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What share of your income you are saving.
Free to use, no sign-up required. Savings Rate is one of 198 tools built into Xenition, alongside a chat that can use them for you.
Shows what share of your take-home pay you are saving, a common measure for tracking a budget or progress towards financial independence.
Savings rate = amount saved ÷ take-home income × 100, to one decimal. Spent is simply income minus the amount saved. Both figures must cover the same period.
Saving 800 from a take-home income of 4,000 is a savings rate of 800 ÷ 4,000 = 20%, with 3,200 spent.
This tool is built around take-home, or net, pay, which is the money you can actually decide to save or spend. Using gross income gives a lower rate that is harder to compare month to month.
A common guideline is 20% of take-home pay, as in the 50/30/20 budget. People aiming to retire early often save 40% or more. What matters most is that the rate is steady or rising.
You do not have to open Savings Rate to use it. Ask Xenition in plain language and it runs the right tool, then carries the answer into whatever you are working on — a document, a spreadsheet, a deck.