Savings Rate

(Updated: 03.05.2015) I started tracking my income and expenses in the beginning on 2014. However as I almost always use debit card I tracked my earnings and spendings back to the beginning of 2013. The following graph shows my long term savings rate. I am not using monthly savings rate as I can fluctuate month to month due to some bigger expenses and irregular income.

The following table shows a summary of my long term savings rate on different periods.

Period Savings rate
2013 68.96%
2014 44.20%
2015 69.80%
Total 57.79%

Savings rate can be calculated as follows:
Savings Rate = (Income-Expenses)/Income

At the moment I try to have savings rate at least 50% as this means that every year I save at least 1 year of expenses. If you wonder if my savings rate for 2014 is under 50%, in the spring of 2014 I bought an apartment and had to put some money for a down payment and there were also other expenses and taxes included.

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