Financial Statement – April

We had an increase of +6.6k in net worth which I am pretty happy about! Plus, this month we had an additional cost of 0.8k because my husband purchased the monthly transportation ticket and, even so, we managed to save a lot!

Cash 55,800
Peer to Peer 858
Pensions 76,540
Security deposit for current house 4,000
Rental Property #1 100,000
Rental Property #2 133,000
Debt (Rental Property #2) -94,000
Total networth 276,198

Savings rate = 53%

Our savings rate is not great and we could definitely improve it. It is amazing what you find out when you really start computing the figures! I would have guessed that my savings rate is around 60/70%.

Even though we are saving 6.6k, we are still spending 5.9k a month which sounds like a lot (and it is!). Almost 40% of that is on rent which we are not willing to compromise because 1) we love our apartment and it is quite cheap for the type of apartment/area in which we live 2) is it very convenient/time saving that both of us live close to work and to the creche 3) additional costs when moving into a different apartment.

My husband is not very keen on tracking expenses and for the sake of my marriage I have decided not to force him to 🙂 He is relatively frugal by nature and willing to engage in actions that allow us to save more money but he does not want to track every single expense. I get it and accept it. This month we have decided that from now on we will go to the cheaper/discounter supermarket at least twice a month. I am not really sure but I would say that our second most significant expense is groceries, as I think we spend more than 500 Euros in supermarket on a monthly basis. I hope we can go down by 100 or 200 Euros.

Very soon we will be buying Rental Property #2 and hopefully have it ready to rent it to tourists before August. Read more about our strategies in my previous post on Rental Property #1. I still cannot believe how much we have achieved in the last 3 years, from only slightly above 0 in net worth to almost 300k and from 0 properties to almost 2!

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Going Greener Monthly Challenge 2

This month I took the decision not to use any straws, neither in the house nor outside. Of course if I really loved them, I could still buy environmentally friendly ones to have at home. But I don’t really need them, and I have to admit that most of the time I use them outside home just out of habit. From now on, I will not buy any and not accept from any shop. This is my monthly action on my my way towards a greener life!

Have you realized how much money you can save by being environmentally friendly? 🙂

Financial Statement – March

March was a pretty good month. I am very proud to say that we were able to increase our net worth by 6.5k mostly due to the fact that we did not spend much + some extra cash that I got from my previous employer.

Cash 50,700
Peer to Peer 857
Pensions 74,980
Security deposit for current house 4,000
Rental Property #1 100,000
Rental Property #2 133,000
Debt (Rental Property #2) -94,000
Total networth 269,537

Savings rate = 52%

I am still waiting for property #2 to be completely built in order to officially buy it. The property is not officially mine yet, I have just paid part of it in advance while it was still in construction. There is always some sort of risk in these businesses, I have to admit I am nervous and I will be until the day I get to sign the contract!