Thriftism

Happy New Year! We missed last month, but we are back will the final update on our 2018 goals. Some have fallen short and some have surpassed expectations.  How did you do on your 2018 goals? Financial Goals Gain Employment (Race) ☑ Done - Race started working in February. Save 50% of our income ☑ We rocked this goal. It did bounce around quite a bit throughout the year, but we finished much higher than we planned with a total savings rate of 84% for the year! We focused the most on this goal to set us up financially to be better prepared for future years and to focus on our other goals as well.  Increase passive dividend income by 25% We didn't quite make this one. As of December 31, we increased our dividends by 23%. This wasn't quite where we wanted it to be, but still a substantial increase. The main culprit behind us missing this number was due to diverting investment savings contributions towards paying down the mortga...

Happy November! We missed last month, but we are back will another update on our 2018 goals. Some are falling short and some have surpassed expectations.  How are your goals coming along? Financial Goals Gain Employment (Race) ☑ Done - Race started working in February. Save 50% of our income ☑ We are back on track with this goal. While April was a rough month and we were a bit low in June, we definitely made up for those months in July. We actually saved over 100% of our income (carry over from June). Both September and October were great savings months. This brings our annual total savings to 85% - much higher than the 50% we were aiming for. I am not posting both with and without mortgage anymore as the extra payments on the mortgage are increasing our net worth and should therefor count as savings. We are also planning on paying off the mortgage this year and will then start putting money back into our regular savings.   Increa...

Happy September. We are back will another update on our 2018 goals. Some are falling short and some have surpassed expectations.  How are your goals coming along? Financial Goals Gain Employment (Race) ☑ Done - Race started working in February. Save 50% of our income We are back on track with this goal. While April was a rough month and we were a bit low in June, we definitely made up for those months in July. We actually saved over 100% of our income (carry over from June). August was another good month with 80% of income saved. This brings our annual total savings to 78% - much higher than the 50% we were aiming for. I am not posting both with and without mortgage anymore as the extra payments on the mortgage are increasing our net worth and should therefor count as savings. We are also planning on paying off the mortgage this year and will then start putting money back into our regular savings.   Increase passive dividend income by ...

Fall is quickly approaching and we are still tracking our goals.  How are your goals coming along? Financial Goals Gain Employment (Race) ☑ Done - Race started working in February. Save 50% of our income We are back on track with this goal. While April was a rough month and we were a bit low in June, we definitely made up for those months in July. We actually saved over 100% of our income (carry over from June). I am not posting both with and without mortgage anymore as the extra payments on the mortgage are increasing our net worth and should therefor count as savings. We are also planning on paying off the mortgage this year and will then start putting money back into our regular savings.   Increase passive dividend income by 25% We are on track for 20% increase this year - slightly below our goal. It fell due to a few dividend cuts, but the main culprit is that we haven't been contributing to dividend earning stocks as we push to pay off...