Savings Rate
Invest >50% of monthly income.
Month |
Savings Rate |
January |
31.02% |
February |
39.09% |
March |
54.55% |
April |
54.54% |
May |
62.97% |
June |
50.00% |
APR: Good SWR for the month. Received my IHS refund £300 (invested stat), another £300 in the next 3 months. Decent overtime for the month, will probably slow down next month. I am yet to catch up at least 20% on my savings rate so let's see how my promotion helps out.
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MAR: Back to >50% savings rate. Although, I am still catching up with my SR misses for the last two months. I also had a promotion at work (senior position). This will bump my income to at least £300 but I don't know yet if I'll have higher hourly pay on my OT's. Let's see.
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FEB: Finally secured my ILR fund without touching my investments, just non-stop agency shifts since January for a total of £2492.97 extra income (to date) plus £200 to settle Friday next week. Funny that I made a gamble investing this fund in 2019 and it turned out fine. That decision was actually driven by the reality that the NHS will never run out of extra shifts. After this, I could finally catch up with my monthly 50% SR goal and more. This will be my largest expenditure for the next 3 years and I could finally have a bit of freedom to navigate more job opportunities with better salary yield. This train is gaining momentum and fast, powered by the FIRE community.
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JAN: My total (after-tax) income for January was £3223.88. However, I did not invest my overtime income (hence the SR) because I used it to wipe-out my brother's tuition fee, which is one of my goals this year. Additionally, I needed at least £2,600 for my ILR visa due this coming March which I'll try to pay for using only extra shifts income. I must point out that I have saved for this expense since 2019 and is currently sitting on my Vanguard account, I'll try not to sell my shares just for this. I may extend my application to April if need be. I think I can do it.
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MAR: Back to >50% savings rate. Although, I am still catching up with my SR misses for the last two months. I also had a promotion at work (senior position). This will bump my income to at least £300 but I don't know yet if I'll have higher hourly pay on my OT's. Let's see.
-----
FEB: Finally secured my ILR fund without touching my investments, just non-stop agency shifts since January for a total of £2492.97 extra income (to date) plus £200 to settle Friday next week. Funny that I made a gamble investing this fund in 2019 and it turned out fine. That decision was actually driven by the reality that the NHS will never run out of extra shifts. After this, I could finally catch up with my monthly 50% SR goal and more. This will be my largest expenditure for the next 3 years and I could finally have a bit of freedom to navigate more job opportunities with better salary yield. This train is gaining momentum and fast, powered by the FIRE community.
-----
JAN: My total (after-tax) income for January was £3223.88. However, I did not invest my overtime income (hence the SR) because I used it to wipe-out my brother's tuition fee, which is one of my goals this year. Additionally, I needed at least £2,600 for my ILR visa due this coming March which I'll try to pay for using only extra shifts income. I must point out that I have saved for this expense since 2019 and is currently sitting on my Vanguard account, I'll try not to sell my shares just for this. I may extend my application to April if need be. I think I can do it.
