Monday, 13 January 2020

The Homestead Fund Update (2019 Review Edition)


Okay, so it is that time again, when I update how my progress is going on my “Grand Savings Plan!” (to build my “Homestead Fund”).

This time we will be looking at 2019 as a whole. How? Well, I added a new tab to my Pay Period Budgeter.

This one takes the information from all of the individual budgets and compiles it on one large sheet.

This way I can see how I did in one year overall rather than just each individual payday budget.

I can ask the ultimate question (with regards to this budget) that is: How much of my Take Home Pay went into my savings accounts, this year, and stayed there?

Okay, so let’s see how I did . . .
   

For review, here is how things looked from last year (2018)
  
 (Data not available)

(Okay technically the data is available but, I’d have to manually compile it, and I don’t feel like doing it right now.)

That is X% (of my Savings Target).

And this is how things look like, after the dust settled on last year’s budget . . .
   57.34%

That’s right I put 57.37% of my Take Home Pay into Savings.

That means that 42.63% if of my Take Home Pay was spent and did not go into savings.

I bought a few things and what have you but that number is not where I wanted to be. My Debts & Expenses were double what my target is (20%).

This is where real life and real numbers can and will deviate from what you intended and what you budgeted.

Do not get discouraged, I tend to focus on the fact that if I hadn’t budgeted and had a focus on savings, I would have spent a whole lot more than 42.63% of my Take Home Pay, I can tell you that.

I will use this tab to see how I am doing as the year goes, so as to try to keep myself closer to that 80% target (80% of my Take Home Pay going into my savings and staying there).

As always: Keep your head up, your attitude positive, and keep moving forward!

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