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End of fiscal year

July 15th, 2018 at 07:26 am

Our household fiscal year begins and ends on June 30th of each year. Both my husband and I work for school districts. I just calculated our rate of savings and retirement account funding and I am please to say that we lived on 40% of our total income (including rental property revenue). The forty percent includes mortgage, utilities, groceries insurance policies and a few small luxuries. I for see a drop in savings from here on since 1) my husband is earning less, 2) we will be paying on retirement home come November 3) we will spending a considerable amount of money in airfare in the coming years.As the CFO of our home, I will try to save at least 45% of our net income in the coming years. All in all, I think we are doing a good job at managing our finances.

3 Responses to “End of fiscal year”

  1. rob62521 Says:

    That is terrific that you lived on 40% of your income. What diligence!

  2. CB in the City Says:

    Wow, that's impressive!

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