23 in 2023 Challenge: Save 23% of your income in 2023

I count it as both income and savings.


Yup both income and savings. Increases your gross but also increases your savings


Thanks! That was my initial impulse, but then I started overthinking it, lol.

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In another thread there was a discussion of whether gift cards should be income. I have never counted them this way (I am a big believer in the YMOYL principle that there is no typical month anyway), but this month we received almost $800 in EBT/SNAP benefits (long story, actually meant for the XFP) so it looks in YNAB like we are only spending a few hundred dollars on groceries. That has me wondering whether it’s worth accounting for gift cards.

YNAB users: Does anyone have a strategy for counting gift cards as income? Should I make an Account category for it?

(I also don’t count cash. Cash is like Monopoly money to me. It doesn’t feel real somehow.)

January check in:

Pre-tax income: $5964
Total savings: $1723.28
Savings percentage: %28.89

This was a very high income month for me. Normally I would have saved more than this, but it was also a high spend month due to things related to buying a house (inspection and appraisal).

February and March will likely be low income months (especially from my pet sitting job – mid Jan through March is the slow season), plus will have costs associated with moving even though it’s a local move, so I wouldn’t be surprised if I’m unable to keep to a 23% rate then. We’ll see!


My pre-tax income this year is $50,000 (unless something changes), so my goal is to save $11,500 total. 3% is automatically put towards retirement, so I only really need to save $10,000 more-- $834 a month. I’ll be spending more in the summer with moving and traveling (although I’ve already set aside some money for that in sinking funds), but I hope to save more in the spring and fall to compensate. Here goes!


January Update: Saved $1950 this month! While groceries were more expensive than I wanted them to be, and I splurged on cat toys, I didn’t spend as much as I thought I was going to. Lowered gas prices also helped a bunch. Hoping to keep up the momentum in February! I’m currently $1950 / $10000 to my goal, almost %20 already.

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check in for January!

my goal was to get my RDSP account opened (I’m canadian on long term disability and have the disability tax credit which will mean that the govt matches my contributions up to $3500 each year). got that set up and made my first contributions! it will be a few weeks before I get the matching funds, but I’ve counted them in my total for the month. I’m also not 100% sure what my mortgage principal vs interest is, so I’ve based it on the average amount from last year. Mini goal for february will be not to have negative in the short term savings accounts!

short term savings: -20
emergency fund: 200
RRSP: 100
TFSA: 500
RDSP: 500
mortgage: 240
total: $1520


I only just did my Feb 1 check in (for January results, markets are up, yay).

January check-in

roth401(k): $704
rothIRA: $500
mortgage principal: $433
total: $1637

gross income: $7042
saved: 23.2%

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