July 2018 Savings Rate

Below is a breakdown of the July 2018 Savings Rate. It’s our first month with the new “normal”, e.g. being on one income. How did we do?

July Finances

Where did we spent our money on in July? Well, here is our overview of the various ins and outs of the budget:

  • One income by Mrs CF, but high business expenses that drive down this income. Expense claim should probably come in September. So a very low income for the month.
  • Crowdfunding income was €367, due to early payback of two loans. This income will quickly decline to below €150 month in the coming year.
  • Living expenses were low due to the year end return by the utility provider (€196!). Lowered the new monthly bill to the minimum allowable. Total expenses €580 (mortgage interest, health insurance, utility bills, phone bills, home insurance).
  • Groceries were high, as we had to restocked upon coming back from our 9 week road trip. Total of €476, that’s €100 above the YTD average!
  • Transportation was low at €276, did not drive much and no special expenses.
  • Kid: normal expense for the after school care at €322, no other items this month.
  • Leisure was low at just €13. Couple of trips to the swimming pool. Other outings were free.
  • Other items: €418. This includes a couple of workout related expenses (including a pool access pass for the coming year) and a new (used) office chair. Also includes some gifts and other minor items.

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July 2018 Savings Rate

As noted. July was the first month with the new “normal”, albeit income was low due to business expenses. Still, we managed to have a savings rate of 23.4%. Peanuts compared to the previous months, but very much acceptable on one income! Still a YTD savings rate of 52.8% though 🙂

Here are the stats for the month of July:

July 2018 Savings Rate - Overview
July 2018 Savings Rate – Overview

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

July 2018 Savings Rate - Expenses
July 2018 Savings Rate – Expenses

Forecast Coming Months

There is not much new to report compared to what I mentioned last month. I’m happily unemployed and for now only Mrs. CF brings in the cash. The coming months will have higher expenses because of renovations around the house. Busy with improving insulation at various places to lower the heating bill this coming winters. Painting is almost complete.


How was your month in terms of savings? Enjoying the summer season?


    1. Thanks! Yeah, no complaining here for sure. Albeit in absolute terms, we didn’t save a lot of money this month. That said, we are obviously okay with that 😉

  1. Hi, love your blog! You (and some other bloggers ) created a lot of awareness of my personal financial situation. I have been on a FIRE trip now since just over a year, thanks!
    A question: how do you guys calculate your Saving Rate YTD. Maths have never been my strongest but when I add up the monthly rates and divide them by 7 I come to just over 45% (still very respectable and well over my average 🙂 )

    1. Hey Frank,
      First off, good for you! Glad you are on the journey to FIRE! It will be hard but very rewarding 🙂

      To answer the question, the incomes and expenses change per month, so an average of the percentages shown is not going to be the same as the percentage over the total income and total expenses for the year. We earned a lot more in the beginning of the year, so the savings rate there was much higher in absolute terms than that of July (if they would have been the same rate).
      For example, say we earned 10K in January, with a 50% savings rate we would have saved 5k. In February say we earned 6k, with a savings rate of 30% = 1.8k saved. Looking at the graph, you’d think you’d have a 40% savings rate. However, in reality you earned 16k and you saved 6.8k. This leads to a 42.5% savings rate. Hope this helps!

      1. Thank you, that makes perfect sense! I applied your method and guess what? My saving rate over this year is now slightly higher than after averaging the months ;-).

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