Saving part of your income is essential for achieving financial independence and stability. The most common suggestion is to try to put aside and invest at least 20% of your income.
Savings Rate
Bilance will help you track your savings rate and improve it over time.
The Savings rate is the percentage of personal income that a person saves or invests rather than spends on consumption.
For example, if you make 1000€ per month and spend 800€, your saving is 200€ which makes your savings rate 20%.
Bilance includes investments as money saved or put aside. So if you make 1000€, spend 800€, and invest 200€ then your savings rate is also 20%.
Savings Club
Bilance will award you with badges to motivate you to keep your savings rate or improve it. The Savings club has Badges for each level you reach.
Starting from a minimum 10% savings rate:
10%-19% = 10% Saved Club
20%-29% = 20% Saved Club
30%-39% = 30% Saved Club
etc.
You get the point. ;) Can you make it to the 50% club? 😏
The last thing about Saving club is streaks. For each month you maintain your savings rate consecutively you get a streak. If you keep it for a year you get a 12-month streak.
Each time you reach a higher lever you keep all your previous levels streaks but also start a new streak on a higher level.
For example, if you reach a new level each month for 6 months in a row it would look like this:
10% Club - 6 months streak
20% Club - 5 months streak
30% Club - 4 months streak
40% Club - 3 months streak
50% Club - 2 months streak
60% Club - 1 month streak