Savings Rate October 2016

A new month, a new Saving Rate overview! We’ve now already closed the 10th month of 2016. Time flies when your having fun! I’m actually secretly very curious how the total finances for 2016 are going to look. But let’s not get ahead of myself here.

October was another good month from a social perspective. We had a blast at the FIRED-UP meeting in Breda with fellow FIRE enthousiasts, which was awesome. Thanks again for everyone that attended, we are planning another one for January 2017, more details to follow this month (so keep an eye out for that).

As to the financial side of October, here is a quick overview:

  • Incomes from both Mr and Mrs CF were normal, and we finally got the long awaited expense claim back;
  • Income (principal and interest payments) from crowdfunding loans is now exceeding €155/month;
  • We received full income from our two new rental properties and the commercial unit, adding a very nice €1400+ to our income (if you think this is nice, wait until you see next month….. details to follow);
  • Living expenses were high this month due to the quarterly payments for insurances and some maintenance related expenses. We also had to pay sewage fees and property taxes that were incorrectly allocated during the sale of property to us (~€80);
  • Groceries & grooming a bit below average at around €338;
  • Transport costs were higher this month due to quarterly road tax (€179), fuel (€55) and insurance expenses;
  • Costs for day-care and kid related expenses where slightly higher (~€1220, including benefits) due to an outstanding day care payment and the costs of the birthday gifts for Miss CF;
  • The cost for the FIRED-UP meeting was €66 and is covered under the leisure section of the budget;
  • Gifts came in at €32 this month (all experiences, no stuff);
  • Finally, we Mr CF bought new winter cycling clothing, which came in at a whopping €205. But it is money well spend as the last two trips were very comfortable and I was not cold at all, a major win here!

The saving rate for October ended up being just below average due to various higher quarterly expenses and some expensive purchases like the cycle clothing. We ended the month with a nice savings rate of 53.1%. See below for the usual graphs. Considering the projected income and expenses, we should be albe to close out the year about 57-58%. That would be seriously nice!

201610-savings-rates

201610-expenses

How did you do this month? Any large expenses, or bonus incomes? Let us know how you did!!

28 comments

    1. Hey MrSLM,
      Sorry about the cliffhanger, but I promiss it is pretty good and worth waiting for!
      Have a great weekend.

    1. I stashed 56% in October on my personal account, and my wife and I stashed 20% on our household account. Adding up my part of the household savings to my personal account would result in a savings rate of 63% for myself.

    1. Hello Tristan, absolutely, it is definitely good news. Turns out our rental ROI is better than expected, and the taxes are also lower than expected, double win here. There is also another post on saving rates coming up that will explain more on the target for next year.

    1. Thanks ADI, August was a special month, we got our deposit back from our previous rental home we were in ourselves. In the same month we also got taxes back for Mr. CF , this helped get that enormous savings rate.

    1. Thank you, we are actually getting our cash-flow closer and closer to our FIRE target. Might even get there sooner than expected!

    1. Thanks AT. We are considering to set the target for 2017 at 60%, primarily due to the increase in rental income and an expected increase in income due to the career switch. There is little we can do at this stage to bring down the expenses, so increasing income is the way to go forward for us at this point.

  1. Thanks for the overview; it’s always valuable to see savings rate of people from tree same country.
    I see your crowd funding income is a nice little extra. I’m also looking at crowd funding opportunities that are available from NL as well, but didn’t make up my mind about it yet. It would be very interesting to read about your crowd funding experience so far, like which platform you use, how do you select the project to finance, what is the percentage of defaulted loans etc. Maybe I’m not the only one who would be keen to read about it.

    1. Thanks for the reminder, really need to sit down and write a post about crowdfuding loans. Only problem is that we have a short track record, so it may turn into a quarterly or half yearly series to keep track.

    1. Hey Fred,
      60%, really, wow! That is awesome! Good for you. Even a normal saving rate of 25-30% is pretty good, as long as you can make sure you can keep increasing it, you are doing something rigth. Good luck.

    1. Miss CF gaat 4 dagen per week naar de dagopvang. Oma past “gratis” op 1 dag per week. De dagopvang is zelfs niet eens zo duur met ~€6.90 per uur. Maar we krijgen natuurlijk weinig terug ivm een hoog inkomen, vandaar de flinke rekening elke maand. Nog een jaartje en dan mag ze naar school, gaat flink schelen als we alleen nog BSO hebben.
      Maar we mogen zeker niet klagen, het gaat lekker!

    2. Volgend jaar gaat de kinderopvangtoeslag voor de meeste mensen omhoog. Misschien wordt jullie paarse taartpunt wat minder groot…. Ik heb zelf al wat zitten stoeien met de cijfers, maar ben nog niet helemaal uit het netto-effect van de veranderingen. Ook omdat de kinderdagverblijven hun tarieven weer gaan verhogen.

    3. Goed punt, de kinderopvang kosten gaan voor ons van €6.89 naar €7.20 vanaf 1 januari 2017. Maar moet bekennen dat we ook nog niet hebben gekeken wat het effect is van de kinderopvangtoeslag voor 2017. Zal altijd wel een dure aangelegenheid blijven, die kinderopvang 😉

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