I thought it would be interesting to figure out what our household savings rate was. I know, not the most exciting stat in the world, but I get amused by these things, because I'm a bit of a numbers guy, so bear with me.
Basically, I wanted to know how much money we were keeping (investing in equities, mutual funds within registered and non registered accounts) when compared with the total employment income that was coming in.
Here are the results I came up with for the last year from today:
Out of $1.00 earned in gross income we were able to save $0.25 or 25%.
Out of $1.00 earned in net income we were able to save $0.34 or 34%
This was eye opening to me as this value ($0.34), is much greater than our next greatest expenditure, which is mortgage and property tax ($0.19 out of $1.00). Groceries came in at $0.07 on the dollar and electricity/water at $0.013 cents.
Of course, out of the remaining $0.66 it is not all getting burned, (or not saved or invested), as some is paying off our mortgage, and improving our home which should be viewed as investments, and are related to savings as they are positive for our net worth.