Financial Statement – December

Our savings in December.

Euros November December Gain
Mine 36,500 38,800 2,300
M 24,600 28,200 3,600
M Pension 27,000 30,000 3,000
My Pension 23,350 24,750 1,400
House guarantee 4,000 4,000 0
House paid 55,000 55,000 0
Total 170,450 180,750 10,300
Cash 61,100 67,000 5,900

Overall, I am satisfied. We managed to save, in terms of cash, 60% of our salary and our total equity has increased quite significantly, not only due to my pension fund, which is paid by my employee every month, but also because we have finally checked how M’s pension is worth and we have realized it has grown in value quite significantly.

According to Mr Money Mustache we would need around 12.5 years working until we reach financial independence. However, we need to bear in mind that: 1-we have already started this journey almost 2 years ago, and 2-if you plan to move to a low cost living country in the future the number of years you need to work actually decreases.

I am also very excited by the fact that, from this month onward, M’s salary will increase 15% and my salary will probably increase by 2% (still pending the final confirmation). Even though some extra expenses are expected, as we are having our first baby soon, they will certainly be lower than the salary increases.

Happy new 2017 and wish you all a quick and fun path towards financial independence!

 

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s