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:

June 2018 Savings Rate - Overview

June 2018 Savings Rate – Overview

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

April 2018 Savings Rate - Expenses

April 2018 Savings Rate – Expenses

May 2018 Savings Rate - Expenses

May 2018 Savings Rate – Expenses

June 2018 Savings Rate - Expenses

June 2018 Savings Rate – Expenses

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?

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I always like that a month-end wraps up in a weekend. All the time in the world to go through the various accounts and find out what the numbers are. Here is what our finances looked like: March 2018 Savings Rate and expenses.

March Finances

No cheesy top tip this month, other than keep steady and continue a winning battle with your finances. Albeit we did not win much this month. The car breaks almost seized (almost, figured it out on time fortunately), so a €180 repair bill here (which is dirt cheap!). The dishwasher broke earlier this month. After three weeks without having one, we finally got a new (used) one for only €100 last weekend. Works like a charm, hope it won’t turn out to be a “penny wise,  pound foolish” used buy. Time will tell! Oh, and we got our roof sorted, seems to work well. Happy with it so far!

Financial Overview

Here is the usual (short) financial overview for the month:

  • Mr. CF’s Salary + Mrs. CF’s Salary – High business expenses for Mrs CF = relatively low income. Mrs. CF has been rather busy and will wrap up her expenses this month (finally). Should get about €2.100 deposited in April.
  • The crowdfunding income was normal at just over €191 in deposits (combined interest and principle);
  • Living and healthcare category was very high at a combined €2.332. This includes costs for mortgage interest, insurance premiums, healthcare premiums and utilities. It also includes the €1.178 bill for the roof and the €100 dishwasher buy;
  • Grocery costs were about normal with €325 in expenses;
  • The transport costs were above average €405 spent. Expenses include fuel, insurance, road tax, ferry fees and works on the breaks;
  • The kid category was normal with €455. This month only included daycare expenses (including after-school care benefits). No other expenses this time around;
  • Travel and Leisure was €0/ Not sure what we did, but time flew by and we did not spent one €. We did have a few birthday parties that were “free” (no gifts required) and we did do a lot around the house; and,
  • The other category was about €222. Money was spend on the gym for Mrs. CF. Domain names for the new business for Mr CF. A new anti-virus/firewall/etc. program for the PC. A photobook for 2017 and some minor items.

March 2018 Savings Rate 

After the high comes the fall! Very much applicable for our savings rate this month. We dropped to a yearly low of …….33.6%! Ouch. The lower income (due to business expenses) and the various house maintenance items killed us this month. Better luck in April! The last month with two full incomes. Still, the YTD numbers are very reasonable.

Here are the stats:

March 2018 Savings Rate - Overview

March 2018 Savings Rate – Overview

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

March 2018 Savings Rate - Expenses

March 2018 Savings Rate – Expenses

Forecast Coming Months

As noted earlier, we will have our last full double income in April. We will also pay property taxes and leave in the second half of this month on holidays, so not sure where this will leave us. In May we will be on the road/holiday, we will have only one income at this point. June will be very interesting as we will virtually have no income at all (outside some Airbnb rental income from our house). We will still be travelling for 3/4 of the month.  In short, the savings rate will likely drop like a brick and become negative in June. Funny note: I don’t care one bit!

We might still get our taxes back before July, this could save us a bit on the savings rate front. Not sure when this money will actually arrive. As noted we have put our house on Airbnb, so might have some income to cover the housing expenses during May and June. So not all hope is lost 😉

July and August we will have high expenses due to some home renovation works and only one income. Plus, we might get a dog again by August or September. In short, the heat is on to make my side hustle actually work and bring some income. On the other hand, we are fine financially and have time to make this new life work. Very much looking forward to our new life 🙂

 

How about you? How was your month in terms of savings and living life?

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