After the epic road trip, it was time to start figuring out how much we had spent (and saved!) in the past 3 months. Below is a breakdown of the June 2018 Savings Rate (with catch-up from April and May too).
April – June Finances
April through June were messy months in terms of both incomes and expenses. We received our tax returns from 2015 (final assessment) and 2017 (temporary assessment). The 2017 ones were as planned, the 2015 one was a surprise! The temporary assessment did not show any money being returned. Not complaining here about the payout!
My income still came in in April and partially in May (holiday allowance and final payout). Mrs CF’s came in in April and partially in May and June (4 weeks of unpaid leave spread over those months). The good thing is that we also received some money in April, May and June from our house being rented through Airbnb! All in all, no complaining on the income front.
Expenses were well above average due to the road trip, obviously. Food and fuel costs were much higher too. Because we prepared the car for the trip, we also had some maintenance costs in April. No issues during the trip, so it was money well spent.
Daycare costs were lower, as we took Miss CF out of after-school care for 2,5 months. She started again in July, as she loves it and it give me time to work around the house/start with the side hustle.
A more detailed breakdown of the holiday expenses is still to be completed, but we came in under budget!
June 2018 Savings Rate (and catch up)
With all the extra income from tax returns and Airbnb rental, we were able to stay in the black despite the road trip! This was a big and pleasant surprise. Did not expect that at all. The savings rate for the year is now a very respectable 54.6%, including the entire road trip!
Here are the stats for the last three months:
If you breakdown our expenses for the month, the distribution looks like this:
Forecast Coming Months
As you are most likely aware. I’m unemployed and for now only Mrs. CF brings in the cash. The coming months will have higher expenses too. This because of renovations around the house. We want to add/improve insulation at various places to lower the heating bill this coming winter (and the next). There is also some painting work to be done.
The new side hustle is therefore on the back burner for the summer. I also want to take it easy during the summer and enjoy the season. The side hustle activities should pick up in the fall. Hopefully by the end of the year there might be some income from this. Otherwise next year, I’m in no rush.
No other exciting things planned for now that cost heaps of money, other than our real estate investments. That being said, the savings rate will drop. We hope to stay within the 20-40% range going forward. December should be a nice one once again with a couple payment for Mrs CF. Might hit the 50% once again.
How about you? How was your month in terms of savings and living life?