December Savings/Debt Repayment Percentage

by Andy Hough on January 7, 2008

My savings/debt repayment percentage for December was 55%.  I paid $1095.23 towards my student loans and contributed $350 to my IRA.  This was out of a total income of $2617.84.  I did carry some savings into the month which went towards paying my student loan but I also received a paycheck on the last day of the month which was too late to use the proceeds towards paying debt or an IRA contribution.  Therefore I think it is pretty accurate to say that my savings/debt repayment percentage was 55% of my income.  This is the last month I’ll keep track of the percentage for a few months because I won’t have much income while I’m in school.

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