June 2017 Savings Rate

Wow, the June 2017 Savings Rate is a complete turn around from a month ago. Low expenses and high income (we received a tax return, which is probably the last one we will ever get!) made this month a winner. We actually got the highest savings rate for the year, which was a bit unexpected but very welcome.

June Finances

For June 2017 we ended the month at a savings rate of 75.7%. This is insanely good and primarily the results of a perfect storm of high income and low expenses. 

A financial overview of the month:

  • We received our regular incomes and the tax return for 2016. The  anticipated expense claim got moved to July. We had no major business expense this month either;
  • The crowdfunding income was €196 in deposits (combined interest and principle);
  • Living and healthcare spending was very low this month with just over €700. No maintenance works, no taxes and no insurance payments, makes for a cheap month;
  • The transport costs were well above average with over €300. The main reason was the maintenance on Mr. CF’s road bike, which got a new chain and cassette. Fuel was also low for the month (one fuel up only) due to the amount of cycling done;
  • Grocery costs were just below normal this month with a total of about €290. Did well on frugal shopping I guess;
  • The kid category was again fairly stable, we only paid for day-care fees (net fees are about €953);
  • Travel and Leisure for this month was nil. We still had a lot of things going on (including the Meetup in Antwerp – costs are in the Other Category), but apparently this was not very expensive :-). We are however planning a weekend get away in July and another holiday in October if possible ; and,
  • The other category was just under €70, guess we had nothing important to spend money on.

June 2017 Savings Rate 

The savings rate for the month of June was thus 75.7%. Resulting in an overall savings rate for YTD 2017 of 61.1%.

Fun facts for the month, our Living and Healthcare expense for the month were a fifth compared to May. Primary is of course the absence of any maintenance items, taxes or insurance. Resulting in the daycare being the single largest expense for the month, at 40% of the total expenses. Just 3 months left before Miss CF goes to school, yay!

Here are the stats:

June 2017 Savings Rate - Overview
June 2017 Savings Rate – Overview

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

June 2017 Savings Rate - Expenses
June 2017 Savings Rate – Expenses

July won’t be nearly as good as June. The taxes return is one reason obviously, but we also received the bill for the roof repairs of the storm damage. The “damage” was actually €977 for one roof tile! Insane…..but accessibility was indeed an issue and the specific tile was very hard to reach.  The car is also due for a large maintenance service, costing around €550-ish and includes a airco clean (gosh it smells). But more on this next month.


How about you, how was your month? Did you get a tax refund too, did it help your savings rate?


    1. Hey Lily,
      what?! 94%, holy crackers, that is one heck of a lot of overpaid taxes to make such a savings rate. Any chance you can bring that down for tax year 2017?
      We are pretty happy with the savings rate, but for the record, we only have one Muppet (i.e. kid).

    1. First off, you will be about 5-10% higher since you live in Belgium (grocery prices scared the crap out of us when we were on holiday last May). Secondly: go eat a whole foods plant based diet, we make lots of food for practically peanuts. Added side effects may include, loss of weight, more energy and better overall health.

  1. Getting to a yearly average 50% savings rate would be phenomenal.

    On the June expenses total of approx 2300 (24.3%), are the mortgage payments for the home that you live in included in the monthly expense category ” living expenses & healthcare” or do you keep the mortgage payments in another category?

    1. Hey John,
      Only the interest costs for our mortgage are included in the Living expenses and healthcare category. The principle payment is reworked into the Cheesy Index (as lower debts obviously). Our expenses in terms of cash-flow are therefore a bit higher.
      Thanks for commenting!

  2. I’m hoping the opposite will be true for me. June was surprisingly an expensive month for me, so now I’m hoping that July will be relatively cheap.

  3. The best savings rate for the year so far! That is fantastic, well done to you. I hope you can continue to save a lot and put more towards that cheesy retirement! Well done!

    1. As you will see later this month, the Cheesy Index did get a nice bump up too 🙂 As long as we keep the average around or above the 50% mark, I’m happy!

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