How to use this site

Everyone has personal aspirations and goals that make his or her financial situation unique. People also have their own ideas about financial freedom and empowerment. In fact, some people focused on saving might not even have financial freedom in mind. Though it's perfectly fine to use this site to track your savings rate however you'd like, we have a few recommendations.

Only track real savings

At SavingsRateWars we use savings to calculate your spending. That means, you could have a higher savings rate if you included all of your savings, however, we recommend that you do not include all of your savings. There are many examples of savings that should not count towards your savings rate. A good rule of thumb is, don't count it, if it doesn't truly go towards your goal. An example of this might be an emergency fund that you dip into for big purchases. Though you might put money in this account every month, and it's certainly part of your net worth, you might decide money added to this account shouldn't be included in your savings rate because it's not towards your investments and it's not going into your personal freedom fund. Again, this is a personal decision, however, if financial independence is your goal, we recommend excluding these types of savings.

Be honest with yourself

Though you can certainly fudge the numbers and stretch the truth about your true savings, those actions will never help you gain financial freedom. Accept your failures and learn from your mistakes. It's okay to have a bad month or two. Just use the tool to help you understand your progress.

Understand the tool

This site does not track your net worth or savings towards specific goals. This tool simply helps you keep track of your savings rate over time. We recommend you use personal capital or mint.com if you're interested in tracking your overall net worth or savings towards specific goals.

What's a competitive person to do?

If you're competitive you should definitely use this site to compete with other users. One of the things that makes this site unique is that it allows you to compete with other users and see your data plotted alongside theirs when "war mode" is turned "on". Though you're not obligated to use this functionality, you should definitely consider using it if you think it could help motivate you. The choice is yours.