The savings rate for November is finally in line with what should be the new “normal”. After we moved and settled down in our current (temporary) rental place in late August of 2015, Team CF started looking for new jobs.
Mr. CF found a job starting early September and Mrs. CF found a new job starting early November. As a result little Miss CF stared with fulltime daycare in early November. Due to the timing of paychecks and daycare payments (and associated benefits) we still have not had a complete month with all incomes and expenses, but November 2015 should be a reasonable representation of the future months.
The savings rates up to and including November 2015 are:
The savings rate for July and August are 0% because we did not have any income for these months. With the first partial payment coming in late September. However, due to some expenses related to our move and our car, the actual savings rate was negative for the month (i.e. we spend more than we earned). Not good, but an unavoidable result of our new circumstances.
We already faired a bit better in October, but had one large and very expensive birthday present in the form of a kitchen machine (a magimix 5200XL for those cooking enthusiasts). We do a lot of cooking at home and needed a good machine that would last a very long time. We did a lot of research and after thinking about it for nearly two months (it certainly was not an impulse purchase), we bought one. After having used it extensively over the last two months, we are confident we made the right decision (should be a frugal one for that matter as well). But it’s still a bloody expensive piece of kit!
The savings rate for November is not bad, but certainly not as good as we would like it (the target is 50% and up). The main culprit for the “low” saving rate is: daycare. We are currently spending more on full time daycare than on the combined living and healthcare expenses! For a breakdown on expenses, see here.
There are a couple of reasons for this, which include the fact that our daycare benefits (the Dutch government provides benefits to partially cover daycare costs, the amount is subject to your income) have not started to come in yet. None of the grandparents are able to help out (as most still work), so we need full time daycare. We have also opted for a daycare facility rather than a dayhome (which is cheaper), due to the very good facilities and recommendations from friends and family. However, considering the massive costs, we will be looking for alternatives that provide equally good services and education for a smaller fee. But the kid comes first, as any parent would agree.