NinjaPigeon - My Flight to Financial Independence

Sunday, March 19, 2006

Savings rate

It's a little early in the year still, so my numbers are skewed a bit for the better. Anyway, as of my last paycheck, here are my standings for 2006:

*Taxes as a % of gross income: 34.09%
Living expenses as a % of gross income: 30.45%
Savings as a % of gross income: 35.46%
Savings as a % of net income: 53.80%

*For some reason my company was taking about 4% too much for the first two months of the year. Also, I like to do contract jobs on the side that are 1099, and I put 40% of that income aside in an interest bearing account to cover any tax bills the next year.


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