375 | What is Savings Rate and How to Calculate It?

ChooseFI

Brad Barrett | Choose FI Media

Financialindependence, Investing, Firemovement, Passiveincome, Frugalliving, Personalfinancepodcast, Daveramsey, Careers, Business, Earlyretirement, Habits

4.8 • 5K Ratings

🗓️ 2 May 2022

⏱️ 49 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

In this week's episode, Brad and Jonathan continue along their, "Financial Independence A to Z," journey by examining savings rate and the many different ways it can be calculated! One of the pillars that sets the FI community apart is the emphasis on saving money in order to unlock more in your life. So, by having the right tools needed to calculate your savings rate, you can begin to make adjustments and hopefully start the process of taking back your time!

Timestamps

0:59 - Introductions
4:30 - Ben's Question
7:41 - How Do You Calculate Your Savings Rate?
12:00 - Why Savings Rate Is Important
18:25 - Nuances In Saving
21:55 - Calculation Example
28:15 - Scenario Three
37:57 - Looking At The Nuances
46:56 - Conclusion

Resources Mentioned In Today’s Conversation

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Transcript

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0:00.0	On today's episode, we're taking a listener question around savings rate.
0:03.4	What is it?
0:04.2	Why is it important and how?
0:05.8	Do I calculate it?
0:06.9	Welcome to the ultimate crowdsource personal finance show.
0:09.5	This is ChooseFI.
0:11.4	You're listening to ChooseFI radio.
0:16.0	The blueprint for financial independence lives here.
0:18.8	If you're looking to unlock the secrets to financial independence and early retirement,
0:25.8	you're in the right place.
0:27.8	Stay tuned and join a community of like-minded people who are getting off the Amsterdam
0:38.8	and taking control of their lives in the pursuit of financial independence.
0:42.8	ChooseFI.
0:43.8	You're home for financial independence on live.
0:58.8	Are you guys very excited to dive into this week's episode and help me with this?
1:01.8	I have my co-host Brad here with me today.
1:03.8	How you doing buddy?
1:04.8	Hey Jonathan, I am doing quite well.
1:06.8	Yeah, what's going on with you?
1:07.8	You know, we're about to start recording and I hear the thunder, the pitter-patter of feet coming up the stairs.
1:12.8	I'm like, oh, that's my daughter and then there's heavier feet.
1:15.8	I'm like, oh, it's more than one.
	...

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