Savings Rate August 2016

August was a bit of a “mess” from a Savings Rate perspective, but this was far from a bad thing. Let us explain:

  • We finally received the final tax refund for Mr. CF, which came in at just above €2000! Yeah, nice extra income.
  • Other income was normal and we even got all expense claims paid on time, lovely.
  • Now that Miss CF started daycare again, we also reapplied for the daycare benefits, and we got the payment for both August and September in once go: €640 in reduced expenses
  • We also received (finally) the deposit for our previous rental back on our account: €1770 in reduced expenses for the “living category” (we had previously entered this as an expense in 2015)
  • We got a €400 bill for assessments completed on our two new rentals (these are mandatory if you want to rent units and include the so called “energy index” and point score = maximum rental price)
  • We had the first fill month of interest charges on the mortgage (at around €820).
  • We received a refund of €515 on our gas and electricity bill of the previous home we were living in. This is very welcome obviously, but it also meant that we overpaid for the last year and had higher out of pocket expenses than we should. We will try to do this better in our new home, which should be possible as we now have remote meters that are downloaded every two months. Should be albe to lower the cashflow costs a bit this way.
  • We bought some new tires and tubes for the road bike and our regular commuting bike for Mrs. CF (the valve snapped off: loud bang and scared the crap out of Miss CF, whom was riding on the back) at €85.
  • Sold various items on Marktplaats (local ebay, kijiji, etc.) and cashed about €90.

All other expenses were pretty normal (e.g. food, utilities, insurance, car, etc.), so no surprises here. But due to all the significant transfers in and out of the checking account, the Savings Rate for August is a bit strange. According to the numbers we had negative expenses in the Living and Healthcare category (caused by the refund of the rental deposit). But we ended up with a savings rate of nearly 87.6%, which is really good! It nicely compensates the savings rate of July, which was only 32.0% (corrected from 39.6% due to a charge that had a shift in settlement date from August into July). The very good news is that our yearly overall SR is now back over 55% again! See below for the various graphs.

How was your August? Got hit by holiday expenses, or did you also receive final tax refunds?

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  1. Wow – that’s a huge savings rate! I thing monthly savings rates are important to look but these kind of one-time payments/expenses/income inflows can really skew results so it’ll be good to see what the full year looks like!

    1. Absolutely true, the month on month Savings Rates can be all over the place. That is also why we like to focus more on the YTD SR, which provides a better reflection how you are doing. But that being said, the 87% SR did feel really good 😉

  2. Woah, now that is a high savings rate right there. There were definitely a lot of moving parts this month between the various rebates, tax benefits, etc., and luckily they fell in your favor versus the other direction haha Are you able to change how much you pay monthly for utilities that will prevent you overpaying to help cut down out of pocket expenses?


    1. Hey Bert,
      We have some control over the utilities, but only once we have a bit of a track record (we can request a lower monthly bill). Most of the other expenses are somewhat out of our control (timing and/or value, albeit the latter is under our control for some obviously).
      Take care!

  3. Damn, over 80% that’s fantastic! All the refunds and extra money certainly help achieving the high savings rate. Regardless, a high savings rate is a high savings rate. 🙂

  4. Awesome job Cheesys! That must be your highest savings rate ever? Congrats on all the refunds and extra money hitting your bank, that must be nice for you 🙂

    Our August was pretty good, we also got some tax refunds this month which will bump up the savings rate a bit.


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