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

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

• Find The Article Mentioned By Brad and Jonathan Here!
• KiwiCo
• The Tim Ferris Show
• Check Out ChooseFI's Financial Independence A to Z series!
• Subscribe to The FI Weekly!

If You Want To Support ChooseFI:

• Earn $1,000 in cashback with ChooseFI's 3-card credit card strategy
• Share FI by sending a friend ChooseFI: Your Blueprint to Financial Independence
• Track your personal finances with Personal Capital
• Compare, buy, and save big on insurance with Policygenius
• Keep learning or start a new sidehustle with one of our educational courses
• Slash your cellphone bill without sacrificing service with Mint Mobile