I’m a big fan of four day weekends and wish they were more common. It’s nice to spend some time with people you don’t see that often and also to have some time to unwind and relax. It’s also as good a time as any to do some analysis on my savings rate for the prior month and see how I did.
That longer break gives me a little taste of what being retired might be like and I quite like that. It’s always good to take a little break and see how bored you get when away from work for an extended period of time.
Yesterday was Black Friday, a day known for shopping and great deals and I spent the entire day locked up at home napping and watching a marathon of The Punisher on Netflix.
I’m not too keen on getting out there and braving the crowds although more and more of that is moving online.
We did do some shopping there as my girlfriend bought a few things that her cousins had on their Christmas list at a big discount. That’s one good thing about Black Friday, it allows you to buy things that you were going to buy anyway at a big discount and that’s always nice. I think a lot of people see the discount and end up buying things they don’t need just because they’re on sale but as long as one is smart about Black Friday, it can be a big boon to long term savings plan. If I was going to buy something anyway, I might as well wait and buy it 40% off.
One of the key things for me in the last few months is trying to hit a savings rate that will help hit my savings rate goals for the year. As I discussed in my Q3 review post, I’m a bit behind on my bronze medal goal for both savings rate metrics and will need a solid October, November and December to remedy that.
The one important thing is that December is a 3 paycheck month which will be a big boost to those goals but I also want to make sure that October and November don’t lag far behind. That post was written at the end of October so it was too late to impact October results but these winter months are generally better than the summer months. That’s largely due to the fact that I spend more time indoors and that leads to less spending since it’s easier to spend money on something like lunch when you’re two hours away from home on a day trip.
Holiday season often means that there’s additional spending and such on gifts but we’re not a huge Christmas family and I only have to get gifts for the children in the family which also helps keep the costs down. The fact that December is a three paycheck month also means good things for December savings rate results. I think that as long as October and November come in near my savings rate goals(~30% for gross income SR and ~40% for savings rate), then I’ll be in a good spot to hit my 2017 annual goals.
With that in mind, let’s take a look at how I did in October. Continue reading “Time in the market savings rate and expenses – October 2017”