Savings Report – July – First One!

This is a Savings Ninja savings report. Go to How To Track Your Savings to check out the Saving Ninja Super Spreadsheet. Please note that I split my expenses equally with my partner and the savings rate, house equity and house value represent my share only. The spreadsheet calculates my savings rate based off £12,000 worth of expenses per year, even though my expenses are actually Less Than 10k Per Year. This is to create a buffer; I’m aiming for at least 12k to reach financial independence.


My first savings report! I’m hoping to do these once a month. These savings reports were actually the whole reason for me creating Saving Ninja; I wanted to document my progress and have something to motivate me to save. I’d also love to look back at my journey down the line and have something to remind me of how it went!

My investments (which are currently all in 100% equity world index funds) have done pretty well this past month. They grew by £576 combined! This is quite exciting for me as my pots haven’t been very big for long, so now that they’re both over 10k I’m thinking that 2019 is going to be a lot more exciting with regards to interest gains.

This is the first month in which my savings has gone over £50,000! That’s quite an awesome goal reached. Although I’d love to get to that figure excluding my house equity (which are almost at the £25,000 checkpoint!). I’m going to get the house re-evaluated at the beginning of next year as I’m currently in the process of installing a new kitchen so hopefully this will boost my

I contributed £1000 into my ISA and thanks to my employers 13% match, £1800 into my pension. I’ve actually raised my pension contributions, so next month, we should see a £2500 pension contribution going in. That would bring me to £30,000 pension contributions per year, so very close to that £40,000 limit! I’m hoping that with my end of year bonus I’ll be able to hit it. I will be sticking with £1000 per month in my ISA for now. I really would like to make hay whilst the sun shines with the generous tax relief the government is giving and I’m nowhere near the lifetime allowance yet. I may look to offload some more money into my ISA at the end of the tax year if my emergency pot has grown too large.

My savings rate is sitting nicely at 75%. This figure should actually be a little higher due to my expenses actually being under 10k rather than the 12k which I’ve input into the excel sheet. I’m also not putting all of my income into investments as I’ve been trying to re-fill my emergency savings a little due to the recent kitchen renovation. With the pension contribution change next month we should see this go up to around 78%. The higher the savings rate is the harder it is to get the percentage up! I think I’m addicted! :-]

My expected FI date is sitting at 5.8 years after inputting this months savings. I’d really like to see this coming down to under 5 years within the next few months. I’ll be posting about my investment approach soon so stay tuned for that. If you want access to this spreadsheet, go and read this post. I’ll be keeping the excel sheet updated each month if you want to follow along and interact with it. The spreadsheet features a ‘years to FI’ button, I’ve got a lot more features and graphs that I want to implement into the it, I’ll keep you guys posted!

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7 thoughts on “Savings Report – July – First One!

  1. Hi there

    Only just stumbled across your blog (which looks great) so will be doing some catch up reading, in particular your ‘how to live off 10k per year’ post as TheFIREStarter’s version is one of my favourites! It’s great to see another UK FI blog.

    That’s an awesome savings rate you’re achieving – my expenses are around the £14k mark, but there’s still fat to trim off that if I wanted. All the best with your journey to reach FI – your date is close to mine, which waivers between 2024 and 2025.

    1. Hi Weenie,

      Thanks for coming by! I must have seen your blog somewhere as I seem to have subconsciously made it part of my slogan! I’ve bookmarked your blog and I’ll definitely have to have a nosy – although if I tried to catch-up I’d probably have to pull a sickie off work for a week! You’ve been blogging for a long time – I really hope I can keep going for even a fraction of the time you and TFS have. Do you have any must-reads/top posts for your blog?

      By the way, I love that you’ve got a Goodreads widget! It’s funny – we’ve actually set the same book goal of 25. I’m currently on 14, 2 behind schedule :(( Need to stop reading massive fantasy novels with 900 pages!

      I’ve worked hard to move my life into a position where I can get the highest savings rate possible, but I do think it will go up when/if I have children or relocate. Hopefully, it will stay this low for at least a few years so I can get a decent nest egg built. 14k is extremely impressive as well – looking forward to interacting with you 🙂

      1. Haha, no copyright on ‘quietly saving’ so you’re alright there! 🙂

        Yeah, been blogging now for over 4 years and still enjoy it. If you don’t mind me linking here, here are some of my most read posts/pages (I wouldn’t describe them as ‘must read’ haha); three personal, three relating to investments:

        http://quietlysaving.co.uk/2018/03/18/my-mum-retired-at-42/
        http://quietlysaving.co.uk/2017/09/23/comparisons/
        http://quietlysaving.co.uk/2016/07/22/final-countdown/
        http://quietlysaving.co.uk/investments-and-portfolio/
        http://quietlysaving.co.uk/2017/06/08/investment-strategy-updated/
        http://quietlysaving.co.uk/2017/06/16/race-to-200k/

        Hey, nowt wrong with massive fantasy novels with 900 pages, since I’m quite partial to those too, although the last 900 pager I read was sci-fi. Drop me a Goodreads friend invite so we can compare books! 🙂 My original target was 30 but I changed it recently to be more realistic but will still be pushed to reach it.

        1. Awesome! I’ll read these this morning, thanks! 🙂

          I’ve sent you an invite on my personal account. Please don’t laugh at my minuscule 54 recorded books on Goodreads. I bow down to your superior-reading’ness – your read pile is humungous!

          1. Hah, thanks! I had a lot of time on my hands one time and logged every single book that I could ever remember reading, hence the humongous read pile! The ones I’ve read since joining Goodreads are the ones which have little reviews.

    1. Hi Rob,

      Awesome to have you with us 😀 Thanks for pointing that out, not sure what was up with it! I just refreshed the media and it’s now working!

      I hope you like the spreadsheet, let me know if you have any suggestions 🙂

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