The amounts below are cash amounts and are net of taxes, insurance, 401k contributions, HSA, etc. In other words, the amounts are what get deposited and withdrawn from my accounts.
Day job (take home pay) --- $12911.59
Dividends/Interest --- $2024.95
Total net income --- $14936.54
Expenses --- $2986.81
Savings $11949.73 --- Rate 80.00% Savings/day job income --- 92.55%
Historically March is a better month than February, but this month I made less income from my day job. The good news is my passive income came in really strong. Expenses were better than expected and came in under $3,000 for the first time this year. This allowed my overall savings rate to reach a new high for the year at 80%. Not much to complain about here.
My passive income covered 67.8% of my total expenses. Needless to say this was really cool. I truly believe if I did not have my day job, I could have covered 100% of my expenses with just passive income. It is amazing how much money is spent for the privilege of going to work each day.
March was also one of the few months I can remember in which I truly had no outlier expenses. Food was normal, we dined out a few times, auto expenses were minimal, and work related lunches came in under $200 so I am certainly pleased with the results.
For the first time in my life after
Going forward, I think 65% will probably be the norm as I have several home improvement projects on the horizon. I also plan on at least one vacation that could be a budget buster. We'll see.
Looking ahead to this month's expenses, the elephant in the room will be taxes. I have already sent a $6,200 check the U S Treasury which is more than double all of March's expenses. Technically this is a 2014 tax expense, but it affects my bank account right now. Hopefully the rest of the month is as calm and uneventful as March.
I also look forward to receiving my first ever Adsense deposit. I am sitting on about $95 earned for the year so I should hit the $100 mark and I believe this will trigger a deposit for next month.
YTD Savings Rates
Jan --- 46.72%
Feb --- 67.78%
Mar --- 80.00%