My First Savings Report - September 2014

Updated: 1 March, 2017 seen 948

Around 9 months ago I started Online Income Reports series, sharing  income I have made solely on internet, by using my blog and sometimes some other websites (I have built by myself).

For now - there are two income sources that gives me some money - Google AdSense and affiliate marketing. With second making it's lions share (around 90-95%).

As well I'm living in fast developing economy of Georgia. Prices in Georgia are pretty low, and a person with $400 income monthly, can live here pretty good. Not to mention that average salary here is (was in 2012) around $413, while minimum wage is $51 (2014).

Since I'm living here, working here and really enjoying both living and working here - I decided to start some kind of savings exactly in Georgia.

  1. Now, first step was to open a bank account in Georgia.
  2. Second step was to open a savings account in Georgia.
  3. Third and most important step was to act.

So after fulfilling all of these above mentioned requirements I did deposited my first amount of money on savings account.

I did it on September 29th, 2014 (this is for history)

Starting deposit money was 300 GEL, what equals to around $170 or EUR 131

I made a table, to follow up my savings

Date Deposit (GEL) Annual rate Monthly rate Actual rate USD Buy USD SELL USD EUR Buy EUR SELL EUR
29.09.2014 300 6% 0.50%   1.738 1.768 169.68 2.215 2.276 131.81

My savings table


Do I have any goals with my savings? Well, kind of... for next 6 months I'm looking to save some 300 GEL ($170) per month. Then... I don't know. Either I'm going to re-capitalize my saved money in other, probably higher risk deals.. or.. 

So, for my first savings report that's all, I will add a next post after depositing next amount of money.