EOM April 2013

The weather is finally turning, there isn’t even the tiniest patch of snow on the ground, and flowers are beginning to bloom!  It even reached 70 degrees F this week!  The Green Pilgrim took advantage of this wonderful weather to bike to work for the first time all year.  It is only a 5 mile ride, and with the right gear I could really do the bike commute year-round, rain or shine.  Fie my laziness!  I hope to bicycle to work more regularly this year than ever before, and to show off how much I save on gas and other auto-related expenses in future posts.

But now to look back on the past.  My all-important Savings Rate for April was 75%!  Please excuse me while I pat myself on the back.  With my after-tax earnings this month, I could fully fund 3 months of retirement.  My yearly Savings Rate so far for 2013 is 65%, slightly below my 2012 rate of 67%.  We’re still seeing the effects of my significant but worthy purchases of a vacation and an engagement ring, both of which I consider investments that will return priceless experiences and memories.  Next month I hope to bring my running savings rate for 2013 back above my rate for 2012.  I think my goal for 2013 of 85% was a bit lofty, and 75% is looking like a more reasonable goal now.  I will continue to benchmark my progress against my original goal though, to keep the fire lit beneath me.

Savings Rate April 2013

Areas where I saved this month include:

  • Gaming!  Spent only $10 on a 40-day MMORPG subscription.  I plan on renting the new Tomb Raider game instead of buying it sometime this month and saving that way while continuing to enjoy my favorite hobby.  I’ve also been enjoying many free board games with good company recently.
  • Cell Phone!  Spent $10 for a month of service.  I love this new prepaid plan.
  • Entertainment!  Spent only $22 on my Netflix subscription and 2 games of bowling.

Areas to watch:

  • Alcohol, $53.  Less than my monthly average across 2012, but still can do better.
  • Groceries, $140.  My average monthly expenditure on groceries is $126.
  • Gasoline, $80.  My average monthly gas expense is $62.  I can lower this (and be healthier!) by biking more.

One last thing I want to share this month is my favorite graph.  I stripped the $$ y-axis labels, but you’ll still understand why this graph is so cool to me.

FavGraph May2013

You can see where I paid off all of my student loans and car loan in September 2012, because my savings have really ramped up since then.  I’ve also explored using tax leveraged accounts like my Roth IRA and Roth 401k to invest my savings.  What a ride it has been!

Anyway, thanks for following along with me on my path to early retirement.  Here’s to saving 75% or more of my after-tax earnings next month also!  Cheers

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