1 Million Dollars

Saturday, January 3, 2015

Millionaire Update!!! January 2015 and 2014 round up

What a way to start the new year!  We now have $26,752, not a huge jump from the beginning of December but a huge jump from the beginning of 2014 when we only had $16,462.  That was a 62% increase, wow!  In addition, it looks like we invested $9714, saved $4391 and paid off $18194 of  over 2014, 59% of our gross income of $54150.  Wow!  However, it is not fair to say we saved 59% because part of the debt pay off was from savings.  If we remove the $11,000 we save before 2014, we only saved 39% of our gross income. So we still have a ways to go to get to saving 50% of our gross income, but we are definitely on our way up.  My goal for next year is saving 50%!  This will take some side hustling because even in the best case my budget shows me $6213 short of that goal but what is a goal but something to reach for?

I'm still struggling with grocery and restaurant spending, though the restaurant spending has gone down. You can follow my fight with our grocery bill here.  If I want any chance of saving 50% I need to get spending within budget.

But I am proud of my 62% increase and if the market cooperates, even just our auto transfers to my husband's 403b will get another 62% increase.  Here is to both 2014 and 2015!  Let's go!


  1. I was wondering how to calculate the savings rate when you pay off debt. I was just thinking about how I was going to calculate mine for this year because I just paid off debt. I'll probably just look at it from now forward.

  2. Millennial Boss, I count it as part of the savings rate because it increases my net worth. So if you save $100 and use $100 to pay down debt (excluding interest payments), I count that as "saving" $200 against your gross income.

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