Savings and savings rate on the Budget page
The Budget page treats every dollar of income you haven't budgeted or spent as saved. Total savings = income − whichever is larger, your budget or your spending. Your savings rate is that figure as a share of income.
On a computer the Savings card sits on the right of the Budget page, with your rate in a pill (for example 39% rate). On a phone, open the Savings tab; your Income, Saved and Rate are also at the top of the page.
Where the income comes from
Income on the Budget page is the month's expected recurring income, from the recurring income you set up on the Income page. Where a matching deposit has arrived, the real amount is used; otherwise the expected amount. See The Income page and Recurring bills and income.
Each month uses the income FIYR recorded for it, so a past month keeps the figure it finished with. A future month uses this month's income as its forecast. A past month from before FIYR recorded income shows $0.
What the Savings card shows
- ALLOCATED
- One row per Savings category (Investments and Internal Transfer by default): what you've moved this month / your target. Click the target to set it, like any budget. The green bar is moved ÷ target.
- UNASSIGNED
- "Income left after spending and savings categories." Red with a minus when your spending and savings moves add up to more than your income.
- TOTAL SAVINGS
- Allocated plus Unassigned.
Monthly allocation
Income left after spending and savings categories.
$1,500The formulas
Unassigned = Income − Monthly budget − moved to Savings categories − overspend
- Overspend is how far spending is past the budget, or $0 if it isn't.
Total savings = Income − the larger of (Monthly budget, Spent so far)
- Example: income $6,200, budget $3,800, spent $2,340, $900 moved to Investments. Unassigned = 6,200 − 3,800 − 900 − 0 = $1,500. Total savings = 900 + 1,500 = $2,400, which is 6,200 − 3,800.
- Spend $4,100 instead and you're $300 over: Unassigned drops to $1,200 and Total savings to $2,100 (6,200 − 4,100).
Unspent budget counts as saved, so early in the month Total savings assumes you'll spend exactly your budget, no more. Until you go over, spending less than your budget doesn't raise the figure; budgeting less does.
Savings rate = Total savings ÷ Income × 100, rounded
- $2,400 ÷ $6,200 = 39%.
The Saved figure (on a phone, and as Savings in the bar at the top on a computer) is the same as Total savings, except it never counts a negative Unassigned amount.
Savings targets
The amount you type on a Savings category is a target, not a spending limit. It isn't part of your Monthly budget, and money moved into those categories is counted as saved, not spent. On a phone the Savings tab shows ALLOCATED THIS MONTH against your TARGET, with a bar and how much of the target is funded.
Any category in the Savings group works this way. Existing categories can't be moved into the Savings group, so to track another kind of saving, add a new category and choose Savings as its group; see Category groups.
Count your 401(k) in the rate
Under How it's measured you choose one of three ways, and the choice applies across FIYR, including the Budget page:
| Option | What it counts |
|---|---|
| Bank only | What lands in your accounts, minus what you spend. Ignores your 401(k). This is the rate described above. |
| Including retirement | Adds your 401(k) contributions and employer match to both what you saved and what you had to allocate. |
| Percent of total pay | Everything saved as a share of total pay, taxes included. The strictest figure. |
With one of the retirement options on, the line under the card title says so, for example "including your 401(k)" or "as a share of total pay". Otherwise it reads Monthly allocation. The retirement options need your pay on file in Settings. Without it, FIYR keeps the bank-only rate and the line under the title starts with "bank only" and says what to add.
Common questions
Why is my savings rate 0%?
Your income for the month is $0, which means no recurring income is set up. Add your paycheck as recurring income on the Income page.
Why does it say I've saved money I haven't moved yet?
Unspent budget counts as saved. Total savings is income minus the larger of your budget and your spending, so it assumes the rest of your budget gets spent and nothing more.
Does moving money to my brokerage count as spending?
Not if it is in a Savings category such as Investments or Internal Transfer. It counts as saved and shows under Allocated.
Can I include my 401(k) in the savings rate?
Yes. Go to Settings, then Savings Rate, and choose Including retirement or Percent of total pay.
Does lowering my budget raise my savings?
Yes, until you overspend. Total savings uses the larger of budget and spending, so a smaller budget leaves more unassigned income.
Still stuck?
Email us. A real person who builds FIYR reads every message.