’s dive in.

Percentage Of Income Saved In September 2021 — 50.42%

I saved 50.42% of my net income in September 2021. 

This is up by 14% compared to August 2021.

However, there is a good reason for the jump — I had three paydays during the month.

So, I am slightly disappointed, to tell you the truth. 

I had hoped to finish higher after having such a strong start. I started off the month saving over 60% of my income, and I saved over 70% on my second payday. But then I had to cover most of the month’s expenses with the third pay.

Overall, though, it was a really solid month for savings. 

My savings rate increased for the fourth month in a row, as shown below.

Income Sources In September 2021

My income sources haven’t changed since last month.

I make money from my job, blogging, and dividend investing. Those are the three income streams I save money from.

At this point, the large majority of my income is from my job. But my other two income streams are making significant progress.

I earned over $100 each from blogging and dividend investing in September 2021. 

Otherwise, the rest of this month’s savings was from my job, and it was a significant amount this month. I briefly eluded to how much I saved in my dividend income update if you care to know.

Looking Forward To October

Unfortunately, I do not expect that my savings rate will continue to rise from here.

I got lucky because three paydays just so happened to occur during the same month. 

So, I do not expect to save over 50% in October.

However, I do expect to save above 30% again. 

As of right now, my budget goal is to start the month strong. My plan is to save 60% of my net income. But it’s the second payday of the month that will hold me back. 

Ideally, I want to save somewhere between 35% to 40% in October 2021.

Percentage Of Income Saved In September 2021 — 50.42%

In summary, my percentage of income saved in September 2021 was 50.42% of my net income.

In other words, I saved more than half of my income during the month. 

This is the kind of savings rate I must maintain to reach financial independence. 

The extra savings provided a lot of extra capital for investing. 

Although I could have saved a little more if I was willing to squeeze my lifestyle, I believe I have struck a good balance between saving and enjoying life. 

I spent a lot on food during the month, and I also bought a new TV stand.

But through keeping my spending lean and basically having no payments besides food and shelter, it’s possible to save a lot and spend a little at the same time.

How was your month for saving money? What percentage of income did you save during the month? 

Let me know your thoughts on savings rates in the comments below.

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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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