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!

 

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Financial Statement – November

Here is the result of our savings in November.

Euros October November Gain
Mine 34,250 36,500 2,250
M 23,200 24,600 1,400
M Pension 27,000 27000 0
My Pension 21,950 23,350 1,400
House guarantee 4,000 4,000 0
House paid 55,000 55000 0
Total 165,400 170,450 5,050
Cash 57,450 61,100 3,650

I am not totally satisfied with the result as I believe we can save way more every month. We had some extra expenses this month due to the fact that we have bought some additional furniture, Christmas gifts and maternity clothes but, on the other hand, we did not travel so no money spent on that. I would expect, every month, to save, in terms of cash, 5000 Euros.

Next month will be better 🙂

Financial Statement – October

I am currently just updating you with my savings as I have to admit I do not account properly my expenses every month (I should!)

Euros
Mine 34,250
M 23,200
M Pension 27,000
My Pension 21,950
House guarantee 4,000
House paid 55,000
Total 165,400
Cash 57,450

I am very conservative in what concerns the house guarantee that I expect to get back when we move out of the new house. We have actually paid 5200 Euros but I will assume we will only get 4000 Euros back. Additionally, in M pension, since we are not sure how the pension fund is performing, I will assume a growth rate of 0%. Better to be conservative and then have positive surprises, I believe.

Despite being an unusual month in terms of expenses, as we have just moved into a new bigger house, I am happy to say that our equity increased by 4765 Euros.

Our cash has decreased due to the fact that we have paid 55000 Euros in our first real estate investment. The rest of the payment (45 000 + taxes + furniture) will be paid once the apartment is totally built, which should be in December/January. I am very excited about my first investment and looking forward for my first passive income generator to start working!

Financial Statement – September 2016

I will update you with my financial statements, which include mine and my husband’s, every month. I haven’t started investing yet, so we only have cash and pension funds investments.

Euros
Mine 59 065 Result of saving 10/20% during 6 years and around 50% in the last 1.5 years
M 54 000 Similar saving rates
M Pension 27 000 This we can only get when we officially retire, i.e., around 65/67 years
My Pension 20 570 This can actually be withdrawn if I stay less than 5 years in my current workplace
Total 160 635
Cash 113 065 This is the money we have on your current accounts

This month we are moving into a bigger apartment, therefore we will have more expenses than usual, such as the guarantee for the house, the big car we are renting to do the move, and some new furniture. I am expecting at least 7k to be spent on that (the guarantee alone is 5.2k) but I will update my financial statements and include both earnings and expenses at the end of next month.