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A couple of things

March 6th, 2013 at 02:44 pm

Our state income tax refund was direct deposited into our account Friday. I transferred all of it to our savings. We're now less than $100 away from having our back porch account full funded.

I calculated another pointless personal finance figure. I was curious as to how much of our monthly family income goes toward building net worth, and how much of it goes to other stuff.

What I came up with (month of April projections) is: 32.4% goes to building net worth, and 67.6% goes to other stuff.

Or, for every ten dollars available to our family to spend, $3.24 goes to principal payments or savings, and $6.76 goes to interest payments, food, fuel, insurance (protecting our net worth), child care, entertainment, and some other stuff.

I had to think about how to handle my employer retirement match. I don't think of it as income. It's not available to spend at our discretion. But, it is a big part of the calculation. So, I ended up adding it to income.

I have no idea what a good number is. 32% sounds pretty good. 35 - 40% sounds better. I'll try to track this periodically over time, and see where it goes.

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