A hungry man is not a free man

Most of the people spend all their life driven by others’ expectations or by extrinsic motivation, as Dan Pink very accurately described in his book Drive: The surprising truth about that motivated us. It basically means we spend our lives looking for approval in the society mostly through money and/or recognition at work. However, this only gives us a temporary boost of motivation/satisfaction/happiness. The permanent happiness is found in the intrinsic motivation which, according to Dan Pink, relies on three principles: Autonomy, Purpose and Mastery.

My personal journey to financial freedom is actually part of a bigger journey to autonomy, to finding purpose and to having time to master all the issues I have always been interested in. However, I have to admit that the short-term focus is extrinsic, that currently I am focused on making money, not for the purpose of consumption, which is used by mostly for people as a way to fell that they belong to a certain social status, but for the purpose of saving, of being free from every-day bills. As Adlai Stevenson very wisely said A hungry man is not a free man. Therefore, only when free from obligation we can be free to enjoy life at its fullest.

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Financial Statement – April

To all those people who think having a kid is very expensive.. it is just not true (in Europe)! Yes, there are a few things which are expensive and you need to spend money on (stroller, crib, baby monitor, etc) but apart from that there are so many cheap and cute options for baby clothes! I also use cloth diapers so basically I have spend 250 Euros initially and that is it! Also, the truth is you end up going out much less, which means less money spent on dinners/cinema/etc + gifts from family and friends + not falling into the trap of thinking you need to buy everything baby related = savings

Euros March April Gain
Mine 47,080 50,080 3,000
M 36,770 40,520 3,750
M Pension 30,000 30,000 0
My Pension 29,050 30,490 1,440
House guarantee 4,000 4,000 0
House paid 55,000 55,000 0
Total 201,900 210,090 8,190
Cash 83,850 90,600 6,750
Money to be spent in the apartment 44,585 44,585 0
Cash – debt 39,265 46,015 6,750

We have saved almost 65% of our salaries which is actually the number I always had in mind when I started this journey. I am pretty happy about that 🙂

Financial Statement – February and March

Those last months have been crazy! My son was born on the 6 of March and I couldn’t be more happy (and tired!). There was really no time for anything, I could now even separate what I saved in February and March. So, here is the financial statement of both months together:

Our savings in March (including February):

Euros January March Gain
Mine 40,750 47,080 6,330
M 30,770 36,770 6,000
M Pension 30,000 30,000 0
My Pension 26,170 29,050 2,880
House guarantee 4,000 4,000 0
House paid 55,000 55,000 0
Total 186,690 201,900 15,210
Cash 71,520 83,850 12,330
Money to be spent in the apartment 44,585 44,585 0
Cash – debt 26,935 39,265 12,330