Saving for the future: August 2017

By | September 10, 2017

Author: Mr and Mrs DDU.

We are big believers in living below our means; spending less than we earn. We try to only spend money on what is essential or makes us happy. Nearly everything society spends money on is fleeting: food, holidays, a movie ticket etc. Most of it is forgotten about by the next day and we look to the next thing to keep us entertained.

Every month we track our income and expenses to see how much we’ve saved/not spent. This helps us see how we’re going, as well as motivate us to continue saving. Hopefully over time, our savings rate will increase allowing us to invest even more.

We want to show that even on a modest income, it is possible to save hard, invest and become financially independent. We post any articles about our money savings choices or habits here.

August 2017 Savings Update

Dividend Income: $0

Regular Income: $7,233

Blog Income: $102.75

Total Income: $7,366

Expenses: $4,352

Savings Rate: $2,983

Savings Percentage: 40.7%

During August we invested a total of $2,640 of our savings into shares, which we will post about next.

Savings rate including Superannuation: 47.5%, this is the net amount after the superannuation contribution tax of 15%.

(We count superannuation savings when a payment is actually made, usually every 3 months).

Getting back over 40% is a good sign. The last six months is looking really good, particularly compared to a year ago:

August 2016 rate: 32.8%

August 2017 rate: 40.7%

Improvement: 7.9%

August 2016 savings: $1,594

August 2017 savings: $2,983

Improvement: $1,389

Income

Dividend Income – Nothing this month, sadly.

Regular Income – This is the after-tax figure if you’re wondering. It is the combined figure of both our incomes plus any bank interest we have received.

Blog Income – We count this payment when we receive a Google Adsense payment into the bank account. We received a payment this month, thanks for reading!

Expenses

Here we go, non-regular expenses that happened this month:

Car Registration – We identify annual expenses when they actually occur during the year, not on a monthly basis. We paid $800.80 for our annual car registration during August. We have to pay for this, or else we couldn’t drive our car! Without that we’d have had a savings rate of 51.6%.

Final thoughts

Another good month on the road to financial independence. We want to do as good as we can now that we have had our little one. A post about that is next!

Thanks for reading this article about our financial journey Down Under.

Onwards and upwards!

10 thoughts on “Saving for the future: August 2017

  1. Dividend Diplomats

    DDU –

    This is a great improvement from last year and it appears the $’s you are saving is drastically more. Let’s get you over the 50% hump in September, you can do it.

    -Lanny

    Reply
  2. Buy, Hold Long

    DDU – Can’t wait to see what you have bought next, we seem to have a nice habit of buying similar things. Well done and looking forward to your next post!

    Reply
  3. J @ Hey, It's Just Money!

    2017 is proving to be a solid year for you guys, congratulations! I’m so happy for you! That’s a really massive savings, I wish I was as determined as you when I was your age. Also, welcome to the world, Baby DDU! I can’t wait for the next post!

    Reply
  4. wealth from thirty

    Very nice progress Mr & Mrs DDU. Stoked for you if baby DDU has arrived into the world and keen to read about your share purchases this month! I bought a stock this week that I never thought I’d buy, but I think I’ll hold off posting about that for a while.

    Reply
  5. pia

    wow wee!! Look at that improvement compared to last August. You guys are blasting goals. Super excited about the next post – yay baby DDU!

    Reply
  6. Mrs. ETT

    Gosh golly, you slipped that one in at the end! Congratulations, hope everyone is doing well. Don’t forget that this is the most important thing right now, and the dividends can look after themselves for a while, if need be 🤗

    Reply

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