May 2017 Savings Rate

The horror! The pain! May was a brutal month from a Savings Rate perspective. It’s one of those months where all the bills come in at once. But whom am I kidding, we should still be happy with the results as we are still in the black this month. We probably still beat about 95% of the country too (completely pulled that stat out of my a$$). Gotten curious? Let’s have a look at the May 2017 Savings Rate!

May Finances

For May 2017 we ended the month at a savings rate of 29.7%. Really not happy with these results, but you cannot win them all! 

A financial overview of the month:

  • We received our regular incomes and the holiday allowance for Mr CF (at 8.33% of gross income). Mrs CF gets hers paid every month in her salary. We also made a payment for Mrs. CF professional registration fees and costs for a business trip. Reimbursement is scheduled for June;
  • The crowdfunding is now down to just €190 in deposits (we currently have had 4 out of 33 projects with some sort of issue, 2 resulted in a complete loss of payment other are delayed or paid off completely);
  • Living and healthcare spending was insanely high this month due property taxes and waste/sewage fees (~€1000) and the bill for the new windows and associated works (~€1630). Other costs include a new Grohe tap and showerhead for the shower (both broke within just 3 years!) – cost €225. We decided to spend some extra money here in the hopes that it will last longer in our hard water area;
  • The transport costs were above average with about €210. One fuel-up from the holiday was included here. Besides this charge, the overall fuel consumption was pretty low due to all the cycling to work in May;
  • Grocery costs were above normal this month with a total of about €322. Not sure about the reasons actually, did not do anything special, albeit we did by lots of nuts, dates and figs at the market a couple weeks back;
  • The kid category was again fairly stable, we paid for day-care fees (net fees are about €953) and some clothing again (kid is growing fast!);
  • Travel and Leisure for this month was about €110. Had a few day trips and some charges from the holiday in Belgium; and,
  • The other category was about €336 with some cash withdrawals, charges for the gym for Mrs CF, and costs for the reservation of the Meetup room in Utrecht!.

May 2017 Savings Rate 

The savings rate for the month of May was thus 29.7%. The overall savings rate for YTD 2017 is now 57.5%, but we are trending towards losing the “Gold Badass Saver” status this way. Are we worried? Not really :-). We have no major plans for the rest of the year, albeit we are still awaiting the deductible for the work done of the roof earlier this year. This could be up to a €1000 bill (no news yet). We are planning for another vacation, which could be a bit more than the €642 we spend in Belgium. But let’s not get ahead of ourselves too much.

Fun fact for the month, the expenses in May were bigger than that for March and April COMBINED! The only reason why the Saving Rate is still pretty good is because of the Holiday allowance that was paid to Mr CF (in the Netherlands this is a mandatory 8% of income!).

Here are the stats:

May 2017 Savings Rate - Overview
May 2017 Savings Rate – Overview

If you breakdown our expenses for the month, the distribution looks like this:

May 2017 Savings Rate - Expenses
May 2017 Savings Rate – Expenses

How was your Savings Rate? Did you have a bad month too? Was it for similar reasons?


  1. Good update Team CF. You can’t win every month! I have bad months occasionally too!

    As long as this doesn’t become your “usual” spending level, I think you’ll do just fine! Probably you’ll finish the year over 50% — no problem!

    1. Hey Mr Tako, this really was a one off due to the work required on the house (there is a bit more to come….moisture issues). The joys of home ownership! But we should be able to finish the year above the 50%. Not worried yet 😉

  2. For some reason I don’t actually enjoy the maintenance works. These are a must and not really improvements per se to enjoy. But that is the reality of owning a home, and old home in our case.

  3. I think having one month of a savings rate of around a third is still a roaring success! The costs of owning a house are annoying, but what can you do? 🙂

    I know the rest of the year will be awesome for you.

    Mr DDU

  4. May is always great for us as we both get the 8% holiday allowance, plus our employers also pay the annual bonus at this time of the year. So we had a big cash injection, but without it the month would have been not too good as the strong EUR didn’t help the euro value of our US stocks…

    1. Good for you! But yes, the USD did loose some of it’s value which would not help your net worth. On the other hand, great time to buy some new stocks (assuming they are priced right)!

  5. Can’t win everytime. My month wasn’t nearly as good as I thought it may have been but like you said, can’t win all of them. Will keep going to try and increase it for the long run. Cheers

  6. We had a record saving rate of 61% last month. Very happy with that, didn’t feel like any effort at all. Spent a lot of time outside, , nice weather, visited interesting places, went for a few long hikes. We just didnt spent much money:)

    1. Nice! Well done, that’s one heck of a good savings rate. Playing outside a lot, and spending time on hikes, does indeed not give you much time to spend money 🙂

    1. Unamazing? Holy heck mate, our net worth increae was a tenth of yours in percentage! Amongst others due to the low savings rate, stock market and exchange rates. More on this next week with the cheesy index update.

  7. Considering the big expenses, this isn’t too bad! We’ve had the luck to receive two times the holiday money resulting in a 65% savings rate. For us this is almost double than our normal rate.

  8. Great month! Impressive to get ~30% even with all the bad stuff.

    I had a great month, at 53% due to income tax reimbursements. My target SR is 30%, with the current 6 months moving average at only 25%.

    By the way, I also travel a lot for work, booking flights and hotels and other costs that I get reimbursed, but I exclude them from my net worth and SR numbers because they skew them too much. I don’t see them as costs and income. How would your SR look like excluding these business costs and reimbursements?

    1. Nice month! Good luck trying to get to your target number of 30%.
      We would have the exact same YTD savings rate without the business expenses/reimbursements included. Just the monthly SR variation would be less. We keep the expenses included to allow for a better handle on our cash flow.

  9. How do you tie your savings rate calculations to your monthly spending, when you have to keep in account reimbursements for work expenses that might come a month or two later, or credit card statements that come later. Do you retroactively go back and adjust (i.e. cancel out the incurred expense?)

    1. All reinbursements and associated business expenses (including those on credit cards) are booked on the actual transaction dates. I.e. we have fluctuating income depending on the timing of business expenses and reimbursements. This way we keep them out of our personal finances, but they do cause fluctuations in the savings rates (this also happened for January).
      We do this to better track our cash flow, that’s all.

  10. Still beating most people is not bad. And life happens.

    We are down to 7Pct this month (or 24 when you include mortgage as saving – I don’t). Reason. Holiday money is paid for me and is set aside in the travel fund. This is booked as an expense now, rtaher than as a saving now and an expense when we pay the trip. This is thus a mental bucket that makes it (too) easy to book a trip. Money in the bucket? yes? then book!
    Second reason: I am setting aside money for my unpaid parental leave. That means we only do bare bones minimal saving.
    And it feels good!

    1. Glad to read you are still in the black, even with all the reservations. Good luck getting ready for August! What is the next trip?

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