Tuesday, February 2, 2016

Freedom Check - January 2016

At the end/beginning of every month, I will update the status of my freedom fund as a way to stay accountable to you and myself. Assuming everything else remains constant, the freedom fund is based on the number of months that I am able to sustain myself without income.

Freedom Check - January 2016

Income = 100%

Accommodation: 16%
Food: 19%
Transportation: 1%
Household: 1%
Entertainment: 0%
Cell Phone: 1%
Travel: 10%
Income Tax: 0%
Personal: 0%
Shopping: 5%
Family: 3%
Others: 11%

Contribution to Freedom Fund = 32%

Average Savings Rate (2016) = 32%

Value of freedom: 29 months

Commentary: January flew by...but the Mrs. has a new job and this means that we're able to pound on the freedom fund even more. The chart illustrates this rather clearly - with income rising and expenses being moderately controlled.

This year, the mission is to hit an average savings rate of 50% and I have a strong feeling that it is highly possible. The only reason why we're not hitting this number in January is because of some travel plans that we made with the family. Priorities.

It has been a long way since I started to take control of my finances.

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