I’m in but I already know I win because with student loan bills at $719/mo x12 and $35,000 salary puts me at 24.65%. Things might change if I find a new job like I want, but highly unlikely to see the kind of income increase that would change this equation.
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I’m in, and if the expanded child tax credit happens to get extended, I might make a play for the $20,220 challenge at the same time!
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I’m in. I would love to do the $20,220 one but I’ll be out of work for half the year and only getting a small amount of maternity leave pay so 22% is much more likely.
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I’m in. Lets gooooooo!
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I would also like to join the 22% of my income this year. I am still a broke student, so I will do my best. If I can save 1000 Danish Krone (Crowns) then that will put me over the amount. If and when I complete my degree I will have a higher unemployment check, then my current allowance from my husband.
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That reminds me to add this for anyone - if you try for 22% and it isn’t viable, the 22 in 2022 Challenge: Save $22 Per Week/Month - #2 by Greyweld will welcome you with open arms at any time.
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I’m in tentatively. I’m still waiting on 2021 results (won’t know the final % until I get paid this Friday for last pay period (well, I’ll be able to see the numbers on Thursday afternoon), but it will likely be around 28 or 29% (though I got that mini bonus so it might be a tad lower)). I may try to save less aggressively this year though, to help with feelings, so we’ll see.
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Well, because my income was so low this month (no day job income for next two months and lots of “checks in the mail” for OMD), I’m doing great from a percentage standpoint. I saved 78.72% of my income. Not doing great from an income perspective yet, but this was the plan.
| Income | January | YTD |
|---|---|---|
| Day Job | $0 | $0 |
| Net income from OMD | $507.50 | $507.50 |
| Bank Interest and Misc | $.66 | $.66 |
| — | ---- | — |
| SEP- IRA Savings | $400 | $400 |
| Percentage Saved | 78.72% | 78.72% |
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January is somehow both already over and finally over. There is suddenly still daylight at daycare pickup, so the worst of the darkness is also over! So, the numbers (hard mode, because it’s simpler):
January Income Total: $5,210
January Savings Total: $1,881
January Percent Savings: 36%
2022 Savings Total: $1,881
2022 Percent Savings: 36%
I got my W2 and finished my tax return last night, so hopefully will see the refund(s) next month.
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I’m in. With my individual allowance I already save 25%. It’s set up to go in automatically.
We should be able to do 22% with our joint money. We’ll see. It depends how much gets sucked up by house and yard repairs and renovations.
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January Income Total: $9401.04 (includes $5000 gift)
January Savings Total: $6348.75
January Percent Savings: 67.5%
2022 Savings Total: $6348.75
2022 Percent Savings: 67.5%
Using post-tax income because I’m too lazy to look up the pay stubs from all my jobs, but including my vested 401k match.
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January
Pre tax income $2472
Total saved $500
20.2%
This will be my base savings every month, but once I put my tax refund and (hopefully) some commission checks in, it will be a higher number. I thought I was going to sell some jobs that I ended up not getting, so commissions are starting slow this year. But supposedly housing/remodeling is going to be up again, so we will see… 
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February same as January…
Pre tax income $2472
Total saved $500
20.2%
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This month includes federal tax refund, maybe state next month? Then after that the savings percentage will drop.
February Income Total: $7,577
February Savings Total: $3,844
February Percent Savings: 51%
2022 Savings Total: $5,725
2022 Percent Savings: 45%
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Income low, not as low as January, but still have another month before I start working a job again.
| Income | January | Feb | YTD |
|---|---|---|---|
| Day Job | $0 | $0 | $0 |
| Net income from OMD | $507.50 | $1,980.38 | $2,393.89 |
| Bank Interest and Misc | $.66 | $.27 | $0.93 |
| — | ---- | — | — |
| SEP- IRA Savings | $400 | $100 | $500 |
| Percentage Saved | 78.72% | 5.05% | 20.88% |
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March:
Pre tax income $7249 (I got both tax refunds totaling $4159)
Total saved $4625
63.8%
YTD:
Income $12,193
Saved $5625
46.1%
I am still hoping for some commission checks this year. March was better than Jan or Feb for sales, so fingers crossed it is picking up.
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I accept the challenge to save $20,220 in 2022. I have $6,060 saved so far. It’s gonna be tight! My investment policy / plan I recently made said my savings goal would be $21,000 per year, so yeah this is gonna be a real challenge for myself! I save over half my Social Security disability check each month.
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This is amazing! You’re doing fantastic for it only being april and having $6,060 saved!
Thank you so much. It helps with my guy living with me here. As he pays half of the utils, groceries and shelter expenses. We have a very modest home in a cheap state. Almost have it paid off, $40k more.
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April
Pre tax income $2472
Total saved $500
20.2%
April was a really excellent sales month. YAY! I am still hoping for a nice commission check so I can join the save $20,220 thread, but I won’t know that for a few months yet. I let my commission sit in my “work bank” until I know I won’t need to rely on that money to cover my base pay during slow months when I don’t sell enough to cover it. It is usually July before I know what the year is really going to do and I feel comfortable taking anything extra out.
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